All posts by Barbara Nevins Taylor

Simplifying Mortgage Closings

Sign this. Sign that. Sign this one here.  A giant paper shuffle plays out around a table at every real estate closing and for anyone who buys a home the entire process is a confusing blur. You sign and pray that everything is right.

Now the Consumer Financial Protection Bureau would like to bring the closing process into the 21st century.  It’s examining ways to overhaul the practice and that can be tough because banking rules vary by state.

But the bureau takes a positive approach and plans to make suggestions for reform.  A starting point is its new report called Mortgage Closing Process Pain Points that highlights typical homebuyer frustrations and complaints.

COMPLAINTS

  • Most people say there’s not enough to time to look over closing documents. They often don’t see the paperwork until they arrive at the closing table and then they’re urged to rush through everything even though they don’t fully understand the terms, or what’s going on.
  • There’s too much paperwork at closings. Some forms are required to help clarify things and theoretically help homebuyers understand what they are doing. Other forms cover lenders’ legal requirements and yet others are required by the federal government or the states. But the volume of paperwork varies from lender to lender.
  • Few of the documents are clear. Homebuyers often have no idea what the terms and jargon mean and they get little help from the professionals in the room.  Sometimes there are even errors in paperwork.

CFPB Director Richard Cordray says, “Mortgage closings are often fraught with anxiety. We have taken action to address some of the problems consumers face, but more needs to be done.”

New rules from the CFPB that require clearer disclosure forms will go into effect in August 2015 . One form called the  Loan Estimate  provides a summary of the key loan terms and estimated loan and closing costs. The second, Closing Disclosure, gives a detailed accounting of the transaction.

But the most exciting possibility is promotion of an online closing system.  Some online closings take place now. But the CFPB plans to launch a pilot project to test whether universal adoption of online closings can clear things up and benefit homebuyers.

Cordray says, “Our eClosing pilot project will provide valuable insight into how to improve the closing experience for consumers. ”

So maybe in our lifetime there will be a significant change and the next time you close on a home, you’ll understand everything and feel as though you are in control.

 watchmoreMortgage Fees

 

 

 

 

Student Loan Co-Signer Nightmare

If you’re one of millions paying off your student loan, the burden can feel overwhelming. But it’s possible more will pile on to your load unless you’re careful.  You could get caught in the student loan co-signer nightmare.

If your grandparent or parent co-signed for your loan and dies, that may trigger an automatic default and the lender can ask you for immediate repayment.

 This is finally getting some attention, and it looks like there’s a remedy in the immediate future.

The Consumer Financial Protection Bureau tackled the issue of student loans. It estimates outstanding student debt for federal and private loans at $1.2 trillion for 2013 and consequently the bureau is working on constructive solutions.

Money  To try to help borrowers, it analyzed complaints about servicing problems and found the auto-default provision in loans is a big problem.  It studied the current practices and in a new report, the bureau asks lenders to review the default process. It also recommends changes lenders might make.     

THE WAY CO-SIGNING WORKS

Typically borrowers take out federal loans on their own. But  private lenders generally require a co-signer. Consquently, more than 90 percent of new private student loans are co-signed, often by a parent or grandparent.

Auto-defaults when a co-signer dies:

Many lenders demand repayment when a co-signer dies, often regardless of whether the borrower is up-to-date with payments.

And to make things worse, the auto-default is reported to credit bureaus with a negative impact on the borrower’s credit standing. 

Auto-defaults when a co-signer enters bankruptcy

If the co-signer files for bankruptcy,  even if the loan is in good standing, an auto-default kicks in for the borrower.

That causes crediting rating trouble and begins the cycle of calls from collection agencies.

 Obstacles to releasing co-signers from the loan

Borrowers can ask for release from the co-signer.

The CFPB says,  “Many lenders advertise that a co-signer may be released from a private student loan after a certain number of consecutive, timely payments and a credit check to determine if the borrower is eligible to repay the loan on their own. But most student loan servicers do not tell consumers when they are eligible to release their co-signer, so consumers need to ask directly for information on how to do this. “

 But the CFPB says the process for release is complicated, unclear and mysterious.  

SOLUTION

So the CFPB offers a solution to lenders to make the how-to process about separating from a co-signer crystal clear.

CFPB outlines steps that lenders could take to release borrowers from the co-payment problem.

In addition, it recommends that student loan borrowers contact their lenders and ask for release if they meet the requirements.  

