Financial Schools Reviews

The most recent statistics issued by the real estate tracking firm the Warren Group showed that the number of foreclosure petitions filed in the Bay State rose to 1,192 in April, up 14 percent from March, according to a report from the Boston Globe. This was also the highest rate observed in the state since September. Typically, these actions are taken when consumers fall three months or more behind on paying their home loan bills.

“Banks are picking up their foreclosure activity,” Nadine Cohen, a managing attorney for a nonprofit that works with low-income clients, told the newspaper. “Th

Full Article…

In a small independent bank several hours from where we live sits a savings account. That account is in our names. It earns a solid interest rate but does not have an ATM card associated with it. It has about a month’s worth of living expenses in it.

In order to access this account, one of us would have to actually go to the bank and present identification to make a withdrawal.

Why do we have this account at this point? It’s simple. It’s our “hidden” emergency fund for when things go deeply awry.

Why? Here are some reasons we have it.

It’s convenient, but with an obstacle in the way. At any time, one of us could drop in at that bank, pull out the cash, and do with it what we wish. No question

Full Article…

I would like to know what you think needs to be done to help turn the Housing market around I personally feel that if is to ever be done it will have to come from within our industry I don’t think Washington has a clue on how to fix it because everything they do makes no sense to me and half the country. My idea stems from the one good program they have (FHA) and that was created back in the 30′s. So please give your thoughts and ideas and take a look at FHA SAVE and if you have any suggestions on how to make that idea better do tell.

I posted an idea on activerain that I think is pretty good. The concept is called FHA SAVE this idea stems from a conversation I had with Chris Boelter a Mortgage Pro.

Full Article…

You know what they say about practice — it makes perfect.

So it’s not surprising that, in an era that offers so many ways to screw up your golden years, “practicing retirement” is becoming a more common strategy.

“Many people haven’t saved enough to retire, so they are anxious because they realize they will have to keep working in their 60s when they had hoped that they would be having fun,” explains Christine Fahlund, a senior financial planner with T. Rowe Price. Full Article…

The New York Times’ Ron Lieber provides excellent reasons why 401ks should be required to offer index funds, and why you should consider investing in them if you have one in your employer’s plan. Actively managed funds, as opposed to index funds, have higher fees, which eat at returns, and they are usually riskier. Writes Lieber:

If your plan at work doesn’t offer an index fund, take Ron’s column to your HR department and get them to read it.  Writes Lieber:
 
For more on the basics of indexing and investing:

Read some of It’s Only Money’s past posts on indexing, including Passive investing — a great gift for the holidays & forever after. P Full Article…