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As we become adults, we are faced with important decisions throughout our life. We deal with them the best we can, but what about our parents? The decision on whether to put them in a home is a brutal one.

The statistics show something very clear. We are all living longer. Modern healthcare has advanced to the point where we can all live for years and years. Unfortunately, this has resulted in long term care issues that many families are in turmoil over. Continue Reading »

Reverse mortgages are being used by more and more seniors in an effort to get a loan that does not have to paid back until they move or die, giving them the funds they need to pay for their own long-term care, without relying on family or insurance. It is an incredibly popular practice for those over the age of 62, who own a home and don’t want to be a financial burden on their families. In fact, they are the most popular type of loan for Americans over the age of 62.

However, seniors who are in need of some loan cash sometimes fall into the traps of reverse mortgages scams through fake websites and reverse mortgage companies who charge too much. This is a horrible situation for a senior to be in, because they may lose thousands of dollars to the scam artists, turning them into a severe financial burden for them family.

Usually, the scam is perpetrated through telemarketing, with the senior being contacted by phone and convinced into giving up their personal information for the ‘loan’. The personal information is then used to steal the senior’s identity, often taking out a loan in their name, but making the senior foot the bill for the interest charges and monthly payments.

In the case where the senior thinks they are dealing with a legitimate company, they may be dealing with a phony reverse mortgage companies. These companies will charge six to ten percent of the entire loan amount just for the senior to get the name of a reverse mortgage lender. This is one of the most common types of scams. You can actually get information on who provides reverse mortgages, free of charge, from the Department of Housing and Urban Development.

As a result, if you are looking for a reverse mortgage, you need to be incredibly careful not to fall into the trap of a reverse mortgage scam. You should always make sure that before you sign anything, even if the agent is urging you to, you do your research into the company to find out if they are a) legitimate and b) financially stable.

It is also an excellent idea to sign the contract in the presence of a lawyer, advisor, or your children. This will help to avoid the tactics that have been laid by the reverse mortgage scam artist. However, if you simply want to avoid becoming a part of reverse mortgage scams, then you should simply not do your reverse mortgage dealings over the internet or phone.

Conclusion Reverse mortgage scams are one of the worst scams perpetrated by scam artists because it prays on the elderly and their desire to be financially secure after they have left the workforce. All reverse mortgage scams do is rob them of their money by forcing them to pay large sums up front, or by stealing personal information. To make sure you do not fall into a reverse mortgage scam, do your research and never, ever sign anything under pressure, or pay money up front without consulting an adviser first.

According to the National Survey on Drug Use and Health, 22.8 million Americans need help for drug or alcohol abuse. Of those people only a small percent completed rehab successfully. Students took the same survey and of those students, 2.3 million ages 12-17 reported they needed help for drugs or alcohol. Only 8.2% actually got help from a rehab center. Whatever your choice of addiction is, they have one thing in common, low self esteem.

According to Selfesteeminternational.org, recovering addicts and alcoholics indicate that low self esteem is the biggest problem in their lives. They feel alcohol is only a symptom to the alcoholic’s real disease, alcohol or drugs act as a mask. Low self esteem causes and contributes to anxiety, neurosis, defensiveness and ultimately

Selfesteeminternational.org surveyed some 18 year olds who reported using drugs or alcohol heavily. They reported using when they were as young as seven. They indicated feeling alienated by their families, not good enough, anxious, unhappy and overly impulsive. 66% of high school seniors surveyed reported using drugs or alcohol heavily in order to fit in and fill a personal void.

Drugs and alcohol are self destructive behaviors but sometimes the pain is too much to bare and people begin to self medicate through drugs and alcohol. Addicts use their addictions to help them work through to pain of self hate, or so they think. By drinking or using drugs a vicious cycle of more self hatred starts and before you know it, your life is completely out of control. One drink turns into two, two turns in to three and before you know it your life is all about drinking. You family doesn’t want you around, you have spent all your money and lost your job. Your actions only lead to more self hate and disappointment in yourself.

