Word: mortgagee
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Brad (Patrick Wilson) is a house husband, sweetly raising his adorable little son and pretending to study for the bar exam while his wife (Jennifer Connelly) makes documentary films to pay their mortgage. Sarah (Kate Winslet) is overeducated for this neighborhood and restless in other ways as well. Her husband...
"[J]ust as when any of us buys a new house and our mortgage payments seem high in the early years, the cost of the Faculty’s current capital investments will necessarily constrain our choices for some time," Knowles wrote.
It certainly hasn’t been a rosy decade for Mr. Shleifer. The Crimson reported this year that the professor has had to mortgage his home to pay the first installment of the settlement. And the pending internal investigation casts a shadow over Shleifer’s future. But...
Further borrowing poses another threat: you could be saddled with high mortgage payments just as your income drops. Indeed, folks now approaching retirement are expected to be more burdened by mortgage debt after leaving work than any previous generation, a 2005 Harvard study found.
Another popular alternative for retirees counting heavily on their homes for income is the reverse mortgage, an annuity you receive after signing the house over to a financial institution. This approach to cashing in on your house makes sense as a last resort. The good part is that the bank...