Consumer Tips

A sobering truth is that older adults are oftentimes the target of costly scams. It makes perfect sense: they tend to have a more robust nest egg. What’s more, they might not know how to go about reporting such a crime, or might be embarrassed to be the target of a fraudster. In turn, they aren’t as likely to report it.

Scams targeting the elderly are rampant and come in many shapes and sizes. Here are just a few of the most popular examples, with tips on how to avoid falling victim.

The “Help Your Friend in an Emergency” Scam

In this scam, also known as the grandparent scam, the con artist will pretend to be somebody you know. They’ll usually reach out to you by email or on social media asking for money, explains Justin Pritchard, a CFP® and founder of Approach Financial. “They might say they’re being held in jail without justification, that they just got robbed and need cash to continue with their trip, or that they need help with emergency expenses,” says Pritchard. Bottom line: They’re in a bind, and need money.

How to Prevent: It’s best to reach out to the person who the con artist claims to be directly, and through a different mode of communication, advises Pritchard. For example, if the scammer send you an email, try calling their phone even though they say they’re out of the country or in jail. “If they answer, you know it’s a scam,” says Pritchard.

If you can’t get a hold of the person, contact other friends and relatives to ask if the story sounds legitimate. Presumably, somebody close to them would know if the person is actually traveling. “If all else fails, start asking questions,” says Pritchard. “Either ask for details, or ask them to verify something that only the two of you know. Whatever you do, don’t offer to send them any money before you reach out to your grandchild, relative, or friend directly and verify their identity.”

IRS Phone Call

In this scam, you’ll get a call with urgent news that you owe taxes. The caller is oftentimes hostile and will toss a litany of threats: jail time or revoking your driver’s license, says AnnaMarie Mock, a CFP® of Highland Financial Advisors. “They might know the last four digits of your Social Security Number, and might even mimic the IRS toll free number on the caller ID,” says Mock.

How To Prevent: The Internal Revenue Service (IRS) will never initiate contact with taxpayers by email, text, phone, or social media, explains Mock. The IRS only sends written notifications through the mail and will never ask for credit card, debit card, or prepaid card information over the telephone. Mock suggests reporting the incident to the Treasury Inspector General for Tax Administration at 800.366.4484 or through the IRS phishing reporting page.

You’ve Won the Lottery

You might receive false notification that you’ve won a lottery prize or sweepstakes. You might receive notice via email, text, or a phone call. You’ll be congratulated, but advised that in order to receive your prize, you’ll need to send money for taxes or a processing fee or taxes.

In some cases, the scam many even continue after you realize you’ve been taken. “Once the individual realizes there’s no reward, a cohort of the original scammer calls, pretending to be an attorney that requires an upfront fee.” In the end, you could possibly be victimized by the same scam twice.

How To Prevent: Don’t be duped. If you haven’t entered a sweepstakes, you probably haven’t won a sweepstakes. Unearned high value prizes are often a sign of a scam. Avoid the “pay to play” sweepstakes, says Mock. If it’s too good to be true, it’s probably not true.

Internet Fraud

Internet fraud is on the rise. In 2018, phishing scams accounted for almost 14 percent of all reported scams, followed by 11 percent from harassment and life threats.

“Phishing scams involve an authentic-looking email, text message, or website that will request financial information like account numbers or credit card numbers,” says Mock. “Scammers can design resources to appear like a legitimate business - or even an institution you have a relationship with already such as your banking institution.”

How to Prevent: Never email sensitive information as it’s not a secure method, advises Mock. And don’t open attachments or click links from unknown senders, as they can contain viruses or malware.

Phantom Debt

In this scenario, fraudsters will contact the victims about non-existent debt. The scammers will ask for a method of payment where they can remain anonymous, like prepaid debit cards or a wire transfer.

“The collectors might have some personal information that appears to be legitimate, but will refuse to answer specific questions related to the debt,” says Mock. “They’ll ask for sensitive personal information and will refuse to provide a phone number or mailing address of the agency.”

How to Prevent: Ask for the caller to verify their name, company, address, and phone number, recommends Mock. “You can even request a written explanation of the debt including all information about the amount, charges, and creditor,” she says. “If you cannot verify, do not provide them with any sensitive personal information.”

