How to Keep Your Money Safe

by Admin 8. December 2014 11:17

In the wake of the financial crisis—described by many as the worst since the Great Depression of 1930s—consumers wonder about the stability of our country’s banking system, specifically the safety of their local hometown banks. How do you know if your bank and your money are safe?

First, if you are like the vast majority of consumers, you maintain a cash balance of less than $250,000 in any one financial institution. Balances under $250,000 are insured by the Federal Deposit Insurance Corp. (FDIC), for which your bank pays premiums. Since the establishment of the FDIC in 1933, it has insured customer deposits and protected depositors in the unlikely event of failure. The FDIC offers helpful guidance for depositors to ensure all accounts are properly insured at

In addition to this built-in safety measure, following are some steps consumers can follow to ensure financial safety:
• Keep a written log of your credit and debit cards issued by your financial institution. Keep this log in a safe place in your home or office, in case one or more are misplaced or stolen. Notify your financial institution immediately if a card is lost or stolen. Never write your personal identification number (PIN) on the back of your debit card.
• Regularly check account balances for accuracy and suspicious activity. While banks and other financial institutions go to great lengths to protect data from identity thieves and others trying to gain access to your account, it is still important that you regularly monitor all of your accounts.
• Beware of any contact from an individual claiming to be from your financial institution who asks for account or personal information. This can be by phone or email, and you should never provide such information. Immediately report this communication to your bank, so it may notify the proper law enforcement authorities.
• If you are elderly, be extra wary of scam artists. Be it a promise to do home repairs that requires a large down payment—and the work is never done—or an investment opportunity that guarantees a high return, scam artists often target elders. Keep in mind that if something seems too good to be true, it usually is.
• Secure mobile phones and other devices that store sensitive account information. Protect these devices as you would your wallet or purse, and activate the security code and lock features.
• Be cautious when using automated teller machines. Use only well-lit machines that are in public places, and check your surroundings before proceeding with any transaction.

Your financial institution has a vested interest in protecting you and your money, and your local banker can be an excellent resource to answer questions or address concerns about the safety of your money.


This information is provided with the understanding that the association is not engaged in rendering specific legal, accounting or other professional services. If specific assistance is required, the services of a professional should be sought.
Provided as a public service by the Indiana Bankers Association.



NFCC Offers Consumers Five Steps to Finding $1,000 for Holiday Spending

by Admin 31. July 2014 10:08

With the holidays five months away, now is the time to take action


Washington, DC – The 2014 holiday season is a short five months away, yet many are financially unprepared to begin shopping. In recent years, Americans spent an average of $800 on holiday-related expenses. That's more than a week's wages for many workers, and in spite of the fact that the December holidays are an annual event, people routinely neglect planning for them and resort to charging their purchases.

Consider the ramifications of this lack of planning: If a shopper charges $1,000 and makes only the minimum monthly payment of 2 percent of the balance at an Annual Percentage Rate of 18 percent, it will take 12 years to pay off the debt. Think of it this way – the ghost of Christmas past will haunt until 2026. Further, this generous consumer will have paid a total of $2,353 for the $1,000 worth of goods and services purchased.

The National Foundation for Credit Counseling® (NFCC) proposes a better plan. Since debt is a gift no one wants, the NFCC suggests five steps that consumers can put in place now in order to have money available for holiday spending and create a debt free holiday.

  • Before trimming the tree, trim everyday spending. Review current spending looking for leaks. Plug those leaks and use the found money for holiday spending. Amount saved by December 25 at $1 per day: $150.
  • Adjust the W-4 to accurately reflect the amount of taxes owed. The average income tax refund in recent years has been close to $3,000, but Uncle Sam only returns that money in April, long after the holiday bills should have been paid. Amount saved by December 25 at $250 per month: $1,250.
  • Commit to shaving $10 off of 10 spending categories. Some obligations such as rent, mortgage and car payments are fixed. However, there are other categories that offer a great deal of flexibility. Cut back $10 each month on categories such as food, clothing, gas, utilities, and entertainment without feeling deprived. Amount saved by December 25 at $100 per month: $500.
  • Sell unused items. Since others are also shopping, this is the perfect time of year to sell items that haven't been used in one year. Amount saved by December 25: $100.
  • Open a separate holiday savings account. Don't mingle the holiday money with existing savings or checking accounts, as it could easily get spent on other items. Amount saved by December 25: $1,000.
  • "If you're still paying for holiday spending 2013, consider rethinking your gift giving for this year," said Gail Cunningham, spokesperson for the NFCC. "It makes no financial sense to pile new debt on top of old. Kindness and experiences are meaningful substitutes for purchased gifts, and are remembered long after the wrapping paper and bows have been discarded."