For consumers, it created a sample letter to send to loan servicers asking for release from a co-signer, and another sample letter for a  co-signer to ask for release.

The bureau made it easy enough so that you can either send the full letter, or cut and paste to message the appropriate information when you  log on to the servicer’s site. 

 The sample letter on how a borrower can release a co-signer is at:  http://files.consumerfinance.gov/f/201404_cfpb_inquiry-letter_how-to-release-cosigner.doc

The sample letter on how to be released as a co-signer is at: http://files.consumerfinance.gov/f/201404_cfpb_inquiry-letter_how-to-be-released-as-cosigner.doc

 

 

Spring Cleaning and Product Claims

Despite the crazy weather in New York, the spring cleaning bug bit me and I began to root around in black bags that I filled with garden stuff and stored in the basement for the winter. There was an awful smell coming from one, and I had force myself to open it.

 And then, I wanted to kick myself. I discovered the plastic bag was filled with pesticides that we probably shouldn’t have bought or stored.

And that got me to thinking about what I should buy, product labeling, and the claims made by companies and marketers.

The Federal Trade Commission (FTC) is the watchdog for advertising claims and it requires that companies tell the truth.

So what do the claims mean?

FREE OF

If a label says a product is  “free of” a chemical or ingredient that poses a risk, it should be. There may, however, be a trace amount of it.  But there shouldn’t be anything else that poses the same kind of risk.

VOC-FREE

VOC stands for volatile organic compounds found in paint, household cleaning products, floor polishes, charcoal lighter fluid, windshield wiper fluid, and some hair styling products and other things as well.  They hit the air as gasses and can create ground level ozone that’s damaging to the lungs. Products that say “VOC-Free” or “low-level VOC,” should be.

VOCs in paint – If you are painting VOCs may be a concern.  Base paint may be low-VOC or VOC-free.  But the color that a store adds may not be. The tint can significantly boost the VOC level of paint and the amount varies from color to color. So if this is a concern, you might want to choose a color that’s low-VOC.

Ozone Friendly 

This is one of these terms that sounds clear, but isn’t.  We worry about two kinds of ozone layers. 

The ozone layer in the upper atmosphere blocks harmful rays from the sun.  Ground level ozone forms smog and can damage lungs and cause serious breathing problems.

So a company must be specific about its claims. If it’s “ozone-friendly” or “ozone safe,” the company must have proof that the product doesn’t harm the upper ozone layer or ground level air.

Less Waste

If all that extra packaging drives you wild, you may look for products that claim that its package is made with “less waste.” But don’t be fooled. The label should give you specifics about how much less waste it creates than the packaging for a previous version. It should say, for example, “10 percent less waste.”

Have something to say about product labeling?  Comment and let us know. 

 

8 Million Signed Up for Obamacare

President Obama claimed bragging rights to say 8 million signed up for the Affordable Care Act. This is a million people more than the administration said was needed to make Obamacare work.

The White House may not have gotten all the young people it wanted, but it got a pretty good percentage.

35 percent of those who signed up through state federally- facilitated marketplaces are under 35 years old. Another 28 percent are 18 to 34. It was important to get young, healthy people to join the program to offset the cost of health insurance for older people who tend to have more medical problems.

The President also pointed out that 3 million young adults gained coverage because the Affordable Care Act allows them to remain on their parents’ health insurance plans until they are 26.

In addition, 3 million people enrolled in Medicaid and the Childhood Health Insurance Program, or CHIP, as of February. You can enroll in these programs year-round although you won’t be able to enroll in Obamacare until the next open enrollment period.

NEXT OPEN ENROLLMENT PERIOD

The next open enrollment period for Obamacare begins November 15, 2014 and ends February 15, 2015.

If you sign up in November your health insurance can begin as early as January 1, 2015. But you must make your first month’s payment before the health insurance kicks in.

APPLYING OUTSIDE OF THE OPEN ENROLLMENT PERIOD

You can only apply outside of the open enrollment period under  these circumstances:

1. You’re getting married.

2. You’re adopting a child or a child is placed in your home.

3. You’re moving to a new area that offers different health plan choices.

4. You’re losing your healthcare coverage after a divorce, because you’ve lost your job, your COBRA is expiring, or you no longer qualify for Medicaid.

 

 

 

 

Robocaller Out

Every couple of months we report a crackdown on a robocalling operation, but no one ever seems to go to prison. I guess we should be grateful for small acts that put some  out of business.

