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Do you have questions about money? Here’s a secret: we all do, and sometimes finding the right answers can be tough. My new book, “There Are No Dumb Questions About Money,” can make it easier for you to figure out your financial world.

I’ve taken your toughest questions about money and answered them in a clear, easy-to-read format. This book can help you manage your spending, improve your credit and find the best way to pay off debt. It can help you make the right choices when you’re investing, paying for your children’s education and prioritizing your financial goals. I’ve also tackled the difficult, emotional side of money: how to get on the same page with your partner, cope with spendthrift children (or parents!) and talk about end-of-life issues that can be so difficult to discuss. (And if you think your family is dysfunctional about money, read Chapter 5…you’ll either find answers to your problems, or be grateful that your situation isn’t as bad as some of the ones described there!)

Interested? You can buy this ebook on iTunes or on Amazon.

Will her bad credit prevent him from getting a mortgage?

Dear Liz: Is it possible for me to buy a home without having my wife on the mortgage? She lost her business because of the recession. I do not want to deal with her creditors.

 Answer: You can apply for a mortgage based solely on your own income, credit scores and debt-to-income ratio, if those are sufficient to buy the house you want. Your wife’s income and credit does not have to be considered.

If you can’t swing the purchase without her income, though, you’ll both need to spend some time improving her credit scores. That might include adding her as an authorized user to your credit cards. Another option is to negotiate settlements with her creditors in return for their deleting the collection accounts from her credit reports. You’d want to be cautious in these negotiations, especially if the statute of limitations on the debts hasn’t expired and your wife could be sued. Consider visiting DebtCollectionAnswers.com for help in negotiating with creditors.

Short sales, foreclosures have similar effect on credit scores

Dear Liz: I went through a divorce in the last year after being separated for two years. During our separation, we closed credit cards with high balances to make sure neither party would spend more on credit. We also had to short sell our home. So, as a single woman in her mid-30s, I have credit that’s somewhat shot for now. How many months should I expect the short sale to affect my credit scores? And was closing the credit card accounts good or bad for my credit?

Answer: Closing credit accounts can’t help your credit scores and may hurt them. In a divorce, however, it’s usually wise to close all joint accounts. Otherwise, your credit rating is in the hands of your ex-spouse, who could trash your scores by paying accounts late or maxing out credit lines.

In any case, the short sale probably had a much greater effect on your credit than the account closures. Short sales typically damage your credit as much as a foreclosure, according to the company that created the leading FICO credit score. Recovery times are measured in years, not months. If your scores weren’t that high to begin with — say 680 in the 300-to-850 FICO scale — it would take about three years for your numbers to return to their old levels. If your scores were high, say 780, it would take about seven years to restore them to their old peaks.

These recovery times assume you handle credit responsibly from now on. That means having and lightly using a credit card or two, making all payments on time and ensuring no account goes to collections.

Adjustable mortgage poses risks

Dear Liz: Should my retired wife (age 74) and I (age 78) refinance our home just to lower our monthly payment by $100? I’m considering going for a five-year fixed at 2.74% followed by a 25-year variable. Our outstanding loans amount to $200,000. The value of our home has decreased to $400,000. My wife is fearful of the 25-year variable.

Answer: As she should be. According to mortality tables, she’d have to live with it longer than you will.

You two are old enough to remember the double-digit inflation of the 1970s and the havoc that wreaked. If inflation like that (or anything close) were to return, your mortgage payment could quickly become unaffordable.

Economists are concerned that all the cash that’s been pumped into the economy to fight the downturn could spark inflation if growth resumes. Too much cash chasing too few goods is what traditionally has led to serious inflation.

In any case, lenders know that today’s record low interest rates won’t last. That’s why they’re so eager to push loans that will become variable at some point — so that the borrowers will be the ones to shoulder the interest rate risk.

Some borrowers can take that risk, but they tend to be younger folks whose incomes are also likely to rise if inflation returns. For people on fixed incomes, the math really doesn’t work.

Do yourself and your wife a favor. If your current loan has a fixed rate, stay with what you have. If it doesn’t, consider refinancing to one that does.

Will home sale trigger eviction?

