Items Tagged with 'AARP'

ARTICLES

  • Feature: A HECM Hearing

    Housing experts and reverse mortgage professionals testified before members of Congress last month in an oversight hearing established to examine the health and future of the FHA’s HECM program. Speaking before members of the Subcommittee on Insurance, Housing and Community Opportunity, eight strategically appointed panel members from various sectors of the industry presented their views on HECMs, as well as concerns about the state of the program and recommendations for its improvement. Specifically, panelists were asked to address the mechanics of the program; its administration; issues affecting stakeholders; benefits to borrowers; the program’s safety, soundness, and sustainability; and the risk
    Read More
  • Older Americans Face Increasing Housing Burdens

    A new report by the AARP Public Policy Institute has found that Americans aged 50 and older are increasing finding housing to be less affordable as result of impacts of the recession.   In the summary, "Housing for Older Adults:  The Impacts of the Recession," the report found an increase in the percentage of older Americans face a "housing costs burden," defined as those who pay more than 30% of their income on housing expense.  For those with incomes below $23,000 per year, 96% face an unsustainable level of housing costs.  The percentage drops to 67% for those with
    Read More
  • Boomer Women Focus More on Finances than Health

    A new survey of baby boomer women found that the majority of them aged 45 and over list financing their long-term retirement as their primary focus in planning for the future. The AARP-Harris Interactive Survey found that these women placed their personal finances as more important than their health in planning for the future.  Only one out of seven women who are already retired are confident that they will have enough money to fund their retirement years.  However, the results also found that as women age staying healthy becomes more important in the planning for a secure future. The
    Read More
  • AARP, FPA Offer New Guide for Working with Older Clients

    AARP, in conjunction with the Financial Planning Association has published a new, updated guide designed to provide guidance for financial professionals serving older Americans.   The new edition of "A Financial Professional's Guide to Working With Older Clients," offers updated and expanded advice on the key issues to consider, questions to ask and skills necessary to serve this demographic. “Financial professionals serving older Americans play an increasingly important role in the  quality of their clients’ lives,” said Michael Herndon, AARP Manager of Work and Consumer  Issues. “Retirement is changing, and there is a great need for knowledgeable financial services
    Read More
  • AARP Launches $2 Million in Grants to Help Older Americans

    AARP Foundation announced the launch of a new grant program to help fund projects focused on helping vulnerable Americans meet their basic every day needs, including, food, housing, income and personal connections. The goal of the $2 million in grants is to support a diverse range of projects that seek to provide long-term, sustainable solutions to challenges faced by lower income adults over the age of 50.  The projects receiving grant money may range from basic education to interventions led by organizations with the ability to address the social and behavioral aspects of these challenges. Hunger, housing, income and
    Read More
  • AARP Lawsuit Defines Proposed Class

    The recent lawsuit filed by AARP against Wells Fargo and Fannie Mae seeks class action status to include all borrowers, including their heirs and estates, that were not provided the opportunity to purchase the subject homes for 95% of appraised value.   In a review provided to NRMLA, the organization's legal counsel Weiner Brodsky Sidman Kider, PC discussed the proposed class and the rule, termed "the 95% Rule" that is the key allegation against the defendants. In requesting class action status, the review says, AARP proposes a class that includes all borrowers under HECM loans of Wells Fargo and
    Read More
  • AARP Files Another Non-Recourse Lawsuit

    Months after their lawsuit prompted HUD to rescind Mortgagee Letter 2008-38 AARP has filed a new lawsuit alleging Wells Fargo and Fannie Mae continue to fail to provide families the ability to purchase homes for the appraised value according to the non-recourse provisions of the HECM program. The suit, filed in the U.S. District Court for the Northern District of California in San Francisco requests class action status and seeks an injunction prohibiting illegal foreclosures and evictions, including damages for breach of contract. The suit alleges that plaintiffs were never informed of their right to purchase the properties at
    Read More
  • Top 10 Places to Retire Affordably

    After examining over 350 cities in the United States, AARP The Magazine, has published their annual list of the top 10 cities for retiring in an affordable and rewarding environment. The top 10 list is published in latest edition of the magazine where Gainesville, Georgia topped the list of cities that offered the best combination of median home prices, costs of living, tax rates on pensions and Social Security, recreation, climate and health resources.  The city offers plenty of water sports, hiking and golf for older Americans seeking an active lifestyle.  None of the cities represented in the top
    Read More