NLIC.org

Josephine Said:

Who gets more help? A native worker or an Asylum Seeker?

We Answered:

The asylum seeker. You would also get more help if you were unemployed or just come out of jail. The last position you want to be in is a family who work and pay tax, no help for those people.

Aaron Said:

Best investment for kids?

We Answered:

Buy Disney stock.

Robin Said:

Pay extra on student loans or save for house?

We Answered:

I strongly recommend you keep paying extra on your student loans, but not quite as much. Homes are very cheap right now with very low interest rates. If you can currently afford a mortgage payment of $100 more than your current rent, which it appears you can, I would recommend you go for it once you have enough for closing cost and understand repairs required if any. Having a home will open up your options.

If you so choose, you may have a roommate to help cover your mortgage, which will provide you with more money to put towards your loan or living more comfortably. Consolidating your student loans to lower your interest rate is another option, however; if you see yourself paying your loan off fast, the consolidation closing cost may not be worth it. Another bonus about the house is you may be able to refinance once you have sufficient equity, and withdraw funds out of the value of your house to pay off the higher interest student loans. This week's national refinance rate is 4.26% to give you an idea of savings you may encounter. At the low cost of the homes you're looking for, I see it this way - at $100 more you can start own or you can save $100 and pay someone elses mortgage.

Seek additional advice from multiple finance professionals to acquire as much information as you can before you make this commitment. Write down your questions before you get there, and most importantly, if you don't understand something, let them know! It's their job to assist you in making an informed decision, but not everyone is equally knowledgeable, which is why I recommend input from several parties. It sounds like you're doing well. Good luck!

Elaine Said:

Why isn't PMI (aka Foreclosure Insurance) saving the banks?

We Answered:

Because it doesn't cover the whole amount, only the 20%. So, when a person loses their home they pay ZERO percent, which leaves 80% of the loan as a loss to the bank.

Now, when they try and sell it, they only get 50% of the loan balance, plus they have shelled out thousands on taxes, insurance, upkeep, So, they are still losing money.

Quit believing the government statistics and "experts" they are looking at falsified numbers and calling them the truth.

This has not been caused solely by subprime mortgages, unemployment does not include people who are working and still not able to pay their bills, spending more money will not fix a problem that resulted from spending too much money, housing isn't going to "recover" and I guess we have a long way to go before we hit bottom.

We are being lied to my our politicians, mugged by the corporations we now depend on and sold to the lowest bidder.

baaaaaa say the sheep.

Fix it! Vote the Bums Out 08

Kay Said:

Am I being selfish about money?

We Answered:

Are you kidding? No, you are not being selfish. It sounds like your mother has problems with managing money. If you are "broke" then you do not go out and buy clothes or go out to eat. There are 2 family members that do this kind of thing - spend it all - and then get into dire financial straits. I have said "no" to helping them out. They are old enough to know better. It's hard work to save money. It's a lot easier to spend more than you make than to save some. Good for you!

You don't have to give her anymore money. You do have the option of leaving - saying that you can't afford to help b/c you need to think of savings for the future. Stick to it. Don't let her leave you in financial peril. It's not worth it. I've had to put my foot down. It's not easy but it's a must.