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Two officers k!lled as gunmen attack Anambra police station

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Two officers k!lled as gunmen attack Anambra police station

Gunmen attacked a police station in Umunze Police Station in Orumba South Local Government Area of Anambra State, k!lling two officers. 

 

 

It was gathered that the gunmen stormed the station in the early hours of Monday, September 16, 2024, shooting sporadically into the air before forcefully gaining entrance into the facility. 

 

 

The police officers were shot d3ad while some parts of the premises were set ablaze with improvised explosive devices. 

 

 

The spokesperson of the State Police Command, SP Tochukwu Ikenga, who confirmed the incident said joint security forces recovered five unexploded improvised explosives from the scene.

 

 

According to the PPRO, a manhunt for the arsonists and clearance operation on identified criminal camp in the area are ongoing. 

 

“The Joint Security Forces comprising of the Police, Army, Navy, Civil defence and other Security Agencies recover five unexploded improvised explosives and are on the trail of arsonist and armed secessionist group members, who in the early hours of today 16/9/2024 attacked the Umunze Police Station,” the statement read.

 

“The suspected Armed Proscribe Group invaded the Police Facility with improvised explosives, shooting sporadically and fire caught part of the Station.

 

“Unfortunately, two of the Police Operatives on duty during the gun battle in a bid to resist the assailants from causing more havoc, paid the supreme price. Their bodies have been recovered and taken to the morgue.

 

“Meanwhile, the Commissioner of Police, CP Nnaghe Obono Itam, visited the scene, on a spot assessment to reinforce and reassess security deployment, calls on anyone who has any information that will aid the investigation to come forward. 

 

“He also assures utmost confidentiality to any such information in this regard.” 

 

Two officers k!lled as gunmen attack Anambra police station
Two officers k!lled as gunmen attack Anambra police station
Two officers k!lled as gunmen attack Anambra police station

 



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The new Tile Bluetooth trackers have a unique safety feature

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Rita El Khoury / Android Authority

TL;DR

  • Life360 has launched its 2024 range of Tile Bluetooth trackers.
  • The new devices include an integrated SOS feature for the first time.
  • Improved performance and integration with the Life360 app both aim to increase your chances of finding lost items.

As one of the major players in the Bluetooth tracking industry, Tile has been helping users keep track of their belongings for over a decade. Life360, which now owns the Tile brand, just launched its 2024 refresh to the product line, with an integrated SOS feature being one of the most eye-catching upgrades.

This multi-function button that extends the Life360 app’s SOS services is a first for a Bluetooth tracker. It may be a secondary purpose for the devices, but it steals a march on the competition like the Apple AirTag and Samsung SmartTag 2. The addition allows you to discreetly send an SOS signal when you feel unsafe by pressing the Tile button three times, giving the new trackers a personal safety aspect. Location-sharing capabilities have been enhanced for the same reason.

tile bluetooth trackers 2004 boxes

Rita El Khoury / Android Authority

The Tile Mate, Pro, Slim, and Sticker all have new versions in the latest launch, including a redefined aesthetic that’s easy on the eye. Some of the performance metrics have also been improved on the latest devices. The Tile Mate, Slim, and Pro are claimed to now have a best-in-class Bluetooth range, with the Tile Pro offering the ability to register from a distance of up to 500 feet. The Tile Mate, Sticker, and Pro also now feature a louder ring that makes your stuff easier to find amongst the clutter.

Tile’s integration with Life360’s network of over 70 million users has the potential to extend the usefulness of the trackers beyond their Bluetooth range. If an item is lost outside of the user’s personal range, the massive Life360 community increases the likelihood that the item will be found, at least in theory. Tile and Life360 claim that one in eight smartphone users in the US is part of this network.

Life360 also asserts that compatibility across iOS and Android devices has been upgraded. No specifics are given as to which cross-platform issues have been addressed, but users of both operating systems can hope for a more full-featured experience with the latest lineup.

