Why Seniors Are Feeling the Crunch and Why They Are Turning to Reverse Mortgage in Droves!
By [http://ezinearticles.com/?expert=Tim_G_Robbins]Tim G Robbins

The home that they spent many years to pay off and maintain as their haven is now the one investment that they still have to use for life. Even though many homes throughout the country to loss value over the last few years, they can still be a great source of money and security in these troubled economic times. If you had purchased your home say 30 years ago and did not over burden yourself with refinances and cash out loans you are still sitting on a great stock pile of money.

You love your home you feel safe and secure in your home and which to stay there for the rest of your life and the thought of moving to a strange place and having to start all over again meeting new people then think about what you would do if you had the money to stay at home.

What if you could use a Reverse Mortgage to not only stay in your home for the rest of your life without ever having to make a mortgage payment, and still have an investment building over time. The RM is the only mortgage in the entire world that can accomplish this for you in many different ways, at and the same time you are in complete control of your finances.

In the world of finances especially today you need to have access to cash because to in these uncertain times CASH IS KING…… In having no payments for yourself for the rest of your life and having the option at anytime to draw out money for the things you want or need is critical to surviving into the future.

Now within the Reverse Mortgage you have many options available to you and the best part they can be changed as your situation changes meaning flexibility to meet future changes you are not able to plan for in the future. If take the time to sit with a try professional who understands how the different plans work and can lay out different options that show you how planning within the Reverse Mortgage can give a great sense of security that is not false by no means.

Within the Reverse Mortgage you can choose many different programs from using interest indexes to what margins will be used to determine the money that is available to you in the future or today. Some of the options enable you to take all of the cash at one time and have a fixed interest rate for the rest of your live, while others give the option of receiving cash up front and creating a cash equity account that will grow over time and build a comfortable growth account for future needs. The good thing with the Reverse Mortgage is all about OPTIONS and FLEXIBILITY you do not receive this with any other program.

There are so many choices that you can design for you specific needs and goals and at anytime you can change them again. As long as you have the funds available there is no limit to how you can receive funds over and over again. The fears of the Reverse Mortgage are rumors at best and simply because most people listen to uninformed or uneducated people who heard a story somewhere and then it was changed over time. Remember the story of sitting 10 people in a circle and telling the first person a story and then each person tells the story to the person next to them and by the time it gets to the 10 person the story is not what is started out to be. Well this is what has happened in the   rel=nofollow Reverse Mortgage industry, the story has changed over and over again.

The Best Myth

I really like this one because it shows how ignorant people can really be when they listen to uninformed people telling stories.

I heard this story when speaking to a person who was considering if a Reverse Mortgage would wok for them it goes like this.

I was told by a friend of mine that they heard that there was a woman who took out a Reverse Mortgage and when she did it she not only lost all of here money but she also lost her home and had to live on the street. How ridicules’ does this one sound to you?

First thing to questions is how did she loose her money did she drop it or did she take all of the money in cash and go to a casino and place it down of BLACK for spin of the wheel. Simply because if she had taken all of the money and even if she did this the mortgage did not cause her to loose the money. In addition to that she would not have lost her home there are only a few ways that someone could ever not be able to stay in their home for the rest of their life.

If they stop paying the taxes on the home!

If they did not keep their homeowners insurance in force!

If the failed to maintain the home!

If they did not keep the home as their primary residence!

These are the only reason that anyone would have to pay back the loan balance of a Reverse Mortgage. With any of the above reason they would have to sell the home the bank would not and could not take the home with out due cause.

So if you want to know the truth about a Reverse Mortgage stop listening to stories and rumors and get the facts from and expert who can guide you through the entire details and give you all of the positives and the few negatives the do exists.

Is a Reverse Mortgage for every person the answer is NO this is not a vehicle for short term money it is a mortgage for life or at least 5-10 years, this way the cost that are associated with the mortgage can be recouped over time. Remember what ever the cost are if you are going to live in your home for the rest of your years then you do not have to worry about the cost, neither do your heirs they are not responsible to pay it back it will be paid from the proceeds of the sale of your home after you are gone.

Tim Robbins,Sr is a senior Reverse Mortgage Specialist with Equitable Reverse Mortgage. The main goal is to provide the best education resources available and to all place the seniors first and foremost. My website is designed to give you all available information which you can review either in print or video by visiting http://bestmortgageplans.com for all you senior resource you may also contact me Toll free at 800-610-3599 for a Free Report on Reverse Mortgages

Article Source: http://EzineArticles.com/?expert=Tim_G_Robbins [http://ezinearticles.com/?Why-Seniors-Are-Feeling-the-Crunch-and-Why-They-Are-Turning-to-Reverse-Mortgage-in-Droves!&id=2137833 ]http://EzineArticles.com/?Why-Seniors-Are-Feeling-the-Crunch-and-Why-They-Are-Turning-to-Reverse-Mortgage-in-Droves!&id=2137833

The Senior Reverse Mortgage Program Has Evolved Over the Years and is More Attractive Today
By [http://ezinearticles.com/?expert=Tim_G_Robbins]Tim G Robbins

Since the beginning of the federally insured Reverse Mortgage in 1988 when the government started regulating them, the program has gone through many changes that have not only created more security for the senior homeowner, but reduced fees and increased borrowing limits. Also not to mention increased the options that are available for the senior to choose from or change too over the years.

Unlike any other program in the mortgage industry there is no program that even comes close to the Reverse, it is designed to have the most flexibility, and the safest to all seniors who own their home and are over 62 years of age. Now in 2009 where more and more seniors are seeing the true value of a Reverse Mortgage, and that it is not just for the seniors who are poor, it is just about for everyone who is concerned with having security in these troubled economic times! Yes security simply because the statistics show the 78% of all seniors who elect to take out a Reverse Mortgage utilize the Equity Credit Line which is built into the adjustable rate program.

Now in addition; there is a program for the person who has fear of adjustable rate mortgage which is understandable they can elect to have a fixed interest rate that stays the same forever, but they must receive all of the money at the time of closing. There are no other options at this time. So I guess you are wondering why that is, well it is because of the investor market for selling mortgage backed securities. When investors are looking to invest they look for the greatest return over time, and buy investing in a fixed interest on the return and a fixed amount of the total debt there is not inflationary rate of return. As with the adjustable the rate of return can be much greater over the life of the loan, which can be upwards of 20 to 30 years depending on how long the senior lives. This is important simply because the Reverse Mortgage is a long term investment, and there are no payments over the years until the senior ceases to live in the home as their primary residence or the past away.

Over the years that the Reverse Mortgage has been in existence, the Fannie Mae has been the purchaser of mortgage backed securities of the Reverse Mortgage, but now they are mandated by the treasury to reduce the balance sheets over the next two years, so the industry bankers will be looking for new ways to attracted investors. In doing so they must be able to package up these securities and make them attractive to the investors. This will only be accomplished by increasing the margins that are charged on each loan, the higher the margin I.e. fixed profits.

For instance; today the margins that are added to the index to come up with the effective interest rate are something like this Margin 225 tied to the Libor, 250 tied to the CMT or ( Constant Maturity Treasury) or 275 CMT, just to name a few. Not to mention the fixed rate, this is regulated by the bond market just like conventional mortgages!

In the near future will see the margins start to increase to maybe 3-4-5% to make them more attractive to the independent investor who is looking for security and rate of return. See unlike traditional mortgage securities the Reverse Mortgage is a protected investment, and the reason being the lose factor is almost non-existent. The money that is loaned out the senior is insured that it will be returned to the bank over a period of years, because the one thing that is certain is that the senior is going to die at some point in the future. This is determined by the actuarial tables that also determines how much monies will be available at what age of the senior.

A person at age 62 will receive for less then a senior who is 80 years old, because the life expectancy is less for the 80 year old person then that of the 62 year old person. Remember the senior stays in the home and makes no mortgage payments of any kind until the cease to live in the home as their primary residence, by death or the sale of the home.

Flexibility

Within the Reverse Mortgage the senior is in total control as the how they receive the money from the mortgage and how the spend the money. The options are only restricted by the plan that they choose to use!

· They can take all of the money

· They can take a portion of it and leave a portion of it in the credit line

· They can take a monthly amount for a term period

· They can what is called a Tenure for life

· They can take Tenure for a portion and have credit line.

· They can change the program from time to time.

· Then can withdraw lump sums at anytime.

As you can see the possibilities are endless these are just a few ways that a senior can utilize the mortgage. Also if at anytime they decide or have the means to payoff the loan they can do so without any prepayment penalties.

