Can a Home Equity Loan Help You Prepare for Retirement?

Deirdre and TomAs you approach retirement, you may wonder whether you’ve secured enough savings to live comfortably when no longer working—and you wouldn’t be the only one. Nearly half of Baby Boomers plan to use home equity as a means to ensure a secure financial future once they’ve retired, according to Ameriprise Financial’s recent Retirement Check-In survey.

The most important step you can take toward securing a comfortable retirement is to start planning now. Consumers’ unique Silver Lining Lending program can help.

Silver Lining Lending is a unified approach to finances that consolidates your loans with a competitively-priced home equity product—specifically designed for the changing budgetary needs of members approaching retirement.

By reducing the number of loan payments they’re making, Silver Lining Lending enables members to save money in interest charges, while potentially increasing their cash flow. It also removes some of the stress associated with retirement planning by positioning the member’s equity to his or her best advantage.

Deirdre and Tom are two Consumers members who have found success with Silver Lining Lending. They say, “Consumers brought us several steps closer to realizing our retirement plan through a simple one-step loan that combined our mortgage and equity line into one loan, at a low interest rate with no closing costs. The result? We’re saving over $7,000 in interest, and we’ll pay off our home in five years. What’s not to love?!”

If you would like to see if Silver Lining Lending could benefit you, stop by an office, call us at 800.991.2221, or apply online

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