Mortgage Rates Still Too High For Most Americans

Mortgages

Mortgage Rates Still Too High For Most Americans

Mortgage Rates Still Too High For Most Americans

While many Americans have taken the time to refinance their home loans to take advantage of the low rates currently available, the vast majority of homeowners are still paying interest rates that are much larger. Though mortgage rates on 30-year fixed-rate loans have hovered at or near all time lows more or less all year,… Read More

10 Cities With the Worst Credit Scores

Credit Score

10 Cities With the Worst Credit Scores

10 Cities With the Worst Credit Scores

They say everything is bigger in Texas. But apparently that doesn’t apply to credit scores. Credit reporting bureau Experian released its annual State of Credit report, which examines various statistics related to personal credit on both a national and local level. That includes ranking America’s cities by credit score, and once again many towns in… Read More

Credit Card Balances Still Major Money Worry

Managing Debt

Credit Card Balances Still Major Money Worry

Credit Card Balances Still Major Money Worry

Millions of Americans have been able to successfully reduce the amount of money they owe to credit card lenders in the last few years, but those balances still remain a major concern to many. In all, 40 percent of consumers say that their ability to pay their credit card bills, as well as their mortgage… Read More

How to Spot Fraud On Your Credit Reports

Identity Theft

How to Spot Fraud On Your Credit Reports

How to Spot Fraud On Your Credit Reports

You find wrong information on your credit report. Is it a simple mistake or something more sinister? Here are some warning signs that you could be a victim of credit fraud: Your Personal Information is Wrong “If you see a name you’ve never used, a Social Security number that doesn’t belong to you or an… Read More

94 Million Exposed: The Government’s Epic Fail on Privacy

Identity Theft

94 Million Exposed: The Government’s Epic Fail on Privacy

94 Million Exposed: The Government’s Epic Fail on Privacy

When you hear a number like “94 million” in the news, it’s usually because somebody won the lottery. This time around, no such luck. This 94 million is the number of Americans’ files in which personal information has been exposed, since 2009, to potential identity theft through data breaches at government agencies. Go ahead, count… Read More

Spend Your Way to a Better Credit Score

Credit Score

Spend Your Way to a Better Credit Score

Spend Your Way to a Better Credit Score

A woman who was turned down for a loan recently came to me for advice to find out why she was rejected. Sitting at my desk, she said she had perfect credit. When I asked her why she thought her credit was perfect, she replied that she should have perfect credit because she had no… Read More

CFPB: We’re Making Lending Easier to Understand

Mortgages

CFPB: We’re Making Lending Easier to Understand

CFPB: We’re Making Lending Easier to Understand

The federal agency in charge of making sure consumers have adequate protections when it comes to financial products noted that many of its attempts to give borrowers a better understanding of those products seem to have been successful. Richard Cordray, the director of the Consumer Financial Protection Bureau, recently spoke before the U.S. Senate Committee… Read More

How a Mortgage Can Help (or Hurt) Your Credit

Credit 101

How a Mortgage Can Help (or Hurt) Your Credit

How a Mortgage Can Help (or Hurt) Your Credit

Will a mortgage help — or hurt — your credit? If you’re thinking, “Well, both,” you’re exactly right. But there are subtleties involved that may surprise you. To get a mortgage these days, a lender is going to closely scrutinize your income, debt, and credit history before giving you the loan. That makes a mortgage… Read More

Is There Any Chance of Lowering Your Car Payment?

Auto Loans

Is There Any Chance of Lowering Your Car Payment?

Is There Any Chance of Lowering Your Car Payment?

Deb is paying a lot for her car. And like many Americans, she will continue to pay for many years to come. “I am trying to reduce my car loan payments,”she wrote in response to a recent Credit.com story. “Which is 270 per month for the next five years. Is there a good way to… Read More

Did Swipe-Fee Reform Help Consumers?

Credit Cards

Did Swipe-Fee Reform Help Consumers?

Did Swipe-Fee Reform Help Consumers?

When the Durbin Amendment took effect in October, capping the swipe fees that banks can charge retailers on debit card transactions, consumers predictably got caught in the cross-fire. Crying poverty over the loss of revenue, the large banks affected by the reform started phasing out their free checking offerings; one bank, Bank of America, even… Read More

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