How to make sense of reverse mortgages

And more of the week's best financial advice

Suburban home.
(Image credit: iStock)

Here are three of the week's top pieces of financial advice, gathered from around the web:

Making sense of reverse mortgages

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Goodbye to Black Friday

"We're not so slowly killing Black Friday," said Abha Bhattarai at The Washington Post. Fewer Americans say they are planning to hit the sales on the Friday after Thanksgiving this year, "as consumers grow accustomed to deep discounts year-round." Just 35 percent of shoppers who plan to buy items during Thanksgiving week say they will do so on Black Friday, down from 51 percent last year and 59 percent in 2015. "Retailers have conditioned the consumer to believe everything's on sale every day, which means the deals on Black Friday are not significantly different from any other time," says Steven Barr, consumer markets leader for research firm PwC. Alarmingly for brick-and-mortar stores, 30 percent of this year's Black Friday shoppers will buy online exclusively.

Courting your lender

"Whether you realize it or not, asking for a loan can be a little like asking someone out on a date," said Geoff Williams at US News​. Although a solid credit score and credit history are key requirements for a loan, lenders often size up a prospective customer in the same manner they do a potential romantic partner. Lenders are turned off when a borrower appears overburdened or overstressed; banks are eager to see that you're "a safe risk." Another turnoff: "Looking like you're stretching yourself too thin." Do not mention any family feuds or pending bankruptcy actions. "Treat that lender like a prospective date and try to seem like a good catch, financially speaking."

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