An Update On Streamline Refinancing
On this Sunday's show, I talked about how streamline refinancings might be possible. Different lenders are considering this option, which basically allows you to lower the interest rate on your loan without doing a full refinance (or paying the costs associated with a full refinance).
The last time I…
Inheritance: Refinance Parent's Investment House with Kid's Inheritance?
I got a call at the top of the show from a woman who wondered if she should use the $70,000 her kids inherited to pay off her investment property. She'd create a 15-year mortgage and would pay her kids back monthly for 15 years. She figures it's better to pay back her kids at a guaranteed rate of…
Looking For Electronics On Black Friday? Apple's Sale And Dell's
At www.apple.com, the annual one-day Black Friday sale starts at midnight. But if you buy online now, you're covered by the 14-day price protection guarantee, so you'll get the discount back on your credit card.
At Dell, there are a lot of computers on sale. Check out these deals that came in a…
Federal Government Issues Student Loan Announcement
Continuing constraints in our capital markets have posed challenges for students and student lenders throughout the last year. We recognize that education is the foundation of a strong American workforce and we must not let challenges in our capital markets hinder our students' opportunities. Given…
Stock Markets Vacillate, Credit Markets Remain Stuck
The Dow Jones Industrial Average dropped again this morning. It was down another 200 points just before 9am Central time. It briefly rose and then began to fall again.
Peter Costa, a long time trader and CNBC analyst, said this morning that the recession is being priced into the stock market. He…
Hank Paulson's Statement Today on the Credit Crisis
This is unfiltered Paulson October 8, 2008
Statement by Secretary Henry M. Paulson, Jr. on Financial Markets Update
Washington, DC-- Good afternoon. Last Friday Congress finalized and President Bush signed into law the bipartisan Emergency Economic Stabilization Act. The EESA provides the Treasury…
$700 Billion? Are You Serious?
The email was sent out from Treasury at 7:03pm last night. Treasury Secretary Henry Paulson is asking for $700 billion to bail out the bad mortgages still being held by world financial markets.
$700 Billion? Are you serious? It's really more like $1.3 TRILLION already:
Bear Stearns $25 to $50 billion…
College Credit Card Use Can Have Long Term Impact
Credit card debt can pile up fast, especially when you're in college. A new poll says that nearly one quarter of college students graduate with more than $5,000 in credit card debt. One in 10 of those surveyed said they owed more than $10,000. Some students sign up for credit cards on campus, when…
It's been a tough week for the financial markets. The Dow Jones index lost about 3 percent of its value. The stock market is down more than 9 percent for the year (2008), and we're just teetering on the edge of an official bear market (market is down 19.9 percent from its high; 20 percent below the…
Should You File Bankruptcy When You're $7,000 in Debt?
I received a call during my radio show yesterday from an older gentleman who wanted to know if he should allow the local sheriff to serve him or not. He is approximately $7,000 in debt, but he knows he is being served on part of that debt, around $4,000.
"I could avoid the server," he suggested.
"I…
