Financial News from

  • If I continue to work, will my Social Security check grow? - 6 hours ago

    As long as you continue to work, even if you are receiving benefits, you will continue to pay Social Security taxes on your earnings. The Social Security Administration checks your work record every year to see whether the additional earnings will increase your monthly benefit. For example, in December 2015, you would get an increase for your 2014 earnings if those earnings raised your benefit.

  • National mortgage rates for Nov. 25, 2015 - 6 hours ago

    Interest Rate Roundup Mortgages 30-year fixed: 4.07% Average points: 0.25 Mortgage rates ticked down this week, according to's latest survey of large lenders. The benchmark 30-year and 15-year ...

  • Is there a law to request a lower interest rate? - 6 hours ago

    Sorry to break it to you, but there's no law that entitles a cardholder to a lower interest rate if they call up their credit card issuer and threaten to pay off and close out the card. "There is no law that requires banks to allow people to pay back less than what they agreed," says Nessa Feddis, senior vice president of consumer protection and payments at the American Bankers Association. You could also theoretically call to see if they are willing to waive a fee, switch you to a different card or increase your credit limit.

  • The rent is too high. Can you talk it down? - 6 hours ago

    "It's a tough scenario for renters because demand is strong and supply is short," says Daren Blomquist, vice president at real estate information firm RealtyTrac in Irvine, California. The first thing you should do is look at the city or town as a whole, says Niccole Schreck, senior brand manager at If the landlord won't budge on your rental rate, consider the other costs of renting that could be fair game for negotiation.

  • Mortgage rates fall despite possible Fed hike - 6 hours ago

    Interest rates on mortgages moved slightly lower this week ahead of the Thanksgiving holiday. Meanwhile, markets are anticipating a move from the Federal Reserve at next month's policy-setting meeting. The market has already built in a rate hike from the Fed for the most part, says Brett Sinnott, vice president of capital markets at CMG Financial in San Ramon, California.

  • Where will mortgage rates head next week? - 6 hours ago

    Will rates go up, down or remain unchanged? Intro Up 11% Down 22% Unchanged 67% Panel Prediction Up Down Unchanged 11% 22% 67% This week (Nov. 25-Dec. 2), 11% of the panelists believe mortgage rates will ...

  • 2 top retirement questions for senior parents - 6 hours ago

    If your parents haven't shared a plan with you, it's time to start asking questions. A good place to start is with a heartfelt conversation about their plans for housing after retirement and for potential health care issues, says Chris Alberta, CEO of Senior Benefits Group Retirement Advisors and president of Alberta Enterprises Inc. in Brighton, Michigan. 1. Are you planning to age in place or live in senior housing?

  • How can I add my wife to a reverse mortgage? - 6 hours ago

    You may be able to refinance the reverse mortgage. If you have a home equity conversion mortgage, or HECM, with a case number assigned before Aug. 4, 2014, your wife can stay in the home after you pass as a non-borrowing spouse, providing the reverse mortgage is eligible for the Mortgagee Optional Election, or MOE, Assignment and is approved for that assignment. Before taking on the costs of refinancing the reverse mortgage, I recommend meeting with a real estate attorney to talk about how protected your wife is as a non-borrowing spouse, should you die before her and don't refinance the reverse mortgage.

  • CD rates for Nov. 25, 2015 - 6 hours ago

    Interest Rate Roundup CDs 1-year CD yields: 0.27% 5-year CD yields: 0.85% The basis point seesaw has fallen once again in the national survey of certificate of deposit rates. The average yield on a 1-year ...

  • How does divorce affect bankruptcy and mortgage? - Tue, Nov 24, 2015 9:00 PM AEDT

    While you are legally allowed to sign your name off the deed to your house as part of the divorce settlement, the lender does not have any obligation to remove your name from the mortgage loan. This means that while your divorce decree says your wife is the owner of the home, you and your wife are still legally responsible for the mortgage. The divorce decree could also state who will make future payments, yet the lender can still hold either of you personally responsible to pay.

  • Do I owe more tax for inherited IRA distribution? - Tue, Nov 24, 2015 9:00 PM AEDT

    How can I find out where this unpaid tax is coming from since I already paid taxes on my inherited IRA distribution? In order to determine where the tax discrepancy is coming from, you will need to very carefully compare the various numbers shown on your tax return to the IRS-calculated numbers shown on the notices they have sent you. You should have reported the IRA distribution on your tax return on line 15 and then reported the tax withheld from forms W-2 and 1099s on line 64.

  • 52-week savings challenge - Tue, Nov 24, 2015 9:00 PM AEDT

    Can you try a new way to save every week for a year? Each week, we will try a new way of saving money and chronicle the journey. Follow our 52-week savings challenge here: Click on a date to see which ...

