Dear United States, Welcome to the Third World! It's not every day that a superpower makes a bid to transform itself into a Third World nation, and we here at the World Bank and the International Monetary Fund want to be among the first to welcome you to the community of states in desperate need of international economic assistance. The U.S. should accept some monitoring by the IMF." More
If you are a mortgage holder who is either struggling with crushing payments, bitter for having overpaid for your home during the bubble, or who has extravagantly refinanced when prices were rising, the government's landmark $700 billion bailout package has an important message for you: stop making your mortgage payments . . . immediately. Here's why. More
Knowing
your FICO score can help you save money on a car or home loan. The first step is
to know what is in your credit report. You can obtain this information free by
going to http://www.AnnualCreditReport.com. You are entitled to a free credit
report from each of the three national credit bureaus (Equifax, Experian and
TransUnion) once every 12 months. More
Independent Contractor vs. Employers who misclassify workers as independent contractors can end up with substantial tax bills as well as penalties for failing to pay employment taxes and failing to file required tax forms. Workers can avoid higher tax bills and lost benefits if they know their proper status. The address of the official IRS governmental Web site is www.irs.gov. More
With identity theft on the rise these days, most of us are already taking steps to protect ourselves. But did you know that there’s now a growing form of identity theft known as “medical identity theft” that can not only devastate victims’ finances, but also compromise their health, too. What is Medical Identity Theft? Why Should You Be Concerned? More
When an investor offers you $50,000 or $100,000 in exchange for 30 percent to 50
percent of your home's future appreciation, is it a good deal? That's what a new breed of investment firms is promoting as an alternative to
traditional home equity loans, lines of credit and reverse mortgages. Two of the investment companies – REX & Co. Absolutely. That may suit you just fine. More
Have you ever thought
of your path to wealth? Have you thought about your wealth goals and how you
plan to obtain them? Do you have a financial vision?This is the time to review and evaluate to see what your
goals are, and how you plan to achieve them this year. The first step is being specific
about what you want to achieve. A Path to Wealth can be
a holistic experience. More
Common Financial Terms
Collateral
Collateral is used to describe an object of high value that is used to guarantee the repayment of a loan. If repayments are late, or the agreement is defaulted, the collateral is taken in place of the repayment. Collateral is almost always something extremely valuable. More
WASHINGTON – Anybody who's been sitting on the sidelines hesitant to jump into real estate until conditions settle down should know these dates: April 9, 2008, through June 30, 2009. They mark the eligibility time span to qualify for the home purchase tax credit created by the massive housing bill approved by Congress. Eligibility rules: Do you own a home now? You are eligible. More
This year, one of the biggest tax changes is the zero tax rate on long-term capital gains and qualified dividends for those who are normally in the 10% or 15% regular income tax brackets. Single taxpayers whose 2008 taxable income falls under $32,551 and marrieds with income under $65,101 meet the requirements.
Steven C. More
