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CONTENTS:
A. HAVING TROUBLE PAYING A MORTGAGE?
B. QUALIFIED MILITARY RETIREES TO STOP PAYING SBP
C. DO YOU "BLOG"?
D. DID YOU KNOW...?
E. THOUGHTS FOR THE MONTH
F. FREE THINGS
G. SPECIAL SURFING SITES
H. OH MY AGING FUNNY BONE
The new survey http://www.seniorresource.com/survey.htm
is ready for your input!
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A. HAVING TROUBLE PAYING A MORTGAGE?
"Houston - We have a problem."
Those famous words from space could have been used in Washington, D.C.,
lately. Only on earth, it applies in regards to American homeowners who
bought their home with an adjustable rate mortgage, or who purchased by
using a "stated income" loan.
What's a stated income loan? That's where YOU state your income and the
bank doesn't bother to check on it... Mmm-hmm. You guessed it! That led
to our current trouble.
It wasn't all avarice and greed. Not at all. These loans were used to
help hard-working people buy a home. Everyone has a right to want and
to achieve the American dream, after all. And the majority of these folks
are working and paying their mortgage just fine, thank you. But these
stated income loans were also used by mortgage companies to help speculators
buy a second property to "flip" in hopes of making big profits in the
(until recently) booming real estate market. They were also "sold" to
homeowners with the notion of a remodel or expansion of the home. Perhaps
an education was paid for out of the equity in the home. The problem is
that these loans often have very high penalties for refinancing and have
high up-front costs that the borrowers-normal working Americans- didn't
always catch. Caveat emptor? Buyer beware? Certainly it applies. However,
do we also not place some of the onus on the aggressive sales techniques
of the mortgage broker who slid in those conditions and fees in the fine
print at the bottom of the page? "
The federal government has decided that the situation is in danger of
ballooning out of control and has moved to stem the financial hemorrhaging-and
potential recession that could result if action is not taken. President
Bush has offered an outline of a program that would save affected homeowners
who have lost their property from additional tax burdens-but they still
lose their home. Congress is developing an alternative or complimentary
program; however there are no details available on that yet. Federal reserve
chairman Ben Bernanke will probably be forced to lower interest rates
to keep the foreclosures from becoming a drag on the larger economy and
thus triggering recession. Under his direction, the Federal Reserve has
already pumped billions into our financial system to keep operations running
smoothly amid these defaults and mortgage firm failures. And in August,
for the first time in four years, there was a decrease in the employment
figures.
What to do? If you know someone who is having trouble paying their mortgage
they need to take action, rather than wait in fear. This action can be
to take on a second job, if one is available, or it may require the services
of a credit counselor. They should study the proposals now coming to light
from the federal government. Some states may also be taking action to
help their residents, so it is well worth checking that avenue.
Here are some links to peruse, and we'll keep you posted!
http://www.hud.gov/offices/hsg/sfh/insured.cfm
http://www.pueblo.gsa.gov/cic_text/housing/home-insure/mortgage.htm
Additional financial information for seniors can be found at:
http://www.seniorresource.com/finance.htm
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B. QUALIFIED MILITARY
RETIREES TO STOP PAYING SBP
The Uniformed Services Contingency Option Act (USCOA) of 1953 was the
first law to permit military members to receive reduced retired pay during
their lifetime in return for ensuring that their widows and eligible children
would receive an annuity after the members' death. Public Law 87-381 of
1961 replaced the provisions of the USCOA with the Retired Serviceman's
Family Protection Plan (RSFPP).
On September 21, 1972, Congress passed Public Law 92-425. This law terminated
the RSFPP and created the Survivor Benefit Plan (SBP). Existing participants
in the RSFPP were permitted to retain their RSFPP coverage, elect to participate
in the SBP, or convert their coverage to the SBP. Under SBP, each member
entitled to retired or retainer pay with eligible dependents is entitled
to participate in the program. Public Law 95-397 extended coverage under
the SBP to members of Reserve Components who would be eligible for Reserve
(Non-Regular Service) retired pay except for being under 60 years of age.
Under the RSFPP and SBP programs, retired members are required to pay
monthly premiums in the form of a deduction from their retired pay. In
general, these premiums will be deducted throughout a member's lifetime
unless the retiree terminates or withdraws from annuity coverage, or,
in the case of SBP coverage, during any period in which the member does
not have an eligible beneficiary.
Section 641 of the National Defense Authorization Act for Fiscal Year
1999, Public Law 105-261, amended the SBP with regard to the deduction
of SBP monthly premiums.
Effective October 1, 2008, no reduction in the retired pay of a participant
in the SBP will be made for any month after the later of (1) the 360th
month of paid premiums; and (2) the month during which the participant
attains 70 years of age. Section 641 also includes participants who are
paying premiums under the Reserve Component SBP (RCSBP). Section 655 of
the National Defense Authorization Act for Fiscal Year 2000, Public Law
106-65, extended the paid-up provision to RSFPP participants. The RSFPP
provision also becomes effective on October 1, 2008.
