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Join our exclusive Money Masters group

By Bankrate · Bankrate.com
Friday, February 24, 2017
Posted: 5 am ET
Join our exclusive Money Masters group

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Have a financial question? You've come to the right place!

Our Money Masters page on Facebook is a private group that offers you direct access to our team of financial experts. As a member, you'll be able to ask questions and get personalized advice from some of the sharpest minds in personal finance.

Money Masters was created to help consumers maximize their money and master their finances. As we all move along life's financial journey, we'll inevitably have questions to ask and stories to share. You can ask anything finance-related in this group and we'll have one of our analysts provide their expertise. We also encourage engagement from all group members, whether you want to share your story or need specific advice.

We hold frequent contests with gift card prizes to reward members for staying on top of their finances. We'll also have a few money-saving challenges coming up soon.


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49 Comments
Edward Lara
July 31, 2017 at 3:23 pm

I eventually want to sell my rental property to help fund my kids college expenses. What is the best way to sell and transfer to a college account to lesson the tax burden on the sale?

Dave
July 20, 2017 at 9:00 pm

Need an accurate calculation of capital gains tax on the sale of rental property.

Will provide details on request

Thank you

John Dorian
June 08, 2017 at 10:43 pm

How come if i pay 500$ on my car loan every month the amount that goes towards interest goes up and the ammount that goes towards principal goes down some months.

If i'm paying towards the principal wouldn't the amount of interest always be decreasing.

Example:
Date Principal Interest Total
06/01/2017 -$445.68 -$54.32 $500.00
05/01/2017 -$449.91 -$50.09 $500.00
04/03/2017 -$439.77 -$60.23 $500.00
03/01/2017 -$447.87 -$52.13 $500.00
02/01/2017 -$458.21 -$41.79 $500.00
01/10/2017 -$445.90 -$54.10 $500.00
12/13/2016 -$446.89 -$53.11 $500.00

How do they decide what goes towards what. Seems deceitful to me.

Janelle leMire
March 27, 2017 at 2:42 pm

My mother is 84 years old and is talking about a single life annuity stops at death of $100,000 at 10 years. I don't think this is a good idea. I think she is making a big mistake. What are your thoughts?

sam
March 23, 2017 at 1:38 pm

I was gifted a home outright there is nothing owed on it and it is only my name on the title. I have poor credit in the 500 550 range and I need cash now. Is there any loan type I can get without having to wait six months. I'm on permante disability and work part time total income about 2 k month no other debt but 500 on a credit card. I have no other debt and home appraised at 350,000 two years ago. Who and what can I do to get cash out of this house fast it is needed for medical reasons. Thank you

Teresa
March 20, 2017 at 8:41 am

We lived in a home until July 2014 and moved due to a job relocation. We rented our home out and are looking to sell it to the current renters in November 2017, when they have a down payment. We just miss the 2 out of 5 years by a few months. Is there a circumstance that we can avoid the capital gains tax on this house? We own another home and would be rolling the proceeds into our primary residence's mortgage (if that makes any difference). The proceeds would be about 200k after paying off the mortgage from the rental.

Maude White
March 20, 2017 at 8:02 am

My I have been trying to receive my tax refund since 2014. First they questioned my dependants. I sent in they accepted all the information I sent. I have been carrying the same dependants for years still do. I have defences 2015 & 2016refund with no problem but have yet to receive 2014.Every years I call to inquire about my taxes only to get targeted to different departments and put on hold four hours. What other avenue can I do to get answer. This is not right for the irs to just take my refund with no explanation if I owed them my checks would have been garnished ama all kind of interest charges would be attached.

George Michaud
March 19, 2017 at 5:27 pm

That's 40,000 in equity not 440,000

George Michaud
March 19, 2017 at 5:26 pm

I'm 70 years old and 100% disabled. I acquired about $40,000 in credit card debt. I don;t know how but it appears I did and they are threatening to attached the near 440,000 equipty in my homee. I make a mere $923.00 a month and that barely enough to pay the current mortage but I make it. How can I protect my home. I can't even afford to pay for a bankruptcy?

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