By the time you read this, I’ll be on vacation in Ireland. I will rent a car and drive around the country. Naturally I don’t want to expose myself to losses resulting from a car accident while I drive a rental car in Ireland. I did some research in rental car insurance. I’m sharing this […]
Latest Blog Posts
Is an Escrow Waiver Fee Worth It?
Last week was week 3 for my mortgage refinance. Here’s what happened in week 3 with a brief recap for week 1 and week 2: Week 1. Found a good rate. Filled out application. Week 2. Locked rate. Signed disclosure documents. Faxed supporting documents. Monday May 4, 2009. An appraiser came and did an appraisal. […]
Mortgage Broker vs Mortgage Lender
My mortgage refinance process is continuing. Here’s what happened in week 2 with a brief recap of week 1. Week 1. Found a good rate at National Mortgage Alliance (NMA). Received quote on GFE. Filled out application online. Monday 4/27/2009. Rate lock confirmed. 4.5% for 15-year fixed. Lender credit covers all closing cost. Escrow waiver […]
Quit Obsessing with the Credit Score
I’ve said it before, and I will say it again: dear media, please quit obsessing with the credit score. Last week’s episode of the NPR program Marketplace Money was about credit and credit scores. One of the stories was The power of FICO. It featured Pete Deibel of Winter Park, FL (emphasis added by me): […]
Waiting For a No Cost Mortgage Refinance
Ever since late last year, there have been numerous news reports about the mortgage rate going to 4.5% or the mortgage rate reaching historical lows. The headlines read Treasury mulls plan to lower mortgage rates to 4.5% (CNN, 12/4/2008), Mortgage Rates Fall to Another Record Low (Fox, 4/2/2009), and so on. Then how come I […]
Upselling at the Post Office
I went to the post office to mail my tax returns yesterday. While the postal clerk was placing the certified mail stickers and printing the receipt, I noticed a printout under the glass on the counter. The title the page said FY 2009 Mystery Shop Script. It’s the instructions to the clerks for what they […]
What Exactly Do You Do with Something That Could Be the Deal of a Lifetime?
Although it’s April Fool’s Day, this post is not a joke. My favorite mutual fund company Vanguard started a blog at vanguardblog.com. A team of five investment and communication professionals write for the blog. I have high hopes for it but I wish it were better. In one article, Forecasts and second marriages, Craig Stock […]
Just Say No to Fee Surcharges
I was short on cash last week. There’s an ATM here in my office building. It’s from a credit union near us. Several times a year, I see this credit union promoting their services at a table near the cafeteria. Credit unions have a reputation for being “the good guys.” They are said to play […]
Sunk Cost and Getting Your Money’s Worth
I went skiing last Saturday. The condition wasn’t great. It was windy and cold. I knew that before I went, because I read the weather forecast. I went only because I bought a season pass last year before the season started. If I didn’t have the season pass and a friend offered me a free […]
A Low Stock Price Is Neither Cheap Nor Less Valuable
I heard a comment on a New York Times Weekend Business podcast saying that a share of GM stock can’t buy a gallon of gas for a Chevy and a share of GE stock can’t buy two energy-efficient compact fluorescent bulbs (as of a week and half ago before the bounce back). While true, I […]