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 [...]
Real estate sales are still a problem even as the economy improves and unemployment numbers get better. The economy looks a little stronger. New weekly unemployment claims are falling. More people are going back to work and the GDP is rising. Even consumer confidence took a big jump last month, as a historically warm winter [...]
A First time home buyer who is a student wants to buy a house and use most of his savings to purchase the real estate. Should he? Q: I am a first time home buyer and a 22-year old student who has been pre-approved for a loan to purchase a home. I have about $10,000 [...]
FHA announced Tuesday it will be lowering its refinance premiums for its Streamline Refinance Program, starting June 11, 2012. The Obama Administration is taking additional steps to further stimulate the housing market, according to a press release issued by the White House on Tuesday. The plan is part of President Obama’s overall strategy to support [...]
Three real estate summaries released this week, including the CoreLogic Negative Amortization Report and the S&P Case-Shiller Home Price Index, left me with a poor impression of the real estate 2012 outlook. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show March 4, 2012 on WSB [...]
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 [...]
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 [...]
