About Your Money!: Comments

Comment on "Financial Lost and Found"

Tue, 19 Apr 2011 04:45:57 -0500

Useful information shared..Iam very happy to read this article..thanks for giving us nice info.Fantastic walk-through. I appreciate this post.

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Comment on "Financial Lost and Found"

Sat, 05 Mar 2011 08:02:51 -0500

Nice read, I just passed this onto a colleague who was doing a little research on that. And he actually bought me lunch since I found it for him smile So let me rephrase that: Thanks for lunch!

- Skil

Comment on "Early income-tax filing may not be your best deal"

Sat, 12 Feb 2011 09:12:26 -0500

According to the IRS statistics, the bulk of families claiming the earned income tax credit file their returns in February. I believe around 60% EITC eligible families claim the credit in February. I'm seeing families who have lost their jobs, had hours reduced, or even had unemployment benefits terminated during 2010 desperate to file early to get their refunds to try to keep food on the table and heat on.

- ROBIN KULECK

Comment on "Observations of the Mortgage Crisis"

Sat, 12 Feb 2011 09:09:53 -0500

A 30 year mortgage is not necessarily a 30 year commitment. Unless the mortagage has a prepayment penalty, homeowners could pay extra with each payment, and shorten the length of the mortgage. One strategy is to pay half the mortgage every two weeks which effectively makes one additional payment each year. Some mortgages are set up this way but sometimes have additional fees, reducing the effectiveness of this strategy.

Another thing people need to keep in mind is that even though you prepay your mortgage, you are still expected to make the payments as scheduled, rather than thinking you have paid ahead.

- ROBIN KULECK

Comment on "Early income-tax filing may not be your best deal"

Fri, 11 Feb 2011 18:06:39 -0500

Great advice. Many 2010 tax filing software programs can pull-in W2 and 1099 information from various companies so you don't have to wait for paper forms to arrive. However, I think it's best to err on the side of caution and wait to file. It's not uncommon to receive the odd 1099-INT, 1099-MISC, etc. well into February. Not to mention, since the Tax Relief Act of 2010 passed in late December, nearly 50 million taxpayers will have to wait until mid-February to file their returns if they're claiming certain credits.

- Suzanne DiAngelo

Comment on "Observations of the Mortgage Crisis"

Tue, 08 Feb 2011 13:04:17 -0500

What you said is very true. The common mindset for people is "why should I rent a place rather than owning one? I will be paying about the same amount every month anyway". This fails to provide for a long term view of a mortgage commitment. I read this article about rental over mortgage interesting as well. Borrowers has to realize that a mortgage is a 30 year financial commitment rather than just a monthly payment.

- Justine