Bills.com Shares Top Five Consumer Money Questions of 2010

December 18, 2010 (PRLEAP.COM) Business News
Consumer money resource Bills.com today shared 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 rear view 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 services.
4. What do I need to know to refinance my home?
5. What are the penalties for an early withdrawal from a 401(k)?

"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 Mr. Ewing. "The issue of refinancing a home remains a very relevant topic throughout both lists given money needs and favorable refinancing factors."

Ask Bill is a free service that provides free, personalized money advice in response to consumers' personal finance questions. Previous answers are available on the site as a resource for future visitors. The company shared the top five most frequently asked questions of 2010 out of the more than 3,390 new queries that were asked this year.

Consumers interested in learning more about refinancing or other related money topics can visit http://www.bills.com or ask a question of Ask Bill. For more popular money questions from 2010, please contact Bills.com.