Reverse mortgages should have fixed interest rates

Re: "Stimulus package drives demand for reverse mortgages," April 15:

I'm glad to see that the government has considered reverse mortgages in the stimulus package. But still not enough has been done.

This has been one of the biggest rip-offs in the banking business -- and directed at seniors, which is inexcusable.

The biggest problem with the reverse mortgage is not the exceedingly high origination costs, the maintenance costs or the low ceiling on loans, but the fact that there is no fixed interest rate. The approximate rate you quote in your article is 4%, but who knows what the interest rate will be in five or 10 years.

With rates at a historic low, this is an unseemly burden to seniors and their heirs.

Susan Cosgrove

San Juan Capistrano

Make it easier to film in L.A.

Re: "L.A. film, TV shoots in a slump," April 14:

I find it truly amazing that a city with the global reputation as the cultural and entertainment capital of the world is allowing so much TV and film production to slip through its fingers.

We have the greatest source of entertainment talent, skill and resources on the planet, yet our city's leaders are letting other states literally steal this industry.

Forget Obama's "stimulus"; just make it easier to film in L.A. and you'll see a dramatic spike in the economy.

Phil Cooke

Burbank

Wealthy actors should donate

Re: "When charity ends at home," April 13:

Maybe the story should have criticized the wealthy actors who have donated money to politicians instead of helping the actors' home and hospital.

Eleanor Cias

Granada Hills

Estates should go to heirs, not IRS

Re: Michael Hiltzik's business column, " 'Death tax' con refuses to die," April 13:

Obviously, Mr. Hiltzik has little hope for financial success in America. He expresses gladness if only his estate would have $200,000 in taxable assets so that his government could receive 45% of it, rather than his heirs benefiting from his labors.

He goes on to dismiss death taxes as insignificant, representing only 1% of the federal tax take. When the government is spending trillions of dollars in deficits and bailouts, I suspect that that 1% is a pretty healthy annual amount.

My support for the end of death taxes is only based on my success in benefiting from this great country's opportunities and my desire to support my children, who in the present economy are likely to be moving back home in their late 40s.