    Find answers and solutions to your financial concerns by reaching out to an NFCC member agency. To be automatically connected to the agency closest to you, dial (800) 388-2227, or find an agency online at

The National Foundation for Credit Counseling (NFCC), founded in 1951, is the nation's largest and longest serving national nonprofit financial counseling organization. The NFCC's mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services. NFCC Members annually help millions of consumers through more than 600 community-based offices nationwide. For free and affordable confidential advice through a reputable NFCC Member, call (800) 388-2227, (en Español (800) 682-9832) or visit Visit us on Facebook:, on Twitter:, on YouTube: and our blog:


Poll Shows Young Adults May be Overlooking Obvious Resources for Sound Financial Advice

by Admin 2. July 2014 03:59

Baby boomer generation performing well in many areas of financial management

Washington, DC - Moms may receive a book on personal finance as their Mother’s Day

gift this year, as the National Foundation for Credit Counseling (NFCC) recent online poll

revealed that if financial advice were needed, more people would reach out to dad than

mom for help.

Moreover, the majority of poll respondents, sixty-four percent, felt as though they could

obtain better advice than what either mom or dad can offer. Considering the abundance of

financial guidance available, consumers indeed have many options, but leaving parents

out of the equation might mean missing an opportunity for solid, tried and true financial


“Taken together, only slightly more than one-third of respondents would turn to either

parent,” said Gail Cunningham, spokesperson for the NFCC. “Younger generations may

want to reconsider where they seek financial advice, as the data associated with baby

boomers from the NFCC’s 2014 Financial Literacy Survey indicates that the 55-64 age

range has their financial act together in many areas associated with successful money


Consider the following:

• Sixty-four percent give themselves a grade of A or B on their knowledge of personal


• Eighty-two percent pay all of their bills on time and have no debts in collections.

The only age group with a better record (91%) are those age 65 and above.

• More than half (52%) carry no credit card debt over from month-to-month.

• Only three percent are worried about not being able to pay their credit card debt,

and a meager one percent has made a payment that was less than the required

minimum in the past 12 months.

• Seventy-two percent report having savings beyond that earmarked for retirement.

• People in the two oldest age groups, 55-64 and those over 65, contribute at least 20

percent annually toward their retirement savings.

Cunningham also noted that many in the baby boomer generation apparently feel confident

about the lifetime of financial decisions they’ve made. When asked if their money could

talk, 45 percent indicated it would say “we’ve been a successful team.”

If consumers elect to seek advice from a business or organization, it is important to choose

wisely when selecting who to turn to for help. In advance of making a decision, the NFCC

recommends checking with the Better Business Bureau and the state Attorney General’s

office. Also, ask friends or the Human Resource department at work for recommendations.

If you seek advice and answers beyond what your parents may offer, consider reaching out

to a nonprofit NFCC member agency. To be automatically connected to the office closest

to you, dial (800) 388-2227, or for assistance in Spanish call (800) 682-9832. Inquire

about the NFCC’s Sharpen Your Financial Focus™ program which has helped tens of

thousands of people find solutions to their financial concerns. To learn more about what

the program has to offer, visit or

The NFCC April poll question and results are as follows:

If I needed personal financial advice, I would ask

A. Mom, as she’s more financially savvy than Dad =16%

B. Dad, as he’s more financially savvy than Mom = 20%

C. Neither, as I could get better advice elsewhere = 64%

Note: The NFCC’s April Financial Literacy Opinion Index was conducted via the homepage

of the NFCC website ( from April 1–30, 2014, and was answered by

861 individuals.


The National Foundation for Credit Counseling (NFCC), founded in 1951, is the nation’s largest

and longest serving national nonprofit financial counseling organization. The NFCC’s mission is to

promote the national agenda for financially responsible behavior, and build capacity for its

members to deliver the highest-quality financial education and counseling services. NFCC

Members annually help millions of consumers through more than 600 community-based offices

nationwide. For free and affordable confidential advice through a reputable NFCC Member, call

(800) 388-2227, (en Español (800) 682-9832) or visit Visit us on Facebook:, on Twitter:, on YouTube: and our blog:


Ten Personal Finance Principles for Youth

by Admin 4. April 2014 03:15

Though most children form lifelong attitudes about money by the time they finish fifth grade, research shows that only one-third of parents discuss financial issues with their children. Below are 10 personal finance principles that every young person should know.

