Personal Finance and Money Stack Exchange
Personal Finance and Money Stack Exchange

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1500 questions
29
votes
6 answers

Destroying Checks Scam?

I am afraid my brother-in-law is getting scammed again but cannot find any info on this present one. Apparently someone sends him checks that he is to destroy. Apparently this bunch amounts to about 40k. In theory he is suppose to get paid to do…
Jd Knud
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29
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7 answers

Can lose everything even when house is almost paid off?

I have a dumb question I've been wondering about. It doesn't apply to me; it's just theoretical. Suppose there's an older couple who bought a house 27 years ago. They have faithfully made the payments on their mortgage, and currently their equity…
BSise
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29
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7 answers

Should I provide my username and password for my brokerage account to my mortgage lender to verify my assets?

I’m applying for a mortgage, and found a potential lender from a referral from my real estate agent. The initial application process seemed normal and very similar to what I’ve experienced with other banks. I expected to verify my assets by…
HPierce
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29
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3 answers

Does Bank Manager's discretion still exist in Mortgage Lending

UK-Based Once upon a time, banks gave mortgages based on the branch manager having known Joe Bloggs for 20 years and making a judgement call about whether he was good for the money. These days mostly everything is done by punching numbers into the…
Brondahl
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29
votes
8 answers

What stops you from using fixed income in developing countries?

I was recently visiting a developing country and noticed that their interest rates are very high — ~15% with government bonds promising ~13% annually. I was just thinking, if the bid ask spread for that currency with the USD is B/A respectively,…
AspiringMat
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29
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6 answers

What can Amex do if I cancel their card after using the sign up bonus miles?

I recently applied for the Amex Gold Delta Skymiles card, with the intention of getting the sign up bonus (60,000 miles after $2k spend in first 3 months) and canceling the card before the first annual fee kicks in (as it is waived for the first…
Runeaway3
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29
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5 answers

Contractor wants client to open checking account

I recently heard about a construction contractor who's building a house for someone, and this contractor wants the client to open a checking account with the contractor's name on it so that the contractor can use that account to pay for building…
BradDaBug
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28
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8 answers

Can a casual investor effectively predict the direction of the stock market?

Is the stock market an efficient market, with assets whose direction of change in prices cannot be predicted by casual investors? The reason I'm asking this is because certain family members are pushing me to "get into" the stock market. They claim…
Bridgeburners
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28
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4 answers

Would switching jobs cause a mortgage to be turned down?

We have an accepted offer on our house. We are currently looking to buy a different house. We went through the pre approval process for a new mortgage and were approved to a certain dollar amount. That being said I am also looking to take a new…
Anthony
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28
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5 answers

What method do I use to pay current expenses while paying off credit card debt?

I’m hoping you can help me with a question that seems very hard to google for some reason. I have $20K in debt on 4 cards, and I have set up a plan to pay off the deferred card on time, and the highest interest after that while still paying minimums…
Chelsea
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28
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1 answer

What are the limitations of use of "Electronic use only " debit card

I have a visa electron debit card and there is "electronic use only" marked on it, so I don't know where or when I can't use my debit card ?
AyoubM
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28
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10 answers

Why is insider trading illegal?

I feel I must first make the confession that I know very little about stocks and trading them. But when I heard the news of Raj Rajaratnam convicted and what he was convicted of (insider trading), it go me to thinking. Why is it considered illegal?…
System Down
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28
votes
6 answers

Ideal net worth by age X? Need comparison references

Is there a website resource that gives suggestions for how much savings or net worth I should have at any given age, based on my education level and salary? I'm in my 30s, have no debt, and have been maxxing out my 401k and contributed other…
stackoverflowuser2010
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28
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3 answers

Do traditional and Roth 401k have the same annual contribution limit?

According to everything I can find, the annual contribution limit for both traditional and Roth 401k is the same ($16500 in 2010). Since the Roth is post-tax, doesn't that mean I can save more for retirement by maxing out a Roth 401k than by maxing…
Mark E. Haase
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28
votes
2 answers

Charging the company I work for to rent from myself

I have a Vacation Rental By Owner (VRBO) rental in a city that the company I work for (large company - W2) requires I travel to regularly. I am authorized to use either hotels or VRBO/AirB&B rentals when I travel. Is there any financial / tax reason…
maplemale
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