Macon County Humane Society presents SUPER ADOPTION DAY! :: Saturday, April 26 from 11am - 4pm at the Macon County Fairgrounds

- published 3/27 (Larry) - unpublished ?

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Features Business & Finance

Reverse mortgages have become increasingly popular in recent years, as cash-strapped seniors seek ways to keep pace with rising expenses – not to mention cope with the pummeling their retirement savings took during the Great Recession.

But the Department of Housing and Urban Development (HUD) noticed that borrowers increasingly have been opting to withdraw most or all of their home equity at closing, leaving little or nothing for future needs. Consequently, by mid-2012 nearly 10 percent of reverse mortgage holders were in default and at risk of foreclosure because they couldn't pay their taxes and insurance.

That's why Congress authorized HUD to tighten FHA reverse mortgage requirements in order to: encourage homeowners to tap their equity more slowly; better ensure that borrowers can afford their loan's fees and other financial obligations; and strengthen the mortgage insurance fund from which loans are drawn.

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Tips for protecting your identity and money

At least 110 million consumers were affected by the hack involving Target and Neiman Marcus retailers. Whether or not millions more will have their identities manipulated and finances ruined within the coming months due to more breaches of security at other stores is anyone’s guess, says identity theft recovery expert Scott A. Merritt.

“By necessity, I became an expert on identity theft. My information was stolen in 2006, and in repairing the damage, I learned some not-so-obvious ways we can all protect against identity theft in the first place,” says Merritt, CEO of Merritt & Associates (scottamerritt. com) and author of "Identity Theft Do's and Don'ts."

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The new year is a great time to get yourself pointed in the right direction financially.

“Making small improvements at the beginning of the year is a lot easier than trying to play catch-up,” says financial planner Rick Rodgers, author of “The New Three-Legged Stool: A Tax Efficient Approach To Retirement Planning” (www.TheNewThreeLeggedStool.com).

“Just as you would embark on an exercise program to lose weight and get physically fit, there are simple steps you can take that will lead to being financially healthy and fit.”

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The folks at the yarn shop on Main Street have been very busy spinning and dyeing lately, and have unveiled their own, unique line of yarn.

According to Silver Threads and Golden Needles owner Virginia Murphy, PEAKS is a culmination of a love of fiber and color, brought together by Western North Carolina artisans. Virginia’s partners, Kristin McDougall and Amy Murphy, are “so excited to share this new yarn with the knitting and crochet community. It has a handspun look and a beautiful feel that is just perfect for handwork.”

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published: 10/18/2013
old link: http://www.wpfj.com/free-coupons/
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