In 2007, my mother refinanced the house & she included me to the mortgage as a co-borrower. I also signed a paper that included me in the deed of the house. A few days ago, I talked to her about getting my own place bcoz mom & wife don’t get along with each other. She brought up that she is going to have a reverse mortgage after we move out so that I will not going to pay for 2mortgage (old & new house). It’s not that I’m against her, nor I’m interested in the property or the money. My only concern is the "will be effect" on my name since I’m on the loan & deed as well. If possible, I don’t want to have any problem later on especially now that I’m having my own family. I’m not familiar with this mortgage. Sometimes, it’s easy to say things that you do this & that without realizing the effect afterwards. My questions are:

1) I’m thinking of taking out my name to the loan & the deed as well, before mom do the reverse mortgage. But, I can’t refinance bcoz the house don’t have equity, & even I refinance or loan modification, without my name included, mom cannot qualify bcoz she is not financially stable. The house mortgage is 0,000; present loan amount of 2,000; & the house value is probably between 0,000-0,000. What will I do, & how will I do it?

2) Can she do the reverse mortgage even my name is still on the mortgage & deed? With no house equity, how can she have reverse mortgage then?

3) What would you suggest as the best thing to do?

Thanks in advance.

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Am using Quicken Willmaker Plus 2007 to make my Living Trust. I have all of my cash invested in a Smith Barney account. I want to leave cash to a number of individuals. I would like my Trust to just say, "and to Joe Blow, I leave X thousands of dollars." But, in the Quicken software & book I’ve discovered that for every gift to a benificiary I must list a specific bank account OR leave a Bond to him, etc. Is this because this is THE way Trusts are to work and that if I do it any other way, it will just go through probate. My current Trust made out by an attorney just lists in Exhibit A: 1) my house and 2) says and for everything else I own. I have the feeling that my attorney has made it this way in hopes that it WILL have to then go to probate and he will make more money. I want to do this right and do hope someone here can shed some "light" on this that is honest. Who out there in "net land" knows what is the truth here?

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My friend is letting her house go to foreclosure & will need to rent an apartment. She is currently only 30 days delinquent. How do apartment management companies view foreclosures? Should she apply for an apartment now, knowing that she will not move in for a couple of months?

*** Please note that I am not looking for advice on how to keep the home or to get her out of the foreclosure. All options have been considered. Please give advice on how to proceed to obtaining her next housing. Thanks!

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I’m really confused by all this insurance biz. What I’d really like to know is whether I’d be losing out alot by cashing in my whole life policy that I’ve had since 1985. The total death benefit is about ,400. The cash value is 00 which I could really use now. Would I be losing much since my job automatically provides basic life insurance to me which covers ,000? I also have additional voluntary AD&D which covers another ,000?

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I just graduated from DePaul University and I am looking to begin my career as a financial advisor.

I would like to hear some opinions on Waddell & Reed. Is anybody familiar with salary information? Do they offer benefits? Is this a good opportunity to pursue or should I be looking somewhere else?

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the whole time you were really just supporting & lining the pockets of others,leaving you NOTHING & no recourse when retirement comes around?

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How & where do you look up the value of the stock options?

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The individual & his partner that sold us the property carried the full purchase price amount (less the down payment), as a "Contract of Sale". Over the last couple of years both parties (buyers & sellers) have been faced with some kind of financial, real estate, health &/or family "issue(s)", one of which, is being us, the buyers. Thus causing our Mortgage payments to fall behind, drasticly. So in order to refinance, (with Benificial or another Mortgage / Lending Company), they would be paying off two individuals (the partners), not a actual "Mortgage Company". Does this create a problem? What if the property is in foreclosure, how would that effect the odds of getting refinanced with a new Mortgage Company?
Although, there’s at least one good thing in our favior…
Currently we have approx. 55k equity in the property.
Please advise. Thank You.

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As the law is presently written, a Social Security recipient before full retirement age will lose of benefit for every of other earned income above ,560.

So if I choose to work after retiring at 62 & don’t go over the ,560 will I get the full amount due to me at age 62? I realize it won’t be a high as if I work until 66 or 70 yrs. of age.
@thin lizzy/a little known fact is if you keep working until full retirement age you will be given the added amount from working the years after retirement except if you go over the ,560 they take of every
I went to the social security adminstration site .org, but it was not clear to me about making the ,560 and getting all you could, but I think if I do not exceed this my check will be what my annual statement says
As the law is presently written, a Social Security recipient before full retirement age will lose of benefit for every of other earned income above ,560

http://gotoretirement.com/2008/12/working-after-receiving-social-security-at-age-62/

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What are the benefits of term life insurance? I recently got a job & they offer various insurance options.

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I am planning retirement from my current employer @ 55 with a defined pension. My 401K is small but big enough for a down payment on my retirement home after relocation. I will be starting employment with a new employer so I will be able to replenish my 401 with the new employer. As I understand it right now, if I "cash out" on my 401K, I will be subject to 10% penalty & 20% taxes. Is there anyway to avoid throwing 30% out the window?

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Are you required to let L&I know when you start getting railroad pension? Do they reduce your L&I pension?

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My husband will be 60 & while we feel very young I was wondering if he can get any kind of low cost housing. My friend was going to try for something with Catholic Charities. She works at a hospital cleaning & never made enough money to save for retirement. She is too young though at this point.

What do people do when they get older & want to sell their house but just can’t make a big enough income to afford most Sr. living places?

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I would like to start collecting vintage jewelry and imagine that estate sales are a good place to start. How can I find out about estate sales & auctions, and are there any other good places to look for vintage jewelry? Thanks!

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We are considering a refinance at a sub-prime lending rate of 9.1% fixed, 50-year mortgage. I’m told that when working with mortgage companies it is a good idea to get a couple different good faith estimates to see if there are any added line item charges that shouldn’t be there. Here are some of what they propose to charge us for. Should we question any of them?

Loan origination fee
Appraisal fee
Credit report
Admin & Underwriting fee
Flood cert fee
Tax service fee
Closing/escrow fee
Title insurance
Endorsements
Gov Serv
Title doc prep
Recording fees
Reconveyance fee
Hazzard insurance premium
Taxes and assessment reserves

With so many added fees, how can you tell which are supposed to be there and which are padding the broker?
If it is pure profit, how does one avoid paying the listed charges – don’t all mortgage companies need to make some profit?

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