The Federal Trade Commission (FTC) says a robocaller is out of the business for good, it hopes.  Joseph Turpel allegedly sold services to telemarketers and the FTC reached an agreement that puts him out of the robocall business and requires him to pay a $395,000 penalty. But it’s suspended because he can’t afford to pay it.

The FTC says that Turpel headed an operation that sold robocall services to companies. His group made it possible for telemarketers to make illegal robocalls, call phone numbers on the National Do Not Call Registry, and mask Caller ID information.

According to the FTC complaint, Turpel’s clients offered credit card services, home security systems, and grant procurement programs. He allegedly gave clients the means to hide their identity by transmitting inaccurate caller names, such as  “Service Message,” or “Service Announcement,” on caller ID displays.

The FTC first took action and brought Turpel and his company to federal court in the Central District of Calfornia in 2011. But it clearly takes a long time to get even a little bit of justice.

Do Not Call RegistryWhat you can do to keep a robocaller out. 

1. Ask your telephone company if it allows customers to block calls from multiple phone numbers. It may charge for this service.

2. You might also want to check out the call-blocking services offered by other companies, including Voice over Internet Providers.

3. Search online shopping sites for “call blockers.” There are a number of blockers from different companies and it’s a good idea to read the reviews and see if one works for you.

4.  Put a “special information tone” that signals a non-working number at the beginning of your voicemail or answering machine message.

5.  If you have a smartphone, look for call-blocking apps.
Use a “virtual phone line” with call screening options, forward that number to your actual phone, and only give out the virtual number. This option might work if you’re willing to change your phone number and are tech-savvy enough to set up call forwarding and screening.

 readmoreRobocall Alert

 

 

 

Refinancing Possible For Some Facing Foreclosure

If you’re a homeowner struggling to make your mortgage payments, rising real estate prices may help you avoid foreclosure.  It’s possible that you may be eligible to refinance because your home increased in value in recent months.

RealtyTrac’s  U.S. Home Equity & Underwater Report, for the first quarter of 2014,  shows that 9.1 million U.S. homes were seriously underwater. That means these homeowners owed at least 25 percent more than the value of their homes.

And the description fits about 17 percent of all homes with mortgages. It sounds bad. But the number is down from a high in  2012 when 29 percent of all homes with mortgages were underwater. And that brings us to the good news.

It turns out that many homeowners who thought they couldn’t hang on may now be eligible for refinancing, according to Daren Blomquist, vice president at RealtyTrac.

Blomquist says,  “The relatively high percentage of foreclosures with equity is surprising to many because it would seem homeowners with equity could easily avoid foreclosure by leveraging that equity by refinancing or with an equity sale of the home.  But many distressed homeowners with equity may not realize they have equity and in some cases have vacated the property already, assuming that foreclosure is inevitable.”

Some areas of the country are doing better than others. Prices have gone up in the California cities Los Angeles,  San Jose, and San Francisco, Poughkeepsie, New York, Honolulu, Hawaii. In those areas, fewer mortgage holders are underwater than elsewhere.

The real estate market remains depressed in Las Vegas, Nevada and Florida communities Lakeland, Palm Bay-Melbourne-Titusville, Cleveland and Akron, Ohio  and Detroit, Michigan. These areas have the largest percentage of homeowners with underwater mortgages.

 

watchmoreHow Do I Refinance My Mortgage? 

 

 

Agressive IRS Phone Scams

 

The “IRS” phone scams continue. That’s why the real IRS issued another strong warning to guard against what it calls sophisticated scams.

Immigrants One of the scams targets immigrants. Telephone callers say you owe tax money and demand payment via a credit card, debit or pre-paid card.  If there’s any hesitation, the caller threatens to  revoke a driver’s license,  deport or arrest the you.

Windfall Others may be told they are entitled to a big, windfall refund. But first they must put up money via a prepaid card. If one call doesn’t get immediate action, scammers often call again and continue to threaten and harass.  

THINGS TO KNOW TO AVOID THE SCAM  

1. Scammers use fake badge numbers and pretend to be IRS or government officials.

2. They may be able to recite the last 4 digits of your Social Security number. 3. The IRS does not call to threaten or demand money.

4. State tax departments don’t call to threaten or demand money.

5. You may hear noises in the background that make it seem as though it’s a call from an official center.

6. The IRS sends all requests by mail, not email.

7.  State tax departments send all request by mail, not email.

If you’ve been contacted by someone working this IRS scam let the Treasury Department’s IRS Inspector General know. You can file a complaint online. http://www.treasury.gov/tigta/contact_report_scam.shtml You should also contact the Federal Trade Commission (FTC) and file a complaint. Share with us and leave a comment. 

