Let's face it, interest rates have no where to go but up. When that happens, will be you be ready?

Personal finance expert Jean Chatzky, who's book Money 911 was recently published, says that now is the time to focus on maintaining -- and improving -- your financial position.

For a long time, it didn't seem we would have to worry. Ben Bernanke promised that mortgage rates would remain low and as would corporate bond rates. All this would happen thanks to QE2, or quantitative easing, which would help to keep rates down, make housing more affordable and foster economic growth.

But rates are already moving up.

It's Tough, But Refinance Now

So Chatzky recommends that you take action, right away. First, she says, look at your home, probably your biggest asset. If your rate is above 5%, or if it's an adjustable rate, it's time to refinance. Of course, doing so isn't as easy as it once was. "I just refinanced my mortgage," says Chatzky. "I've done it several times before and I had never been through anything like this and I had all the documentation in the world." But in the end, refinancing is worth it if you get a great rate.

Also, explains Chatzky, if you have brought your credit score way up, that can help you to take your mortgage rate way down.

In the video above, Chatzky gives more important advice. Among her tips: how to refinance your auto loan and the best places to stash away your cash (and it's not in money market funds or traditional CDs.)

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The entire Federal Banking System under FirstGov has been "Consumed" and "Levied" by way of a Maryland State Circuit/District Court Ruled “Appropriation and Garnishment” of all Future Earnings prior to and after 2004 against Bank Of America by way of the F.D.I.C. Regulations Prohibiting failing Banks from Merging with other failing Banks between the Dates of 08/04/08 and 10/09/09.

Bank of America violated the 21st Century Act: Final Amendments to Regulation CC Section: http://www.federalreserve.gov/boarddocs/press/bcreg/2004/20040726/attachment.pdf

seeking reimbursement of Credit, Loan, and Finance Balances as a "Bank Entity" and not a "Nonbank Consumer" as specified on Pages 85 and 86.

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Businesses owned by the States (Public Corporations) are being sold Stock Shares by Corporations also under the Federal Banking System in this Worldwide "Ponzi Scheme". The World Fortune Company Merrick Inc. Sweden is dissolving Millions and Billions of Dollars from "All Levels of Government"in the U.S. of Financing based upon Years of "negligent inaction" involving this case.

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May 29 2011 at 1:20 AM Report abuse rate up rate down Reply

yes interest rates might go up a bit ,,,but this argument has beem made for higher rates for about 2 years ,,,,,and my bond funds are up ,,since this talk atarted there up over 25 percent ,,Not only that I get about 4 percent on my money ,,,Lilike everythong else bonds cna go up and down ,,but if I listen to these MORONS ,,I would have sold a long time ago ,,,Now they tell you to sell your bonds and bond funds ,,and do what ,,get into stocks ,,,,The should have told you that when the market was 5500 NOT 12,000 ,,way too late now ,,and not worth the risk ,,,,,The main purpose of these crooks is to churn the crap out of you That what the talking heads are paid fir ,,Thats how they make their money ,,,,stay put ,,,keep you money in your bonds and bond funds ,,everything goes up and down ,,but it a lot safer then that casino stock market ,,,,,,

February 22 2011 at 7:03 PM Report abuse rate up rate down Reply

Was there anything more useless than this re-hashing of the Same Ole Stuff??
What drivel...

February 16 2011 at 5:25 PM Report abuse +4 rate up rate down Reply

It's kind of funny, if not pathetically sad, that the right-wingers who want less government regulation are the ones doing all of the complaining about our current bad economy that was created by lack of government regulation in the first place. Just think of what things would be like if the right-wing politicians get control once again. I'm not saying that the govenment has ever done such a great job of protecting the people, but who would you suggest to protect us from the Wall Street and banker crooks that just about ruined our economy? The Wall Street investors should get a real job and try working for a living. The bankers who bundled and sold bad mortgages and ignored what Bernie Madoff was doing with the billions of dollars that he stole should be put in jail with him. Will your right-wing style government protect the middle class and poor from the likes of these? Face it, the Republicans are for the rich and that is all they are for. The rest of us have to struggle to pay our bills and the ever increasing cost of living with the .5% interest on our meager CD's, if we are lucky enough to have one.

February 16 2011 at 5:16 PM Report abuse rate up rate down Reply
Darrell & Donna

Greenspan and Bernanke will keep interest at zero for the poor people but will take car of wall street and themselves and richs friends;;poor stay poor;;it the facts of life''

February 16 2011 at 4:57 PM Report abuse +1 rate up rate down Reply

Interest rates are going up? Great! Maybe now the banks will give me more than .05% on my Savings! Strange that they are allowed to charge 23% and up when you owe them money, but pay spit when it's the other way around.

February 16 2011 at 3:49 PM Report abuse +4 rate up rate down Reply
1 reply to pepelaputr's comment


February 16 2011 at 9:38 PM Report abuse rate up rate down Reply

its time for the second round of the government positioning banks to stick it up our kazoos, than they can cry poor mouth and the tax payers will once again bail them out smf

February 16 2011 at 2:27 PM Report abuse +1 rate up rate down Reply

remember. money makes the world go around includes greed,stealing,lies and deception. it is the ill of the bluewhitemarble and mankind. the moneychangers have been driven from the temple steps once before and will be driven from the steps again and again. the ones that dwell in material rewards will be nomore.thank you

February 16 2011 at 1:02 PM Report abuse rate up rate down Reply


February 16 2011 at 11:12 AM Report abuse +1 rate up rate down Reply
1 reply to bhawkes328's comment

bo is that u back there

February 16 2011 at 2:30 PM Report abuse rate up rate down Reply

Socialism works great until you run out of other peoples' money.

February 16 2011 at 11:06 AM Report abuse +6 rate up rate down Reply