Just curious why suddenly people are so shocked that our economy has finally collapsed? Did people think it was easier to ignore it? It's been coming for a while now, so it's no surprise, and yet, people seem to be stunned that they've been affected. A lot of people kept spending beyond their means, and I know some were already living within their means and lost everything too, but how can we expect Obama to be a savior? How do we continue the "American Dream" with the crisis we're in, how do we recover? It's impossible to rescue everyone! Suze, what is the answer?

Hey Suze
I'm a full-time student who is taking out subsidized loans and receiving financial aid, yet college seems to be costing more than I can keep up with. Any advice on how to stop from drowning in debt as graduation approaches?

suze can a person that has a half million dollars buy two cds with 250k each and expect them both to be covered by fdic insurance?
"sean in santa rosa"

Suze ...

I am close to buying a condo in Los Angeles. I keep hearing about this $15,000 tax credit for home buyers. What does that mean and how would it work?

I make about $90 – $100K Is there a chance I would go through2009 not owing any tax or could this tax credit end up throwing me or anyone else in the Alternative Minimum Tax category?

Thanks,
George

Suzy,

I was laid off over seven months ago, I have put my house up for sale and moved in with my sister. My mortgage company has let me go into forebearance for three months. I will have to start paying the loan come April 1. My question is the housing market is very slow right now, when I start to pay back my mortgage I will only be able to pay probably around three months unless I have a job. I am getting unemployment but it would only pay my mortgage, and maybe the water bill, nothing else. I have maintained my credit up until now, so I will have to choose between car, insurance, bills or my mortgage. I would like to know should I try and hang on or foreclose. I have gone thru everything since this was the second time I have been laid off in my entire life. I would appreciate any input.

Thanks,

Kathi

If you have extra money to spare (besides an emergency fund) and the only debt you have is your mortgage, would you be better off paying down the mortgage or investing the money?

Lilibeth
Edmonds, Washington

Hi Suzy,

I am a first time home buyer in Las Vegas as of June 2008. I currently qualify for the $7500 tax credit under the Bush stimulus plan. Would I also be eligible for the $15,000 credit under the Obama Stimulus plan? If so, would I be able to claim it on my 2008 taxes? If I have alreaady filed for 2008 what action would I need to take and what are the qualifications of this plan considering I am hearing the criteria is different (1st timers vs. new & existing)?

Thanks,

Shneen

My husband and I are 42 & 41 with no debt, just a mortgage. We have two children 18 & 15. Our son will be starting college in the fall.
We have 8 months liquid and invest 15% in my husbands 401K and invest 12% in his ESPP. We both have IRA's and fund them each year. We also have investments in several Class A Mutual Funds. We have steadily watched our portfolio drop. Do we continue with what we are doing?

Suze, I know you are not a big fan of insurance, unless it is term life insurance. I am 50 years old, married with 2 children. I do have a $50,00 policy on my job. When I inquired about raising my coverage the lady who handles that suggested I aquire coverage outside of the job, because once I retire it will be harder to receive coverage due to my age, my health issues, (high blood pressure, cholesterol, diabetic.
I recently joined AARP and qualified for $15,000 coverage of life insurance, but I am paying $68 a month(which is kinda high for the small amount of coverage) That is not nearly enough insurance for my family when something happens to me, that is the largest amount I could receive without a health exam. Do you know of any companies that offer better rates, or who are sympathetic to someone with my health conditions. Thanks Suze we watch you faithfully, and value your opinon.

I am planning on withdrawing 1 (of 2) of my IRA's as for reasons that would take too long to explain. So I am beyond being talked out of doing it. I am 50 years old. My IRA that is staying put is $140,000. The other I am withdrawing contains $127,000. How much income tax will I pay on this money? I recieve $2,700 a month in child support for 30 more months. I made approx. $13,00 last year. I will probably make $24,000 this year. I have a mortgage of $127,000 in which I want to use a good portion of this money to use as a deposit and refinance my house. You are the only one I trust. Help me girlfriend!

I am sick (and tired) and would like to quit work. I will soon be 59. My husband just turned 60. We owe nothing. Our house is paid for and we have a little over $250,000 in cash options and IRA's. We net a little over $2200 a month from my husband's pension. Currently we are both working. Our monthly outlay to cover taxes, insurance, utilities, and prescriptions is about $1400. That leaves only $800 from his pension to cover gas, food, clothing, etc. We will be able to draw Social Security in a few years (if it is still funded) and my husband will also have another smaller pension approximately $400 a month at age 65. Do we have enough of a cushion to retire now?

I just lost my job. My Unemployment plus my wifes earnings are barely enough to cover bills. We have $4000 in savings, about $4000 balance on credit cards. My question is concerning my 401K. In Jan 08 I had a balance of $90K, because of poor performance my balance as of Jan 09 is $62K. I am contemplating withdrawing my 401K and move it to savings just so I don't lose any more, which we may have to depend on.

I just recently decided to become involved with a fincial service group called Primerica. Primerica is am affiliated with Citigroup. I will be an independant contractor for the company. My question is do they help thier clients and would they be good to work for them.

Suzi,
I'm trying to negotiate with banks to reduce rates ans may be balances on my revolving line of credits, to start paying off debts.
Debtors would prefer me to fail first and miss payments and then they are willing to provide assistance rather than from the first place make it possible for the me the consumers to pay off balances. I am willing to pay more monthly balances with lower rates to hopefully pay off my debts. But instead ever since I have contacted them they have increased my rates up to %28 to 34% and make it impossible for me to catch up. I graduated few months ago from graduate school live of credit cards to find job but meanwhile would like to keep my credit in good standing. It seems banks these days prefer you fail than pay offs, Please advice?

California

Suze,
My question is........... I heard that Senators says passed yea 61 and Nay 37 stimulus plan $838 billion already approved to help people and banks. Is that true?

My husband was recently turned down for a Home equity loan for 25,000 for an investment property, that currently has no mortgage he was told his fico score is 547 due to 3x 30day late on our current mortgage, this seems to be the focus of turning him down, when my husband also paid a loan off on an investment property for fifty thousand dollars, the economy was beginning to get bad and that proprty was sold just to payoff the debt, this loan was paid 7yrs into a 30YR FIXED, why is that these lenders are focusing on 3x 30days late

rather than my husband being a responsible borrower, who is being affected by this financial crisis in our world today?

Hey Suze,

I am trying to get into a Debt Management Program, but if I can not afford the consolidated payments of the credit card debt. What option would you suggestions?

Thanks
Rodney Fostert

Dear Suze,

I am a 55 year old woman whose husband suffered four brain stem strokes and was diagnosed with MS this past June. The problem is that I spent my in herritance and the funds in my bank account to assist us with our mortgage payments when we moved from CA to AZ for his life saving and very expensive drugs. Needless to say, eventually I could not make the payments and support us to. Our Cobra costs were $ 983 monthly and the monthly prescriptioins Medicare would not pay for were an $ 900 per month as well. We lost our home to foreclosure in 2008. The lender bought it back at forecloser for $ 215,000 but the lender then sold it for $ 153,240.00 and then sent me the 1099 with a market value of $ 265,000???

