How badly do you want to own a home? What would you be willing to give up to achieve the American dream? Discover what sacrifices recent homebuyers made to purchase their homes, and whether they see the acquisition as a worthwhile investment.
Your credit history is an important factor in getting your mortgage approved.
Borrowing
By Eric Olsen, Executive Director HELPS Nonprofit Law Firm
Affordable transportation is often a concern for senior citizens. Some seniors go without basics to make car payments they can’t afford for a car with little or no equity. Others need affordable replacement transportation but don’t have the income to finance a car. What are
Does your student loan situation look hopeless? Don’t give up hope yet. Consider these alternative repayment programs that can provide manageable loan payments and lead to forgiveness of a portion of your loan in exchange for some form of service.
1. Public Service Loan Forgiveness (PSLF) Program – As it stands, the PSLF program allows
You may not need to make a down payment of 20% but putting together the down payment is still one of the most challenging steps in buying a home. Check out our infographic above to see what obstacles other recent homebuyers faced in trying to save for their down payments.
The smaller the down
It’s not uncommon for companies to help with tuition payments for their employees who are continuing their education, especially if they are working toward a professional degree that will help them in their job or with future advancements in the firm. Such a program can be a great recruiting tool.
Unfortunately, these programs do not
Let’s say you’re tempted to make a withdrawal from your 401(k) plan to pay off some debts. You can always catch up by paying that money back into your retirement savings later, right? Unfortunately, it doesn’t work that way. Don’t rob your future to pay for your past! Watch Bankrate.com Senior VP and Chief Analyst
America’s total student loan balance has topped $1.5 trillion, according to recent Federal Reserve data. Default rates on student loans are at 11%. While the job market has improved for recent graduates, many are struggling with excessive debt (over $39,000 at graduation on average) and entry-level jobs that make repayment difficult.
Enter an alternative
According to the G.19 Consumer Credit Report recently released by the Federal Reserve, America’s total student loan debt has topped $1.5 billion – and we are having trouble paying off that debt. At of the end of 2017, a whopping 11% of student loans were either ninety days delinquent or in default.
The Department
Affordable Housing? What Affordable Housing? Affordable housing is increasingly hard to find in today’s market. According to data from Trulia, America’s inventory of starter homes has decreased by almost half compared to six years ago while prices rose by almost 58%.
As consumers recovered from the housing crisis and Great Recession, more people became financially
As a nation, America’s student debt load is reaching crisis proportions. The New York Federal Reserve puts the total student loan debt at over $1.52 trillion, with the delinquency rate over 11%.
Is your personal student loan situation nearing a similar crisis? Consider these five warning signs to assess whether you are handling your student
A student loan can be your best friend or your worst nightmare. It can lead to an advanced degree that leads to a better job with higher pay and superior benefits. It can also be a millstone of debt keeping you from fulfilling other life goals – such as owning a home.
A recent
America’s outstanding student loan debt reached $1.52 trillion in the first quarter of 2018, according to information from the New York Fed. Have you ever wondered whether a significant amount of that debt is located in your city – or even in your zip code? Wonder no more.
The Mapping Student Debt Project at the
You anticipated a large refund on your taxes to pay off some bills and put some money away in a rainy-day fund. Unfortunately, the money never showed up. What happened?
Your refund may have gone toward an unpaid bill selected by the government – your unpaid student loan.
Your federal student loan is
Getting a personal loan online has grown into a multi-billion-dollar industry, with lenders ranging from individuals in peer-to-peer programs to big banks. Although countless Americans have been helped by the ability to borrow money without leaving home, others have hurt themselves by being ill prepared for the process.
“Because the loans are being evaluated remotely,
Congratulations! You made it through college armed with a degree, and hopefully a job. Now it’s time to move on to the next stage of your education: life. The tests are all open book, the deadlines are varied, and some lessons are much harder and carry higher stakes than others do. Worst of all –
Buying a home will probably be the most expensive item you ever purchase… until you buy the next one! MoneyTips is happy to help you get free mortgage and refinance quotes from top lenders.
