The storm which is the first named storm of the 2010 Pacific season caused devastation in Guatemala and neighboring El Salvador at the weekend after dumping more than three feet of rain, officials have reported that Agatha has killed at least 146 people with 53 still missing across Central America.

The sink hole which appeared near a downtown intersection swallowed up an area which was larger than the street of an intersection, locals believe that a poor sewage drainage system was to blame for the sinkhole. It is similar to on which opened up nearby last year and can appear suddenly but are thousands of years in the making, geologists said. As rainwater gradually eats away at the porous rock such as limestone that is beneath the surface it becomes weakened and creates a honeycomb of caverns and caves, these can become packed with mud and it is believed that floodwater may have flushed away that mud, causing the ground above to collapse.

Picture courtesy of horslips5

We were all shocked by the sharp fall in interest rates recently to try to combat the global credit crunch and increase borrowing, but this has a direct effect on savers. Retired savers who had planned to use the interest on their savings to subsidise their income from pensions are starting to look for different options.

The top equity release providers are expecting the volume of new business will rise sharply in 2009 expanding the market by £200 million. The value of the equity release market currently stands at £1.2 billion and it is expected to reach £1.7 billion in 2010.

This increase in people being offered equity release schemes by financial advisors does have its pitfalls as there is a general lack of understanding about how equity release mortgages work. Also the schemes tend to be based on rising house prices, but at the moment the property market is in free fall. So to save you and your family a shock in the future, do plenty of research before making the decision on which route to take.