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Expert: Don Taylor, Ph.D., CFA, CFP (Bankrate.com)
Dear Dr. Don, I have inherited $168,000. I am 51 with very little in retirement savings. My husband and I own a home with a loan balance of $176,000. We would like to retire by 62 by using deferred comp at work, although we haven't started this yet, plus pension and Social Security.
Business Highlights (AP via Yahoo! Finance)
Rescue legislation sailed through the House Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and to prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing.
Rent? Buy? Map it out for Portland area (The Oregonian)
The Washougal, Wash., real-estate market is red hot. Oregon City is yellow hot. And Hillsboro is green hot. But not in home sales. Rather, the redder the color, the better it is to rent than to buy a comparable home.
A Must Read (Washington Post)
I'm giving you a reading assignment and I want a short report afterward. I'm serious.
Refinancing to ARM may be risky (Bankrate.com via Yahoo! Finance)
Know the risks before refinancing to an adjustable-rate mortgage, says Dr. Don Taylor.
Homeowners start to panic (The New Zealand Herald)
Homeowners are flocking to the Government's online mortgage repayment calculator as rising living costs and high interest rates lead some people to re-assess what they can afford to repay.
Prepay mortgage if you fear risk (Bankrate.com via Yahoo! Finance)
Your risk tolerance level determines whether prepaying the mortgage is wise, says Dr. Don Taylor.
PMI Introduces Integrated Rate Quote and Payment Comparison Tool (PR Newswire via Yahoo! Finance)
PMI Mortgage Insurance Co., the primary subsidiary of The PMI Group, Inc. , today introduced the next generation web-based tool that allows users to obtain rate quotes and compare multiple mortgage insurance payment plans in one step.
Expert: Don Taylor, Ph.D., CFA, CFP (Bankrate.com)
Dear Dr. Don, I have a 30-year mortgage at 6 percent and have been prepaying $100 a month since November 2003. I was curious about getting a LIBOR adjustable-rate mortgage that resets the payment monthly. Is that a bad idea?
CENTRAL NY BUSINESS NEWS (The Post-Standard)
• Power grid closes costly loophole Operators of the New York power grid have closed a profitable loophole that benefited a small number of power traders this year while raising everyone else's electric prices.