TODAY’S ECONOMY

In these uncertain times unlike anytime in history it is more important to have a security instrument in place for the unexpected twist and turns that our lives may take in the future simply because of he unprecedented world of the economy. If a person does not need the funds currently they will have the option of having a credit line that is sitting in the wings, growing over time by .50% more then the interest rate of the loan balance, available to them if and when they ever need it.

The one thing that we all can expect is change and that change can be dramatic and it can be devastating so if you are concerned and you are a senior homeowner over the age of 62 stop listening to uninformed people who give wrong advice and speak to a professional who understands and is knowledgeable about the   rel=nofollow Reverse Mortgage and secure your future today before the margins increase to 3-4 or 5% plus the indexes and if inflation starts to come back and it will you will not be able to maximize your portfolio act now.

Tim Robbins, Sr is a senior Reverse Mortgage Specialist with Equitable Reverse Mortgage. The main goal is to provide the best education resources available and to all place the seniors first and foremost.

My website is designed to give you all available information which you can review either in print or video by visiting http://bestmortgageplans.com for all you senior resources you may need for a good life.

Also contact me Toll free at 800-610-3599 for a Free Report on Reverse Mortgages

Article Source: http://EzineArticles.com/?expert=Tim_G_Robbins http://EzineArticles.com/?The-Senior-Reverse-Mortgage-Program-Has-Evolved-Over-the-Years-and-is-More-Attractive-Today&id=2150854

Cyber Security Tip ST04-017
Protecting Portable Devices: Physical Security   

Many computer users, especially those who travel for business, rely on
laptops and PDAs because they are small and easily transported. But while
these characteristics make them popular and convenient, they also make them
an ideal target for thieves. Make sure to secure your portable devices to
protect both the machine and the information it contains.

What is at risk?

Only you can determine what is actually at risk. If a thief steals your
laptop or PDA, the most obvious loss is the machine itself. However, if the
thief is able to access the information on the computer or PDA, all of the
information stored on the device is at risk, as well as any additional
information that could be accessed as a result of the data stored on the
device itself.

Sensitive corporate information or customer account information should not
be accessed by unauthorized people. You’ve probably heard news stories about
organizations panicking because laptops with confidential information on
them  have  been lost or stolen. But even if there isn’t any sensitive
corporate information on your laptop or PDA, think of the other information
at risk: information about appointments, passwords, email addresses and
other contact information, personal information for online accounts, etc.

How can you protect your laptop or PDA?

* Password-protect your computer – Make sure that you have to enter a
password to log in to your computer or PDA (see Choosing and Protecting
Passwords for more information).
* Keep your laptop or PDA with you at all times – When traveling, keep
your laptop with you. Meal times are optimum times for thieves to check
hotel rooms for unattended laptops. If you are attending a conference or
trade  show, be especially wary—these venues offer thieves a wider
selection of devices that are likely to contain sensitive information,
and the conference sessions offer more opportunities for thieves to
access guest rooms.
* Downplay your laptop or PDA – There is no need to advertise to thieves
that you have a laptop or PDA. Avoid using your portable device in
public  areas, and consider non-traditional bags for carrying your
laptop.
* Be aware of your surroundings – If you do use your laptop or PDA in a
public area, pay attention to people around you. Take precautions to
shield yourself from “shoulder surfers”—make sure that no one can see
you type your passwords or see any sensitive information on your screen.
* Consider an alarm or lock – Many companies sell alarms or locks that you
can use to protect or secure your laptop. If you travel often or will be
in a heavily populated area, you may want to consider investing in an
alarm for your laptop bag or a lock to secure your laptop to a piece of
furniture.
* Back up your files – If your portable device is stolen, it’s bad enough
that someone else may be able to access your information. To avoid
losing all of the information, make backups of important information and
store the backups in a separate location (see Good Security Habits for
more  information).  Not only will you still be able to access the
information, but you’ll be able to identify and report exactly what
information is at risk.

What can you do if your laptop or PDA is lost or stolen?

Report the loss or theft to the appropriate authorities. These parties may
include representatives from law enforcement agencies, as well as hotel or
conference staff. If your device contained sensitive corporate or customer
account  information,  immediately  report  the  loss or theft to your
organization so that they can act quickly.
_________________________________________________________________

Author: Mindi McDowell
_________________________________________________________________

Produced 2004 by US-CERT, a government organization.

Note: This tip was previously published and is being
re-distributed to increase awareness.

Terms of use

http://www.us-cert.gov/legal.html

This document can also be found at

http://www.us-cert.gov/cas/tips/ST04-017.html

To Protect yourself from having your Identity Stolen go to http://www.timrobbinstv.com/next

Fact is you are 10 time more likely to have you identity stolen

then you are to have a car accident or end up in the hospital

It is estimated by the FTC that 30 Million people will have their Identity Stolen in 2010

or to make is more exact 7 or 10 people

Indentity Theft is Real and On the

 Rise 

Five Major Things That Can Destroy Your Life Today

• Drivers License

• Social Security

• Medical Information

• Character/Criminal Actions

• Financial Transactions

There actually 101 real issues you should not about that you can try and do to protect yourself and your family. To see what you can do go to this free website that you can get a Free Copy of  a 72 page report from the Federal Trade Commission go to http://timrobbinstv.com/next

National Foundation for Debt Management, Inc. has begun a new program to help build financial knowledge, confidence, and security in seniors. The next session will be at The Sunshine Center in St. Petersburg, FL on Friday, Dec. 5, 2009. Please pass along details of this opportunity to your senior friends and loved ones.

Discussion topics will include tips to:

*Stay Active and Engage with Others
*Monitor Your Financial Affairs
*Get Organized
*Beware of Telemarketers
*Be Cautious when Making Financial Decisions
*Stay Away from Predatory Lenders

This presentation will also include helpful information on:

*What to Do if You Lose Your Wallet
*Steps to Take if Your Identity is Stolen
*Laws that Protect Your Money
*Laws that Protect You when You Borrow Money

Friday, Dec. 5, 2009.

12-1 pm

The Sunshine Center

330 5th St N.

St Petersburg, FL  33701-2812

A complimentary lunch will be provided.

Please R.S.V.P to (727) 893-7101

Tools ‹ Paying-It-Forward — WordPress.

It’s easy to get a loan these days and that is a fact. It could be home equity loan or mortgage loan and the availability of easy home quality loans is in demand. Why? Simply because this loans are tenable, easily available, uncomplicated, very flexible and tailor made for home owners. The great thing about is, almost all financial institution offers them.

Mortgage is a loan to finance the purchase of real estate usually with specified payment periods and interest rates. The borrower or mortgagor gives the lender mortgagee a lien on the property as collateral for the loan.

Let’s face the truth that most home buyers have to borrow money in order to purchase their home and only few can afford. Mortgage allows the borrower to keep the title of the property while using the property as a security or collateral for a loan. If the owner fails to pay the agreed payment, the lender then places a lien on the property. Once the borrower pays the loan, he or she will be given an assurance and satisfaction that the lien will be removed from the property.

Income for mortgage is the collected interest paid by borrowers. There are two different of mortgage. The point discount points and origination points. Lenders does not all charge same amount for these two types of mortgage. The discount points is like a prepaid , the amount of money paid to a lender to obtain a loan at a specific interest rate. While the origination points are used to pay for the cost of obtaining the loan in the first place. It is lesser than the discount points because they do not provide borrowers with any valuable benefits and are not tax deductible.

Think it can't happen to you Think Again

1 in 10 affected by identity theft wind up with a criminal rap sheet, or even incarcerated, having not ever committed a crime!

Could you imagine one moment you’re writing a check for your monthly bills and the next your buried in court documents and legal paperwork trying to save yourself from permanent credit damage. Meanwhile spending thousands of dollars to help fix this problem that could have been easily prevented.

 Stop it from happening to you don’t wait another moment it may have already happened to you and you don’t even know it. http://timrobbinstv.com/protect

Save Yourself from the Credit Monster

Debt Settlement and how it can help

If you are a person who is struggling to keep afloat and your bills are piling up your credit card companies have increased you interest rates you may never pay off you debt.

Think about this alarming numbers if you have $10,000 in Credit Card Debt alone! 

Assume your interest rate is 24%

Let’s assume you are making the minmum payment just keep up on $10,000 balance the payment is $70.00 per month

If you pay just the minimum payment it will take you 2,792 months to pay it off!

