How Can I Remove Negative Information From My Credit Report So That I Can Qualify For A Home Loan?
Q: I am trying to get pre-approved for a home loan, so I have been tracking credit reports and scores daily. There are 3 hard inquiries that would boost my score some 30 points, once removed. They were supposed to be removed as of 02/01/2010. The inquiries were pulled on january 9, 2008. Since these […]
What is the Best Way to Spend My Tax Refund?
Q: I want to use my tax refund money wisely this year so I can build a strong foundation for me and my two little girls. I have not been very smart with my past money choices. How can I make my money work for me this time? A: Congratulations for wanting to improve not […]
I Don’t Have a Credit File and Now I Want to Buy A Home. What Should I Do?
Q: I am a 44 year old man who has never had credit. The last time I financed anything was in 1991. I pay all my bills (including rent) on time. Now I want to purchase a home, but I have no credit score. What can I do and are there programs to help first […]
Can Multiple Secured Credit Cards Boost Your Credit Score
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 […]
Grants and Loans For First Time Investors
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 […]
Advice if Your Home is Underwater
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: […]
How to Get Your Student Loan Out Of Collections
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 […]
How to Remove Duplicate Accounts on Your Credit Report
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 […]
How Will My Bad Credit Impact My Fiance’s Good Credit?
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 Can I Lower My Income Taxes?
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 […]
Should I Give Up My Car?
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 […]
Where to Get Free Money For Closing Costs
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 […]
Would it Make Sense to use My Retirement Savings to Fund My Master’s Degree?
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 […]
Should I Borrow From Life Insurance Policy to Pay Off Debt?
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 […]
Will Accepting a Settlement Offer From a Credit Card Company Affect Your Credit Score?
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 […]