Surviving the Credit Crisis – Karen Simpson-Hankins, CTACC

In today’s business world, it seems like employers are looking for more leadership and management skills in their young executives than ever before.  Some companies are now requiring an MBA at entry level and/or for advancement.   Getting your MBA (Master of Business Administration) is the most prestigious degree in the business world.  With new online programs designed for … Read more about this episode...

Are you a spender, saver, or a good steward of your money?  Are you financially free? The secret to financial freedom is not zero debt, that’s being completely unrealistic!  Debt is a necessity of life in our society today.  The real secret is Cash Flow! Join me as my guest, Chris Miles, the Cash Flow Expert, and I … Read more about this episode...

I am continually preaching to my clients that using a Mortgage Broker when shopping for a mortgage will save you money, because a Mortgage Broker is not limited to one supply of money like that of a bank.  Dealing with a broker gives you more options and options will always save you money!  The same is true when shopping for … Read more about this episode...

We’ve always been taught that it takes money to make money.  Why is that?  It’s amazing the lies we tell ourselves when it comes to doing something different or stepping outside our comfort zone. Join me as my guest, Chris Miles, the Cash Flow Expert, and I discuss all the things that are keeping you from making the … Read more about this episode...

The rich keep getting richer, but most Americans aren’t so lucky! According to a survey released recently by Bankrate.com, 37% of Americans have credit card debt that equals or exceeds their emergency savings.  Not only do they not have enough savings, they’ve used up some portion of their available credit, so they are running out of options when— and … Read more about this episode...

Have you ever looked at a $20 bill and thought about where it’s been and how many people have touched it?  If you think about it, it’s can be a little unsettling and in reality may make you wonder  “What’s in your wallet?” in more ways than one! The average $20 bill is in circulation for 7.7 years, according to … Read more about this episode...

Have you ever wanted to invest in the stock market, but it seems just too intimidating?  The corrections that we’ve witnessed in the stock market of over 50% twice in the last decade can leave even the most savvy investor wondering what’s next.  Quantitative easing, the European markets, and other global factors are still causing vigorous and sometimes unexpected fluctuations … Read more about this episode...

You are a buyer or a seller and you find yourself in need of a Realtor.  How do you determine who you should use?  Are they a full-time agent or just moonlighting?  Do you call on yard signs? Join me today as my guests, Dr. Bennie Waller and Dr. Scott Wentland, Professors at Longwood University in Finance and Economics, … Read more about this episode...

Divorce is a difficult, stressful, and emotionally draining time in anyone’s life!  Not only are you dealing with the end of a once loving and trusting relationship, you also have to realize how that emotional element can affect your financial stability, credit report, and scores.  Just because you may be divorcing your spouse that doesn’t mean you’re divorcing your creditors!… Read more about this episode...

With the New Year comes a time of reflection!  One of the things that you may be looking at to make a change in 2015 is a way to remove that constant worry of debt.  Debt can ruin relationships, your personal health, your dreams, your retirement plans, and your overall financial wealth! Join me today as my guest, Greg Melia… Read more about this episode...

Women face special challenges when planning for retirement.  Because their careers are often interrupted to care for children or elderly parents, they may spend less time in the workforce and earn less money than men in the same age group.  As a result, their retirement plan balances, Social Security benefits, and pension benefits are often lower.  In addition to earning … Read more about this episode...

Roughly one in three people who received data-breach notification letters in 2013 – 2014 became victims of fraud!  A ratio that continues to worsen from 2012 and 2011 levels.  Due to large Department Store (i.e. Home Depot and Target) data breaches, more than 13 million U.S. consumers were victimized by identity fraud in 2013, while overall loses on existing debit … Read more about this episode...

Is this a want or a need?  A question that I have begun to ask myself each time I need to make a money decision and it’s amazing the difference that it’s making in my life.  Being financially successful, isn’t always about making MORE money.  It’s about keeping the money that you’ve got!  Don’t let seemingly endless dollars slip through … Read more about this episode...

BUYING A HOME is usually one of the biggest dreams we have as adults. But signing and closing on a mortgage loan is really just the beginning of your homeowner responsibilities! Once you close, it’s always important to factor into your life the unpredictable or unexpected things that can show up and sometimes blindside you if you’re not prepared.  … Read more about this episode...

It’s that time of year again when everyone is busy shopping and preparing for Christmas. I know for me, the stress of trying to get everything done between Thanksgiving and Christmas can be overwhelming! You’re trying to share your time, gifts, and good wishes with everyone you care about and the Christmas spending can get out-of-control! The media, TV, commercialism, … Read more about this episode...

Join me today as my guest, Harris Glasser, Author of the best-selling book “It’s My Money & I Want it!” and I discuss how Harris’ lifetime experience as a successful entrepreneur in a variety of successful businesses has taught him how to easily deal with various financial situations, so that you can keep that hard earned cash!  This is … Read more about this episode...

