If at first you don’t succeed, try, try again …that seems to be the game plan for the Obama Administration’s Home Affordable Refinance Program. After version 1.0 failed to produce substantial results to assist homeowners who are underwater, it appears that looser guidelines are the next salvo in the fight to re-invigorate the ailing housing [...]
It’s hard to believe, but Medicare’s open enrollment season began last week. And this year, as a result of the federal health reform law, seniors will have to brace for several changes. Seniors who rely on privately administered Medicare Advantage plans for their benefits will face the biggest adjustments. That’s too bad, as Medicare Advantage [...]
There has been an increase in the coverage about the Obama Administration’s desire to stimulate the housing market during the last few weeks. Housing stimulus and the reform of the housing finance agencies have taken a back seat during the summer months with the debt limit drama, but there seems to be renewed interest. Many [...]
Homeownership in the United States has been the cornerstone of personal finance for the better part of 50 years. As the Baby Boomer generation faces choices about downsizing their living quarters with the prospect of either full or partial retirement on the horizon, the decision to re-invest the proceeds of a McMansion to purchase a smaller [...]
Ok. We’ve been loathe to cover the debt ceiling drama but it appears that one of the key programs on the chopping block for the ‘Gang of Six’ proposal is the CLASS Act. The Gang of 6 plan calls for the repeal of the CLASS act as part of the ObamaCare plan, which is part [...]
Summertime is shorts weather, but we’re not talking about the “Bermuda” type. In the spirit of summer reading, I just finished “The Big Short” by Michael Lewis, author of the books “Liar’s Poker” and “The Blind Side.” For those who have not read “The Big Short”, it examines different business people taking short positions against the subprime [...]
What’s the over / under on longevity? A new financial derivative, also known as the death derivative, is garnering interest at many levels for its benefits for pension funds but also raising concerns about regulation and capital requirements. Pension funds are seeking to quantify and hedge their risk if their members live longer than anticipated. [...]
By Robert Blancato A new government report found that the President’s healthcare law has saved seniors $38 million in drug costs this year. Those are welcome savings to elderly patients across the country still struggling with the recession. These drug savings come from the health law’s provision phasing out the “donut hole” in Medicare’s Part [...]
On the Record: Steven Insoft, CFO & COO of Aviv REIT
While publicly traded healthcare real estate investment trusts (REITs) like HCP, Inc., Ventas, Inc., and Health Care REIT Inc. grab a lot of headlines, privately traded ones like Aviv REIT often seem to fly under the radar. But as Senior Housing News recently discovered after speaking with Aviv’s Steven Insoft, who holds dual roles of [...]
On the Record: Majd Alwan, Executive Director of LeadingAge CAST
With technological advancements tied so closely to the future of senior care, Senior Housing News recently interviewed Majd Alwan, Ph.D., the Senior Vice President of Technology and Executive Director of the Center for Aging Services Technologies (CAST) at LeadingAge, an association of not-for-profit, long-term care providers of senior services. At any given time, CAST is [...]
On the Record: Keith Reuben, EVP of Commercial & Specialty Lending at Capital One Bank
In the past 30 years, Capital One has transformed itself from “just” a credit card company into one of the U.S.’s top banks. And as part of its lending arm, Capital One Bank says it has a significant focus on its commercial and specialty finance business, which encompasses senior housing and care lending. Last Fall, [...]
On the Record: Adam Kane, SVP of Corporate Affairs at Erickson Living
In 2009, the company known as Erickson Retirement Communities, headquartered in Baltimore, Md., filed for Chapter 11 bankruptcy protection. In December of that year, Hanover, Md.-based Redwood Capital Investments LLC bought most of the bankrupt company’s assets for $365 million, out of which emerged Erickson Living. Senior Housing News recently caught up with Adam Kane, [...]
On the Record: David Reis, CEO of Senior Care Development
After seeing that Senior Care Development, LLC had placed a stalking-horse bid on the bankrupt Clare at Water Tower, in Chicago’s Gold Coast, Senior Housing News tracked down its chief executive officer David Reis for an exclusive interview. Reis has extensive experience in senior living development, and specializes in ground-up development of large-scale continuing care [...]
For CLASS Act to Survive, Look to FHA for Inspiration
New construction is a risky proposition these days. Initial design and the costs of construction are some of the most critical factors when developing a new home even though the long-term use of the house is unquestioned. Is it right to rip up the foundation of a new home because of questions about how to [...]