Borrowing

You may receive calls from debt collectors trying to recover past-due debts whether you have debts or not. The calls may be from legitimate debt collectors or they may be from debt scammers attempting to extract payment for debts that don’t exist. How can you distinguish between the two? You shouldn’t simply assume that if
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Money or sex: which topic causes the most trouble within a relationship? A recently released Money Habits and Confessions Survey, conducted by Wakefield Research on behalf of LearnVest, suggests that the answer is… money. Finances were a greater source of relationship tension than sex, according to 68% of survey respondents. Incompatibility with finances can even
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You’ve decided to pass your home on to your children, but you haven’t settled on the best method to transfer ownership. You are also questioning whether you want to stay in the home or downsize to a smaller place. What factors should you be considering as you make your decision? Start by reviewing the typical
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According to the 2016 U.S. Consumer Payment Study conducted by the credit card service company TSYS, credit cards have displaced debit cards as America’s most preferred payment method. Why is credit the new king? The sheer number of credit cards plays a role, with 61% of Americans saying they have two or more credit cards
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Have you been frustrated over the last few years with an inability to get credit? A recent survey by the Federal Reserve of New York suggests that while credit may be loosening, your frustration may continue. Three times a year since October 2013, the New York Fed’s SCE Credit Access Survey assesses the state of
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How do you know that your bank is the best one for you? You can consult all the advertising flyers and conventional information available at bank branches — or you can do some homework on the fundamentals of your bank with help from the online Bank Data Guide from the Federal Deposit Insurance Corporation (FDIC).
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Credit card usage is dropping among the millennial generation. A surprising 67% of Americans between 18 and 29 years of age have no credit cards at all, according to a recent survey. That compares to only 45% of Americans between the ages of 30 and 49, and 38% of those aged 50-64 without credit cards.
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Credit is a great convenience, but it’s a convenience that you will pay for — especially if you go over your credit limit. Traditional over-limit fees were radically changed by the Credit CARD Act of 2009, which switched credit card over-limit fees to an opt-in basis — meaning that consumers have to specifically consent to
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Student loan debt has made it difficult for many young Americans to enter the housing market. A recent survey from the National Association of Realtors found that 71% of student loan borrowers cited their student loan burden as a reason to delay buying a home. The student loan plight may be a major factor in
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Treasury Report Targets Dodd-Frank In February of 2017, President Trump issued Executive Order 13772, which gave the Secretary of the Treasury 120 days to create a report reviewing financial laws and regulations with respect to seven “Core Principles”. Those principles are generally related to streamlining the financial markets and, in the President’s opinion, reducing constraints
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For most homeowners, mortgage costs are the largest regular expense in the family budget. How can you manage those costs in the most efficient way? We offer a few suggestions for reducing either short- or long-term mortgage expenses to fit your needs. 1. Refinancing – According to Casey Fleming, Mortgage Advisor at C2 Financial and
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If your credit score is in the low- to mid-600s, you have what is usually considered to be fair credit — not in the range where you have trouble getting personal loans at all, but in the range where finding a good interest rate and reasonable terms can be challenging. Whether you are experiencing a
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You may need a personal loan for a number of reasons — perhaps to deal with unexpected medical expenses, to consolidate high-interest credit card debt, or even to take that well-deserved vacation. Unfortunately, if you have borderline or bad credit, personal loans may be difficult to get at your local bank or credit union. You
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It’s bad enough when your day is derailed by an unexpected trip to the doctor, but it’s even worse when you can’t afford to pay the bill. Unfortunately, too many Americans find themselves in this position, according to a recent survey conducted by Ipsos for the healthcare transparency group Amino. The survey found that 37%
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America’s student loan debt burden has reached a staggering $1.44 trillion, making it the second largest source of household debt in America – behind mortgages. According to a recent study, this growing loan burden is not equally shared between the sexes. The report from the American Association of University Women (AAUW), titled “Deeper in Debt:
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Many sources are available to define and outline the fees that are associated with mortgage loans, but what about personal loans? Generally, personal loans are unsecured loans that are not tied to any form of collateral that can be taken over by the lender in case of default, such as a house with a mortgage
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A recent action by a Court of Federal Claims has effectively stopped the collection of defaulted student loans – but for those affected, this is cause for concern, not celebration. To understand why, it’s important to look at the fate of defaulted loans and how those attempting to recover from the situation are being harmed
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Even though retiring is the furthest thing from the minds of most twenty-somethings, you need to invest sooner, rather than later for one reason – you have an advantage over everyone else: time. Time to let your money grow exponentially. There is a reason Albert Einstein is credited with calling compound interest “the 8th wonder
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America Breaks the Debt Record According to the New York Fed’s recent Quarterly Report on Household Debt and Credit, America has more debt than ever before. Do you? Should you be concerned in either case? The report shows that American household debt reached $12.73 trillion in the first quarter of 2017. That tops the previous
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  Does Anybody See a Pattern? The financial crisis of 2007-2008 was caused in no small part by a housing market full of questionable mortgages. Loan qualifications were stretched beyond reason to accommodate eager homebuyers trying to deal with rapidly increasing prices. The resulting “subprime” loans were packaged inside vast mortgage pools (such as government-backed
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If you are a first-time homebuyer, you may be aware of mortgage insurance but you may not know that there are two different types. Mortgage Insurance Premiums (MIP) and Private Mortgage Insurance (PMI) both have the same general purpose: to offset the default risk to lenders when borrowers have purchased homes with low down payments
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