Older individuals who own their homes may find themselves "house rich and cash poor." Developed to address this dilemma, a reverse mortgage provides funds to an older homeowner by drawing against the equity built up in the residence. Unlike "forward" mortgages, reverse mortgages are not repaid on a monthly basis. The total loan is repaid when the last surviving borrower sells the home, vacates the property or dies. This article can be read in full with a Plus Edition account.
Business
-
-
Where did your investments spend the last three years?
It's three years and one quarter since the banking crisis of September 2008. The housing market had already started to decline at that time, but nothing recently has hit us as fast and as hard as the loss in stock values following the failure of Lehman Brothers. This was also a time of significant loss of confidence in the market, in banks and in rating agencies.
-
Business News in Brief
Valentine's Day wine, chocolate pairing
Jewell Towne Vineyards will hold a Valentine's Day Wine and Chocolate pairing on Saturday, noon to 4 p.m., at the winery in South Hampton. Partnering with the Lindt Chocolate Shop located in the Industrial Park in Stratham, N.H., they will be sampling a variety of premium chocolates paired with Jewell Towne wines. Both chocolate and wine will be available for purchase during the event. The event is open to the public, free of charge, and no reservations are needed. For more information, visit their website at www.jewelltownevineyards.com or call 603-394-0600. -
Whittier Tech students get on-the-job training at school
HAVERHILL — The more than 100 students at Whittier Regional Vocational Technical High School who have outside co-op jobs enjoy real-world job experience, a paycheck and only have to come to school every other week for their academic classes. It's a taste of the freedom and independence that is around the corner for them.
-
Business News in Brief
Workshop seeks to decode the QR Code
An interactive workshop focusing on the new mobile marketing tool QR Codes will be held Wednesday, Feb. 8, from 8 to 10 a.m. at Newburyport Public Library, 94 State St. -
Business school offers new opportunities
CAMBRIDGE, Mass - (BUSINESS WIRE) MIT Sloan School of Management announced two changes to its Master of Finance (M.Fin) program: an additional round of admissions with an application deadline of March 15, and the availability of partial tuition fellowships for a select group of highly qualified candidates. The moves are in response to growing student and industry demand for the specialized degree.
- Mersen completes business purchase
- December 20, 2011
- Finding your thermal weaknesses
- Business News in Brief
- December 6, 2011
- Longevity: the blessing and the bane
- November 22, 2011
- Business News in Brief
- November 15, 2011
- Business News in Brief
- November 1, 2011
- Stop worrying, begin to love volatility
- Business news in brief
- October 18, 2011
- Handling heat loss in cathedral ceilings
- Business News in Brief
- October 4, 2011
- The graying of retirement pictures
- Business News in Brief
- September 6, 2011
- Special Social Security benefits for married boomers
- Business News in Brief
- August 30, 2011
- Business News in Brief
-
Where did your investments spend the last three years?
Obama Scraps Birth Control Mandate
US Airmen's Killer Sentenced to Life in Germany
Navy Names Ship for Gabrielle Giffords
Raw Video: Deadly Blasts in Syria
Romney Slams President Obama at CPAC
Gingrich: Pres. Obama 'waging War on Religion'
5 Killed in Wrong-way Crash on I-10 in La.
Uzbek Man Pleads Guilty in Plot to Kill Obama
Denver's Largest-Ever Drug Bust Nets Dozens
Marines: No Punishment for Nazi-like Flag
Vets Look to Translate Military Skills Into Jobs
Raw Video: School Bus Burst Into Flames
LA School Reopens Amid Sex Abuse Scandal
$25B Settlement Reached Over Foreclosure Abuses
Pentagon: Allow Women Closer to Front Lines
LA School in Sex Abuse Scandal Reopens
Raw Video: Italy's Mount Etna Bursts Into Life
Greeks March; Angry Despite Debt Deal
Air Force Airlines: Leaders Get Polished Service
Ga Girl Fights Off Kidnapper at Walmart
