The Survive and Thrive Boomer Guide

Consumers need more information about how real estate transactions work, consumer group says

Two-thirds of consumers believe that real estate agents are always or almost always required to represent the interests of the home buyer or seller with whom they are working, according a survey. Yet, many agents working with consumers represent the interests of the other party or the interests of neither party.

A report by the Consumer Federation of America incorporated its research of the literature on real estate agency, its mystery shopper survey of agents, and a survey by ORC International.

“Today, many home buyers and sellers do not know whether their agent is representing their interests, those of the other party, or those of neither,” said the report’s author, Stephen Brobeck, a federation senior fellow. “Given the huge expenditure of a home purchase and the conflict of financial interests between seller and buyer, it is important that consumers know who their real estate agent is actually representing.”

Manafort, guilty – Cohen, guilty: What’s next?

Paul Manafort                        Michael Cohen

Photo: Voice of America        Photo: IowaPolitics.com

If you’re a regular reader of my blog, you know that I’ve written dozens of articles about how the Trump administration is slashing environmental and consumer laws and regulations as fast as it can.

To me, yesterday was a great day in terms of beginning to get some answers about the crimes being committed by members of Trump’s inner circle and, perhaps, the president himself.

Paul Manafort, 69, Trump's former campaign chairman, was found guilty Tuesday by a jury on eight counts of financial crimes. The eight counts included five tax fraud charges, one charge of hiding foreign bank accounts, and two counts of bank fraud.

Michael Cohen, 51, former longtime Trump attorney, pleaded guilty Tuesday to eight felony charges of tax fraud, bank fraud, and campaign finance violations. Cohen said he coordinated with Trump to illegally payoff two women to keep them quiet about alleged affairs with Trump.

At last, we’re beginning to get some answers on what officials in the Trump administration were up to. Cohen pointing to Trump about a campaign violation is particularly illuminating.

What’s next?

Boomer bloggers continuing onward as we prepare to celebrate the birth of our nation

It’s July already, and Wednesday we’ll be celebrating the 242^nd Independence Day in the United States.

Democracy is so important to this country, and since President Donald Trump was elected in 2016, our democracy has been under attack. Each day Trump and his cronies seem to come out with some new way to tromp on consumers and the environment.

Despite these challenges, baby boomer bloggers are keeping keeping on. They’re writing about the pros and cons of apartment living in retirement, how to make decisions that let you keep growing, the difficulties working with an internet service provider, how to change ourselves, and jewelry for the private parts.

Sue Loncaric of Sizzling Towards 60 and Beyond reports on these articles for the Best of Boomer Blogs 553.

I hope you have enjoyed this week’s edition of our boomer writings.  Don’t forget to leave us a comment and also share the love.

Copyright 2018, Rita R. Robison, Consumer Specialist

Top 11 occupations held by American’s 65 and older

Baby boomers are retiring in record numbers and with higher life expectancy and better healthcare. But, a record number of people 65 and older are continuing to work

Higher education teachers 65 and older make up 11.3 percent of the workforce, and despite universities trying to buy out older professors, retirement offers are being declined, and 15 percent plan to keep teaching until they’re 80.

The top 11 occupations held by American’s 65 and over, according to SeniorLiving.org, are:

Best wishes on Memorial Day

On the 150th anniversary of Memorial Day, it's a good day to remember the men and women who have served our country.

Some possible activities include:

• Visit a cemetery and place a flag or flowers on veterans’ graves.
• Visit war memorials.
• Fly the U.S. flag.
• Participate in the National Moment of Remembrance at 3 p.m. to pause and think about the meaning of Memorial Day and listen to the taps being played.
• Volunteer with a local veterans’ group or organization or attend an event.
• Donate to a charity that helps veterans.

Banks convince lawmakers to pass massive bank deregulation, despite record earnings

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported net income of $56 billion in the first quarter of 2018, up $12.1 billion or 27.5 percent from a year ago.

The Trump administration’s $1.5 trillion tax cuts and higher revenue are responsible for the record income, said FDIC Chairman Martin J. Gruenberg.

Despite the fact that banks are having record earnings, they lobbied hard to get the Republican-led Congress and President Trump to enact huge cuts to regulations.

If banks have record earnings, why do they need to have regulations slashed, so they can make even more?

Barclays agrees to pay $2 billion to settle fraud charges related to the sale of mortgage securities prior to the Great Recession

Photo: Secretlondon

Barclays Capital Inc. and several of its affiliates agreed Thursday to settle charges of fraudulent conduct related to Barclays’ issuance of residential mortgage-backed securities between 2005 and 2007, according to the U.S. Department of Justice. Barclays, a huge British bank, will pay $2 billion in civil penalties in exchange for dismissal of the lawsuit.

The settlement is about $3 billion less than what the department originally asked for, according to a Consumer Affairs article. Barclays refused to pay $5 billion, causing the department to file a lawsuit in 2016. From the beginning, Barclays said it would refuse to pay more than $2 billion.

The department’s lawsuit alleged that Barclays caused billions of dollars in losses to investors by engaging in a fraudulent scheme to sell 36 RMBS deals, and that it misled investors about the quality of the mortgage loans backing those deals.

PHH Mortgage to pay $45 million for improper mortgage servicing

PHH Mortgage Corp. has reached a $45 million settlement with 49 states, the District of Columbia, and 45 state mortgage regulators. 

The settlement resolves charges that PHH, the nation’s ninth largest non-bank residential mortgage servicer, improperly serviced mortgage loans from Jan. 1, 2009 through Dec. 31, 2012. The agreement requires PHH to follow mortgage servicing standards, conduct audits, and provide audit results to a committee of the states.

“The foreclosure crisis continues to devastate communities across New York,” New York Attorney General Eric Schneiderman said Wednesday. “This settlement requires new mortgage servicing standards and ensures financial relief for homeowners harmed by PHH’s practices.”

Baby boomers ponder health, taxes, history, and more

Carol Cassara of Heart·Mind·Soul likes see some of these vintage VW Beetles so familiar to baby boomers on the road, and it always reminds her of her younger days.

Cassara says it’s her favorite time of the week – when baby boomers blog about what’s on their mind these days. In her round-up of boomer blogger articles, she tells us boomers are writing about helpful medical information, an assessment of the proposed tax plan, a look back at the death of President John F. Kennedy, and more.

To get the links for the Best of Boomer Blogs #521, click here. And be sure to join in the conversations. Boomer bloggers love to hear from readers.

Copyright 2017, Rita R. Robison, Consumer Specialist

Baby boomers ponder retirement and old age

Lancaster County, Pennsylvania, is ranked the second-best place to retire in 2018 by U.S. News and World Report.

Although he’s been blogging for more than seven years, Tom Sightings reports he’s been AWOL for a couple of weeks. He’s had a short-term job and his daughter was married in Brooklyn, New York, recently.

Now Sightings, who blogs at Sightings Over Sixty, is back in the saddle, offering a round-up of baby boomer blogger articles this week.

Boomer bloggers are writing about sharing big, empty-nest houses; moving away to retire from the second-best place to retire in the nation; figuring out how Amazon is allowing third-parties to sell worn books as new so authors won’t get a royalty; wearing sunglasses and wide-brim hats all year around to protect your eyes and skin from the sun; and experiencing the new old age.

See the Best of Boomer Blogs #518 for links to these articles. And be sure to join in the conversations. Boomer bloggers love to hear from readers.

Copyright 2017, Rita R. Robison, Consumer Specialist

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