Will the Unemployed Wall Street Investment Consultants have to get a job at Wal Mart or McDonalds?
Can i stop paying my mortgage too?
Are you kidding?!?! they all make 10 to 50 million a year income, they don’t need to work so there is no risk to their lifestyle if theylose their job.
Buyer Protection Plan with Vancouver Mortgage Broker Mark Fidgett, Best Rates
Mortgage Foreclosure Scams Target Of New Enforcement Efforts
INDIANAPOLIS (Indiana’s NewsCenter) – The Federal Trade Commission announced a new set of rules Friday aimed at protecting homeowners from mortgage relief and foreclosure consultant scams.
The above mentioned are the basic requirements in order to qualify for a home loan. Secondly, I was interested to know how big a home loan I could get considering Mortgage Consultant Pay. As soon as I knew how much, I could start searching for a house.
Mortgage Consultant Pay
I just received $40K lump sum (before taxes). How best to invest? HELP!!?
I’m in my mid thirties. Embarrassingly, I have no savings, and I currently have $45K in credit card, line of credit, and other debts (plus my condo mortgage). Even more embarrassing, I actually make a fairly decent salary. Obviously I need to get help to learn how to budget. I’d like to start things off on the right foot and invest this lump sum wisely.
Should I pay down some of my debts? Or should I stick this in an RRSP to avoid paying taxes? Or should I use it as a down payment on a small condo in my building and rent it out to pay the mortgage?
Probably the best bet is to sit down with a financial consultant. But if anyone has ideas in the meantime, I’d really appreciate it.
Thanks so much!!
first off i suggest the book financial Peace by David Ramsey. I’l warn that he is slightly religious, but the book has good solid advice. It’s an easy read and will help you formulate a strategy for paying off yoiur debts. One method is by paying off your smallest debt first, then you take the money that yoiu would have put towards that old payment towards the next larger payment until that one is paid off. Keep on until all debts are paid off.
credit counseling might be a good way to go for your cards. They will require you to stop using your cards, but will work out a payment plan and thwart the interest rate. In some cases it gets knocked down to 0 percent interest.
Suze Orman also has good advice. Her idea would probably be to mostly pay off your debt since the interest rates on (what I suppose) is credit cards is going to kill anything you’d make in interest.
As far as investing the 40K, the online bank ING has what i believe is now 4.25% interest on just a regular savings account. Some other banks are offering as high as 5% on CDs and you can “ladder” a couple of CD’s so not all of the $ in tied up for a long period of time.
Just try to look at this a your salvation and a sign to get your finances in order. it can be intimidating and embarrassing, but you can do it.
By the way, stock are WAY too risky to use as an investment tool unless you can afford to lose the money and most financial advisors only want to line their own pockets with your $.
While you are at it get a copy of your credit report and clean it up!