Items Tagged with 'Senior'


  • CFPB warns about dangers of taking out a reverse mortgage to delay Social Security

    Says claiming Social Security benefits later may not be worth it
    The Consumer Financial Protection Bureau issued a warning to seniors this week, cautioning them that taking out a reverse mortgage in order to delay claiming Social Security benefits could be a financially harmful decision. In its report, the CFPB said it investigated this practice and found that the costs and risks of obtaining a reverse mortgage could exceed the increased amount of a senior’s lifetime Social Security benefits should the person wait to claim their benefits.
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  • Is HUD hiding embarrassing data on widow foreclosures?

    HUD denies FOIA fee waiver
    The California Investment Coalition submitted a Freedom of Information Act request to HUD, asking for data about Financial Freedom’s record with the number of complaints filed against it, and the number of foreclosures it had processed on widowed homeowners. Shockingly, HUD denied the fee waiver request, leaving significant reverse mortgage questions unanswered.
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  • Trulia: The parents are moving in...

    More seniors start living with their kids
    Thanksgiving is quickly approaching, ushering in a season filled with friends, family and food. But this year, in many households, extended family has to go no farther than the next room to meet up with their loved ones.
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  • Foreclosure rescue scam complaints more than double

    GAO: African Americans, seniors hit the hardest by scams
    Foreclosure rescue schemes have become increasingly complex, involving attorneys and the bankruptcy code, among other things. Complaints rose from 9,000 in 2009 to more than 18,000 in 2012, the Government Accountability Office said.
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