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Simple ways to block spam phone calls

For retirees, getting unwanted phone calls has become a part of everyday life.  Most of these calls are just an annoyance, but occasionally it can be a scam with potential to steal significant moneys or even the identity of the target.  The good news is there are simple things that…

What happens to your debt when you die?

Debt doesn’t typically die when we do. A number of factors dictate what happens to debt when you die, including whether anyone co-signed on the loan, if the debtor had assets at death and what type of debt they held. The laws also vary from state to state. Generally speaking,…

Navigating your finances after losing a spouse

Losing your spouse is an incredibly difficult experience that can leave you feeling emotionally overwhelmed for your grief and a little disconcerted as you now have to take on their responsibilities. Change is hard for all of us, but after being together for so long, it may seem like an…

Use a Reverse Mortgage strategically for deductions when needed and grow the Line of Credit simultaneously ; Excerpts from “The Street” website (see link below)

Reverse Mortgages (RM) are most often used to eliminate monthly mortgage payments, although borrowers are required to continue to make their home insurance and property tax payments.  Occasionally, a retiree may only want to lower their monthly mortgage payment to one that is more comfortable for them and they may…

Breaking: FHA Reverse Mortgage loan limit increasing to over a million dollars in 2023

We all know the market can change quickly; rates have been steadily rising, but this last week we saw a drop, which is great news as it increases reverse mortgage payouts. The FHA sets loan limits on these loans and currently, if your home is worth 1.2 million dollars, the…

Sure-fire way to improve your mood and stress level

Interest Rates are up, Grocery prices are up, Gas prices are up and social security did not go up nearly enough to make a dent in any of it.  We have had 2 quarters of negative growth, some would call that a recession.  The average American is under incredible pressure…

The Federal Reserve announced significant rate increases and warns of a “housing bubble”

Early on in the pandemic the Federal Reserve (FR) slashed the Federal funds rate (FFR) (the rate it charges to banks for overnight borrowing) to stimulate the economy.  This was to combat the 22 million Americans that could not work and were unemployed.  This huge drop in FFR has an…

More money available soon on Reverse Mortgage loans

Home values have been ballooning in recent years.  The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, reported a 19.5% annual gain in September 2021!  The prior year period from September 2019 to 2020 the same area reported a 19.1% annual gain. …

Social Security checks increase the most in 40 years

The gas pump and the grocery store are taking a much larger bite out of our collective wallets this year.  At the start of 2021 the average gas price in the US was around $1.85 and currently the average has risen 59% higher in less than a year.  The 70…

Eviction Moratorium final ruling by the Supreme Court

In March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security Act to alleviate burdens caused by the COVID–19 pandemic. Pub. L. 116–136,134 Stat. 281.  This Act imposed a 120-day eviction moratorium, which was extended until the end of July 2020. This moratorium denied landlords and lenders from evicting…