Heather Ellis Banks's blog

In a prior blog post, I discussed what a Reverse Mortgage is. I also went into detail about some of the basic rules to qualify for one, where you get them, and cautioned about the negative aspects of them.  The U.S.

Over the years, I have talked with several people who were apparent victims of a criminal scheme to get money through deceptive means.  I have heard stories of online romance that turned out to be completely false and a ploy to bilk a lonely person with access to money and/or assets.  Some individuals cashed out all of their savings and/or retirement accou

Under bankruptcy law, debtors are permitted to claim exemptions.  Exemptions allow a debtor to exempt or remove property from the bankruptcy estate to protect it making it unavailable to the trustee or creditors for liquidation.  Each state has its own exemption laws;  however, there are times when it is appropriate to use federal exemptions.  An attorney would need to determine what set of exemptions a debtor should claim.

If you have more debt than you can juggle, it is always wise to seek the advice of a bankruptcy attorney. Bankruptcy may not always be the best course of action, but if it is, here is an overview of the process.

Do you hear commercials or see ads everywhere that say, “Need some extra cash?”  “Want to work from home?”  It is everywhere.  Have you ever heard the term Multilevel-marketing companies?  They are also called MLMs or are doing “direct-sales.”  They are very similar or arguably could be called a pyramid scheme.

Divorce can be a very challenging process for many.  There has been an upward shift in divorce after 50.  Researchers coin the phrase “Gray Divorce” to describe this.  The National Center for Family & Marriage Research reports the divorce rate among adults over age 50 doubled and tripled for those over 65 between 1990 and 2014.

CNBC’s Diana Olick reports that two major lending changes mean it may be easier to qualify for a mortgage.

A recent CNBC article says according to a 2013 survey of consumer finances by the Federal Reserve, approximately 42% of households with someone age 65 to 74 have a home secured by debt.  This number has grown from only 18.5% in 1992 and 32% in 2004.  It is expected that this figure will continue to rise because an estimated

Every day I speak to someone who has student loan issues.  More recently, I have people coming in asking what they can do once their IBR (Income Based Repayment) plan ends with the federal government.

A 401(k) is a great tool for saving for retirement.  Most of us worry about having a enough money for retirement and 401(k) allows for reducing taxable income and it also is an exempt or protected asset from most all creditors.  In counseling individuals with financial problems, I am often asked whether a 401(k) loan is a good idea. It really just depends.