October 2009

A Buyer’s Guide to Rent to Own Homes

October 21, 2009

In 2005 I became a landlord. A good friend and I began investing in single family homes in the mid-west. We purchased two HUD foreclosures in 2005, and since then we’ve added 3 more HUD foreclosures to our portfolio. When we advertise one of our homes for rent, we always advertise the property as a [...]

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Quicken 2010 Review

October 16, 2009

I just received an e-mail today that Intuit has released Quicken 2010. Describing the new version of its popular money mangement software as the “must-have upgrade,” Quicken Home & Business 2010 offers several new features. Organizes your finances all in one place Improved, streamlined, and guaranteed easier Saves time by automatically importing your existing Quicken [...]

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Why Many NFL Players Fumble When it Comes to Personal Finance

October 12, 2009

Almost every breathing human being covets the life of a professional athlete.  The conception is that for a few hours a week, a professional athlete can earn millions of dollars a year in addition to the fame and lifestyle.  The skill set required is usually running fast, throwing far, or being able to shoot a [...]

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Conforming Loan Limits for Dummies (meaning me)

October 9, 2009

As I mentioned in an earlier article, we recently undertook what turned out to be a failed attempt to refinance our home loan. In the process, we learned just what a confusing mess the mortgage industry is, including convoluted rules that include various loan limits set by Freddie and Fannie. These are the government run [...]

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7 Lessons Learned from a Failed Attempt to Refinance a Mortgage

October 8, 2009

With mortgage rates at historic lows, we recently tried to refinance our mortgage. The result? Well, as my son would say, FAIL. For the first time in my life, I was denied a loan. (Actually, this was the second time. I was turned down for a student credit card in college.) Why I was denied [...]

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Welcome to the 85th Running of the Money Hacks Carnival (Saturn’s New Ring Edition)

October 7, 2009

Scientists have just discovered a new massive ring around Saturn. The ring starts 3.7 million miles away from Saturn, and extends another 7.4 million miles. The diameter of the ring is equivalent to 300 Saturns lined up side by side, making the ring almost as large as our national debt. So what does Saturn’s newly [...]

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List of No Penalty CD (Certificates of Deposit) Rates

October 6, 2009

I can still remember earning double-digit returns on high interest CDs in the early 1980s. I had saved a little money and was locking it away in 6-month CDs earning 12% or more. Of course, inflation was raging, and the interest rates on home mortgages had gone through the roof. But those were the days [...]

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How to Consolidate Your Debt

October 1, 2009

Debt consolidation and debt negotiation programs (DNP) are often associated with seedy companies more interested in helping themselves than helping consumers. The debt consolidation industry is largely responsible for earning this questionable reputation. The Federal Trade Commission, for example, warns consumers about the false promises many in the debt business make to consumers. And the [...]

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