These changes allow qualified retirees to stop paying SBP and/or RSFPP
premiums while maintaining their current annuity coverage. The change
is commonly referred to as "paid-up SBP." Beginning October 1, 2008, a
member who is at least 70 years of age and has made a minimum of 360 months
of premium payments is eligible to have the monthly premiums stopped.
No action is required by the member to initiate the termination of premiums.
DFAS will notify members of their paid-up status and when premiums will
be stopped.
The DFAS notice will be mailed beginning in May 2008 to members who have
met or will soon meet the entitlement criteria. All retirees will be notified
of their paid-up premium status on their December 2008 annual Retiree
Account Statements (RAS). This information will be updated with each RAS
issued after December 2008 to help retirees monitor their eligibility
status.
Additional insurance information for seniors can be found at:
http://www.seniorresource.com/insur.htm
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C. DO YOU "BLOG"?
Many seniors shake their head when they feel nobody is interested in
listening to them. After all, a lifetime of work, family, learning, successes
and challenges is no small thing to be simply forgotten or tossed aside.
THAT is not a recipe for uplifting mental health, is it?
But the grandkids have Ipods, the kids have careers, and Sunday afternoon
visits tend to be taken up with topics of immediate import due to the
limited time we all have in the 21st century. So what to do with all of
that knowledge, experience, and wisdom? Part of the human condition is
we need to be social. We need give and take. And we need to feel valuable
to society around us. It is natural to feel like this and it shouldn't
stop when we become senior citizens!
The answer? Put it "online" where it will live forever, of course! Web-logging
is the online diary practice that is referred to as "blogging" on the
Internet (where everything has a nickname). These blogs are written by
people from across the spectrum of age and socio-economic status. Astronauts,
physicians, homemakers, farmers, butchers... people across all aspects
of society have something to say, and none are more experienced in life
than senior citizens.
What would you talk about? Well, what is important
to you? It can be your personal expertise in, for instance, growing a
vegetable garden; or your professional expertise, such as a pilot who
can comment on the flying characteristics of a favorite aircraft. Some
folks blog about their pets, their grandchildren, their trips, and so
forth. Others blog on political or social opinion. Some people just share
their inner thoughts born of a lifetime's worth of reflections on daily
life. Some bloggers are retired professionals adding their valuable expertise
on topics, problems, and solutions across a wide variety of subjects,
and some are just blowing off steam! Regardless, it is a fast-growing
trend, and a lot of fun for many seniors. Bloggers often get "hooked"
when they get replies from around the globe, find themselves becoming
more engaged in current events and life in general, and enjoy the voice
they have that has been so long brushed aside by a youth-obsessed world.
There truly ARE people interested in listening to what senior citizens
have to say!
How do you get started? Go online. Begin your search for blogging sites
at Google or Yahoo and start reading the entries. The parent sites that
host these forums typically have a large number of bloggers discussing
a wide variety of topics, from health to politics, to dog breeds, to party
planning. You name it—you'll find a blogger discussing it and waiting
for your input. Try these for starters:
http://www.blogger.com/start
http://topsites.blogflux.com
http://www.blogcatalog.com
http://jenett.org/ageless/
Additional aging related information for seniors can be found at:
http://www.seniorresource.com/ageproc.htm
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D. DID YOU KNOW...?
Energy Savings Techniques This Winter
- Find out about financial energy assistance programs: Many states,
counties and cities provide programs that assist older adults with winter
heating costs. To identify your Area Agency on Aging, contact the Eldercare
Locator at 800-677-1116 or http://www.eldercare.gov
- Be aware of help available through utility companies: Check
with your utility to see if they offer a monthly budget plan to help
spread out those high energy costs this winter over an entire year.
Utility companies also are a great source for energy conservation information.
- Look for ways to cut down on winter energy use: The ENERGY
STAR Program www.energystar.gov) offers steps to follow to make your
home more energy efficient Other easy steps to take include using storm
windows or inexpensive stretch window film to keep out drafts; using
a programmable thermostat to lower temperature automatically when you
are away from home or asleep; changing furnace filters at least every
three months to keep the warm air flowing; and weather stripping or
insulating the attic hatch or door to prevent warm air from leaking
out of the house. Also, although a log fire in your fireplace looks
nice, it does not heat your home efficiently, because heated air drafts
up the chimney. When not using your fireplace, close the damper.
- Ensure your health and safety: In addition to addressing the
need to stay warm during winter, consider safety as well. For example,
make sure that: smoke and carbon monoxide detectors are installed and
working properly; that water pipes are insulated to avoid freezing and
bursting; that electrical cords on space heaters are not damaged and
do not pose a tripping hazard; that batteries and battery-powered flashlights
are available; and that a fire extinguisher is up-to-date and ready
to use.
- Have a back-up plan: Before you need them, consider alternative
arrangements should extreme weather conditions require emergency action.
These might include having another place to stay temporarily; asking
someone to check on you daily- especially if you live alone; making
sure that your medicine and medical needs are met; and sharing contact
information with everyone who might need it.
