There are multiple ways in which seniors can borrow home equity without having to refinance their home now. Getty Images/iStockphoto

Interest rate cuts are finally coming again … but is it too late?

That's the question some Americans find themselves confronting now as the chances of a rate cut courtesy of the Federal Reserve currently hang around 90%. While a cut is generally better than a pause or, worse, a rate hike, many may be wondering how many cuts they actually need to regain their financial independence. And a 25 basis point reduction when the central bank concludes its next meeting on September 17 is unlikely to offer much relief.

This is unfortunate for seniors, particularly those looking to leverage the home equity they've built up over the years. A minor drop in the

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