Tile Bluetooth Tracker Life360 App Press Image

The new Bluetooth trackers can now be bought from the Tile website and other major retailers, although the Tile Pro won’t be available until next month. The Tile Mate and Sticker are $24.99, the Slim is listed at $29.99, and the Tile Pro is available for $34.99.

See price at Amazon

Tile Mate (2024) Bluetooth Tracker

Tile Mate (2024) Bluetooth Tracker

Louder ringer
Longer Bluetooth range
SOS alert

See price at Amazon

Tile Slim (2024) Bluetooth Tracker

Tile Slim (2024) Bluetooth Tracker

Ultra-slim
250ft Bluetooth range
SOS alert

See price at Amazon

Tile Sticker (2024) Bluetooth Tracker

Tile Sticker (2024) Bluetooth Tracker

Small and adhesive
Louder ring
250ft Bluetooth range

Got a tip? Talk to us! Email our staff at news@androidauthority.com. You can stay anonymous or get credit for the info, it’s your choice.



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Zelman & Associates’ Alan Ratner

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Alan Ratner, Zelman & Associates managing director, joins ‘Money Movers’ to discuss why a Fed cut wouldn’t impact mortgage rates, his forecast for mortgage rates, and much more.

Janet Dell, CEO of Freeman

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Janet Dell is the new CEO of Freeman, a global leader in events with approximately 5,000 full-time employees and many more contractors. Dell joins a small group of female leaders holding top roles in the events industry. This is the first time a woman has led Freeman in its 96-year history, although Carrie Freeman Parsons has been board chairperson for several years. 

Dell has held multiple roles since joining Freeman in March 2018. In her previous role, she led the company’s long-term strategy execution globally. Coming out of the Covid pandemic, she architected the ramp-up of the team by rehiring 95% of furloughed employees and onboarding over 3,000 new employees. It also posted record revenue growth.

What qualities do you believe make a good leader?

You have to be someone that people want to follow. That begins with trust. You earn trust by listening and responding. It’s a balance of empathy and decisive action. You want to ensure that team members feel heard and can see you driving the business forward with clear, strategic decisions.

How would you define your leadership style?

I’m a people-focused leader. I’m also a sports fan, so I probably think in terms of coaching. How can I enable my people to do their best? At Freeman, our people are our greatest asset, and their input is critical, at all levels. We work to be transparent about how decisions are made, so that people feel empowered to contribute, take ownership, and work through challenges as part of the team.

I’m a huge Dawn Staley fan. She said, “the biggest challenge is to get them to believe in what we’re doing.” That’s where leadership comes in. It’s about inspiring people to achieve more than they thought possible because they share a sense of purpose and a vision for what’s possible. 

What skills have you developed that have helped you grow into the leader you are today?

I’m still working on it. But the three leadership skills I’m really focused on are emotional intelligence, active listening, and adaptability. They are interdependent. 

Emotional intelligence helps me better understand and connect with my team. They need to feel safe about bringing me news I might not want to hear. They need to feel safe about exploring new solutions that are a bit risky. And being responsive to their needs and ideas requires active listening. It also requires flexible thinking. Adaptability has been essential, especially in navigating generational differences and industry changes. It takes all three.

As a leader, what are the challenges that keep you up at night?

We have five generations working side-by-side for the first time in Freeman history. That’s awesome, because these diverse perspectives make us stronger and better equipped to anticipate our clients’ needs and perspectives. But ensuring effective communication is an ongoing challenge, because we know that our people listen with different filters and view the world through unique lenses. We need to be intentional about weighing and leveraging these diverse perspectives, so that everyone feels heard, empowered, and eager to collaborate. 

Another thing I think about is the best way to balance the ongoing digital transformation with operational stability. Obviously, standing still isn’t an option. But we have to orchestrate the impact of evolving technology, like generative AI, while managing how it’s deployed across a multi-generational workforce. That means we leverage our core strength — people — and lean into core values, especially innovation, learning mindset, and empathy.

