The Credit CARD Act requires credit card issuers to disclose on your monthly statement how much it will cost, and how long it will take, to pay off your credit card balance if you just make minimum payments. It’s a provision that has been applauded by consumer educators, myself included. But all is not as… Read More
Many of us probably know someone who has lost their home in this economic downturn, and therefore can empathize with whatever situation—whether they lost their job or were a victim of predatory lending—made it nearly impossible for them to stay current on their credit obligations (mortgage as well as credit cards, auto loans, etc.). At… Read More
Today’s top news headlines feature the results of a new poll highlighting Americans’ feelings toward certain budget cuts and strategies some companies use to keep employees happy. Plus, find out why fewer baby boomers plan to leave their money to their children. Americans Disapprove of Slashing Medicare, Other Services The Washington Post The results of… Read More
A company that falsely claimed it could help homeowners avoid foreclosure—and charged up to $2,500 for the phantom service—must repay all its victims, according to the Federal Trade Commission. The company, Florida-based Home Assure, stole between $1,500 and $2,500 from each victim. Now those victims—1,410 in all—are getting their money back. The FTC began mailing… Read More
For many people, getting out of debt can seem like an insurmountable challenge. There are many strategies out there—from debt laddering, to bargain hunting and even investment vehicles. Recently, we came across one that piqued our interest. Jean Chatzky, personal finance guru and bestselling author, has introduced something called The Debt Diet™. This strategy focuses… Read More
Jean Chatzky’s first debt diet was the result of a personal emergency. She was just out of college, writing for a women’s magazine, living in New York. Her rent wasn’t even especially high, Chatzky says. But New York is a famously expensive city. All of a sudden, she racked up credit card debt equal to… Read More
If you are throwing personal financial tricks with your monthly budget, it can feel like balancing on a 4 inch wide wooden beam. How long can you keep your balance until you fall?
A majority of consumers have suffered some economic distress in the last few years as many experienced some type of income loss, or saw the value of their home decline significantly, and this has led to more caution around debt in general, according to a new study conducted jointly by researchers at Oregon State University… Read More
By now, nearly every American should know that a “credit report” and a “credit score” represent a measure of our personal financial integrity. Those reports and scores, for individuals, are kept and computed by a select number of large companies (like Equifax, TransUnion, FICO and Experian). Even though most of us have had little if… Read More
By David Ning
Here are eight tips to help you make the mortgage application process go a bit smoother.