If you’re considering refinancing your home, you might have heard the term “netting your escrow account.” It’s an important concept that can save you time and money. But what does it mean, and why should you care? Let’s break it down and explore the benefits of netting your escrow account with your current lender during … Read more
Homebuyers with cash income can absolutely qualify for a mortgage! Learn the steps to take, what to avoid doing, and much more in this all-in-one guide. “Paying cash” for a house typically means that someone is buying the home outright (without a mortgage). But sometimes, mortgage borrowers want to use cash as a means to … Read more
Marriage is a beautiful union between two people who decide to share their lives together However, it also merges your finances, which can get complicated. One common question that arises is, “Is a wife responsible for her husband’s debt?” The short answer is – it depends. There are several factors to consider when determining if … Read more
Experian is one of the three major credit bureaus in the United States. The other two are Equifax and TransUnion. These credit bureaus compile information about your credit history from various sources and use it to calculate your credit scores. But how reliable is the information Experian provides? Here is a detailed look at Experian … Read more
The look of your credit score can be deceiving. If you’re worried you have a low credit score, it may have something to do with which credit reporting agency you’re using. Two of the major credit bureaus are TransUnion® and Equifax®. While both collect and store your credit information, they do so in slightly different … Read more
If you are a homeowner with a conventional mortgage who makes monthly payments on your home, you may have heard about biweekly mortgage payments as an alternative to traditional payment plans. The logic is that increasing the frequency of the payments reduces the interest that builds up and, over the course of a 30- or … Read more
A debt spiral can be a significant obstacle to reaching your financial goals. If you have a variety of debts, like credit cards, student loans, car loans, and mortgages, you may find yourself trapped in an ongoing spiral of debt as your payments go toward growing interest. Getting out of a debt spiral creates financial … Read more
You can stop electronic debits to your account by revoking the payment authorization, sometimes called an “ACH authorization.” You have the right to stop a payday lender from taking automatic electronic payments from your account, even if you previously allowed them. You may have signed a payment authorization, which is sometimes called an “ACH Authorization.” … Read more
If your application for a credit card is approved, your credit card issuer will offer you a set credit limit, which is the maximum amount of money you can charge. You may be asking yourself, “What’s a good credit limit to have?” Unfortunately, there’s no simple answer. It’s different for each person. Credit card limits … Read more
For many retirees, Social Security benefits are a crucial source of income However, to qualify for Supplemental Security Income (SSI) benefits, there are strict resource limits on how much you can have in assets like cash and bank accounts. Understanding these limits is important for retirees relying on SSI to make ends meet. What are … Read more