QUESTION: Is my mortgage well integrated into my financial plan? ANSWER: While securing a low rate or owing little on your mortgage are great achievements, neither will make you financially secure if you don’t also have a plan in place for retirement or have liquid cash on hand to cover an emergency. So before you [...]
QUESTION: Should I pre-pay my mortgage? ANSWER: Another way to put this question would be to ask yourself: Would you rather be house rich and cash poor? Or house poor and cash rich in this current economic environment? Here’s some information to consider. Home equity accumulates in four ways: the money committed in the original [...]
The college fall semester is right around the corner and for most incoming freshmen it will serve as a maiden voyage for living away from mom and dad. If you’re a parent who’s facing this situation, here are three topics that are a must to discuss with your undergrad-to-be. The pre-college to-do list is daunting [...]
QUESTION: Can a Home Equity Line of Credit (HELOC) impact my credit score? ANSWER: Credit expert Linda Ferrari (author of “THE BIG SCORE: Getting It and Keeping It, Buying Power for Life”) explains that HELOCs are commonly categorized as revolving accounts. As a result, they are rated using the “Balance to Limit” ratio scenario, which [...]
QUESTION: This year, instead of your taxes being due on Friday, April 15, you’ll have a few extra days to complete and file your taxes. That means your tax filing isn’t due until Monday, April 18, 2011. But why was it changed? ANSWER: The three extra days have been added because of Emancipation Day, which [...]