This was a refi of a $ 200,000 original loan for $ 318,000. I used much of the funds for improvements, ie patio, floor covering, front and back yard that had to be done due to homeowner requirements, what would you do, am I better off with the value at $ 265,000 when the tax form is computed or should I have the lender lower it per the county tax records. Please help me. Thank you, Lourey

I have a theory about the tremendous spending the govt is doing and how it will create jobs: put the country in deep debt, devalue the US Dollar, and in the meantime rebuild the country's infrastructure, creating reverse out sourcing of jobs back to the USA. Think of it, a country with a weak currency, advanced infrastructure, with skilled workers, may be worth the little extra a major corporation will have to pay to make things in the USA. Quality would be better better than anything that could be made in China & India in a Western country, that offers cheap labor & good infrastructure to move goods and services globally! Can't do that if the USD is too strong, so go deep in debt, and devalue the USD by 70 % after this stimulus bill goes into effect. That's how we create jobs-re-outsourcing jobs back to USA.

I'm seeing a lot of layoffs everywhere - I got laid off in May - but now I'd like to see some of these knot-headed Republicans lose their jobs!! Just how fast would we get a stimulus package then!

Hi Suze,

Few years ago I opened a Roth IRA account with $4000 but right now Ithe economy is so bad that I have only around $2800 left. I'm very worried that I will end up losing all my money. Should I close my Roth IRA account and take out the rest of the money?

I'm not rich. It's all I have......

Wei-ting from NY

Suze,
I've been hearing over and over on the news that the government wants to put money into the hands of Americans to get the economy moving, but they're afraid that people won't spend it, they'll just hang on to it. Why doesn't the Government issue each family the equivalent of a "gift card" or debit type card worth $5000. that can only be spent like a Visa at any store? No cash back, only purchases toward food, clothing, gasoline, restaurants, any typical credit card type purchase to get money flowing through the system.
Thanks
Jess Rathburn
Friday Harbor, Washington

Hey Suze,
I invested into a retirement 403 (b) by payroll deduction and the company has converted this plan into a 457 deferred compensation plan. Should I pull out or continue. Iam 38 years old and I have about 3k invested. I work for the city government.

Suzy

Whast is a person do?i'm curently working for a small buisness whose contract is about to expire when the factory closes at the end of October . I have little epxiprence only one area cleaning offices,but am looking for new challenges what's the best option to go into what are the best jobs toi go into?

Thank you
Michelle D.

My single daughter,mother of three,very good work history, wants to buy a house.With the perks from the stimulas pkg.,tax credit,hopefully low interest rate,(4%),is this her time to buy?

We have put money in a mutual fund for our daughters college fund. We have lost more than half of the money. We will need the funds in the fall of 2010. Should we cash in now or wait?

Hi Suze – I have been working on credit card companies trying to get my interest rates reduced or negotiate payments. One of the companies I contacted is willing to reduce a $14,900.00 balance to $7,500.00 if paid today. I did pay the balance of $7500 and they said they will "settle" the remaining $7500. My question is what does this do to a crdit report and score? Do you know how it shows up on the report? They said I will receive a 1099 for the $7500 they have settled, and they have closed the account. Any information is helpful – Thank you. Patty

Hi Suze,
My husband and I live in a suburb of Detroit Michigan. We've made alot of mistakes along the way, had some bad luck, and one of us works for Ford. We filed for banckruptcy 2 1/2 years ago. We are almost done paying it off as it was a chapter 13 at 100%. We are essentially starting over in a few months. At 43 with no savings what suggestions do you have to get back on track and start building something for retirement?
I am scared of the stock market, we lost so much over the last couple of years on what we did have in 401's. Is a money market savings a better route for us? The economy here is the worst in the nation...Help!
Thanks,
Kim

suze,

I am recently married and we have a joint bank account. I m always hearing that women should protect themselves and have safety money. If i open a secret bank acount would i need to put it in my taxes? We file out taxes together. How can i keep it a secret if i need to claim it in our joint taxes?

thanks sheila

I lost my home and all contents. How long will this be on my credit? I only have about $1000.00 in savings. What is the best way for me to build some financial security, clear my credit of debt and have some retirement. We have 401K but the match stopped. I am 62 and I would like to have a home of my own again. Please help me.

When I inherited 1/2 of my mother's estate in May of 2007, I invested all of that money with Edward Jones...thinking, (as well as being told by everybody) that was what I should do. Needless to say, from the time my money entered the market in August of 2007, I have lost almost half. I never even got the benefit of making a small profit before the markets started falling.

My investor continues to assure me my stocks are stable and strong and will come back. However, after losing almost $100K, I am freaking out and would like to just take my losses in order to regain my peace of mind.

Should I pull out and pay off my $88K mortgage, or stick it out? Also, my husband works in the oilfield and could possibly lose his job at any time, so maybe we would be better off just to get out of the market and put the money in an account so that we could get to it if we needed it.

Thanks for any help!

Dear Suze:

My siblings and I have a total of $500K for buying a house and for living expenses. We live in Southern California and are all retired so that we can't claim tax breaks for paying mortgage. We need a shelter of our own to live in, but housing is still extremely high here compared to other parts of the country. We've been waited for a long time for the price to go down to what it was at least 10 years ago, but it doesn't seem to be the case yet. Is it a good time or right time to buy a house for people like us now?

Thank you
Anaheim, California

Your response will help educators in many states. Question: Upon retirement which is the better option? Taking a lump sum plus monthly pension or fixed monthly pension with higher monthly payout? In my case I would receive $189,000 lump sum plus $45,000 a year or I can receive $56,000 a year with no lump sum.

Hi Suze,
My sister and I inherited several ira/roth accounts when our mom passed. With the current economic climate, what do we do with the funds? They are invested in some money markets, stocks, etc. How will this affect our taxes? We both have kids going into college. They are planning to apply for financial aid, how will this affect them? So far the statements we've received show a decrease in the investments. How should we invest? Should we pull everything out of the market and invest in cds, gold, bonds, money markets? Thank you for any advice and help you can give us.

Suze,
I want to get back into the stock market, isn't now a good time. I mean how low can they go?

Also, I have my 401k with ING but it is not FDIC even though it is in their money market account, why isn't their MMA FDIC?

I recently purchased my 1st home July 2008. I just had my taxes done a few days ago, and my tax preparer stated that I probably wouldn't qualify for the $7500 because, as he thought that ,if I borrowed the down payment money from the government that's how I'd recieve it. I'm confused, do I or don't I get it, and will it have to be paid back at all? I took the money out of my 401k & it's getting paid back.

Dear Suze,

Since the passing of the stimulus plan this morning, I have heard several comments regarding what most Americans would like to see. I happen to work in customer service and have an opportunity to hear my share of opinions... Thus, I would like to know if the tax cut amounts for families and individuals proposed by the Senate bill have been studied to be enough to stimulate consumer spending? It is my understanding that the last time we had a tax cut, it was found that Americans did not spend it as thought and failed to stimulate the economy as predicted because the money was used primarily to pay bills.

