Police searching heartless man who left dog in the cold to die

The number of homeowners that are taking advantage of reverse mortgages continues to climb, and that number will only increase in the next several years as Baby Boomers retire and realize that:
a) they have not stashed away enough for retirement, and/or
b) what they did stash away has performed abysmally on the market.

Before you choose to cash in on your home's equity after age 62 in an attempt to find solutions to your cash flow problems, here is a list of the pros and cons of reverse mortgages:

The Pros

- Income from reverse mortgages does not affect Social Security or Medicare benefits in the vast majority of cases

- These loan advances are not taxable, in general

- Most of these loan advances do not have income requirements

- You retain the title to your home

- You can choose to receive the money through a fixed monthly payment, a lump sum, a line of credit or a combination of these options

- Even if you outlive the loan, you will not owe more than its value

- Repayment of the loan is not due until the last surviving borrower dies, sells the home or no longer lives in it as a primary residence (you can live in a nursing home or other medical facility for up to one year before the loan is due, as well)

- If the home is sold and the loan and fees are paid, leftover equity belongs to you and your heirs

The Cons
- Money gained from a reverse mortgage might affect your eligibility for Medicaid

- Fees and closing costs are huge, usually in the $10,000-$15,000 range

- You might incur servicing fees during the term of the mortgage as well

- Any exhaustion of home equity means fewer assets for heirs. This is a particular danger for young retirees who might live well past the time when the loan is gobbled up.

- Borrowers must keep up with taxes, homeowner insurance, maintenance costs and other expenses. If not, the loan becomes due.

- The interest on the loan is not tax deductible, and debt increases over time as interest is charged on the outstanding balance of the loan. The interest rate is variable with most loans, tied to short-term indexes such as one-year Treasury bills, etc.

Anyone considering a reverse mortgage should reflect on the pros and cons above. As with many types of loans, a reverse mortgage is a form of short-term gain that could result in long-term pain if adequate measures to re-pay the loan are not taken. The long-term pain could also affect your heirs if a debt remains after your death.

Prosecutors are considering charges for a man police say left his dog out in the cold to die.

The Indianapolis Metropolitan Police Department said the man admitted he not only left his dog out overnight Tuesday but later tossed the dog's body in a dumpster. Wind chill temperatures dropped to 35 degrees below zero Wednesday morning. Authorities found the dog Wednesday afternoon.

"Just walking up, it was horrific," Kristen Lee of Indianapolis Animal Care Services (IACS) said. "It's heartbreaking. I have a knot in my stomach talking about it right now."

Lee, who is a public information officer for IACS, took photos at the home showing a wooden, outdoor dog kennel with a thin towel over the door. Another photo shows a pile of trash in a dumpster on top of the black pit.

"It breaks you down. But those animals don't have a voice. They're not able to say when they're cold. They're not able to say when they're hurt," Lee said.
There are ways to get cheap home loans these days even with bad credit. This, however, will not be an easy procedure with a poor credit rating. But if you are willing to go through the process, here are some steps to follow. The most important thing is you would be able to get the house of your dreams in the end.

The first step in looking for home loans if you have a bad credit is to go to a trustworthy mortgage broker. He will know all possible means for you to get a home loan given your situation as he has a network of lenders, credit unions, banks and financing companies. He will know which lender would be able to serve you best.

You can also avail of an equity loan. This type of loan is ideal for people with bad credit who wish to avail of a home loan. This type of loan will utilize the house to serve as collateral or security. To qualify for this, the house you wish to avail of should be more expensive than the amount you would like to borrow.

Look for housing programs that offer a rent-to-own scheme. This involves renting the property for a certain number of years prior to getting a loan to buy the same property. You can get a home loan to buy the property if you were able to put up 30% of the total value of the house.

Look for a lease option. This is the same as a rent-to-own scheme where you intend to buy the property after leasing it for a certain number of years. A portion of the lease serves as a down payment. In the lease agreement, the price of the property should be declared. This is a good option for people suffering from bad credit as they will have enough time to clear up their payables as they save money for their down payment of the property.

