Thursday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: Thousands of homeowners are missing out on lower mortgage payments. Also in the news: How safe are your deposits, how to save money while you remodel, and why free checking can be a misnomer.

800,000 Homeowners Are Missing Out on Lower Mortgage Payments
Are you one of them?

How Safe is Your ‘Safe Money’?
How banks are protecting your finances.

3 Ways to Reduce Your Remodeling Budget
DIY doesn’t have to mean $$$.

Checking account costs rise; only 28% are free, study finds
Free comes at a price.

10 Smart Money-Saving Tips for Time-Strapped People
Quick tips that’ll save you money.

Wednesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: How to save big on your mortgage when buying your first home. Also in the news: Why extended warranties may not save you money, three reasons not to raid your retirement account, and breaking bad financial habits.

How First-Time Homebuyers Can Save Big on Their Mortgage
Thanks to the FHA.

Extended warranties may not save you money
Read the fine print.

3 Reasons Not to Raid Your Retirement Accounts
Fees and lost interest should deter you.

9 Bad Financial Habits You Need to Break Right Now
Starting with doing the same thing over and over again.

Use the Ladder Method to Make Investing Simpler
The five rungs of investing.

Tuesday’s need-to-know money news

imagesToday’s top story: The secret weapon you should use to build a bigger 401(k). Also in the news: Avoiding the deferred interest credit card trap, talking to your kids about money before they leave for college, and why some borrowers with older student loans could see their payments reduced.

The Secret To Building A Bigger 401(k)
A financial adviser could be the secret weapon.

When 0% Interest Isn’t 0%: Credit Card Tricks You Must Know
Avoiding the deferred interest trap.

How to talk money before they go off to college
One of the most important conversations you’ll have before they leave.

Help is on the way for some with student loans
Those with older loans could see some relief.

The Most Expensive Mortgage Mistakes You Can Make
Avoid these at all costs.

Tuesday’s need-to-know money news

money-vacation-saveToday’s top story: Common credit mistakes that could ruin your mortgage. Also in the news: Starbucks will pay college tuition for all of its employees, a young person’s guide to getting rich, and what not to do with your credit cards during your summer vacation.

5 Credit Moves That Could Wreck Your Mortgage
Common mistakes to avoid during the mortgage process.

Starbucks clears college degree path for employees
All employees will receive free tuition to an online University.

A Young Person’s Guide To Getting Rich Slowly
Saving immediately for retirement is key.

5 Summertime Credit Card Blunders and How to Avoid Them
You’ll have to pay for all that summer fun eventually.

Moving Just to Avoid Taking 401(k) Tax Hit
Just a bit extreme.

Wednesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: How to begin taking over your parents’ finances. Also in the news: The psychological roots of your money habits, how to buy a home when you’re self-employed, and the best and worst things to buy online.

Taking Over Parents’ Finances: First Steps
How to handle a delicate situation.

Deciphering Your Money Mindset
Getting to the psychological roots of your money habits.

How to Buy a Home When You’re Self-Employed
It won’t be easy, but it’s doable.

The 10 best and worst items to buy online
Some of these may surprise you.

Q&A: Home equity loans, mortgages and retirement

Dear Liz: I wish to add a little more information for the retired individual who had trouble getting approved for a home equity loan because he had no regular income (although he had plenty of assets). I’d suggest consulting a mortgage broker, not a bank. An independent broker is not captive to one set of policies. My broker suggested that I set up automatic withdrawals from my IRA to show that I had income in addition to Social Security. Once this was done and I met all the other credit requirements, I closed on a refinance in less than 30 days at a very good interest rate. Then, I discontinued my automatic withdrawals and went back to taking my funds as needed. I learned to use a qualified mortgage broker many years ago after a divorce and not having a job. I could not get a mortgage on my own, but my mortgage broker did and at very good terms. Each time I’ve used a broker, the process went smoothly and was stress free.

Answer: Many people don’t realize that lender policies differ quite a bit. In this case, mortgage buyers Fannie Mae and Freddie Mac have clarified that mortgage lenders can calculate a retiree’s income based on his or her assets, but not all lenders are willing to do the extra work these loans require.

People who are W-2 employees with solid income histories and great credit scores probably don’t need help finding a loan, because plenty of lenders will want to compete for their business. When your situation is outside the norm, however, a mortgage broker may be able to track down a lender when others balk. The National Assn. of Mortgage Brokers at http://www.namb.org offers referrals.

Thursday’s need-to-know money news

money-bucketsToday’s top story: What you need to save every day for a comfortable retirement. Also in the news: The three tax buckets, the 10 commandments of savings, and four boring but essential money conversations.

$82 a Day Is the Average Savings for a Comfortable Retirement
$82.28 to be exact.

What Pre-Retirees Should Be Asking About Taxes
Introducing the three buckets.

The 10 Commandments of Saving Money
Thou shall follow these rules.

4 Boring Money Talks You Need to Have
Boring but necessary.

How to Find Financial Assistance for Your Down Payment
Don’t let your down payment hold you back.

Thursday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: Getting your credit score ready for a mortgage. Also in the news: The effectiveness of spending apps, the pros and cons of companion tickets, and how to protect yourself from tax identity theft.

Is Your Credit Score Ready for Mortgage Shopping?
Prepping your credit score for home shopping.

Can’t control your spending? There’s an app for that. But does it work?
Just how effective are spending apps?

Companion Tickets: The Perk That’s Not Always Rewarding
Smoke and mirrors.

Tax Identity Theft: Why You’re Vulnerable
It’s a busy season for hackers.

Friday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: How the habits of early retirees could lead you to retirement. Also in the news: Things to consider when saving for a mortgage, easing financial worries with smartphone apps, and what to do when your friends are big spenders.

5 Essential Habits of Early Retirees
Retire early by picking up these habits.

Saving for a House: It’s More Than a Down Payment
What to consider when you’re saving for a mortgage.

Face Your Retirement Fears With These Free Financial Tools
Reassurance is just a smartphone app away.

How to Keep but Not Go Broke with Expensive Friends
Balancing your friends and your budget.

5 Ways to Pick the Perfect Time to Sell Your House
As they say, timing is everything.

Wednesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: Where to save for retirement if you make less than $100,000. Also in the news: Financial therapy, the least prepared states for retirement, and a guide to refinancing your mortgage.

Don’t Wait For Obama’s MyRA: The Best Places To Save For Retirement If You Make Less Than Six Figures
The best time to start saving is now.

Do You Need Financial Therapy?
You don’t need to deal with money problems alone.

Retirement readiness looks grim in many states
Wake up, South Carolina!!

Four-Step Guide to Refinancing Your Home Mortgage
Lower interest rates could save you money.

Money-saving tips for seniors
Easy ways to keep some extra money in your wallet.