Most of my customers state they can barely pay their bills now; and are finding themselves falling behind the more scarce incomes become. Because they feel that any tax cut less than the thousands would not be enough to encourage any type of consumer spending, could there be any truth in the possibility of a tax cut over $2000 for families and individuals to be more effective in its objective?

Suze,

What exactly is the stimulus plan going to do to help the actual homeowner DIRECTLY? We've been riding this out and now finally our home value has dropped below our mortgage. Who determines what the home is worth and why don't I hear this as the second most important thing to creating jobs for people who've been laid off?
The working class people have to be ABLE to stimulate the economy. But i'm not buying a daggone thing when I'm in a situation like this! My only relief is that I plan to be in this home for at least 10-12 more years.
Diahann
Afircan American
Democrat

Hi Suze,
Two months ago I stopped contributing to my company's 401K plan. Th company does not match. After so many months of losing money I decided to take that money and put it into my online savings account that has been paying more that 2%. I am very diligent on taking that money every month and transfering it to my savings account. I also have about $1,000 more that I deposit into my savings every month.
I don't have any debt, except for a $127,000 in mortgage. I have more that my 8 months of emergency fund as well. I was planing to wait until the economy starts giving us positive signs to start contributing again.
Is this a good idea?

Thanks,
Elba

Hi Suze,
I was married for 22 years before getting divorced. During those married years, my Ex-husband was the main income for the family however, after our divorce, I did very well in my career and I make substantially more than he did (he is currently unemployed due to economy). I unfortunately, have never re-married – he did, but ended in a second divorce. My question is: can my ex-husband, collect from MY SS benefits when he retires? If so, does that reduce the amount of SS I would receive when I retire ? We are both in our 60's.
Thanks Suze !

What about medical assistance for the mentally ill? A close family member of mine could not take the mental pressure, lost her job, apartment and jumped from her 4th floor apartment building. How will the growing number of people experiencing mental breakdowns and others with bipolar, schizophrenia get the treatment they need and what about the impact it has on family members? I still am trying to handle this situation and it puts a strain on my work perfomance and personal life. Do see an increase and psychological disturbances?

Hi Suze,
My question is related to all the "jobs" that are suppose to be created by the new ecomomic plan.
How will those job positions be filled? i.e. first looking at the people that have been layed off and desperately need the jobs ? I believe the jobs that will be created may not be filled by those that REALLY need a job i.e. the Americans that have been layed off and are older or "over qualified" and cannot find a job, or get turned down because of thier age ! I understand employers are not suppose to discriminate, however, we ALL know it's an everyday event. So, how can these new jobs be fairly filled to get the best results for Americans????
Perhaps the Government should look a little deeper into your motto ....."people first" and think about how the job filling process should be handled ! !
Thanks Suze and keep on doing what u r doin' 'cause Americans need your guideance ! !

Hey Suze um......
listen see i am a single mother earning 1600$ per month having 4 kids (15, 16, 18, 20) the 18th and 20th year olds are in college but the college fees seems more than i can bear.
Me and the other kids are living in a small apartment + we need bigger space so i'm planning to buy a house.....
It's really hard, what do you think the type of house should i buy that may not cost so much beyond my salary?

with best regards,
Bianca

Suze

How will the stimulas package help people whoms credit score has been destroyed due to the economy? Does the stimulas package have any details regarding peoples credit?

I worked hard to clean my credit up, buy a home, and now with the layoff I was not able to pay my mortgage on time. I called the mortgage company, they set me up on a loan modification, only to find out that it was denied 5 days before I was to start making my new payment.

Suze
My question is the $ 827 billion is to help the banks or people?
and how much of this money will be used to create new jobs?
What jobs are in demand right now ?

Thanks Suze
Michelle D.
Ontario ,Canada

nice blog.keep it up.

keep it.Best blog in the network.

Nice blog.Keep it up.

We were told by our financial advisors that a 4% growth was the average to be expected during the 20 years that I have participated in 401K and IRA, and Annunity programs. I have lost half my money which was 20% of my gross income. Am I to believe the advisors when they assure me that "the market will come back?"

I keep getting these phone calls about "LOAN MODIFICATION'S" from lawyer offices that want to help us get our loan % rate reduced. They claim they as "lawyer's" can get action with our bank loans that we can not get. For a fee of $1700-$2500 they can get our loan reduced to between 3%-5% interest rate and reduce our monthly home loan payment. This all is based on that we bought our home for $160,000. and now the valve is $120,000. Are these 'LOAN MODIFICATIONS" a scam or what???? Susan Smith

Please explain "People first, then things, then money". I'm a little confused how that can be applied. Thanks, Ann

I am becoming increasingly concerned with the foreclosures reaping havoc like locusts on our hardworking, unfortunate citizens. So far I have been lucky enough to escape. But, my 15 years of supplying the automotive industry with components is not enough to keep me from hanging on by my fingernails as we speak. If the banks can ask (and receive) money from us for their extravagant frivolities, why can't they be forced to either work with the hard hit families faced with foreclosure or GIVE OUR MONEY BACK?

Can the government freeze all foreclosure actions against those who don't have other homes to fall back on?

On another front, hypothetically, if a person/family loses their income and depletes their unemployment benefits, can they take hardship withdrawals from their existing 401K accounts and apply those funds toward living expenses/mortgages without the penalty of high tax rates being applied?

Nonz in Lyons, NY

Hi Suze,

Tell me what is best for my retirement fund. In May 2008, I rolled the sum from my TSP Savings, which was required because of my age. It is an IRA in the American Funds. I am not withdrawing an money from this IRA and so far over the past 9 months, I have lost over $6,000 . What should I do so that I don't lose more??.

Thanks for your help

Pat
patsyhbell@cox.net

Hi Suze,

My company has closed our 401K plan so I've got to decide how to invest
what money I have left. Of course, I've got to put the funds into a IRA but my question is: How do you feel about annuities versus cds. The investment guy I've talked to is highly suggesting I invest the majority of the funds in a fixed annunity and a small portion in a variable annuity.

The amount is approximately $24,400. The investment advisor is
saying I should put $20,000 in the fixed annunity for 7 years. I realize the interest rates are higher now than cd's but I'm concerned about tieing up my funds for that long.

Thank you Suze for your time and help. I respect your ideas and opinions.

Linda Ener

Hello Suze,
I would like to buy a house this year and I was told that I should not completely payoff my credit card. They said that the banks would look at this a lot of money I could potential use. Is it better to have the balance at $0 or to have some balance on the card.

I have about $8500 in credit card limit over 4 cards of which I have a balance of $3000 for my business expenses.

Thank You Suze,
Charmeece

Hello Suze,

My husband and me will be receiving a refund this year on our 2008 Tax return. My question to you is what is the best way to invest this money? Although we do have some debt credit card debt do you suggest paying that down immediately or do you suggest just placing it into savings account, a cd or any a money market account?

Hello, Suze!

I'm a Brazilian who have snooping around here in AC.
I have some questions for you, even because Brazil has a past and present linked in economic crisis. The future belongs only to God!

Similar to a country budget, the families needs balance its budget and adjust your spending pattern to availability. Also, we should not have debts long, but try to have a reserve fund.

