Financial Affairs and World News

Suresh P asked:


I own two condos one, I live the other I am renting out. Both dont have any equity yet. I already have 51% debt to income. I can still afford MXM 5K down including closing costs and tax prepayments. My interest is to buy foreclosures and sell after ~2 yrs. I am aiming at high end units that can currently be bought at ~200K but will apraise to ~350 in about 6mos. Is there a way to find finance in this situation.

Jenny S asked:


I am an Industrial engineer and want to make a move to Corporate Finance, one of the questions I get most often is why do I want to make such a career change and how I see myself fit into this role ? or justify how you can do well in Corporate Finance role despite your non finance background?
I am currently enrolled in a full time MBA program and planning to take finance courses but I want to know how I can really sell myself on this idea ?

Chelsea B asked:


We are filing a Chapter 7 bankruptcy, and it is due to be discharged by May. How long after that can we finance a car for a decent rate?

siubak asked:


I have a MBA degree and concentration in finance, looking for an entry level financial analyst position in the corporate finance area. What are the important skills normally required? I have a feeling that what I’ve learned from school does not match what are wanted in real world. So what skills are really expected from an entry-level financial analyst?

timmyliao2001 asked:


Here is the deal. I kind of got taken from a shady Persian gentlemen who did the financing for me at my local Honda dealership. So he got me for a higher interest rate, lied to me so I would purchase stuff like extended warranty and gap insurance. My question is this: Based on my original loan the total loan amount of my interest would have been like $12,000 spread out over six years. But I went ahead and paid a large portion of that down and refinanced with a third party - therefore reducing the total interest to something like
$3500 over four years. So here is my question. Does this dishonest finance guy at the dealership get a cut of the original $12,000 and get his money up front? Or will he only get a cut of the total amount of interest I paid on the original loan which was about $1300? I want to know if by refinancing through some other lender if I took money away from him that he was expecting would come to him based on the terms of the original loan?

DoctorB asked:


I am determined to travel throughout Latina America but need to find ways to work while traveling to finance the trip.

Free Indeed asked:


I’m planning to “flip” a house in the midwest, but I’m not sure how to go about financing. I plan to purchase the house for $130k, spend $20k in repairs, and sell for $160k. I would need to finance the purchase and repairs.

1) I don’t know what type of loan to go with

2) I don’t know if it’s better to go to a bank, like National City, a financing company, like CitiFinancial, or a different type of company…

Christine asked:


I took a career interest test and I was a 100 percent match for finance/accounting and criminal justice. All other careers were 75% or less. This seems to be right for me. Now my question is which careers in these fields would be a great choice, as far as pay, job demand, and schooling? I am 28 years old and have 2 children if this helps and i am enrolled in a community college. Thank you for your help.

JoeB asked:


I’m looking to do some major rennovations on my house and figuring out the best way to finance it has been racking my brain. I just can’t figure out the pros & cons between refinancing, 2nd mortgages, home equity line of credits, etc.

A little background on the house, It is located in North NJ in a very high demand area. I bought the house over 6 years ago for $215k, it’s currently valued around $380k. Our current Mortgage is around $175k. I estimate my renovation to cost around $200k-$250k. We plan to be in this house for a long time. We’re looking to add a 2 car garage, extending the living room, redoing the kitchen and adding a master bedroom.

any advice on what direction I should head in and pifalls to look out for would be greatly appreciated.

student101 asked:


Because I’m getting multiple answers on this. Some say that it’s only the finance classes you take but the others say that it’s the finance classes plus the supporting courses ( Economics, Accounting and such). Which one is right?

Thanks