Boomers More Likely To Carry Mortgage Debt Into Retirement

Massachusetts elder law attorney John Gosselin was heavily quoted in a Banker & Tradesman article discussing Boomers likelihood to carry more mortgage debt into retirement. A Mortgage After Retirement Isn’t A Problem – It’s A Plan By Jim Morrison | Banker & Tradesman Staff Baby Boomers are more likely to have a mortgage when they retire than the generation born between the mid-1920s and the mid-1940s, according to new research from Fannie Mae. While that trend worries some economists, other experts say post-retirement debt can be a smart move. “The increasing prevalence of housing debt among older homeowners could compromise Continue Reading

IRS Now Allows Private Debt Collectors to Dun Taxpayers

In a move that could be confusing to seniors who are vulnerable to scams, the IRS will begin using private debt collection agencies to collect past-due taxes. The new program will begin in April 2017.Authorized by a law Congress passed in December 2015, the IRS may now contract with private debt collectors to collect certain debts. The private collection agencies can work on accounts in which the taxpayer owes money, but the IRS is no longer actively working on the account, perhaps because the account is older or the IRS does not have resources to continue pursuing it. Historically, scammers Continue Reading