Ask Joan Perry

Greetings….and thank you for coming to Ask Joan Perry for the answer to your question. 

Now, Ask me your question about Making Money, Investing Money, Growing Money and/or Protecting Money — because these are the keys to financial freedom. 

Getting clear with good strategies, beliefs and behaviors in each one of these areas will get you to financial security.  So, what’s up with you, what can I answer for you?  Please succinctly write your question below for a personal response. 

1. What should I do with my mutual funds right now to protect my investments in these volitale market conditions?

2. Hi Joan - I have, for me anyway, an extraordinarily large number of individual bonds these days - opportunistic holdings from carnage of last year. Do you know of a program (cheap / free) that will amortize my premiums / discounts easily for tax purposes? - I can do it by hand but that isn't any fun!! Old and lazy!! Hope all is well - an old SDHS classmate David Zientara here.

3. Dear Joan, I saw you mentioned Pacific Life and Nationwide Variable Life Insurance in your take Charge Financial website. I would like to know if you offer those, and if you do, please tell me the difference between the 2 or advantages and disadvantages of the 2. I would also like to know the procedures and charges of your financial management. Thank you very much! Best Regards, Thuy

4. I also have a Wells Fargo home loan that is funded by a private investor. I was offered a forbearance agreement (without even asking! I just stopped paying my loan) for 3 months at a payment about half of what the regular payment is. My house is rented, I don't live in it and am growing tired of dealing with renters. I also have a second for about $90k that is not part of this forbearance. The rent paid was not enough to pay property taxes and insurance or the entire mortgage so the amount I was negative I put on my credit cards, which has accumulated over the past 2 years to $40k of credit card debt. I am considering just letting my house get foreclosed and filing bankruptcy to make the whole mess go away so I can start fresh. There is no guarantee that after the 3 months of the forebearance plan that they will modify my loan. My current renters leave at the end of July and I have not had any luck so far finding new tenants. I could move back into the house, but it would mean a very long commute. Do you think it is worth trying to save the house or is bankruptcy a better option?