We’ve heard so much about foreclosures in the news, especially during the mortgage/credit crisis, but are foreclosures still impacting our markets today? The short answer is…Yes! Some areas more than others, but regardless of where you live, a foreclosure in your neighborhood will impact the resale value of your home and maybe even the perception of your entire neighborhood! Join … Read more about this episode...

Buying a home can be one of the most challenging investments we make in our lifetime. The complexity of the transaction combined with your own unique financial goals and the lender’s depth of knowledge can leave everyone in a state of confusion. The solution is understanding how to determine the best lender and loan for your long or short-term goals.… Read more about this episode...

Money affects every element of our lives, but are you in control of your money or is your money controlling you?  I’m not talking about budgeting, though having a budget or plan is important.  I’m talking about being able to identify your wants from your needs… and that can take some thought!  What early life lessons have shaped your view … Read more about this episode...

We continually talk about the importance of a reliable cash flow when it comes to financial security and growing wealth.  And while I believe in diversified investments, I have always believed that you can never go wrong with real estate.  The important thing to remember though is that it’s usually a long-term investment.  An investment that rides the waves, … Read more about this episode...

For a Senior homeowner, there comes a time when the family home is no longer a good fit for their needs.  The home may be too large, too expensive, or too much work to maintain and the Senior needs to downsize. Join me today as my guest, Sam Benson, a Walnut Creek California Real Estate Broker, and I … Read more about this episode...

How do you create real everlasting wealth?  The kind of wealth that is here today and tomorrow! Join me today as my guest, Chris Miles also known as “The Cash Flow Expert” and I discuss the 3 steps to everlasting wealth. It’s all about working smarter not harder and mindset plays a big part to your success! Learn how cash … Read more about this episode...

When I’m working with a client on a new home purchase, one of the first things I recommend to them at application is to start shopping for homeowner’s insurance.  There are so many things to think about when shopping for insurance and building a lasting relationship with your agent!  Not only do you want to have the right coverage, … Read more about this episode...

Every day, I speak with potential home buyers looking for their piece of the real estate dream.  But with a tight inventory and lower priced homes in short supply, prices continue to climb and we are back to the days, pre-credit crisis, when multiple offer situations were a normal part of business!  Clients tell me that they find a house … Read more about this episode...

Manufactured Homes can be a lower cost option for many home buyers, especially those looking for acreage.  But…they are a unique product type and come with a separate set of lending requirements.  Due to the credit crisis these last few years, lenders are being a lot more critical and cautious when it comes to what they consider to be higher … Read more about this episode...

In the past, retirement used to be constructed like a 3-legged stool with pension, social security and savings. But in today’s environment many companies are doing away with pensions and social security is being delayed, taxed or potentially reduced! This is requiring consumers to save more now to ensure that they will have a sufficient cash flow for retirement down … Read more about this episode...

With the continued tightening of underwriting guidelines by lenders, an appraisal is the most critical component in determining risk by the lender. But…from a consumer point-of-view, I am continually asked, “Is an appraisal really necessary?” I don’t believe that most consumers really understand what an appraisal actually is, what it includes, and how a lender will evaluate that information when … Read more about this episode...

Join me today for another episode of “Ask Karen” where I dedicate the entire show to answering your questions. We’ve been getting a ton of questions from Facebook, LinkedIn, and my blog and I’m sure we’ve got the answers that you’ve been looking for! The topics we will be covering today include: · What is a full-documented loan? · When … Read more about this episode...

Very few options remain in this new real estate economy when it comes to zero down payment options, but the USDA Guaranteed Rural Housing Loan may just be the home loan program that you are looking for. It can be the perfect option for low to moderate income home buyers and the best part is…you don’t have to be a … Read more about this episode...

Did you know…It’s a fact that many people fail to get the best deal possible when shopping for a home loan? It’s true…and they end up paying more in upfront fees and unnecessary interest that can last the entire life of their home loan, primarily, because they don’t know the proper questions to ask when interviewing a lender. Yes…YOU heard … Read more about this episode...

Real Estate is an increasingly complex, highly competitive, and fast-paced industry, and tomorrow’s professionals require advanced knowledge and training to excel in this field. Graduate studies in real estate are in demand more than ever because an MBA in real estate can open doors to greater job and career opportunities. Developed especially for working real estate professionals, Longwood University’s NEW … Read more about this episode...

Credit and Credit Scores have to be the most understood element in the entire home buying/credit process. Actually, anytime you want or need a loan your stress level begins to climb! As you sit and wait for the lender to describe your fate many thoughts cross your mind. “Do I even know what’s on my credit report? Will it be … Read more about this episode...

If you have ever bought or sold a home…or are about to buy your first home, I’m sure you’ve seen a charge on your Good Faith Estimate or HUD1 Closing Statement for title insurance and escrow fees. But what actually is title insurance? And…what does it cover? Join me today as my guests, Charlie Cookson and Sharon Kunkel of Western … Read more about this episode...

With the philosophy that the perfect way to calm the housing fears of today’s home buyer is to provide them with the tools they need to be successful, I decided to begin a monthly question and answer session here on “Surviving the Credit Crisis.” Here, I dedicate an entire show to answering your questions! Last month was the first show … Read more about this episode...

