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As the FDIC mops up the mess that was once IndyMac Bank, consumers are left with unpleasant images of long lines of worried customers waiting to get their uninsured deposits back. There was approximately $1 billion in uninsured deposits spread among consumers, businesses and nonprofit organizations.- advertisement -

The sad reality for those customers is that they’re getting $0.50 on the dollar for their excess deposits. Anything they get above that will be determined by the sale of IndyMac assets. You can bet many individuals had substantial amounts of money not covered by FDIC insurance and may end up losing at least a quarter of their funds.

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The politics of housing have changed in four years.- advertisement -

In 2004, George W. Bush campaigned on a platform of increasing homeownership, especially among minorities. He wanted the government to insure zero-down payment mortgages. “In changing times, ownership can bring stability to your lives,” Bush told a rally in Michigan.

It turns out that homeownership brought instability to the lives of people who bought houses when they weren’t ready. Perhaps as a result, Bush’s potential replacements aren’t running on a platform of extending homeownership. Sen. John McCain, R-Ariz., and Sen. Barack Obama, D-Ill., both offer proposals to let homeowners keep what they have. They have modest goals, born of the bitter experience of the mortgage meltdown.

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Whether you are just starting out or already in retirement, you may not be comfortable with recent market swings. That means your risk tolerance likely is low. Young investors should try to get accustomed to risk. They can capitalize on down markets by dollar-cost averaging, which enables them to buy fund shares on the cheap. Older investors can mitigate risk by limiting exposure to the stock market and making wise bond purchase decisions.- advertisement -

Bankrate’s article, “Managing retirement savings in down markets,” applies to investors of all ages. Below I offer age-specific advice to help you make savvy decisions about retirement investing under all market conditions.

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Shoved aside by the hot mortgage products of recent years, Veterans Affairs mortgage loans are making a comeback and are a viable financing alternative for veterans looking to secure an attractive fixed-rate loan with little or no money down.- advertisement -

The loans, guaranteed by the federal government, are available through local banks and mortgage brokers around the country.

If you’re an honorably discharged veteran, are currently serving on active duty or have completed a total of six years of service in the National Guard or selected reserves, you are eligible for a loan. Certain surviving spouses of veterans are also eligible.

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Stefanie Powers has been thrilling audiences for over 50 years with her looks and talent.- advertisement -

Although she appeared in feature films, including “Stagecoach,” “The Interns” and “McLintock!” it’s her small-screen credits that have brought her worldwide recognition: “The Girl From U.N.C.L.E.,” “Deceptions,” “The Burden of Proof” and, of course, the ’80s hit, “Hart to Hart.”

At age 15, Powers, who was born in Hollywood, was signed to a movie deal with Columbia Pictures. She married actor Gary Lockwood in 1966, a union that lasted six years. In 1974, Stefanie formed a friendship with actor William Holden that later blossomed into a romance. Holden was passionate about wildlife conservation, co-founding the Mount Kenya Game Ranch in Africa, a game preserve and animal orphanage. After he died in 1981, the William Holden Wildlife Foundation was created in his memory to further animal conservation education and efforts.

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Homebuyers are looking for a steal; home sellers are looking for an out, and homebuilders and banks are selling homes at cut-rate prices. Combined, these conditions have triggered a wave of lowball offers to buy homes in distressed U.S. housing markets.- advertisement -

Conventional wisdom claims that lowball offers don’t work. Homebuyers are warned not to “insult” sellers, who are counseled not to counter offers from “disrespectful” buyers. Real estate salespeople are stuck in middle, oftentimes unwilling to engage in prolonged negotiations that might not earn commissions.

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Yes, Jennifer Love Hewitt does see dead people — every week in the hit CBS show the “Ghost Whisperer.”- advertisement -

“Love” as she is known to friends and family, has enjoyed a long and fulfilling career with roles in “I Know What You Did Last Summer,” “Can’t Hardly Wait,” “The Suburbans,” “Sister Act 2,” and the ABC TV movie, “The Audrey Hepburn Story.”

Other small screen projects brought her into millions of American homes, including “Party of Five,” “American Dreams,” “Time of Your Life,” and the current “Ghost Whisperer.”

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The new old paradigm
CLTs began more than 30 years ago to preserve aging housing stock and revitalize blighted urban neighborhoods in the Rust Belt. Today, it’s the high cost of housing that is driving renewed interest in these little-known tools for more affordable home ownership.

“It’s one of those really well-kept secrets that shouldn’t be,” says Glen Gilbert, executive director of the National Community Land Trust Network, the 2-year-old CLT trade association.

