Dear Liz: My wife and I are both 80 and we are contemplating adding our 56-year-old daughter as a co-owner and borrower to our home. The house is now valued at $600,000 and our mortgage balance is $196,000. If it is advisable, and I am able to do this, will it prevent the house going into […]
Recent Blog Posts
Today’s must-read: Run–don’t walk–out of this store
Everybody knows that renting-to-own furniture, televisions and electronics is an expensive way to buy. What you may not know are all the other ways these transactions can hurt you. It’s not just ruined credit and aggressive collection tactics. In some states, you can even go to jail. NerdWallet’s investigative reporting team exposes the horror stories […]
Q&A: Saving for retirement can’t wait
Dear Liz: I have a family member who at 57 has no savings, a house whose value is 58% mortgaged and debt from a family member of $180,000. This person is just starting a new job that will cover expenses with about $1,000 left over each month. The job offers a 401(k) but doesn’t allow […]
Q&A: Free credit monitoring won’t prevent identity theft
Dear Liz: I thought I would share some information in light of the Equifax disaster. Two of my credit card issuers provide free credit monitoring. Capital One scans my TransUnion file and Discover uses Experian. Both send email and text alerts about new activity and a monthly “reassurance” email when no such activity turns up […]
Friday’s need-to-know money news
Today’s top story: Rent-to-Own: Be informed before you sign. Also in the news: How Rent-A-Center torments customers, the pros and cons of subscription meal boxes, and how to “credit surf” to score huge reward bonuses. Rent-to-Own: Be Informed Before You Sign Reading the fine print. Kicking in Doors and Crushing Credit: How Rent-A-Center Torments Customers […]
Thursday’s need-to-know money news
Today’s top story: 3 questions couples should ask before getting a dog. Also in the news: 4 Black Friday facts retailers don’t want you to know, what to buy and skip this Black Friday, and the number one financial fear for most Americans. 3 Questions Couples Should Ask Before Getting a Dog A financial commitment. […]