Monthly Archives: April 2008
Lender Turned Down Refinance
Refinancing may not be the best option to consolidate debt. If you don’t have any equity in your property, you cannot refinance in order to consolidate debt. Mortgage lenders are getting picky about how much cash you can borrow against your equity. These days, they’re not doing 100 percent loans, or anywhere close to that. If you’re in a declining market, where home prices are falling, they might not refinance you if you have less than 5 or even 10 percent equity in your home.
Late Charges For HOA Fees
A condo owner says he’s been late paying homeowners association fees and now owes a late fee. Does the condo owner have any recourse with the homeowners association?
IRS Tax Provisions For Rental Property And Primary Residence
What tax deductions can you take on a primary residence and on a rental property? The IRS does not let you treat a property rental as a primary residence for tax purposes. And what risks do you face if you rent out a property in a homeowners association that prohibits rentals?
Choosing The Right Mortgage Lender
How can you choose the right mortgage lender? Ask friends and family for mortgage lender references, interview the mortgage lender and make sure the mortgage lender does meticulous underwriting.
Call Managing Broker If Trouble With Real Estate Agent
When you’re trying to sell real estate remotely, you may have trouble with your real estate agent. After trying to communicate with the real estate agent numerous times with no success, you may want to contact the agent’s managing broker. The managing broker can hold the agent accountable.
Americans Worry About Becoming ID Theft Victims
A majority of Americans worry about becoming victims of identity theft, according to a poll released by Bankrate yesterday. Of those surveyed, 8 in 10…
Avoid Student Loans At A Junior College
A parent asks about the cost of college tuition and about having a student start at a community college. Because the cost of college tuition is so high it’s a good idea to start out at a less well known school and transfer. When a student goes to a big name school, she may be taking on $50,000 to $100,000 in debt for college (not including graduate school costs). She’ll have a $700 to $1,000 per month headache to deal with after graduation. That’s after taxes, and after she pays for her rent, utilities, cell phone, car, gas and food.
One More Thing…
The Schwab survey also found that 69 percent of parents polled feel more prepared to talk about “the birds and the bees” instead of money.
April 21, …
Who Will Teach Your Kids About Money?
Money must still be taboo in many American families. Only 20 percent of parents involve their teens in financial discussions, according to a Charles S…
Consumers Want Better Gas Mileage
Do you know anybody who doesn’t want better gas mileage? I don’t. But, apparently only 73 percent of those surveyed by the Consumer Federation of Amer…
