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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: calgal who wrote (23541)	10/20/2007 5:56:07 PM
From: calgal	Respond to of 71588

Bruce Williams JWR's Pundits World Editorial Cartoon Showcase Mallard Fillmore Michael Barone Mona Charen Linda Chavez Ann Coulter Greg Crosby Larry Elder Don Feder Suzanne Fields Paul Greenberg Bob Greene Betsy Hart Nat Hentoff David Horowitz Marianne Jennings Michael Kelly Mort Kondracke Ch. Krauthammer Lawrence Kudlow Dr. Laura John Leo David Limbaugh Michelle Malkin Jackie Mason Chris Matthews Michael Medved MUGGER Kathleen Parker Wes Pruden Sam Schulman Roger Simon Tony Snow Thomas Sowell Cal Thomas Jonathan S. Tobin Ben Wattenberg George Will Bruce Williams Walter Williams Mort Zuckerman Consumer Reports Upside down? Mind the gap; picking right bank; more newsandopinion.com \| DEAR BRUCE: I am told I can protect myself from being "upside down" by purchasing gap insurance. What is it, and is it a good idea? — H.T., via e-mail DEAR H.T.: Gap insurance is an acknowledgment by the automobile industry that it has been overselling for years, which can lead to the buyer being "upside down" - i.e., owing more than the car is worth. For example, someone buys a car and totals it after six months. The other guy's insurance will pay what the car is worth, not what is owed on it. That's all the other guy's insurance company is obligated to pay. The difference can be substantial. If you owe $10,000 on your car and it's only worth $6,000, what are you going to do? You will have to come up with $4,000. Gap insurance pays the difference. The insurance can run from $400 to $700, and it can be an extremely profitable enterprise for the dealer. If it's absolutely essential — and I mean absolutely essential — gap insurance may be worthwhile. The reality is that if you require gap insurance, you are buying something you can't afford. DEAR BRUCE: We are moving into our first home, and money is tight. We are on a month-to-month basis since our lease expired six months ago. We have always been prompt with our rent payment on the first of each month and have had no difficulty with the landlord. We finally found a home we could afford, and we are scheduled to close very soon. On the 15th of last month, we gave our landlord 30-days notice. He now says this is not good enough. With our payments due on the first, we needed to give him notice before the first of the month. Since we gave notice on the 15th, we now have to go to the end of the next month. That means 15 days of empty-apartment space that we will be paying for, which we can't afford. Is he right? — Reader in Michigan DEAR READER: He sure is. If you're month-to-month tenancy was an extension of the old lease and the lease ran from the first to the 30th, then your month-to-month does as well. You must give him notice prior to the first of the last month. In this case, that would be the month that begins 15 days after you actually gave notice. Unfortunately, that's the way it is. Conversely, if he wanted your apartment earlier than you wanted to give it up, the same notification principles would apply. DEAR BRUCE: When searching for the highest rate on a CD, does it matter if a bank is small, local or out of town? Since they are insured, shouldn't my money be safe? — F.Y. in Florida DEAR F.Y.: As long as the Federal Deposit Insurance Corp. (FDIC) insures the CD, there shouldn't be a problem. I would be leery of investing with privately insured institutions. Whether the institution is small or large, local or out of state is without relevance. The only thing that is absolutely important: Stay within the limits established per depositor, which is ordinarily $100,000. While there may be other perfectly acceptable insurance agencies, I would be only comfortable with insurance that has the full faith and credit of the federal government. jewishworldreview.com