  • Use Roth IRA as your backup emergency fund - Tue, Nov 24, 2015 9:00 PM AEDT

    If you want to maximize your retirement contributions, but also want to tuck away money in an emergency fund, you could use a Roth IRA to pull off both. An often-forgotten benefit of the Roth IRA is that you can withdraw from your own contributions any time, without a tax or penalty. You paid tax on that money before it went into your IRA so there's no additional tax or penalty to withdraw it, says Jean Keener, CFP professional and a Chartered Retirement Planning Counselor (CRPC) in Keller, Texas.

  • Wearable tech can help save a senior's life - Tue, Nov 24, 2015 9:00 PM AEDT

    Innovative wearable technology such as the Apple Watch can be amazingly cool, but some wearables could literally be lifesaving, especially for seniors. There are now watches that do double duty as pedometers and fall-detecting personal emergency response systems. Plus, as wearable technology becomes ubiquitous, the cost decreases, which puts these space-age solutions within reach of nearly everyone.

  • Bottleneck in processing mortgage payments - Mon, Nov 23, 2015 9:00 PM AEDT

    Strangely, my mortgage company is holding my money, applying it once monthly and charging me late fees. When you convert your mortgage to biweekly or weekly mortgage payments, you haven't changed the underlying mortgage, you've just overlaid a new payment structure onto the old mortgage. Mortgage loans aren't originated with weekly or biweekly payments, but with monthly payments.

  • Kevin Hart may be a 'little man,' but his big net worth may surprise you - Mon, Nov 23, 2015 9:00 PM AEDT

    Once a shoe salesman, comedian and actor Kevin Hart slowly worked his way up the comedic ladder, performing at comedy clubs throughout Philadelphia and New England for years. Born in 1979, this Philadelphia native has made a fortune off of his stand-up comedy career.

  • Survey: Americans dreaming of a no-credit Christmas - Mon, Nov 23, 2015 9:00 PM AEDT
    Survey: Americans dreaming of a no-credit Christmas

    Seven in 10 Americans say they will use either cash (39%) or a debit card (31%) for most of their holiday purchases. Just 22% say they will put the bulk of their holiday spending on credit cards. Deciding how to pay for holiday purchases can have a big impact on consumers' bottom line.

  • Can disability pay affect Obamacare eligibility? - Mon, Nov 23, 2015 9:00 PM AEDT

    Do I claim that as yearly income when applying for health insurance through the Obamacare marketplace? If your long-term disability benefit of $1,500 a month is all the income that you currently have, use $18,000 as your annual income when applying for health insurance through the Obamacare marketplace. Suggestion No. 1: Keep your COBRA health insurance until you're able to implement replacement coverage.

  • Fund IRA earlier to save a bundle for retirement - Mon, Nov 23, 2015 9:00 PM AEDT

    If you wait until April 15 each year to make a prior-year contribution to your IRA, the size of your future nest egg could take a hit. Indeed, although most investors are well aware that saving early in their career can significantly increase their retirement savings in the future, few appreciate the importance of funding an IRA early in the calendar year as well.

  • 5 tips for parents asking kids for money help - Fri, Nov 20, 2015 9:00 PM AEDT

    "Financial security is never a certainty regardless of net worth," says Eric Schaefer, financial adviser at Evermay Wealth Management. Follow these guidelines to ask your children for financial help. "Seeking assistance from children or other family members is often a challenge," Schaefer says.

  • Our listing agent isn't doing jack. What do we do? - Fri, Nov 20, 2015 9:00 PM AEDT

    Technically, you're bound to the length of your listing contract unless it states that either party may terminate at any point (relatively rare) or there are overt violations. The National Association of Realtors says only about 10% of buyers these days find the home they eventually buy at an open house.

  • Top 10 states for foreclosure in October - Fri, Nov 20, 2015 9:00 PM AEDT

    Foreclosure filings went up 5.5% nationally from September to October. According to RealtyTrac, a California-based firm that tracks foreclosures, these states had the highest rates of foreclosure in October. ...

  • How can I prevent my car from hydroplaning? - Fri, Nov 20, 2015 9:00 PM AEDT

    Is my car hydroplaning? It's understandable how driving in the rain can make you feel uncomfortable when you are not accustomed to wet weather. Hydroplaning occurs when your tires don't have enough tread or tire pressure for the water to be dispersed and allow the rubber to keep contact with the road.

  • What is Howard Stern's net worth? The answer may shock you - Fri, Nov 20, 2015 9:00 PM AEDT

    Honesty and outrageousness have helped Howard Stern build his empire. Stern worked at several radio stations before joining SiriusXM Radio in 2005. Stern has also become known as an author, actor and television personality.

