Saving to buy a home? How much should you save? What will your housing expenses be? When deciding to buy a home or a house, you need to answer these questions to have a better idea and know how much you will be able to afford. You might be saving money monthly now to buy a home in the future. And, now is the right time to plan for those initial costs to buy a home and then have savings for housing expenses that will come later.
Taylor Bean & Whitaker update: About five weeks after being shut down, the fallout continues for some Taylor Bean & Whitaker borrowers whose loans were ported over to Bank of America.
Our Blog is filled with comments from Taylor Bean & Whitaker borrowers who say they have received calls from Bank of America's Collections Department. This interview with Bank of America Rick Simon goes over some of the biggest concerns of Taylor Bean & Whitaker borrowers. We will continue to update on the missing homeowners' insurance payments.
How much should I save each month? That's a question many Americans are pondering in the aftermath of the Great Recession. Some things never change: The more you save earlier in life, the more savings you'll have for retirement. This article includes money-saving tips, as well as a discussion of short-term and long-term financial goals, including saving for retirement. Also included are tips to help you plan our how much you should save each month.
Clark Howard Show Notes - Labor Day 2009: Taylor Bean Whitaker Update; New Mortgage Brokerage rules; Loan modification hell and what to do about it; President Obama's plans to help you save more for retirement; What men's underwear says about the economy; How to Profit from Foreclosure; FREE BOOKS; EBOOK SPECIAL;
Ilyce Glink fills in for Clark Howard on this Labor Day holiday. Are you getting ripped off by your cell phone company? Ilyce gives advice on how to deal with your cell phone company and other customer service lines and call centers. Ilyce took another call from someone who is trapped in "loan modification hell." Listen for her advice on how to deal with a stalled loan modification process. Listen to the podcast here for answers to these consumer and personal advice questions and more. Check Ilyce's blog for show notes and helpful links.
Starting this week, listen to the Ilyce Glink Show at a new time. From now through the end of football season, catch Ilyce live on Sundays on WSB Radio in Atlanta from noon to 2 p.m. Today on the Ilyce Glink Show, Ilyce talked to a caller who wanted to know how to dispute his credit card rate being raised, after he thought he locked in a lifetime guarantee rate of 7 percent. Ilyce also talked about whether or not you have to pay taxes on your debt, and what to do if a debt collector reports old debt as income. We have more updates on the mortgage servicing situation with Taylor Bean and Whitaker. Your comments are coming in, and we're trying to find you answers. See all of the Taylor Bean and Whitaker updates at ThinkGlink.com. For more information about today's show and helpful links, see Ilyce's blog
Ilyce Glink Show Notes: Credit; Texas Consumer Complaint Center; Taylor Bean & Whitaker update; How to Profit From Foreclosure early bird special with discount; VA loan modification; loan modification hell; Clark Howard fill-in tomorrow.
Foreclosure or Short Sale? Which is better for the homeowner and the lender? A homeowner is underwater on her rental property mortgage and wonders if her lender will come after her for the deficiency if she walks away from her rental property mortgage. Lenders are processing so many foreclosures and short sales right now, that it's not likely a lender will spend the money to come after her for the deficiency. Most lenders would also prefer to have the borrower sell the home in a short sale rather than go through the hassle of a foreclosure. The lender can usually get more money through a short sale than they can by putting the homeowner through a foreclosure.
What makes a good credit score? What makes a bad credit score? How do you improve your credit score? Opening new lines of credit, using all of your available credit, making late payments, or not paying in full can all lower your credit score. The easiest ways to improve your credit score include keeping your credit accounts open for a long time, not opening new credit, having different kinds of credit account, and making your payments on time. Ilyce Glink shows how a credit score can be dropped very quickly, but it takes a long time to build up a good credit score. However, it is possible to improve your credit score over time.
IRA penalties for early withdrawals can be avoided. You can withdraw up to $10,000 from an IRA without paying a penalty. But the withdrawal can't be for more than $10,000, there can be IRA penalties for withdrawal. First time home buyers can withdraw money for their down payments without penalty if they are over the age of 59 1/2. However, IRA penalties for withdrawals will be triggered if you withdraw more than $10,000 or you are under the age of 59 1/2. First-time home buyers may want to take advantage of the IRA withdrawal rules, even if they have to pay taxes.
