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 […]
Recent Blog Posts
Q&A: Helping retired parents refinance
Dear Liz: I am trying to help my retired parents refinance their home. Currently they are paying over 8% interest. (This loan should be illegal.) The problem is their credit score, which is around 536. They had a tax lien in 2004 (it has been paid off for over four years) and some minor credit […]
Money rules of thumb: Retirement edition
For every rule of thumb, there are hundreds of people who would quibble with it. We saw that just recently with a USA Today columnist who quantified exactly how much you need to save for retirement (his answer, via an analysis by T. Rowe Price: $82.28 a day). Lots of people didn’t like that the […]
Friday’s need-to-know money news
Today’s top story: How to find the right credit card. Also in the news: Improving your financial knowledge, setting good financial examples for your kids, and why payday loans are as bad as Peeps. What Credit Cards Should I Avoid? Finding the card that best suits your needs. 5 Ways to Improve Your Financial Knowledge […]
Thursday’s need-to-know money news
Today’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 […]
Wednesday’s need-to-know money news
Today’s top story: What to do if you made a mistake on your taxes. Also in the news: How to help a friend in financial trouble, money mistakes to avoid on your honeymoon, and what you need to take care of financially before your baby arrives. Help! I Did My Taxes Wrong Don’t panic! Helping […]