Mon, September 08, 2008
The Treasury Department's much-anticipated plan to prop up Fannie Mae and Freddie Mac has finally been (mostly) revealed. The move should help a bit to keep mortgage markets afloat, but if you're not sure what all the fuss is about, this short primer should help.
Read the full article
Thu, September 04, 2008
Most financial planners advise their clients to have money set aside in an emergency fund. Occasionally my clients ask me why they need to keep money on hand for emergencies.
If you’re like most Americans, once you’ve paid your credit card bills, mortgage, and your other bills, there’s not much left of your paycheck. If you’re someone who lives far below his or her means (by this, I mean that you have two or three thousand dollars a month or more left unspent from your income every month) you have the capacity to cover many typical unexpected expenses, like the sudden failure of your heating system in the middle of winter. If that's your situation, you’re in a position to cover emergency expenses from your cash flow – unless the emergency happened to be the loss of your job, in which case you’d still be in trouble.
The fact is, though, that few households have large amounts of cash flow that go unused from month to month. Read the full article
Wed, September 03, 2008
As a result of a class-action suit against the Transunion credit bureau, consumers can obtain six to nine months of free credit report and credit score access if they qualify for inclusion in the class. Read the full article
Sat, July 12, 2008
Well, this is a bit creepy. Earlier today I wrote about American Express' arrangement last year with IndyMac Bankcorp and another lender to let mortgage holders make their monthly payments with credit cards. I made a point of saying that IndyMac was still in business. Oopsie - they were in business yesterday, but not today. Read the full article
Fri, July 11, 2008
Many homeowners struggling to keep up with mortgage payments are probably using their credit cards to make ends meet. Now, apparently, people who can't pay their mortgages have a new alternative: they can charge their monthly mortgage payments to a credit card directly. I wish I were making this up, but I'm not. Read the full article
Tue, July 08, 2008
It wasn't that long ago that mortgage lenders were eager to extend credit lines to anyone with a pulse and a property title. Alas, the industry's mood has turned with the swooning of housing prices: frugal caution has displaced wild abandon. Many homeowners, unaware that their lines of credit could be curtailed summarily, have been unpleasantly surprised. Read the full article
Thu, June 26, 2008
The studentloanconsolidator.com blog noted a while back that new rates for Stafford and PLUS loans have been set; these are based on the Treasury Bill auction rates. There's further information in their Stafford loan blog. Starting July 1st, consolidation loan rates will drop significantly. Read the full article
Wed, May 14, 2008
Identity theft seems to get a lot more attention than it used to. I’ve given it my share by writing two client newsletters offering advice on how to avoid ID theft. But this is a topic that holds considerable personal interest for me, as I’ve been the victim of a series of thefts of credit card numbers over the years. Read the full article
Fri, May 02, 2008
What does it actually cost if you don’t pay off your credit card balances each month? What does a credit card purchase cost if you just make the minimum payments? Read the full article
Sat, April 26, 2008
I must confess: I expected the IRS to have a hard time meeting its original schedule for delivering tax rebate checks.
Read the full article
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