It is difficult to estimate how many people are experiencing low self esteem, but it is safe to say many people suffer from at least one of the symptoms. Maybe you are happy to see someone fail, overly aggressive, do not recognize your own good qualities, or try to please others because you do not know how to say no. There are many reasons why people have low self esteem however, it is not just one isolated incident that causes it. Typically low self esteem is brought on by many years of unpleasant memories and criticism. The criticism can come from anyone, a parent, teacher or society.

One of the most important factors in recovery is acceptance of the disease and being able to identify why you choose to be an addict in the first place. Often it is difficult to address years of low self esteem in a twelve week program. That is why follow up counseling and treatment is recommended. One new treatment that is being recommended is hypnosis. Hypnosis works with the subconscious mind to identify painful memories causing the low self esteem and help the patient work through the memory and develop new self confidence. Hypnosis is done in a safe environment and is chemical free which appeals to many recovering addicts.

Some people feel therapy and counseling is the best and only treatment needed to help recovering addicts. Unfortunately, if this were true all rehab facilities would offer a 100% cure rate. Most can not even offer a 70% cure rate. It is important to have a treatment plan that will help to identify why you started abusing drugs or alcohol in the first place, and this is difficult to do with a counselor. Often addicts have little trust in counselors and are more censored when talking until they get to know the counselor. Since hypnosis works with the subconscious mind, it allows the addict to think and speak openly about low self esteem issues.

Drug and alcohol abuse is a very serious problem, but what is more concerning is the underlying behavior of self hate. Until that issue is dealt with, the thought of alcohol and drug abuse is always there for the addict. There are many ways to help improve self esteem but why not do it in a safe environment and start dealing with the real problem today.

Many retirees are faced with the possibility of a long-term care event. How will I pay expenses if I cannot take care of myself? I do not want to put the burden of long-term care expenses on my family or children. The good news is that we are not alone, millions of seniors across America are facing the same dilemma and many are making plans now.

There are a lot of things we can do but it is coming down to two main options. The first is long-term care insurance and the other is a reverse mortgage. Some are combining both options. These options are important factors in planning for the time when we may need the money the most but will not be able to do much about it.

A reverse mortgage is a loan that is made to individuals 62 years and over in the United States, which is used to release home equity on a property in one large lump sum, or multiple payments. The homeowner is not obligated to repay the loan until they die, the home is sold or they leave into a nursing home.

For a typical mortgage, the owner of the house will pay a monthly payment to the lender, whereas in a reverse mortgage, the home owner makes no payments and all interest is added to the lien on the property. Now, it may seem odd that there are no payments on the reverse mortgage, but the way that the loan is paid off is that if the home owner moves, goes into a nursing home or dies, is from the proceeds in the sale of the house, or in the event the heirs refinance the estate of the homeowner. If the proceeds of the sale exceed the amount of the loan, the owner of the house gets the difference. In the case of the heirs, they would receive the difference. If the sale does not pay off the loan, then the bank will absorb the difference.

This option is becoming very popular with some seniors when they have to choose between reverse mortgages and long-term care insurance because they get a lot of the money upfront, which can then be applied to savings. The draw back is that it could severely effect the inheritance that you may want to leave behind. Long-term care insurance is an inexpensive way to insure that your family is taken care of.

Conclusion: For many seniors, the possibility of their children paying out of their own pocket to take care of them is simply too much to bear. As a result, seniors will look at the options of reverse mortgages and long-term care insurance to find a way that they can pay their own way through either a loan or a government program. In the case of reverse mortgages, they will be able to get a loan that they will not have to pay back until they die or move, and even then the loan is paid off on the sale of the home. This allows them to get the money up front to help pay for their own long-term care at home. It is of little surprise it has become such a popular trend for seniors looking for a way to pay their own way.

Before you go out and buy a policy go to Long Term Care Insurance Guide. We represent 20 of the top LTCi providers. This gives you tremendous options.

The future is uncertain and anything can happen. You may live a long and healthy life, only to die at the age of 102 while you are out on your daily jog, or you may suffer a stroke at the age of 62 and require long-term care to help you accomplish your daily activities. As a result, you need to start planning for long-term health care to ensure you do not suffer from an unexpected event that could leave you as a financial burden on your family. Continue Reading »