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| Articles about
Question And Answer
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to more articles at bottom of page |
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Equity Used For Down Payment
 My husband and I
want to buy a home being built in a new development.
Our present home worth $260,000 has no mortgage except
a $30,000 home equity loan. We need about $15,000 down
payment for the home being built. Should we open a
home-equity line of credit to pay the down payment? If
not, where is the best place to get the $15,000?
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New
or used car?
 Gary,
My partner and I are planning on purchasing a car. He would like a
station wagon and wants to buy it second-hand. I prefer a brand new
car. This is a fairly big purchase for us and I very much would like
to know what you think.--Nancy
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Affording
a First Home
 Gary,
Can you help me? My husband and I would like to buy our own home to
live in. How do we know if we can afford one or not? Thanks, Donna
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Collection
Company After a 23-Year Old Debt
I received a letter telling me
that I owed a debt of $535.73, but, "if I paid $214.00
immediately," they would cancel the debt. I cannot recall owing
this debt. It was made, according to the company (I called this AM)
in 1980, under my husband's name. I have checked through as many old
papers as I have and can't find this debt.  When
I pay a card off, I always cut it up. I have no cards now, and pay
everything by check. Can they collect on a debt this old?
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How
Much?
I understand that 25% of my monthly
income should be for mortgage, taxes and insurance. How much should
I plan for the remainder of my budget?
There are two of us in our household. Is there a set formula? Also,
if I plan to retire in the next 5 years, should I be carrying a
mortgage for the sake of a tax write off?
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A
Painful Grocery Bill
My husband and I live alone. My mom
comes over for dinner and breakfast 3 days a week, and I send her
lunches for work 2 nights a week. We are spending over $400 a week
for groceries. I am not buying extravagant things, and I really
don't buy a lot of "junk" food. Where on earth are we
going wrong? I see in the Tips section this week, a girl from  Oklahoma
says that she spent around $130 a month on groceries for herself and
her husband?!?! How?! What is she eating? If someone could explain
this for me. I feel like we are beyond help.
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