Freddie Mac says fixed mortgage interest rates edged lower this week after last week's slight upswing. After a slight increase last week, fixed rate mortgage (FRM) mortgage interest rates edged lower for the week ending March 1, 2012. They remain near their 60-year lows, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). Thirty-year fixed [...]
Fannie Mae is asking for another bailout despite raking in billions in 2011, and another could be on the way if Bank of America doesn't pay Fannie Mae what they owe. Fannie Mae is requesting yet another bailout, this time to the tune of $4.57 billion. The news comes with the release of the government-sponsored [...]
A big question asked by lots of employees and job seekers of their current or prospective employers is, “What kind of benefits do you offer?” Many Americans get their health care coverage through their own employer’s insurance plan or a spouse’s group health insurance policy, but for small businesses (those with fewer than 50 employees), [...]
The Two Sides of Interest: Are You Paying It or Are You Earning It? When you hear the word “interest” in a financial context, what comes to mind? Credit card interest? Mortgage interest? Paying interest is certainly a reality for many, and knowing your interest rates is an important part of any plan to pay [...]
It’s safe to expect that you will live 10, 15, or even 20 or more years into retirement. For this reason, most of us know it’s important to save for retirement and to diversify our retirement portfolio. However, relying on Social Security payments and regular savings accounts alone is generally not going to be enough [...]
Strategies for catching up on retirement savings when you're in your 40's. Creating a budget is key to maxing out your contributions. I recently returned to work after being laid off in 2008 and am enjoying the steady paycheck and return to full-time benefits – especially a retirement savings plan. When you’re living paycheck to [...]
The U.S. stock market had another good week, based in part on the announcement of another Greek bailout. The Dow flirted with 13,000 and American investors remain encouraged despite a mixed bag of economic news. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show February 26, [...]
Paying off mortgage early with lump sum cash payment may be a good solution for some, but loss of that cash for emergencies may limit options. Q: I have a certificate of deposit (CD) worth over $70,000. I wonder if is wise to take my CD out when it matures and pay off my house [...]
Bankruptcy discharge of mortgage debt does not release lien on property and payments on mortgage loan may not benefit credit history. Q: We successfully signed a loan modification with our lender two years ago. It took forever to get the loan modification. The problem is that our lender (one of the so-called “big box” lenders) [...]
Closing Costs Influence Decision To Refinance Office Condominium. If the costs outweigh the savings, refinancing is not the right option. Q: I listen to you when I come home from church each Sunday. I enjoy your radio show. I have a dilemma that I would appreciate your advice on. We have an office condo that [...]