With the rising cost of college and the financial illiteracy of both parents and students, student loans are becoming an unspoken cycle of debt for many Americans, both young and old! Is adequate financial education, the importance of career and credit planning, and the necessity of budgeting being discussed by educators, parents, and the student loan industry as a whole? … Read more about this episode...

I was recently reading an article about Payday Loans written by my guest, Aaron Crowe and I knew I had to have him on the show! Aaron is a personal finance freelance writer that writes for many different financial blogs and media sources. In the article entitled, “Smarter Alternatives to Payday Loans,” Aaron researched the fact that a typical two-week … Read more about this episode...

Real estate prices are on the rise and Central Oregon is no exception. Inventory is down and demand is causing prices to climb! Everywhere you look in the media, the city of Bend and the entire Central Oregon area is being touted as the place to live! The “quality of life” and “the outdoor recreation opportunities” are making national media! … Read more about this episode...

Buying a home can be one of the most challenging investments we make in our lifetime. The complexity of the transaction combined with your own unique financial goals and the lender’s depth of knowledge can leave everyone in a state of confusion. The solution is understanding how to determine the best lender and loan for your long or short-term goals.… Read more about this episode...

What actually is that “Wow” factor when it comes to making money and taking your income to a whole new level? There are several traits that people who make a lot of money exhibit on a consistent basis. Do you know what those factors are? Do you see the world as a world filled with abundance and possibility or are … Read more about this episode...

You want to buy a home, but you just can’t seem to find the funds for down payment. I’ve got you covered! As one of only a few NHF-approved lenders, Academy Mortgage is pleased to offer an exclusive loan solution and grant program for low- to moderate-income individuals and families in California, Oregon, Washington, Idaho, and Colorado. Through the NHF … Read more about this episode...

You are a financially wise woman and you are smarter, wise, stronger, and more powerful than you think! Don’t let your financial past dictate your financial future. Join me today as my guest, Brittney Castro, a certified financial planner and personal financial expert for women, and I discuss the “10 Things Every Female Should Know About Money” and their … Read more about this episode...

Real estate is about location, location, location! However, there are unusual location factors that can affect a home’s value that you may not think about. Don’t get caught unprepared! Join the conversation as my guests, Dr. Bennie Waller and Dr. Scott Wentland, Professors of Real Estate and Economics at Longwood University and I discuss how registered sex offenders, rehab treatment … Read more about this episode...

Buying a newly constructed home is a big decision and you want to get full value for your investment. This means choosing an established and reputable builder – someone you can trust, someone who has the technical skills and knowledge to build a good home, and someone who will deal with you fairly and professionally. Remember that when you buy … Read more about this episode...

The Home Loan Process is defined by what takes place before, during, and after you have an accepted sales agreement. During the entire process, your realtor will play a critical role in making this a fun, exciting, and safeguarded experience, where every aspect of the transaction flows smoothly and on time. But…It’s important to work with the RIGHT realtor! So … Read more about this episode...

Credit, both good and bad, can be a very confusing reality in our financial lives. But…bad credit does not need to kill your dreams! It just takes some very necessary action steps to get you back on course! Join me today as my guest, Kerry Lutz; attorney, author, and the radio talk show host of “Financial Survival Network” and … Read more about this episode...

Are you sick & tired of being in debt? Do you feel your spouse or significant other is on the same page when it comes to finances? Do you feel you’ve achieved financial oneness? Do you have a financial accountabilty partner? Is your accountability partner your spouse or maybe….someone else? Do you have bank accounts or debt that NO ONE … Read more about this episode...

You’re out shopping for a home and you see a home that you like with a For-Sale yard sign. The first thing you do is call the real estate agent listed on the sign. But…is that really the best thing to do? Join me today as my guest, Bennie Waller, Professor of Finance and Real Estate at Longwood University… Read more about this episode...

Have you ever felt that you have too much month at the end of your money? Are you making more money in your business, but wondering where it all went? Do you ever wonder how your money can start working for you instead of you always working for money? The truth is, you probably bring in enough, but unknowingly money … Read more about this episode...

Year end is a time of reflection, and it brings with it the desire to start fresh and the habit of making resolutions with the hope of a new and prosperous year! But, when we really sit down and plan our new year, do we really do anything different? The same is true when comes to money and debt! A … Read more about this episode...

It’s that time of year again when everyone is busy shopping and preparing for Christmas. I know for me, the stress of trying to get everything done between Thanksgiving and Christmas can be overwhelming! You’re trying to share your time, gifts, and good wishes with everyone you care about and the Christmas spending can get out-of-control! The media, TV, commercialism, … Read more about this episode...

With the continuing tightening of underwriting requirements very few zero down payment options remain for home buyers! Introducing the U.S.D.A. Guaranteed Rural Housing Program! It can be a wonderful option for low to moderate income home buyers and the best part is….you don’t have to be a first-time home buyer! The program is also available to repeat buyers as long … Read more about this episode...