South Portland Mayor Misha Pride tells seniors to take out a reverse mortgage

[DonGlock26]

As the gov't become more insolvent, they will look at the wealth of the Baby Boomers as a way out.
I don't see the ruling class letting the Boomers keep their wealth or pass it on to their survivors.

 

[Votto]

As the gov't become more insolvent, they will look at the wealth of the Baby Boomers as a way out.
I don't see the ruling class letting the Boomers keep their wealth or pass it on to their survivors.

And when they die, corporations/government takes over their property as their children have no inheritance.

It is what socialism is all about.

 

[DonGlock26]

And when they die, corporations/government takes over their property as their children have no inheritance.

It is what socialism is all about.

You've got it.

 

[1srelluc]

As the gov't become more insolvent, they will look at the wealth of the Baby Boomers as a way out.
I don't see the ruling class letting the Boomers keep their wealth or pass it on to their survivors.

I got mine.

 

[Mac-7]

As the gov't become more insolvent, they will look at the wealth of the Baby Boomers as a way out.
I don't see the ruling class letting the Boomers keep their wealth or pass it on to their survivors.

Is South Portland a sanctuary city?

 

[LeftofLeft]

As the gov't become more insolvent, they will look at the wealth of the Baby Boomers as a way out.
I don't see the ruling class letting the Boomers keep their wealth or pass it on to their survivors.

I’m sure many of these Boomers are Democrats. Now they are learning the painful truth that Democrats take. My advice to them is to take a reverse mortgage, move to a red state and either sell or rent their Portland residence.

 

[Polishprince]

Why don't the old timers just sell their houses and move to a Republican led city that respects them, like The Villages, Florida.

 

[the watcher]

Actually this is the same plan that is in effect for America, selling off the future for a short term kicking the can down the road. These debt limit avoidance and continuing (chronic) save-us emergency spending bills are fundamentally the same as a reverse mortgage, and we will own nothing when the music stops.

 

[Lisa558]

I’m sure many of these Boomers are Democrats. Now they are learning the painful truth that Democrats take. My advice to them is to take a reverse mortgage, move to a red state and either sell or rent their Portland residence.

Then they don’t need a reverse mortgage. Just sell their Portland place and move to a red state.

 

[22lcidw]

A good percentage of the aging have pensions from more than one source and live comfortably and if a couple adding it up are living well. This is money to take from a socialist government. I type this and other things and know this must happen. The real money is from the working class/retirees. Sadly, the way we are going future generations are not as fortunate as some are living now.

 

[Polishprince]

Libs talk about forgiving student loans to get votes. Why don't they help the seniors instead and forgive reverse mortgages?

 

[roderick]

But, but, but liberals care so much about oldsters!

 

[LeftofLeft]

Then they don’t need a reverse mortgage. Just sell their Portland place and move to a red state.

Even better. Hopefully, the market is good for them to sell.

 

[Lisa558]

A good percentage of the aging have pensions from more than one source and live comfortably and if a couple adding it up are living well. This is money to take from a socialist government. I type this and other things and know this must happen. The real money is from the working class/retirees. Sadly, the way we are going future generations are not as fortunate as some are living now.

That’s not true. The majority of retirees have no pension, once you factor out the public sector. Most retirees supplement their SS benefits with some retirement savings. But 40% live entirely on SS alone, with an average payment of $1900 a month.

What will happen is that the socialist government, who places no value on seniors, will focus all the benefits - like giving away large house down payments, “reward” money for producing future workers, extended tax credits, more welfare for single mothers of four and five children, etc., etc. - on the people in their child-bearing years. This will drive inflation higher on the retirees on low fixed income.

The only one proposing some relief for seniors is Trump, who has said he’d like to make all SS payments tax-free.

 

[Lisa558]

Even better. Hopefully, the market is good for them to sell.

I’d say it is. Here’s an old and modest rancher, built in 1956, and approaching $700,000. Bet it sold new in ‘56 for $12,000.

3219 NE Rosa Parks Way, Portland, OR 97211 | MLS #24625181 | Zillow

This 2044 square feet Single Family home has 3 bedrooms and 3 bathrooms. It is located at 3219 NE Rosa Parks Way, Portland, OR.

www.zillow.com

 

[marvin martian]

As the gov't become more insolvent, they will look at the wealth of the Baby Boomers as a way out.
I don't see the ruling class letting the Boomers keep their wealth or pass it on to their survivors.

401k and pension confiscations are coming to the blue cities near you soon (and nationally if marxists like Kamala Harris are in power).

 

[Grumblenuts]

The ignorance displayed here is astounding. They pay little attention to political parties in Maine and this Misha Pride guy is a highly acclaimed estate planning attorney. South Portland is a port city with tons of oil tanks and associated pollution to deal with. Running away won't solve anything.

Per Charter, the political party (if any) of candidates do not appear on the ballot and are not posted here. Candidates are not required to be enrolled in a political party in order to qualify for local office and voters do not need to be enrolled in a political party to receive a ballot.

 

[SassyIrishLass]

Reverse mortgages are a scam. Don't do it

 

[marvin martian]

Reverse mortgages are a scam. Don't do it

He knows that, too. He probably gets kickbacks from the lenders.

 

[evenflow1969]

As the gov't become more insolvent, they will look at the wealth of the Baby Boomers as a way out.
I don't see the ruling class letting the Boomers keep their wealth or pass it on to their survivors.

Well crazy raise in value leads to crazy taxes. You can take a good look at private equity managers for the reason. Black Rock chief among them. I flip houses. I am constantly competing against private equity trying to purchase. I am truly growing to hate them.