Which female leaders have inspired you the most?

The most influential female leader in my life has been my mom. As a former English teacher who chose to stay home to raise our family, she approached parenting with the same intensity and passion as a top executive. She held us accountable for our choices while encouraging personal and spiritual growth. Her generosity, forgiveness, and unwavering support have been instrumental in shaping my leadership style and helping me achieve my goals as an executive, mom, wife, and friend.

How has mentoring helped you become the leader you are today?

Mentoring has been invaluable in my personal and professional development. It’s how I learned to see beyond my blind spots. One pivotal experience stands out. I had a manager, Don Bailey, who gave me honest, constructive feedback after my first public speaking engagement. Despite my anxiety, he didn’t just offer reassurance; he helped me map out a path for improvement, pushing me beyond my comfort zone…again and again! This taught me the importance of open communication, trust, and providing actionable feedback. As a result, I strive to be the kind of leader who both challenges and encourages my team members in their professional growth. Again, it comes down to coaching.

Can you share advice for aspiring women leaders in meetings?

First, speak up with confidence. Your perspective matters, so don’t hesitate to share your ideas. Even in tough conversations — especially in tough conversations — diverse perspectives make us stronger as a company and as an industry. 

Second, be prepared and do your homework. Knowledge — understanding what goes into a successful event — builds confidence, earns respect, and gives you the ability to pivot when plans change. Everyone in the events industry knows that we have to adapt when the unexpected happens. We always have to be equipped to think on our feet.

Lastly, stay authentic and be an advocate for yourself and others. Authenticity builds trust and strengthens your leadership presence. Whether it’s taking ownership of your successes (and failures) or championing a colleague, your voice can inspire and create lasting change.



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Clowns With Guns: NYPD Police Officers Shoot 2 Bystanders And 1 Fellow Officer Trying To Catch $3 Subway Fare Jumper

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Source: Douglas Rissing / Getty

According to NBCNewYork reports, two NYPD police officers opened fire against a man who allegedly jumped the subway turnstile to skip out on a $2.90 fare. Upon observing the man, officers followed him onto a platform and ordered him to stop and turn to face them. The unidentified 37-year-old is said to have been argumentative and threatened to kill the officers saying, “I’m going to kill you if you don’t stop following me”.

The report states that the man then entered the approaching train and was chased by the officers who attempted to taser him to no avail. Upon exiting the train while it was still in motion, the man allegedly charged at the officers with knife. In response, the officers fired multiple shots that struck both the alleged attacker and several innocent bystanders including another police officer.

The 49-year-old was hit in the head. A 26-year-old woman, another bystander, also was grazed. A police officer was wounded, too. All shots were believed to be fired by the NYPD, authorities have said.

New York Mayor Eric Adams attempted to spin the narrative about what happened on Twitter and was hit with a community note that exposed his…untruthfulness.

In addition to the fact-checking community note, an independent journalist for The City named Katie Honan posted a tweet explaining the note, “The mayor’s post is community noted because he didn’t mention every person shot on the subway — including one random straphanger in critical condition after being shot in the head — was shot by police.

The 37-year-old attacker is currently listed in critical condition.

Best Gel Moisturisers For Oily Skin & Dry Skin

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Image Credit @ Camilla Akrans for Elle France

Gel moisturisers are like a halfway house between a serum and a face cream, offering the benefits of a moisturiser with the lightness of a serum. Sounds great, right? This is exactly why gel moisturisers are on the rise, especially for those with oily, combination or spot-prone skin. They’re also great pre-workout, and men tend to be a fan of these lighter hydrators, too.

What’s A Gel Moisturiser?