  • Get relief from hubby's discharged student debt? - Fri, Nov 20, 2015 7:08 AM AEDT
    Get relief from hubby's discharged student debt?

    Is there any provision in the law about tax relief for an innocent spouse? There are provisions in the law regarding "innocent spouse relief." However, this relates to income not reported properly on a joint return, so it will not help you in your situation. The student loan forgiveness will be reported to you on Form 1099-C, Cancellation of Debt.

  • Like milk, credit cards expire. But why? - Fri, Nov 20, 2015 6:55 AM AEDT
    Like milk, credit cards expire. But why?

    Your credit card has been declined. You're about to freak out: Did someone steal my account info and charge over the credit limit? The major networks (Visa and MasterCard) mandate that issuers (your bank or credit union, for example) put expiration dates on credit and debit cards.

  • 3 perks to ask for instead of a pay raise - Fri, Nov 20, 2015 5:20 AM AEDT
    3 perks to ask for instead of a pay raise

    From extra time off to flexible work schedules, there are other things you can ask for in lieu of a raise. "Pay is still a top request, but professionals are also starting to care deeply about their work-life balance and are interested in options like telecommuting and flexible scheduling," says Brie Weiler Reynolds, a career adviser at Boulder, Colorado-based job search website FlexJobs. "If you're talking to your employer about getting a raise, it's important to plan for the possibility that they might say 'no,'" Weiler Reynolds says.

  • Multiple mortgages muddy retirement plans - Wed, Nov 18, 2015 9:00 PM AEDT

    Dear Senior Living Adviser, I am a civil servant eligible to retire next year. I'm 63 and my wife is 59. We both plan to wait until our full retirement age (66) to file for Social Security benefits. When ...

  • Private banking isn't just for the 1% anymore - Tue, Nov 17, 2015 9:00 PM AEDT

    Private or personal banking is a generally "high-touch" service, meaning you can expect a lot of personal attention and faster service than a typical bank customer. "Some of the things that you would see are a high degree of personalized service, with attention to the clients that would be customized to that particular client's needs," says Deborah Bianucci, president and CEO of BAI, a banking industry research group. Typically, private banking customers have a single point of contact to call, who may be known as a private banker, personal banker or some other title, depending on the institution.

  • Americans' money focus: Pay debt now, save later - Tue, Nov 17, 2015 9:00 PM AEDT
    Americans' money focus: Pay debt now, save later

    Though people are feeling more positive about their financial prospects overall, many Americans are running just to stay in place. They prefer to keep current on today's bills or dig out of debt, which ...

  • Report a monetary gift from a non-citizen to IRS? - Tue, Nov 17, 2015 9:00 PM AEDT

    My wife and I are both U.S. citizens and file our annual returns jointly. According to the IRS, you and your wife each constitute a "U.S. person" and would only be required to report the gift if either one or both of you received "more than $100,000 from a nonresident alien (your aunt) that you treated as gifts or bequests." The only guidance the IRS gives for joint filers is that the 2 U.S. beneficiaries may file a joint Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts.

  • Keep house with Chapter 13 bankruptcy - Tue, Nov 17, 2015 9:00 PM AEDT

    It's called Chapter 13 bankruptcy, also known as personal reorganization bankruptcy. This is different from Chapter 7 bankruptcy (liquidation bankruptcy). In Chapter 13, you keep your house, but it takes 3 to 5 years of faithfully conforming to a payment plan before getting your fresh start.

  • What is Bill Gates' net worth? More than the GDP of some countries - Tue, Nov 17, 2015 9:00 PM AEDT

    copyright Chen Xiaowei/Xinhua Press/Corbis Bill Gates Net worth: $76 billion (as of September 2015) Year of birth: 1955 Education: Harvard University (1973-1975) How Bill Gates' net worth was built Bill ...

  • 5 ways to save on last-minute holiday travel - Tue, Nov 17, 2015 9:00 PM AEDT

    Rising airfares may cause travelers to jeer -- and not cheer -- this holiday season. In attempting to save money on holiday travel, consumers fit into 2 schools of thought: Book early, or wait to see if fares drop. If you're in the Bay Area, check San Francisco, Oakland, San Jose, and yes, even Sacramento," says Clem Bason, CEO of

  • Financial security hits highest level since June - Tue, Nov 17, 2015 9:00 PM AEDT

    Americans are becoming more positive about their financial situation, according to a monthly poll commissioned by Bankrate. There has been no deterioration in any component of financial security over the past year. "In what may be a turning point, Americans' comfort level with savings reached a break-even point for the first time, snapping the streak of downbeat readings that had prevailed every month since the poll debuted in December 2010," says Bankrate Chief Financial Analyst Greg McBride, CFA.