YOU SHOULD KNOW...
RECENT ACTIVITIES
I am currently involved in several networking groups. A group started at the Sunrise Assisted Living facility in Bloomfield Hills, Michigan will soon be providing a free speaker's bureau to senior groups and their families related to helpful resources that are available for seniors. I'm even surprised about the many resources that are available in Michigan. Our group stay on top of legislation as it affects seniors, the latest techniques for remaining healthy and independent in the later years, ways to protect the assets of seniors, and other resources that can be of value to families. This group is committed to providing a wealth of information that could be very helpful now and in the future if needed.
If you would like to schedule our group of speakers for your senior's centers, contact me.
UPCOMING EVENTS
March 29, 30, 2010 - Exhibiting at the Michigan Department of Transportation (MDOT) annual conference at the Marriott-Centerpointe in Pontiac, MI.
April 24, 2010 - Exhibiting at the Southfield Area Chamber of Commerce Business Expo in the 2000 Town Center atrium. Come talk to lots of businesses in this area that can make your life better.
May 30, 31, 2010 - Table Exhibit at the City of Warren Garage Sale. Come get a brochure and talk to us about your insurance needs. Whether you need insurance now or a year from now, contact us to help you get the policy that is right for you.
WHAT IS A REVERSE MORTGAGES?
Reverse Mortgages, a government program for seniors 62 years and better, was a great program for some seniors a couple of years ago, but the housing crisis makes this a poor choice in areas where real estate values have plummeted.
Two years ago I helped an elderly couple obtain a Reverse Mortgage. They already had an existing mortgage (from refinancing) that took more than half of their monthly Social Security income. The upkeep and utilities on this very large home was costly. The loss of any one of their incomes would have put this couple in a foreclosure situation. The Reverse Mortgage paid off the lein from the refinancing with extra money left for the wife to travel to see her neice in California. A year later, the wife died. Her husband is able to stay in the house and not worry about the cost of paying off a loan from his Social Security check.
Because Reverse Mortgages are non-recourse loans, when the husband leaves the home permanently, his heirs will not be responsible for paying back the loan if they choose not to keep the house. The heirs live out of state and had no intentions of taking over a property with a mortgage lein on it. For this couple, it was a life saver. At least they didn't get one of those Adjustable Rate Mortgages with a balloon payment due. I have met many seniors who actually lost their homes because they borrowed money to make home repairs from one of those predatory lenders. By the time they realized what was happening, it was too late and they had to scramble to find alternate housing when the foreclosure happened.
WHAT'S NEW?
Short Term Major Medical Insurance is a way to protect your health coverage if you are: between jobs, graduating college students who will lose coverage from their parent's plan, or any other reason that you have lost major medical health coverage. You can get insurance coverage as early as the next day after you enroll.
WHAT'S YOUR RISK of ID THEFT?
In the October 2009 issue of the AARP Bulletin, contributor Cathie Gandel reports that consumers can now get a free ID score. Go to the website
www.myidscore.com to get yours. You will have to fill out contact information, but no Social Security number is required. After answering some simple questions about your financial history, you will get a score between 1 and 999. The higher the score, the more you are at risk for identy theft. If your score is high, a link is provided to the nonprofit identy Theft Resource Center, which can help you learn how to protect yourself. Financial institutions and other creditors have used the ID score to determine the risk that customers are who they say they are.
For more information about any of these topics,
Contact Us.