Rachael Ray Cooks Up Recession-Proof Recipes on Tonight's 'Larry King Live'

This just in...

Tonight, on CNN's "Larry King Live," celebrity chef Rachael Ray -- TV talk-show host, entrepreneur, and best-selling author of the "30-Minute Meals" series of cookbooks, "Rachael Ray 365: No Repeats -- A Year of Deliciously Different Dinners," "Rachael Ray's Big Orange Book," etc. -- cooks up some recession-proof recipes! Use her money-saving tips for these, uh, challenging economic times.

Plus... You have questions, Larry King's guests have answers! Larry’s financial wizards will be on hand to take YOUR calls about job security, the housing market, keeping your investments safe, plus more!

Tune in to "Larry King Live" tonight -- 9 p.m. ET/6 p.m. PT!
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Fed's Surprise Rate Cuts Might Signal Good Time to Buy Home, Refinance Mortgage

The Federal Reserve's surprise decision this morning to cut interest rates by 75 basis points may signal bleak times ahead for the U.S. economy. But that doesn't mean everybody will suffer. If you're looking to buy a home, refinance your mortgage, or consolidate debt via a home-equity loan, these next few weeks could very well help you prosper.

In a highly unusual move, Federal Reserve Chairman Ben Bernanke [pictured] on Tuesday announced plans to slash the fed funds rate to 3.5 percent, from 4.25 percent, hoping to calm the markets and to stimulate the slowing economy and avert recession. That the Fed did so a week before its scheduled meeting underscores how perilous conditions have become.

So, what's it mean to you?

First, the good news: If you need to borrow money, it might get cheaper. Rates on 30-year, fixed-rate mortgages already have fallen to about 5.4 percent from 6.3 percent six months ago. These rates take their cue from 10-year U.S. Treasury bonds, whose yields have fallen to 3.4 percent from 4 percent at the start of the year. So, maybe the 30-year mortgage will fall even further.

If you are thinking of buying a new home or refinancing a mortgage, consider waiting two or three weeks to see what mortgage rates do. There's not much risk they'll go up significantly, and there's some chance they'll drift down. Some analysts think the Fed may cut rates again at its Jan. 30 meeting.

Homeowners with adjustable-rate mortgages also may benefit from the Fed rate cut, which could lower the indexes used to rest adjustable loans. The one-year Treasury bill, for example, now yields about 3 percent -- down from 3.2 percent a month ago, and 5 percent a year ago.

In other words, if your loan resets every 12 months and used the one-year Treasury for a reset today, the interest rate could drop by two full percentage points, perhaps saving you hundreds of dollars a month.

Still, you might consider using this opportunity to refinance to a 30-year, fixed-rate loan. You could lock in that unusually good, below-6 percent rate and avoid rate hikes that you might face in the future with an adjustable loan.

The general decline in interest rates could influence rates on car loans, credit cards and home-equity loans. Unfortunately, so many factors affect those rates, it's too soon to know for sure. With interest rates in flux, keep an eye out for good deals.

Low interest rates and sinking home prices are creating opportunities for people shopping for a home or looking to refinance -- especially, if they have good credit. However, tightening lending standards are making it increasingly difficult for people to borrow if they have bad credit.

LendingTree can help you compare rates on mortgage loans, refinancing loans and home-equity loans -- with no fewer than four offers in each category. Submit your free request today!

* LendingTree Mortgage Loans: http://tinyurl.com/2v23dw

* LendingTree Refinance Loans: http://tinyurl.com/344n7a

* LendingTree Home Equity Loans: http://tinyurl.com/3bwlpn

SOURCES: Bankrate.com, MSNBC.com [file photo]
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Multimedia Learning Package Helps Boost Your Credit Score to 720 in as Little as Three Months!

Wondering if you're overpaying or being denied a better life because of a low credit score? Wonder no more! In "7 Steps to a 720 Credit Score®: How to Win the Credit Game," you'll learn how to boost your credit score in as little as three months.

Learn the seven, little-known rules of credit -- and turn even poor credit into great credit, and into an opportunity to SAVE hundreds of dollars every single month! Even if you've been denied credit before -- or think your credit is beyond repair -- you can still raise your score to 720, the magic number that qualifies you for the best rates and loans, helping you to save hundreds of dollars every month in interest payments!

For instance, did you know you could save $589 a month on a $300,000 home loan if you have a 720 credit score instead of a lower score? That adds up to $212,040 over 30 years! On the other hand, did you know you could be a high-income earner, paying bills on time, without ever having a collection…and still have a low or average credit score that's costing you hundreds of dollars each month?

It happens all the time. Why? Because we are being judged every day by a set of rules most people never learn. That's why, in "7 Steps to a 720 Credit Score," credit and personal finance expert Philip X. Tirone will teach you the seven steps for playing the credit game so you will establish great credit -- in as little as three months!

For example, you'll learn:
* A dirty little trick that credit-card companies use to lower your credit score to keep their competitors away from you. Learn if you're a victim of this -- including how to fix it.
* Which errors on a credit report are a waste of time to fix and which are a high priority [helping you to raise your score by 5, 10, 15, 20 points at a time].
* How to build credit [if you have none] and rebuild credit if you've gone through a divorce, bankruptcy, or other major delinquency.
* Why you should NOT become a cash-only citizen. At the same time, learn how to keep credit active without putting yourself into debt.
* How paying collections can HURT your credit score.
* How to prepare for a loan by improving your credit score.
* How to maintain a high credit score for the rest of your life!

With a 720 score, lenders will compete for your business -- giving you lower interest rates, insurance premiums, and more -- helping you to save tons of money. Money that you can use toward a new car, vacation home or boat, your children's or grandchildren's college fund, retiring early, or anything else you desire.

Just think: You won't have to change your job or increase your income to gain all of this. All you have to do is change your credit score…in seven simple steps!

Embarrassed by your credit score? Thinking about buying a home or a car? Got collections? Want to save hundreds, even thousands, of dollars every month -- simply by raising your credit score to 720? Order Philip X. Tirone's multimedia "7 Steps to a 720 Credit Score" today!

Who's Philip X. Tirone?
Philip X. Tirone is an expert in residential home financing and a mortgage broker, whose past production proved to be a major powerhouse in his mortgage firm's billions of dollars in loan sales. With a unique background in difficult-to-obtain loans, Philip has spent many years finding loans for borrowers with bad credit, no credit, bankruptcy, and stated income. He has analyzed over 10,000 credit reports and worked with his clients to maximize their credit scores to minimize their interest payments.

An accomplished entrepreneur and philanthropist, Philip is also the creator of the financial tool, Complete Financial Navigator™; is a frequent guest lecturer at the University of California, Los Angeles; and, most recently, was featured in the New York Times bestseller, "Secrets of the Young & Successful," by Jennifer Kushnell.

Click on this link to order Philip's "7 Steps to a 720 Credit Score" now!
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