How to Jump-Start a Tax-Free Retirement Plan

Many home owners and small business owners have put off retirement planning, and now realize they have not put aside enough money for retirement.  New video shows how small business owners can jump-start a tax-free retirement plan by leveraging low yielding assets like accounts receivable and inventories to accelerate wealth building.

How to Jump-Start a Tax-Free Retirement Plan

Tax-Free Retirement Plans

Many home owners have seen the equity in their homes disappear, and they are now relying more and more on the value of their retirement plan.  Retirement plans are ripe with tax traps that crush your retirement savings.  New video by the Retirement-Toolbox.com discusses the tax traps and how to avoid and lessen the damage.

How to Jump-Start a Tax-Free Retirement Plan

Home Sales Held Hostage by Junior Lien Holders: Mortgages

Tough bargaining by second-lien holders is delaying deals and killing some short sales, even as banks embrace the practice to avoid costly foreclosures and help clear the market of homes that are worth less than the loans on them, said Vicki Been, a New York University law professor who has studied mortgages.

The right to collect on unpaid junior liens varies with state laws and type of loan. In 39 states, including Florida and New York, lenders may seek deficiency judgments, giving them recourse to pursue borrowers for unpaid mortgage balances. 

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Mortgage Refinancing Unattainable for Many

Mortgage rates hit new lows and applications to refinance fell for the third straight week. It defies logic, unless of course you operate in today's tight mortgage market.

It's not just about the rate anymore. Negative equity, strict underwriting and big bank backlogs are keeping many borrowers from taking advantage of these incredibly low mortgage rates.

"If history is any lesson, the only thing that can really extend refi activity in a low rate environment is a loosening of underwriting standards to bring more borrowers into the market. And that is not likely to happen anytime soon," said Guy Cecala of Inside Mortgage Finance.

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More homes put on mortgage foreclosure list

LOS ANGELES — Banks are increasingly placing homes with unpaid mortgages on a countdown that could deliver a swell of new foreclosed properties onto the market by early next year, potentially weighing further on home values.
June provided the latest evidence of this trend, as the number of U.S. homes entering the foreclosure process for the first time increased on an annual basis for the second month in a row, foreclosure listing firm RealtyTrac Inc. said Thursday.

Read more: http://www.timesunion.com/business/article/More-homes-put-on-mortgage-foreclosure-list-3703585.php#ixzz20X2NcZDF

Thirty-year mortgage rate drops to another record low

Mortgage buyer Freddie Mac says the average rate on the 30-year loan fell to 3.56%. That's down from 3.62% last week and the lowest since long-term mortgages began in the 1950s.


http://www.usatoday.com/money/economy/housing/story/2012-07-12/mortgage-rates-down/56165398/1

Mortgage applications boost Wells Fargo results

Wells Fargo reported higher earnings, higher revenue, and a record number of mortgage applications on Friday.  read more

Consumer Sentiment Drops to Lowest Level This Year on Labor-Market Fears Read more: Consumer Sentiment Drops to Lowest Level This Year on Labor-Market Fears

Confidence among U.S. consumers unexpectedly declined in July to the lowest level this year as the labor market showed few signs of improvement.
The Thomson Reuters/University of Michigan index of consumer sentiment dropped to 72 this month from June’s 73.2 reading. The gauge was projected to rise to 73.5, according to a median forecast of 69 economists surveyed by Bloomberg News.

Read more: Consumer Sentiment Drops to Lowest Level This Year on Labor-Market Fears