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MORTGAGES

Can You Still Obtain A Mortgage After A Short Sale?

By The BIDaWIZ Team on January 16th, 2013 at 3:00 pm

Many homeowners are still underwater on the properties that they purchased 5 to 7 years ago. They may be able to meet mortgage payments, but they could have a home with a $250,000 mortgage that is now worth $125,000. Should an owner that wants to move out, consider a short sale? If so, what are the consequences to their credit and taxes? .
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MORTGAGES

Are You Considering A Deed In Lieu Since Mortgage Relief Is Extended?

By The BIDaWIZ Team on January 4th, 2013 at 2:00 pm

Congress came through at the 25th hour by extending the Mortgage Forgiveness Debt Relief Act of 2007 through 2013. This extension positively impacts those that are in a foreclosure, short sale or are considering a deed in lieu. Read More.

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MORTGAGES

Should You Be Worried That Mortgage Rates Are Now Rising?

By The BIDaWIZ Team on December 20th, 2012 at 4:00 pm

While 30 year mortgage rates are still down 50 to 60 basis points as compared to last year, there’s been an increase in rates over the past two weeks. According to Bankrate’s recent national survey, rates are up 10 basis points or at 3.62% as compared to 3.52% during the week of December 3rd, 2012. This is somewhat head-scratching given the Federal Reserve’s announcement to purchase up to $45 billion worth or mortgage-backed securities per month. What should you make of this recent rise in mortgage rates? Read More.

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MORTGAGES

Managing The Timing For Selling And Purchasing A New Home

By The BIDaWIZ Team on December 14th, 2012 at 4:00 pm

The housing market continues to show signs of life. Many homeowners may now have immediate plans to sell their existing home and purchase a new one in hopes that the value will appreciate significantly in the coming years. It's important to understand when exactly it's safe to purchase a new home. .
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INSURANCE

How Can I Take Out The Cash Value From My Life Insurance Policy?

By The BIDaWIZ Team on December 14th, 2012 at 9:00 am

There are still plenty of policyholders that are on the fence about what to do with the cash value from their insurance plan. If you're thinking about tapping into it, you likely need it for retirement or are in a financial bind. If you're in this situation, you'll need to know the different ways to pull the cash out without facing taxes or penalties. .
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INVESTING

Your Employer May Soon Change Their 401K Matching Program

By The BIDaWIZ Team on December 7th, 2012 at 3:00 pm

IBM recently announced plans to reduce the frequency of matching employee 401(k) contributions to only once a year. This will take place on December 31st of each year. While IBM is only the first company to announce the change, they did employ as much as 105,000 US workers as of 2007 (disclosed during a U.S. Congressional testimony). We expect IBM’s announcement to be the start of a trend in the employee benefits space. Will this impact your 401(K) plan in the future? Read More.

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INVESTING

Contributing To Your 401K And Roth IRA

By The BIDaWIZ Team on November 30th, 2012 at 5:00 pm

According to a recent study conducted by the Employee Benefits Research institution, 60% of respondents age 55 or more had less than $100,000 in retirement savings and 40% had less than $25,000. Of course, this is concerning to us considering the rising cost of medical and living expenses. However, those in their 50s can still plan for retirement. Read More.

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PERSONAL FINANCE, SMALL BUSINESS

When are the best deals available for the holiday shopping season?

By Susan Ladika on November 30th, 2012 at 1:00 pm

Black Friday and Cyber Monday get all the hype, and shoppers turned out this year in droves. Black Friday shoppers spent more than $59.1 billion versus $52 billion in 2011 or up 13.6%, according to the National Retail Federation. Cyber Monday also had a monster increase with sales at $1.5 billion versus 1.25 billion in 2011 or up 20% (final numbers not release yet). But that's just the beginning – not the end - of the holiday shopping season. .
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INVESTING

Three Smart Ways To Spend Your Tax Refund

By The BIDaWIZ Team on November 30th, 2012 at 8:15 am

As we approach the final month of the year, we need to look ahead to our 2013 budget. Your tax refund for the 2012 tax year should be heading your way about 7 to 10 days after you e-file your tax return, if you’re eligible. How exactly do you plan on spending your tax refund? Read More.

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MORTGAGES

How Far In Advance Are You Locking In Your Mortgage Rate?

By The BIDaWIZ Team on November 23rd, 2012 at 4:00 pm

Home buying has begun to increase again as prices have stabilized in many parts of the country. The latest new residential construction report for October 2012 indicated a 3.6% increase year over year, which is the highest in almost four years. This data suggests that more mortgage applications have and will be filed in the coming months. Applicants need to understand the various options to lock-in a mortgage rate. This also applies to those planning on refinancing. Read More.

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