1. Determine wants vs. needs. It is natural to want more than we need, and peer pressure makes us even more susceptible to frivolous purchases. Practice setting personal financial limits now, and carry that good habit into adulthood.
2. Consider consequences. Unless a purchase is critical, think carefully before buying. When in doubt, wait a day or two. If you still want the item after waiting, then you are less likely to have regrets later. Most importantly, never use shopping as personal therapy.
3. Remember that the government gets part of your pay. Once you start working, you will start paying taxes. “Gross pay” refers to total pay before taxes, and “net pay” refers to what you actually receive. Base your budgeting and spending on net pay, and do not assume that income taxes will be returned to you because you are a student. The amount returned is dependent on total pay earned from all jobs throughout the year.
4. Pay yourself first. For youth, time is your most valuable asset. Start saving now for large purchases later and for your eventual retirement. Deferred gratification is a sign of maturity.
5. Make a budget. Think of a budget as a spending plan, not as a burden. Prioritizing values simplifies planning. When determining your budget, first plan for your needs, then determine what is left over for your wants. A common mistake teens make is buying a relatively expensive automobile that becomes too burdensome to maintain.
6. Use credit wisely. Never charge clothes, food, gas, etc., on a credit card if you cannot pay off all of it at the end of the month. The way you handle credit affects your credit rating, which you need to rent an apartment and buy a car. Your credit rating may even be part of a job screening process. Credit reports also determine the amount charged for utility deposits and the rate of interest charged on loans.
7. Treat your money like a business. Keep records, balance your checkbook, and read your statements thoroughly. Be systematic about checking accounts and credit usage. Take precautions to protect your Social Security number. If you find a mistake, take action immediately. The sooner you tackle a problem, the more likely you will have a successful resolution.
8. Don’t forget about interest. Interest is the amount paid for the use of someone else’s money. When you deposit savings into an account, your bank pays you interest; when you borrow, you pay interest to the lender. Seek a high interest rate for your savings account, and a low rate when borrowing. The interest you pay on a loan can significantly add to the overall price of your purchase.
9. Protect yourself. Purchase insurance to protect yourself from substantial financial loss. To determine your insurance needs, consider the cost of insurance vs. potential loss. Never expect 100 percent replacement value, due to depreciation and deductibles. Remember that multiple insurance claims can increase premiums.
10. Ask for help. Successful personal financial management is a skill sometimes learned through mistakes. Ask a parent, banker, teacher or trusted friend for advice or help if you begin to struggle. It may take effort and sacrifice to regain stability, but it can be done.

This information is provided with the understanding that the Association is not engaged in rendering specific legal, accounting or other professional services. If specific expert assistance is required, the services of a professional should be sought. Provided as a public service by the Indiana Bankers Association.


Do You Have A Will?

by Admin 21. November 2013 06:44



 A recent survey at reports that approximately 35 percent of adults in the United States do not have valid wills. If you are one of these people, make a resolution to take care of this basic responsibility this year. The following are some issues to consider when drawing up a will. But first, seek a good lawyer to help ensure that your estate will be divided as you wish.

Decide Who Gets Your Possessions

When you draft a will, you direct who receives your possessions when you die. Additionally you can use a will to make charitable donations. Your will may also be used to disinherit estranged heirs or to unequally distribute possessions to heirs who have already received substantial gifts.

Without a will, a probate court will decide how to distribute your belongings. You could leave instructions instead of a will, but the court is not legally bound to follow them, and may actually be legally bound to act contrary to them.

Lower Taxes and the Cost of Probate

Probating a will is typically less expensive, less time-consuming and less complicated than probating an estate without a will. That is primarily because in a will you can name an executor who acts without a bond and without court supervision. Most estates are small enough to escape federal estate taxes, but if your estate is over $5 million,

it is imperative that you see an experienced estate-planning attorney.

Decide Who Cares for Your Minor Children

If you do not have a will that specifies who you have chosen as guardian or guardians for your minor children, then the probate court, after listening to testimony of others, will make this decision. Your children could end up in the care of persons neither you nor they would choose. The most commonly chosen guardians are married couples who are family.