Suze as people with jobs can do that?
And the unemployed, is there any chance to achieve this?

Hello Suzie,

When do you expect a slow and steady appreciation in the stock market? My husband's employer was expected to have their IPO early this year but put it on hold until the market recovers. I was told the stock market will recover long before the housing market. Is that true?

Thank you,
Valerie

Dear Suze,

My husband and I have a lot of cc debt (about $37,000) and we are working very hard to pay it off, but now all my interest is going up due to the "economic enviroment". My interest is already considered high and now it is going up even more. What should we do? Do we just have to accept the increase or should we cancel the cards and start over again when our debt is paid off?

Thank you for your help!

Michelle

I am am 56 years and have lost 1/3 of my retirement savings. Am I still young enough to kick back and wait for the economy to rebound or should I be doing something specific to salvage what I have left ?

Thanks
Christa

Suze,

Many times we see the Government inducing (even incognito) the people to spend more, in time of crisis.

Why ??????? It should not be the exact opposite?

Would be because it's interesting that the capital moves, so that banks, finandeiras, real estate, industries, not succumb?

But the citizen, as it is?

Suze,

We hear in the press: 'it is time to act and not to be' entertaining' with the seriousness of the situation.'

Act like?
For those who are unemployed?
For those who lost their investments?
For those who lost their home?
For those who still have all that, but don't trust the future?

Thanks

Hey Suze,

Friends of mine are planning to buy a new home and then bail on their current home. What is going on with this whole buy and bail trend I've started hearing more about. What are the implications? It seems morally wrong in my opinion, but is it financially smart for the homeowner?

Thanks.

Suze,

Who invests in the financial market, but this money is, more or less, your reserve fund, which do?

These people need only take care?
Or you advise to stop investment?

Thanks

I make about 60,000.00 a year will obama package help me with my tax i am a single woman about 55th year old. Wish I could retire at my age should i get more life insurance for my family. I have not been saving any money just live from paycheck to paycheck how can i learn how to save money at my age. So I could have good retire nest. I am a bad girl.

Hi Suzie,

I'm 2 years away from retirement with $1.475 million in 403b + IRA, earning an average of 5% in TIAA, a $100K 30 yr. fixed mortgage @6%; no other debt. Maxed out on SRAs, IRAs, etc. Just inherited $175K. What would you recommend I do with it?

Suze,
I was wondering if you could explain loan remodifications a little more. I currently have a lot of equity in house and also a lot of debt.
I have been on a forebarence agreement for 5 months and finally I have the name and # of the person dealing with my case but he said something yesterday that I was totally unaware of. He suggested I not make my forebarence payment this month and hold the money in order to pay for a new tittle insurance? I currently have quite a few liens and not sure how this would work? He said he would try and get around this and I do not know what that means? When a loan is remodified does it require new tittle insurance? My loan servicer is Indymac and my investor is Countrywide. Would they still be first over liens? I got into this situation about 8 years ago so they are just starting to come off credit report and I thought I would just wait for liens for a couple of years. Thanks

I am currently in a debt management program, but I am still struggling to meet that monthly payment. My husband has cancer and needs treatment and the treatment center is requiring his deductible up front of $5K before they will even start treatment. I have completed my tax return for 2008 and I owe the federal and state(s) $5K. At what point should I consider bankruptcy?

Hello Suze
I am grateful for the information that you impart to your viewers, who would have otherwise been stumbling in the dark on many issues.
My question is about a mortgage situation. I have a mortgage which had been current up to December 08. I did not receive a letter sent to me by the mortgage company advising me to purchase hazard insurance on my home. Subsequently, the company purchased the insurance and tacked on an additonal $300.+ to my mortgage payments.
Unknowingly, I sent the regular payment (Electronic) to the company on December 5. This payment was rejected because it was short . I only knew of this until I started getting phone calls from the company and I immediately corrected the error in January. The mortgage company sent me a refund check which I received during the last week of January. Now I have a 30 day late payment mark on my credit report. Is this right? I had never been late on my payments, nor have I ever missed a payment. They did not budge when I asked for them to remove the notation on my credit report.
Thank you for any light you can shed on this matter.
I was away from

Please give us your comment on the 500 billion dollar withdrawl of capital by 5 hedge funds in September 2008. This caused the panic that we are living with now and made the bank rescue necessary. One hedge fund was run by a Senator spose and handled government workers pensions.

Hello Suzi!!! i am 57 years old, i have # 50.000 dollars, i don't have 401(k) where do you think i van invest it? is it good to search good stock now and buy one? please help.

Suze,

Me again:

Let's suppose ... some money left, at the end of the month, what should I do?

• Pay any debt?
• Save? Where? (under the mattress? Banks?)
• Investing?

Thanks

Suze,

What a person should do in times of crisis, to be a difference?

What I mean? If someone is losing, someone is winning (this is consistent?)

What the person must do to be the winner and gain the crisis?

Thanks

Hi Suze,

I am 36, and wondering what to do with my morgate I have only had my home 2 half yrs my payment is $4042 a month with a intrest rate at 7.65 I want get a lower rate I have never missed a payment always on time with a FICO score of 730 but I have no equity in my home what is the best way for me to get a lower rate?? I am self employed making about $2400 a month or more and $1000 month at my second job and my tenent pays $1650 month for rent ,but it is hard for me to pay my other bills because my tenent doesn't always pay on time. I really need some advise on how to get a lower intrest rate I have no money to put down on re-finance PLEASE HELP WITH ANY INFO

Hello Suzee,

If somebody wants to steal my identity,- make me a victim of identity theft-, what are the preventive steps I need to take, in order that I don't fall victim to these nuts.

Suze,

If I am an enterprising ... those who built all the hard costs your assets, creating what did not exist? Those who can not stay in the same line?

What do I do? Control my impulses enterprising?
Follow forward?

Thanks

PS. Suze, sorry so many questions, but I was born and grew up living it. It's great take my doubts with you!

Suze,

Many say that the crisis will pass by the end of 2010. Only remains for us to survive until there (as if it was easy).

You believe that?
We are at the beginning of 2009 – what to do to survive two years in crisis? (Heeeeeelp!)

Thanks

Suze,

Who has not left the stock exchange, to leave out? Or is it worth it to buy more shares?

Personal question:
And the dollar? Assuming that I will travel in a short time, I must buy dollars now?

Hello Suze,

Can government / should they apply basic financial rules? Here are a few questions interested in you thoughts. I think the House and Senate must answer.

“Do you personally spend money you don’t have?” Why do you think it is ok to spend money the country doesn’t have? What is the plan to pay it back? When will it be paid back?

Would you expect this to be part of the foundation of any plan?

I believe every Senator and House Representative owes it to the American people to ensure due diligence is done and completed before putting this additional debt on American.

thank you for your thoughts,
K – from Windsor

I have been making 11 % interest only payments to a private local lender on my house for 4 years and I have 4 years left until it balloons. I owe 126 k and the house is worth 300k.
I really need to re-finance and get a lower payment because I'm struggling every month, but my credit score is under 600.
I've never been more than 30 days late, but my lender warned me that if I ever go 32 days past due they will foreclose in accordance with Montana law.
Everything I have worked for is in this house and I'm worried I might lose it all.
I'm helping Bail out these Banks with my tax dollars, but are they going to be of any help to me ?