Report Financial Elder Abuse and Fraud

Unfortunately, financial elder abuse is widespread and the victims are often not in the best position to protect themselves or get the assistance they need. If you feel that an elderly friend or family member is being taken advantage of, report the situation to the Adult Protective Services agency in your area. You can use eldercare.acl.gov or call 800.677.1116 to connect with the appropriate resources in your community. If you suspect you’ve been a victim of identity theft, contact the local police department or the Federal Trade Commission (FTC) at 877.438.4338.

If you're approaching or have previously entered retirement and need advice and solutions for debt and budgeting issues, Money Management International (MMI) is here to help. Our team of financial counselors can provide information and resources to help you make the most of your senior years..

Jackie Lam is an L.A.-based personal finance writer who is passionate about helping creatives with their finances. Her work has appeared in Forbes, Mental Floss, Business Insider, and GOOD. She blogs at heyfreelancer.com.
 

When selling your home, it’s important to think about your prospective buyers and how you should market differently to each group. Even if you think your home would be better suited for a baby boomer or retiree, you might be surprised to find out your home could be attractive to a single Millennial. Here’s how your Millennial marketing plan might need to be updated.

Highlight Certain Features

Millennials are looking for features that are a little different than baby boomers. For instance, they are looking for:

• Open floor plans
• Ranch style homes
• Media rooms
• Hardwood or tile floors

Where as baby boomers might be looking things like:

• Two-car garages
• Storage
• Large kitchens

If you have these types of features in your home, you should be sure to play them up in your marketing for each group.

Location, Location, Location

Your neighborhood is also really important because Millennials care about convenience. They are looking for a location that offers them easy access to everything and many times location will be the determining factor in a buying decision.

Market Differently

Millenials are heavy online users. When building your marketing plan, think about using social media, websites and mobile technology to reach this audience. Baby boomers are increasingly online, but may be able to be reached in more traditional ways. For instance, word-of-mouth, relationships and newspaper advertising might be a way to target this group.

Be intentional about creating a marketing plan that targets these two very different groups and you will have the best shot at getting these groups interested in your home.

If you’re ready to sell or purchase a home, check out the Union Plus Real Estate Rewards program. You could get $500 for every $100,000 in home value if you use a real estate agent approved by SIRVA.*

Learn what happens in each instance, and how to coordinate your transition.

If you’re buying a home while selling your current house, there’s a good chance your closing dates won’t exactly align. How can you deal with selling your home before buying a new one, or vice versa? 

Here Are Some Ideas:

If You Buy a Home Before Selling Your Current One:

The good news is you’ll immediately have a place to move into, but you may not have enough money saved for the down payment for the new ones.  Some options:

• Tap into savings. Utilize money from savings or non-retirement investments, immediately replacing it once your home sells. 
• Rent your existing home. Use the rent to go toward your old mortgage. With this option, you will still need money for the down payment of your new home. 
• Add a sale and settlement contingency to your contract. This states you can’t close on the new house until the current house sells. If you come away with money from your home sale, you could put it toward your down payment. 

If You Sell Your Home Before Buying a New One:

You’ll know how much you have for a down payment, and it may be easier to qualify for a new mortgage since you’re not carrying debt from your old home. But selling first means you may not have anywhere to live after closing. Some options:

• Stay with family or friends or rent an apartment. 
• Rent-back agreement. You’d negotiate and pay rent to the new owners in order to stay in your home. However, there may be liability issues involved so you may want to discuss this option with an attorney. 

Ready to buy or refinance a home? Contact the loan officers at the Union Plus Mortgage Company, a union-owned company for all your home financing needs.

Buying a new home is not a far-fetched idea when you get the financing and support you need. You
could be well on your way with:

Special benefits for Union members — The Union Plus^® Mortgage program, with financing provided by Wells Fargo Home Mortgage, features access to benefits designed for union families. Keep in mind that extended family (parents and children of union members) may be eligible for certain mortgage benefits.

• After closing on a loan through the Union Plus Mortgage program, you’ll be eligible to receive a My Mortgage Gift^SM award from Wells Fargo - $500 for buying a home or $300 for refinancing your home, for use at participating retailers.¹
• Access to mortgage assistance through Union Plus in times of hardship such as layoff, disability or strike.² 

As little as 3% down — on a fixed-rate loan, and receive $750 off closing costs when you complete an approved homebuyer education course. Even if you’re not buying your first home, this loan option is available to you. A Wells Fargo Home Mortgage consultant will tell you more about the yourFirst Mortgage® option, including loan amount, loan type, and property type eligibility requirements.