Which is in case you don’t know 232 Years Which means you will never be out of debt with just $10,000 credit card debt.  Over the life of the Credit card you will pay $197,306 back to them

But the fact is You will NOT live that Long

So there are four things you can

• Increase you minimum payment and reduce your years to pay it off

• You can go to Credit Counseling company and your payment will be $257.00 per month and you will pay off the card in 60 Months AND PAY BACK $15,443.00

• You can go to a Debt Consolidation Company and your Payment would be $217.00 per month and it will take you also 60 months to pay it off. You will have paid back $13,045.00

• Or you can have Debt Settlement your payment would be $229.00 per month and you will payoff the payment in 24 months and only have paid a total amount of money you will pay back is $5,500

Which Plan do you think wil help you the most to find out where you are go to http://destroymydebt.net/robbins

Help Yourself first because the Credit Card Companies won’t help you the want you to be in debt to them for the rest of your life. Ask Yourself this!

Which would you rather have

$5,500.00

or

$197,306

Tim Robbins helping people across America for over 30 Years to see and talk with me go to

http://www.bestmortgageplans.com  or Ring Me NOW Here

Quicken Loans has earned its place as one of the nation’s largest mortgage lenders and the leading online lender, offering superior customer service and innovative home loans. But don’t take our word for it.

This conclusion was made based not only on the customers’ reports but as well based on the country’s top reporters and industry analyst’s ideas.

FORTUNE Magazine considered Quicken Loans as one of its “100 Best Companies to Work” for in the United States.

Forbes, PC Magazine and Money Magazine recognized Quickenloans.com as a favorite online mortgage lending site.

According to National Mortgage News, Quicken Loans is the largest virtual lender in the U.S. of 50,000 lending online companies.

The company is so popular and successful due to the expert employees. They manage to bring income and satisfy the needs of the customers. Quicken Loans professionals are often quoted in the top newspapers, on radio as well as in business television programs.

CNBC, Squawk Box quoted the Chairman of the company Dan Gilbert, “People have to really look at an adjustable rate mortgage versus a 30-year fixed because they pay a huge premium for the longer term mortgage. You wouldn’t insure your home that’s worth $200,000 with a $500,000 policy, so why lock in a rate for 30 years if you’re only going to be in that home for three or four years?”

USA Today published the analysis of the chief economist at Quicken Loans, Bob Walters. He said, “Financing a home with an equity line can be particularly useful to business owners or commissioned salespeople whose income arrives in fits and starts.”

CBS MarketWatch heard senior vice president of Quicken Loans, Stephen Piazza, say “A borrower in a secure job and unlikely to be transferred, or a family that intends to stay put for 20 years, are good candidates for fixed-rate mortgages. And some borrowers are simply unable to stomach ARM risk. You have to say, If your payment went up $200 would you be ok? Some clients aren’t and they’re not comfortable thinking that may happen.”

New York Times: Bob Walters, Chief Economist, “People say, ‘rates are rising, I need to lock in a 30-year rate.’ But the rate environment is less important than matching one’s mortgage to their situation.”

When people know what to say they definitely know what to do. Every deed begins in mind, it is born with a thought.

I am in the middle of exploring all avenues of income generation for one of our clients.  She is approaching 90 and is in remarkable health and her mind is still sharp as a tack.  She lives in a nice home, almost 2,000 square feet and feels comfortable and safe there even though she lives alone.  She looks into the future and sees that there is a possibility of running out of money and needs to lower her expenses.

Since  I am also a licensed real estate agent we have explored the possibility of selling her home and moving into either an independent living or assisted living facility.  Even with the soft real estate market she could come away with a nice little chunk of change that should last her.  However, she just doesn’t want to move.

So that is when I started looking at reverse mortgages and I called a colleague of mine, Heather Carr who specializes in reverse mortgages.  We set up a meeting with my client and I really learned a lot about the process.  Years ago the reverse mortgage industry was soiled by some flakes who took advantage of the seniors.  Now those mortgages are FHA loans insured by the federal government and really offer seniors another option for acquiring needed funds without selling their home.

But it seems lately that if it is a government program then it is subject to change and this one is no different.  There are going to be big changes to the program starting in January 2010 and if there are seniors out there who might be considering a reverse mortgage then now is the time to start the process.

Below is a note that Heather sent me with her contact information on it.  Give her a call and set up an appointment.

As each of you know, I had the opportunity to attend the National Reverse Mortgage Loan Association’s annual conference last week in San Diego, CA. I came away from these meetings quite concerned that several announced changes to the FHA reverse mortgage program effective Jan 1, 2010 will have a profound negative impact on Senior customers. One of the biggest changes is that appraisals on their homes are going to be ordered by the bank or done by bank appraisers instead of an independent appraiser.I am concerned because with anticipated lower appraised values our senior clients will not receive as much money on their reverse mortgages after January 1st. The appraisal is one of the three parts of the FHA formula used to determine how much money they can receive today.I would encourage each of you to contact all senior borrowers and strongly urge them to take the necessary next steps  to protect and  maximize the total amount of money they will be eligible to receive under the FHA reverse mortgage program. Encourage all seniors contemplating an FHA reverse mortgage that they need to IMMEDIATELY: 1)       Schedule mandatory FHA reverse mortgage counseling. 2)       Complete a reverse mortgage loan application. 3)       Have us schedule an FHA appraisal of their residence                        before Jan 1, 2010 with an independent appraiser. Time is critical and it is extremely important that you communicate this information to all senior borrowers that have expressed an interest in the reverse mortgage program. Sincerely, Jerry Craig, Sr. CEO Traditional Home Mortgage, LLC

Sincerely,

If you are one of the many seniors who followed the plan and put away your money in your company’s retirement program over the last twenty-five years on a regular schedule and pick what you thought were sound investments, you thought you would have a nice nest egg to live off the rest of your years. In theory it should have worked out well for you, but the problem is that while you were saving for the rainy day retirement fund the one thing that you never new was brewing throughout the world was what I like to the Big G. So I guess you are wondering what the Big G is well it is something that just got so big that it hate itself.

The Big G is Greed the single biggest factor and in fact in my opinion is the number one reason for the financial mess that the world is in today. The Greed Factor is wide spread it has hot every segment of the economy and each and every hard working person in the country. The one thing that continually going on was that if they can get one then they could ten and then twenty and fifty and so on until the bottom had no choice but to drop out and the ride was over. The ride was good for so many people the biggest problem was that all of the people who trust the money keepers that they could continue on forever and the script was so well written they everybody believe it. It does not matter what investment it was from real estate to stocks, there had to be a hole in the donut somewhere and it had to come to and end sometime.

The seniors put all of their faith in the system and the system let them down in a big way, many have seen all of their hard work go right down the drain and the ones that are responsible for handling the investments had shown no remorse. In fact they turned around and held the country and the world at gun point and forced a bail-out of their mistakes. The problem is that the bailout should have gone to fix the peoples losses and not the ones who made the most profits from the losses.

I read an email a while back and it made more sense then anything I had read that either came out of the government or anywhere else and it went something like this, so think about this real hard. If you take the entire amount of the two stimulus packages which was around 1.5 trillion dollars to date and you took all of the money and took every person in the country who pays taxes and this to me was the key Pays Taxes and you divided the money up equally between each person and sent them a check tax free. The check would equal somewhere in the area of $250,000 tax free this would correct the economy. People who received this check would have been able to pay off or pay large amount of the credit issues off they would be able to purchase goods and services and much more then just giving it to the same people who cause the problem in the first place. Think about this; what could you have done if you were sent a tax free check in the amount of $250,000 do you think that this would change your life financially. Would it not have reduced people bad debt and banks and creditors would have the money that was loaned out back in their pockets in many cases. Even if the person who received it went out and just blew the money it would have been put into the economy one way or another that money would be in circulation today.

They would buying cars, houses, goods and services and even paying off debt, if this would have taken place there would be more capital going around the country and the world and even the people who lost their jobs would have been able to survive or start a business and not be wards of the government. The biggest problem is that this is to simple and not complex enough to keep the average person confused for life. With all of the money that has been loaned or given away to all of the banks and companies has it changes your retirement income for the future in anyway shape or form. The answer to that is no and it will not simply because if you are at the age of 70 when you can receive the most from Social Security you just don’t have enough time left in your life to get it all back in your lifetime.

Now the fact is this will never happen the government or anyone else is going to hand you $250,000 tax free and not have to pay it back right! Well that is not completely accurate because there is a program that is complete for seniors who are over the age of 62 and have work hard to keep their homes. These same people are the ones who built this country and they deserve to have a program that will give them back some of the money they given up because of what the greedy investment and company owners have taken away. This exclusive program has over the years receive good and bad press and the real truth is that the people who say negative statements are most likely the same people that took you r money in the first place. The program is the Reverse Mortgage, this program gives the availability to take a portion of the equity you have in your home and use it tax free and you never have to pay it back in your lifetime. In many cases people are able to take care of the mortgage that they currently have and pay if off completely and eliminate payments, which in turn increase their income dramatically.