Stay away from financing companies that offer housing deals which seem too good to be true. Once they find about your situation, they would take advantage of it for their own gain. There are those that will instruct you to pay a down payment or a deposit of $2000 prior to getting approved for a mortgage loan. When you check the house they are offering, you will find it worthless. You have paid a huge down payment and then are left with a mortgage for a valueless property.

You can also ask people you know if they in turn know of anybody wanting to sell their house immediately. There are homeowners that need to sell their house as they may migrate to other places. They may be willing to undergo owner financing where you will pay them every month a certain amount for a specific number of years.

There are many home loans available for people with bad credit. You just need be patient and resourceful enough to look for them. You can also look for such loans through the internet to save you from time and effort. Just remember to be cautious of loans that seem too good to be real.
Animal care workers and IMPD showed up at the home Wednesday afternoon in response to an anonymous tip, but police say the dog had already been dead for hours when they arrived.

It happened in the area of East 10th Street. Officers on Thursday would not reveal the owner's name or exact address.

Police passed the case on to the Marion County Prosecutor's Office but, so far, no one has been charged.

"More than likely, he will be arrested for animal cruelty and abandonment," IMPD Sgt. William Carter said.

Carter said the 62-year-old owner is cooperating with police. He said he owned the dog for 10 years.

"He was warned. People called him," Carter said. "The owner of the property asked him, 'Please take your dog in tonight, and he agreed he would take it in and for some reason he did not.'"

Carter said, under current laws, the dog owner can face a Class A misdemeanor carrying a maximum penalty of a year in jail and a $5,000 fine.

"When you walk up to the house, you want so bad to help those animals," Lee said. "Unfortunately, we weren't there for this one."

In a separate case, investigators found a dog shivering outside another home Wednesday. That dog was taken to a shelter and if police can track down the owner, charges are also possible in that case.

It against Indianapolis ordinance to leave a dog out for extended periods when the temperature is 20 degrees or colder.

[This post contains video, click to play]
One of the more difficult processes in life is buying a home. The average consumer is not going to simply walk into a real estate office and put money on a home and simply move in. There is a great deal of process that is involved with buying a dream home, even if you're an experienced and savvy consumer. If you are not sure how to choose the best mortgage broker or even how the system works, consider this as a quick guide to assist you on your quest.

The first thing that you should do is look around your circle of influence. Ask your friends, look for reviews online and just do some homework. Don't just go with a broker that is flashy and has billboards and ads all over your city. Make sure that you take your time and calculate different names and companies that you might be interested to work with.

If you're at wits end or you simply don't know where to turn, consider looking for a local financial advisor's office. That also includes tax preparation offices, and anyone that has to deal with financial aspects of business. You'll find that the financial options that are out there will help you move forward with knowing who to choose and where to go for the best possible assistance with purchasing your next home.

Performing an online search for a mortgage broker in your area will help you find their local websites. From these websites you can learn more about the company and the agent's mortgage qualifications. Another great option to consider is calling a small list of brokers that you find in your area from those online searches. When you call, make note of how friendly they are and what type of information they give you. You are essentially going to trust the broker with your dreams, and hope that they can somehow show you a home that you will live in for 15 to 30 years, and that requires a bit of trust. Trust is hard to come by via a phone call, but you can try your best instincts when you speak to someone on the phone.

After you have spoken to a few companies and brokers, meet them in person and see how they can help you. Much like you will shop around for a home, there is nothing wrong with shopping around for a good broker for your overall needs. Always make sure to take your time with financial decisions, and that starts with the real estate agent, the company you want to get your mortgage from and so much more. If you're serious about learning how to choose the best mortgage broker, take some time to weigh your decision, and do not be hasty in any way.

For more information on finding a Utah mortgage broker, or to find the best mortgage broker in Utah.

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