Finding the right home at the right price is always a challenge. Discover how other American homebuyers searched for – and
Do you receive rewards from your current credit card? Unless you are just starting out and have no credit history, or are attempting to rebuild poor credit, you should be able to qualify for a rewards credit card. We suggest evaluating your credit card options to optimize your rewards – but consider these three tips
Where did you learn how to handle credit cards? According to a new survey conducted by the website CreditCardsExplained.com, there’s almost a 50% chance that you’re self-taught.
The survey of 2,500 respondents showed that 45% of consumers never had a proper education on credit cards. Of those who received their credit card education in school,
You’ve made some life decisions that you’ve regretted, and some of those decisions surely involve money. What sort of money mistakes have you made?
Don’t be shy about admitting your financial mistakes. According to the latest version of Finder.com’s annual America’s Biggest Money Mistakes survey, you have 192 million fellow Americans to keep you company.
Are you having difficulties paying off your student loan debt? If you don’t qualify for other methods of help, refinancing your student loan might be a suitable option. Consider these seven questions to see if refinancing makes sense in your case.
1. What Are You Trying to Achieve? – Are you trying to reduce monthly
It Will Cost You More to Buy A Home The housing market topped a new threshold over the past week. Buoyed by a strong economy and a series of interest rate increases by the Federal Reserve, thirty-year fixed mortgage interest rates reached 4.61% – the highest number since May of 2011.
Rates crossed the 4%
Welcome to the 2018 home-buying market. Rising demand and an extremely tight supply of homes, especially in the critical starter-home market, make it difficult to realize your goal of home ownership.
In this buyer’s market, you’ll need two important things to land your dream home – more money and a higher credit score.
Data from
We know the stereotype of the unmotivated millennial, living at home with their parents without any long-term plan or concern about their situation. Is that a fair representation? Do millennials disproportionately live with their parents? If so, is this from necessity, lack of motivation, or part of a grander strategy?
It’s logical that younger generations
Are you satisfied with your credit cards? If so, are you convinced that your current card best fits your needs – or have you never considered other options?
Whatever the reason, many Americans tend to stay with their existing card. A recent survey from CreditCards.com found that 28% of Americans, about 49 million, have always
President Trump promised changes in Washington upon his election. Whether you are a Trump fan or foe, there’s no question he’s succeeded in that goal. Sometimes the change is precipitated by the President’s choice to lead an agency, as in the case of the Consumer Financial Protection Bureau (CFPB).
The CFPB was born out of
Which is the worst first-date mistake – talking about an ex, eating food off your date’s plate, or mentioning that you are heavily in debt?
We have no idea, but we’re guessing that a second date is unlikely in all those cases. A new survey from Finder.com suggests that in the case of excessive debt,
How bad is America’s student loan situation? According to recent data from the New York Federal Reserve, our $1.38 trillion in outstanding student loan debt is second only to mortgage debt but comes with a higher delinquency rate.
As of the end of 2017, approximately 1.3% of mortgage balances were delinquent by ninety or more
Home ownership is a fulfilling but difficult goal. The challenges of being single can make it even more difficult to find an affordable home to buy – especially for single women.
According to data provided by Zillow, the typical single American requires almost eleven years to save up a suitable down payment for a home
We frequently hear about America’s crushing student loan debt – but auto loans are not far behind. While student loans are approaching $1.5 trillion, outstanding auto loans topped the $1.2 trillion mark in the third quarter of 2017 according to the New York Federal Reserve.
Subprime borrowers (FICO credit scores below 620) hold almost one-quarter
Subprime Loans are Back Since the housing crisis began over a decade ago, subprime mortgage loans basically disappeared – thanks to regulatory actions from government and self-preservation for both lenders and borrowers. The effects of borrowing more than you could safely afford to repay became obvious to all parties.
Subprime mortgage loans have been making
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