Foreclosure vs. Short Sale: What’s Worse for Your Credit?

Mortgages

Foreclosure vs. Short Sale: What’s Worse for Your Credit?

Foreclosure vs. Short Sale: What’s Worse for Your Credit?

Short sales are on the rise and more and more underwater homeowners asking how their credit scores will fare after a short sale or foreclosure – and how the two outcomes compare.  It’s a good question, since the homeowner will have to live with the consequences of this decision for at least seven years, the… Read More

Foreclosure Aftershock: Paying the IRS

Mortgages

Foreclosure Aftershock: Paying the IRS

Foreclosure Aftershock: Paying the IRS

Christine, a Credit.com reader, thought that after losing her home to foreclosure, there would be no new financial shocks for a while. Then she received a letter from the IRS. “I filed my taxes in 2010 and thought everything was fine,” Christine wrote in a comment to a Credit.com story, “then yesterday I received a… Read More

Why Do Credit Cards Have Expiration Dates?

Credit Cards

Why Do Credit Cards Have Expiration Dates?

Why Do Credit Cards Have Expiration Dates?

Why do credit cards have expiration dates? If you’re like me, you probably haven’t given it much thought, or even paid attention to that date until you get a new card in the mail – or noticed that the one you have is about to expire. But issuers take expiration dates seriously; turns out, they… Read More

Everything You Need to Know About the Newest CFPB Proposal

Personal Finance

Everything You Need to Know About the Newest CFPB Proposal

Everything You Need to Know About the Newest CFPB Proposal

The federal agency in charge of helping consumers avoid predatory or misleading lending practices is now proposing a way to help borrowers better understand the full cost of borrowing to buy a house. The Consumer Financial Protection Bureau recently proposed a new type of disclosure form for mortgages that will give borrowers a clearer understanding… Read More

The Most Expensive Sports Your Kids Will Quit

Personal Finance

The Most Expensive Sports Your Kids Will Quit

The Most Expensive Sports Your Kids Will Quit

An allowance, clothes, food, toys, games, electronics, movies. You buy your kids lots of things. But one of the biggest expenses can be equipment and apparel for the after-school sports they’re dying to join one day and then are totally over the next. The kids’ sports industry is estimated to be around $5 billion annually,… Read More

Tight Credit Requirements for Mortgages Could Be Costing Consumers

Mortgages

Tight Credit Requirements for Mortgages Could Be Costing Consumers

Tight Credit Requirements for Mortgages Could Be Costing Consumers

These days, many consumers may be getting their finances back together and improving their credit standings, but that has likely had little effect on their ability to qualify for a mortgage, which can lead to higher costs for rent. In response to high rates of consumers choosing to rent homes rather than buy during and… Read More

Harassed About a Debt You Don’t Owe? 5 Ways to Fight Back

Managing Debt

Harassed About a Debt You Don’t Owe? 5 Ways to Fight Back

Harassed About a Debt You Don’t Owe? 5 Ways to Fight Back

Like many people these days, Credit.com reader E.D. is receiving phone calls from collections agents. Unlike many readers, however, E.D. is certain that the debt doesn’t exist. The callers say they are representing Capital One, but E.D. has never received a loan or a credit card from the bank. “I spoke with them over a… Read More

To Pay or Not to Pay? The Question of Old Debts

Managing Debt

To Pay or Not to Pay? The Question of Old Debts

To Pay or Not to Pay? The Question of Old Debts

It’s the perfect Catch-22. Because of the lingering foreclosure crisis and the nation’s stagnant economic recovery, the Federal Reserve is holding interest rates at near-record lows, making right now the perfect time to get a mortgage. But also because of continued problems in the mortgage industry and the economy as a whole, banks are more… Read More

Hilton Customers at Risk of ID Theft, Blogger Alleges

Identity Theft

Hilton Customers at Risk of ID Theft, Blogger Alleges

Hilton Customers at Risk of ID Theft, Blogger Alleges

As a security consultant who travels up to 40 weeks a year, T. Robert Wyatt has spent his share of nights in Hilton hotels. In recent years, he has noticed problems with Hilton that extend far beyond unclean rooms or clogged shower drains. According to a lengthy recent blog post, Wyatt says that he has… Read More

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