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ARCHIVED BLOG POSTS

2008 

According to the AARP, the median amount of today's inheritance is about $64,000. While that won't provide financial security for life, it is a lot of money and, therefore, requires careful planning before deciding what to do with it. The following tips can help you manage an inheritance. Step O...
10/29/2008
  The Federal Reserve is scheduled to meet this week and announce its new Policy Statement and Interest Rate Decision Wednesday...and will cut the Fed Funds Rate once again. This is no big surprise. Throughout 2008, the Fed has lowered key interest rates in an effort to stimulate the economy - i...
10/28/2008
If you are looking to buy, invest in, or refinance real estate now or in the coming months, your credit is going to play a more significant role in today's tight-fisted credit environment than it has in the past. It's that simple. Would-be borrowers need to address any and all credit issues now ...
10/23/2008
Ever have a friend or family member ask you for a loan? It can be awkward and may lead to a strained relationship. So before you decide to be a banker, consider these steps to help avoid a potentially ugly situation. Don't Commit Right Away. When asked for a personal loan, don't say yes right aw...
10/20/2008
In the past, a consumer with a FICO score of 620 was considered to be a low-risk borrower by Fannie Mae and Freddie Mac. Not anymore. After suffering major losses in the mortgage market last year, the nation's two largest mortgage finance lenders have redefined risk, announcing new Loan-Level Pri...
10/16/2008
The Elements of a Credit Score (click here to watch a video)A credit score is an extremely important financial tool. It provides access to the financing you need in order to buy a car, a home, or pay for college tuition, among other things. Since higher scores equate to lower costs and vice vers...
10/09/2008
I received a call today from a customer I had not heard from in 8 months.  He had contacted me originally about helping his dad buy a home.  The last few times I had called him in February he did not return my calls, so I moved on. Today he calls me out of the blue.  He wants to know if his dad s...
10/09/2008
Ben Bernanke and the Fed brought financial aid to the streets, lowering the Federal Funds Rate and Discount Rate by 0.50%. In an unprecedented emergency move, central banks across the globe joined in lowering interest rates. This move follows Washington's passing of the $700 billion Rescue Plan....
10/09/2008
If you work with First Time Home Buyers in the state of New Jersey, be advised that the New Jersey Housing & Mortgage Finance Agency has taken the unprecedented step of increasing their rates for the second time in as many weeks.  Due to Wall Street market volatility that has increased the cost o...
10/08/2008
The IRS permits a maximum exclusion on capital gain of $250,000 for individuals and $500,000 for married couples filing a joint return who sell their home, but of course some conditions apply.For the five-year timeframe prior to the date of the sale of your primary residence, you must meet the O...
10/06/2008
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Karl Peidl

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