Government insured reverse mortgages are That second approach, which is not preferred by changing in 2013 and the agency that HUD, would be a moratorium on the fixed manages the program says there are two standard product. directions that change can take. HUD had stated that it prefers to make the The agency prefers to make “refined” changes calculated changes with these specific goals in that would limit the amount borrowers can mind rather than face more drastic program withdraw up front, implement a financial changes that would limit the product’s availability assessment, and possibly establish some type to seniors who need it. of escrow account.
“We all have a strong vested interest in ensuring this program serves borrowers consistently over the long term and having a program that is seniors to seniors and is economically via ble,” a HUD repres ent ative said. “We need to work together toward that outcome.”
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Issue Three
Healthy New Years Resolutions Travel Tips for Seniors Preparing to Visit an Alzheimer’s Family Reverse Mortgages…Changes Coming 2013 Many Do Not Have Plans for Long Term Care
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The study shows that 58% of people ages 45-54 said they do not have plans for long term care. Citing psychological causes linked to inferiority and pride, one reason rang out among surveyed subjects: money. Given this startling majority, Genworth encourages Americans to overcome current fears or uncertainties and educate themselves on the options available to them.
Though money concerns are an inevitable part of seeking long term care, the potential costs of not planning are far more expensive and worrisome than withstanding financial anxieties.
or uncertainties regarding individuals’ wishes for future planning, among seeking the help of trusted long term care partners who can help address personal concerns about the future.
“People often cite money restrictions as a reason to not create a plan, however, not having a basic game plan that allows loved ones to have a general understanding of your wishes could prove to have serious financial repercussions,” said Steve Zabel, senior vice president of Long Term Care Insurance at Genworth.
HomeSafe can provide you with a plan that makes sense for you, your spouse and family. We will clearly define the benefits you will receive, such as: debt reduction, smaller monthly bills, more spendable cash, and the additional income you Bryon Pyle, receive will be tax-free. President of HomeSafe
For solutions, have conversations with loved ones to clear the air of any anxieties
Making the most of your retirement years
time to compliments of HomeSafe | A Division of Crossmark Financial >>>
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Healthy New Year's Resolutions For Seniors The New Year means new starts, and that typically involves making New Year's resolutions. While the old-faithful standbys still exist, adults over the age of 65 can greatly benefit from making healthy resolutions – especially those that help prevent illness and injury. Here are five New Year's resolutions that will keep you feeling young and vibrant. Here are five resolutions that we recommend for seniors entering the new year: Participate in cognitive health activities Mental health is an important aspect of health that we tend to overlook as we extol the benefits of staying physically fit. Keep your mind engaged and stimulated through a
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Financial uncertainty deters many from considering long term care planning, according to Genworth Financial’s 2012 State of Planning Survey.
language class, book club or by playing brain worth the hassle. Make a promise to eat more fresh, healthy fruits and vegetables and you'll games and trivia on the computer. see a noticeable difference in the way you look Exercise or start a new physical activity and feel – and it takes very little work on your Exercise doesn't have to exhausting, and it end. certainly doesn't have to feel like work. Older Make your home safer adults are increasingly looking to classes such as yoga and tai chi to not only increase physical According to the Centers for Disease Control, health, but to meet people and widen their one in three adults over the age of 65 falls each social circles. Other activities like local year. Many of these falls are preventable, walking clubs can be found at many senior especially if home safety tips are implemented. Tips like moving cords out of walkways, organizations and community centers. having good lighting near beds and taping Eat more fresh foods down edges of carpet and rugs can help Processed foods are easy to throw together for tremendously to decrease the number and a meal, but they come with a host of health severity of falls for seniors. issues and concerns, and frankly, they're not Schedule regular checkups Unfortunately, with age comes an increased risk of illness and other complications such as high blood pressure, osteoporosis and other medical conditions. Making sure that you schedule a regular annual checkup can help in early detection and prevention. Not only will these New Year's resolutions improve your mental and physical health, they'll provide social opportunities and benefit your life in multiple ways. What are some of your goals and resolutions for the upcoming year?