In other case where people who do not have a mortgage they can have a large sum of money to use anyway the see fit to use it or they can choose to have a month check for the rest of their lives no matter how long they live. They can also have a combination of choices as to how they want to receive the money over years or they can just have if something comes along in the future. Yes there are people that say that the cost of a Reverse Mortgage is very expensive; but the fact is very simple the cost of doing nothing and just stressing your life over things that you cannot control it more expensive then the cost of receiving a lifetime of piece of mind. Not to mention the cost of a Reverse Mortgage is not and upfront cost it is spread out over the life of the loan even though it comes out up front from the total proceeds.

Now here is the simple way to determined how much money will be available to you gross! If you are currently at the age of 65 and you have your home that you owe nothing on take your age and minus 5 years and this would be the estimated gross amount you would receive percentage wise about 60% of your homes value and from that the cost of the loan closing cost and insurance is deducted which on the average is around 10% in the first two years. Remember this; the longer you stay in your home the less it will coast over years, meaning added to the loan balance. Since you are going to be able to stay in your home for the rest of your lives without have to make any payments ever again other then taxes and insurance you will not only have more money but you will have less stress in your life and live longer and have a better quality of life in the year that you should. So think Reverse Mortgage and don’t let the negative people sway you from enjoying what you worked so hard to achieve they have already taken away the other parts that you work hard for over your life.

Tim Robbins, Sr. is a senior Reverse Mortgage Specialist. My main goal is to provide the best education resources available and to always place the seniors interest first and foremost. My website is designed to give you all the available information which you can review either in print or video by visiting http://bestmortgageplans.com for all your senior resources to help you enjoy a good life. Also contact me Toll free at 800-610-3599 for a Free Report All About Reverse Mortgages you can call my 24/7 recorded HOT LINE at 1-800-610-3599 Serving all of Florida and New Jersey.

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First let’s look at where we have been in the past and then we will look into the future and get some strategies that you can implement to protect your assets for the future. If you are over the age of 80 you are one of the few people that know what happen in detail when the great depression hit even though you would have been a baby at the time, you must have heard stories from your mom and dad or relatives.

The depression hit in 1929 when the entire US economy clasped, which cause many wealthy people and some not so wealthy people to end their lives because they did not have protection in place. The key to surviving is having a fail safe program in place that will protect from total failure. The difference from 1929 and today is that every aspect of today’s economic melt down is it is worldwide. The issues; there are hundreds of millions of more people in the world then there was then. Most people today do not realize nor do they think that most of their wealth is in the single largest investment that they ever made and that is their home.

Yes the home is and was for most people the single largest investment of their life! The home in the US and the equity that is just sitting around untapped is estimate at well over 2 Trillion dollars; just for people over the age of 62 and growing faster than any other segment in the country today. This is true even though the values of homes around the country have been declining over the last 5 or so years.

You see most people do not understand that fact that equity in your home does not mean you are wealthy unless it is working for you to solve a problem for you. If you have $200,000 or more equity in your home or even a lot less you are what is called House Rich and Cash Poor! Understand that having a home that is yours and owning out right just means you have no payments it does not mean that your equity can do anything for you unless you have cash to make things happen to will either grow your cash flow or maintain your life for many years without stress. Here lies the problem, you have what is called a net worth of $200,000 or what ever, but if a situation in your life appears if you don’t have the cash to fix the problem you still have a net worth but you cannot spend it to fix your problem or invest it to increase your wealth.

So now let’s look at some strategies!

Strategy # 1

Increasing your Income Tax Free

To maintain a standard of living, some older homeowners are starting to convert home equity to monthly income. This approach is a relatively new concept that has gained momentum with the development of reverse mortgages. Financial professionals are also beginning to explore different options for using home equity to increase and annuitized income. The foundation for retirement security has traditionally likened to a three-legged stool consisting of savings, pensions, and Social Security.

Recent financial trends suggest that this conventional approach is becoming less effective. The savings rate among Americans has declined significantly since the 1980s-reaching its lowest level in 2004 since the Great Depression-although it recently turned upward. Compounding these cash shortfalls is the decline of defined benefit plans, which leaves many Americans facing a future with less guaranteed retirement income.

As the cost of living continues to rise, many older Americans find it hard to make ends meet. Researchers estimate that nearly 78% of all older adult households do not have sufficient resources to sustain them through their retirement years. Baby Boomers are also concerned about being able to maintain their standard of living as they grow older. Older workers who expect inadequate retirement income, or a less reliable source of income, such as a defined benefit plan, are more likely to plan to use home equity to pay for retirement expenses.

Option One

To increase monthly annuitized retirement income is to defer Social Security payments. Retirees receive a reduced monthly benefit at age 62 and progressively larger benefits for each month they postpone benefits up to age 70. Elderly widows could see the greatest benefit, since deferral would increase the expected value of their monthly survivor benefits. To maximize their monthly payments, as well as that of their spouses and other dependents, people near retirement could continue working. However, this option may be difficult for workers in physically demanding occupations, and those who are limited by health problems. To help workers who anticipate a long life, and who must retire before age 70, some financial professionals are recommending a term home-equity loan or reverse mortgage to help pay for everyday expenses for a few years until they are eligible for maximum Social Security benefits.

Option Two

Another option for older homeowners to ensure retirement income would be to buy a “longevity” annuity with their savings, and tap small amounts of home equity to fill financial gaps until they start to receive their annuity payments. Longevity annuities require a smaller investment than an immediate annuity because they usually do not begin payouts until after age 80 or 85. This approach could be attractive to older americans who worry that purchasing an immediate annuity will leave them little cash to pay for unexpected expenses or to leave a bequest. Consumers should carefully examine the fees associated with longevity annuities, since they can be expensive.

Option Three

This option is one that reduces stress and also is the safest option of the three, it requires very little on your part and is the easiest to accomplish. By utilizing the equity in your home and not using available saving or other instrument you can have the best of all worlds. Let’s look back a few decades and see what became available that had never been available before for many people especially seniors over the age of 62. As they age, people face a growing possibility that a costly health problem could disrupt their family budgets. When they cannot make their monthly loan payments, they may lose their houses.

A recent study found that by the end of 2007, more than 684,000 homeowners age 50 and older were delinquent in mortgage payments or in foreclosure. A reverse mortgage allows older homeowners to defer monthly mortgage payments on a conventional home loan. Borrowers (or their heirs) do not have to repay the loan until the last borrower dies, permanently moves out, or vacates for a period of 12 months. About 46% of reverse mortgage borrowers surveyed by orgainizations have paid off their regular mortgage in this way. Some are transferring their existing housing debt to meet the requirement that a reverse mortgage be in primary lien position. Anecdotal evidence suggests that growing numbers of older homeowners are taking out this type of loan specifically to avoid the need to make monthly mortgage payments.

Using home equity to manage debt became popular after the Tax Reform Act of 1986 phased out the deduction for interest on credit cards, auto loans, and most other types of consumer debt while preserving tax deductions for certain home loans. Since then, borrowers have shifted from installment plans to tax-advantaged mortgages and home-equity loans to pay for major purchases such as cars and appliances. Easy access to credit also provided lower-income households with greater liquidity to purchase the goods and services that they need to continue to live at home.

Using housing wealth to manage consumer debt can enhance a person’s standard of living. But if this resource is not used wisely, it can also be a source of financial insecurity. Older homeowners often take on sizable debt without considering the potential impact of these loans on their long-term retirement security. Using a reverse mortgage to defer debt payments can also be risky. Borrowers who use loan funds early in their retirement may have little home equity later in life. Borrowers continue to accumulate interest payments on the loan balance as long as they stay in their homes. Those who continue to live in their homes for many years may find that they have little or no home equity left after they repay the loan.

This could be problematic for older adults who need to move to an assisted living facility or other supportive setting as they become frail and in need of care. Without sufficient funds, some may need to turn to Medicaid to pay for long-term care.

Having Reverse Mortgage in place and setting it up I a way that takes into consideration of things that may or may not take place in the future is what a Reverse Mortgage is all about. The flexibility within the mortgage affords you the option unlike anything else anywhere. You control the amounts and timing and you can change it as situation change. In addition; it gives you the freedom to decide what, when and how you can receive income or payments and unlike most of programs depending on how you choose to receive you can never out live the money no matter what happens in the future. You will also never in your lifetime have to pay anything back it all happens when you are gone and no longer live in your home as your primary residence.