Establish a Trust for Your Children

Many people do not know that they can establish trusts for their children in their wills (whether minors or not). You can choose how old your children will be before the trustee distributes their share to them. Until the children reach that age, the trustee can use the assets of the trust to care for your children. Usually the trustee and the guardian are the same person or persons.

Protect Your Business

It is tragic when a family loses its source of business income and employees lose their jobs, because the business owner died without a plan for continuing the business. A good attorney can help a business owner with business continuity planning, and it starts with a well-drafted will.

This information is provided with the understanding that the association is not engaged in rendering specific legal, accounting or other professional services. If specific expert assistance is required, the services of a professional should be sought.


Provided as a public service by the Indiana Bankers Association.


Protecting Against Data Breaches

by Admin 12. June 2012 09:51
The possibility of the average consumer becoming a victim of a data breach grows with each new advancement in electronics. A data breach occurs when sensitive or confidential information—driver’s license numbers, medical records, Social Security numbers, bank or credit card account numbers—is stolen, copied or used by an unauthorized person. In 2004, only one state required businesses to alert consumers if their personal data had been stolen. Since then, legislation has passed in 45 additional states, including Indiana, to ensure that affected consumers are contacted should their personal information be lost or stolen. While news spreads quickly when there is a major breach affecting millions of accounts, large companies are not the only ones that suffer from such thefts. Smaller companies can be compromised by an employee, a partner or an external computer hacker. Prevention Consumers can take the following steps to protect against a personal data breach: • Review credit card and bank statements for fraudulent charges at least once a month.   If there is a suspicious charge, contact your financial institution. • Request that your financial institution close any accounts that you suspect were compromised, and ask for replacement cards with new account numbers and PINs.   • Determine if there have been unusual requests, such as change-of-address or attempts to secure additional or replacement credit cards.     • Instruct the card issuer not to honor any requests regarding your card without your written authorization.   • Credit card issuers offer a variety of e-mail and/or text notices. You can ask for a notice when charges over a certain amount are made, or when your balance reaches a certain level. Follow Up If you have been the victim of identity theft, contact the three credit reporting agencies—Equifax, Experian and TransUnion—to place a security freeze on your account: • Equifax 800-525-6285, • Experian 888-397-3742, • TransUnion 800-680-7289,   Report the identity theft to the police, as you may need to provide a copy of the police report to your bank, creditors and credit reporting agencies. If the local police are not familiar with investigating information compromises, contact the local office of the FBI or the U.S. Secret Service. To ensure that an identity thief has not opened a new account in your name, you should review your credit report. To obtain a free copy of the report, go to If there are any accounts on your report that you did not open, contact the credit bureau to report the fraud and dispute the charges.


Tips to Teach Children Financial Responsibility

by Admin 1. May 2012 10:46

April is National Financial Literacy Month, and your bankers are encouraging parents to take this opportunity to teach your children the importance of
financial responsibility. By making financial education a family priority, children
can learn the importance of budgeting, saving, investing and using credit wisely. The path to financial success begins at home, and children learn best by watching the example their parents set. The following tips are simple ways that parents can provide the foundation necessary for their children to make sound financial decisions for the rest of their lives.

1. Teach children to save starting from a young age. Encourage young children to save their birthday money from grandma, coins they find on the car floor and other money in a piggy bank or a shoe box. Have them count the money at the end of each month to see how their savings grow.

2. Open a savings account for your children. Once your child is older and receives an allowance in addition to potentially earning money for doing household chores or babysitting, take him or her to your bank to open a savings account. Teach your child to set aside a portion of the money they earn every month to deposit into this account.

3. Have your children help manage household monthly bills. Teach your children about paying monthly bills and balancing a checkbook by having them assist with simple finance tasks. For example they open the monthly phone, electric or cable bill and assist with balancing the family checkbook after these bills are paid. Teach them how to budget by using your family expenses as an example.

4. Look for children’s financial literacy programs in your community. Financial literacy programs are often sponsored by local banks, and April is an ideal time to be on the lookout. Also many schools are adding financial literacy components to their

programming. If financial literacy is not being offered in your child’s school, ask the principal if it could be added.


