Lifestyles over 50 Finance & Money
This photo is of my father, Bob Hollinger Sr.. who served three years in the United States Marine Corps in Italy in 1945. He’s 87 now, and I spend a lot of time with him. It’s been six years since my mother passed, and I have been so proud of him, living independently and taking great care of himself. But recently I have been worried about him, because he’s falling, and though he can remember so many details about his life 70 years ago, he can’t remember who was in a movie he watched 20 minutes ago. He’s giving money he doesn’t have to mail and phone scams, is now vulnerable and too trusting, and he doesn’t know how $500 is disappearing from his bank account every month. He needs help.
“Don’t get a reverse mortgage, you’re giving your home to the bank.”
Having been in the reverse mortgage business for the better part of a decade, I have heard many things said about reverse mortgages. Unfortunately for the general public, much of it is not true.
Did you know that Medicare Summary Notices (MSNs) provide important information to help you prevent Medicare fraud? Many people know this as the “This is not a bill” statement. Medicare consumers should review their MSNs to be sure the information is accurate and if not, report any discrepancies.
What is a reverse mortgage?
A reverse mortgage is a government insured loan which allows homeowners to access the equity they have built up in their homes. The homeowner retains title to their home. Unlike a regular mortgage, a reverse mortgage requires no monthly mortgage payments (homeowners must still pay taxes and homeowner’s insurance.)
Most people who vacation spend many hours planning before hand. They purchase tickets, make reservations, schedule tours and transportation and anything else that allows them to relax and enjoy their vacation by following the plans they’ve prepared and confirmed.
Erosion due to storms can be a huge challenge!
While it can happen any time of the year, erosion due to storms can have a dramatic impact on beachfront properties as evidenced by this picture in South Carolina. Without the proper insurance, problems like this can be costly.