If you start receiving spouse's benefits at age 62, your monthly benefit amount is reduced to about 32.5 percent of the amount your spouse would receive if their benefits started at full retirement age. 67 is 50 percent (the maximum benefit amount). Age To Receive Full Social Security Benefits.
If there are many foreclosure homes available at one time, a buyer's market may form, resulting in lower sale prices. In 2013, foreclosed California homes spent about 34 months or nearly three years in shadow inventory before they were sold, according to the Inman News real estate website.
There are consequences that borrowers who faced foreclosure will have to deal with before buying another home, and it will take time to heal the damage done by the foreclosure process. How long you need to wait to buy another home depends on how deep the damage was to your overall financial picture and how well you recovered afterwards. In order to recover and buy again, you must focus diligently on improving your credit and saving money. Here are five key variables on how foreclosure, short sale, or deed in lieu can impact your next home purchase: 1. Duration of delinquency is a factor. Foreclosure proceedings and short sale transactions can take quite a bit of time (depending on the state in which you live and the banksâ procedures), and homeowners in foreclosure or short sale are often unable to continue making monthly ...