5. Open a checking account for your children. High school students often hold part-time jobs, providing a stream of income that can go into both savings and checking accounts. Now is also a good time to discuss the importance recording every deposit and withdrawal to avoid overdraft fees and other unnecessary charges that can come with a checking account. Help high school students set long-term goals by designating how much money to put into savings, with the remaindering going into their checking accounts.


6. Teach your older children how to create and stick to a budget. Once your children are close to going off to college, they must learn how to budget, as they will soon be doing so on their own. Sit down  and work together to create a realistic budget, including expenses such as renter’s insurance and other less obvious expenditures. Emphasize the

importance of living on less than one’s income and of avoiding debt. Discuss how to responsibly use credit, look for low interest rates, and avoid late fees and interest payments.



Tax-Filing Tips, and What You Should Know About Tax Refund Loans

by Admin 3. February 2012 09:11



It’s that dreaded time of year again: tax-filing season. Throughout January, your employer, bank and other financial entities have supplied you with the documents you’ll need to knock out your 2011 tax return and put the IRS in your rear view mirror for another year.

Before you get started putting all of the numbers in each of the little boxes, or running out to the pop-up tax-preparing business down the street, make sure you follow these tips for a safe, secure and accurate return.

Don’t Get Ripped Off

Tax-filing season is like Christmas for cyber criminals. They often set up dummy websites and send official-looking e-mails, hoping that you’ll fall into their trap. The IRS will never ask for detailed financial information such as PIN numbers, passwords or secret information for credit card, bank or other financial accounts. In fact the IRS never initiates contact with taxpayers via e-mail to request any kind of personal information. Any e-mails that look like they come from the IRS should be forwarded to, then deleted. Do not respond!

Keep More of Your Refund

Many tax preparers offer tax refund loans or other immediate refund programs. Each offer comes with a cost, as the tax preparer takes a percentage of your return off the top for the convenience of getting your refund faster. These offers play upon the assumption that the IRS is slow in issuing returns, but that’s not necessarily the case. Most returns can be accepted by the IRS electronically via the e-file program, which enables your full refund to be deposited directly into your bank account within seven to 14 days.

You Can File for Free

Nearly 70 percent of Americans qualify for free tax filing using software or forms provided by the IRS. If you

earned less than $57,000 in 2011, find out which free options are available to you by visiting

Get IRS Assistance in Spanish

The tax-filing process does not have to be burdensome for Spanish-speaking Americans. The IRS offers resources in Spanish at Assistance in Spanish also is available via phone—to access,

dial 800-829-1040, then press the number 8.

Don’t Forget Your Kids at Tax Time

Having children makes you eligible for many special tax considerations beyond the $1,000 tax credit per child. The money that you spend for someone to take care of your children in order for you to work or look for work (day care, afterschool care, nanny) often is tax-deductible. Also make sure that your tax preparer knows if you have gone through the process of adopting a child in 2011, as many of those expenses can help decrease your tax liability.

Report Those Tips

Although tips might feel like "free money," they are,

in fact, taxable. The IRS is on the lookout for people working in service-industry jobs—where tips are common—who fail to report their tips. Your tax return should include a total of all cash tips you receive directly from customers, or a reasonable estimate of how much you received during the past year. For future years, keep a daily log of your tip income to make sure that you do not over- or underestimate.

Because April 15 falls on a Sunday this year, Uncle Sam has extended the 2012 tax-filing deadline by two days to Tuesday, April 17.

This information is provided with the understanding that the Association is not engaged in rendering specific legal, accounting or other professional services. If specific expert assistance is required, the services of a professional should be sought. Provided as a public service by the Indiana Bankers Association.


Money-Saving Tips for the Holidays

by Admin 20. December 2011 05:13


The winter holiday season is almost here. Soon we will be busy with holiday activities—cooking, decorating and socializing. We’ll also be shopping for gifts for family and friends, but unfortunately may overspend. Then in the New Year, when the bills start rolling in, reality and regret will strike.

Here are some tips on how you can enjoy the season without inducing an overspending hangover in January.