The Reverse Mortgage is so versatile in everyway from choosing how interest charges accumulate over time meaning a fixed rate verses adjustable. You can also choose how you will receive the money either all at one time or over a specific time period or for life. Not to mention you can also have the amount that is set aside for the future grows over time. This option is the built in Equity Credit Line! This part is only available when using the adjustable rate program, but it is the one that really gives you the most flexibility for a real edge against inflation.

Any financial expert who is worth a grain of salt has to agree that in our latter years we need the maximum amount of security coupled with the maximum amount of flexibility and that is what the Reverse Mortgage can and does for millions of seniors. So don’t look at the Reverse Mortgage as just another mortgage, look at it has the ultimate program that can do more things to protect your future and provide for today at the same time all it needs is to be setup properly from the on set and then adjusted as your own personal situation changes and there is one the thing that you can count on it that your financial situation will change the is no doubt about this. It is not IF it is when.

Tim Robbins,Sr I am a senior Reverse Mortgage Specialist. My main goal is to provide the best education resources available and to always place the seniors interest first and foremost. My website is designed to give you all the available information which you can review either in print or video by visiting http://bestmortgageplans.com for all your senior resources you may need for a good life. Also contact me Toll free at 800-610-3599 for a Free Report All About Reverse Mortgages receive it via email

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It has become an epidemic in the world of senior citizens who are sitting in their home, worrying about how they will survive the many financial issues that may and will surface in their retirement years. Most seniors and their families just go through doing without the simple things like medicines, personal care items and other things that make their lives more comfortable. This does not have to happen since the majority of seniors whom own their homes are sitting on their largest portion of the estate right under their feet.

Here’s the problem; most of them do not even realize that they have a wealth of financial resources just sitting collecting dust in their home that they spent a lifetime of paying for and budgeting to make sure they paid off their home. It would able to take care of them in the Golden Years. When they purchase their home years ago when they were going to raise a family, no one told them about the real purpose of buying home really was going to be to them. The belief that the home was a place to raise their children and provide warmth and comfort was the only thing they could even think about at that time.

In the era of the seniors productive earning years they provided for their families, worked hard to keep a roof over their heads provide and care for their children, save and budget so they would be good parents. Now fast forward to today; they are now doing without and in many cases they are doing without too leave their kids something of value. The main issue is that they are still denying themselves of the things that they really need to live a life at the time in their lives that they should be enjoying their life. No one knows how the rumor got started, that parents are supposed to die and leave everything that they worked a lifetime to build to their children. As in many cases the children actually believe that they are entitle to inherit the fruits of their parent labors

Where has all this come from, can it be that the children really believe they should get anything, since they were raised, put through school and got three meals and day and in many cases even more! In today’s environment the children of seniors should only be concerned that their parents are able to provide for themselves and not be a burden on their children who in these trouble times are struggling financially themselves. With unemployment at and all time high and projected to go even higher over the next twelve months or so, many children across the country are having to move back home. In these cases it will place another hardship on their parents meaning additional expenses within the home.

Children of seniors should stop and think about the facts that their parents worked all of their lives, they did everything right from saving, pay off their mortgage and trying to provide for their retirement years. They listen to all of the financial gurus and the government who made provisions to save tax free and grow tax deferred and then from all of the greed throughout the world they got screwed in the end. Now at this unprecedented time in history with most pension, IRA’s and investment portfolios in ruin or at an all time low they need to look to other source of money to use to provide for their future. The future is now and in this ever changing environment and government changes they should seriosly think about the Reverse Mortgage before the Government Changes or does away with the most stable and most satisfying to seniors ever created.

The one place that they did make the safest and securest investment which did not start out that way was in their homes. It is stated that there is an estimate Two Trillon dollars in equity sitting around that many seniors could be using to provide for themselves and living a life that is safe and secure and not sitting up all night worrying.

The Reverse Mortgage is not for every person who is over the age of 62 but in addition to providing a safe and secure venue to access money which is tied up in homes, it will also provide a great financial planning tool for the estate of many seniors when it comes time for their children when the time comes to take care of the final estate issues. So if you are wondering about if and how a Reverse Mortgage can help you and your parents get relief take the test and see if it will work for you.

Tim Robbins,Sr I am a senior Reverse Mortgage Specialist. My main goal is to provide the best education resources available and to always place the seniors interest first and foremost. My website is designed to give you all the available information which you can review either in print or video by visiting http://seniorconsumerreport.com and take the Reverse Mortgage Test with no obligation just education which is the first step that every senior must take. And for all your senior resources you may need for a good life. Also contact me Toll free at 800-610-3599 for a Free Report All About Reverse Mortgages and to receive a Free DVD in the mail Click Here
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Many people find it easy and convenient to use credit cards and ATM or debit cards. The Fair Credit Billing Act (FCBA) and the Electronic Fund Transfer Act (EFTA) offer procedures for you to use if your cards are lost or stolen.

Limiting Your Financial Loss
Report the loss or theft of your credit cards and your ATM or debit cards to the card issuers as quickly as possible. Many companies have toll-free numbers and 24-hour service to deal with such emergencies. It’s a good idea to follow up your phone calls with a letter. Include your account number, when you noticed your card was missing, and the date you first reported the loss.

You also may want to check your homeowner’s insurance policy to see if it covers your liability for card thefts. If not, some insurance companies will allow you to change your policy to include this protection.

Credit Card Loss or Fraudulent Charges (FCBA). Your maximum liability under federal law for unauthorized use of your credit card is $50. If you report the loss before your credit cards are used, the FCBA says the card issuer cannot hold you responsible for any unauthorized charges. If a thief uses your cards before you report them missing, the most you will owe for unauthorized charges is $50 per card. Also, if the loss involves your credit card number, but not the card itself, you have no liability for unauthorized use.

After the loss, review your billing statements carefully. If they show any unauthorized charges, it’s best to send a letter to the card issuer describing each questionable charge. Again, tell the card issuer the date your card was lost or stolen, or when you first noticed unauthorized charges, and when you first reported the problem to them. Be sure to send the letter to the address provided for billing errors. Do not send it with a payment or to the address where you send your payments unless you are directed to do so.

ATM or Debit Card Loss or Fraudulent Transfers (EFTA). Your liability under federal law for unauthorized use of your ATM or debit card depends on how quickly you report the loss. If you report an ATM or debit card missing before it’s used without your permission, the EFTA says the card issuer cannot hold you responsible for any unauthorized transfers. If unauthorized use occurs before you report it, your liability under federal law depends on how quickly you report the loss.

For example, if you report the loss within two business days after you realize your card is missing, you will not be responsible for more than $50 for unauthorized use. However, if you don’t report the loss within two business days after you discover the loss, you could lose up to $500 because of an unauthorized transfer. You also risk unlimited loss if you fail to report an unauthorized transfer within 60 days after your bank statement containing unauthorized use is mailed to you. That means you could lose all the money in your bank account and the unused portion of your line of credit established for overdrafts. However, for unauthorized transfers involving only your debit card number (not the loss of the card), you are liable only for transfers that occur after 60 days following the mailing of your bank statement containing the unauthorized use and before you report the loss.

If unauthorized transfers show up on your bank statement, report them to the card issuer as quickly as possible. Once you’ve reported the loss of your ATM or debit card, you cannot be held liable for additional unauthorized transfers that occur after that time.

Protecting Your Cards
The best protections against card fraud are to know where your cards are at all times and to keep them secure. For protection of ATM and debit cards that involve a Personal Identification Number (PIN), keep your PIN a secret. Don’t use your address, birthdate, phone or Social Security number as the PIN and do memorize the number.

The following suggestions may help you protect your credit card and your ATM or debit card accounts.

