We hear stories on the news every day about more layoffs and unemployment claims. Right now, more Americans have been unemployed for twenty-seven weeks or longer than has ever been recorded. More than 65 percent of families have been affected financially by the recession, according to the Northwestern Mutual Financial Realities Study published in June. [...]
If your house is worth less than the mortgage amount, you’re underwater with your loan. And that means you could be facing a short sale nightmare. If you want to sell your house, unless you plan to come to the table with enough cash to make up the difference between what you owe and the [...]
What do a bee sting, a dismembered thumb, and electrocution have in common? They’re all injuries that could happen on the job. If you sustain an injury on the job and can’t work because of it, in many cases you might be entitled to workers’ compensation. Workers’ compensation coverage (“workers’ comp”), combined with employers’ liability [...]
Someone recently wrote to TaxMama in despair and desperation — she couldn’t pay her tax bill and her wages were being garnished. She had a long-term tax debt because she hadn’t filed tax returns for two years, and the IRS made up a worst-case tax return. Her husband was disabled and living on Social Security. [...]
Sharon called my radio show a few weeks back. Her real estate broker had taken her to see a HUD home (which is nothing more than an FHA foreclosure). She could buy the house with only $100 down, but she’d have to pay $9,000 in closing costs. The house was priced at just $102,000. Something [...]
Updated September 9, 2019. Natural disasters are forcing homeowners and renters to file insurance claims in record numbers - and for amounts that are astronomical. But, not every claim is being approved. Here's what you should do to prepare for a physical catastrophe caused when a natural disaster strikes. Man-made catastrophes, like fires and crashes, [...]
If you’re unemployed and can no longer afford your mortgage, a new Making Home Affordable loan modification program might offer some relief. The new Unemployed Program (UP) starts August 1, 2010, and it requires lenders to reduce or suspend payments for at least three months for eligible borrowers. It is at the lender’s discretion to [...]
When you think about your insurance needs, you probably think about protecting your valuable assets, like your home and cars. But what about your ability to earn? That’s an asset, too. What would happen if you lost the ability to earn a living? Most of us aren’t in a financial position to be able to [...]
With real estate prices so low, you might be thinking about buying that cabin on the lake you’ve been renting for the past few years. You’ll use it a little and rent it out to folks like yourself. Sounds like a plan, except being a successful vacation property owner is more work than it seems. [...]
Got really nice stuff? Some of your special possessions, jewelry and other valuables covered under your homeowner policy may be severely underinsured, or even completely uninsured. How can you insure jewelry and other valuables? Consider adding a personal articles floater (PAF) to your insurance policies. A personal articles floater is, depending on the carrier, either [...]
