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Archive for November, 2009

Marino on Money: November 25

Wednesday, November 25th, 2009

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Should I consider a reverse mortgage?

Recently, many people over age 62 are considering reverse mortgages. With retirement balances lower than previous years, some seniors are looking for other ways to supplement their income, or pay for medical expenses. As a result, reverse mortgages are becoming a popular choice.

Reverse mortgages allow borrowers to access the equity in their homes without selling or moving away. Borrowers can receive a lump sum, monthly cash payment, a line of credit, or a combination. Currently, the line of credit is the most popular form of reverse mortgage.

The loan does not last forever. When the owner dies or moves away, the loan must be paid off. Fortunately, whoever inherits the home after death may not need to sell the home. That person can keep the home if he or she can pay off the reverse mortgage or refinance the loan.

If you have a financial question for Ross, you can use the Marino on Money page.

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videoBills can pile up this time of year, and that may have you looking at ways to supplement your income. In Wednesday’s Marino on Money, certified financial planner Ross Marino breaks down how reverse mortgages are becoming a popular choice.

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Associated poll

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Wreck on North Kerr Avenue sends one to the hospital

Wednesday, November 25th, 2009

New Hanover County | A man was injured Wednesday afternoon when the Cadillac he was driving was hit by a pickup truck and landed on railroad tracks along North Kerr Avenue.

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Brunswick County Sheriff switches political affiliation

Wednesday, November 25th, 2009

By Shelby SebensShelby.Sebens@StarNewsOnline.com

Brunswick County Sheriff John Ingram jumped ship politically Wednesday, officially changing his party affiliation from Democrat to Republican. He announced the change Wednesday afternoon via a press release e-mailed by his executive assistant and then could not be reached for comment.

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Wilmington man gets a “boost” with a new pick-up

Wednesday, November 25th, 2009

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A Wilmington man has something to be thankful for this holiday; he just doesn’t know who to thank.

Though his kids graduated from Laney High School decades ago, Eddie Parker has continued to be a driving force behind the Buccaneer’s boosters club. In September, Parker got a call from Capital Ford telling him to pick up a new pick-up truck.

Two months later, he still doesn’t know who bought it for him. Parker suspects the replacement for his 1987 F150 was some sort of thank you for his support of Laney High School and its sports teams. He is equally gracious for the anonymous gift.

“I had an old 1987 Ford F150. It ran fair. I didn’t get too far outside of town, but now with the new truck, I can go anywhere I need to go,” Parker said.

From taking tickets to selling hot dogs, Eddie Parker does what ever he can to help out the kids at Laney. And for giving his time, someone is clearly very thankful.

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A Wilmington man has something to be thankful for this holiday; he just doesn’t know who to thank.

Though his kids graduated from Laney High School decades ago…

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Associated poll

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Wrightsville United Methodist Church collects food for local food bank

Wednesday, November 25th, 2009

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Since it is the season for giving, what better time to collect food to help restock the local food bank?

People donated food at Wrightsville United Methodist Church.

A little rain did not dampen the spirits of volunteers who helped unload the cars. Donations included everything from frozen turkeys to baby wipes. All of the donations will help the Food Bank of Central and Eastern North Carolina.

“The food bank here in Wilmington serves 4 counties and in those 4 counties there are roughly 57,000 people that don’t know where their next meal is coming from, and of that, 17,000 are children,” said organizer Jai Isear.

If you would like to make a monetary donation you can go online to www.wrightsvilleumc.org. With $1, the food bank can provide up to four meals.

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Since it is the season for giving, what better time to collect food to help restock the local food bank?

People donated food at Wrightsville United Methodist Church.

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Associated poll

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