If you are ready to purchase a home or even refinance your current mortgage, knowing what a lender looks at in an applicant can help you be prepared for the mortgage application process. There are three elements that a lender reviews in order to determine if you are a worthy candidate – your credit history, capacity and collateral. These three elements all combine to tell the lender if you are a good credit risk. For more information read, “Three must-haves when applying for a home … [Read more...]
How to you handle filing tax returns when you divorce?
May 15, 2014 by
Ending your marriage is stressful and emotional; however, ending up in tax court because you and your spouse both claimed your children on separate tax returns only rubs salt into the wound. Filing tax returns for the year your divorce can be complicated, especially when there are children involved and you itemize expenses. Communication seems to be the number one lesson that other couples can learn from this couple’s mistake. For more lessons read, “IRS Case Offers Joint Tax Return Lessons … [Read more...]
Do you know makes a buyer not like a home? You should if you want to sell yours!
May 14, 2014 by
If you want to sell your home, you had better know what buyers want and, more important, what they do not want. Buyers can make a decision based on something as simple as they do not like that the kitchen is decorated in a rooster theme. Some buyers may be able to look past small things such as this; however, knowing what turns a buyer off can mean the difference in selling your home within the first few months or your house sitting on the market for a year. If you want to know what turns a … [Read more...]
Quiznos makes quick work of Chapter 11 case
May 13, 2014 by
The fast-food restaurant filed for Chapter 11 bankruptcy earlier this year; however, it worked some “fast food magic” in bankruptcy as it has already received confirmation of its proposed plan of reorganization. Even though the company only owns seven of the 2100 restaurants (the rest are operated by franchisees), it was severely in debt. With the help of its creditors, the company has been able to successfully propose a plan to continue in business. For the complete store read, “Court … [Read more...]
Rebuilding credit during a Chapter 13 case
May 12, 2014 by
Many bankruptcy debtors are worried about how they will rebuild their credit after filing bankruptcy. One way is to obtain a secured credit card. You must place a deposit equal to your credit limit with the credit card company to cover any potential defaults in payment. However, as you make each monthly payment on time, the company should report this to the credit reporting agencies so that your credit rating will begin to improve. If you are in a Chapter 13 bankruptcy, you should consult … [Read more...]
Current trends related to your money and credit score
May 9, 2014 by
It seems that every day someone is telling us something new that we must know about what affects our credit scores. There is a never-ending list of new trends that affect our wallets as well as our credit ratings. It is difficult to keep up with every new trend; however, there are a few that you should review so that you are not taken by surprise. Keeping up with financial trends helps us improve our finances and have a stronger financial foundation. For current financial trends read, … [Read more...]
Student loan deadlines!
May 8, 2014 by
You may be concentrating more on final exams and the end of school; however, for many parents they must look ahead to August and September when their student will be returning or entering college. Paying for college is an expensive venture and many parents must assist their children in finding and securing student loans. Because the student loan process never takes a summer break, there are student loan deadlines that every parent and student should know. To learn about student loan … [Read more...]
Grossest item ever sold at bankruptcy auction
May 7, 2014 by
You really can find just about anything at a bankruptcy auction – even Curt Schilling’s bloody sock. The sock is expected to bring more than $100,000 next month from an online bankruptcy auction. When athletes or other famous people file bankruptcy, there is always the chance that something odd, unique, or in this case, gross will end up on the bankruptcy auction block. I guess nothing is too gross for creditors to sell if it means they will get some of their money back. For more you can … [Read more...]
Are baby boomers looking for roommates?
May 6, 2014 by
Whether it is the fact that there are more baby boomers than ever looking for a way to retire on a limited budget or the fact that as a society we are living longer but not healthier, baby boomers may create a new need for adult roommates. It is a way to share expenses while maintaining a certain level of independence and autonomy. Analysts from several areas of study are beginning to look at this trend and how it will affect our society and our economy. For more read, “Aging Baby Boomers … [Read more...]
How much does it cost to move?
May 5, 2014 by
If you are moving, you may already realize that moving can be expensive - - and that is just moving across town. When you are moving across state or to another state, the cost of moving begins rising faster and faster. Hiring movers, paying storage fees, posting deposits and paying for unexpected delays can eat away at your moving budget quicker than you anticipated. Those are just the costs that you may have planned for when calculating the costs of moving. There are some costs you may not … [Read more...]
