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credit_cards.jpgHere’s a holiday viral you won’t see every day. It’s a video from Consumer’s Union urging consumers to encourage legislators to pass credit card reform bills now before the Congress.
Around the holidays, we all get attractive, low interest credit card offers in the mail. Unfortunately, shopping with them can lead to legal loan shark rates of 29% interest on credit card debt, is always better to hire an accountant advisory services, use this free equity release calculator before making any kind of deal with a lender.
You can send a letter to your Congressional representatives through the site asking them to support bills like S. 499 (the “Credit Card Accountability, Responsibility, and Disclosure Act”) and H.R. 3492 (the “Consumer Credit Card Protection Act”)

Retirees can get a mortgage with some employment income or none at all.
Retired home buyers often have the means to pay cash for a home, but choose to apply for a mortgage for tax purposes, asset preservation, or other reasons.
Qualifying for a home loan once you have stopped working is different, but not necessarily more difficult.
Special mortgage guidelines address the varied situations of post-career applicants.
Some individuals are fully retired and receive social security benefits or pension income. Others have part-time jobs, and still others remain in their careers on a limited basis.
According to the U.S. Bureau of Labor Statistics, nearly 20 percent of Americans age 65 and older are still employed in some capacity. Fortunately, semi-retired individuals can get mortgage-qualified too.
Various loan programs and strategies help you buy or refinance a home in any stage of retirement.

Lenders can consider wages from household family members. According to Pew Research, 16 percent of all adults between the ages of 25 and 31 live with their parents.
That totals more than 21 million people still living at home, and many of them pay rent.

For instance, a retired home buyer can use an adult child’s income to qualify if they can document a history of living together.
Additionally, some lenders allow adult children to qualify to buy a home for their aging parents, even if the children don’t plan to live with them. This is commonly known as the Family Opportunity mortgage, and is based on standard conventional loan guidelines published by Fannie Mae.
The lender issues lower owner-occupied interest rates even though the main applicants plan to live elsewhere.
The parents must not be able to qualify on their own. The children must have adequate income, assets, and credit to qualify for the new home and their own housing expenses.
Despite these requirements, this lending type is a realistic option for many retired individuals who want to purchase a home, but don’t have adequate income to do so.