My job is fairly secure and I just got a $23,000 bonus. Should I use the bonus to pay down my car loan ($23k) and student loan ($24k)? Or should I save it just in case I get laid off? My only other debt is my mortgage ($303k) and I'm current on all payments. Thanks Suze!

Suze, do you believe gold is a good investment during these times? If so, what is the best way to purchase it?

Thank you.

Suze,
Shouldn't the answer be for the gov't to do almost nothing? Wouldn't it be better for the country to stop living on credit?

Ultimately, the politicians caused this whole mess by removing some banking regulations and then forcing banks to make loans to non-credit worthy people. Now they are covering their butts with all of this stimulus stuff.

Of course, people overspending didn't help either.

Everyone that did wrong should just have to suffer the consequences.

You mentioned on this program before that the housing crisis is the most urgent and important element in our country’s financial troubles. How will TARP address the housing crisis and when will we start seeing results?

Lilibeth
Edmonds, Washington

Suze,

My fiance will not get married until my FICO score is 750+. Does my credit score affect him or his business directly if we get married and do not have joint purchases?

Paula

Hi Suze, I have 2 questions. One, why not let the banks fail? CEO's of these banks just don't seem to get it and they need to be brought down. If we bailout the banks, the same people will still be in charge. Nothing will change! Restrictions won't work – they won't abide by them. They think they are above any restrictions. They don't know how to run anything – that has been proven. Second question, I read a comment about giving all of us a debit card with a certain amount of money on it to be used for essentials – like food, clothing and gasoline – no cash! Why is that not a good idea? Makes sense – gets money back into the economy.
Thanks, Mary

Hi Suze (and Anderson),

I am 34 years old and my husband is 32. We really want to get our retirement investment going but I am a little hesitant because of the current state of the economy. I know that I want to open Roth IRAs for us but I don't really know where to open them and what investments to choose to insure that we don't lose any money. I don't want an aggressive broker that is going to take a percentage of what we invest. I would prefer to do it myself online, if that is safe to do. We are lucky enough to have enough money aside that we can both contribute the maximum for 2008, I just want to make sure that I make the smartest and best decision to protect our hard earned money and set us up for the future.

Thank you girlfriend!

Hello, I'd like to re-word my question:
- – - – -

You mentioned on this program before that the housing crisis is the most urgent and important element in our country’s financial troubles. How will TARP II address the housing crisis and when will we start seeing results?

Lilibeth
Edmonds, Washington

Why isn't the stimulus plan addressing the credit card crisis? Do they not realize the way the banks they are "saving" have extended credit to customers? The banks are able to change or increase the percentage rates whenever they want and charge huge penalties for late payments that you cannot get caught up on, ever. This leads to bad credit, the inability to pay one's bills much less a mortgage, and the social shame of being "unworthy" of credit when the opposite is true.
I would like the real problem addressed without the insult of bank ceo's getting a bonus because of my interest payments.

Why dont they omit the income tax? That would give everyone more money in their pocket right now. That could be ONE thing right now.. that everyone would agree on... People would feel better.

Suze:

All this talk, the Congressional Hearings of Bank Leaders, the Stimulus Package being worked out by members of the House and Senate is welcomed, not a issue at all from me...it's necessary or we're in a world of hurt...

Here's an issue that has been rarely spoken about during and post election, and that is Veteran's dealing with the broken beaurocracy called the VA!!

I am a medically retired US Marine, after having spent 14 years of my life devoted to my Corps and Country..DOD gave me 60% disability, I am now 100% disabled by Social Security, and the VA is still saying that I am only 20% disabled.

I have hired a civilian lawyer fighting for my rights as a Veteran, and have enlisted the help and aide of both a Congressman and Senator...all to no avail...this after being diagnosed and treated for PTSD rated as "severe" by the VA....

I realize that there are equally as important issues out here in our country, but when Veteran's who have done the unthinkable in the name of liberty and freedom selflessly for years to be treated like this is a true travesty and totally unacceptable. We are not just "numbers" that the VA views as numbers they must pay...we are real people, with real issues caused by our military service....we aren't asking for a handout, we are asking for what is right.

S. J. Ramsey
SSgt USMC (Ret)

My question:
Suze, what is the real deal with Obama's stimulus plan in regards to how much it will likely affect increasing our federal income taxes over the next ten years? And, which country are we borrowing the money from?

Suze,
After reading Indymac's remodification process I see something about how it best affects the investor it looks like if you use their formulas you can not have much equity? I am not totally understanding the formulas? LTV? NPV IS THIS NET PRESENT VALUE? NPV OF FORCLOSURE? I was told about 8 years ago I could not do a bankruptcy because there was to much equity in the house? Is this a viable option? Do you think these remodification companies can get better results than the average person? They claim so, and the BBB rate as a B because they have not been around long. Any thoughts if they or a laywer could do better? Thanks

Hi Suze,

I'm a small business owner in the professional services industry (I'm the sole employee, in business for 10 years), and while I'm fortunate enough to still have a lot of work requests coming through, I'm finding that clients are increasingly paying late or insisting on payment terms that cause cash flow problems for me. American Express recently cancelled their business credit line program which I used to bridge these cash flow issues. I'm now looking at the grim prospect of selling some of my retirement funds at a loss and penalty in order to put more money into the company to cover my short term payroll and operating expenses. I wouldn't consider this if contracts weren't coming through, but despite my cash flow issues, business is good. These continuing cash flow issues have made it difficult to hold onto any reserve funds I build up, though.

I've lost hope that business credit lines will be back any time soon, and my needs are immediate. Can you think of any other options or programs I should look into?

Also, what are your thoughts on a temporary moratorium on payroll withholdings for 2 years as Steve Forbes suggests? In my case, it would have an immediate and powerful effect. People would have more money in their paychecks for expenses and increased consumer spending. All of this sounds good, but I haven't heard any serious discussion about it. Why not?

Suze,

I've had two mutual funds for the past four years, and over this past year, their value has been cut in half. Would you recommend that I keep the money in the mutual funds, or move them over to a CD?

We are a family with 2 young children. I have a masters degree but can't find a high paying job. My husband was in management positions for over 15 years and got laid off 5 months ago. We have been desperately looking and can't find a job for him either. We bought our house for only 200, 000 when it was valued at 460,000 dollars – now the value is at 200,000 but we can't even pay the mortgage/interest/insurance and taxes (1800 dollars a month). If we go into foreclosure how do we stay off the streets – with hardly any income we can't even pay rent? Where can we go for help (I make 900 a month and my husband gets 1100 unemployment)?

Suze,

The crisis over! Yes!

And I survived. So, what do I do?
¶ I wait to make sure?
¶ I invest again?
¶ How I can, really believe in the end of crisis?

Thank you so much ... you're GREAT!

