Housing Market Begins to Turn The Corner in 2012

CoreLogic's chief economist Mark Fleming says housing stats indicate that 2012 may be the year the housing market turns around. So NOW is the time for investors to look for investment properties - before prices re-surge. So if your credit isn't ready - now is the time to get that done with Buyers Credit Coach!

Payday Loans, Fast Money or More Problems?

January is normally a difficult month and can be stressful for families.  The holidays are gone and some families are finding it hard to pay bills. Payday loan companies often introduce themselves as the help families are looking for in such a pinch. Seeking help from companies that offer payday loans or cash advances on your next paycheck can be tricky. Loan companies require you to write a check for the amount you’d like to borrow plus an additional interest fee to cover their services. You receive money while they anticipate cashing your check on the prescribed date of the check. This is nothing but a temporary fix and the additional fees you pay is often a future burden.  One thing leads to another and often people find themselves drowning in advance debt!!!

How Do Payday Loans Work?

Simple, all that is required is for you to fill out a simple application and sign a few forms. Once you are approved, you get the money in hand or you can have it deposited into your bank account. This sounds all too easy and people flock to these companies by the thousands.  On your next payday, your account is debited for the amount you owe and the fees that have accumulated. No collateral is necessary or accepted.  Please use extreme caution if you take this route to overcome short-term cash shortages. I recommend alternatives to this quick fix, because you will pay more in the long run.

Coach-Credit!

Money, Money, Money… I Want My Tax Refund Money Now!

There are many people who are gathering their tax information to get a jump on filing income taxes for the year ending 2011.  Here is an example of a tactic that will be used this year to help people file for money quickly!  These businesses prey on those who have less than perfect credit and find it difficult to extend credit on normal circumstances. The results can be overwhelming, stressful, and embarrassing. If you find yourself having to use these services, please use caution and make every effort to read the fine print. –Coach!

The New Year means tax refund time, an opportunity or a source of funds for millions of people nationwide. While April 15, 2012 may seem like a lifetime away, cashing in on your refund in the form of a Refund Anticipation Loan (RAL) can be a source of lost funds/money for the person who jumps the gun.

Many tax preparers and companies offer to pay their clients tax refunds before receiving money from the government. While you may think this is a simple and convenient cash advances, think again. The same preparer will likely charge fees and interest on top of the loan amount, reducing your overall refund. If you can make some sacrifices and hold out just a little longer, the refund will yield its maximum return.  Good luck and watch your money.  Coach!

Coach Credit in the AJC newspaper today!

http://www.ajc.com/opinion/fix-holiday-habits-to-1288903.html#.TwSAtsXtZC0.email

Coach Credit sends up some good advice for the post-holiday budget!

Who can claim the home mortgage interest deduction?

Just a little financial advice from Coach Credit and friends:

You can only claim the mortgage interest deduction on your tax return if you are liable for the repayment of the loan.

In other words, you must be named on the mortgage.

The tax court has recently ruled against a taxpayer who was trying to claim her boyfriend's mortgage interest on her return.  Although she was making the payments on the loan, the mortgage note was under the name of her boyfriend only.  As a result the court ruled against her deduction and she had to pay the fines and penalties associated with the corrected tax return.  (Wheeler, TC Summ. OP. 2011-83)

So an important lesson to be learned is that the IRS is serious about enforcing this deduction and are performing more audits on returns that claim the mortgage interest deduction.

100 Urban Entrepreneurs in Atlanta Sunday Night! Watch for the next one!

100 Urban Entrepreneurship Programs

100 Urban Entrepreneurship

6:30 PM - 9:30 PM  Nov 13, 2011

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BAR ONE ATLANTA
687 MEMORIAL DRIVE, ATLANTA, GA (GRANT PARK)

HOSTS:
JAMES ANDREWS, SOCIAL PEOPLE TV
CLYDE ANDERSON, FINANCIAL LIFE CONNECTION
JODI BROCKINGTON, NIARA CONSULTING AND 100UE

SCREENING OF CNN’S “BLACK IN AMERICA 2” BEGINS AT 8 P.M.

Location:  BAR ONE ATLANTA 687 MEMORIAL DRIVE, ATLANTA, GA (GRANT PARK)

Coach Credit attended this event last night and his take on the event was
"Well rounded professional group of visionaries. Great dialog and specific finance feedback. Invest Atlanta is headed in the right direction. Great job Clyde and James!"

#OWS - Occupy the Voting Booth!