Why Boomers Plus Continue to Play Sports

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by Nick Taylor

Saturday morning.  It’s barely light, there’s snow in the air and slush in the New York City gutters, and I want to pull up the covers and go back to sleep.  But there’s one thing that will get me up on a day like this, push me past the stiffness of old joints and out into the cold.  That’s my tennis game.

The game started around the time I was born.  I’m only part of its latest iteration.  There are eight of us, all older players, and the game is central to our lives.  We love the camaraderie and competition.  We strive to harness and improve our physical skills even at the age when they deteriorate.  When we hit the court, the game begins anew, full of possibilities.  We’re as young as ever, and we play to win.  It’s exhilarating!

And it’s not just tennis.  It’s all games.  People my age, a little younger and even much older, are competing at a range of sports in unprecedented numbers.  Consider that there are 16.7 million baby boomers playing softball.  More older athletes play sports than ever before.  We’ve extended a cultural fitness revolution into new territory.

GolferFormer University of Florida golfer Bob Jewett, now a Level III-certified instructor in his late sixties, says, “We guys never grow up and we never lose the desire to compete, and most of us are happier than ever.

“Some of us practice a lot, others take a lot of lessons, others are always looking for new equipment, others are always trying to change their swings — we are just trying to improve.  It must sound silly at our age, but we really do want to improve.  And occasionally we do see a glimmer of hope.

“Like I always say, I feel sorry for any man who grows up.”

Granny BasketballThey feel the same way at Iowa Granny Basketball, a woman’s league that has branched out into three other states.  “We laugh, we fall down, we giggle, we get up,” one team organizer said.  “We’ve got to keep moving so we won’t stiffen up when we get old.”

The explosion of older athletes playing team sports from ice hockey to basketball, as well as runners, skiers, and bicyclers, dates to over forty years ago when Americans started to get fit.  Ken Cooper published Aerobics and invented a noun.  Runners, once confined to track meets, began appearing everywhere. Phil Knight founded Nike and buried canvas sneakers in an avalanche of athletic shoes for every sport.  Jane Fonda put exercise to video and music and told us to “feel the burn.”  Private gyms sprouted up and “cardio” joined “aerobics” in the dictionary.  Health and fitness became a goal, and then a way of life.

We’ve worked at fitness for decades.  It’s been part of our lives and we’re not giving it up now.  We’ve turned to sports – or returned to sports we used to play – because they make fitness fun in a way that visits to the gym can’t do all by themselves.

Granny Basketball is only one example of the leagues and teams and associations that populate this growing trend.  The Gerihatricks are ice hockey players in their 60s and 70s who play outside of Washington, D.C., and other seniors strap on their skates in similar leagues across the country.  The Colonie Senior Basketball League near Albany, N.Y. has fourteen teams of players over 50, with divisions for players into their 70s.  Similar leagues exist from coast to coast.  Senior Softball USA includes 30,000 players who compete in tournaments nationwide; they’re a small portion of the millions of boomers who play slow-pitch softball in church and recreational leagues, according to the Sports & Fitness Industry Association. 

Cycling in the RockiesThe Vail 50, an over-50s club of skiers, bicyclers and hikers in Colorado’s Vail Valley, is 900 members and growing; they take skiing master classes to tackle black diamond slopes and pedal 100 miles a day on mile-high roads.  Older tennis players, golfers and runners and bicyclists, organized and freelance, also number in the millions.

These developments have changed the stereotypes of old age.  As Senior Softball USA puts it, “Today grandpa is at shortstop, grandma is pitching, and they won’t be home until the game – and the tailgate party with their teammates – is over.”

As Senior Softball USA makes clear, players rely on their teams and sports for more than recreation.  Games reveal character.  And demand it.  Every older player has been injured, some more seriously than others.  Every one has played through pain, fought through rehabilitation, had gaps in their games revealed and exploited.  They understand that their games say who they are and because of it, they’re tempered by them.  Even late in life, games still have much to teach us about who we are, and that knowledge leads to deeper friendships.

Optometrist Kenny Mendelsohn, 61, has played in a basketball game on Long Island for thirty-five years.  The players are in their fifties and sixties.  He told me, “Our group has weathered many personal storms including deaths and illnesses.  The strength and comfort that we get from playing ball together has been key to resilience.”  One player lost his son in a traffic accident, but was back on the court a week later.  “We were surprised,” said Mendelsohn.  “But he said it was the only way he could get his mind off what had happened.”

