An HOA, as a homeowners’ association is known, creates and enforces rules for the community and collects the monthly or annual dues. There are pros and cons to owning a home in a community governed by a HOA, which is often a nonprofit entity that is operated by a board comprised of homeowners, sometimes in […]
Pros and Cons of a Homeowners’ Association Read More »
A dual agent is one who works for both the home buyer and the seller. You typically end up in this situation if the agent who listed the property is also your agent. You might inadvertently put yourself in this situation if you buy a home from the agent hosting an open house. Avoid dual
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If you are shopping for a home, you should know the difference between a buyer’s agent and a listing agent. A buyer’s agent, sometimes known as a “buyer’s broker,” works only for the home buyer, and is legally bound to represent the best interests of the buyer. A listing agent is the agent who contracts
Buyer’s Agent vs Listing Agent Read More »
Even though homes sales are up nationwide (note, sales means number of transactions, not prices!), it’s still a buyer’s market out there, meaning there are more homes offered for sale than there are buyers. Here are 5 tips for negotiating a great deal in a buyer’s market. Ask the Seller to Pay Some or All
5 Tips for Wheeling & Dealing in a Buyer’s Market Read More »
Beware of calls from “zombie” debt collectors. These are bill collectors that try to get people to pay money on debts that were allegedly incurred 10, 15 or even 20 years ago. I received such a call today from a Christian Gable of National Action Financial Services (Phone: 866-529-1885). They claimed I owed money on
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We all can take advantage of some money-saving strategies, whether or not we have Financial Deficit Disorder. Whether you want to save money to buy a house, sock away for retirement, college or a rainy day, here are five tips, adapted from my book “Your First Home: The Smart Way to Get It and Keep
5 Tips for How and Where to Save Money Read More »
It’s not unusual to make the occasional late payment on a bill, or treat yourself to a frivolous purchase every now and then — We all have done it at some point in our lifetime, and perhaps even a few times too many. However, there are some people out there with FDD —Financial Deficit Disorder,
10 Ways to Tell If You Have Financial Deficit Disorder Read More »
The bad news is that most law school graduates have a ton of student loan debt. The good news is that many law schools forgive loans of students who serve in public interest or nonprofit positions. Equal Justice Works is a great resource for how you can get law school loans forgiven. Browse its website
Law School Loan Forgiveness Read More »
The topic of student loan cancellation is covered in my book, Zero Debt for College Grads. The following is a short excerpt. I’ve already warned you about how difficult it can be to get a student loan discharged. Unfortunately, part of what makes it tough is that for most discharges, the ultimate authority on the
What to Do if Your Student Loan Cancellation Application Is Denied Read More »
This post is part of week-long a series of articles about how to qualify to get student loans canceled. By Lynnette Khalfani-Cox, The Money Coach Under federal law, as of October 8, 1998, you can no longer discharge student loan debt in a bankruptcy proceeding. As with most laws, however, there are loopholes and exceptions
Student Loan Cancellations In Bankruptcy Are Rare – But Possible Read More »
Effective Oct. 7, 1998, all borrowers of Perkins loans are entitled to have those loans discharged if they served in the U.S. armed forces. This student loan cancellation privilege applies to Perkins loan recipients regardless of when the loan was made or what the terms on the original promissory note are. Military personnel qualify for
Student Loan Cancellation and Discharge for Military Service Read More »
Two other categories that you might qualify for with regard to getting your student loans discharged or cancelled pertain to service-based work. You can get your educational loans cancelled, or at least greatly offset, for jobs in teaching and public service. Up to $17,500 Forgiven Teachers qualify for loan forgiveness in the amount of $5,000
Student Loan Cancellations for Teaching and Community Service Read More »
If the school that you attended closed before you could earn your degree, or if you withdrew from the school or were on an approved leave no more than 90 days before it closed, you can also qualify to get your student loans cancelled. Those of you who completed your studies elsewhere or by transferring
Student Loan Cancellations for School-Related Issues and False Certification Read More »
While many student loan cancellations can be difficult to obtain, some are not. Take the case of Jaclyn Ward, who went to Harvard and then graduated from Fordham Law School in 2003. I once interviewed Ward for Essence Magazine, and she explained to me that her position as an assistant district attorney, in the Manhattan,
A Student Loan Cancellation Success Story Read More »
I can already guess what many of you are thinking about getting a student loan cancellation or discharge for reasons of death. You’re thinking, a) I’m reading this information, Lynnette, so I’m obviously alive and not dead! and b) I don’t have any plans on dying anytime soon, nor do I want to die, so
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