Christine S asked:


ok i am going to help elders in retirement homes for extra credit what are some things that they may need help with

Spring is awesome asked:


Our community is planning on destroying the last small peice of reserved farmland left in our area, in order to construct more senior retirement homes. Im not an enviroment freak, but i do have my boundries. i want to start a protest to help our enviroment and stop with more unnecessary excess building. I want to make an impact however, im not too old yet, and dont know where to start to get more people to join. HELP!

p.r. asked:


looking for immediate housing for my aging mother in northern california.santa clara county or alameda county.

Jennifer Stromsteen asked:


An ambitious housing bill has been passed by legislation and is anticipated to be signed into law by President Bush soon. Included in the bill are provisions for those facing foreclosure, the first time home buyer, and help for the low income. This bill brings with it hope of relief from the tough economic times many are facing throughout the country.

The economy today has found many current homeowners facing foreclosure on their homes. When this bill is passed into law homeowners unable to make mortgage payments will be able to refinance their homes more affordably with fixed rate loans that are insured by the federal government. Up to $300 billion of loans will be able to be guaranteed by the FHA. According to the U.S. News and World Report this will be enough funds to modify approximately 400,000 mortgages. The downside to this is that lenders will take a financial loss on the original loan.

Drawing much attention are the provisions for the first time home buyer in this bill. The first time homebuyer, under the new law, will be eligible for up to $7,500 in tax credits. This is not to be confused with a grant, more like an interest free loan that must be paid back over 15 years. When purchasing a first home this can be very helpful none-the-less. If the tax credit is not fully paid when the property is sold, selling for more than the original price, the outstanding balance is due at the time of the sell.

The eligibility requirements for the bill include home ownership status for first time buyers, citizenship, and income limitations. According to the law, a first time home buyer is any buyer who has not owned a home during the last three years. Additionally all U.S citizens are eligible to be a part of the program providing they file taxes.

The tax credit limitations for the first time homebuyer include the filing status of single or head of household being able to claim the full $7,500 if the adjusted gross income is under $75, 000. These persons who earn between $75,000 and $95,000 can claim a partial first time home buyer tax credit. For the status of married filing jointly the income limit is $150,000 to receive the full credit and between $150,000 and $170,000 can claim the partial first time home buyer credit. Tax filers with adjusted incomes greater than the limits shown are not eligible for the tax credit at all.

Homes purchased and closed on between the dates of April 9, 2008 and July 1, 2009 by first time home buyers will receive the tax credit if they are eligible. In addition, if the first time home buyer who qualifies for this credit pays less than $7,500 in income taxes the government will refund the difference. Tax payers who receive tax refunds will have the homebuyer tax credit added to their refund. This tax credit can be claimed on the 2008 or 2009 returns depending on the year the home closes.

The law offers provisions for low income housing and seniors as well; each with their own requirements and regulations. The bill is an effort to help the housing crisis and the economy on the whole.

Antonio Easter asked:


Seniors all across America have looked to Reverse Mortgage as a means to raise finances to help them retire more comfortably. The term Reverse Mortgage though new to some, is not a new term. Seniors have been taking advantage of this mortgage product for some time now. This can be a very powerful financial tool for seniors to utilize in their retirement years.

Due to the massive amount of confusion and misconceptions surrounding this financial product, it behooves seniors to seek out professional advice when considering a reverse mortgage. After reading this article you should able to determined if a reverse mortgage is an option for you or not.

What is a reverse mortgage for seniors?

A reverse mortgage allows seniors 62 years and older to turn the equity in their home into cash. They can chose to receive that cash in a lump sum, on a monthly basis, or in a combination of both. Either way, this is a powerful way of tapping into their equity without taking out a line of credit which demands a monthly payment, and can put their home in jeopardy of foreclosure should for some reason they default on their loan.

The attractive benefit for many seniors is that there are no monthly payments to make, unlike a normal mortgage. The money that is drawn down is tax-free.

While many baby boomers are coming up to retirement, they are realizing that the amount of income that they are going to receive during their retirement is not going to be sufficient to live on. This has led to there being a big increase in interest in reverse mortgages.

The money received can be used for any purpose.

This includes, but is not limited to:

supplementing existing retirement provisions.

paying for medical care or carrying out modifications to the house such as installing a ramp or downstairs shower.

You could even use the money to go on a vacation of a lifetime or buy a new car.

A reverse mortgage is very attractive source of extra income to many seniors. The income from a reverse mortgage does not in any way affect the income that senior may receive from other sources.

Like with any other major decision, seniors are strongly encouraged to seek out professional help when considering a reverse mortgage.