Are you a homeowner who is concerned about the cost of home maintenance or repairs? Are you worried about paying your property taxes or where you will find the funds to accommodate increasing costs on a fixed income? Are you finding it difficult to keep up with your mortgage payment? You are not alone. About 29% of senior homeowners in Washington are “cost-burdened,” which means they spend more than 30% of their monthly income on housing costs. The good news is that help is available.
AARP on Governor’s ‘Middle Class Recovery Act’: Addressing Looming Savings Crisis Critical for Millions
3.5 M Could Miss Middle Class Retirement; AARP Urges State-Facilitated Workplace Retirement Savings Option; Backs Proposals to Fight Elder Financial Exploitation
AARP Legal Counsel for the Elderly (LCE) recently settled a class action lawsuit on behalf of reverse mortgage holders charged for excessive “drive-by” property inspections.
The newest federal consumer protection agency is the Consumer Financial Protection Bureau (CFPB), created in 2011 in response to the financial crisis of 2007-2008. T he CFPB has jurisdiction over banks, credit unions, securities firms, payday lenders, mortgage-service companies, foreclosure relief services, and debt collectors, among other financial institutions. Thus far it has focused on mortgages, credit cards, and student loans. It is located inside the Federal Reserve System, with an interim affiliation with the U. S. Treasury Department.
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