Another of Mendelsohn’s teammates, an active 70-year-old who also joined the game at its beginning, said, “Playing ball has enriched my life and it keeps me young.”  He also bikes, swims, and plays golf.  He’s not long on stretching or preparing beforehand, but said if it came down to it he would do whatever he had to do to keep playing.  Indeed, he started twice-a-week personal training sessions a year ago.

I recognize that impulse.  I signed up with a personal trainer at about the same time.  When he asked me what my goals were, I said, “I want to keep playing tennis well within my age group and maybe get a little better.  And I want to keep from getting hurt.”  The process has been a revelation.  My gym sessions went from general to specific.  They’ve improved my tennis fitness and my game.

We older athletes are the latest, and perhaps last, phenomenon of the baby boom generation. From Woodstock to Viagra, our numbers have always set trends and attracted marketers.  Now, according to the International Health and Racquet Sportsclub Association, fitness club members over 55 number over 11 million, up five-fold from 1990, a much faster rate of increase than other age groups.  The trend has in turn produced a new class of fitness instructors such as 59-year-old Roseann Brown, who teaches the Active Older Adults Power Class at the McBurney Y in New York City and was recently featured in The New York Times.

Seeking physical improvement and sports perfection late in life is second nature to a generation and those on either side of it that have grown used to pursuing what they want and getting it.  This dedication to staying young is not new, witness Dylan Thomas’s “Do not go gentle into that good night.”  But its numbers are new.

There are 76 million baby boomers in the U.S.  Wojtek Jan Chodzko-Zajko, who studies aging and physical activity at the University of Illinois at Urbana-Champagne, says they comprise “a cohort of people who have the expectation of remaining active.”  And, he says, “Most will want to do it in a competitive sport.”

As we continue to play the games and pursue the sports we’ve always loved, and add new ones, too, performing well is harder than it used to be while getting hurt is easier.  That’s why it’s important to stretch, roll out those knotted muscles, and generally pay attention to your fitness before you go out to play.  It’s time well spent, and a whole lot better than sitting on the sidelines rehabbing an injury.

 

readmoreBoomers Stretch and Roll to Keep the Competitive Edge

 

watchmoreFiguringOut Medicare Choices

 

readmoreMedicare Basics for Boomers and Everyone Else

 

Ryan Budgets Chisels Medicare

Even if you’re not political, there’s plenty of reason to pay attention to what’s happening on Capitol Hill, particularly if you are interested in Medicare and federally subsidized student loans.

Under the leadership of Representative Paul Ryan (R –  Wisconsin), chairman of the House Budget Committtee, the House of Representatives passed a budget that would change Medicare completely.

Under the Ryan plan, Medicare would become a “premium support” system. People 65 and older could buy health insurance and receive federal subsidies instead of the current system that most people paid into during their working lives.

Ryan described his effort as “. . . a plan to save Medicare now and for future generations.”

The Ryan budget also repeals Obamacare, cuts the deficit by $5.1 trillion in ten years and would theoretically balance the federal budget by 2024. This passed the house 219 to 205. Twelve Republicans voted against it and so did every Democrat.

The likelihood of this becoming law is almost non-existent. But it’s like a rifle shot across your backyard.  Persistent efforts to change public policy sometimes gain traction over time, and that’s why it’s important for Baby Boomers and others to find out where our Congresspeople stand on issues like Medicare and student loans.

PROPOSED STUDENT LOAN CUTS

The Ryan budget also cuts federal subsidies for student loans called Pell Grants. It would freeze the maximum grant at $5,730 for ten years and would cut a mandatory funding line. Instead, Congress would decide each year whether to fund and how much to allocate.

Cuts would also be tough on students who work. It would eliminate grants for students who attend college less than half time.

This budget also would eliminate interest rate subsidies for undergraduate student loans.

All in all, this isn’t a pretty picture.  But it may be a wakeup call for some of us to pay more attention to the Capitol Hill follies.  If we don’t, the consequences may be personally painful.

HERE’S RYAN ON THE HOUSE FLOOR.

IRS Alert 503 Scam and More

 

The IRS continues to warn about scammers trying to take advantage of our race to the April 15th income tax filing deadline. It’s not clear how many individuals or groups are working to take advantage during this time. But those that are out there are effective.  

