Although “reverse mortgage” is the current buzzword in the industry, they are not new to the financial landscape. The first documented reverse mortgage loan was secured by Nellie Young. The young woman made the arrangement in 1961 thanks to the Maine-based Deering Savings & Loan. Reverse mortgage arrangements were far and few between until the […]

The 501(c)(4) groups are known as social welfare organizations and have been used in recent elections by political advocacy groups, especially those supporting Republican causes. The IRS hasn’t levied the gift tax, currently with a top rate of 35 percent, on the groups or their donors in recent years. Taxing the organizations, the lawmakers wrote, […]

Last month, silver prices skyrocketed to an all-time high of $48 an ounce, causing many Americans to rifle through their jewelry boxes, attics and drawers for old necklaces and other silver trinkets. Silver is now trading at about $35 an ounce, but with gas and food prices soaring, people still are looking to raise some […]

The Senate GOP is stepping up pressure on Democrats in response to the plans of Senate Majority Leader Harry to set up a vote next week in the Senate on the fiscal year 2012 budget resolution that was approved by the House and drafted by House Budget Committee Chairman Paul Ryan, a Republican. Reid has […]

Another measure of unemployment rose as well: the so-called “real” unemployment rate, which rose to 15.9 percent, up two-tenths from the prior month. The government calls the rate the U-6, and it measures not just those looking for work and unable to find jobs but also those “marginally” attached to the labor force and those […]

Debt consolidation through personal loans for individuals with low credit are one of the options that many consumers are exploring as there are individuals who are regaining some form of financial stability even after setbacks from the recession and economic downturn have still been present in the lives of numerous men and women or some […]

Indeed, the batch of dismal data coming out of the world’s largest economy weighed on market sentiment, and the recent developments may encourage the Federal Reserve to retain a wait-and-see approach in the third-quarter as the central bank aims to foster a sustainable recovery. However, heightening price pressures could lead the FOMC to lift the […]

Oil tumbled 1.7 percent as the index, the New York-based Conference Board’s gauge of the economic outlook for the next three to six months, unexpectedly decreased by 0.3 percent after a revised 0.7 percent gain in March. Japan’s economy shrank more than estimated in the first quarter, a government report showed. “The leading indicator drop […]

As the recession has worn on, many Americans have had to use their employee-sponsored 401(k) plans as “rainy day” funds to take out loans, according to the legislators. The senators cited a recent Aon Hewitt study that found 28% of participants in contribution plans had an outstanding loan. Kohl, who is Chairman of the Senate […]

New and recent graduates are wondering if going to college is even worth it—a 2009 University of Pittsburg graduate who has been waiting tables, doing data entry, and working in a bookstore says, “I have friends with the same degree as me, from a worse school, but because of who they knew or when they […]