62 and still kicking!!
Most of the population decides to retire by the age of 65. This can leave you into a lot of trouble especially if you have taken loans and are under debts. One way to escape out of this is bankruptcy. Also there are other means of debt settlements but all these methods are not necessary once if you have a huge estate or property lying around useless. This does not mean that to settle your loans immediately you should go around shouting sell my house fast.
A quick house sale is a good option to settle your immediate loans but it is not an option for anyone and every one. Without your house or property you may have no place to go. Also quick property sale can come with great risks that can put you into further trouble. That is why many companies that look after the solutions to your house selling problems offer the option of equity release. Under the equity release options you can mortgage you house and still live in it.
You can slowly pay back the debts through the steady and automatic income and then pay back for the house after your death or only if you move away. This means that after you die your house will be taken over by the company. This is an easy option for those that do not want to leave any property for their heirs. Also this is a very good option to use if you won large estates that are otherwise unused. You can still live in the house and earn from the rents of your property and settle of your debts in peace.