NLIC.org

Vivian Said:

What if the person who had Power of Attorney over my dad cleared his account on the day of his passing?

We Answered:

I agree! She is going to have to live with the consequences of her actions!!! Now the house is in arrears, and it's possible if SHE doesn't catch up on those payments, you will ALL lose the house! Good going SIS! You screwed everyone! Now the State will take over your father's estate, and divy out whatever money is left over after all your Dad's Bills are paid, taxes and the Government! They may even demand she give that money back! As you were the good kid, and stayed with your Dad while he was dying, let HER face the music all by herself!!! The estate will go into to probate, which could take months depending on how big an estate your Dad had! The BANK is NOT responsible for her drawing the money out, it didn't know your Dad was dying!! And yes, I am going to get a WILL drawn up, not that I have much, but it will be better than having the Styate nosing around in my affairs! Thanks, and God Bless.

Adam Said:

Bailout vote: Is this alternative superior in its fairness? ?

We Answered:

It certainly sounds more reasonable than just chucking good money after bad, and into the pockets of people who already stuffed their nests from their failing companies.
I like Dave Ramsey's better

.I. INSURANCE
a. Insure the subprime bonds/mortgages with an underlying FHA-type insurance. Government-insured and backed loans would have an instant market all over the world, creating immediate and needed liquidity.
b. In order for a company to accept the government-backed insurance, they must do two things:
1. Rewrite any mortgage that is more than three months delinquent to a 6% fixed-rate mortgage.
a. Roll all back payments with no late fees or legal costs into the balance. This brings homeowners current and allows them a chance to keep their homes.
b. Cancel all prepayment penalties to encourage refinancing or the sale of the property to pay off the bad loan. In the event of foreclosure or short sale, the borrower will not be held liable for any deficit balance. FHA does this now, and that encourages mortgage companies to go the extra mile while working with the borrower—again limiting foreclosures and ruined lives.
2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and executive team members as long as the company holds these government-insured bonds/mortgages. This keeps underperforming executives from being paid when they don’t do their jobs.
c. This backstop will cost less than $50 billion—a small fraction of the current proposal.
II. MARK TO MARKET
a. Remove mark to market accounting rules for two years on only subprime Tier III bonds/mortgages. This keeps companies from being forced to artificially mark down bonds/mortgages below the value of the underlying mortgages and real estate.
b. This move creates patience in the market and has an immediate stabilizing effect on failing and ailing banks—and it costs the taxpayer nothing.
III. CAPITAL GAINS TAX
a. Remove the capital gains tax completely. Investors will flood the real estate and stock market in search of tax-free profits, creating tremendous—and immediate—liquidity in the markets. Again, this costs the taxpayer nothing.
b. This move will be seen as a lightning rod politically because many will say it is helping the rich. The truth is the rich will benefit, but it will be their money that stimulates the economy. This will enable all Americans to have more stable jobs and retirement investments that go up instead of down.

But this could be worse.

Eduardo Said:

What kind of loans are available to buy a house for someone with not so good credit?

We Answered:

You need to rent for a while. You are in no condition to assume a loan even if a lender were to grant you one. How would you ever keep up the payments and maintain the house without a job?

I don't want to be cruel but the most sensible option you have is to forget about home ownership until you are able to clear up this mess and find work. You realize that if the mother-in-law applied for credit cards in your name that this is fraud? Have you reported this to the police in spite of her being deceased? Have you disputed the credit card charges on those cards?

You have a lot of unpleasant work to do. Sorry.

Anthony Said:

Am I under unholy oppression?

We Answered:

Shawn C -

First, let me say how truly sorry I am to hear what you and your family have suffered. I can understand the FEELING that so much misery would be of Biblical proportions....but I have to ask some questions:

With each decision that was made, how prayerfully did you and your wife seek the Lord? Was His voice the One which clearly guided you in each venture, or did you pursue things which sounded reasonable and right at the time?

If we are to examine the OT Biblical pattern of Divine retribution, have you and your wife been visited by any prophets of God - warning you specifically to repent (to change your mind and behavior), foretelling in graphic detail what dire consequences would occur if you did not return to God? Since He ALWAYS gave fair warning and allowed people the opportunity to repent before judgement came, why would He act any differently now? (Or did these things just blind-side you without apparent justice, rhyme or reason)? Only an enemy strikes in the dark - not God. When He does something, He openly takes responsibility for what He is doing.

Meaning if HE has not told you through prophets or Divine revelation BEFOREHAND that He was inflicting all this on you, then it isn't His "handiwork", to put it simply.

And again adhering to Biblical truths already revealed, would the good, gracious God who HATES divorce use such terrible underhanded tactics to try and split your marriage up?

God is good - His Son endured so much pain, suffering and death for each of us so you wouldn't have to undergo the Divine wrath. But I will say this, IF such things are of God, then it would not be "unholy oppression" you suffer, but a holy and just one.

However - if we do not see Jesus inflicting such suffering on the multitudes to teach them - Jesus, the express image of the invisible Father and the ONLY One who fully revealed His perfect character and will - then why should we believe He has changed now?

No, I firmly believe from the Word of God that the only judgement you suffer from is your own - decisions which seemed right at the time but turned out badly later, just as the Scriptures say "There is a way which seems right to a man, but the way therein leads unto death......" And the tragic miscarriages and near-death episodes your wife suffered are the direct result of Adam's impact on all of creation - as it states in Romans that all sin, death, (and their cousins - destruction, disease, and injustice) moved in through Adam.

I do not say these things lightly, since our family has also suffered much these past four years and I fully understand your wife's feelings.......but truly the Lord is not punishing you and killing your unborn children. He is the Source of your deliverance, not the cause of your misery.

I am praying for you - Love in Christ,

Cassandra

Wesley Said:

Newlyweds and finances question...?

We Answered:

Your headed for problems. Three accounts. Household, his, yours
Both paychecks go into household. From that according to your budget
You each take an allowance and put it in your own checking account
Then you write a check for your emergency savings. This is for home repairs, car purchases and joint expenses. Should be 8 to 12 month os earnings in that account. Next a check for your IRAs, then pay household expenses. This process makes a couple work as one.
Your allowance account is for personal expenses and gifts. That prevents arguments about who spent what. We even have 3 charge cards. His, mine and household. The bills are paid in full immediately from the appropriate account. Together close to 30 years, quite prosperous and have never argued about money