Gel moisturisers are different from other formulas thanks to their unique water-based texture that sinks into the skin instantly, providing hydration without feeling heavy or greasy. They are particularly beneficial for those who want to up their skin’s moisture levels without adding oiliness or causing breakouts. They can also feel soothing and calming on the skin, making them ideal for use after treatments like retinol or exfoliation.

Image Credit @ Camilla Akrans for Elle France

Key Ingredients to Look For

Hyaluronic Acid: This humectant can hold up to 1000 times its weight in water, making it a key ingredient for intense hydration.

Glycerin: This ingredient helps attract and retain moisture in the skin.

Niacinamide: In addition to hydration, niacinamide is used for its ability to improve skin barrier function and reduce inflammation.

Ceramides: These lipids help strengthen the skin barrier and lock in moisture.

Antioxidants: Look out for antioxidants like green tea extract or vitamin E protect the skin from environmental stressors.
Squalane: A lightweight oil that moisturises without clogging pores.

THIS POST CONTAINS AFFILIATE LINKS


Top Gel Moisturisers

SUMMER FRIDAYS | Cloud Dew Oil-Free Gel Cream

This gel cream features three weights of hyaluronic acid along with ceramides and amino acids for plumper, softer skin.

TATA HARPER | Hyaluronic Gel Moisturizer

Ultra-lightweight and hydrating, this formula for oily skin features chia seed water and tremella mushroom.

BYOMA | Moisturising Gel-Cream

An affordable but effective option, this moisturiser contains a barrier-boosting Tri-Ceramide Complex, niacinamide, and green tea.

AVÈNE | Hydrance Aqua-Gel

Perfect for sensitive skin, this cream-in-gel formula uses thermal spring water to lock in moisture for up to 24 hours.


READ NEXT: Moisturisers For Sensitive Skin | My Favourite Moisturisers | The Best Serums

© Wendy Rowe. All Rights Reserved.



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What Buyers Should Know About Fixed-Rate Loans

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Throughout the home buying process, there may be several mortgage-based terms mentioned that are either new or haven’t been part of a familiar conversation for quite some time. One of the most frequently discussed phrases during this time is the fixed-rate loan.

A fixed-rate mortgage is designed to provide consistency with both principal and interest over the entire life of a loan. A buyer can expect to pay the same amount each month, without concern of market conditions and other economic factors. This type of financing is also beneficial when determining and following a monthly budget. As a result, the fixed-rate loan is considered the most popular among current and prospective homebuyers navigating the market today.

Which Fixed-Rate Loan Term Is Best?

Although the monthly payment will remain consistent through the length of fixed-rate loan selected, the term will affect the actual amount. Generally speaking, a 30-year loan term will carry a higher rate compared with a shorter mortgage length; however, the amount of the loan is amortized over a longer period of time, equating to a lower payment each month. Conversely, a 15-year loan term will correlate with a higher monthly payment yet will be paid in a much shorter timeframe. Loan term also affects the total amount of interest paid. Shorter terms are deemed less risky, and as a result lenders usually charge lower interest rates in these cases, amounting to less money being paid overall. On the other hand, more funds need to be allocated to a monthly mortgage payment and can cause liquidity issues with improper budgeting.

Can I Pay More Toward My Loan Each Month?

The majority of residential home loans do not carry a pre-payment penalty and many borrowers choose to make additional payments toward their principal when cash flow allows. As a result, several years may be trimmed from the original loan term. Be sure to check these details with your Mortgage Professional when comparing the best loan option to meet your financial needs.

Is A Fixed-Rate Loan Right For Me?

As with any loan structure, there are several factors to consider before making a final decision. Potential changes to lifestyle, employment opportunities and overall time estimated to be spent in the home are a few variables that should be weighed when buying a home. Our team of Mortgage Advisors is ready to help guide you through this decision and determine the best financing scenario to achieve your homebuying or refinancing needs.

