TODAY   |  July 11, 2012

Can online surveys make you extra cash?

Financial experts Jean Chatzky, David Bach and Sharon Epperson answer viewer questions about money and offer advice on whether you can trust online surveys that offer to pay for your participation.

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This content comes from Closed Captioning that was broadcast along with this program.

>> back with money 911 where we answer financial questions. our panel of experts, jean chatzky, david bach , death free for life." good morning, everybody. let's get started and go to skype and say hi to tiffany from nevada. what's your question? tiffany?

>> would you recommend -- [ inaudible ]

>> we're having a little technical difficulty.

>> i think, tiffany, what you're asking is whether you should consolidate your credit card debt on a debt consolidation loan, an unsecured personal line. the question is having that short sale in your background whether or not you or your husband will actually qualify for that. if you do qualify, it's a great thing to do because you will lower all of your interest rates whether you do it under your name or his name. just be really careful that you don't go and charge those credit cards right back up again. because about 40% of people do. i want them in the freezer or with your mother or someplace you cannot touch them.

>> cut them up.

>> cut them up. don't close them but cut them up.

>> tiffany, thank you so much. going to phones, melissa from stewartsville, new jersey on the line. hi, melissa.

>> caller: good morning.

>> what's your question?

>> caller: my husband and i would like to take advantage of the low interest mortgage rates currently being offered. our credit scores are great and our home is worth more than we owe. we are having a difficult time finding a bank to refinance with because there's presently a lawsuit against our condo association. can you tell us what our options are?

>> you're bonged. that's a technical term . it's not that your bank is being mean. the situation is this, due to fannie mae guidelines, your loan is eligible for a refinance. first you need to do the following. what the details of the lawsuit, who is the point person, have they hired an attorney. once you know the facts, go to a mortgage broker , go to the mortgage broker and say here is the situation with a lawsuit, shop this to a community bank, private lender. you'll have a difficult time refinancing until the lawsuit is settled. get on the board and figure out how to settle that lawsuit. that will help you, then you can refinance. good job on the high credit and the fact your property is up in value.

>> two out of three. good luck.

>>> now let's go back to skype, give that another shot. laura from new jersey. good morning, laura.

>> good morning.

>> what's your question?

>> my 15-year-old daughter would like to earn some extra cash by filling out online surveys . how do i find out which websites are safe and reputable.

>> all right, sharon.

>> of course, this is a time a lot of kids haven't been able to find summer jobs and are looking for them. i would be wary about online survey firms. there are some out there to offer cash and awards. you're not going to make a lot of money. i'd be careful. i'd go back to the tried and true go around the neighborhood and see what jobs are available, baby-sitting, pet sitting , doing chores for neighbors. a lot will end july and august. maybe your daughter can create a camp in your backyard and do that. if you're looking at a traditional company, there are going to be age requirements to look into, fast-food or retailer, between 14 and 18 is the minimum age . you really want to be careful and verify that before applying. again, snag a job.com is a great website to go to for hourly jobs to find information. the best place to start is right