I have a confession to make: When I was doing financial planning, I didn’t put enough emphasis on Disability Income Insurance. I was hardly alone in this; Disability Insurance is one of the two most undersold financial products there is. The other is Long Term Care Insurance, which product I at least researched properly and …
Author Archives: admin
Paying Off Old Past Due Bills Without Hurting Your Credit
People sometimes ask how they can improve their credit if they have old collections on their credit record. Well, the answer is NOT to simply pay them. Paying off a five year old collection can cause your credit score to drop by 100 points. You say that makes no sense? Well, here’s the logic of …
Continue reading “Paying Off Old Past Due Bills Without Hurting Your Credit”
Why the Current State of New Developer Housing
I’ve seen many new home developments with vaulted ceilings, mini-vineyards, huge houses on little tiny lots…Why can’t some developer built some homes for us regular people?A normal sized home with plenty of closet space and a decent (not designer) kitchen that is set more than 3 feet from the neighbors house.I realize that they need …
Continue reading “Why the Current State of New Developer Housing”
Why Do Lenders Sell Mortgages?
When and Why does a Mortgage Company Sell your Current Loan to another Mortgage Company? Lenders sell their loans because the lender can make an immediate premium of anywhere from 2.5 percent to four percent by selling your loan to Wall Street. Yes, this is less than the six to eight percent per year interest …
Trying to Hurry Real Estate – Don’t
<blockquote> Hi–I just found your site today. The best I’ve ever seen/read, etc. Thank You!! I do have a question I didn’t see addressed regarding our current situation/dillemma: Our present home, which we’ve lived in for 8 years, is worth around $180,000 (yes, it’s a small town…), and we owe $105,000. My husband has been …
Translation: Salesgoodspeakian to English
It may not come as a shock to you, but loan officers, along with many other salesfolk, speak a different language than the rest of the population. What will probably annoy you, however, is the number of times they’ll say something that sounds like a phrase out of English, but really is from Salesgoodspeakian, a …
Continue reading “Translation: Salesgoodspeakian to English”
Time for Listing Agents To Earn Their Money
One of the most common things I’m seeing as I roam about the East County looking for bargains: Agents not doing their jobs. Now single family detached homes that are priced appropriately are selling, and for appropriate prices, even at 37 sellers per buyer. Condominiums aren’t moving unless they are brand new with lots of …
Continue reading “Time for Listing Agents To Earn Their Money”
Variable Annuities: Debunking the Ignorant Press
Found an annuity article in the local paper with an error so glaring that I had to debunk it. Here’s the article:Income for Life And here’s the critical error, conveniently in the first two paragraphs: Interested in annuities? The type known as an immediate annuity may pique the interest of some investors. But the first …
Continue reading “Variable Annuities: Debunking the Ignorant Press”
Unpaid Liens After The Sale, and Subrogation
I sold my house in (state) in august 2001 I hired a title attorney whose (local company X) acted as a agent for (national company Y). The facts are that there were errors and omissions which led to negligence in the performance at the closing of the property. The property taxes for the year 2000 …
Continue reading “Unpaid Liens After The Sale, and Subrogation”
Is This Supposed to be Helpful Legislation? (A bad example from Illinois)
A reader named Terri at Educating the Wheelers sent me an email giving me a heads up on the antics of the state of Illinois. here is the link. Here is the original article at blackprof. The link to the original source is broken, but here is the Illinois Department of Financial and Professional Regulation, …
Continue reading “Is This Supposed to be Helpful Legislation? (A bad example from Illinois)”