More than 20,000 people say they’ve been contacted by people posing as government officials or IRS agents. Not all were victimized, but those who were lost over $1 million collectively.  J. Russell GeorgeTreasury Inspector General for Tax Administration J. Russell George says, “The increasing number of people receiving these unsolicited calls from individuals who fraudulently claim to represent the IRS is alarming.  At all times, and particularly during the tax filing season, we want to make sure that innocent taxpayers are alert to this scam so they are not harmed by these criminals. “ 503 Area Code  Many calls come from the 503 area code in California. Others use “spoofing’ techniques to mask their identity and they are good at it. So the numbers that come up on caller ID are the real phone numbers of the IRS or your state’s tax department. Scammers also use fake names and IRS badge numbers, and may be able to recite the last four digits of your Social Security number. CONTINUE →    or go to Page 1 2

Listen to an IRS phone scam call here 

Debt Settlement Scam To Refund Millions

Millions in refunds will go to victims of a debt settlement scheme, but it’s not as much money as there might be. The accused scammers don’t have the money to pay the full judgment against them.

settlement with the Federal Trade Commission requires Jason R. Begley and Wayne W. Lunsford of  Rincon Debt Management to give up $3.3 million in assets. The money that’s recovered will then go to consumers who were victimized

The FTC says Begley, Lunsford and employees of their California-based operation harassed consumers by calling them repeatedly,  and calling their employers, family, friends, and neighbors. They posed as process servers and lawyers. They also threatened arrest if consumers didn’t respond to calls, and demanded payment for legal costs even though no lawsuits were filed and in many cases consumers didn’t owe anything.

Jessica Rich, director of the FTC’s Bureau of Consumer Protection, said, “These debt collectors focused on Spanish-speaking consumers and other people who were strapped for cash, and preyed on them by using abusive collection tactics.”

A court order bars Begley and Lunsford from the debt collection business and imposes a $23 million judgment against them. But it was suspended because they can’t pay it.

Instead they’ll have to forfeit $3 million in frozen funds. Begley is required to surrender the rights to more than 3,500 American Eagle silver and gold coins. He will also pay a $176,115 contempt judgment for having sold his home and some other coins in violation of the court order asset freeze. Lunsford is required to pay a $134,000 contempt judgment for the proceeds he received when he sold his home in violation of the  freeze.

watchmoreYou might also like – Avoid Debt Settlement and Credit Repair

 

 

Threat to Medicare

Whatever your politics, whether you are Republican or Democrat it doesn’t matter.  If Medicare is important to you, or might be, this is a good time to pay attention to what’s going on in Washington.

There’s an effort to dilute Medicare and create a voucher system for healthcare for older Americans that would destroy Medicare.

Medicare Rights Center President Joe Baker sent out this press release and we think it’s important enough to publish.

by Joe Baker

“The budget released today by Congressman (Paul) Ryan repeats on an old and tired theme—ending the Medicare program as we know it. The Ryan budget would replace Medicare’s guaranteed health benefits with a voucher (or premium support) that seniors and people with disabilities would use to purchase health coverage through private health care plans.

The Ryan budget’s privatization scheme would grind away at traditional Medicare, funneling younger and healthier retirees into private health plans and leaving older, sick beneficiaries in the traditional Medicare program. Providing coverage for this vulnerable population will make traditional Medicare more expensive and less able to compete. In short, the Ryan budget preserves Medicare as we know it, only to allow it to wither on the vine.

At the same time, the Ryan plan forces seniors and people with disabilities to pay more for less. The Ryan budget would raise the Medicare age of eligibility and force middle class beneficiaries to pay higher premiums.

Congress must reject this plan and instead look to responsible options, like obtaining lower prices for pharmaceutical drugs and advancing the delivery system reforms made possible by health care reform, to secure Medicare’s future for years to come. In many ways, the Medicare program is stronger than ever. Adoption of the Ryan budget would only serve to dismantle that success.”

 

watchmoreYou might also like Figuring Out Medicare Choices

Renting a Car in Mexico



Like a lot of other travelers, we always declined the rental car insurance and expected our credit card insurance to cover it. But as we planned a recent trip to Mexico, we discovered it’s not always so. 

Before we left, a friend warned us that rental car companies in Mexico would push us to buy their insurance for almost $40 a day. You could say no and rely on your credit card’s insurance coverage, but if you did they’d swipe your credit card for $3,500 to cover loss.

