An Auto Loan Inquiry Dropped My Credit Score 80 Points! What Now?

Auto Loans

An Auto Loan Inquiry Dropped My Credit Score 80 Points! What Now?

An Auto Loan Inquiry Dropped My Credit Score 80 Points! What Now?

One of our readers went car shopping, and had an unpleasant surprise when the dealer made a credit inquiry. Here’s the story: Recently my boyfriend and I went to look at vehicles for him. He saw one he was interested in but knew we weren’t ready to purchase yet. The auto dealership convinced him to... Read More

The Top Debt Ceiling Concern: Nothing

Personal Finance

The Top Debt Ceiling Concern: Nothing

The Top Debt Ceiling Concern: Nothing

Should Congress fail to reach a debt ceiling agreement and the government defaults on its debt, many Americans are concerned about mortgage rates rising and the potentially negative impact on their salaries and job security, according to a new Credit.com survey. The survey consisted of two questions — one pertaining to interest rates, the other... Read More

72% of Bankers Say Interest Rates Will Rise

Personal Finance

72% of Bankers Say Interest Rates Will Rise

72% of Bankers Say Interest Rates Will Rise

Experts expect consumer demand for credit to continue growing during the next six months, driven mostly by those in the 30- to 39-year-old age group. The quarterly survey of bank risk professionals conducted for FICO by the Professional Risk Managers’ International Association (PRMIA) also showed expectations for increased interest rates. The groups have conducted the... Read More

Privacy Policy Changes at Google: What You Need to Know

Identity Theft

Privacy Policy Changes at Google: What You Need to Know

Privacy Policy Changes at Google: What You Need to Know

Consumers could lose even more control over where their face and name end up online, and now, a U.S. senator is calling for an investigation. Last week, Google announced it would soon enter the borrow-your-profile-picture advertising business, with a product it calls “shared endorsements” — basically, Google’s version of Facebook’s sponsored stories. Meanwhile, Facebook said... Read More

Foreclosure Rate Down 27% From 2012

Mortgages

Foreclosure Rate Down 27% From 2012

Foreclosure Rate Down 27% From 2012

The number of distressed properties last month decreased 27% from September 2012, with a little less than 1.3 million properties in some stage of foreclosure (default, auction or bank owned). That’s one in every 998 homes in foreclosure across the nation. Data from real estate site RealtyTrac showed that while foreclosures were up 2% from... Read More

Getting an FHA Loan Just Got Harder

Mortgages

Getting an FHA Loan Just Got Harder

Getting an FHA Loan Just Got Harder

New requirements for Federal Housing Administration-approved mortgages go into effect today, presenting potential roadblocks for homebuyers with collections or judgments in their credit histories. While lenders have recently been able to take significant economic events into account in processing loan applications, today’s changes are a step in the opposite direction for loan accessibility. The U.S.... Read More

How My Mom’s Money Skills Taught Me to Be Resourceful

Personal Finance

How My Mom’s Money Skills Taught Me to Be Resourceful

How My Mom’s Money Skills Taught Me to Be Resourceful

During the great Beanie Baby boom of the ’90s, my mom made a fortune sending me and my fleet of siblings into Hallmark stores around Michigan, each of us clutching a sweaty list of “rare” beanies, where we’d snag as many as possible under the store’s two or three per kid policy. Back in the... Read More

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