Here's the deal: husband laid off 6 mos ago-over 55-we both have lost 1/2 of 401K-no new job in sight. We own our house but it is way underwater now. We also have an RV that is way underwater too. So selling either is not a good option. Income now is mine and unemployment. We have about 6 mos. worth of savings. I think we might be able to keep the house, maybe. What is more important? Saving credit score by using all of 401K from husband to make up the difference in selling RV, about $30K? Or turning it back in and taking the hit on the credit report for 10 years? This would only leave my 401K which is about $60K.

Suze,

We are first time grandparents and we would like to start some kind of account for her and any future grandchildren. EE saving bonds, saving accout, stock market? We would be starting with $500.00 and anticipate adding more on each birthday.

Thank you for any suggestions.

Renee
Post Falls, ID

Suze,
Will people like me on Social Security Disability receive the stimulus package? I do not file taxes on this income.

When you are referring to the middle class, what income are you speaking about?

Thank you so, you are true asset to all around the world. , Audrey

Suze,

Thank you for all that you do to make finance and investing easily understood.

We now live in an era where paying off your debt, maintaining a good salary, and investing in retirement does not guarantee economic prosperity or even stability.

Will you explain in a brief overview (likely drawing from your new book -Suze Orman's 2009 Action Plan) what the "average" American should plan to do with their finances, hold as is or change their investment strategy.

Keep up the great work!

Kimberly from San Marcos, California

Suze,

More questions, if you allow me:

In the midst of a crisis, when a core product (basic) is on promotion, it is advantage to buy more than usual to enjoy the lowest price?

Suzie: When I purchased a home more than 20 years ago, I paid private mortgage insurance for about a year. Why isn't the PMI industry paying for all of the losses on the mortgages? Have you investigated PMI?

Suze
What is your opinion of Universal Life Insurance. You said in the past that it is a scam. How is it a scam?
Regards

I switched my IRA from the stock market to an indexed annuity this
December after losing about half the value. Was this an O K move?

Hey Suze,

I have heard you talk about rolling an IRA into a Roth in 2010 and pay nothing.....Would that be true for a 401K? Could I roll my 401k money over into my Roth 401K? It is throught the same company? Thank you for your time!

Hi Suze,

In an episode of your show last year I believe you mentioned that a loan one may give (let's say between relatives) that is not paid back can be claimed as a loss on one's tax returns. You suggested getting a signed agreement from the borrower to pay back the money, along with their social security number. Could you please refresh my memory on what steps are needed in order to do this?

Thanks in advance, and I LOVE your show!

Suze,

Please, and those working with 'unnecessary' (culture, art, entertainment, etc.). What they should do, if the citizens give it a while prioritizing other things?

Thanks!

I fear that these bail out packages are going to stimulate the poor behavior (instead of the economy) that got us here in the first place. Please explain how bailing out people, who chose to get into mortgages they could not afford, is going to improve the economy. We're giving money to people that have already proven that they cannot be financially prudent. My children (maybe even my children's children) will be paying for this. This seems to be a high price to pay to correct other peoples' poor decisions. I learned that to rob Peter to pay Paul was always a financial mistake. Isn't that what these bail outs are doing? I've never been in better financial shape (mortgage paid off, retirement is well funded, emergency fund, a job (for now), college fund for children) and I am really frightened. I didn't get a $7,500 break on my first mortgage, I got a 16% interest rate. Please Suze, provide some clarity about what these stimulus packages will do for this economy.

My husband and myself are nearer to 60 and plan on working until we are 63-65. We inherited around 105,000 in cash, 238,000 in bonds and mutual funds we are also set to receive an Inherited IRA in a few months. My questions is in your opinion should this be cashed in all except the IRA, and put into a different type of investment.

Hey Suze,

I am planning to buy a new car. I heard there is some rebate offer in this new stimulas plan if you buy new car. is it true? is it worth waiting for it?

Please throw some light on this issue.

Thanks
Appa Rao

Suze, Help! My husband and I are feeling like we want out of the market. We have just moved to California and taken a salary job after being self employed for 10yrs. It came with a pay cut and a huge cost of living increase. We couldnt sell our home in Denver, so we rented it (for more than our mortgage/ins/tax, so one positive). Aside from the house we had around $750k diversely invested with portfolio mgr. But it is down SO much, should we pull out now and wait until it starts to increase before getting back in. I dont have any specific need for the money right now, just worried it will be completely lost. We are 40. Help!

DO YOU WANT TO REALLY WANT TO BOOST THE ECONONY … THEN HAVE THE PRESIDENT AND CONGRESS REPEAL THE PROHIBITION ON CONCURRENT RECEIPT OF MILITARY RETIRED PAY AND VA DISIBALITY COMPENSATION FOR ALL DISABILED CAREER MILITARY RETIREES. WE WILL SPENT IT ALL, AS WE HAVE A TRACK RECORD OF LIVING MONTH TO MONTH.

This veteran’s issue is one of many that haven’t been resolved … trivial to today’s war veteran issues but very important to us veterans who are in our very senior years.
The issue is that if you are a retired (20 plus years) veteran with 10% to 40 % service connected disability, non-combat, you will receive a disability check from the VA corresponding to your percentage of your disability …. However, the same amount, dollar for dollar, is deducted from your retired pay, resulting in a net gain of zero for your disability. That’s right …. If you decided to be a career serviceman and have some service connected disabilities you have to fund your own disabilities if under 50%.

Thanks,
Retired SMSGT, USAF

We purchased our home with 20% down and have of course lost that since our homes value has tanked. Do you see anything in the stimulus package that might help the millions of us refinance even though we have lost all the equity in our home and now have nothing to refinance with?

Thanks Suze,

Jen

Please answer... I am a BROKE college student

Hi Suze! I have 2 questions. I am currently graduating with my masters in Nursing in May... therefore I am in lots of debt. I have about 50, 000 at one place and 30,000 with another place. What is the best company to consolidate with? Would it be best to NOT consolidate and to just pay on the high interest loans at first?

Secondly, I have a credit card with a an EX boyfriend and I would like to close it once he pays the balance off. How long should I wait before closing the account?

Why is the media upset by companies paying bonuses and having retreats for top producers, when congress has all expense paid retreats and no one seems to care? Congress is just as much to blame for this financial crisis, yet they (Tom Daschle) can get paid $2,000,000 as a lobbyist while they are still in office. This is criminal.

Suzi,
Question:

We (2 couples) opened a restaurant 3 years ago. We had to take out 3 different loans in order to do this. The restaurant is doing very well and we would like to consolidate the loans.
We were told originally to take out seperate loans because we didn't own the building, we leased. Can we consolidate now that the business is established and doing well or do we have to continue to pay interest on 3 different loans?

Thanks!

Suze,

I live in Oregon and I want to start saving for my kid's college expenses. But I am confused about whether to go with the state plan or to enroll in an out-of-state 529 plan as I am not impressed with any of the funds offered in the Oregon's 529 plans. However, the big advantage of going with the Oregon plan would be the tax deduction (upto $4000) that I will be able to claim once I am enrolled. What do you recommend? Is it still worthwhile enrolling in the state plan or should I consider another state's 529 plan that will provide me no tax advantages?

