| Volume 27 Number 10 |
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The People’s Lawyer’s Tip of the Day
Buying a house through what is called a "contract for deed" does not offer you as much legal protection as when you use a more traditional mortgage. A new law, however, gives you the right to convert a contract for deed into a mortgage at any time by requesting the seller convey the property into your name and take back a mortgage.
10 Tips To Raising Money-Savvy Teens
When it comes to financial literacy, today's graduates fail to make the grade. Asked about basic financial concepts, high school seniors correctly answered only 48 percent of the questions, down from 52 percent in 2006, according to the Jump$tart Coalition's recent survey on financial literacy. College students didn't fare much better, with college seniors scoring a 65 on their survey, administered for the first time in 2008. Why do so many miss the mark? It starts in the home. Click here for more.
Job Hunting in the Internet Age
New times call for new methods, including video with your résumé. Click here for more.
Debt Consolidation That Could Put You Further In Debt
The pitch is tempting: "Combine your first mortgage, your second mortgage, your car loan, and all your high-rate credit-card debt into one easy loan with one low monthly payment," says the TV ad for Countrywide Financial's Combo Loan. "It could save you hundreds every month," and let you get cash out. If you're drowning in debt, this sounds like a no-brainer. But while the ad makes paying just one bill a month sound simple, there are plenty of drawbacks. Click here for more.
New Strains for the Sandwich Generation
According to a 2005 Pew Research Center report, 10 million baby boomers, now known as the sandwich generation, are raising kids or supporting an adult child while providing financial support to an aging parent. As seniors are living well into their 80s and 90s, many boomers, especially those with middle-class incomes, experience financial strains as they try to support the generation both above and below them. Click here for more.
Your Money
Should my spouse work, too? Click here for more.
For the Lawyers
Court dismisses landmark lead paint case. Rhode Island's highest court dismissed a public nuisance suit filed by the state nine years ago against three former manufacturers of lead pigment used in residential paint Click here for more.