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George Kamel

How Much Debt Can You Have and Still Get a Mortgage?

Getting a mortgage is an exciting milestone, but debt can complicate the process. As a mortgage lender reviews your application, they want to ensure you can manage the new mortgage payment along with your existing debts. While some debt is normal, too much can make lenders hesitate. Understanding how lenders evaluate debt when underwriting a … Read more

How Long Does A Line Of Credit Last?

A line of credit is a useful financial tool that provides access to funds when needed. But like any loan, a line of credit has a finite lifespan. So how long does a line of credit last? The duration of a line of credit depends on the type, but typically ranges from 3 to 30 … Read more

What’s the Lowest Credit Card Limit You Can Get?

Credit cards with low limits make it easier to keep up with payments while allowing you the necessary credit for emergencies. We’ve reviewed the best low limit credit cards for students. When it comes to credit cards, having a higher credit limit may not always be the best option. While some consumers may prefer flashy … Read more

How Do Creditors Find You? A Comprehensive Guide

In the Digital Age, it isnt usually very hard for debt collectors to track down the whereabouts of borrowers who have fallen behind on their debts. From DMV and utility company records to social media profiles and credit bureau feedback, debt collectors can almost always access information that helps them to contact borrowers whose debt … Read more

Should I Pay a Charged Off Account After 7 Years?

A charge-off can remain on your credit report for seven years from the date the creditor charged off the debt. A charge-off, which appears on your credit report after a lender or other creditor gives up trying to collect a debt you owe, remains on your credit report for seven years. Lenders view charge-offs as … Read more

What Are Credit Risk Factors?

Credit risk factors are elements that lenders consider when deciding whether to extend credit to a borrower. These factors help lenders evaluate the likelihood that a borrower will repay their debts as agreed. Understanding credit risk factors provides insight into how lenders assess creditworthiness and make lending decisions. Why Do Lenders Assess Credit Risk? Lenders … Read more

How Often Can I Deposit $10,000 Into My Bank Account?

Many banks don’t limit the amount of cash you can deposit. However, depositing more than $10,000 will subject your deposit to extra rules and regulations from the bank and the federal government. If you have a substantial deposit to make, know that holding more than $250,000 at the same bank—even in multiple accounts—may not be … Read more

How Do Mortgage Servicers Make Money? A Comprehensive Guide

Mortgage servicers play a crucial behind-the-scenes role in the home lending industry. But how exactly do these companies turn a profit? In this comprehensive guide, we’ll demystify mortgage servicing and break down the key ways servicers generate revenue. What Is a Mortgage Servicer? A mortgage servicer is a company that handles the day-to-day administration and … Read more

What Is a Healthy Amount of Credit Card Debt?

Credit card debt is nothing new for most Americans. In fact, the “vast majority” of adult Americans have at least one credit card in their wallets and borrowers across the United States owe credit card companies a combined total of more than $1 trillion according to the U.S. Government Accountability Office. As you use your … Read more