Most people hate hearing the words “financial planning” as they assume that someone will be lecturing them about the merits of creating and sticking to a monthly household budget. However, one of the most important elements of financial planning is asking yourself “what if” - - what if I lose my job, what if my spouse dies, etc. By asking the “what if” questions, you may be able to avoid extremes like bankruptcy or foreclosure. For helpful tips on how to begin your financial plan read, … [Read more...]
The new “career renters”
September 19, 2013 by
There is a new trend among Millennials in the real estate market. Rather than buying a home, they are becoming what are referred to as “career renters.” The number of career renters seems to be growing. They are content to rent rather than taking the plunge into the real estate market. Whether it is the convenience of renting (little maintenance, great amenities, etc.) or the desire to avoid mortgage debt, a growing number of young adults are delaying homeownership for the foreseeable … [Read more...]
What can I do if the bank will not accept my mortgage payment?
September 19, 2013 by
Unfortunately, a lender is not required to accept a mortgage payment if you are behind on your payments. Even if they have done so in the past, a mortgage company can refuse to accept any more payments until you pay the entire past due amount in full. If you believe you are not behind, you may want to contact an attorney for assistance. If you are behind, a bankruptcy filing could delay the foreclosure process or even help you to catch up the past due portion and resume payments. For more … [Read more...]
Can I get rid of my second mortgage in bankruptcy?
September 18, 2013 by
In most cases, when you file a bankruptcy you must pay secured debt if you intend to retain the property. A second mortgage is a secured debt; however, in some instances you may be able to wipe that debt out if the value of your home is less than the amount you owe on your first mortgage. However, the recovering real estate market and rising home values are decreases the cases in which this is an option. For more about this read, “Can Chapter 13 Help Me Get Rid of Second Mortgage?” … [Read more...]
Couple sues Ocwen over discharged debt
September 18, 2013 by
A lawsuit filed in the Eastern District of Texas alleges that Ocwen Loan Servicing violated the Fair Credit Reporting Act and the Texas Debt Collection Act by continuing efforts to collect a debt that was discharged in a federal bankruptcy case. The couple filed individual bankruptcy cases in 2008 and 2009. Both listed the Ocwen debt as an unsecured claim in each of their bankruptcy cases. Each debtor received and order of discharge terminating any rights Ocwen had against the debtors with … [Read more...]
Back to school tax lessons
September 17, 2013 by
As students start back to school after the Labor Day holiday, parents should brush up on some tax lessons that may help them save money now and on their tax returns. For example, our number one lesson is about the Coverdell education savings account. Did you know that with this account you could pay for educational expenses for your child even if he or she is in grade school? Moreover, it does not matter if that is a public or a private grade school either. That one lesson will save you … [Read more...]
Dispelling the myths about renters insurance
September 17, 2013 by
If you rent your home, you should already have renters insurance to protect your personal belongings. If you do not have renters insurance, it may be due to several common myths about renters insurance that many people believe to be true. For example, many renters believe that their landlord or his insurance will cover property damages. This is not the case. It is very rare for a landlord to provide insurance to his or her tenants. His insurance covers the building and any assets he may … [Read more...]
347-559-7963
September 16, 2013 by
A man using the telephone number listed above has been calling people and identifying himself as working with the Internal Revenue Service Criminal Investigation Division. He then follows up by telling the person he called that they owe the IRS money and then proceeds from there. This is a scam. The IRS Criminal investigation Division does not call people and tell them that they owe money. The IRS Criminal investigation investigates tax fraud. If you receive a call from this individual … [Read more...]
How to find the perfect realtor
September 16, 2013 by
Whether or not you are buying or selling a home, having a great realtor can mean the difference between a stress-free, quick transaction and disaster. To make sure that you are hiring a good real estate agent, ask for referrals and then check them. Do not rely on the references given to you by the realtor but get your own too. Check with the Better Business Bureau, local consumer groups and online groups such as Angie’s List. Ask potential realtors if they are members of professional … [Read more...]
Tax-free school money
September 16, 2013 by
If you are searching for a way to pay for your education, you may want to look to your employer for help. Most benefits that are offered by an employer are considered taxable income. However, if tuition assistance meets specific qualifications, the money you receive from your employer for educational assistance could be tax-free money. You may be able to get tax-free educational assistance from your employer that covers tuition, fees, books and supplies. For more information about employer … [Read more...]
