Top Five Consumer Money Questions of 2010

Consumer money resource Bills.com recently put together the top five questions asked of its "Ask Bill" free question and answer service in 2010. Compiled by the team of personal finance experts who work directly with customer questions, this year's list shows more of a balance between those still impacted by the recession and those who are recovering.
"It makes sense that a majority of the questions this year dealt with what is often people's biggest financial asset—their homes," said Ethan Ewing, president of Bills.com. "There is a clear distinction between those who are trying to find ways to save their homes versus those exploring ways to leverage it. This list is representative of the larger economic division between those still feeling the lingering effects of the recession and those attempting to put it in their rearview mirror."
Top Five Money Questions of 2010
1. Can my second mortgage lender foreclose if I stay current on my first mortgage but default on my second?
2. Is now a good time to refinance my mortgage? How do I find the best rates?
3. How do I begin the process of modifying my mortgage?
4. What is the best way for me to handle credit card debt I cannot afford?
5. I want to buy a house. Is it better to have a big down payment or no debt?

The 2010 list of top money questions reflects signs of positive momentum in the overall economy. There are clearly a number of first-time home buyers in the market for a new home, and many existing homeowners are exploring a refinance. The number of these questions is rising while the number of debt or credit card debt related questions from 2009 is decreasing. The overall trend is towards a more balanced and positive list of money related queries for 2010 when compared to 2009.

Top Five Money Questions of 2009
1. What are my debt consolidation options?
2. I can't afford my car payments. What is voluntary repossession?
3. Looking for more information about mortgage lenders and servicers.
4. What do I need to know to refinance my home?
5. What are the penalties for an early withdrawal from a 401k?

"It's clear in comparing last year's question to this year's that there are less issues of distress and more proactive money management topics," continued Ewing. "The issue of refinancing a home remains a very relevant topic throughout both lists given money needs and favorable refinancing factors."

For more information, visit www.bills.com.