Strategies and Tactics for Grocery Shopping

You can save a lot of money at your local grocery store. Here are several approaches that can help you save.

1) Stick to the grocery list. The grocery store wants you to make impulse purchases. If you make a grocery list at home and stick to it relentlessly, you will not be buying things you don't need.

2) Don't shop hungry or thirsty. If you are hungry when you shop, you will buy more to satisfy your voracious hunger.

3) Abandon brand loyalty. Brands use advertising to attract consumers. Advertising adds to the price of goods. Many private label food items are made in the same facilities as brand name items. Even with a coupon or sale, brand name foods are generally unable to beat store-brand foods on price.

4) Look for the lowest unit cost. Every time you pick up a food item, divide the price by the product weight or number of servings.

5) Clip coupons. Coupons can help you save a considerable amount of money on brand name items. If a coupon can lower the price of a product to the point where it is the cheapest on a per unit basis, then use it to buy the product. You can get coupons off of the internet from sites like www.couponsuzy.com and from manufacturer sites.

6) Shop sales. The weekly sales circulars at the grocery store and in your local paper can be helpful in creating your shopping list.

7) Stick to staples. In good economic times, gourmet foods were an indulgence that made many Americans feel rich. However, in bad times, they simply increase a family grocery bill. To save money, stick to the basic staple items that you really need.

9) Pay with Cash. If you take a set amount of cash with you to the grocery store, you will be forced to stay within the money you have.

Healthy Heart Tips

The economic news is enough to weaken anyone's heart, and it sometimes does with people feeling stressed, eating poorly and cutting out workouts while trying to make ends meet. Here are some basic healthy heart tips:

Eat better; exercise more. Eat a healthy diet, including five servings of fruits and vegetables every day. By cooking simple fresh foods at home, rather than indulging in restaurant fare or fast foods, you can save money and your health.

Don't skimp on health care. Putting off doctor visits, especially when you have symptoms, hurts your health more in the long run, as does skipping medications or splitting pills to cut costs.

Reduce stress. Find a positive outlet -- such as exercise, meditation or the company of others -- to ease stress and improve your health.

Maintain healthy cholesterol levels. Get your levels checked and talk to your physician about the best plan of action to keep your LDL ("bad") cholesterol levels low and your HDL ("good") cholesterol levels high.

Check your blood pressure. Several effective treatments are available for high blood pressure. If your blood pressure is normal, maintain it with a healthy lifestyle.

Irish Apple Pie

1/2 cups all-purpose flour

3/4 cup cake flour

1/2 teaspoon salt

1 tablespoon white sugar

1 cup unsalted butter

3 tablespoons shortening

1/4 cup sour cream

1/8 teaspoon lemon juice

5 large Granny Smith apples-peeled, cored and sliced

1/2 cup white sugar

2 tablespoons all-purpose flour

1/2 tablespoon ground nutmeg

1/8 teaspoon lemon juice

1 egg, beaten

1. Preheat oven to 350 degrees F (175 degrees C). Grease a 9 inch pie pan.

2. In a large bowl, combine flours, salt and sugar. Cut in butter and shortening until coarse crumbs are formed. Mix in sour cream and lemon juice. Keep mixing until dough forms a ball; dough may be slightly lumpy, this is fine. Wrap dough ball in plastic wrap and allow to chill for 1 hour.

3. Once chilled, take dough out of refrigerator and cut it in half; keep one half covered and in the refrigerator. Roll dough to 1/8 of an inch. To lift pie shell, roll dough around rolling pin and then unroll into pie pan. Trim overhanging edges of pie crust.

4. To Make Filling: Place apples into pie shell. In a small bowl, combine sugar, flour and nutmeg; mix thoroughly. Sprinkle mixture over apples. Squirt lemon juice over apples. Place pie in refrigerator while top crust is rolled out.

5. Remove pie from refrigerator. Brush outer edge of bottom crust with beaten egg. Place second crust on top of pie; crimp pie shell edges together. Brush entire top crust with egg and cut 4 steam slots into it.

