Retired? Good Luck Getting a Mortgage, Even If You’re Wealthy
Just before James Heath* retired four years ago, he and his wife began the search for the home where they’d hoped to spend their senior years. He knew precisely what he wanted: a smaller property with a low-maintenance yard. He also knew what he didn’t want: a home with multiple floors, or a large, finished basement.
The Ireland native, 70, certainly had the means to make the transition. He spent the last 30-some years living in his existing home — a 5,200-square foot property situated on more than 2 acres — just outside of Denver. The property had accumulated value over the years, because of its desirable location. And throughout his career as a physician, Heath had also accumulated a sizable nest
