This is the general over 50 chat forum. Please introduce yourself here. Let us know what youre thinking about, any resources or help you wold be interested in, and bring up topics of general interest to baby boomers and seniors. http://boombaby.org/over50chat/list/2Thu, 09 Sep 2010 23:06:01 -0500 Phorum 5.2.14 http://boombaby.org/over50chat/2/23/23/_subject_#msg-23 http://boombaby.org/over50chat/2/23/23/_subject_#msg-23
Does anyone wish to express their needs for or not for companionship during their elder years when finding themselves alone...?

Sandra...]]> Sandra Coffee Break Sat, 03 Apr 2010 06:16:27 -0500 http://boombaby.org/over50chat/2/22/22/_subject_#msg-22 http://boombaby.org/over50chat/2/22/22/_subject_#msg-22
No, not for everyone. The idea of not making mortgage payments and staying in your home until you die is great, but, for one thing, a reverse mortgage won't pay for full time care in your home should you need it...

Let's indicate someone is to live another ten years and now pays a mortgage of $300.00 a month, $3,600.00 a year and $36,000.00 for ten years. This person has a home value of $150,000.00 with an equity invested at 50% (75,000.00). Getting a reverse mortgage would be no problem here but dying in ten years would be outright robbery for the financier...

It would seem best to borrow against the equity, put that money in an interest bearing account and then have the mortgage payments, taxes and insurance withdrawn automatically... The estate at death will still have an equity of $39,000.00 ($75,000.00 less $36,000.00) from year one and gain back more each following year. The only difference will be having to pay the interest against the equity loan less the interest earned from the loan being in an interest bearing account...

Now, this is just an example, and does not apply to everyone. It's simply a classic example to provide reason to seek advice from more than one person...

Meanwhile, from all I have read, indications are that no company wants to give a reverse mortgage beyond 40% of a property value unless the equity is much higher...

Is it complicated...? Yes, and lenders are inconsistant. My suggestion is that if anyone is considering a reverse mortgage that they speak to their bank financial officer and also seek further information and financial terms from a financial retirement specialist...

Sandra...]]> Sandra Coffee Break Fri, 02 Apr 2010 21:39:21 -0500 http://boombaby.org/over50chat/2/13/21/_subject_#msg-21 http://boombaby.org/over50chat/2/13/21/_subject_#msg-21
I do wish your endeavor to grow and am sure it will if you can get some advertising out beyond just surfing...

Sandra]]> Sandra Coffee Break Fri, 02 Apr 2010 21:12:23 -0500 http://boombaby.org/over50chat/2/4/20/_subject_#msg-20 http://boombaby.org/over50chat/2/4/20/_subject_#msg-20
I am the newest, no doubt, and this is my first venture for an internet escape of personal intertainment. More about that later, I am sure...

I thought a forum ideal and have been out of my wits this evening from viewing so many and this forum appears to have real sensible people posting and, most difficult to believe, so many posts are recent and not several years old...!

Sandra...]]> Sandra Coffee Break Fri, 02 Apr 2010 21:00:17 -0500 http://boombaby.org/over50chat/2/12/19/_subject_#msg-19 http://boombaby.org/over50chat/2/12/19/_subject_#msg-19
Physicians, clinics, hospitals, etc., will be filing claims, as usual, but cost factors (pricing) will change and the government will be subsidizing payments to those facilities as well as insurance companies and drug companies accordingly.

Even now, perhaps most people are not aware, those that are using Plan D, the prescription drug plan is being subsidized already by the government. In other words, what a person is paying for a particular prescription is not the full cost of that prescription. Insurance companies are getting the "above your cost" amount in subsidy...

At present, Obamacare has a long way to go, 2014, and then it will need debugging, we can expect some suffering situations. There are some changes in affect this year regarding the plan and we can also expect them to require debugging, especially with the Medicaid provisions...

I personally was wishing for socialized medecine but as much as I don't like this Obamacare, it does provide some very beneficial improvements, especially for so many un-insured. What I don't like is that it does not reign in the power of the insurance companies and drug companies whom still have the ability to raise prices...

Sandra...]]> Sandra Coffee Break Fri, 02 Apr 2010 20:50:02 -0500 http://boombaby.org/over50chat/2/18/18/_subject_#msg-18 http://boombaby.org/over50chat/2/18/18/_subject_#msg-18Just want to say Hello to the group. Look forward to hearing from you or joining you for chat.]]> denimjeans Coffee Break Sun, 28 Mar 2010 16:38:20 -0500 http://boombaby.org/over50chat/2/12/17/_subject_#msg-17 http://boombaby.org/over50chat/2/12/17/_subject_#msg-17
You have raised an interesting point. Er uh...right or wrong, I'll worry about Medicare when I get there. Since you raised that concern, the new health care bill was passed. Let's hope.]]> Eva Pasco Coffee Break Tue, 23 Mar 2010 15:38:18 -0500 http://boombaby.org/over50chat/2/4/16/_subject_#msg-16 http://boombaby.org/over50chat/2/4/16/_subject_#msg-16
May this forum soar!]]> Eva Pasco Coffee Break Tue, 23 Mar 2010 15:36:28 -0500 http://boombaby.org/over50chat/2/13/14/_subject_#msg-14 http://boombaby.org/over50chat/2/13/14/_subject_#msg-14
Welcome, and thanks for the good wishes. This is about the 4th iteration of this particular site - but over50web.net - the sister website - has been very popular.

Feel free to stop by and let us know what's on your mind!]]> David Coffee Break Mon, 22 Mar 2010 23:01:30 -0500 http://boombaby.org/over50chat/2/13/13/_subject_#msg-13 http://boombaby.org/over50chat/2/13/13/_subject_#msg-13 Chantelle Coffee Break Fri, 19 Mar 2010 05:18:58 -0500 http://boombaby.org/over50chat/2/12/12/_subject_#msg-12 http://boombaby.org/over50chat/2/12/12/_subject_#msg-12
But now I saw a spot on the news about the same subject. What's going on here? Do we need to worry that by the time we get to Medicare age (if not there yet), it will be almost useless. This is scary.]]> David Coffee Break Fri, 12 Mar 2010 09:23:29 -0600 http://boombaby.org/over50chat/2/4/11/_subject_#msg-11 http://boombaby.org/over50chat/2/4/11/_subject_#msg-11
As frustrating as it is to those of us who want this over 50 community to get off the ground, I know it is more frustrating for you.]]> David Coffee Break Fri, 12 Mar 2010 09:21:07 -0600 http://boombaby.org/over50chat/2/4/5/_subject_#msg-5 http://boombaby.org/over50chat/2/4/5/_subject_#msg-5 BoardBoss Coffee Break Wed, 10 Mar 2010 09:57:02 -0600 http://boombaby.org/over50chat/2/4/4/_subject_#msg-4 http://boombaby.org/over50chat/2/4/4/_subject_#msg-4
Anyway, I know you've been working very hard. :)-D So, I'll say it again. This time for sure!]]> David Coffee Break Wed, 10 Mar 2010 09:54:33 -0600 http://boombaby.org/over50chat/2/3/3/_subject_#msg-3 http://boombaby.org/over50chat/2/3/3/_subject_#msg-3
Make sure you check the announcements once in awhile. Especially look at the rules. They are simple, but they are important.]]> BoardBoss Coffee Break Wed, 10 Mar 2010 08:03:10 -0600