For Credit and ATM or Debit Cards:
Be cautious about disclosing your account number over the phone unless you know you’re dealing with a reputable company.
Never put your account number on the outside of an envelope or on a postcard.
Draw a line through blank spaces on charge or debit slips above the total so the amount cannot be changed.
Don’t sign a blank charge or debit slip.
Tear up carbons and save your receipts to check against your monthly statements.
Cut up old cards – cutting through the account number – before disposing of them.
Open monthly statements promptly and compare them with your receipts. Report mistakes or discrepancies as soon as possible to the special address listed on your statement for inquiries. Under the FCBA (credit cards) and the EFTA (ATM or debit cards), the card issuer must investigate errors reported to them within 60 days of the date your statement was mailed to you.
Keep a record – in a safe place separate from your cards – of your account numbers, expiration dates, and the telephone numbers of each card issuer so you can report a loss quickly.
Carry only those cards that you anticipate you’ll need.
For ATM or debit cards:
Don’t carry your PIN in your wallet or purse or write it on your ATM or debit card.
Never write your PIN on the outside of a deposit slip, an envelope, or other papers that could be easily lost or seen.
Carefully check ATM or debit card transactions before you enter the PIN or before you sign the receipt; the funds for this item will be fairly quickly transferred out of your checking or other deposit account.
Periodically check your account activity. This is particularly important if you bank online. Compare the current balance and recent withdrawals or transfers to those you’ve recorded, including your current ATM and debit card withdrawals and purchases and your recent checks. If you notice transactions you didn’t make, or if your balance has dropped suddenly without activity by you, immediately report the problem to your card issuer. Someone may have co-opted your account information to commit fraud.
Buying a Registration Service
For an annual fee, companies will notify the issuers of your credit card and your ATM or debit card accounts if your card is lost or stolen. This service allows you to make only one phone call to report all card losses rather than calling individual issuers. Most services also will request replacement cards on your behalf.

Purchasing a card registration service may be convenient, but it’s not required. The FCBA and the EFTA give you the right to contact your card issuers directly in the event of a loss or suspected unauthorized use.

If you decide to buy a registration service, compare offers. Carefully read the contract to determine the company’s obligations and your liability. For example, will the company reimburse you if it fails to notify card issuers promptly once you’ve called in the loss to the service? If not, you could be liable for unauthorized charges or transfers.

For More Information
The following federal agencies are responsible for enforcing federal laws that govern credit card and ATM or debit card transactions. Questions concerning a particular card issuer should be directed to the enforcement agency responsible for that issuer.

Board of Governors of the Federal Reserve System
Regulates state-chartered banks that are members of the Federal Reserve System, bank holding companies, and branches of foreign banks:
Division of Consumer and Community Affairs, Stop 801
20th and C Streets, NW
Washington, DC 20551
202-452-3693
www.federalreserve.gov

Federal Deposit Insurance Corporation
Regulates state-chartered banks that are not members of the Federal Reserve System:
Division of Compliance and Consumer Affairs
550 17th Street, NW
Washington, DC 20429
877-ASK-FDIC (275-3342) toll-free
www.fdic.gov

National Credit Union Administration
Regulates federally chartered credit unions:
Office of Public and Congressional Affairs
1775 Duke Street
Alexandria, VA 22314-3428
703-518-6330
www.ncua.gov

Office of the Comptroller of the Currency
Regulates banks with “national” in the name or “N.A.” after the name:
Office of the Ombudsman
Customer Assistance Group
1301 McKinney Street, Suite 3710
Houston, TX 77010
800-613-6743 toll-free
www.occ.treas.gov

Office of Thrift Supervision
Regulates federal savings and loan associations and federal savings banks:
Consumer Programs
1700 G Street, NW
Washington, DC 20552
800-842-6929 toll-free
www.ots.treas.gov

Federal Trade Commission
Regulates other credit card and debit card issuers:
Consumer Response Center
600 Pennsylvania Avenue, NW
Washington, DC 20580
877-FTC-HELP (382-4357) toll-free
www.ftc.gov

The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.

June 2002 PROTECT YOUR BEST ASSET YOU DON’T WAIT ANOTHER MINUTE IT MAYBE TO LATE

It’s not hard to see why ads for business opportunities that promote the benefits of being your own boss and making money quickly are appealing. But the Federal Trade Commission (FTC), the government agency that monitors advertising for deception, says that some ads for business opportunities feature empty promises and false claims that potential entrepreneurs could never realize.

Promoters of fraudulent business opportunities run ads where their targets are likely to see them: in daily and weekly newspapers, in magazines, and on the Internet. The FTC is asking for your help in finding these ads first. By doing so, you can protect your company and your readers from being left holding the bag.

As part of an advertising sales or production staff, you customarily review ad claims for taste and appropriateness. It’s just good sense to take that extra moment to review a business opportunity claim for telltale signs of fraud, too.

It can protect your company from being known as one that promotes rip-offs. Your readers may believe an offer is legitimate because it’s in your publication or on your website. When the claim turns out to be false, they may well blame you for running the ad.

It can keep you from getting cheated by those who are making the false claims. There’s a good chance they won’t pay their bills, and will have left town by the time you try to collect.

It can keep you from harming your readers and your legitimate advertisers.

Spotting False Claims
How can you spot claims for a fraudulent business opportunity? One clue may be the type of opportunity being advertised. Fraud has most often been associated with promotions for vending machine, display rack, pay phone, medical billing, and some Internet-related businesses.

Here are several other claims that have made it into the pages of legitimate papers, magazines and websites recently:

“Work Part-Time from Home.” Most scammers promise an ideal work situation — the ability to set your own hours, be your own boss, or work from home. In fact, this rosy scenario is far from reality for most small business owners. “Be Your Own Boss” “Own a Dealership Today”

“Earn $2,000 a month.” If an ad claims buyers can make a certain amount of money, the law says the promoter must give the number and percentage of previous purchasers who earned the income. If an earnings claim is there, but the additional information isn’t, ask for more information: the business opportunity seller may be violating the law. “$50K/yr” “Vending route nets $1,700/wk”

“No risk! Guaranteed!” Ads that promise a big payout with little or no risk are usually a telltale sign of a fraud. Legitimate business ventures involve risks — usually in proportion to the promised return. “Huge Income” “100% return on your investment!”

“Quick and Easy!” Successful start-up businesses, including franchises, require a lot of work to get off the ground, let alone manage. Only a few are profitable from the start. If ads promise vending locations, they may not be current or high-traffic; the merchandise also may be out-of-date or of poor quality. “Start Earning Today” “Prime locations available now”

These are examples of possibly deceptive claims. If you see them, highlight them for the appropriate person in your company. At the same time, know that many fraudulent business opportunity promoters use more subtle language when making promises, guarantees, and claims that they can’t possibly keep.

By taking a few moments to review the claims made in business opportunity ads, you can protect the reputation of your company — and the consumers in your community.

For More Information
For information on red flag claims for weight loss products, visit ftc.gov/redflag. If you see an ad you think is deceptive, you can report it to the FTC using the complaint form at ftc.gov.

The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.

Your Opportunity to Comment
The National Small Business Ombudsman and 10 Regional Fairness Boards collect comments from small businesses about federal compliance and enforcement activities. Each year, the Ombudsman evaluates the conduct of these activities and rates each agency’s responsiveness to small businesses. Small businesses can comment to the Ombudsman without fear of reprisal. To comment, call toll-free 1-888-REGFAIR (1-888-734-3247) or go to www.sba.gov/ombudsman.

ORIGINAL PRINT DATE December 2006 For the opportunity to see a legal and ligitimate business opportunity CLICK HERE

Federal Trade Commission Bureau of Consumer Protection Division of Consumer & Business Education
February 2009
Seeing Through Stimulus Scams
With talk of stimulus plans ruling the news, it’s no surprise a new round of stimulus scams are afoot.
Here’s how it goes: An email, online ad, or website says you’re eligible to get an economic stimulus payment. You just have to send back a form or submit one online to get it. The message might appear to come from a rebate company or look like it’s straight from the Internal Revenue Service (IRS).
But the promise of stimulus money in return for a fee or financial information is always a scam, according to the Federal Trade Commission (FTC), the nation’s consumer protection agency.
There’s more than one way to perpetuate a stimulus scam. Some scam artists ask you to send a small processing fee, supposedly to get a much larger check in return. That’s money you’ll never see again. Others skip the fee, and instead, ask for your bank account number so they can “deposit” your check. Then, they use the information to clean out your account or open new ones using your identifying information.
Some stimulus scams encourage you to click on links, open attached forms, or call phony toll-free numbers. But simply clicking the link or opening the document can install harmful software, like spyware, on your computer. The result could be your personal information ending up in the hands of
an identity thief.
If you get a message offering you money from the stimulus program in exchange for your personal information, ignore it, delete it, or throw it out. The IRS doesn’t send emails like this asking for
personal information, and rebate companies claiming to have stimulus payments for you should not
be trusted, regardless of how plausible the script sounds or how official the forms look.
When a stimulus plan does involve a check to you (it may not), you won’t need to fill out a
separate form in an email or give out personal information — like account numbers or your Social Security number — to someone who calls you out of the blue.
If you get an unexpected email from someone claiming to be from the IRS and asking you to call a number or email back personal information, forward it to phishing@irs.gov, then delete it without clicking on any links or opening any attachments. If you think you are the target of a scam, you also
can file a complaint with the FTC at ftc.gov/complaint.
If you need to reach an agency like the IRS, don’t use phone numbers or links included in an email. Always type the web address directly into your browser, and look up any url you aren’t sure about.
Use phone numbers listed on agency websites or in other reliable sources, like the Blue Pages in
your phone directory.
The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad. Learn how you can proect yourself from being victim just click here

Identity theft occurs when someone uses your personally identifying information, like your name, Social Security number, or credit card number, without your permission, to commit fraud or other crimes.