Un lettore: “Lerici Best Tourism Village, un premio che sembra immotivato” – CittaDellaSpezia

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Un lettore: “Lerici Best Tourism Village, un premio che sembra immotivato”  CittaDellaSpezia



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Interview: Acting Coach Terry Knickerbocker and His Process of Coaching Actors Like Daniel Craig and Sam Rockwell

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Terry Knickerbocker is one of the most sought-after acting coaches around, working with actors like Daniel Craig and Sam Rockwell to help them refine and navigate the complex characters they often play.

This is the second time I’ve talked with him and it’s always a huge treat. This time around, I asked him why some big-name actors are hesitant to admit they use a coach and how his insights and techniques help bring out the best in his clients. He also shares stories on his process of coaching different actors, the importance of tailoring his approach to their needs, and why great performances often come from collaboration.

Whether you’re an aspiring actor or just curious about what goes on behind the scenes, this conversation offers a rare glimpse into the craft of acting and the guidance that helps make it extraordinary.

I was listening to a podcast that had Sam Rockwell as the guest and he mentioned working with you. I feel like up until a few years ago, big named actors never really fessed up to having an acting coach. Am I wrong about that?

Terry Knickerbocker: I think it’s still mostly true. Most actors, I think if they’re smart, have a coach, but many of them don’t tend to publicize that as if it would make them seem weak or something. So, I think that is kind of the culture. When people get awards and thank whoever they thank, it’s rare. Although Sam thanked me when he got an Oscar, and that was nice. And Larry Moss got thanked when someone got a Tony. It happens from time to time, but usually we’re sort of secret for some reason.

I know Hugh Jackman has talked about it several times. I love it. I think it just makes them feel more real.

Terry Knickerbocker: Yeah. And especially in film and television, because there’s usually not much rehearsal time, if any. It’s very helpful to have another set of eyes helping you to put together your performance. Ultimately on the day, you’re the one who’s going to be doing it when they say action but what’s the matter with having a coach? And usually, the actor pays for it out of their pocket. I’ve never been paid by a studio, I’ve always been paid by the actor, which means, besides the 10% to their agent and the other 10% to their manager and whatever else goes to their lawyer, they’re paying me some money as part of what they do to get ready.

Are you like a doctor, on-call whenever someone needs you?

Terry Knickerbocker: Yeah, I mean, to a certain extent. I try to be loyal to my regulars… Sam and I have been working together for 35 years, so we go way back. I remember when he was working on really what was his first, I would say, important job, which was an indie film called Box of Moonlight with John Turturro. I was in Thailand on vacation, there was no cell phones. So, I was in a hotel and beeped into my answering machine in New York and heard a panicked message from him saying, “I need your help.” And I arranged through the time zone differences to call him and talk. I’ve also gotten calls from him on set when he was doing Iron Man 2. I think some scenes shifted and maybe he had a scene with Mickey Rourke, I can’t remember. So of course, those things happen, and changes happen.

There are coaches who work on set. I have a colleague, Julia Crockett, who works with a lot of actors and especially works with Sarah Paulson, and she’s on set. That’s their arrangement. I don’t go on set. I mean, I have been on set, but it’s not my usual thing. So, we like to usually just get the work done ahead of time, and then they have a kind of a blueprint for the performance. And then on the day, that’s the blueprint. Then if things change, things change. But they have a roadmap, so occasionally I’ll get a call in the middle of the night, but not too often. [laughter]

When we first talked back in, I think it was 2021, you mentioned that you had just worked with Daniel Craig for Knives Out 2 and I asked why would he need a coach on a role that he was terrific in?

Terry Knickerbocker: That was my question. I don’t know if I shared that at the time but the first conversation we had, and Daniel’s a friend of Sam’s, that’s how we made that relationship, Sam was good enough to recommend me. We’d actually met years before when he came along on a session Sam was working on with me in person. But he called me for Knives Out 2 and we’ve done three other projects since.