Please keep in mind that mortgage insurance will be required, which increases the cost of the loan and will increase your monthly payments. A Wells Fargo Home Mortgage consultant will explain the options available, so you can choose what works for you.

Someone by your side — you’ll have personalized support every step of the way, with guidance and information to meet your unique needs.

A simpler way to apply — with an online mortgage application that offers step-by-step guidance, connects with your financial accounts so you can import information, and allows you to upload documents quickly and conveniently.

If you have any questions about the homebuying process, loan options, or would like a free prequalification, contact a Wells Fargo Home Mortgage consultant today at 1-866-802-7312. We’re here to support you every step of the way. And if you are considering refinancing, Wells Fargo Home Mortgage has options for you too. 

To keep drivers safe, vehicles, tires and equipment can be recalled. Typically, a vehicle manufacturer initiates a recall voluntarily, though you may hear about a vehicle recall as a result of a National Highway Traffic Safety Administration (NHTSA) investigation or a court order. When a vehicle has a safety recall, the manufacturer is required to notify all vehicle owners about it. Your notification letter includes:

• The description of the defect, including any possible resulting safety risks and other hazards.
• The description of how the manufacturer intends to repair the defect, including when repairs can be scheduled and how long they are estimated to take.
• Instructions for what to do if you’re unable to take your vehicle in for service within the specified time.

I Just Received a Recall Notice — What’s Next?

First things first: Don’t delay. When recalling a vehicle for safety reasons, manufacturers are required to fix the problem at no charge. Your manufacturer also can choose to replace your vehicle with a similar model or refund your purchase, accounting for depreciation.

It’s especially important to take immediate action if the safety-related defect could cause significant harm such as:

• Faulty steering components that result in loss of control.
• Accelerators that break or stick.
• Wiring issues that could cause a fire.

What If My Vehicle Is Unsafe but I Haven’t Received a Recall Notice?

The NHTSA evaluates consumer reports of vehicle safety issues. If enough consumers submit complaints about the same or similar issue, the NHTSA opens an official investigation. Here’s how to report safety issues:

• U.S. Department of Transportation’s Hotline (1-888-327-4236).
• Online at safercar.gov.

The NHTSA doesn’t consider all defects safety related. Examples include malfunctioning air-conditioners, body panel rust, and ordinary wear and tear of equipment such as batteries and shock absorbers.

Regardless of whether your vehicle has a safety recall, the NHTSA recommends using its Recalls Lookup Tool at safercar.gov at least twice per year. This tool searches for safety recalls based on your car or truck’s Vehicle Identification Number (VIN).

As a union member, you have access to special savings on auto insurance from SnapQuote^® offered by MetLife Auto & Home^®. To learn more about the program call 1-844-299-6660 or visit snapquoteinsurance.com/unionplus and a team of licensed agents will go to work finding multiple quotes on quality, affordable insurance from national, highly rated carriers. It's fast. It's easy. And puts the power of choice right where it belongs - squarely in your hands.

Many people enjoy the Easter decorations, baskets and gatherings that fill their homes with friends and family. If you have pets, it’s very important to keep them in mind as you prepare for the festivities! Plastic Easter eggs and grass, chocolate, lilies and several other holiday treats can be dangerous for pets if ingested. 

Sharing Food and Treats with Pets

An Easter basket filled with treats is very tempting for some pets. Most pets are filled with curiosity and feel the need to investigate anything new in their environment. Your dog may eat the entire contents of a basket and have the hard pieces of a plastic egg break off and get lodged in their throat. Your cat may chew on plastic grass contained with the Easter basket and cause internal damage when accidentally ingesting.

Please make sure to keep Easter baskets out of the reach of your pets to prevent poisoning or a choking hazard. Children should make sure to keep the baskets in their rooms with the doors closed or parents should keep them up high out of reach.

Easter Lillies

Easter lilies are extremely toxic for cats. Ingestion of even a small portion of the plant can cause lethargy, vomiting, loss of appetite, diarrhea, seizures and even death. It’s really best to avoid this plant altogether if you have a cat, since cats are natural climbers and will be able to access the Lily even if you put it up high.

