Refine results using…
retirement
financial
financial planning
blog
websites
health
book
government
wall street
economy
aging
credit cards
debt
fraud
banks
mortgage loans
support groups
the world is curved
great recession
refinance
What is Boomer411? And How does it help me?
Results (33) Have questions? Ask our experts
Latest Recommendations | Sorted by: Recent | Relevant|  |
|
Tagged by
SurviveandThriveBoomerGuide
on 05 Sep 2010
Banks and other lending institutions and governments at all levels need to do more to help struggling homeowners. The banks and Wall Street have been bailed out to avoid another Great Depression after their huge mismanagement and greed. Main Street needs help, too, and bankers and politicians must provide more assistance to homeowners.
|
||
|
Tagged by
SurviveandThriveBoomerGuide
on 01 Aug 2010Tags:
deceptice advertising,
federal trade commission,
chase financial funding,
mortgage loans,
mortgages
Refund checks are being distributed by the Federal Trade Commission to borrowers lured by a firm charged with deceptive advertising that offered 3.5 percent, fixed-payment, 30-year mortgage loans.
|
||
|
Tagged by
SurviveandThriveBoomerGuide
on 17 Apr 2010
The Securities and Exchange Commission yesterday charged Goldman, Sachs & Co. and one of its vice presidents for defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages as the U.S. housing market was beginning to falter.
|
||
|
Tagged by
SurviveandThriveBoomerGuide
on 27 Oct 2009Tags:
consumer financial protection agency,
u.s. chamber of commerce,
credit cards,
banking industry,
economy
The banking industry is set on killing the proposed new consumer protection agency being proposed by the Obama administration to help consumers.
|
||
|
Tagged by
Guru
on 20 Jun 2009President Obama signs the Housing Affordability Modification Program (HAMP). You might be able to save a lot of money from this program, if you suffered financial hardship this year and you have a mortgage. You might qualify for refinancing your mortgage at an extremely LOW INTEREST RATE as low as 2% |
||
|
Tagged by
SurviveandThriveBoomerGuide
on 30 Mar 2009
In these troubling economic times, more and more baby boomers are facing financial difficulties. In a two-part series, Christopher Lombardo, Western Region area director for ClearPoint Financial Solutions, answers questions about credit counseling and finding help if you're facing foreclosure.
|
||
|
Tagged by
Beyond50Radio
on 05 Mar 2009
Listen to an interview with David Smick. He's regarded as one of the most insightful financial market strategists in the world. He'll explain why America's mortgage mess is a symptom of potentially far more devastating trouble. Watch out for a likely economic "bubble to burst" in China and global financial power shifting from the US, Europe and Japan to the big-money Russian, Chinese, Saudi and Dubai sovereign wealth funds. And, the stimulus program by President Obama is not enough. Some of the changes needed is to restructure the large banking systems in America, along with investing in small businesses to create new innovations that can boost the economy.
|
||
|
Tagged by
Beyond50Radio
on 03 Nov 2008
The mortgage crisis was only the beginning, wrote David M. Smick. He is internationally renowned as the most insightful financial market strategist in the world. Even Investor George Soros and political leaders have sought his advice. You'll learn about how China's financial system can create the next "bubble to burst," along with further destabilization from Saudi and Dubai sovereign wealth funds. He also teaches how to survive in these turbulent times.
|
||
|
Tagged by
Beyond50Radio
on 26 Sep 2008
Authors Paul Muolo and Mathew Padilla are pointing fingers directly at Wall Street and the big investment banks for the financial mess. There's lots of name dropping in this book from interviews with 200 industry veterans. If you'd like an excellent chronicle of the ruin of the mortgage industry, then read this!
|
||
|
Tagged by
gilbertguide1
on 07 Jul 2008
Suzanne Wolfson, a CFP®, explains reverse mortgages and how to avoid pitfalls and problems.
|
||
|
Tagged by
SurviveandThriveBoomerGuide
on 22 Jun 2008
Michelle Singletary, writer and financial advisor, thinks it's a good idea to pay off your mortgage before you retire.
|
||
|
Tagged by
FinancialAmbition
on 22 May 2008
Yet academic research shows that retirees who want to play it safe can afford to withdraw only 4 percent to 5 percent of their nest eggs each year in retirement--if they want them to last for 30 years or more. Even a person with $250,000 could afford to tap only $10,000 or so annually.