  1. Make a list of everyone on your gift list. Try to limit it to close family and friends, and set a maximum amount to spend for each recipient. Calculate this total; if too high, revise the individual limits to keep the total reasonable.
  2. If you have overspent already, review the list to see where you may be able to give meaningful gifts without spending. Consider giving personal "coupons" for specific chores—for example lawn mowing, babysitting, cooking a meal or hand car washes.
  3. While some people enjoy the hustle and bustle of shopping malls, you may prefer to stay home and shop online, which saves on travel expense. To maximize the value of virtual shopping, look for free-shipping promotions. Another option is to check with nearby retailers to see if they can save you on shipping costs if your item is shipped to the store, instead of to your home address.
  4. Many people use credit cards for their holiday shopping in order to increase frequent flier miles and other rewards offered by their credit card company. There are benefits to this strategy, but keep in mind that will need to budget for the charges arriving in January; they will need to be paid off to avoid incurring large credit card interest.
  5. You might opt to use cash for Christmas shopping. Decide on an amount for each person, total the amounts, and take cash from your checking account. Divide the cash into your predetermined amounts for each person, and place the cash in envelopes with each person’s name and amount on the envelope. Take these envelopes with you on your shopping excursion. Stick with your list, and when the cash is gone, it’s gone.
  6. With social media outlets such as Twitter and Facebook, you also may be able to find additional money-saving coupons and discounts.
  7. If you have adequate storage space, one of the best times to do your Christmas shopping is in January, when retailers are clearing out their merchandise from the holidays. Along this line, think of shopping for stocking stuffers during the year, as these trinkets can become costly if bought during the holiday rush.

To make the most of your holiday season, sit back and take a moment to enjoy the meaning of the season and the opportunity to gather with family and friends and all those you hold dear. Then take a deep breath, and shop wisely.

This information is provided with the understanding that the Association is not engaged in rendering specific legal, accounting or other professional services. If specific expert assistance is required, the services of a professional should be sought.

Provided as a public service by the Indiana Bankers Association.



Can Reverse Mortgages Benefit All Americans?

by Admin 27. October 2011 06:32


 If you are among the first wave of baby boomers celebrating a birthday this year, or if you are concerned about the well-being of a loved one who has reached the age of 62 or older, you likely have heard about the reverse mortgage as an option in financial planning for retirement. Reverse mortgages are a major topic of conversation for financial planners, home health care professionals and CPAs across the country. In the last 10 years, reverse mortgages have grown into a multibillion dollar industry, with senior homeowners taking out nearly 80,000 such loans during the last fiscal year. Moreover, boomers continue to balloon the size of the over 62 demographic set and will continue to do so until 2030, when all boomers will be age 65 or older.

What is a reverse mortgage? It is a mortgage that allows senior homeowners, age 62 and over, to convert a portion of their home equity into multiple of payment streams without having to sell their home, give up title or take on a new monthly mortgage payment. The reverse mortgage earns its name because the payment stream is “reversed.” Instead of making a monthly mortgage payment to the lender, as with a traditional mortgage, the lender makes payments to the borrower in monthly, lump sum or line-of-credit payments, while the borrower can repay the loan at any time without penalty. Traditionally the loan is not repaid until the house is sold or at the time of the surviving borrower’s death.

But is it a safe option for seniors? The Housing and Economic Recovery Act of 2008 passed by Congress added new standards and requirements, resulting in considerable improvements to the reverse mortgage program. The new provisions greatly benefit senior homeowners who wish to access part of their home equity to help sustain their retirement. Reverse mortgages have a plethora of consumer safeguards and are the only financial product to require independent, HUD-directed counseling. Federal law requires that consumers be thoroughly counseled—prior to loan application—on the pros and cons of reverse mortgages and their competing financial options. It is generally recognized that a reverse mortgage is one of the most consumer-friendly mortgage loans available. Reverse mortgage lenders understand that senior homeowners want to responsibly borrow and stay in their homes. They also appreciate that consumers want to understand their loan documents with complete confidence. Consumer complaints about reverse mortgages are rare, and numerous surveys show that many reverse mortgage borrowers believe this product has improved their lives and provided them the money and security needed for retirement.

While this particular program does not fit the needs of all Americans, having the reverse mortgage option available for those seniors who want to take advantage of it is good for our financial system.

As the U.S. economy comes back full speed, consumers across the country should know that reverse mortgages are a safe, economically appropriate and cost-efficient way to augment their retirement, stay in their homes and live the American dream of homeownership and financial security.

This information is provided with the understanding that the Association is not engaged in rendering specific legal, accounting or other professional services. If expert assistance is required, the services of a professional should be sought.

Written by Scott Norman, immediate past president of the Texas Mortgage Bankers Association and provided as a public service by the Indiana Bankers Association