Consider refinancing your mortgage with your lender, but if you do not receive prompt attention seek out a different lender to refinance. Q: We would like to refinance our home. My husband’s pay was cut by more than half. We currently have a 6 percent 30-year fixed rate mortgage. We have not missed a payment [...]
Withdrawal Sequencing Strategies: Excerpt from The Smartest Money Book You’ll Ever Read Dan Solin is out with a new book, “The Smartest Money Book You’ll Ever Read,” in which he answers some of your top retirement and retirement strategy questions. Most people have their retirement funds in various accounts—401(k) plans, IRAs, annuities, taxable accounts, and pensions. The sequence in which [...]
As more homeowners are struggling with buying a home, selling a home, or facing foreclosure, they’re more at risk for a loan scam. Watch out for these red flags for home loan and mortgage loan scams. If people are desperate, they will be willing to give money to someone that is selling an idea [...]
With plenty of resistance from the Federal Housing Finance Agency (FHFA), the question this week when we consider real estate 2012: will banks finally mark to market? Is principal reduction finally on the way for struggling homeowners? And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show [...]
The latest Freddie Mac bailout will cost $146 million, according to the company's latest financial results. Here’s some news that comes as a surprise to no one: mortgage giant Freddie Mac needs another bailout. According to the fourth quarter and full-year 2011 financial results released Friday, Freddie plans to ask the Treasury for an additional [...]
Lots of homeowners are struggling through the real estate recession—their home values have been slashed, their mortgages are underwater, they’ve lost jobs, and they can’t pay their mortgages. Sound familiar? These homeowners are facing foreclosure or are attempting a last change loan modification—and they’re getting desperate. The next year doesn’t seem to be looking any [...]
Who Pays For a Home Inspection Report When Buying A Home if the report is then used by a subsequent buyer and that buyer benefits from its use? Q: As a short sale buyer, I paid for the well and septic inspections on a home. During the walk through, the seller casually disclosed the well [...]
Should you keep your cash safe or invest your money in your 401(k) or Roth IRA. Where should you invest your money given recent events? Q: With interest rates as they are and investments frequently losing money, does it make sense to fund my Roth IRA? Also does it make sense to continue to put [...]
Bankruptcy may cancel your debts and obligations, but secured lenders keep their debts alive in their mortgages and foreclosures may continue. Q: Due to my cancer diagnosis, and subsequent expenses, my wife and I filed bankruptcy in 2010. Just a few days ago we received a 1099-C from the second mortgage holder indicating they had [...]
The necessity of avoiding an IRS tax audit can make the process of filing taxes feel like a minefield. Here are some tips for claiming the right tax deductions, avoiding fraud and hopefully, a tax audit. The tax season is in full swing. There's no sidestepping it. It was American founding father Benjamin Franklin who [...]
