Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Mortgage rates have been hovering in the high 6 percent range for a 30-year fixed loan, but some states see tougher odds of homebuyers getting approved. In a new National Association of Realtors (NAR) report, some states … Read more
The FICO score is one of the most important numbers in your financial life. This three-digit credit score can determine whether you qualify for credit cards, loans, mortgages, utilities, and more. But what exactly is the FICO score, how is it calculated, and why does it matter so much? Keep reading to learn everything you … Read more
Debt-to-income (DTI) ratio compares your recurring monthly debt payments against your monthly gross income, expressed as a percentage. Hey there, fam! If you’re wondering, “Is a 30% DTI good?” let me hit ya with the quick answer right off the bat Hell yeah, it’s darn good! A 30% Debt-to-Income (DTI) ratio means you’re in a … Read more
A personal bank loan is a type of loan offered by banks that provides borrowers with a lump sum of money to be repaid over a set period of time. Personal bank loans can be used for a variety of purposes and provide an alternative to other types of financing such as credit cards or … Read more
Paying off collections could increase scores from the latest credit scoring models, but if your lender uses an older version, your score might not change. Regardless of whether it will raise your score quickly, paying off collection accounts is usually a good idea. Its possible that paying off a collection account will increase your credit … Read more
With identity theft being a serious concern in today’s climate, it’s not surprising that many people are cautious when asked to hand over personal information. That is especially true as we enter a time when working remotely is becoming more common. Employers you’ve never seen ask you to email private information but remember that knowledge … Read more
Buying a home is one of the biggest purchases you can make. One of the first steps in the process is to get preapproved for a home loan. Mortgage preapproval may seem straightforward, but there are some considerations to be aware of. Most importantly, loan preapproval is not a guarantee. Preapproval means that you’ve met … Read more
Purchasing your first home is an exciting milestone, but the process can be daunting if you don’t know what to expect. While buying a house is a joyful event, it’s also a huge financial decision that requires care and consideration. Making the wrong moves could cost you big time by resulting in a higher interest … Read more
Buying a house is an exciting milestone but saving up enough money for a down payment can be challenging. If your bank account balance is low you may wonder if it’s possible to purchase a home without paying anything out of pocket. The good news is that with the right loan program and preparation, you … Read more
In the past, certain actions like making a payment or acknowledging that you owe the debt could restart the clock on the limitations period. This created a problem where the statute of limitations could be constantly restarted. The issue is often referred to as “zombie debt.” In 2019, changes in the law aimed to protect … Read more