The FTC estimates that as many as 9 million Americans have their identities stolen each year. In fact, you or someone you know may have experienced some form of identity theft.
The crime takes many forms. Identity thieves may rent an apartment, obtain a credit card, or establish a telephone account in your name. You may not find out about the theft until you review your credit report or a credit card statement and notice charges you didn’t make—or until you’re contacted by a debt collector.

Identity theft is serious. While some identity theft victims can resolve their problems quickly, others spend hundreds of dollars and many days repairing damage to their good name and credit record.  Some consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, housing or cars because of negative information on their credit reports. In rare cases, they may even be arrested for crimes they did not commit.

How do thieves steal an identity?

Identity theft starts with the misuse of your personally identifying information such as your name and Social Security number, credit card numbers, or other financial account information. For identity thieves, this information is as good as gold.
Skilled identity thieves may use a variety of methods to get hold of your information, including:

1. Dumpster Diving. They rummage through trash looking for bills or other paper with your personal information on it.

2. Skimming. They steal credit/debit card numbers by using a special storage device when processing your card.

3. Phishing. They pretend to be financial institutions or companies and send spam or pop-up messages to get you to reveal your personal information.

4. Changing Your Address. They divert your billing statements to another location by completing a change of address form.

5. Old-Fashioned Stealing. They steal wallets and purses; mail, including bank and credit card statements; pre-approved credit offers; and new checks or tax information. They steal personnel records, or bribe employees who have access.

6. Pretexting.  They use false pretenses to obtain your personal information from financial institutions, telephone companies, and other sources.  For more information about pretexting, click here.

What do thieves do with a stolen identity? Find Out More Click Here

“We suspect an unauthorized transaction on your

account. To ensure that your account is not

compromised, please click the link below and confirm

 your identity.”

“During our regular verification of accounts, we couldn’t verify your information. Please click here to update and verify your information.”

Have you received email with a similar message?

It’s a scam called “phishing” — and it involves Internet fraudsters who send spam or pop-up messages to lure personal information (credit card numbers, bank account information, Social Security number, passwords, or other sensitive information) from unsuspecting victims. (Read On)

According to OnGuard Online, phishers send an email or pop-up message that claims to be from a business or organization that you may deal with — for example, an Internet service provider (ISP), bank, online payment service, or even a government agency. The message may ask you to “update,” “validate,” or “confirm” your account information. Some phishing emails threaten a dire consequence if you don’t respond. The messages direct you to a website that looks just like a legitimate organization’s site. But it isn’t. It’s a bogus site whose sole purpose is to trick you into divulging your personal information so the operators can steal your identity and run up bills or commit crimes in your name.

OnGuard Online suggests these tips to help you avoid getting hooked by a phishing scam:

• If you get an email or pop-up message that asks for personal or financial information, do not reply. And don’t click on the link in the message, either. Legitimate companies don’t ask for this information via email. If you are concerned about your account, contact the organization mentioned in the email using a telephone number you know to be genuine, or open a new Internet browser session and type in the company’s correct Web address yourself. In any case, don’t cut and paste the link from the message into your Internet browser — phishers can make links look like they go to one place, but that actually send you to a different site.
• Area codes can mislead. Some scammers send emails that appear to be from a legitimate business and ask you to call a phone number to update your account or access a “refund.” Because they use Voice over Internet Protocol technology, the area code you call does not reflect where the scammers really are. If you need to reach an organization you do business with, call the number on your financial statements or on the back of your credit card. And delete any emails that ask you to confirm or divulge your financial information.
• Use anti-virus and anti-spyware software, as well as a firewall, and update them all regularly. Some phishing emails contain software that can harm your computer or track your activities on the Internet without your knowledge.

Anti-virus software and a firewall can protect you from inadvertently accepting such unwanted files. Anti-virus software scans incoming communications for troublesome files. Look for anti-virus software that recognizes current viruses as well as older ones; that can effectively reverse the damage; and that updates automatically.

A firewall helps make you invisible on the Internet and blocks all communications from unauthorized sources. It’s especially important to run a firewall if you have a broadband connection. Operating systems (like Windows or Linux) or browsers (like Internet Explorer or Netscape) also may offer free software “patches” to close holes in the system that hackers or phishers could exploit.

• Don’t email personal or financial information. Email is not a secure method of transmitting personal information. If you initiate a transaction and want to provide your personal or financial information through an organization’s website, look for indicators that the site is secure, like a lock icon on the browser’s status bar or a URL for a website that begins “https:” (the “s” stands for “secure”). Unfortunately, no indicator is foolproof; some phishers have forged security icons.
• Review credit card and bank account statements as soon as you receive them to check for unauthorized charges. If your statement is late by more than a couple of days, call your credit card company or bank to confirm your billing address and account balances.
• Be cautious about opening any attachment or downloading any files from emails you receive, regardless of who sent them. These files can contain viruses or other software that can weaken your computer’s security.
• Forward phishing emails to spam@uce.gov – and to the company, bank, or organization impersonated in the phishing email. Most organizations have information on their websites about where to report problems. You also may report phishing email to reportphishing@antiphishing.org. The Anti-Phishing Working Group, a consortium of ISPs, security vendors, financial institutions and law enforcement agencies, uses these reports to fight phishing.
• If you believe you’ve been scammed, file your complaint at ftc.gov, and then visit the FTC’s Identity Theft website at ftc.gov/idtheft. Victims of phishing can become victims of identity theft. While you can’t entirely control whether you will become a victim of identity theft, you can take some steps to minimize your risk. If an identity thief is opening credit accounts in your name, these new accounts are likely to show up on your credit report. You may catch an incident early if you order a free copy of your credit report periodically from any of the three major credit reporting companies. See www.annualcreditreport.com for details on ordering a free annual credit report.

Learn other ways to avoid email scams and deal with deceptive spam at ftc.gov/spam.

How to Report if You Have Been a Victim of a Phishing Scam

Forward spam that is phishing for information to spam@uce.gov – and to the company, bank, or organization impersonated in the phishing email. Most organizations have information on their websites about where to report problems.

If you believe you’ve been scammed, file your complaint with the FTC, and then visit the FTC’s Identity Theft website at ftc.gov/idtheft. Victims of phishing can become victims of identity theft.

You also may report phishing email to reportphishing@antiphishing.org. The Anti-Phishing Working Group, a consortium of ISPs, security vendors, financial institutions and law enforcement agencies, uses these reports to fight phishing.

To Join in the fight and to help in Paying-It-Forward go to http://www.timrobbinstv.com/payitforward

Happy Thanksgiving

As I sit giving thanks for the things and talents that I have been given, I am reminded of the Saying that has hit me the most in my life. There is no other saying that I have ever heard that has had more impact on my life, and it is not a cliché.

 The saying that has had such an impact on my life is Pay-It-Forward, so I have made this my passion in life to always work to pay-it-forward to every person I come in contact in my life. You are the next person I want to Pay-It-Forward too.  

That’s what brings to me to the reason of my post; it’s about helping people save themselves from being a target. The fact is that some               30 million people in 2010 will be hit by a major issue and the worst part is that most likely won’t know about it for six months after it happens.

 The stagger facts is 7 out of every 10 people in the US and Canada will in some way be hit with the largest single crime in history and it does not have to happen. The Crime is Identity Theft!

 Yes it is the number one single crime in America and Canada and it is doubling every year and one of the driving forces today is the economy.  

Think about this fact from the “Federal Trade Commission”   20,000 Children and Teens alone will have their identity stolen before they even have a chance to use it. “In 2010 alone”

 Like I said the worst part is that if they knew if or when it is going to happen they would want to do something to stop it before it’s too late. But it’s not too late for 80% of the population who is sitting out there as a big bold target just waiting to be hit. It will come that you can be sure of it just a matter of time.

 If you are in business or not I’m sure you know how important it is to give something that will have a major lasting impact on their lives. What better way to say I value you as a friend, then to educate them on the high probability that they will be hit sometime in their life! But if they take steps now they can avoid it from happening to them.

Not only can they protect themselves they can also insure themselves that if it happens they are fully covered and will have everything restore.

