Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Latest Breaking News

dickthegrouch

(4,552 posts)

8. If I'd just lost my job and being 50yo finding it hard to get a new one

Reply to MichMan (Reply #6)

Sun Mar 1, 2026, 04:40 PM

Mar 1

I'd not be a good candidate for even an equity loan. Reverse mortgage, perhaps, but those are as idiotic to take as a failed businessman as a president.
After medical expenditures I might not be in a position to get that equity loan (or the replacement employment) either.
I've been in almost this position twice, which is how I can speak to it. I did have savings I could use to prevent loss of my home, but apparently 65% of US adults over 50yo don't.
Yet another way in which the system is screwing more than half of us.

https://news.gallup.com/poll/691202/percentage-americans-retirement-savings-account.aspx

Edit history

Please sign in to view edit histories.

Recommendations

1 members have recommended this reply (displayed in chronological order):

Chemical Bill

8 replies

= new reply since forum marked as read

Highlight:

Justices appear dubious of challenge to constitutionality of foreclosure sales [View all] Yo_Mama_Been_Loggin Feb 27 OP

Interesting case and issues. I will say that moniss Feb 27 #1

On the other hand it's still avoidable largely as long as people pay their taxes. cstanleytech Feb 27 #3

We had a case here in MI during the recession. louis-t Feb 27 #4

Seems logical that fair market value is what it actually sells for, not some arbitrary theoretical appraisal MichMan Feb 27 #2

Equity should be considered dickthegrouch Feb 27 #5

I'd borrow against the equity if I was in that situation MichMan Feb 28 #6

If I'd just lost my job and being 50yo finding it hard to get a new one dickthegrouch Mar 1 #8

Michael Pung is apparently not "too big to fail." delisen Mar 1 #7