Wells Fargo Drops Reverse Mortgages: Is Financing Option Still Viable?

Mortgages

Wells Fargo Drops Reverse Mortgages: Is Financing Option Still Viable?

Wells Fargo Drops Reverse Mortgages: Is Financing Option Still Viable?

Last week, mega-bank Wells Fargo announced it will stop selling reverse mortgages to senior citizens. It was the second large bank to drop such loans, after Bank of America made the same decision in February. But does that mean reverse mortgages are a bad deal for seniors? Does it mean such loans will no longer… Read More

Financial News Roundup: Foreclosure Backlog Climbs, Unemployed Woman Jailed

Mortgages

Financial News Roundup: Foreclosure Backlog Climbs, Unemployed Woman Jailed

Financial News Roundup: Foreclosure Backlog Climbs, Unemployed Woman Jailed

Today’s top news headlines feature reasons many defaulted homeowners’ properties have not been repossessed and a new poll revealing Americans’ emergency savings are in trouble. Plus, find out why one unemployed woman was thrown in jail. Large Number of Americans Lack Emergency Savings The Associated Press A recent poll reveals almost a quarter of respondents… Read More

Credit Cards that Help You Build a Nest Egg

Credit Cards

Credit Cards that Help You Build a Nest Egg

Credit Cards that Help You Build a Nest Egg

It’s June and that means a lot of weddings are taking place. If you’re a newlywed, it might not sound very romantic to discuss finances so soon after a dreamy ceremony. But getting old and then facing a lousy retirement together doesn’t sound romantic either, does it? It’s so much better to grow old together when you can afford… Read More

How Will Marriage Impact Your Credit Profile?

Credit 101

How Will Marriage Impact Your Credit Profile?

How Will Marriage Impact Your Credit Profile?

Despite some popular misconceptions, marrying somebody does not mean becoming tied automatically to their credit profile. After marriage, you and your spouse will always have separate credit reports and credit scores. The mere act of getting married will have no bearing on either (aside from any name changes, which are accounted for in credit reports)…. Read More

Huge Backlogs Still Delaying Foreclosure Actions

Mortgages

Huge Backlogs Still Delaying Foreclosure Actions

Huge Backlogs Still Delaying Foreclosure Actions

In states where any foreclosure taken must go through the court system, a huge backlog of cases has built up, according to a report from The New York Times. Statistics from the real estate data tracking company LPS Applied Analytics shows that in a number of cases, these would take at least a decade to… Read More

Are Prepaid Cards Worth It?

Credit Cards

Are Prepaid Cards Worth It?

Are Prepaid Cards Worth It?

I’ve never been a big fan of prepaid cards, as many charge exorbitant fees from monthly maintenance to reloading fees. But with such rapid growth in the industry, this category of plastic is becoming a fierce contender to credit and debit cards, and I can’t help but take notice. Americans spent $140 billion using prepaid… Read More

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