Ask The Money Coach

By Lynnette Khalfani-Cox, The Money Coach

With negative economic headlines continuing to dominate the news, you could be excused for mistakenly thinking that 2009 is going to be, in a word: terrible.

But the truth for many individuals and families, employees and business owners alike is that 2009 could very well shape up to be a year of great financial opportunity and – dare I say, it? – prosperity. At the very least, you can take heart in knowing that big changes are looming for many personal finance arenas, which could mean a huge economic bonanza to you, your family or your business.

In 2009 you can benefit from the following:

• Housing Stimulus: Tax credits up to $7,500 for new home buyers and possibly even up to $15,000 for all buyers.
• Low Mortgage Rates: Mortgage interest rates may go as low as 4 percent.
• Foreclosure Moratorium: Delinquent homeowners with loans held by Fannie Mae or Freddie Mac get extension.
• Job Creation Bonus: Small business owners who add new employees to the payroll may get money back for hires.

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 Lynnette Khalfani-Cox, The Money Coach is a personal finance expert, speaker, and author of numerous books on personal finance. She appears frequently as an expert commentator on television, radio and in print.