6. Bake in a preheated 350 degrees F oven for 45 minutes, or until golden brown. Allow pie to completely cool before serving. Serve warm with whipped cream or vanilla ice cream.

Misconceptions About Reverse Mortgages

By Owen Coyle, Market Mortgage

MISCONCEPTION #1: “IT’S TOO GOOD TO BE TRUE”.
THE TRUTH: The money is provided by Fannie Mae and is federally insured by the U.S. Federal Government (FHA). This program is made available from HUD-approved lending institutions. This “Government Insured Program” is 100% safe!!!

MISCONCEPTION #2: “THE LENDER OR GOVERNMENT WILL TAKE MY HOME”
AFTER I DIE”
THE TRUTH: The homeowner remains the owner of the home, title does not change. After the homeowner dies, the home goes to the heirs. The title and the responsibilities of home ownership stay with the homeowners; they must pay the property taxes and homeowners insurance and take reasonable steps to maintain their property.

MISCONCEPTION #3: “I CAN OWE MORE THAN MY HOME IS WORTH”.
THE TRUTH: The homeowner or their heirs can never owe more than the value of the home. Even if you live to be 100, and when you move out, sell your home or pass away, the real estate market is at an all time low, you still cannot owe more than the value of the home. Bankers call this a “non-recourse loan”, meaning that your Reverse Mortgage can never leave your heirs in debt.

MISCONCEPTION #4: “I CAN BE FORCED TO MOVE OUT OF MY HOME”.
THE TRUTH: The homeowner can stay in their home “FOREVER”.

MISCONCEPTION #5: “MY CHILDREN WILL OBJECT TO REVERSE MORTGAGE”.
THE TRUTH: Experience shows that the children are strongly in favor of their parents getting a Reverse Mortgage and enjoying all the benefits it creates. It is a reward for many years of home ownership. The children of every one of my clients were 100% in favor or the Reverse Mortgage.

MISCONCEPTION #6: “IF I HAVE AN EXISTING MORTGAGE, I CAN’T GET
A REVERSE MORTGAGE”.
THE TRUTH: The existing mortgage is paid off with the available Reverse Mortgage funds.

Reverse Mortgage True or False

1. If I get a reverse mortgage, that means the bank holds title to my home. - False.
Title does not get transferred into the bank’s name. Throughout the life of the loan, you own your home.

2. Even though I have done my research on reverse mortgages and fully understand the product, I still have to obtain reverse mortgage counseling. - True.
All programs require independent, third party counseling by an approved entity, which includes HUD, Fannie Mae or Financial Freedom for the Cash Account product.

3. I am not allowed to hold title in my trust. - False.
The lending institutions will allow you to hold title in your trust as long as you meet all of the lender’s and/or HUD’s guidelines.

4. If I decide to sell my home, the bank will make me payback the loan and will collect a portion of the appreciation. - False.
The lender will only collect the amount that is due to them.If the loan balance is larger than the home value, the lender will only collect the proceeds from the sale. You can never owe more than what your home is worth.

5. If I don’t want to pay my taxes and insurance,the lender can set aside a portion of the loan funds and pay them for me. - True.
If you would like to impound the taxes and insurance, depending upon the lender, they can arrange that for you.

6. I must have good credit to qualify for a reverse mortgage. - False.
The lender will run a credit report for tax and federal liens.All recorded liens must be paid off and property taxes must be paid current at the time of closing so the lender can take first position.

7. My house must be in prime condition if I am to be considered for a reverse mortgage. - False.
The lender requires that the home meet certain guidelines. If you are considering a Home Equity Conversion Mortgage, it must also meet HUD’s requirements. You may also qualify for a repair set-aside if work needs to be done on your home. Check with your lender for more information.

