Reverse Mortgage

Fall injuries have been one of the key areas of concern today, this is especially true in case of elderly given their age and in many cases an already fragile health condition. According to a research conducted in year 2000 there were 1.8 mn fall cases of elderly. This is a significant number given the fact that there were just 35 mn elderly people (65+ years). Even more worrying is that most of these falls have lead to elderly getting admitted to hospital emergency rooms and in many cases deaths. These falls are cause of great worry not only because of loss of lives but also because it costs a huge amount in medical expenses (close to USD 16 bn in year 2000).

To tackle this serious problem, various steps have been taken by various agnecies, one of the most important are the efforts to decrease the fall incident numbers themselves – the root cause of problem.

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As the reverse mortgage industry is growing, eventually the scams associated with this industry are also increasing. Most of the frauds in reverse mortgage industry take place because of lack of awareness. While the rules are getting stricter but scammers stil find ways around them. Some popular scams are:

• Being Charged for Reverse Mortgage Information: One of the most common types of reverse mortgage scam is being charged for information on reverse mortgage by the advisor or estate planner. In many cases seniors are charged hefty amount of money to provide information which is provided free by HUD. Typically these charges are hidden within the estate planning program run by these firms and as borrowers are generally unaware about the fees collected by the firms for providing information they end up paying hefty amount. Sometimes this amount can be as large as 6 to 10 percent of the amount borrowed.

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Kitchen modifications can greatly ease the work for elderly and making it safer to work. There are so many customized kitchen devices available on the market that even a badly limited person can become a good cook.

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Bathrooms are considered one of the key fall areas for elderly and cause of many fatalities on a yearly basis. This is mainly because bathrooms are not designed or modified to suit their requirements. This is very important aspect to be considered to ensure comfort and safety of elderly.

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Most people have atleast two storey houses to take care of family requirements. But with growing age, usage of stairs to reach upper levels of house becomes tough. It is not just the problems during climbing stairs, there are also numerous cases of falls which happen on stairs. One way is to completely avoid them or use mechanical lifts to go up and down. But these methods are either not feasible or are expensive. Not only stairs, using ramps also cause issues with elderly as in many cases they misjudge the angle of landing and also slip.

We present here a some important yet simple tips which can help in making stairs and ramps more accessible, comfortable and safer to climb. These details are applicable for both exterior and interior ladders.

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Vision impairment is one of the age related disorders mostly felt by elderly. Still several elderly people wish to stay alone and independently even if they are suffering from vision impairment. Nevertheless, some elderly choose to make some alternate arrangements to stay along but it cannot be considered as the right solution for everyone.

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Throughout our lives we struggle to make their ends meet. Sometimes we have desires that can’t be supplemented with the income and in those cases we take help of various debt products – e.g. loan for buying a car, loan for vacation, loan for a house, medical loan, etc. But as one crosses the retirement age, repaying the remaining debt becomes tough as the income goes down while the payouts remain same or even increase (due to healthcare requirements). In many cases, paying such debt leaves little money for meeting daily expenses of elderly as most of the income earned will be used to repay the debts.

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