But I said, “I love Knives Out. Our family loves Knives Out. I don’t understand, frankly, why you’re calling me. Maybe I’m about to talk myself out of a job because I’d really enjoy working with you, but why would you need me? You figured it out.” And he said, “Well, I don’t want to repeat myself. Obviously, the character is the character, but I always want to be good, and I think you can help me with that.”

And it must’ve been useful to him because he subsequently called me to work on Macbeth on Broadway, and then this movie Queer that he did with Luca Guadagnino, which is going to premiere next month in Venice, and also Knives Out 3, which he’s currently shooting in London. So that ended up being lovely.

He doesn’t need any help from me to tell him how to do Benoit Blanc. He solved that. But we’re really digging into the moments and the arc and really working with the language. Rian Johnson, his scripts are brilliant and they’re just about perfect. But we’re working on how to just be clear on what the moments are about, what the relationships are about, where the climaxes are, and just an outside eye for how to make it super clear and super compelling and super interesting.

When you guys first start working together on a project, what are the first couple things you do? Does he come in already prepared and knowing the character and what he wants to do with it?

Terry Knickerbocker: He definitely knows the character because that’s a recurring character. But yeah, I think he comes with whatever’s most salient for him about why he thinks he needs help. So, when it was Macbeth, I think it was very much for him about, he had an idea about the sexual nature of Macbeth’s relationship with Lady Macbeth. And he wanted it to be really juicy and have that permeate the perfume and the sort of animal thing that is connected to his ambition and is somehow consummated in their physicality together. He wanted to see if that idea could actually be mapped out from start to finish in all the scenes, not just with her, but with Duncan and Benoit and all the other major characters.

I’ll just say one other thing, I have to figure out the language that works for them. Like Sam happens to have studied with the man who was my teacher and mentor, William Esper. That’s where we met. And William Esper was a protege and a student of Sanford Meisner, you’ve probably heard of the Meisner Technique. So that’s the lineage I’m part of. Sam speaks that language, and so we can use all the inside baseball terminology, like particularizations. So, we say, what’s the particularization, how do you particularize that? Or what’s my emotional preparation for this scene? Or what’s an action that I can do? Whereas a lot of actors just think about objectives and don’t think about actions.

I work with Natasha Lyonne, who’s basically untrained. And I can’t go, “Okay, now we’re going to do Meisner work.” That’s my secret navigating compass but I’m not necessarily making them into Meisner actors. I’m finding the language that works. With Natasha, it’s a lot about associations to other actors in other projects. Like I might say, “Oh, this is like John Cazale in Deer Hunter, and that’ll ring a bell for her.

So, I have to find what’s the thing that is their process rather than making them do my process. And that’s interesting.

How long does it usually take you guys to finish? And when do you know it’s done?

Terry Knickerbocker: I really respect Daniel and I really respect Sam Rockwell a lot. I respect a most of the of actors that I work with. Some of the actors I work with are a little more… A little more scrambled with their time management and so sometimes we don’t always get the work done, and it always feels sort of a day late and a dollar short. Daniel and Sam make the time to work on it until it feels done. We typically work an hour and a half to two-hour sessions, and I think the work on Knives Out happened over a month. We might have two of those a week.

With Sam on American Buffalo on Broadway, we worked on that twice because it was supposed to open the March that COVID hit New York, and then it got postponed for two years, and then it got restarted again. We worked on that for a couple months. He’s doing a movie right now with Gore Verbinski and Juno Temple and a bunch of other really great actors out in South Africa that’s just about wrapping that he’s been working on for about three months. We started working on that October of last year until February of this year, on and off. But we might go through the script twice.

I remember with Knives Out 2, we got through the whole script. We sort of work usually sequentially just to get the story arc correct, even though that’s not how they shoot, they always shoot out a sequence, just to get the story arc correct. And then he said, “I want to go back and work on some of these speeches.” We did the same thing with Queer, which is a big movie written by Justin Kuritzkes who wrote Challengers. There’s a lot of action and then there were these longer speeches that Daniel wanted to work on because they were kind of complicated.

