Today’s top story: How income-based student loan repayment is calculated. Also in the news: The ideal debt-to-income ratio for student loan refinancing, why you might be eligible for a TurboTax refund, and how adult children are eating into their parents’ retirement savings. How Is Income-Based Repayment Calculated? Determining your monthly student loan payment. Debt-to-Income Ratio […]
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Tuesday’s need-to-know money news
Today’s top story: In the points and miles game, blind loyalty can cost you. Also in the news: The best mortgage lenders with no origination fee, how a personal loan affects your credit score, and how thinking like an optimist could help you save more. In the Points and Miles Game, Blind Loyalty Can Cost […]
How debt ‘solutions’ could dig you in deeper
Americans are slipping ever deeper into hock. To cope, many people turn to debt consolidation loans, cash-out mortgage refinancing and retirement plan loans that promise relief but could leave them worse off. Paying off high-rate debt such as credit cards with lower-rate loans may seem like a no-brainer. Unfortunately, many of these loans have hidden […]
Monday’s need-to-know money news
Today’s top story: Pet insurance can be your wallet’s best friend. Also in the news: How to get the most out of online reviews, talking to your parents about their financial plans, and where the 2020 candidates stand on student debt and college affordability. Pet Insurance Can Be Your Wallet’s Best Friend Covering your furry […]
Q&A: Capital gains on house sale
Dear Liz: I am one of those seniors who purchased their house in the 1970s. I would like to move but I’m reluctant because of the huge capital gain tax that I would have to pay. The exemption amount has not been raised since 1997 when it was enacted. In comparison, the estate tax exemption […]
Q&A: Loans, taxes and home sales
Dear Liz: You recently answered a question about determining home sale profits for a widow. My question is how you calculate taxes when there’s a loan in the mix. For instance, when I bought my home, I took out a mortgage. Subsequently, I took out a second mortgage to pay for a pool and landscaping. […]