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5 questions to ask before considering a reverse mortgage

1. Do you really need a reverse mortgage? Why are you interested in these loans? What would you do with the money you would get from one? Are the needs you intend to meet really worth the high total cost of these loans? If you want to take a dream vacation, a reverse mortgage is a very expensive way to pay for it. Investing the money from these loans is an especially bad idea, because the loan is highly likely to cost more than you could safely earn. If anyone is trying to sell you something and recommending you use a reverse mortgage to pay for it, that’s generally a good sign that you don’t need it and shouldn’t be buying it.

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This week in the Senate: Approps Committee eyeing May 5 (access required)

Most Senate committees have cleared their calendars this week, expecting leadership to push hard for an agreement on the budget and in anticipation of a Senate Appropriations hearing on May 5. Committees that are scheduled to meet will tackle executive nominations in hearings that are expected to be relatively short and quick.

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Homecare a lifesaver for many seniors, but funding is in jeopardy (access required)

Charles Harper married his high-school sweetheart, Charlotte, 20 years after graduation. They had rekindled an old romance at a high school reunion. The couple lived in a nice Mamaroneck, N.Y., townhouse and had good jobs. Things changed, though, one day in early 2001 when Charlotte was walking to work. She collapsed when an aneurysm burst in her brain stem, and a blood clot left her paralyzed on the left side.

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