Refinancing Soars as Rates Hit Record Lows; What You Need to Know to Refi
The average interest rate for a 30-year mortgage dipped below 5% this week, a level not seen since the Eisenhower administration. Not surprisingly, homeowners are scrambling to commemorate this historic event by refinancing their mortgages. There's just one problem: In this credit-starved environment, even a five-star general might have trouble qualifying for a new mortgage. If you're interested in refinancing, here's what you'll need: Excellent Credit, Home Equity, Unencumbered First Mortgage, Conforming Loan and Patience.
http://www.usatoday.com/money/economy/housing/2009-01-15-refinance-mortgage-payments_N.htm
100 Best Time-Tested Mutual Funds
A select group of mutual funds emerged from the market disasters of the past two decades with stellar records.
http://www.smartmoney.com/Investing/Mutual-Funds/100-Great-Mutual-Funds/
New Free Filing Option Available for More Filers
If you've never filed your tax return electronically, then 2009 might be the year to get with the e-program that kicks off Jan. 16. Free File with the IRS opens today. For those who make too much money, the IRS offers new e-forms.
http://www.bankrate.com/brm/itax/news/taxguide/20090116-free-file-a1.asp
Is Your Home 'Under Water'?
If you owe more on your home than it is worth you aren't alone. Millions of Americans find themselves in this boat. The good news is there no reason to walk away. There are alternatives when you owe more on your home than it's worth.
http://www.marketwatch.com/news/story/Underwater-mortgage-no-reason-walk/story.aspx?guid=%7B8D516DE7%2D21C4%2D4863%2DBDEC%2DACC140CCB9C6%7D
Obama's Billionaire Buddies
Ever since he ran for the Senate in 2004, Barack Obama has had a wealth of 10-figure tycoons advising--and funding--him. His buddies include Google's Eric Schmidt, Hyatt hotel heiress Penny Pritzker, Microsoft's Bill Gates and Steve Ballmer, Movie director George Lucas and more.
http://www.forbes.com/home/2009/01/15/obama-backers-billionaires-biz-billies-inauguration09-cz_co_0115funding.html
New Rules of Car Buying
You've seen the headlines: automakers on the brink, sales slowing to a crawl, credit tighter than ever. Yet amid all of this gloom there's a silver lining: deals of a lifetime. But to snag one, you have to learn how to navigate today's uncharted market.
http://money.cnn.com/2009/01/15/autos/car_buying.moneymag/index.htm?postversion=2009011605
Closing Bell: Economic Catapult for Thanksgiving & Black Friday (WMT, TGT, GRMN, GOOG, MSFT)
Deere up on Q4 earnings performance
Reid Hoffman: LinkedIn will go public (at some point)
