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Library group plans mortgage workshop
Friends of the Big Bear Library isn't all about books. The group hosts a workshop on reverse mortgages on Saturday, Jan. 26.The workshop is free. Donna Ward presents the information that will help attendees understand the benefits available through a reverse mortgage. She will answer questions on what a reverse mortgage is, who qualifies and what types of homes are eligible. Ward also discusses how much money can be obtained and how a reverse mortgage affects estates.People 62 and older and the Baby Boomer generation are active and want to remain so when they retire. Statistics show that more than 90 percent of that group have enough saved for retirement. Reverse mortgages are a way to use equity to pay for retirement.A guaranteed government FHA/HUD reverse mortgage is the safest loan available.Ward is a loans and reverse mortgage specialist with Robert Weber and Associates of Crestline. More>>
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BACK IN IRAQ: THE 'WHORES OF WAR'
EVEN FOR Blackwater, it was an atrocity too far. If an Iraqi government report is to be believed, Blackwater, a US mercenary company which is unofficially the world's largest "for hire" private army, indiscriminately and without provocation opened fire earlier this month on civilians in a Baghdad street, killing at least 20 people. Iraq immediately revoked the firm's licence to operate in the country and moved to expel its staff and prosecute those responsible for the shootings, but Blackwater's activities have since resumed.
This coincides with the release of a US Embassy report on the September 16 shooting, obtained by the Washington Post and described by a State Department official as a "first blush" account. It details the events, as given by Blackwater guards, and has stirred controversy in Iraq and Washington and prompted an inquiry into the role of Blackwater and other private security firms in Iraq. More>>
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Is the cost of housing finally cooling off?
Housing has been a key source of inflationary pressure in recent years, but that may finally be starting to cool off. Statistics Canada doesn't include house-price increases in its basket of consumer prices, though it does incorporate related costs such rent, repairs and property taxes. Shelter makes up almost a third of the CPI weighting.
And those components may finally be decelerating.
Mortgage rates fell earlier this week after the Bank of Canada cut its key lending rate, and they may fall further as the central bank continues to lower borrowing costs. Homeowners' replacement costs, which represents the cost of maintaining a housing structure, have been decelerating since July and last month's increase was the slowest in more than five years. More>>