Ways to Help Your Pet’s Allergies

If you do experience an emergency with your pet outside of your vet’s regular office hours, please contact the Pet Poison Helpline at 855-764-7661 or your local emergency veterinary hospital or center.

If you are a current Pets Best policy holder, you can also utilize the 24/7 Vet Pet Helpline powered by WhiskerDocs. This service is included in all policies.

Learn more about the Union Plus Pet Insurance plan,
powered by Pets Best

It’s always nice to actually make money when selling your home, but some of us aren’t always in that position. Here are some cheap and easy tips for how you can spruce up your home and get top dollar at the closing table.

Do Some Yard Work, First Impressions Count

• Keep the lawn mowed, preferably on the diagonal
• The color yellow sells – plant yellow flowers such as marigolds along the walkway or by the front door
• Wash the exterior windows
• Paint or replace the front door and buy new hardware
• Power spray the house to get rid of dirt and cobwebs
• Buy a new welcome mat for the front steps
• Paint or replace the mailbox

Declutter

• Remove all personal photographs from the tables and walls. Patch holes in the walls or hang non-personalized artwork over the existing nails
• Pack up your bookcase (you’re going to move anyway)
• Clean out the closets and store non-essential items

Clean, Clean, Clean…Your Kitchen

• If new granite is out of your budget, consider either re-grouting the kitchen counter tiles, which is surprisingly cost effective, or covering them with granite tiles instead of granite slab
• For wood cabinets, stripping the finish and re-staining or painting will save you more money than re-surfacing the cabinets
• Buy new knobs and/or pulls for the cabinet doors
• Replace a worn kitchen faucet
• Buy a new kitchen sink basket strainers
• Consider installing kitchen pendant lights over the sink

With these quick and budget-friendly tips, you’ll be on your way to maximizing the value of your home and one step closer to the closing table.

If you’re considering a home purchase or sale, work with a SIRVA-preferred real estate agent and earn cash back after closing*.  Contact us today at 800-284-9756.

Is it really free?

Yes! Over $50,000,000 has been awarded to more than 20,000 students in all 50 states since 2015.

Who can get Free College?

Dues paying union members, active retirees and their families — children, grandchildren, spouses and domestic partners, parents, siblings, and financial dependents. The family member doesn’t have to live with you and there’s no limit to the number of family members who can earn a degree.

How does it work?

Union Plus Free College is a last dollar scholarship program, which means students must apply for and use any federal financial aid. The scholarship will make up the difference between the two. There is no minimum or maximum income requirement and no need for any loans.

Does my union pay for this?

No. Your union membership qualifies you and your family for the scholarship, but no union dues are used for the scholarship.

Will my credits transfer?

Credits earned at Eastern Gateway Community College, a public, regionally accredited college that is part of the University System of Ohio, are transferable. In fact, our students have transferred to nearly 1,000 public and private colleges and universities all across the country.

When can I start?

EGCC starts classes every 5 weeks. Start the process today by completing your online inquiry form. We’ll help you with every step of the process! Call 888-590-9009 or Get Started Online

Find out whether your homeowners insurance policy covers mold removal.

Q. What provisions in a typical homeowners insurance policy covers mold removal? Is an extra premium required?

A. Generally, mold, fungus and dry or wet rot are covered only if they result from damage to something caused by a covered peril. However, if mold starts to grow in your home because of improper or inadequate home maintenance, the policy does not provide coverage.

Your homeowners policy tackles mold issues in many instances. Let’s say you are on vacation when a drain backs up, soaking your carpeting. By the time you discover the damage a week later, mold has started to grow. If your policy has Back Up of Sewer, Drain and Sump Pump Coverage, MetLife Auto & Home pays the costs to repair or replace the carpeting—and clean any mold—up to the insurance limit. In some states, Back Up coverage is optional; in others it’s automatically provided. Check your policy’s declarations to confirm whether you have this valuable coverage and the limit on how much it pays. Various limits, from $2,000 to $250,000, are offered in nearly all states.

The presence of mold makes even the simplest situation complicated; coverages and limits vary from state to state. Contact your MetLife Auto & Home representative for specific answers relating to your policy.

Union members can get multi-policy discounts on home and auto insurance* with SnapQuote® offered by MetLife Auto & Home®. Call 1-855-666-5797 or click to see how SnapQuote can help.

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