• Senior Housing

    Avoid Foreclosure

    Are you at risk of foreclosure and losing your home? Foreclosure doesn’t happen overnight Have you missed your house payment? Search for a HUD-approved housing counselor, or Call toll free (800) 569-4287 to find a housing counselor near you, or Call the Homeowners Hope Hotline at (888) 995-HOPE. Haven’t missed a house payment yet, but afraid you might? Has your financial situation changed due to a mortgage payment increase, loss of job, divorce, medical expenses, increase in taxes or other reasons? Is your credit card debt becoming unmanageable? Are you using your credit cards to buy groceries? Is it becoming difficult to pay all your monthly bills on time? If…

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  • Retirement

    Don’t Buy Precious Metals With A Reverse Mortgage

    You may have seen TV ads that claim buying gold is an easy way to earn easy profits, or build a safe retirement investment. While buying gold might help diversify your investment portfolio, is it always a good way to build your retirement? Or might it be an investment scheme disguised as a golden opportunity? According to a complaint filed by the FTC, DiscountMetalBrokers, Inc. advertised itself as a legitimate seller of gold and silver, yet failed to deliver on its promises. In national TV ads, the company portrayed gold as a safe retirement investment, urging people to be “smart investors” and “protect themselves” because “in today’s economy, you need…

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  • Retirement

    Social Security For Your Spouse

    Even if they have never worked under Social Security, your spouse may be able to get benefits if they are at least 62 years of age and you are receiving or eligible for retirement or disability benefits. Your spouse can also qualify for Medicare at age 65. How Much Will My Spouse Receive? If your spouse qualifies on their own record, we will pay that amount first. If the benefit on your record is higher, they will get an additional amount on your record so that the combination of benefits equals that higher amount. The benefits for your spouse do not include any delayed retirement credits you may receive. If…

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  • Reverse Mortgage

    Is A Reverse Mortgage Right For You?

    You see the ads on TV, in the newspaper, and online. They push the benefits of a reverse mortgage for homeowners over 62: pay off your existing mortgage, supplement your income, pay for healthcare expenses, and more. But is a reverse mortgage right for you? That depends. While a reverse mortgage may increase your monthly income, it can put your retirement security at risk if you’re not careful. Reverse mortgages take part of the equity in your home and convert it into payments to you. The money you get usually is tax-free, and it generally won’t affect your Social Security or Medicare benefits. But a reverse mortgage is not all…

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  • Reverse Mortgage

    The Media Continues to Get it Wrong on Reverse Mortgages

    All you have to do is Google the term “reverse mortgage” and you’ll see that some in the media have written articles saying that they should be avoided. And so, as I sat down to write this article, I did exactly that… I typed “reverse mortgage” into Google and started clicking on links, reading what came up from my search. The first one I clicked on was published by U.S. NEWS/Money on December 11, 2012… under the ominous headline: 5 Reasons to Avoid a Reverse Mortgage. However, since the author of this article is only identified as “FMF,” or a “Contributor,” there’s no way to find out who is providing…

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  • Reverse Mortgage

    Types of Reverse Mortgages

    As you consider whether a reverse mortgage is right for you, also consider which of the three types of reverse mortgage might best suit your needs. Single-purpose reverse mortgages are the least expensive option. They’re offered by some state and local government agencies, as well as non-profit organizations, but they’re not available everywhere. These loans may be used for only one purpose, which the lender specifies. For example, the lender might say the loan may be used only to pay for home repairs, improvements, or property taxes. Most homeowners with low or moderate income can qualify for these loans. Proprietary reverse mortgages are private loans that are backed by the…

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  • Reverse Mortgage

    How do Reverse Mortgages Work?

    When you have a regular mortgage, you pay the lender every month to buy your home over time. In a reverse mortgage, you get a loan in which the lender pays you. Reverse mortgages take part of the equity in your home and convert it into payments to you – a kind of advance payment on your home equity. The money you get usually is tax-free. Generally, you don’t have to pay back the money for as long as you live in your home. When you die, sell your home, or move out, you, your spouse, or your estate would repay the loan. Sometimes that means selling the home to…

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  • Planning

    Emergency Preparedness for Seniors In Oregon

    Get Informed Know what disasters could affect your area, which could call for an evacuation and when to shelter in place. Keep a NOAA Weather Radio tuned to your local emergency station and monitor TV, radio, and follow mobile alert and mobile warnings about severe weather in your area. Download the FEMA app, receive weather alerts from the National Weather Service for up to five different locations anywhere in the United States. Make a Plan Next, determine any special assistance you may need, and include in your emergency plan. Create a support network of family, friends and others who can assist you during an emergency, and share your disaster plans…

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  • Senior Housing

    Senior Housing Options

    Housing for Older Persons The Fair Housing Act (FHAct) protects all residents from discrimination on the basis of race, color, national origin, religion, sex, handicap or familial status (families with children under the age of 18 living with parents or legal guardians; pregnant women and people trying to get custody of children under 18). The “Housing for Older Persons” Exemption: The Fair Housing Act specifically exempts some senior housing facilities and communities from liability for familial status discrimination. Exempt senior housing facilities or communities can lawfully refuse to sell or rent dwellings to families with minor children. In order to qualify for the “housing for older persons” exemption, a facility…

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  • Reverse Mortgage

    Reverse Mortgage Sales Pitches

    Be Wary of Sales Pitches for a Reverse Mortgage Is a reverse mortgage right for you? Only you can decide what works for your situation. A counselor from an independent government-approved housing counseling agency can help. But a salesperson isn’t likely to be the best guide for what works for you. This is especially true if he or she acts like a reverse mortgage is a solution for all your problems, pushes you to take out a loan, or has ideas on how you can spend the money from a reverse mortgage. For example, some sellers may try to sell you things like home improvement services – but then suggest…

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