mortgage

Rate Reset for Some Homeowners May Trigger Defaults

Posted on 03/12/2014 by | Money and Work | Comments

Bulletin Today | Money & SavingsThe home foreclosure crisis that swept through the nation during the Great Recession may not be over for thousands of troubled borrowers. Some homeowners who sought help from the government’s Home Affordable Modification Program (HAMP) are about to see their mortgage payments rise this year. In some cases, those payments could eventually go up by more than $1,000 a month, according to the Washington Post. The loan modification program lowered monthly mortgage interest rates for some 1.3 million at-risk homeowners …

Give Today’s Retirees a ‘D’ — for Debt

Posted on 01/22/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsWhat’s quickly eating up a growing share of retirees’ money these days? Not health care, as you might expect, according to a new report by the National Center for Policy Analysis. Over the past 20 years, a greater percentage of older Americans’ dollars has gone to servicing debt, particularly mortgage and home equity loans, the “free market” think tank says. It used government data to compare the spending habits of today’s retirees with those of their predecessors, finding, for instance, that 20 …

A New Voice for Homeowners?

Posted on 08/22/2013 by | Washington Watch | Comments

Bulletin Today | PoliticsWashington hears from interest groups that represent everything from medical specialties to cattlemen to professional wrestlers. Now there’s an organization for one of the largest constituencies in the country: homeowners. The current homeownership rate in the United States is 65 percent (down from a high of more than 69 percent in 2004), according to the U.S. Census Bureau. America’s Homeowner Alliance (AHA) is the brainchild of Phil Bracken, a former executive of Wells Fargo Home Mortgage and now the chief …

The Constantly Moving Target of Debt Freedom

Posted on 08/19/2013 by | The Ultimate Cheapskate | Comments

Money & SavingsIn my line of work as a professional cheapskate, a week rarely passes when I don’t receive a money-related press release or see a news item that leaves me shaking my head about people’s attitudes and behavior when it comes to money.  Adlai E. Stevenson said it 50+ years ago, but it’s apparently all the more true today.  Stevenson said:  “There was a time when a fool and his money were soon parted, but now it seems to happen to …

To Avoid Shelter Skelter, Beware of Property Tax Reassessment Offers

Posted on 07/11/2013 by | AARP Blog Author | Comments

Bulletin Today | Money & SavingsFor many homeowners, property tax bills are mailed in July or August. So now’s the time to watch out for an annual come-on that can ding your bank account: offers to help you pay less in property taxes by getting a property reassessment. Before you bite, know how you can get bitten. First, realize how these offers work: Private companies simply charge $200 or more for what you can do yourself, often for free — filing paperwork at the local …

Next States to Vote Are Ground Zero of Housing Crisis

Posted on 01/24/2012 by | AARP Blog Author | Comments

Bulletin TodayWelcome to the front lines of the housing crisis. Florida and three of the next states to vote in the GOP presidential contest are among the 10 worst foreclosure states in the nation. And there’s not much light at the end of the tunnel: The four states have the highest percentage of homeowners who owe more on their mortgages than their homes are worth. Nevada, which votes Feb. 4, had the worst foreclosure rate in the country in 2011, for …