What happens when GE wants to bring good things to life (and keep them alive) and when Intel wants to be inside the home?  A joint venture.  GE (NYSE: GE) and Intel Corporation announced Monday that they are creating a new healthcare company focused on telehealth and independent living.  The announcement builds on the GE-Intel [...]

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The U.S. Department of Housing and Urban Development (HUD), after nearly 2 years of studying and revisions, recently published new procedures governing the process for seniors who are counseled for federally insured Home Equity Conversion Mortgages (HECMs).  The new procedures provides more detailed information which must be provided ahead of the counseling session, what must [...]

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The Evangelical Lutheran Good Samaritan Society announced that it has selected WellAWARE Systems monitoring technology in providing care to seniors living at home or in assisted living centers for its LivingWell@Home Project.  The LivingWell@Home Project is part of an expansion of the Good Samarian’s use of sensor technology and telehealth services. The goal of the [...]

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The Pennsylvania Department of Aging last week announced a nutrition services grant to help members of the Nationalities Service Center Senior Center tend their community garden in North Philadelphia. The center, which opened in 1986, older immigrants and refugees from Vietnam, China, Cambodia, Laos, Iraq and other countries, as well as people born in the [...]

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How do you trigger a default on a reverse mortgage?  One of the ways to trigger a default is failure to pay taxes and insurance on the property that secures the reverse mortgage and the fear of headline risk is giving some lenders and servicers pause before declaring defaults on seniors.  According to a recent [...]

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There’s a buzz about a recent article in the Wall Street Journal entitled, “Beyond Estate Planning: Bankers Tackle Elder Care” that talks about growth opportunities that banks are seizing to help assist some of their best and most trustworthy customers, their senior customers.  From helping to pay bills, arrange for services or refer to other [...]

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Mortgage rates hit new lows this week for conventional financing with the national average for a 30 year fixed rate mortgage reaching 4.74% APY according to Bankrate.com.  The rate is the lowest in the 25 year history of Bankrate’s weekly survey.  According to the National Bureau of Economic Research, rates on FHA-insured mortgages averaged 4.71 [...]

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Are seniors opening their pocket books more this year?  According to a recent Gallup poll, seniors in the 65+ category increased their average daily spending from $44 dollars to per day in 2009 to $64 dollars per day in 2010.  That’s a big jump when compared to the 50-64 demographic that increased its spending in [...]

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By Jane Lott One of life’s most painful experiences is coping with a loved one’s death and even the most rational minds can find the simplest decisions difficult when the grieving process occurs.  But decisions about closing up the family home become next to impossible and doing the work of sorting, packing and throwing away [...]

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Since the credit crunch of 2008-2009, almost all lenders in the reverse mortgage market stopped originating proprietary reverse mortgages on until now.  Last week, Generation Mortgage Company announced the release of a new jumbo reverse mortgage loan for homes valued up to $6 million. The new product is eligible for homes valued between $500,000 and [...]

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The TRIL (Technology Research for Independent Living) Centre, Ireland announced this week a new industry partner, GE Healthcare (NYSE:GE). TRIL is a research initiative, founded in January 2007 by Intel Corporation and the IDA Ireland (Industrial Development Agency), to explore the physical, cognitive and social consequences of ageing and design technologies to help address them. [...]

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The Gary and Mary West Senior Wellness Center, located in San Diego, California, recently celebrated its grand opening and will serve as Senior Community Centers’ flagship facility.  The Gary and Mary West Foundation’s $4 million gift was instrumental in making the center and its innovative programming possible.  The facility’s uses of natural resources and technology [...]

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