Unlike traditional land trusts, which typically seek to preserve raw land, the goal of CLTs is to encourage owner occupancy and seed investment. CLTs are often promoted as a way to maintain sustainable, affordable neighborhoods for people like teachers, firefighters, policemen, public employees, service workers and other lesser-paid but vital members of the community.

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Not long ago, no-down payment loans were the height of fashion for homebuyers. But now that lenders have tightened their standards, borrowers once again are expected to “put some skin in the game,” to use the industry’s favorite catchphrase. That “skin” refers to the borrower’s own cash, and it means down payments are definitely back in style.- advertisement -

The chief advantage of a down payment today is simply the ability to qualify for a loan, since only a handful of so-called “zero-down” loan programs still exist. Yet down payments have other benefits, too.

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To kids, summer camp is nothing more than canoe trips, swimming and making new friends, but to parents, it is no vacation for the wallet. Camp costs can add up quickly if parents aren’t careful when making choices of where to send their children during the hot summer months. - advertisement -

Peg Smith, chief executive officer of the American Camp Association, says summer camps are not looking to break your piggy bank.

“Most camps won’t put you in a situation where you get nickeled and dimed for everything that comes your way,” she says.

However, it’s important to know what camp will cost you — from tuition to special fees for trips and amenities.

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One of the few silver linings to the rising cost of energy is that Uncle Sam has greater sympathy for you and will kick back some money if you purchase certain energy-saving products.- advertisement -

The Energy Tax Incentives Act of 2005 kicked in Jan. 1, 2006, and includes incentives to make your home more energy efficient and to give solar a try. They come in the form of tax credits, reducing federal tax bills dollar for dollar. Unlike many federal programs, they are not phased out for higher incomes.

The most generous credits are available for those who add solar water, heat or power to their homes. This tax break runs through 2008.

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Day trading was his mistress
Hayden sees many forms of financial infidelity in her practice, most of it harmless — at least at first. She says women in particular are often advised to keep a secret stash of cash on hand “just in case.”

“There’s a Yiddish word, ‘knipl,’ for little pots of money that have been used over the years by women,” she says. “That’s why when you clear out the house of an old woman, you go through all the pockets of all the coats and look through all the important books like the Bible, because there are little pots of money everywhere. Somehow, there is the illusion of safety if I can tuck away a $20 here and a $50 there.”

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Delta Burke may always be remembered as the feisty Southern belle, Suzanne Sugarbaker, in “Designing Women,” for which she received two Emmy nominations for best actress in a comedy series.- advertisement -

But Burke has also been giving the fashion industry a reality check with her Delta Burke Design clothing line that allows plus-sized women to look radiant in trendy clothing.

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1. Surrender the policy back to the insurance company for its cash value.

2. Let the policy lapse, possibly making all your premium payments worthless.

But now there is a third option: selling the policy to an entity other than the insurance company that issued the policy in a transaction called a life settlement. The life settlement company continues paying the premiums and receives the death benefit when you die.

Life settlements grew out of viatical settlements, which bloomed in the 1980s as a way for AIDS patients and other terminally ill policyholders to tap into some cash before they died.

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Before she appeared on the screen in 1998’s “Permanent Midnight” and mesmerized us as a barkeep/beer mistress in 2000’s “Coyote Ugly,” Maria Bello had been contemplating a career in law. In fact, she co-authored a book with one of her law professors on peace and justice education.- advertisement -

Raised in suburban Philadelphia in a blue-collar family, the 41-year-old actress attended Catholic schools and graduated from Villanova University, where she studied political science. But it was a fortuitous choice of “acting” as an elective course that put on the course to Hollywood.

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Barely a day has gone by during the past several weeks without a mention in the news of the FDIC, the agency that is best known for handling the disposition of the assets of failed banks and making sure consumers receive their insured deposits.- advertisement -

To date, failures due to the current crisis in the financial world haven’t caused undue concern. But the size of some of these institutions, such as IndyMac, have some people wondering how much the FDIC can handle before it needs a bailout.

The FDIC doesn’t receive any tax dollars; instead it’s funded by the premiums paid by banks and thrifts for insurance coverage on deposits. Its deposit insurance fund is really just an accounting entry with the Treasury Department.

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What’s the toughest money question? It’s the one that can’t be solved with a calculator, or even by a smart accountant.- advertisement -

In fact, you may need the combined insights of a family therapist, psychologist and financial planner to find the answer when someone asks: “I need money. Can you help?” You want to help. But should you? And if so, how and how much?

With millions struggling to hang on to their homes, and lenders tightening their standards, more people than ever are approaching family and friends for cash.