So, it’s wherever the actor is feeling it needs a little bit more love, a little bit more attention. The goal is to make them feel that they’re ready and that they have a solid roadmap of what they’re doing in every moment and what all their relationships are about, so that when they get to set on any given day, they have a plan, which if it were a play, would’ve come out of rehearsal.

How detailed is it? Are you guys going line by line sometimes?

Terry Knickerbocker: 1000%, because you need to know what you’re going to do with every line.

Now, it depends on the timeframe, and it depends if it’s film or television. Television works at a different schedule than film. When I worked with Emmy Rossum on Shameless, we did nine seasons. Obviously, she wasn’t the only character, but she was one of the primary characters. She and Bill Macy were the main characters in that show for nine seasons and her role as Fiona grew and they were doing basically an episode a week. And so, we would do all her scenes in about an hour and a half once a week and rough it out, but not get too caught in the details. If that had been a film, we might have spent three times as long on those scenes.

Have you ever worked with an actor who has an idea of the character, and you just think it’s completely wrong?

Terry Knickerbocker: You know, at the end of the day, they’re hiring me. But they’re also hiring my point of view and my expertise. So often it’s not necessarily about a character, but it might be about an approach to a scene or about the vibe of a scene. And it is all a conversation. I’m not the director, so I don’t get to tell them what to do, and even directors shouldn’t really be telling actors what to do. You hired me, so let’s collaborate together and let’s find a point of meeting. But that’s what happens with actors and directors.

But when it comes to me, I’m not the boss. They’re the client. I can offer what I think, I can make arguments for it in ways that where we’re trying to get on the same page, but I will support what they need, what they want to do. And at the end of the day, we may have to agree to disagree, but I would say usually they’re cooperative because I’m pretty good at script analysis.

I want to ask you about your studio, are you still doing both in person and online classes?

Terry Knickerbocker: We’re not doing too many online classes, but we may bring those back because it may be that for some people, that’s what’s useful if they can’t get to New York. During the pandemic from March of 2020 until summer of 2021, we were exclusively online. And then in the fall of ’21, I think, we came back and in person but with masks for a year. And that was a bit strange.

We have a great voiceover teacher named Andy Roth who used to go to a studio with people and then when COVID hit, he kind of went, “Oh, I can actually teach this much better online and the results are better.” But for the most part, we’re just in person. It works better in person. Things like kissing and dancing are a little bit hard to do online.

I do a lot of coaching online. So that’s very doable. There are some people I’ve coached for years I’ve never met in person.

For more information on Terry Knickerbocker and his studio, click here.



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How a Reverse Mortgage Can Enhance Retirees’ Lifestyles

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Retirement is a time to enjoy the fruits of one’s labor, but financial constraints can sometimes limit the ability to fully embrace this phase of life. For many retirees, a reverse mortgage can be a valuable tool to enhance their lifestyle by providing additional financial resources. In this blog, we’ll explore how a reverse mortgage can improve retirees’ quality of life and explain how this financial product works.

Understanding Reverse Mortgages

A reverse mortgage is a type of loan available to homeowners aged 62 and older, allowing them to convert part of their home equity into cash. Unlike a traditional mortgage, where the homeowner makes monthly payments to the lender, a reverse mortgage pays the homeowner. The loan is repaid when the homeowner sells the home, moves out permanently, or passes away12.

There are several ways to receive the proceeds from a reverse mortgage:

  1. Lump Sum: A one-time payment.
  2. Monthly Payments: Regular payments over a specified period or for as long as the homeowner lives in the home.
  3. Line of Credit: Funds can be drawn as needed, providing flexibility.
  4. Combination: A mix of the above options12.

