Social Security will increase in 2009

Today I was reading that Social Security benefits will increase 5.8% effective this January. This is the largest increase for benefits in 27 years. Over 55 million seniors will see an average increase of $63 dollars a month. Not a huge amount, but I am sure every little bit will help. This is tough times for seniors. Retirees with fixed incomes have seen a 51% drop in buying power since 2000 with the near doubling in prices for home heating oil and gasoline, and more than double the cost of such staple foods as eggs and potatoes. This month AARP is reporting that nearly 60% of its members are having a hard time paying for basic groceries and medicine.

With these and many other issues seniors are facing financially, it doesn’t surprise me that more Reverse Mortgages are being written every year. This financing is becoming a common solution to free up income and create a more comfortable lifestyle for seniors.

Let me list 6 Great Benefits to a Reverse Mortgage that help you enjoy a more comfortable retirement in your own home:

• Independence - You continue to own and live in your own home


• Liquidity - Receive monthly payments instead of making them


• Simplicity - No income, credit or employment requirements needed to qualify


• Choice - You may receive funds as a lump sum, in monthly instalments, as a line of credit, or as an up-front sum plus monthly allotments


• Security - Does not affect Social Security, pension or Medicare benefits


• Ownership - Your heirs can keep the property once the Reverse Mortgage is paid in full

Every month I am seeing more interest in this this safe and insured program. Please contact me today to receive a brochure or DVD that will explain in great detail and help you to understand the benifits of a Reverse Mortgage.

-Bryan Husen

Don’t give into fear!

In his 1933 inaugural address, Franklin Roosevelt said, “…The only thing we have to fear is fear itself…which paralyzes needed efforts to convert retreat into advance.” He was speaking at the depth of the Great Depression, a period that some are comparing to current economic circumstances. While Roosevelt’s words remain true today, there are few similarities between current financial circumstances and the economic turmoil of the Great Depression. In 1934, unemployment was 25% compared to 6% today, and 40% of mortgages were seriously delinquent as opposed to 4% today.

Lessons from the past
Regardless of the differences, lessons learned during the Great Depression are informing current government actions. Many experts believe that the Great Depression was caused by poor policy-making on the part of the American Federal Reserve, which did not create needed liquidity in the markets. As a result, credit tightened and banks failed. Today, the Federal Reserve and the United States Treasury are taking extraordinary measures to extend credit and maintain liquidity in the markets – including asking for the authority to own up to $700 billion in mortgage-related assets.

Reasons for optimism
Thus far, Fed and the Treasury actions have bolstered investor confidence, improved liquidity, and earned a significant response in credit and equity markets. Although we should not expect rapid economic growth anytime soon, its important to keep another statement from Roosevelt’s speech in mind: This great Nation will endure as it has endured, will revive and will prosper.

Questions regarding Reverse Mortgages or any other related topics, please contact me today.