Q: My wife had a premie baby almost 6 years ago and couldn’t work for two years. Even though I worked two, and sometimes three jobs, we got behind on our bills and now have a lot of stuff on our credit, like charge offs and hospital bills. If we got a few secured cards […]
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To find grants or loans to purchase or rehabilitate housing, your best bet is to seek out federal money that is provided to state and local governments, and in turn, passed along to investors or organizations. For example, through HUD’s Neighborhood Stabilization Program, home-buyers can purchase foreclosed properties that may need fixing. To learn more
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Q: My husband and I are underwater on our lovely historic 1930 era home, which we hoped to grow old in. We paid $783,000 for it back in 2005, when we had a six figure income as a couple and could afford it. Our home is now worth about $500,000. What should we do? A:
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Q: My Student Loan is In Collections. What Steps Can I Take To Remedy This Situation? A: You did not state whether you are struggling with federal student loans or private loans. Whatever the case, I believe the article I’ve written below answers your question about how to handle student loans in collection. Essentially, you
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How to Remove Duplicate Accounts on Your Credit Report? If you’ve spotted duplicate accounts on your credit report, especially after a lender sells or transfers your debt, you’re not alone. Many consumers discover both the original creditor and the new collector reporting the same account simultaneously. This raises an important question: Can duplicate accounts legally
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Q: I’m getting married this year and am cleaning up my credit. I have 10 delinquent debts on my credit reports due to my ex. My future husband has outstanding credit. How will my poor credit affect my fiance after we are married? A: In a nutshell, your past bad credit won’t impact him at all.
How Will My Bad Credit Impact My Fiance’s Good Credit? Read More »
Q: How Can I Lower My Income Taxes? My Wife and I Make About $140,000 Combined a Year. We have Two Young Children. We Live in Massachusetts. We Owed Money Last Year and This Year We Owe About $4,600. A: I know it hurts to get a big tax bill, and it’s not fun to
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Q: I would like to trade in m car because I am upside down on the car loan and it has 123,000 miles on It. I have a previous voluntary repossession and a bankruptcy on my credit report. An attorney recommended that I let this car go and get another one before it shows up
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Q: I’m purchasing a new home that’s being built and I close in March. Is there a way to get free money for closing costs or other expenses? A: There are many opportunities for home-buyers, especially first-time purchasers, to get free money and other resources to buy a house. First, there’s the federal tax credit
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Q: Does it make sense to use my retirement savings to fund my Master’s Degree? I have no debt, some savings, twin toddlers and a husband who is currently out of work? The Masters Degree program will cost around $50,000. A: For many reasons, I think it would be a very bad idea to use
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Q: I was wondering if it is a smart idea to borrow from my life insurance (whole life policy) in order to pay off debt? A: If it was just a matter of evaluating the wisdom of using your life insurance to pay off your charge card debt, I would be inclined to tell you
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Accepting a settlement offer from a credit card company will negatively impact your credit rating and lower your credit scores. The reason for this is that when a settlement occurs, a creditor has agreed to accept less than the full amount of money owed to it – even though the creditor, internally, will consider the
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Q: What Credit Score Do You Need to Qualify for a Home Loan, and Can You Get a Mortgage These Days With a Low Score? A: FICO credit scores range from 300 to 850 points. Banks and other lenders now want to see 700 credit scores and higher, which is all the more reason to
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Q: I am a U.S. Army veteran having trouble refinancing a home I purchased over 3 years ago. I want to lower my rate and monthly payment. I have a fixed 30-year loan at 6%. I bought it for $132,000 and now owe $125,000. The property has fallen in value. I don’t wish to move
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If you’re wondering should you cancel a loan modification, the short answer is: probably not—especially if you’ve already completed the trial payment period. Homeowners facing financial stress often seek loan modifications as a way to avoid foreclosure and get back on stable financial ground. But when the process drags on with little communication, it’s understandable
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