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aarp and reverse mortgages

AARP sues HUD over Reverse Mortgages: What is a reverse mortgage ttp In this video, real estate attorney hugh Fitzpatrick from Tewksbury Massachusetts discusses the lawsuit ...

5 financial struggles senior citizens face beyond retirement

Here are some of the most common financial struggles affecting older consumers, according to the report and discussions with financial experts.

• Trouble keeping up with debt payments. The move to fixed income in general can make it more difficult for retirees to cope with debt payments, be it a mortgage, student loans or credit card debt, says Mike Sullivan, a personal finance consultant with Take Charge America, a national nonprofit credit counseling and debt management agency. "Debt puts a huge strain on the budget," he says, adding that some seniors are carrying more debt into retirement after years of helping children and grandchildren.

Some seniors turned to credit cards after facing an unexpected financial shock, such as a large medical bill, the CFPB report found. In other cases, consumers may be dealing with a relative who is piling purchases on to their credit cards, Sullivan says. Seniors should contact their lenders as soon as they think they may start to fall behind on payments, he says. Some people may be able to have their loans adjusted. A credit counselor may also be able to help them come up with a budget or to remove another person's name from the account, he adds.

Maybe it's time to stash your savings under your mattress – People's ...

Maybe it’s time to stash your savings, including your paycheck, in cash under your mattress. The way the Republican-run Congress is careening towards setting the banks and Wall Street loose to prey upon us again, the gelt might be safer with you at home.

That’s because the House GOP, on a party-line vote, jammed through the so-called “Choice Act” on June 8, the same day the Senate Banking Committee began hearings on the same goal. To say the “Choice Act” doesn’t protect us is an understatement.

Choice Act supporters, led by right wing House Financial Services Committee Chairman Jeb Hensarling, R-Texas, claim it will free up banks to lend more money while at the same time abolishing protections against government rescue of “too big to fail” institutions – the prime problem with the 2008 bank bailout after the Great Recession hit.

Conveniently left unsaid: Financial institutions and their finaglers and fraud brought us the Great Recession, and robbed us of millions of jobs, foreclosed on our houses and turned our promised pensions into worthless pieces of paper.

What are your mute-button commercials?

You know. TV ads that are so annoying that you have to dive for the mute button to avoid hearing them.

Flooring Express. Ugh.