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Loan Modification Scam: Avoid Companies Offering To Help
Q: This past April my daughter and I entered into a contract with a law firm for a loan modification. We paid $3,500 up front and as of yet have gotten only “it’s in the process.” Or they’re asking for …
Selling House At A Loss Might Have Benefits
Q: Can you please help me. I am 32 years old and earn $63,000 a year and invest 8 percent of my salary into my company’s 401(k) plan. I have $90,000 in cash in the bank. I also have a …
How Will Foreclosure Affect My Credit Score
Q: I was recently divorced and bought a home. However, I have a rental property in an area which is quite depressed and where crime has increased. Homes in that area are now selling for about $15,000 and there are …
Buy First or Sell First?
Q: I’m in the process of getting my primary house ready to sell in order to downsize. Its value is around $400,000. I owe about $150,000 on it and have no other debts. I won’t be finished with prepping my …
Seniors: Prepay Mortgage Or Save Cash?
Q: I had written to you a few months ago and never thought I would get a response. To my amazement I was reading your column in Sunday’s paper and my letter was answered by you. I want to thank …
Refinancing Options For Homeowners Underwater
Q: Our home is under underwater. We have a first mortgage with a big box lender for about $450,000 at a fixed rate of 6.5 percent and a second with a different big box lender for $100,000 at a variable …
Prepaying Mortgage Will Reduce Length Of Loan
Q: In one of your recent articles, you addressed the point of making one extra mortgage payment a year to reduce the term of a mortgage. Your response states that doing this will reduce the term of a 30-year mortgage …
Feeling Stressed About The Economy? You’re Not Alone
We’re stressed, relatively pessimistic, and unsure about where the economy going into a Presidential election year. Those are the unsurprising findings from the CredAbility Q2 Consumer Distress Index this week. The latest data reflects an average score of 69.20 on …
Refinancing A Home Equity Loan In Texas
Q: We refinanced and took money out of our home in 2005 with a Texas home equity loan at 7.5 percent. Whenever I ask about refinancing with any one of numerous mortgage companies, I am told that any refinance would …
Compare Investment Options With A Fee-Only Financial Planner
Q: I finally sold my home after 2 years on the market. A couple of months ago, I purchased and paid cash for a new home for about $400,000. I am 70 years old with no debt. I own two …