Let me ask you; do you know all of things that can happen to a person when their identity is stolen? Well there are over 101 real issues that can happen and it does not have to be this way. This is the really sad part; most people protect their home with insurance, they protect their lives, cars, businesses and boats not to mention they protect their health. But they don’t protect the biggest part of their lives; which is protecting them from losing the ability to being able to purchase any of the insurances listed not to mention receive credit or bank accounts just to name a few.

 The top five things that can be attack are:

1.    Drivers License

2.    Medical Records

3.    Criminal Record

4.    Credit and Financial

5.    Employment/ Social Security

 This is the scariest thing of all it can happen and they don’t even know about it until it’s too late, in fact 25% of all people who are victims of this crime won’t know it until 6 months after it has happened. It does not have to happen at all!

 If you would like to help me help people and Pay-It-Forward and get paid very well to help me then just go www.timrobbinstv.com/PayItForward  and give a gift of personal security and peace of mind to everyone you know or will ever meet they will Thank you for it.  

If you would like to join me in the crusade to help people across America and Canada get the protection and security they so desperately need then go to http://www.timrobbinstv.com/PayitForward today and let’s help people today.

Sincerely Pay-It-Forward

Tim Robbins

Concerned about People

Education and planning are the keys to making decisions especially when it involves care while aging.  You need to be proactive and know what resources and options are available.  With the education and a plan you have more options and can be proactive rather than reactive.

As Forest Gump said, “Life is like a box of chocolates, you never know what you’re gonna get.”  This is especially true for aging.  In mid November I was fortunate to participate in and be considered a trusted advisor at the Minnesota Private Duty Home Care Conference, “Keeping Mom and Dad at Home”.  During the conference attendees were encouraged to plan the future as they would a trip, looking at what would they put in their suitcase for the journey of aging and be prepared for what isn’t known to happen along the way.

Conference attendees reviewed what is known about seniors and their families.  We looked at what is known about seniors:

• They underestimate their situations
• They don’t want to worry or be a burden to their children
  • So seniors don’t tell their children what’s going on
• They want their families help
  • Families often don’t have the time or the financial means to help
• Role reversal is uncomfortable
• They are fearful of nursing homes and moving
• 93% say they want to stay in their home

Then we looked at what we know about the families of seniors:

• They want to help
• They are busy; they are the sandwich generation dealing with their own family, careers, life
• They see changes but don’t know what they mean or what the warning signs are
• They may become frustrated with their parents denials
• Role reversal is uncomfortable
• It’s generally women who are doing the caregiving; Minnesota is #1 in the country for working women.

Consider what’s important to the seniors, what do they want for their journey?  It’s important to involve the seniors in the process, the plan, and have them agree with the plan.  Discuss their wishes along with what you think is needed.  What will provide them their security, independence, dignity and control of their life?  Including a mediator and/or trusted advisor is a good idea.  If they are resistant to bringing someone else in, discussing their options, or accepting outside help, tell them that they may not need this but that you do.

By being educated and having your plan in place if a crisis occurs means more options will be available along with decreased costs.  Being reactive at a time of crisis means less options are available along with greater costs.  Emotional and reactive decisions make for poor choices and actions made from regret and guilt.

Part of the education and planning means getting the facts.  Unfortunately we have been conditioned to think that seniors will end up in a nursing home; that an assisted living facility provides all the care needed and is often the only option; that home care is short term and the nursing home and/or assisted living is safer than being at home.

We need to recondition our thinking to:

• Seniors can live at home indefinitely
• Home care can provide a nursing level of care at home
• Living at home can be safer; you receive a 1 to 1 ratio of care versus 1.5 or more of care per person
• Living at home is affordable

Let’s compare the costs of home care options and assisted living rent and with home care options:

Let’s look at selling and moving into an assisted living vs staying at home with a reverse mortgage:

Details: Home Value $200,000; 80 year old (reverse mortgage funds available will depend on age, older one is more funds available)

Now let’s take the net proceeds and compare living in an Assisted Living to living at home with a reverse mortgage and receiving home care.

¹These rates do not take into consideration care packages or increases in rent charges so it’s likely that the number of years the net proceeds would cover will be less.

²With the reverse mortgage there is a growth rate factor that is passed along to the borrower.

³This time can be extended if you are receiving Medical Assistance or other public programs such as Elder Waiver, Alternative Care or qualify for Medicare covered Home Care.

You have choices and can have control over where want to live and the care you receive. You have the right to say, I want to stay in my home (or keep my parents in their home).  When educated and with a plan for the journey,  you will have more choices and life will be easier.

Additional Suggested Reading:  “I Want To Stay In My Home – Don’t Tell Me to Sell!” and “Reverse Mortgages Finance Home Care,” “Know A Senior Who Wants Security, Independence, Dignity, and Control? A Reverse Mortgage May Be The Answer!“  and “Reverse Mortgages Help Celebrate Independence.“

© 2009 Beth Paterson http://BethsReverseMortgageBlog.wordpress.com 651-762-9648

Note:  This information and these home care and senior housing figures are  reflective of costs in Minnesota and are a compilation provided by the home care agencies at the 2009 Minnesota Private Duty Home Care Conference.  They are approximations and can vary by company, agency, facility and geographic area.

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This is the 24 thousand dollar question? The only mortgage product that carries a 97% satisfaction rate and seniors are still not taking advantage of a program that can change their retirement years for ever.
Q: So Why is it that they still fear it?
A: Well the number one reason that I have found is they still lack the understanding of the safety of the mortgage. They listen to everyone in the media who says it’s bad!
Q: So why does the media say it is a bad program?
A: The media always plays their stories to the bad side of everything this is a Fact. Listen or Read a Newspaper or article how many times you really get good news on the front page or as a lead story. Bad News Sells this is the facts. The other issue is in most cases the person who is doing the story is not a senior who is in trouble financially or has seen their life saving disappear.
Q: So what makes this Mortgage have a 97% satisfaction Rate over other programs?
A: Well let’s look at the program and what it does for seniors that NO other mortgage or public program can do.
1. It allows a senior to use their number one asset and convert it into cash or credit line without having to qualify.
2. Once they have a Reverse Mortgage they never have to make a mortgage payment ever again in life.
3. They can remain in their home for the rest of their life; No one can ever take the home for failure to make their mortgage payment.
4. Having money to pay for necessities such as medicines, healthcare, even trips or just going to the movies if they wish. In other words More Freedom
5. The only requirement that they have to make is what they must do in any mortgage, Pay Taxes, Pay Insurance, live in their home and keep the up keep going.
Q: So how can a senior receive the money?
A: This is the best part the senior can choose to receive the money in a multitude of ways that they can change over time.
1. Such as first they can take all of the money at once.
2. They choose to have a monthly income for life and this does mean life until the last person dies or moves out of the home.
3. They can setup a credit line that keeps growing and never adds to the loan balance until the money is actually used.
4. They can choose any one of the different ways to control the money it’s up to the senior no one can tell them how or what to do with the money.
Q: What does it take to qualify for a Reverse Mortgage?
A: This is the easiest part for any senior! If a senior or couple they must be 62 years or older. They must hold title to the home it does not have to be free and clear but it should have at least 50% equity.
Q: Can the Bank take my Home?
A: No Plain and Simple the bank does not take title to your home you remain the owner at all times.
Q: What about my children or heirs?
A: This is a question that many seniors ask and the easy way to answer this is simple If you needed money and not just five dollars to pay for medical, taxes, or other large expenses would your heirs or children send or be able to send you the money just because you asked? Here is the answer to the 64 Thousand dollar question they are in most cases suffering the same financial issues as you and in some cases even more the economy has not chosen who to hurt it affects everyone in different ways.
Here my question to you the reader!
Q: Where is it written and who said that it is the responsibility of a parent to leave anything to their children or heirs? If you have this answer please post it so everyone can see that this is not nothing but a falsies. The only obligation that seniors have is to you; and to give yourself the life you worked their entire life for and not put a burden on anyone else financially. Now that does not mean they cannot ask or receive help from family for other issues if they take care of their financial lives and keep their heirs from incurring debt when you are gone. The Reverse Mortgage is the only NON_RECOURSE LOAN AVAILABLE
For more information on how a Reverse Mortgage can help go to the Reverse Mortgage GUIDE

By Frederico Stevanin

If you are looking for a loan from a Proprietary Lender, they have to provide you with a list too, but counseling session is not required. However, it is absolutely beneficial that you do get one.

A counselor will look at your income and cost of living to see how your budget and a loan can fit, explain rights as well responsibilities that come with signing up a reverse mortgage loan contract.