Paying off the mortgage after 30 years was a rite of passage for Americans approaching retirement age, but this once-common scenario is no longer the norm. According to research from Fannie Maes Economic and Strategic Research Group, baby boomers, those born between 1946 and 1965, are carrying more mortgage debt than earlier generations and are … Read more
Banks don’t disclose internal methodologies for determining creditworthiness and American Express is no different. The most reliable way we’ve found to ascertain which credit bureau a bank or financial institution uses to pull reports is by asking those who’ve applied for cards from a bank which of their credit reports showed a hard inquiry following … Read more
While paying off your debts often helps improve your credit scores, this isn’t always the case. It’s possible that you could see your credit scores drop after fulfilling your payment obligations on a loan or credit card debt. However, that doesn’t mean you should ignore what you owe. The benefits of paying your debts are … Read more
A credit freeze restricts access to your credit report. If you suspect your personal information or identity was stolen, placing a credit freeze can help protect you from fraud. A credit freeze can be an effective way to protect yourself against identity theft and fraud. But how long does a credit freeze last once you … Read more
So, you’re eager to pay off your mortgage early? That’s a great financial goal to set for yourself! Not only is there huge freedom in being completely debt-free and living in a paid-for house, but it’s also a great way to build wealth—getting rid of your house payment leaves you with a ton of extra … Read more
Unlocking the potential of your homes equity can be a game changer for achieving your financial goals. However, there are requirements for home equity loans and HELOCs. Knowing where you stand in terms of your credit is important, among other factors. Whether you want to renovate your home or pay for your education expenses, knowing … Read more
Applying for a loan can be stressful, especially if you have less-than-perfect credit. A big concern for many borrowers is how the loan application will impact their credit score. Will it cause their score to plummet even further? One popular online lender, CashUSA, markets itself as a source of quick cash, even for borrowers with … Read more
The 28/36 rule is an important guideline that potential homebuyers should understand when applying for a mortgage loan. This rule of thumb helps determine how much house you can comfortably afford based on your income, debts, and lifestyle. What Does 28/36 Mean? The 28/36 rule recommends that your total monthly housing costs should not exceed … Read more
According to recent data, over six million Americans are behind on their mortgage payments. If you happen to be in a similar situation and want to ease your financial burden, you may be asking, “Can I sell my house if I’m behind on payments?” In this guide, we’ll walk you through how to sell your … Read more
Buying a new car is an exciting experience. Driving off the lot with that new car smell is a feeling like no other. But that excitement can quickly turn to stress when the first payment comes due. Many new car owners are caught off guard when that first bill arrives in the mail. So when … Read more