Thanks,
Priya

Have we ever seen the stats as to how many people who owned homes and tried to refinane during this period. In 2005, my mom with perfect credit for over 60 years, over 150,000 in the bank and owns her own home, tried to refinance another home she owns and never made a payment late in 22 years and was denied. She was told that she should exchange her fixed mortgage for an adjustable and then refinance it again into a fixed in three years. They told her that fixed rates were so "old school "and that everyone was going for the adjustable. My mom was so insulted, she paid off the mortgage and took all of her money out of B of A. The banks were not just going after people who weren't credit worthy, but SENIORS. I do believe the banks are robbing the banks!

My husband and I are in our mid-40s and have been watching our retirement savings plans lose over 50% in the past few months. Do we cut our losses and liquidate those funds? Or do we hang in there and risk cutting our life savings in 1/2 yet again?

So I am curious intially in the last 2-3 weeks they had talked about the new stimulus plan having a provision for people on social security/disability. A one time stimulus check this year would be issued.First I heard $450, then I heard $300, now I dont hear anything at all. I have searched the internet for info on the above situation and I am unable to find any. Do you know the answer, and if you do, can you let your audience know. I am sure I am not the only social security recipient that is wondering. thanyou

Investment Tax Credit: can you explain that & how business can use it to purchase new equipment and moderize their business. It used to be there years ago......and it sure would help get Ma & Pa places going and help the economy ???

Suze,
I have made a lot of finacial mistakes in the past and have recently started paying off debts. I paid off my credit cards and closed them. I have paid off almost all other bad debt. I now have just less than $1000 in bad debt. I have a car loan of $560 montly. I need to get rid of this, but can't get a car loan thru my bank. I make all my payments on this loan on time but still can't get a loan due to my credit score. Its dropped from 670 last year with all the bad debt, to 520 this year with almost everything paid off. My question is this. Whats the best and fastest way to raise my credit score, and what did I do to cause my credit score to drop so far; so fast. Help!! I am sick and tired of always being in debt. Melissa; Spfld, MO

When do we see the income tax rollback for senior citizens making less than $50,000?

Suze,

Wouldn't it better to give the remaining TARP money to one or several National banks, such as credit unions with good past performances and have them lend the money and get it circulating – this should take care of the credit crunch, and the place over sight and monitoring on them. Also, allow new banks with brand new management and new business models emerge to increase market participation.

Then shouldn't we let go of the big guys such as Merrile Lynch, Citi, Goldman...? Let them get through their issues on their own - they already got a large amount of money that others don't get and since they claim to be so bright and smart should be able to figure this out – after all they have a leg up with the first half of the TARP money. I just don't understand why we insist on putting more against something that has over and over proven that it is broken and is wasteful investment.

Look forward to your feedback!

Hi Suze –
My husband recently inherited a very large stock portfolio. He received a call this week from his broker stating that we should consider cashing some of the stocks in, since it is losing so much money and that we should just place the money in savings instead. Is this wise to do, or should we just keep it the way it is and hope it starts to do better? We are still fairly young (in our mid thirties) so we have quite a bit of time before we will need the money from this
Thank You!

My husband, who is59, and I (56) bought a small house last summer to renovate and move into. Our current house, which we have had for 12 years, is now worth less than our mortgage. We have had it on the market since July of '08 and only 3 people have looked at it. It is priced so that we will only break even on a sale. We have stopped making the mortgage payments on our current house and really don't care if our credit rating goes down, as we are working to pay off credit debt and have the small house to live in. Have we done the right thing?

as an independent contractor what tax breaks or credits could look for? Also, with the EIC will they raise the interest rate of 2950. so I could qualify for that credit? Thanks for your response- and for the copy of your book through Oprah Show

i am a full-time student living off of my financial aid. i have a car note of $450. now that i don't have a job my financial aid is just enough to cover my rent and small bills. i want to get rid of the car, it is a 2008 mazda tribute that i got in august of 2007. the car is now at about $15500. i want to try to get something cheaper, I'm just afraid that i will be upside down as far as payments. i have tried to refinance but am unable to due to credit card debt. what is the best option for me with getting rid of this car that i cannot afford.

Can you tell me why single individuals are taxed at a higher rate? I never heard this subject being raised during the campaign. Does the new administration plan to do anything with regard to this inequity in the tax system?

Good evening, Suze! I'm a big fan of yours and I'm very excited to see you on Anderson's show. I watched you recently on Larry King Live and you gave the viewers some pretty amazing advice. Do you that know I see you everyday? Your picture is on the huge billboard where I catch my train to and from work? Everyday I say to myself, did I save enough money today? hahahaha....

Suze– Awhile back, Anderson made a comment that he doesnt even know what to do with his 401K at work. What kind of advice would you give him?

I work for a not-for-profit theatre. There isn't any cash flow to pay my salary but there is work to be done. What can I do? Can I claim unemployment insurance?

Suze, I lost my house to foreclosure last year and have been working hard to pay down all of the rest of my debt. I thought through the advice of a real estate person that when a house goes into foreclosure that the 1st lien holder gets usually the majority of the money and if there is any to be had the second lien holder can sometimes get some of the money. My problem is this my house was upside down and 154k 137 1st and 27 for the second. The house sold at auction for a meer $52,500, All of that of course went to the primary lender. Now the second lender is threatening to garnish my wages and sue me for the balance of what is owed. I don't understand how they can expect you to pay for something you don't own anymore. What has happened to the Deeds of Trust.

What should I do with my anticipated tax refund of $800? I owe $23,000 in school loans,$22,000 car balance,and $11,000 in credit card debt. Should I try to pay off one credit card, or should I just put the money into a savings account?

Hi Suze,

My Family sold our house in Connecticut(CT). While under contract, I noticed signs of Attempted Breaking & Enterring and Vandalism. Based on research I had done prior to our listing our house for sale, I know that my CT County Realtors Association has a listing of every Agent who goes thru a house based on data stored in the lockbox placed on the front door and uploaded to the Assoc.'s Lockbox Dept.

During conversation I had with the Lockbox Coordinator, it came out that the lockbox had no info of anyone enterring my house on the day I know the buyers who bought my home and their real estate agent enterred(1 and only time they enterred my home). 3 family members were sitting in the car at the corner watching them enter and leave; next door neighbor told me he saw them talking in our adjoining open back yards. Based on this lockbox documentation a buyer who never saw my home –made an offer, did a home inspection, and closed on a house they never saw; a real estate agent who never saw and showed my house received a commission.

2 of us went to CT County Realtors Association and spoke with the Realtors Assoc. President who told us he KNOWS his agents enter homes illegally without sellers' knowledge and consent, he will do NOTHING to stop them, the law is that we have NO RIGHTS to the info from the lockbox on our front door, and he doesn't have to show us the law stating we have No RIGHTS to this info(we asked to see the document).

I have a lot of info and documentation related to this "situation" including but not limited to a POLICE REPORT STATING VANDALISM and BREAKING & ENTERRING(our listing agent screamed at us not to call the police when we found this one night when we came home), the lockbox #, etc.