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Homeowners and lenders aren’t the only losers in foreclosure. Mortgage insurers have a lot at stake, too — and they do a variety of things to keep people in their houses.- advertisement -

In some cases, mortgage insurers kick in cash to help borrowers catch up on their house payments. One company doesn’t even ask for the money back.

Mortgage insurers do plenty besides writing checks, though. Their other foreclosure-prevention tactics include:

Partnering with credit counseling agencies to contact borrowers who have fallen behind on their payments.Stationing employees in lenders’ offices to speed up workouts.Calling borrowers directly to negotiate payment plans and modifications.

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Other variables
APR is even more useful when you try to compare loans when there are variables other than the amount of fees. All the examples above are calculated with the assumption the fees are going to be paid out of pocket and not included in the loan amount.

Let’s say Loan No. 4 was advertised at only 5 percent, but with $300 in fees required. An interest rate 2 percent lower may sound like a great deal. The monthly payments would be lower, at just $85.61, but the new APR would be 73.051.

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As some of Wall Street’s most venerable firms topple, even the most hardened individuals are wondering if their assets are adequately protected. - advertisement -

This week the markets opened with the news that investment bank Merrill Lynch was scooped up by Bank of America, ending its 94-year reign as one of the world’s most recognized brokerage houses. Lehman Brothers, another investment bank, announced its filing for Chapter 11 bankruptcy. This follows the collapse of other financial institutions, most notably Bear Sterns, bought up in March by J.P. Morgan Chase.

Officials and other experts were quick to assure investors that money is safe.

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Seal’s song “Amazing,” from his latest album, System, was nominated for a Grammy for Best Male Pop Vocal Performance. Not too long ago, he performed that song and another, “Wedding Day” — also from System — on “The Victoria’s Secret Fashion Show” on CBS, which was hosted by his wife, one of the world’s most beautiful women, Heidi Klum.- advertisement -

It’s safe to say that after all his years as a recording artist, Seal has carved out a pretty great life for himself. So it’s no surprise when speaking with the London-born singer, who already has three Grammy awards for his 1995 hit “Kiss from a Rose,” that the vibe coming off of him is one of supreme contentedness. Seal is a very happy man, with his career and his family life exactly where he wants them to be.

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The Federal Reserve began to slash short-term interest rates almost a year ago. Yet we have higher mortgage rates now than we had then. What gives?- advertisement -

No single answer explains why some rates have fallen while fixed mortgage rates have climbed from an average of 6.43 percent a year ago to 6.6 percent this week. Among the several reasons, you can sum up the main one in two words: credit risk. Lenders behave cautiously now because they lent recklessly in previous years, leading to a surge of foreclosures.

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When one thinks of “Today” show weatherman and frequent NBC specials host Al Roker, several adjectives might come to mind — friendly, jovial, perhaps even cuddly. But “hard-hitting” is probably not one of them. Well, it should be.- advertisement -

Roker, who will surely further those adjectives when he begins hosting the new “Celebrity Family Feud” on NBC starting July 1, has also produced investigative specials and reality shows on topics from the country’s growing meth problem to the risky lives of DEA agents through his production company, Al Roker Entertainment (formerly Al Roker Productions). Bankrate spoke to Roker about his life and career — a career far more varied than most people realize.

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What it is and when you can enroll
Medicare Part D offers no single “one-size-fits-all” prescription drug plan of its own. Instead, the federal government has opted to subsidize private insurers so that they, in turn, could offer this optional prescription drug coverage to Medicare beneficiaries. These private insurance plans must meet or exceed the drug benefit standard established by the federal government in the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, and they potentially lower prescription drug costs for most Medicare beneficiaries.

The good news is that everyone on Medicare is eligible to receive Part D prescription drug coverage. The bad news is, in order to obtain and benefit from it, it’s up to beneficiaries to take the initiative and select a prescription drug plan on their own and then to review that coverage annually to make sure that it remains the best option for their specific needs. That’s because premiums, deductibles, co-pays and the drugs covered in the plans change from year to year.

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The housing rescue bill, soon to become law, is full of goodies and not-so-goodies for homeowners and those who aspire to be homeowners. Here are some highlights.

First-time homeowner tax credit
The law will extend a tax credit of up to $7,500 to first-time homebuyers. A first-time homebuyer is defined as someone who hasn’t owned a home in three years.

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The tax credit is for 10 percent of the purchase price, up to $7,500, but phases out for higher-income homeowners. Homeowners are eligible for the tax credit if they bought after April 8 of this year and before July 1, 2009.

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