Marlena Jareaux

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Money Advice

PROFILE

Profile Photo

Expertise

Kids & Family, Credit Cards, Saving, Budgeting, Debt Management, Budgeting & Saving, Family Money & Life Events, Credit Scores

Location

Columbia , Maryland

Education

Hampton University, B.A. Sojourner Douglass College

Bio

I am a licensed real estate agent and owner of 11 investment properties in Maryland. I realized the importance of having good financial skills after making horrible financial mistakes both going into and coming out of college, mostly as a result of not being taught financial education in school or at home. I went from having horrible credit, high finance charges and being a perpetual renter, to becoming a homeowner and a real estate investor with decent credit- all because I learned to save, the importance of credit and budgeting, and the power of discipline. I was determined to do something about the fact that neither my 13 year old son nor his friends are being taught financial literacy skills in their school. Based on my own experience, this was a potential setup for disaster for the next generation. I often times say, "There are some things that you can learn as you go through life, but basic financial knowledge should not be one of them." I give advice to people on how I cleaned up my credit, and on some of the many ways in which I have purchased properties. As a real estate agent, I continue to be amazed at the number of adults who have the best of intentions and want to buy a house...have been saving... but have no clue as to the effects that their spending decisions have had on their credit (and therefore, their ability to buy a house for anything other than 100% all-cash). I strongly advocate that people should buy with their head, with (at most) only a small part of their heart. I firmly believe that ethics and sustainable wealth are tied together, and that if you "do right" in the world and to others, your share of the wealth that is meant for you will "do right" by YOU! I'll be the first to say that I don't have any letters behind my name. So if you're looking for advice from someone who has learned in class how to do it, then I'm not your person. However, I have "been there and done that"... and if I can do it, SO CAN YOU! I'm more than willing to help you or guide you in any way that I can... besides, have you ever asked someone with those letters behind their name about THEIR financial fitness?

MY ADVICE

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DISCUSSIONS
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ANSWERS
13

TIPS, BOOKS & LINKS
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Pay the mortgage or walk away

By Swong | December 18 2009 | Housing, Mortgages, Buying a home | 1224 Views | 6 Comments | 0

I recently came across this WSJ article: http://online.wsj.com/article/SB126100260600594531.html In short, people who are underwater, but who can still afford to pay their home mortgages, are walking away ("strategic...

Boomerang Kids

By cdean | June 04 2010 | Kids & family | 746 Views | 3 Comments | 0

It's becoming a rising trend in the United States.  Boomerang Kids. Children who return to live with their parents after leaving home.  With the economy the way it is, the empty nest is getting a lot more...

In the News: 10% of Under 35 Crowd Back with Parents

By jswesey | February 23 2010 | Debt management, Student loans | 1042 Views | 3 Comments | 0

I read the most interesting (and depressing) article in The Atlantic the other day. The article, " How a New Jobless Era Will Transform America " contained a whole slew of interesting statistics. But this one stood out:...

Refi options?

By gwong81 | March 01 2010 | Mortgages | 703 Views | 3 Comments | 0

What should people do if they can't refinance and their mortgage ARM is about to adjust? Is there anything else they can try?

Banning employment credit checks?

By Marlena Jareaux | March 15 2010 | Credit scores | 554 Views | 1 Comment | 0

In today's Baltimore Sun newspaper, there appears an article about a proposed ban regarding the use of credit reports by employers. As many folks know, it is not unusual for a potential employer to ask your permission to...

Evaluating a mortgage refinance

By Riaz | March 01 2010 | Loans, Mortgages | 829 Views | 3 Comments | 0

What is the best way to evaluate refinancing a mortgage when you are 8 years into a 15-year mortgage and rates have come down one point?

Keeping up with the Joneses

By Keith Morris | February 08 2010 | Budgeting | 1653 Views | 6 Comments | 0

Suburban Dollar has an interesting piece up highlighting a recent USA Today article describing a report that some people are receiving that details the energy consumption of their neighbors.  It turns out that...

Want your 1st house? Have your credit & money right.

By Marlena Jareaux | January 22 2010 | Credit scores, Housing, Mortgages, Buying a home | 1336 Views | 3 Comments | 1

I wanted to make everyone aware of FHA loan changes just announced that are coming this spring. You can read the article for yourself here:...

Is refinancing.....Good or Bad?

By bennytsmithjr | January 14 2010 | Debt management, Buying a car, Bankruptcy | 1379 Views | 6 Comments | 4

I have been looking for a way to attack my biggest debt, my auto loan. I was wondering when and if refinancing is a good idea or if it’s not even worth the thought.   If anyone can explain to me what exactly is good...

Best way to make a will?

By jswesey | July 14 2009 | Kids & family | 848 Views | 3 Comments | 0

I'm catching up on a few financial tasks and creating a will is one of them. It's true that I'm still young, but I am married and have a child on the way so now seems like a good time. I'm familiar with Nolo press and know...

 
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