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Aug/12Betsalel CohenAugust 19, 2012
I'm trying to figure out how to start downsizing and am considering using $110,000 of my 401k to pay cash for a small condo at a below market price. I just refinanced my home at 3.375% and would consider renting it out for 2-3 years until the market rebounds a little more in this area. Other than mortgage my only major expense is $25,000 tuition for my daughter who is just entering her 2...
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Jan/12Betsalel CohenJanuary 5, 2012
I am 66 and will retire this June. How can I cash out my 401K and take the money with me to my home country, Hong Kong, where I will spend my retirement years. I will pay the tax at distribution but I am concerned about moving the money out of the country. Will there be any additional taxes or penalties for taking it out of the country? I have $188,000 in the account. ed
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May/11Daniel CohenMay 17, 2011
i have about 25,000/30,000 in credit cared debt,from college for my kid's and being out of work at various time's and finally out of work for good at age 55 from being hurt on the job permentaly with a internal body problem. i can payoff this debt if i want too, but i'm keeping my money intact to generate money in my Roth. my question is should i payoff the debt and start rebuldi...
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Jan/11Mark CappelJanuary 11, 2011
I am 61 and retired 1/1/11 from full-time work. I also have a small business (sole proprietor) that I still work. Over the years, I accumulated three 401 K plans. Two are still with former employers/one I rolled over to a self-directed IRA. I also have my own Roth IRA. I have no need now for income but when I do, does it matter which account I take a 401K distribution from? Would it be bette...
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Dec/10Mark CappelDecember 29, 2010
I'm considering selling my timeshare. I was contacted by a company, International Buyers Group, out of Little Creek, DE. They are not listed with the BBB or the Chamber of Commence in Delaware. How can I find out if this company is a legitimate company or a scam? I have an address and when I Google it, it looks like a residential area.
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BSNov/10Bills StaffNovember 15, 2010
Can I pay extra money for the principal plus the monthly payment for the mortgage loan? I heard this way I lower my principal and is a fast way to pay off my house.
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Nov/10Daniel CohenNovember 15, 2010
My son has two mortgages on his home. I want to pay off his second mortgage and then have him repay me monthly at a lower interest rate. I will be sort of acting as his bank. What form do I use to protect my interests and still allow him to get his federal tax interest deduction? I understand according to the IRS that this form must also be a mortgage secured by this same home I'm refina...
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Nov/10Mark CappelNovember 5, 2010
If I refinance my home and the agent will lend me more than I owe, would the remainder be classified as income or just part of the loan?
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Sep/10Mark CappelSeptember 30, 2010
Citibank charged off my credit card debt of $8500. Now a collection/law firm is telling me that they were hired by Citi to collect the whole amount or a sum of 75 cents/dollar. I am uncollectible and I told them so. They refuse to negotiate below the 75cents/$ even though Citi themselves had been willing to do 45cents/$ with me. This firm does not respond to letters or phone calls. They have...
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Aug/10Daniel CohenAugust 29, 2010
Hello... I have an IRA that is in a money market in a local bank. It is the result of an stock bonus plan from a company that i used to work for. I exercised the option to convert that from stock to an IRA last year. Last year i also went through a divorce. I was able to keep my portion of the IRA. I am in the farming business...my only income right now...this year i have to give my x half o...
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