| Volume 18 Number 5 |
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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.
What All Women Should Know About Retirement
It's a fear that lurks in the back of every woman's mind -- the fear of being a bag lady. It doesn't take the sight of an older woman pushing a shopping cart with all her belongings to summon up the worry about being older, alone and without enough money to stay in control of our own life. Women worry with good reason: They outlive men. At age 60, a man has a life expectancy of 18.9 years. But a woman at age 60 now has a life expectancy of 23.1 years. Those four extra years of life will be expensive. And they'll come when you may have the least ability to make good decisions. That's why it's important to start planning while you're in good health and when time is on your side. Click here for more.
Beware Tax Bite After Losing Your Home
Ordinarily, the tax code provides lots of rewards for homeowners. Your mortgage interest is deductible, which reduces your tax bill. Interest on a home equity line of credit is also deductible; it reduces the cost of borrowing against your home to put in granite countertops. And if you've lived in your home for at least two years, you can sell it and pocket $250,000 of the profit,$500,000 if you're married,tax-free. But when home prices are declining, as they are now in many areas, tax breaks for homeowners are hard to find. In fact, the tax code may compound your troubles. Click here for more.
Financial Rules of Thumb
Everyone has a unique situation, and there are no concrete financial numbers that define success, but there are some rules of thumb that can help you gauge your progress. While following these rules won't guarantee success, they will put you on the right track. Click here for more.
Medicare Audits Show Problems in Private Plans
Tens of thousands of Medicare recipients have been victims of deceptive sales tactics and had claims improperly denied by private insurers that run the system¿s huge new drug benefit program and offer other private insurance options encouraged by the Bush administration, a review of scores of federal audits has found. Click here for more.
Your Money
Your next car, new or used: Which is right for you? Click here for more.
For the Lawyers
Cellphone company can arbitrate Communications Act claims. The 9th Circuit has held that a cellular telephone company may enforce an arbitration clause in its customer service agreement after it was sued for improper billing in violation of the Federal Communications Act. Click here for more.