For more energy tips see "Energy Saving Home Improvements From A to Z"
at http://www.seniorresource.com/SRBaz.htm#equip
A useful aid to assist your caregiver in gathering information he or
she may need in an emergency is a MedicTag . Visit http://www.seniorresource.com/newyork.htm#medrec
Home Habitat Influences Walking Options
These findings by University of Washington and Group Health Cooperative
researchers could have broad implications for public health and planning
officials throughout the United States, where obesity has been called
an epidemic and as baby boomers start to retire. Being able to walk around
the area in which one lives is an opportunity for exercise. Researchers
compared the study participants' self-reported walking behavior with geographic
information relating to the location of their residences, as well as some
200 directly observable neighborhood attributes, including parks, streets
and walking and bike trails, land slope, and traffic. Researchers concluded
that the chief factors contributing to an area's walkability were higher
residential density and clusters of destinations such as grocery stores,
restaurants, and other services. It should be remembered that the key
element is the "immediate area" around the home, not the general neighborhood
boundaries.
Additional walking information for seniors can be found at:
http://www.seniorresource.com/health.htm
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E. THOUGHTS FOR THE MONTH
We present here some words from those with a birthday this month.
Groucho Marx "Money will not make you happy, and
happy will not make you money."
Mahatma Gandhi "Nobody can hurt me without my permission."
Donna Karan "Everything in life has to have balance."
Sting "When the world is running down, you make
the best of what's still around."
Gore Vidal "Style is knowing who you are, what you
want to say, and not giving a damn."
More "Thoughts" at: http://www.seniorresource.com/thought.htm
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F. FREE THINGS
Giveaways
Woman's Day magazine provides a set of giveaways on the Web. Starting
on the first of each month, they bring you one great prize each weekday.
You can come back each day for a new chance to win. Visit them at: http://www.womansday.com/giveaways/
Lyrics for Your Favorite Songs
Can't quite remember the words of one of your favorite songs? Do you want
the lyrics to some of Frank Sinatra's songs? He was arguably the most
important popular music figure of the 20th century, his only real rivals
for the title being Bing Crosby, Elvis Presley, and the Beatles. In a
professional career that lasted 60 years, he demonstrated a remarkable
ability to maintain his appeal and pursue his musical goals despite often
countervailing trends. To get the lyrics for his songs and those of other
significant singers, visit http://music.yahoo.com/lyrics
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G.SPECIAL SURFING SITES
Memory Related Health Alerts
http://www.retiredamericans.org/
Do you or a loved one suffer from Alzheimer's disease or another form
of dementia? Do you need to make informed decisions as a caregiver, or
just provide support and advice? We know how crucial it is for people
suffering from Alzheimer's and other forms of dementia, and for the people
caring for them, to get the most current, reliable information on their
treatment options. With Johns Hopkins Health Alerts at: http://www.johnshopkinshealthalerts.com/alerts_index/memory/23-1.html
you can browse a list of most recent articles. Better still, you can get
the latest news on memory from this site sent straight to your inbox via
email.
Get more medical information at:
http://www.seniorresource.com/health.htm
"Best" Prescription Prices
Did you know that the price of prescription drugs can vary from pharmacy
to pharmacy? Searching for the "Best" Rx price has never been
easier! Seniorresource.com has made it easier for you to save money.
With the new Price Checker tool added to our site http://www.seniorresource.com/health.htm#pharm
you can compare prescription drug prices for 1,000+ medications. You'll
also see online pharmacy ratings and shipping fees so you can compare
total costs.
You should be aware that it is generally a good practice
for consumers to buy all of their medications from the same pharmacy so
that a pharmacist can keep track of the medications they are taking in
order to avoid potentially harmful interactions. If you do decide to shop
at more than one pharmacy, make sure that you inform the pharmacists of
all of the drugs you are taking.
Additional health information for seniors can be found
at:
http://www.seniorresource.com/health.htm
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H. OH MY AGING FUNNY BONE
Lost In The Darndest Places
An elderly Floridian called 911 on her cell phone to report that her car
has been broken into. She is hysterical as she explains her situation
to the dispatcher: "They've stolen the stereo, the steering wheel,
the brake pedal and even the accelerator!" she cried. The dispatcher
said, "Stay calm. An officer is on the way." A few minutes later,
the officer radios in. "Disregard," he says. "She got in
the backseat by mistake."
Rules to Consider
- There is always one more imbecile than you counted on.
- Experience is a wonderful thing. It enables you to recognize a mistake
when you make it again.
- By the time you can make ends meet, they move the ends.
- Thou shall not weigh more than thy refrigerator.
- Someone who thinks logically provides a nice contrast to the real
world.
- It isn't the jeans that make your butt look fat.
Visit 1000's of jokes of interest to people who have lived a long and
rich life.
"Oh My Aging Funny Bone" is at: http://www.seniorresource.com/jokes.htm
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This issue has been edited by Betsy Day (Betsyjday@aol.com).
Copyright 2007 seniorresource.com, ALL RIGHTS RESERVED. Information in
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