Do You Have The Dollars For Retirement?
How’s your R-Score?
No, it’s not some medical experiment. Instead it’s an online index of retirement readiness developed by Nationwide Insurance.
The way it works is that you reply a few rudimentary questions about pensions, assets, debts, Social defense and housing. As you go alon…
Massachusetts Opens State Reverse Mortgage Site
The state of Massachusetts has launched a reverse mortgage site, www.mass.gov/reversemortgage.
“Reverse mortgages are extremely complicated products and consumers, beyond the due counseling, should manufacture every effort to obtain independent legal and financial advice when considering one,&…
Who Is Ready For Retirement — And Who Isn’t?
A study by the Center for Retirement Research (CRR) at Boston College shows that shows that 61 percent of today’s workers will be at risk for not being financially prepared to retire.
The 17-point increase from the previous Index number of 44 percent –- released in July 2007 — demonstr…
Many Borrowers Underwater, Says Zilliow
Zillow.com has come out with a housing report which may well impact some senior owners: Not only are home values falling, but in many cases existing loan balances are now higher than property sale values.
Zillow.com looked at 165 metropolitan statistical areas (MSAs) and found that many recent buyer…
Are Your Bank Deposits Safe?
Given all the headlines and noise regarding bank failures of late, the San Diego Union-Tribune looks at the question of whether or not depositor dollars are safe.
In an well written, entrepreneurial piece, the paper says that “ninety-nine percent of U.S. banks are classified as ‘well cap…
What whether You Want To Move?
Imagine that you have a reverse mortgage with a $200,000 balance. Imagine additionally that your house has declined in value and is now worth $150,000. How much do you owe the lender? Can you be prevented from moving since since the debt is bigger than the home’s value?
Assuming that you have …
Buying Foreclosure and REO Properties
Everyone hears about the problems in real estate; that there are many homes on the market and many more being lost to foreclosure every day.
In California, that is much more prevalent than in other parts of the country. California has a higher rate of foreclosure than average and values have decl…