Ughhh . . .
The markets continue to resemble a guy who swallowed too many red hot chili peppers, only with no Tums or ice water in sight.
The problem this week is last Friday's jobs report. Down 63,000 jobs and with the outlook unsteady for new hirings, economists buzzed about a new high in foreclosures and other home mortgage problems. The thinking here is that jobs are the last bulwark against the loss of homes through foreclosure. If you can't meet your rising mortgage payments, due to an ARM or other non-fixed loan, and then you lose your job, then your next move is to mail the keys to your house to the mortgage company and get out of Dodge.
"Walkaways" is the term mortgage industry lenders use. And their could be plenty more of them if the jobs numbers continue to slide.
It's a lousy start to the week, so let's try to brighten up the room a bit in anticipation of those tax rebate checks Washington has promised us. If you need money fast, the payments may help a bit, at least in the short-term. But you need to have your taxes filed first or you won't get your check.
So take these steps to file your taxes online and pave the way for that check from Uncle Sam, which I picked up off of Checkpoint Software's web site (they make tax software packages).
1. Before you start, make sure your computer is in a safe state. Update your security software and run system scans to be sure your machine is free of viruses and spyware, which could put your private information at risk. Also make sure to update your Windows or Mac operating system and install the latest security patches.
2. If you are using a wireless Internet connection at home, make sure your wireless router's security features are enabled to keep prying eyes from snooping at your return. Do not file your taxes at public wireless hotspot. These networks are not always secure and who knows how many prying eyes are peering over their lattes at Starbucks.
3. Protect your passwords. Do not tape them to your monitor or write them down nearby. When selecting passwords for your online tax filing accounts, use a combination of numbers, letters and special characters. Don't use common passwords that a thief could easily guess or figure out (like a pet's name or your place of birth).
4. Back-up your tax return to a CD or portable media device and then delete it and all associated files from your hard drive. This ensures that if your desktop or laptop is compromised in the future, your tax information, including your Social Security number and other sensitive information will not be revealed.
5. Beware of online phishing scams. During tax seasons scammers often send out fraudulent spam emails that appear to be from the IRS or from tax filing services. Never click on links or attachment in emails and if in doubt, visit www.irs.gov or call them directly at 1-800-829-1040.
Look, it isn't much, and a $1,500 tax rebate check won't help much if you lost your job. But it's better to get the check than not. So get your online tax system revved up and make sure you get your check.