The government cannot "steal" an investor's 401k and brokerage account assets in order to pay off debt. These are investment misconceptions. Q: On Ilyce’s radio show this past week, she took a call from someone who asked what worries her about the economy. She talked about the upcoming presidential election, among other issues like the [...]
A person can help pay his monthly bills and avoid over-extension by going into foreclosure, doing a short sale or considering bankruptcy. Q: I will try to make a long story short. I have credit card debt of about $12,000, a car loan of $20,000 and a ton of mortgage loans. I owe $156,000 on [...]
Mortgage interest rates are at historic lows during economic and political uncertainty. When the world's economies stabilize, mortgage rates may rise. Mortgage interest rates dropped again this week, hovering near all-time lows, according to the Freddie Mac weekly primary mortgage market survey. This week, the 30-year fixed-rate mortgage averaged 3.55 percent, with an average 0.7 [...]
Homeowners may qualify for the Home Affordable Refinance Program (HARP) if they fail to get a HAMP (loan modification) from their lenders. Q: Long story short, my house is underwater. I am currently talking to my mortgage company for a HAMP or HARP. I collect Social Security disability as my only source of income. My [...]
Prevent further hurt to your credit history and credit score by continuing to make mortgage payments to your bank during a short sale. Q: I lost my job in Atlanta, but I have been offered a position in another state. I am currently working with a real estate company trying to sell our home. I [...]
When a home equity line of credit (HELOC) stops a person from refinancing, they should pay off or pay down the HELOC so they can refinance. Q: I recently attempted to do a FHA streamline refinance and was denied because I have a home equity line of credit (HELOC) that is maxed out. The lender [...]
The percentage of American homeowners is the lowest it has been in nearly 50 years. Home prices are rising due to investors buying homes. How many Americans own their own homes? It depends on how you count. The officially tally is about 65.5 percent. But according to Sean Fergus, a manager with John Burns Real [...]
We're into year six of the Great Recession years. Money and real estate have never been more entwined, and for some, more frustrating. Homeowners in the housing market have been challenged in historical ways. Investment and the credit crisis have made an impact as well. And as usual, providing personal finance advice, real estate advice [...]
The Patient Protection and Affordable Care Act, otherwise known as its more politically charged name, Obamacare, has been in effect since 2010. But the cornerstone portion of the legislation, the individual mandate, was on shaky ground until the Supreme Court upheld its constitutionality this summer. So what does the Affordable Care Act (ACA) mean for you, [...]
The kitchen is often the heart of any home, and most homeowners are constantly seeking ways to improve the look and functionality of that space. But a full-blown kitchen remodel can be lengthy, disruptive, and expensive. The average kitchen remodel costs $26,000, according to the National Kitchen and Bath Association. While nice kitchens tend to [...]