Suze is the buyers agent legally able to receive a commission from my home's sale even though the lockbox documents the agent never showed my home?
Can the agent we listed with get a commission even though he was not present during the home inspection(we repeatedly told him we wanted him to be there verbally and in email) and he violated his fiduciary responsibility to us as per the law (damage was done to the house and our personal belongings, we listed this in a letter to our real estate lawyer right after the home inspection).

This is just a brief summary of what happened.

Hi Suze,
I have 2 credit cards with Bank of America for$ 10500 and$ 5500@15.99 and 13.99.
I recently called them to negotiate for a better rate and the credit analyst stated that i always pay minimum amounts only and i have too much debt. He said i needed to speak to a Debt Manager.
He transfered me to them but i didnt accept that program.

A few days ago , i received a letter from Bank of America stating that my credit card accounts had been closed "to further charging privileges because i currently have sufficient debt considering my income."
Does the bank have the right to close my acc.yet i have never been late with payments?
Rebecca.

I have mastercard and visa through Wachova. Bank of America (BOA) will be taking over these accounts. Wachovia has asked me to switch to Wachovia and close out the cards that will soon be BOA. Will I lose my FICA score if I close these accounts

Today Capital One sent a letter say the rates are fees are going up
due the the economic situation. this is wrong.

Suze,

What is happening to the condo market in areas outside of Miami, Tampa, and Orlando Florida. We are older and secure and have the means to buy a second home...condo down in the Destin Florida area and we have seen some relatively good prices compared before the market when south.

Looking at the purchase as an investment and for personnal enjoyment. Some of the c%ondos would provide net rental incomes to cover the mortage after 25 down.

Can we expect prices to continue to fall in these areas. If so is an offer that is 15-20% below asking unrealsonable? What other advice and recommendation can you provide. Now sure the stock market at this time is a good investment for extra cash.

Thanks
Bob

I wonder if anyone in the government thought about something like verteran home loan. Maybe they could find a "freeze point" regarding mortgage balances and values,(finding a crisis birthdate) then guarantee these values under specific conditions, (relative to today's values) ,guarantee the difference, to the balance of said loans, until all legitimate, as of today, "under-water" mortgages are "in balance", (for lack of a better description). Maybe not what everyone "wants" to hear, but seems the most practical for all involved, and taking care that no one really profits from this situation.

chuck z

Hi Suze,

I'm paying 8% on my $4,000 credit card debt. Should I pay it off with my home equity line of credit if the HELOC rate is less than 5%?

PLEASE, PLEASE, PLEASE ASK SUZE!!!

I was a first time home buyer and got 2 loans to avoid PMI. One loan is a 30fixed at 6.3 the second is a 10 year balloon at 8.2. I know it financially makes sense to refinance but I haven’t found anyone that is willing to.

I live in Houston, TX and mortgage lenders are saying that my second loan is a “cash out HELOC”. How can this be when I used the loan to purchase the house?

I need your help girlfriend, where can I go to refinance?

i have an adjustable rate mortgage with wamu. since they have "gone under" . they sent a letter saying they were offering refinancing, but
when I called them they said for some reason having to do with a technicality in my mortgage that I was not aware of, I was not able to re-finance. Would you advise that I try to pay down the mortgage as fast as possible even though the rates are low right now? I feel like there is no one at wamu to talk to. no one knows what's going on. I even went to my local bank that I've been banking with for over 30 years. They are Chase Manhattan, they have BOUGHT Wamu...and they had no idea what the
deal was.
In your opinion, should I be trying to just get out of it all together and put my life savings into paying off the mortgage? Thanks. -Suzanne

Susie,
We are in our late 70's, and healthy, our broaker is telling us that we should sell our Mutual Funds and go int munic.Bonds. We are worth
1 1/4 Mil.. and confused .
Our Municpial Bonds have lost a sizable amount also.
Where is the safest place to be right?.
We are in for the long term

Annetta Wilkinson

My husband, 54 yrs old, is a General Motors hourly employee with 32 yrs seniority. Most of our savings is in his 401 & my 503 (I am 54 yrs old & a nurse midwife). We live in Flint MI. Should he take the retirement recently offered, or should he continue to work? We are concerned about losing health care benefits before we reach medicare age.

Suze,

I'm behind on my mortgage and am now considering a mortgage restructure.

is a restructure wise or should i try to sell my home instead to begin repairing my credit? my monthly expenses would be manageable and i could keep my house if my mortage payments were reduced.

thanks

Suz,
I have to disagree with you. You advice on not taking loans and not going to school during a recession seems out of touch with reality. During every economic downtown people use the time wisely to get degrees and enhance their skills for the jobs that follow in the upturn. People have done this for the last 30 or 40 years and the economic stimulus bill includes lots of Pell money to help people get into school and complete programs. Lots of schools are increasing financial aid and discounting their tuition to help students that find themselves in poor circumstances during this economic downturn. I would encourage students to be savy shoppers and visit the school and the financial aid office. This is a good time to get back in school and get a good degree. Please encourage people to do so. When the downtown is over we will need teachers, nurses, and even those perhaps less than popular financial workers that created this mess.
don

Hi Susie,
My husband and I are in our late 70's, Our Broker has advised we sell our Mutual Funds and buy Corprate or Municipal Bonds. Of which we have a fair amount. They have also been loosing lg amounts of money. But so far we are still OK.
My Question is: Should We? We have been in the market for the long hall, and are sooo confused. Is it better to sell at a loss and buy Bonds at a discounted Rate hoping they will now take a sharp turn up?
Our Son's broker recommend's he stay the course He's 59 and not in our income bracked yet.
Help
Annetta

Would it make sense to use a HELOC at 5% to pay off and consolidate other debt? I current have $4,000 in credit card debt at 8% and $15,000 in a car loan at 6%. I am on unemployment and do have some investment assets, but most of it is in stock which I hate to sell during this bear market. Thanks!

Hi Suze I Just recive my pension plan of 15,277.00. Which I'm going to inrole it to IRA acc CD. Only because I don't know where to put it.I'm 46 A month ago I just started to recieving medicad & foodstamps. I've been recieving for 8 month workmen comp for back injury. I get 228.00 bi-weekly for me and 15 year old only income. My question is could medicade & foodstamps take My IRA acc away from me and if so why? And what can i do? I don't have enough money to live on. Thanks New York State j

Suzie; Just curious of how and where to put some of 60 thousand in cash. We would use some for expenses right now. So lets just say 50 thou. We were definetly thinking about doing some fixer upper in the house, like knocking a few walls out, etc., but that will be in about 3 -5 years, so in the meantime, was thinking of where to put it to make money in that period. Do you have any suggestions.........I know dumb question! I know you have a lot of questions......
Any info would be appreciated. P.S. How long do we have to cash this check. Its from the bank. We refinaced with the extra money. Our first thing was, was that we were going to buy a house for our daughter thats previously going thru a divorce, but decided against that. We also thought about buying a property and flipping it, but I think we want to stick it somewhere to make some more on top of it, so in about 5 years, maybe we would have another 5 or 10 thou. with it.....Or am I dreaming.......lol
Danita Davis, Glenmora, La

WTF? This all makes my brain and soul tired. I am to concerned about about good health, peace of mind and letting love and light shine on me and us all to deal wit drama.