Columns

When you or a loved one become unable to completely take care of yourself, the question, “What care option is best?” becomes important to answer. While it is important to consider one’s personal wants and needs, it is equally important to weigh out what the future may hold in terms of changes in the type of care needed. With care being so expensive today, you may need to look into applying for VA benefits or Medicaid to help pay for your care, adding another challenge to balancing and planning for the care that may be needed. The following is meant …

It took four months, but the 1940 U.S. Census is finally fully indexed! I don’t remember how long it took for them to index the 1930 census, but that was released 10 years ago. Frankly, I don’t remember what I ate for lunch today! Now that the census is fully indexed, you no longer have to use the old method of trying to find people based on their address. This method is still valid, but now that all names are online, you can search by name and skip the middle man. Even though the census is now completely done, it …

Most people think that the bank they make their mortgage payment to actually owns the mortgage, but in most cases, the bank that you make your payment to just services the mortgage and it is ultimately owned by one of the two mortgage giants. Fannie Mae and Freddie Mac where chartered back in the early ’70s, and later became public companies that were traded on the stock exchange. The purpose of Fannie Mae and Freddie Mac was to raise funds from investors to purchase mortgages from banks. Fannie and Freddie will sell bonds called “Mortgage Backed Securities,” or MBS, that …

If your family member has dementia or Alzheimer’s, then they’re on a journey. Hopefully, this Elder Law Update will help you understand what lurks around the next bend, especially pertaining to the new rules for Medicaid. The year 2012 has seen two major pieces of legislation impact Illinois seniors, including those with dementia and Alzheimer’s. First, effective January 1, 2012, Illinois put into effect the Federal Deficit Reduction Act of 2005, with retroactive effects to January 1, 2007. This rule affects almost every aspect of Illinois Medicaid relating to long-term care for seniors, including eligibility for medical assistance, income standards, …

This summer has been the hottest housing market in almost seven years, according to the U.S. Census Bureau, which reported that new construction grew at an annual rate of 6.9 percent in June of 2012. In addition, home prices rose for the first time in seven months, according to the Home Price Index, and homes in pending status rose 9.5 percent from June 2011 to 2012, according to the National Association of Realtors. This supports what I have discussed in a previous column: That multiple offers are back, and can cause buyers to pay more than they would prefer, and …

Last month we saw just how much new data has been made available for free at familysearch.org. The competition, so to speak, is Ancestry.com. Ancestry is a pay site, and I don’t have any connections to them, but it is time to review the newest additions to Ancestry and you can decide for yourself if you want to pay for access, or try it for free at a local public library or family history center. Ancestry charges based on the scope of the collection you want. They have simplified the packages to two major choices. The US Discovery package gives …

QE, or quantitative easing, is the action the Federal Reserve takes to buy mortgage and treasury bonds in the open market with the hopes of pushing down interest rates to a point that will jump-start the economy. QE also has a great effect on the stock market because it artificially boosts stock prices, giving the economy a chance to come around. The Federal Reserve has already implemented two rounds of quantitative easing, which has swelled their portfolio of mortgage and treasury bonds to a record $1.8 trillion. The treasury also recorded over $70 billion in trading profits in 2011 from …

A few weeks after Francesca’s doctor told her she might have Alzheimer’s disease, her son Joseph visited her. “Mom, I’ve been thinking we might need to talk,” Joseph said. “Ever since Dad died, I’ve been trying to help you with the financial details Dad usually handled.” Francesca nodded, but said nothing. “Now, don’t get me wrong, Mom. We know you’re still doing pretty well on your own right now,” Joseph continued. “And hopefully you’ll be able to for years.” Francesca folded her hands in her lap. “So then let’s not worry about it now.” Handling the Problem While Francesca is …

With the abundance of distressed and low-priced properties for sale, many people are considering becoming first-time landlords. But before you embark on such a venture, it’s important to fully understand landlord and tenant rights and responsibilities. A landlord usually is responsible for keeping the unit in a livable condition, which includes making the necessary repairs along with ensuring that the property is in compliance with all state and local housing codes. The landlord sets the rental amount for the property, and being a first-time landlord, it is best to research the area and charge a few dollars lower than the …

The Home Affordable Refinance Program (HARP) was started in early 2009 for homeowners who wanted to refinance but were thwarted because of declining home values. The program was initially aimed at loans that had been originated prior to March of 2009, and allowed for a home’s value to come in at 25 percent below that mortgage amount. In March of 2012, the government release HARP 2.0, which allowed lenders to do refinance loans that were originated prior to May of 2009 and lifted the limit as to how low the value of the home could be relative to the mortgage. …