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Tag Archives: AARP

Commentary: Defining Compromise

A compromise, certainly in politics, is usually a result which both sides in a dispute find equally unsatisfactory. It usually comes after some protracted negotiations from extreme positions. In the budget unveiled this week, President Obama, as he has in so many policy initiatives, attempted to reshape the political lexicon and landscape by beginning a compromise, not from an extreme, but from the middle. There is a lot for both sides to dislike in the Obama budget plan and there will be more as the document is scoured by both sides. The devil is always in the details.

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AARP: Older Homeowners Hit Just as Hard by Foreclosure Crisis

A report released Thursday from AARP suggests that older Americans may not have escaped the foreclosure crisis unscathed, as some previously thought. The report, titled Nightmare on Main Street: Older Americans and the Mortgage Market Crisis, showed that many of the country's older citizens are taking their mortgage debt with them into retirement. Approximately 600,000 older homeowners were experiencing foreclosure, and another 625,000 were 90 or more days delinquent.

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Poll: Voters Overwhemingly Favor Financial Reform Laws

Lake Research Partners released the results of an opinion poll showing that financial reforms enacted in recent years remain popular with potential voters. In light of events leading to 2008's financial meltdown, potential voters seem to overwhelmingly favor financial reform laws designed to prevent abuse. Nearly three-quarters (73 percent) of respondents favor the Dodd-Frank financial reforms, while only 20 percent expressed disagreement.

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AARP Sues HUD over Reverse Mortgage Foreclosure Actions

AARP, the nation's largest nonprofit membership organization established to support the social wellbeing of individuals over the age of 50, filed a lawsuit this week against HUD on behalf of three surviving spouses of reverse mortgage borrowers who are now facing foreclosure. The lawsuit names HUD Secretary Shaun Donovan as the defendant and alleges that the federal agency has made changes to federal rules that offer protection for surviving spouses to allow its lenders to initiate foreclosure and eviction actions against the plaintiffs.

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