8. I am allowed to change my payment plan after the close of escrow. - True.
You may contact the servicing department and make arrangements to change your plan for a small fee.*

9. The only homeowners that get a reverse mortgage are seniors who can’t afford to make their monthly mortgage payments. - False.
We have found that seniors will use the money to go on vacation,buy a new car, remodel their home, pay for their grandchildren’s education, buy another home, or just to feel secure in their golden years.

10. The older I am, the more money I can get from a reverse mortgage. - True.
A senior that is 80 may receive more money than a 62 year old senior. The loan amount is based off of age, home value, and life expectancy.

*For TX, please make sure to check with your lender on current options available.

FAQ for Children and Heirs

1. Will Mom and Dad use up my inheritance?
While tapping into their equity, your parents’ home may be appreciating in value,which could allow for some equity left at the end of the loan. They are also able to live comfortably without having to depend upon family members to support them.

2. Will the bank take their home?
No, the bank will not take their home. Throughout the life of the reverse mortgage, your parents will continue to own their home and retain title.

3. How much money will they owe when the loan has to be repaid?
Your parents will owe the total amount borrowed, accrued mortgage insurance premiums, accumulated interest, servicing fees, and any other costs and fees financed through the loan amount.

4. When do my parents repay the loan?
There are three viable options for your parents. They can sell their home to repay the lender and collect the proceeds, choose to reimburse the lender directly from a personal account, or refinance the loan.

5. What happens to the equity if my parents or I decide to repay the loan by selling the house?
There are two options. Either your parents or the heirs can keep the home and pay the balance due on the reverse mortgage, or they can decide to sell the home and use the proceeds to pay off the reverse mortgage. Either way, the remaininge quity is retained by the owners or heirs.

6. What happens to my mom and dad’s house if they move into a senior care facility?
A reverse mortgage becomes due and payable when the last borrower moves out of his or her home permanently. For instance, moving into a senior care facility, selling the home, passing away or moving in with the children.

7. What happens if the loan balance becomes greater than the value of the home?
The Home Equity Conversion Mortgage (HECM) is a non-recourse loan, which means that the borrower can never owe more than what the house is worth. As HECM borrowers, your parents pay a mortgage insurance premium to the U.S. Department of Housing and Urban Development (HUD). They, in turn, guarantee that the borrower will never owe more than the value of their home when the loan becomes due and payable.

8. What are the risks my parents would be taking in receiving a reverse mortgage?
A reverse mortgage doesn’t affect regular Social Security or Medicare benefits.To find out if it impacts other federal or state assistance or medical programs,contact your reverse mortgage lender, tax attorney, or counseling agency.

9. Are there restrictions on how my parents spend their money?
Your parents can spend their money any way they want. Borrowers have used reverse mortgages to pay for grandchildren’s educations, vacations,new cars, home improvements or to eliminate debts. The money can be used forany thing they desire.

10. Is there any information that provides what all of the fees will be?
The lender is required to provide your parents with the Total Annual Loan Cost, or “TALC” disclosure, which is required by the Federal Reserve Board.The TALC displays the total transaction costs over the projected life of the loan,which will allow your parents to see all costs related to the reverse mortgage.

Valentine Parfait - Recipe

2 1-inch-thick angel food cake slices
3/4 cup fresh strawberries and/or raspberries
1 4-ounce container vanilla pudding
1/4 cup whipped cream or thawed frozen whipped dessert topping
1 drop red food coloring (optional)

1. Place the cake slices on a cutting board. Use a serrated knife to cut the cake into 1-inch cubes. Set aside.

2. If using strawberries, place them on the cutting board. Use a knife to remove the green stems. Slice the strawberries, cutting from top of each berry to the bottom. Set aside.

3. Put the vanilla pudding and whipped cream or topping in a small mixing bowl. Use a rubber scraper to gently stir the whipped cream into the pudding. If you like, stir in red food coloring.

4. Using 2 parfait or sundae glasses, place one-fourth of the cake cubes in the bottom of each glass. Add one-fourth of the berries to each glass. Top with one-fourth of the pudding mixture. Repeat the layers. Serve the parfaits immediately. Makes 2 parfaits.