Have Your Home and Money Too. 2nd ed.

Ashley Thomson is a full librarian at Laurentian University and co-editor or co-author of nine books, most recently Margaret Atwood: A Reference Guide, 1988-2005.

Have Your Home and Money Too is aimed at homeowners who face such a
diminished income after retirement that they are forced either to move
or to severely restrict other activities (e.g., travel) because most of
their money is spent maintaining their home. The author outlines several
options that would allow retirees to retain both their current home and
spare cash for the little extras in life. Covered in the greatest detail
is the reverse mortgage, which Wade defines as “a home equity
conversion approach in which a mortgage is registered against a property
to release equity for the homeowner’s use or to purchase an annuity of
the homeowner.” Property tax deferrals, home-based businesses, and
subletting are among the other options discussed.

Each option is supported with common-sense questions and advice. For
example, when deciding whether to set up a home-based business, you
should “think about all the hats you must wear: office manager,
accountant, salesperson, receptionist, word processors, mail clerk and
so on. How will you handle the jobs you do not like doing?” Because
of its focus on reverse mortgages, Have Your Home and Money Too is
recommended for retirees with a particular interest in that topic.