Posts Tagged ‘seniors’

Senior Home Equity Hits All-Time High

Posted on August 03, 2017 by Laura Lam

Senior homeowners saw an increase in their home equity in the first quarter of 2017, according to a report from the National Reverse Mortgage Lenders Association (NRMLA).  The report showed homeowners aged 62 and older saw their home equity increase by 3.1% to $6.3 trillion in the first quarter. This is up from $6.13 trillion from the fourth quarter. This growth in housing wealth for seniors was driven by an estimated 2.6%, or $199.3 billion, increase in senior home values, and was offset by a 0.6% increase in senior-held mortgage debt which totaled $9.2 billion. The NRMLA/RiskSpan Reverse Mortgage Market Index, a…

Debt Collectors Might Be Calling Your Nana

Posted on November 14, 2014 by Saldutti

Gripes about debt collectors are the most common complaint filed by older Americans, according to the Consumer Financial Protection Bureau (CFPB).  Collection gripes are roughly 1 out of every 3 complaints the bureau gets from seniors.  Confusion over medical bills, attempts to collect debts of deceased family members, and illegal threats of garnishing federal benefits like Social Security top the list. “It is increasingly common for older Americans to carry debts into their retirement years, and consumers living on fixed incomes often struggle to pay off these debts,” said CFPB Director Richard Cordray.  Unprofessional collectors badger consumers who are in…

10 Tips to Protect Your Nest Egg

Posted on May 26, 2010 by Saldutti

Older investors are among the top targets for con artists. The files of state securities agencies are filled with tragic examples of senior investors who have been cheated out of savings, windfall insurance payments, and even the equity in their own homes.  Avoid becoming a victim by following 10 self-defense tips developed for seniors by the North American Securities Administrators Association, Inc. (NASAA). 1. Don’t be a courtesy victim – Con artists will not hesitate to exploit your good manners. Save your pleasantries for friends and family members, not strangers looking for a quick buck! 2. Check out strangers touting…