Archive for September, 2008
Decrease my paycheck taxes?
J K asked: I am planning to buy a new home, the mortgage amount is going to be about double what I have right now, therefore more mortgage interest and property taxes to deduct from my gross.
I would like to decrease my regular paycheck taxes to take in to account the higher interest deduction along [...]
Could someone please explain the details and risks in setting up an offset/interest saver homeloan?
Tique AM VA asked: I am considering doing this to pay off our mortgage quickly. Are there loopholes and dangers?
What would be best for my credit?
Jewelianna asked: We have about $20,000 in credit cards. We just did a balance transfer of about 4000 (equivalence of two cards) onto a card with 0% APR for 12 months. We’ll have it paid off in ten months now that we won’t have to battle the interest.
I was told that closing accounts negatively affects [...]
Medicaid for these circumstances?
GC asked: I know someone that needs surgery for cancer, but does not have insurance to pay for it. This is the situation:
He has a lot of debt right now. It is mostly due to losing his business last year. However, in addition he also has to pay a mortgage and his children’s school loans. [...]
I have a house for sale and live in an apartment. Can I treat the house as a rental property for tax purposes
themadchef asked: I moved to TN and still own a townhouse in FL. It has been on the market for over a year. Can I deduct any part of the mortgage or expenses? I know I can deduct interest expense. If this were rented out, I think I would be able [...]
Can a bank in CA use the “right of offset” without notifying the account owner?
lls7816 asked: I am in a situation where I could not make my mortgage after a divorce and close to foreclosure. My lender is also my bank and I found out that they took money from my children savings account to pay for the mortgage. I am on the children’s account. They said they have [...]
Should I close a credit card if it’s my oldest account?
Mystery Meat asked: This is the oldest standing account that I have, but the interest rate and limit are the highest of any of my credit cards and I don’t have the best history with it (since I’ve had it since my early 20s..). I’m going to pay the balance off this month, and [...]
Vegas foreclosure mess?
Mr. Shankley, Frank Lee asked: I am going in escrow in two days on a second home that I will use as my primary residence. I bought our current, small,1200 sq/ft home 4 years ago during the “boom” and have a 200k mortgage. If I try to sell our current home [...]
Which is better for my credit score and overall financial health?
Gerry D asked: I currently have a 30yr mortgage with an interest rate in the 5’s. I got into some trouble over the last few years and took out a 2nd mortgage and a personal loan.
My credit score has taken a hit in recent months, but I’m wondering what would be better for me [...]
Should I walk away from my home?
That Guy asked: I own a home in Florida that has become an anchor around my neck, and my wife’s. The 1st and 2nd mortgage are starting to become a source of friction between us because we don’t live in this home, and our tenants (who are family) aren’t doing their part to offset the [...]
