By Benny Kass
Published: May 6,2013
DEAR BENNY: I have been considering a 1031 action for some time, and I have wondered what happens if the intermediary holding the escrowed funds goes bankrupt. Is the intermediary allowed to co-mingle my funds with funds of the company? Is my money protected during his bankruptcy, or would I become just another creditor in [...]
By Malcolm Berko
Published: May 6,2013
DEAR MR. BERKO: We just had our taxes done by Jackson Hewitt, and I was told that we will get a tax refund of $1,340. The certified public accountant who did our return recommended that we invest in stocks. He said we could make a lot of quick money if we used his friend who [...]
By Jim Woodard
Published: May 2,2013
‘Tis spring, when homeowners’ thoughts turn lightly to images of vacation homes. Sales of those properties are rising, as they have been over the past two years. Vacation home sales rose 10.1 percent to 553,000 in 2012 from 502,000 in 2011, according to the recently released National Association of Realtors’ 2013 Investment and Vacation Home [...]
By Benny Kass
Published: May 2,2013
DEAR BENNY: My husband and I purchased a home in a new development. At the time we viewed the home, at the time we offered to buy it, and at the mortgage closing, no mention was made of any extra fees associated with having city water at the site. About 20 months after we (and [...]
By Malcolm Berko
Published: May 2,2013
DEAR MR. BERKO: Please tell me what you think of VCA Antech, which sells for $21 a share. A couple of folks we know have had good results with a VCA clinic. – SA, Wilmington, N.C. DEAR SA: VCA Antech Inc. (WOOF-$21) was known as Veterinary Centers of America before it changed its name [...]
By Benny Kass
Published: April 30,2013
DEAR BENNY: My mother had to be moved to a nursing home from her “independent living” house. This is a very small retirement community and is connected to an “assisted living” facility next-door. People who live in the independent homes can move into assisted living easily when the time arrives for more assistance in daily [...]
By Malcolm Berko
Published: April 30,2013
DEAR MR. BERKO: I would like to invest $100,000 of my individual retirement account (which is worth $330,000) in safe dividend-paying stocks and bonds. I am 65 and probably will start using some of this money for living and travel expenses. I met with a “retirement specialist” who is the CEO of his firm in [...]
By Jim Woodard
Published: April 26,2013
Does homebuyer counseling really lead to significantly lower mortgage default rates? The answer is yes, according to several recent studies. One such study by NeighborWorks America found that borrowers who went through a prepurchase counseling program were nearly one-third less likely than non-counseled borrowers to fall behind on their mortgage payments by 90 days or [...]
By Benny Kass
Published: April 26,2013
DEAR BENNY: I am the president of a large condominium in the Midwest and have just heard about a program called “mortgage termination.” It sounds fascinating and very useful for our condo, since we have a number of delinquencies with properties that are underwater. Are you familiar with this and if so, how does it [...]
By Malcolm Berko
Published: April 26,2013
DEAR MR. BERKO: In April 2005, I bought 140 shares of Johnson & Johnson at $72 (including commission). It’s now $80; in the past eight years, it’s gained only 8 points. I guess I should be glad I don’t have a loss. The company’s revenues, earnings and dividends (everything you consider important) have increased every [...]
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