Recently a new concept has been created that it’s OK to carry debt into retirement, including home mortgage. There is a big problem with that. Your income is a lot less than when you were working full time. You must service your debt, there is no way out. If the debt is at the proportion … Continue Reading »
In numerous parts of the country, many more mortgage foreclosures have come to see the light of the day, or perhaps the darkness of the night. That has created a market for buyers who can afford to buy the dwellings at a reduced – in some cases, much reduced – price. In the opinion of … Continue Reading »
A new group of the Poor, the Orphans, the Destitute (POD) have been created during the last couple of years. They are the good, decent folks who have lost jobs, foreclosed on their homes, declared bankruptcy and have lost their entire livelihood. A new landscape of websites have been created to list foreclosure properties. The … Continue Reading »
We have all heard and read stories about the new credit card laws – Credit Card Accountability, Responsibility and Disclosure – frequently know as CARD – Act. Let the credit experts point out the good, the bad and the ugly in the legislation that went into effect on February 22, 2010. Smart Money on its … Continue Reading »
Wall Street Journal reported Sunday, Nov. 15 By JOHN D. STOLL that General Motor’s turnaround effort will come under new scrutiny Monday as the company reports financial results for the first time since emerging from bankruptcy. GM is expected to update its cash position, indicate how close it is to earning money in North America, … Continue Reading »
Research by the Federal Reserve indicates that household debt is at a record high relative to disposable income. Some analysts are concerned that this unprecedented level of debt might pose a risk to the financial health of American households. A high level of indebtedness among households could lead to increased household delinquencies and bankruptcies, which … Continue Reading »
Bankruptcy can be ugly, but if you find yourself in the dungeons of human behavior, hold your head up and confront the issues head on. Analyze what you have been through in your financial life or better yet think and think hard about why you got into this mess. Fortunately, there are logical steps and … Continue Reading »
I am strictly against bankruptcy. But a time comes in consumers’ lives that they have no choice but to go bankrupt. If you are one of them and are reaching the end of your rope, don’t try to hold on. Save what you can. Bankruptcy A bankruptcy is always done in a courthouse in front … Continue Reading »
You know I started this blog named “personal finances.” I look for articles and essays, news of the day, news of last week and financial news, just in general. And I write a post or sometimes two a day. At least, I try to. I consult Wikipedia a lot for definitions of terms that I … Continue Reading »
