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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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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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Welcome to parenthood! You are a proud new father, simultaneously overjoyed and terrified. Since you are now responsible for another human being, you should know that the estimate of what it will cost to raise your child is approximately a quarter of a million dollars, without accounting for inflation. If you would like to send
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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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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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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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Wealthy people achieve their wealth in many different ways, but typically, those who maintain it stay wealthy for a reason: they do not spend any more than they have to on any item. That principle applies just as much to buying a smartphone or vacuum cleaner as it does to buying a multi-million dollar conglomerate.
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Years of low interest rates have provided underwhelming options for investors seeking Certificates of Deposit (CDs) as a relatively safe component of their portfolio. Yields above 1% are hard to find and often require tying up your money for a lengthy period. Even with a laddering strategy, the poor yields may not be worth the
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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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Congratulations! You have saved for your child’s education using a state 529 plan and built up a decent nest egg to send him or her off to college with minimal financial worries. Once a choice of college is made, you can apply the 529 funds toward the educational costs — but beware of these mistakes
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Leasing a car can be an attractive option if you drive reasonably low miles and enjoy upgrading your ride frequently. You can look forward to a new car every few years without dealing with large down payments and losing money on rapid depreciation. However, leasing can be more expensive than buying a car, and prohibitively
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One of the biggest things I learned in the military long ago was that proper prior planning prevents pitifully poor performance. I am astonished at the number of otherwise seemingly intelligent adults who do not have some amount of insurance, even if only enough to prevent placing the financial burden of paying for their
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April is National Financial Literacy Month. Why do we dedicate this calendar page to highlighting financial skills and education? The tax deadline? Sound financial decisions are important all year long, but most Americans never learned how to manage money or save for goals, so financial security is a bigger challenge than it needs to be.
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If you are having trouble making your auto loan payments, recent data from the New York Federal Reserve suggests that you are not alone. According to the New York Fed, delinquent auto loans have reached levels not seen in over eight years. Auto loan delinquencies of greater than thirty days or more reached $23.27 billion,
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One of the biggest mistakes many investors make is not considering the effects of taxes on their returns. Local, state and federal taxes can take a big bite out of your investment earnings. This makes it critical to formulate strategies for minimizing the impact of taxes on your investments. Here are six strategies that can
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Which Is True? The Consumer Financial Protection Bureau (CFPB) is an independent consumer and financial watchdog agency that offers advice to consumers and levies fines against financial institutions engaged in questionable practices. The CFPB is an unchecked, poorly controlled agency that restricts the opportunity of financial institutions to operate within a free market and applies
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By Tonya Rapley Debt is killing us! It’s one of the main reasons I started a community movement to #BanishTheBalance. Over 60 incredible days, more than 4,000 participants paid off more than $200,000 worth of debt. The success of the movement led to a free e-course (you can sign up here) and is open to
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Any proper discussion of methods for reducing debt load should begin with the following disclaimer: Dealing with excessive debt is, in several ways, analogous to losing weight. You did not acquire all that weight/debt quickly, and it may take you even longer to lose it — and without changes in eating/spending habits, the weight/debt will
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For Valentine’s Day, we hope you bought a thoughtful gift for your significant other. It’s the thought that counts, of course, but let us give you a tip or two: women like jewelry. And, when it comes to fine jewelry, you should give thought to insurance. Fortunately, your family’s everyday jewelry is probably covered by
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Property Assessed Clean Energy (PACE) loans are in the midst of controversy. Are they an effective way to incorporate more green energy into homes, or are they planting the seeds of the next housing crisis? Both statements may apply. PACE loans are designed to finance home projects involving renewable energy and energy efficiency. While the
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