time for the help desk where we get answers to your financial questions. joining me this hour, gary schatsky, a financial planner and president of objecti objectiveadvice.com. gail cunningham with the national credit foundation. gary, alexandra wrote in i m trying to refinance an investment home that other members of my family live in. the property s financer tells me that my debt ratio is too high and that they have no option for me because the home is not my primary residence. how can i get that monthly payment down? she s trying to refinance work out a deal here. it is really a difficult situation. because if the banking institutions aren t going to fund you because of your credit situation, it becomes problematic across the board. an investment property is particularly problematic because standards are much higher. you can try to think about some out of the box scenarios. one might be i don t know what the family situation is.
similar bombings two weeks ago on al qaeda. the opposition accuses the government of staging the blasts to back up a claim that it s fighting terrorists. iran planning more war games. state-run media report another round of military drills are going to take place next month in the straight of hormuz. the most recent exercises ended just this week. tensions now have been rising over this strategic critical waterway. iran threatened recently to block the strait if new sanctions harm iranian oil exports. the government also threatens to take action if u.s. air craft carrier goes through the strait. italy s mount etna roaring back to life. ireporter joseph posten caught all of it on video. he said it started rumbling yesterday morning. once he saw the huge ash cloud he pulled out the camera and his eruption reportedly poses no danger to villagers. so far no flights have been canceled because of that big ash cloud. well, new orleans. city leaders there say teenagers not welc
jamie: i know you have two kids in college. so you know about facing tuition. but you are also a certified financial planner. you have tons of experience in this area. first of all, is there any free money out there? any scholarships now? where does that stand for parents and kids? you know, there is free money out there. you have to look for it in the right direction. first of all, if your children are going to, or if your kids will go to a junior college, a lot of junior colleges offer foundation. my daughter got a $3,000 annual renewable scholarship for the next four years that goes to her school as well. it s $3,000 for free. so it s a credit foundation. at the college. a lot of people who maybe pass on want their loved one s name in a foundation offer free money. jamie: so look at colleges. ask about it. i m sure online as well. but once you you go online, you could be susceptible to deals that sound too good to