Benefits of a Reverse Mortgage

  1. Supplementing Retirement Income: One of the primary benefits of a reverse mortgage is the ability to supplement retirement income. Many retirees find that their savings, pensions, and Social Security benefits are not enough to cover all their expenses. A reverse mortgage can provide a steady stream of income, helping to cover daily living expenses, medical bills, and other costs34.
  2. Staying in Your Home: For many retirees, the idea of moving out of their long-time home is unappealing. A reverse mortgage allows homeowners to stay in their homes while accessing the equity they’ve built up over the years. This can be particularly beneficial for those who have strong ties to their community and do not want to relocate35.
  3. No Monthly Mortgage Payments: With a reverse mortgage, homeowners are not required to make monthly mortgage payments. This can significantly reduce financial stress and free up funds for other uses. However, homeowners must continue to pay property taxes, homeowners insurance, and maintenance costs12.
  4. Tax-Free Income: The proceeds from a reverse mortgage are considered loan advances and not income, so they are generally not subject to income tax. This can be advantageous for retirees who want to avoid increasing their taxable income34.
  5. Flexibility in How Funds Are Used: The funds from a reverse mortgage can be used for any purpose. Whether it’s paying off existing debts, making home improvements, covering healthcare costs, or even taking a dream vacation, retirees have the flexibility to use the money as they see fit12.

How Reverse Mortgages Work

To qualify for a reverse mortgage, homeowners must meet certain criteria:

  • Age Requirement: The homeowner must be at least 62 years old.
  • Primary Residence: The home must be the homeowner’s primary residence.
  • Home Equity: The homeowner must have significant equity in the home, typically at least 50%12.

The process of obtaining a reverse mortgage involves several steps:

  1. Counseling: Homeowners are required to undergo counseling with a HUD-approved counselor to ensure they understand the terms and implications of the loan.
  2. Application: The homeowner applies for the reverse mortgage through a lender.
  3. Appraisal: The home is appraised to determine its value.
  4. Approval: The lender reviews the application and appraisal, and if approved, the loan is funded12.

Costs and Considerations

While reverse mortgages offer many benefits, there are also costs and considerations to keep in mind:

  • Upfront Costs: Reverse mortgages come with upfront costs, including origination fees, mortgage insurance premiums, and closing costs. These cost are rolled into the loan and paid at time of closing.
  • Interest and Fees: Interest and fees accrue over the life of the loan, which can reduce the amount of equity left in the home.
  • Impact on Inheritance: Since the loan must be repaid when the homeowner dies or sells the home, there may be less equity left for heirs. 

Is a Reverse Mortgage Right for You?

A reverse mortgage can be a powerful tool for enhancing retirees’ lifestyles, but it’s not suitable for everyone. Here are some factors to consider when deciding if a reverse mortgage is right for you:

  • Long-Term Plans: If you plan to stay in your home for the long term, a reverse mortgage can provide financial stability. However, if you anticipate moving in the near future, it may not be the best option.
  • Financial Situation: Consider your overall financial situation, including other sources of income, savings, and debts. A reverse mortgage can be a valuable supplement, but it’s important to have a comprehensive financial plan. Contact one of Luminate Home Loans Reverse Mortgage Specialist to get a comprehensive analysis.

Conclusion

A reverse mortgage can significantly enhance retirees’ lifestyles by providing additional financial resources, allowing them to stay in their homes, and reducing financial stress. However, it’s essential to understand how reverse mortgages work, the associated costs, and the potential impact on inheritance and government benefits. By carefully considering these factors and seeking professional advice, retirees can make informed decisions that support their financial well-being and overall quality of life.

If you’re considering a reverse mortgage, take the time to explore your options, consult with a HUD-approved counselor, and discuss your plans with family members. With the right approach, a reverse mortgage can be a valuable tool for enjoying a more comfortable and fulfilling retirement.


I hope this blog provides a comprehensive overview of how a reverse mortgage can help retirees enhance their lifestyle and the key considerations involved. If you have any specific questions or need further details, feel free to ask!