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AARP sues HUD over Reverse Mortgages: What is a reverse mortgage

netitle.net ttp hughfitzpatrick.com In this video, real estate attorney hugh Fitzpatrick from Tewksbury Massachusetts discusses the lawsuit ...

AARP: 76% of Older Adults Want to Age in Place

While the preference to remain at home remains high for older adults, the intensity of that feeling has dropped over the past decade. In 2010, 74% of adults 50 and over said they strongly desired to remain at home; in 2018, that figure fell to 55%. The overall desire to age in place — which includes people who said they “somewhat agree” — dropped from 86% at the start of the decade to 76% this year.

In order to remain at home, half of all adults said they were interested in joining a “village” in their area and are willing to pay for the services it provides. These “villages” typically take the form of community-based non-profits that provide members access to educational, social, and wellness activities. Other “village” services include volunteer drivers to help seniors stay active as they age, as well as referrals to approved local service providers.

Silvernest Targets Senior Home-Sharing Market with $3M Cash Influx

As the aging population grows and seniors struggle with shrinking retirement benefits, home-sharing is gaining in popularity with baby boomers who want to bring in some extra income — and could emerge as an alternative to tapping into home equity.

One company offering this service is the Denver-based Silvernest, which matches senior homeowners with renters based on applicant profiles and personal preferences. Through the site, homeowners and potential housemates can conduct background checks, “meet” online, create leases, and process rent payments, according to Silvernest CEO Wendi Burkhardt. For boomers and empty nesters looking for extra cash, leasing a room can bring in about $10,000 a year on average.

Home-sharing is not a new idea — think the classic 1980s sitcom “The Golden Girls,” or the popularity of Airbnb for vacation rentals — but it is gaining more traction. Silvernest isn’t the only senior home-sharing service on the marketplace, sharing the space with other sites such as Golden Girls Network and Senior Homeshares, and AARP has found that 4 million women aged 50 and older live in U.S. households with at least two other women over 50. As the population ages, that number is expected to rise.

Is Filing For Bankruptcy In Retirement A Good Thing?

The number of people filing for bankruptcy protection in retirement has soared in recent years — even before the recession.


Filing for bankruptcy would not include long term care since you have to pay monthly for assisted living or nursing care. You are correct that those are out of pocket costs unless you are on Medicaid.

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