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 […]
Category: Independent Living
The topic of moving a senior from one level of care to another has always been a topic of conversation and frustruation amongst residents and facility administrators. The court system has ruled that facility administrators has a duty to provide a resident with medical care based upon the level of need and cannot delegate that […]
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 […]
Last week, the the draft of the economic recovery bill released by the House of Representatives contains a provision that would set the single national loan limit for HECM at a higher level than $417,000–for the balance of 2009. The change would bring the HECM loan limit to 150% of the Freddie Mac limit, or […]
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 […]
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 […]
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, 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 […]
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 […]
Do the words “housing project” have a negative connotation in today’s economic environment? How about tossing in the word “senior”? Well many of the upscale areas in the United States are putting up major obstacles to permitting senior housing projects in their markets as seniors are showing a stronger desire to remain local to their […]