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Money

Cuts to reverse mortgage counseling pose risk to seniors

Cuts to reverse mortgage counseling pose risk to seniors
BY CAROL ABAYA
NEWJERSEYNEWSROOM.COM
THE SANDWICH GENERATION

In the new federal budget, $9 million was cut for reverse mortgage counseling, leaving senior borrowers at risk of being needlessly pressured by mortgage brokers to take out a mortgage that is inappropriate.

These funds from the federal government will be cut off October 1, 2011.

A reverse mortgage (RM) allows homeowners 62+ to convert equity in their home to a cash advance in a lump sum or to receive monthly payments. The loan does not have to be repaid until the borrower or borrowers, including a husband and wife, move out or die.

 

Finally, some good news: New Jersey foreclosures hit speed bumps

Finally, some good news: New Jersey foreclosures hit speed bumps
BY GERALD J. ROBINSON
NEWJERSEYNEWSROOM.COM

In states like New Jersey where foreclosures are handled through the courts, the foreclosure pipeline is clogged.

The New Jersey foreclosure pace is glacial. I...

N.J. financial advisors John and Kathleen Mullins of Margate penalized for ripping off elderly client

N.J. financial advisors John and Kathleen Mullins of Margate penalized for ripping off elderly client

Misused $393,134 meant for perfroming arts

The New Jersey state Bureau of Securities announced on Monday that it has finalized administrative actions against two financial advisors who, in 2008, were d...

A case against index funds

A case against index funds
BY WARREN BOROSON
NEWJERSEYNEWSROOM.COM
BOROSON ON MONEY

Some stocks recommended by Howard Hansen, CFA, who’s with Linde, Hansen & Co. in Florham Park:

Host Hotels and Resorts. Because, among other re...

Managing your elder's assets

Managing your elder's assets
BY CAROL ABAYA
NEWJERSEYNEWSROOM
THE SANDWICH GENERATION

Question: "My financial planner says I (72) should put all my assets into a trust to avoid probate and to reduce cost after I die. Is such a Trust...

Fresh Market specialty grocer arrives in New Jersey

Fresh Market specialty grocer arrives in New Jersey
BY ALICIA CRUZ
NEWJERSEYNEWSROOM.COM

North Carolina based supermarket chain, Fresh Market, has arrived in New Jersey. The specialty grocer, which operates about 100 stores in 20 states, opened the doors...

N.J. unemployment on the rise

N.J. unemployment on the rise

419,600 are jobless in the state; rate increases to 9.4 percent

BY TOM HESTER SR.
NEWJERSEYNEWSROOM.COM

New Jersey, overall, lost 700 jobs in May and the unemployment rate ticked higher by at least 0.1 p...

Wealth insight: A mutual fund primer

Wealth insight: A mutual fund primer
BY JEREMY WELTHER

Some investors are still skittish about investing in mutual funds after the sharp declines in 2008-09. However, many funds have shown strong performance since the market began its reb...

Is it better to rent in New Jersey than to buy?

Is it better to rent in New Jersey than to buy?
BY GERALD J. ROBINSON
NEWJERSEYNEWSROOM.COM

For sure, if home prices are headed down.

And downward seems to be the current direction in both New Jersey and nationally.

According to the Case-Shiller Home P...

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