On Jan. 2, President Obama signed into law the legislation designed to avoid the so-called "fiscal cliff." Included in the law was an extension of the law that helps homeowners whose property has been foreclosed from having to pay income tax on the debt that they no longer have to pay.Read More »
I am thinking of buying 2,000 shares of Bank of America at $12.45 a share. In the past 10 years, I have been in and out of this issue and have made good money each time. I believe that the stock can move to the $17 to $18 level this year, which could give me a good gain.
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My time-share maintenance fees exceed $2,000 per year. While this does not cause a real hardship on me, I was wondering what happens to the time share ownership if the primary deed owner dies. When I die — I'm 80 now — I assume the time share points go into my estate. And, if they do, does that obligate my heirs to continue to pay the annual maintenance fees in perpetuity?Read More »
Now that American Airlines is going to merge with US Airways Group Inc., do you think the resulting company will be a good investment?Read More »
I will be soon paying off, in its entirety, the mortgage on my home. For your information, I have been current on my payments throughout the 10-year term. The mortgage company is a credit union, and I intend to continue residing in my home. Upon full and complete payment of all that is due on my part, is the mortgage company obliged to record a release of the mortgage (deed of trust) in the land registry of the county or execute a promissory note release? What can/should I expect from the mortgage company in proof of the full and complete payoff?
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Like most of us, I am looking for higher yields on my certificates of deposit. I have a $7,000 CD, which paid 4.5 percent, that recently came due, and a neighbor, whose husband works in France for an American drug company, told me that they recently bought 300 shares of a French utility called GDF Suez, because it yields 9.2 percent.Read More »
I understand that when homebuyers sign closing documents, they are routinely required to sign a blanket form allowing the lender to access IRS records with no time limit. The form says not to sign it unless dates are specified on the form, but lenders routinely insist they be signed without any specification as to which years of IRS records are covered.Read More »
I know the Securities and Exchange Commission tells us not to use past results to judge future performance, but we must select five mutual funds for our 2-year-old granddaughter, whose parents are the most financially naive couple — my wife says stupid — in the Midwest.Read More »
I needed a professional whom I couldn't intimidate (this is important) and who would ask questions about my investment choices, keep me on my financial tiptoes and could make sure that my personal feelings or emotions did not compromise my investment decisions.Read More »
I own a commercial space that a title (escrow) company rented. When they closed shop back in July, they left all the files as well. It's a great starter kit for ID theft, and no one seems to care.Read More »