The Surprising Side Effect of Student Loan Forgiveness Programs

Students

The Surprising Side Effect of Student Loan Forgiveness Programs

The Surprising Side Effect of Student Loan Forgiveness Programs

As more people learn about and use public service loan forgiveness and income-based repayment plans to make student loan payments more affordable, the U.S. could run into an economic issue. Such loan forgiveness programs incentivize borrowing, according to a recent report from New America Education. The report authors, Jason Delisle and Alexander Holt, analyzed debt… Read More

Mortgage Rates Dip Below 4%

Mortgages

Mortgage Rates Dip Below 4%

Mortgage Rates Dip Below 4%

People thought it wouldn’t happen this year, but it did: Average 30-year fixed mortgage rates dipped below 4% last week, hitting their lowest level in 2014, Freddie Mac said in a news release. The 30-year fixed-rate mortgage averaged 3.97% last week, down from 4.12% the week prior and 4.28% the same time last year. That… Read More

How Our Holiday #SpendingFreeze Is Going: Week 2

Personal Finance

How Our Holiday #SpendingFreeze Is Going: Week 2

How Our Holiday #SpendingFreeze Is Going: Week 2

Inspired by a recent article, several Credit.com staffers are tracking their own personal spending freeze on social media. You can follow their progress as they stop spending and start preparing for the holidays using the hashtag #spendingfreeze on Facebook and Twitter. We’ll also be updating our readers weekly with our insights and struggles on the blog… Read More

How to Avoid Paying Too Much for a New Home

Mortgages

How to Avoid Paying Too Much for a New Home

How to Avoid Paying Too Much for a New Home

We all know buying a home is a big decision with its own set of challenges. The most difficult part usually comes first — calculating how much house you can afford. You will want to take a look at your free annual credit reports and credit scores too, since your credit scores are a major factor in the interest… Read More

Strange But True Stories of Debt Collection

Managing Debt

Strange But True Stories of Debt Collection

Strange But True Stories of Debt Collection

In 2005, our reader who goes by the screen name “frustrated in California” stopped paying on one of his credit cards. Now, nearly 10 years later, a collection agency is suing him and claims he made a payment of $200 in October 2010. He wrote: I know I did not make any payment, and under pressure, (the… Read More

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