Obama’s Mortgage Rescue Plan For Senior Homeowners Falls Short

President Barack Obama revealed his much anticipated plan to fight the housing crisis by proposing to spend almost $300 billion to shore up the housing market and stem the onslaught of foreclosures. The plan calls for assisting almost 9 million homeowners that include those in the foreclosure process and those who are current on their […]

Renovated Boston Manor Becomes Home For Gay Senior Housing Project

The Gay and Lesbian senior housing movement is heading east. Bellevue Senior Living has transformed a historic manor into a shared single-family residence actively welcoming GLBT seniors (they are accepting straight seniors, too). Bellevue Manor is the first of its kind to provide gay seniors with the opportunity to maintain their current lifestyle with like-minded […]

Denver Senior Housing Project Targets Former Educators & Administrators

Last week the Denver Post ran an article on a senior housing community that specifically caters to retired teachers and administrators in Denver’s public schools. While anyone over 55 can live there, preference is given to those who worked previously for Denver’s Public Schools. The Denver Educational Senior Citizens, Inc. (DESCI building) opened in 1961 […]

Silvers Summit Shows Technology Products For Aging in Place

Last week, the Consumer Electronic Show (CES) had its inaugural Silvers Summit at the show and displayed some cutting edge technology and products that focus on the growing senior demographic. Participants included hospitals, nonprofit groups, retailers, insurers and dozens of entrepreneurs, many of whom got involved after personally experiencing what it is like to care […]

Reverse Mortgage Volumes Grew By 6% in 2008

Despite the credit crisis and tightening credit requirements in the mortgage market, data released in December by the Department of Housing and Urban Development shows that on a calendar year basis, the number of federally insured Home Equity Conversion Mortgages (HECMs) closed in 2008 grew 6.4% to 115,176 loans. A more detailed analysis of HUD […]

Mirabella Seattle CCRC Opens its Doors

Mirabella Seattle, a new Continuing Care Retirement Community (CCRC), recently opened ahead of schedule in the South Lake Union neighborhood of Seattle. Mirabella is a 12-story residential community for seniors age 62 and better who want to live in Independent Living apartments and penthouses with views of Seattle. There are also Assisted Living apartments that […]

What Do 4.75% 30 Year Fixed Mortgage Rates Mean For Senior Housing?

Mortgage brokers and lenders have been busy this week. The good news is that borrowing is getting cheaper, unfortunately not easier. The same is true for developers that have existing, performing loans with lenders with the drop in the prime lending rate. With the 10 year treasury note around 2.10%, the market for conventional fixed […]