That’s fine if you return the car undamaged. They’ll tear up your credit card slip and that’s the end of it. But as a clerk at Hertz in Cancun explained, it’s not that cars are stolen, but this is a vacation place and people get a little carried away. So cars get a lot of dings and dents and you’re responsible up to the limits of the credit card coverage’s deductible.

We decided it was best to take the rental car insurance in Mexico just to be on the safe side.

Beyond Mexico

Even beyond Mexico you can’t always rely upon credit card insurance.
1. Credit card insurance is usually supplemental to other insurance. Like your personal car insurance, renter’s or homeowner’s insurance.
2. Credit card insurance doesn’t cover an open-ended rental. There are limits like two weeks or a month.
3. Some premium cars, antiques, trucks and vans are often not covered.
4. The deductible is high, usually about $500.
5. Business travel isn’t always covered by credit card insurance.
6. Credit card insurance does not cover cars at all in some countries.

So for peace of mind, it may be worth it to purchase the company’s liability insurance in some cases, especially if it is a vacation area where there are a lot of tourists driving and not necessarily paying attention.

WATCH THE VIDEO:

Hawaii for a Multi-Generational Vacation

by Gerry Chambers

It dawned on me that for the first time in many years, all our spring breaks coincided, from Durango, Colorado to Columbia, SC, Augusta, Georgia, and the mountains of Western North Carolina.  The week of April 6 in 2013 beckoned for a rare and extended family vacation, bringing together the whole bunch — grandparents in their late 60s, adult children in their early and mid-40s, and grandchildren ages 5, 6, 9, 16 and 18.

But first we had to decide where to go. The venue had to appeal to everyone.  When I mentioned the tropics (thinking Caribbean), my older son Jason said, “Let’s do something really big.”  “Like Hawaii?” I asked.  “Bingo!” was the immediate answer.

Research

Now it was time to research and I headed to Barnes & Noble for a guide. I generally like Fodors and they didn’t let me down this time.  After our travels in Malaysia and Indonesia, Hawaii had always seemed somewhat tame, but I soon realized our island state was just right for a something-for-everyone family vacation.

“Must have a house,” I thought. I began to investigate sites such as HomeAway and  Vacation Rentals By Owner (VRBO).  A relative who had lived in Hawaii insisted that we get close to Lanikai Beach, one of the world’s most beautiful, in the Kailua section of Oahu.  After a week of reading, Googling and emailing, I settled on a 4-bedroom house with pool, lanai, deck, and luxurious landscaping—only two blocks from the beach.

The rental cost

The house was affordable with a rental cost of $5800 that included departure cleaning.  We paid more than that for a week in a comparable oceanfront house on the Atlantic for previous family vacations.

In Hawaii

Adelyne in the PoolWhen we arrived, everyone thought it was a dream house.  The size, amenities, and location suited us perfectly.  We made the most of the full days that we had on the ground in Hawaii.

  • a hike to the Makapu’u Lighthouse, high on a cliff overlooking the Pacific, where we saw whales cavorting
  • canoeing to a nearby island in a six-man outrigger at amazing speed
  • another hike, to Manoa Falls, with happy children mudsliding all the way down the path
  • tours of the Arizona Memorial, a sobering experience for everyone, and of the Bowfin, the Pearl Harbor Avenger attack submarine launched on December 7, 1942, one year after the infamous attack
  • a drive to the North Shore, the beaches frequented by world-class surfers, to enjoy views of the magnificent waves and outrageous surfing acrobatics, with stops for obligatory “ices” (we’d call ‘em sno-cones) at Matsumoto’s Grocery and close-up views of the green sea turtles, the basking honu, at Laniakea Beach
  • snorkeling at world-famous Hanauma Bay and surfing lessons on Waikiki
  • the gorgeous Waikiki Aquarium and the incredibly lush Foster Botanical Garden, dating from 1853

Chambers kidsOn our last night, the whole gang enjoyed a luau at the Hale Koa Hotel.  Both male and female dancers performed traditional Polynesian dances, including the breathtaking fire dance and the graceful, sinuous hula.  Lovely maidens crafted flower bracelets for the little girls, and handsome warriors created reed headbands for everyone; a muscular demonstration of how to climb a coconut tree provided yet another highlight of the evening.

And the food was excellent—pig roasted underground, grilled fish, beef and chicken, rice, purple Hawaiian sweet potatoes, the tastiest pineapple ever, and of course the poi, which looked like refried beans pureed to a high degree.  Everyone tried it and pronounced it “interesting but tasteless.”