Related News Annual Retirement Guide Major companies are recruiting older workers Diet, exercise, and checkups will add years to your life Some healthy retirement tips An immediate annuity offers help in retirement Looking for the good life in all the small places Reverse mortgages lend a hand to seniors Busy seniors are more likely to relish retirement |
||
|
Tagged by
FinancialAmbition
on 27 Jan 2008
Joe Miramonti offers an interesting discussion of reverse mortgage fees and such, to wit:“The fees most people find objectionable are the upfront costs to get the loan done,” says Joe. “On a convention HECM product, this is consumed primarily by 2 components; 1) Mortgage Insurance which is 2% of the loan amount and 2) Orginiation Fees which are federally capped at 2% of the home value. Net, the fees to get the loan running when you add in all the additional costs of appraisal and title fees, etc. can push up toward 5% of the home value. These are usually what people have a hard time with. In most cases these costs are financed into the mortgage. We can certainly discuss whether
|
||
|
Tagged by
FinancialAmbition
on 27 Jan 2008
There is an interesting discussion regarding reverse mortgages at AllFinancialMatters.com discussing whether or not reverse mortgages will be the next subprime debacle.The central worry is that as more reverse mortgages are issued that they, like other loans, will be packaged and securitized. As JLP writes “I don’t know about you but this concerns me. Isn’t the packaging of mortgages and selling them to investors one of the reasons we got into the subprime mess? Could the same thing happen to the reverse mortgage market? I can imagine that as demand from brokerage firms and investment banks for reverse mortgages increases, standards will be lowered, and we’ll see all sorts of shady practices take place.”
|
||
|
Tagged by
FinancialAmbition
on 27 Jan 2008
Does it make sense to borrow from retirement savings to pay off current debts?Chicago Tribune financial columnist Gail Marks-Jarvis points out that “under federal law, people are allowed to borrow from their 401(k), but the intent is to let you borrow only for the short term. You are expected to pay the money back, and you are given no more than five years to do it. If you lose your job, you have to pay it back quickly, usually within 90 days.“If you fail to pay the money back on time, you have to pay taxes on everything you owe. In addition, there will be a 10 percent penalty.
|
||
|
Tagged by
FinancialAmbition
on 27 Jan 2008
Gary writes and asks about getting a reverse mortgage:“I have a balance of 170K on a house that was appraised almost 2 years ago for 450K. I am 63, 3 lenders have indicated that I would need 9k to close. 170 less the 200k max leaves 30k plus the 9k to close. Soooo, it’s going to cost me 39K to do a section 255. Tell me what is wrong with this picture?”I think you need to look at this a little differently:
|
||
|
Tagged by
FinancialAmbition
on 27 Jan 2008
HUD has come out with two interim rules which would impact the HECM program if finalized.In general terms, the first new rule for federally-insured reverse mortgages “extends the date for calculating the maximum claim amount in the HECM program from the date of the underwriter’s receipt of the appraisal report to the date of closing. This change provides a more easily verifiable and more easily identifiable date.”
|
||
|
Tagged by
FinancialAmbition
on 27 Jan 2008
The folks at the Charlotte News
|
||
|
Tagged by
FinancialAmbition
on 27 Jan 2008
Reverse mortgages and healthcare go together like peas in a pod for a very simple reason: To pay off medical bills homeowners often take out reverse mortgages.Now the New York Times reports the following:
|
||
|
Tagged by
FinancialAmbition
on 27 Jan 2008
(This is the first installment in a series of reverse mortgage educational postings by Sue Haviland, a Maryland-based reverse mortgage specialist. Please check back each Monday for more.)With the rise in popularity of reverse mortgages, specifically HUD’s HECM (Home Equity Conversion Mortgage) it may seem surprising that there is still so much confusing information floating about. I am often asked just how the borrower’s age can make a difference in reverse mortgage proceeds. The question is posed like this: “So you’re saying as long as my husband and I are at least 62 years old and own a home, we can consider a reverse mortgage?”It really can be that simple.
|
||
|
Change Text Size
|
|
Latest News
 Boomer411 voted one of the Top10 sites by PC Magazine |
|
|