Dear Liz: Our landlady has been diagnosed with an advanced stage of cancer. In her precarious health, I find myself concerned that we may have to move if she gives up the duplex and moves to a care facility.

I’m unemployed and my 72-year-old husband has recently been diagnosed with early stages of dementia. I find it difficult to face the prospect of returning to work and finding proper care for him even though I know I need to do so very soon.

If she sells the duplex or leaves it to someone in her will should she die, what protection do we have against having to move out in a hurry or have our rent raised dramatically? Either situation would put us into chaos. What are our options?

Answer: If you have a lease, that contract typically would survive a change in ownership. The new owner would have to honor its terms until the lease was up. If you rent month to month, the new owner would have to follow minimum notice requirements determined by your state to raise your rent or terminate your tenancy. The Nolo website at http://www.nolo.com has additional information about tenants’ rights.

If you can no longer afford your rent, you may be eligible for government housing assistance if your income is sufficiently low. You can find more information by using the Eldercare Locator at http://www.eldercare.gov or calling (800) 677-1116. You should check out this federal service’s resources in any case, since you will have a big task ahead of you in caring for your husband even if nothing changes in your living situation.

Other good sites to explore include the Alzheimer’s Assn. at http://www.alz.org, which has information for caregivers and a “care locator” that can help you find care options in your community such as adult day centers, in-home care and respite care. And speaking of respite, you also should check out the ARCH National Respite Network at archrespite.org for people who can help when you need a break.

Reluctant lender blocks quick foreclosure solution

Dear Liz: Is there any way to expedite the foreclosure process? My wife bought a townhome shortly before we were married. Long story short, it didn’t fit our family once we got married and had a baby. We bought a larger house and tried renting the townhome but couldn’t cover the mortgage payment. We attempted a short sale, but the bank refused a good offer, so we let it go into default. We even offered to do a deed in lieu of foreclosure, but the bank refused unless we provided financial information for me, too. Since I’m not named on the mortgage and wasn’t even around when she got the loan, I refused. We’ve mentally and financially prepared for foreclosure and now just want the process complete. The bank, though, doesn’t seem to be in any kind of hurry. The process is now entering the third year with no action on their part, and we haven’t even been to the property in well over a year. We’ve told them expressly that we aren’t fighting them on the foreclosure. At this point we just want to move on.

Answer: Offering a deed in lieu of foreclosure — in which your wife hands over the keys in return for being released from the loan — was probably your best bet to speed things along. If you don’t want to provide the financial information the mortgage company is requesting, you’re stuck with waiting this out.

It’s unfortunate, because many lenders prefer deeds in lieu as a cheaper, faster way to get control of properties they’re going to wind up with anyway. The idea is that the homes probably will be in better condition than if an angry borrower or squatter trashes them, plus the costs of formal foreclosures are avoided. As foreclosure times have lengthened, some lenders have even sent out letters to underwater homeowners in default urging them to consider a deed in lieu transfer.

One thing you should investigate is whether the lender can come after your wife for a “deficiency judgment.” If it is allowed in your state, your wife could be liable for any leftover debt that isn’t paid off with a foreclosure sale. Talk to an attorney familiar with credit and foreclosure laws in your state.

Finding an apartment after foreclosure

Dear Liz: My wife and I went through a foreclosure last year and need to rent an apartment. We have no credit card debt and over $30,000 in savings on an income of $75,000. We know that our credit will be an issue on apartment applications because of the foreclosure. What can we do to improve our chances of getting a decent apartment in a safe neighborhood?

Answer: Although foreclosures may not carry the same stigma they did before the real estate bubble burst, they still wreak havoc on your credit scores. Your scores will need three to seven years to completely recover, and that’s if you inflict no further damage. Paying your bills on time and using credit responsibly will help you rehabilitate those numbers.

In the meantime, you can increase your odds of finding a good place by looking for mom-and-pop landlords, rather than applying at apartments managed by huge corporations. The big companies usually rely on credit scores to screen out applicants, while a smaller landlord may be more flexible. Offering to make a bigger deposit or to pay several months’ rent in advance might help persuade them, said Stephen Elizas, author of “The Foreclosure Survival Guide.”