With the exception of surfing lessons and the Arizona Memorial, not considered appropriate for the two youngest, all ages were able to participate in these excursions.  Would we do it again?  When I posed the question to the group, they gave me a jaundiced look, amazed that I’d even ask the question.  Everyone ranked Hawaii the best family vacation so far.

 

 

 

 

 

 

 

 

 

 

 

 

 

Best Face Creams For 55-Plus

We’re on a quest to find the best face creams for women and men over 55-years-old. What have you discovered that helps moisturize, protect, reduce wrinkles and make your skin look better?

I found a great inexpensive facial moisturizer that’s available online. I’ve used the cream for about six months and find it as effective as the most expensive creams. 

We want news of moisturizers, serums, lotions, masks, wrinkle reducers and whatever you love best.  Share with us so that we can share with the growing number of Baby Boomers who are looking for skin protection and anti-aging recommendations. Products have evolved in recent years and so have skin treatments. Many claim to be scientifically tested and I guess there are a variety of definitions of what scientifically tested means. But most honest dermatologists will tell you the gold standard is still trentinoin. It’s a vitamin A derivative and was clinically tested and has been proven to reduce fine lines. It’s the active ingredient in prescription creams and gels sold as Retina-A,  Renova, Retin-A-Micro, Avita and other FDA approved products. Retinol, a weaker version, is an ingredient in many over-the-counter cosmetics and other products. The FDA says trentinoin increases skin cell turnover.  And that’s why you’re likely to have flakey skin before you see the fine lines and dark marks fade away. WHAT WORKS FOR YOU? But we’re interested in what works for you.  It seems as though there are thousands of anti-aging products sold online and in stores and I find it incredibly confusing. In fact, the anti-aging industry generated $122.3 billion in 2013, globally, and is expected to reach $191.7 billion in 2019 according to Transparency Research.  Other researchers put the number at over $260 billion. Whatever the number, it’s big. We’ve bought into trying to make ourselves look as good as possible for as long as possible. The buzzwords also make you feel as though you need a science textbook to decide what to buy.  Peptides, anti-oxidants, cosmeceuticals, you can add your own favorites to our list. We’ll post them. I recently tried a sample of a face cream that costs $500. It seems to make my skin look better, but $500 is an awful lot of money.  I’m investigating whether it’s worth it. Comment and let us know what you’re doing. Share your photo and a product.   

readmoreYou may also want to read: Gift for Aging Skin    

Fraud Protection Scam Cracked

Did you ever wonder who is behind the telemarketing calls you get? Think north of the U.S. border. Think Canadians in many cases.

This isn’t a secret, and it’s been going on for awhile. I interviewed a Canadian scammer years ago and listened as he bragged about how he used his cell phone to prey on older people in the U.S. He told me he often worked with other colleagues operating out of boiler rooms and they were all so good that it was difficult for law enforcement officials to trace them.

Now the Federal Trade Commission (FTC) says the commission, the U.S. Postal Inspection Service and the Royal Canadian Mounted Police have cracked a multimillion dollar fraud protection scam headquartered in Canada.  And that’s a big deal.

At the FTC’s request, a federal district judge in Pennsylvania issued a preliminary injunction against a network of companies linked to a Canadian boiler room.

The scheme started with those annoying phone calls. Canadian telemarketers cold-called tens of thousands of older people and claimed to offer fraud protection, legal protection, and pharmaceutical benefit services. The cost for the alleged services ranged between $187 and $397.

In some instances, they falsely claimed to be government officials or bank officials and convinced people to disclose  confidential bank account information. They frequently took more money than people authorized for nonexistent or worthless services.  And they made a lot of money.

The FTC says the scammers took in $20 million dollars between May 2011 and December 2013.  The federal complaint says Canadian Ari Tietolman, the alleged leader of the telemarketing scheme, and his associates processed the money through a network of U.S. and Canadian companies.

After the Canadians made the calls and got the information, checks were drawn remotely from consumers’ accounts. Then the money was deposited in accounts in the U.S. and ultimately transferred to accounts controlled by the Canadians. 

The FTC says American players in the alleged scheme  are  Marc Ferry, Charles Borie, and Robert Barczaia.

Jessica Rich, director of the Federal Trade Commission’s Bureau of Consumer Protection, said, “The defendants’ conduct in this case was simply outrageous.”

First Consumers LLC, Standard American Marketing, Inc., PowerPlay Industries LLC, Patient Assistance Plus, Legal Eye, and Fraud Watch are the companies involved, according to the FTC.