Just one look at Dan and Barbara Nostros' Ridgewood, N.J. home tells you that the last thing this couple ever thought they'd do is downsize to a smaller house. Nearly 3,500 square feet with four bedrooms, the Nostros' home has the feeling of a warm cocoon that's slowly expanded over the 12 years the family has lived there. A kitchen with a large, central cooking island. Generous bedrooms with big windows and closets galore. A living room with terrific built-ins.
Everything seems to have its place -- but the Nostros. Ever since their 20-year-old left three years ago for college in Los Angeles, the family has been spending less and less time in Ridgewood. Two years ago, Dan and Barbara decided to rent a small home in Encinas; last year they also rented a pied à terre in Manhattan because Dan was spending so many nights working in the city.
Now the Nostros have sold their Ridgewood home, and are diving back into the market, but not without some trepidation. What's the right mortgage product for baby boomers who have a newly empty nest and are just starting to enjoy the good life?
- People Who Retire Comfortably Avoid These Financial Advisor Mistake…
- The Worst Way to Withdraw From Retirement Accounts
- 2020: How to Maximize Your Savings
- Historic Refi Rate Alert: 2.02% APR. Can you save?
- Don’t Borrow From The Bank - Borrow From Yourself
- Crush Your Debt: Refinance to a 15 yr fixed
- Home Mortgage Rates Drop Sharply This Week
- HARP Refinance Program is Over. Now What?
- Digital Mortgage Platform Helps Home Buyers Shop for Mortgages
- You Could Earn 70K Miles with this Top Travel Card
- Mind-Blowing Cards for Those with Excellent Credit
- Pay No Interest Until 2023 With A Better Credit Card
- Forget the 30yr mortgage if you owe less than $822K (Do this instea…
- How to pay off your house ASAP (So simple it's unbelievable)
- Congress Gives Veterans A Generous Mortgage Relief Program