Mar 14th 2011 5:02PM
Seniors who took reverse mortgages are being pushed into foreclosure by HUD, according to a lawsuit filed by the AARP. Are all seniors who took a reverse mortgage at risk? No, only those who decided to put only one spouse on the reverse mortgage. Why would a couple decide to leave a spouse off the reverse mortgage? Peter... Continue Reading »
Dec 10th 2010 3:22PM
Reverse mortgages are a common money-raiser for senior-citizen homeowners. Unfortunately the high fees associated with reverse mortgages often make them a poor choice. But a new program from the Federal Housing Administration called the Home Equity Conversion Mortgage Saver (HECM Saver) helps lower some of the costs... Continue Reading »
Aug 31st 2010 12:30PM
Google may know where you live, but if you're in the market for low-income housing, they also might hold the keys. The all-seeing search behemoth is revving up its philanthropic efforts to create an $86-million Low-Income Housing Tax Credit (LIHTC) fund. The fund will subsidize the construction and operation of 480... Continue Reading »
Jun 25th 2010 12:15PM
Do you or your parents have a reverse mortgage for which they don't pay the property taxes or insurance? While in the past, the FHA and Fannie Mae would patiently wait until the property owner died or moved to pay off any liens, that practice is about to end. Many seniors don't realize that they can lose their home to... Continue Reading »
Jun 2nd 2010 3:26PM
Home values sank, the stock market plummeted, 401K plans were depleted, and today many of the nearly 40 million Americans in retirement are discovering they may have not been financially prepared for a doomsday scenario. One remedy many Baby Boomers, with their record-high level of home ownership, may not have considered... Continue Reading »
