Reverse mortgage foreclosures on the rise

Reverse mortgages allow homeowners 62 and older to borrow money against the value of their home.  In tough times like these, a reverse mortgage can seem like a gift but a growing number of seniors  are running into problems ranging from unscrupulous brokers with aggressive sales pitches to significant costs the homeowners can’t afford.  Some widows…

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Electronic Social Security checks on the horizon

Individuals receiving federal benefits must transition to electronic federal benefit payments by March 1, 2013.  The one-year countdown began in March and is two-thirds completed.  About 90 percent of Social Security and Supplemental Security Income payments are already being made electronically leaving approximately 6 million paper checks still being sent.  The switch to electronic payments…

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