Internet scam artists are moving beyond your email inbox to target your text messages as well. “SMiShing,” also known as SMS Phishing, continues to loot information from busy and unaware consumers despite its relative maturity as a scam method.
Here’s what you should know about SMiShing and how to protect yourself:
SMiShing occurs when a
Borrowing
A construction lien, otherwise known as a mechanic’s lien, is a claim that is made against a property by a contractor, subcontractor, or other professional party involved in a construction project. These liens exist to protect construction professionals from non-payment for materials or services rendered.
If you are withholding payment to a contractor for a
Your credit score is one of the primary items that lenders check when they consider loaning you money. A lower score means greater risk, and lenders will charge you a higher interest rate because of that difference – but how much could it cost you over the lifetime of a loan?
According to a new
Waiting to Buy According to a new study by the Urban Institute, millennials are waiting longer than previous generations to enter the housing market. Approximately 8% fewer millennials of ages 25-34 own homes as compared to baby boomers and generation Xers at the same point in their lives.
Why are millennials late to homeownership? The
So, you are in the market for a new vehicle, huh? You’ve got some important decisions to make. New or used? Coupe or sedan? Import or domestic? Fire engine red or metallic silver?
But perhaps your most important decision, at least from a financial standpoint, is how you will pay for the vehicle. You have
Applying for credit for the first time is a bit like applying for your first job. People are hesitant to hire you because you don’t have any job experience, and you can’t get any job experience because nobody will hire you. In the case of credit applications, creditors are leery of extending credit if they
Are you having trouble getting a home loan because you have no suitable credit history? Has your credit activity been dormant for a long enough time that lenders can’t properly evaluate your risk?
The FICO credit-scoring standard used by Fannie Mae and Freddie Mac requires that potential borrowers have a credit account
According to Federal Reserve data compiled by MagnifyMoney, Americans paid $104 billion in interest on credit card purchases over the twelve months ending March 2018. That’s not outstanding credit card balances, which are near $1.04 trillion as of May 2018 – that’s just interest charges on the outstanding amount.
How much did you
Have you been denied a mortgage loan recently? Rejections usually don’t come down to a single reason, because lenders look at your overall financial status.
However, some factors increase your risk of rejection. According to NerdWallet’s 2018 Home Buyer Report, three issues stand out as primary reasons for mortgage denials based on the most recent
Is a bad credit score dragging you down? Almost half of millennials (46%) feel that way, according to a new survey conducted by OppLoans.
It’s an understandable feeling, given that millennials came of age during one of the worst recessions in decades. Many millennials emerged from the recession with delayed careers or lower-than-expected
Who wants simpler taxes? Most of us do, assuming we also keep more money in the process.
Starting in 2018, homeowners are more likely to have simpler tax returns – but they may need to make similar tax calculations to ensure a lower tax bill.
Tax simplification was part of the pitch to sell the
Just like assets can be sold, so can debts. It’s possible that your auto loan or mortgage could be sold by one lender to another. If your debt is in good standing, the terms and conditions of your agreement generally apply, but things relating to the servicing of your loan such as due dates and
With hard work and discipline, you’ve managed to whittle down your sizable credit card debt to zero. What’s the next step? More hard work and discipline. Keep doing what you were doing, because it’s working for you.
The principles that allowed you to eliminate your debt established fiscal responsibility and gave you positive momentum. Don’t
You probably comparison-shop for most of your purchases, especially the high-dollar ones. If you’re going to spend money on a new appliance or an automobile, you want to review options to make sure you’re getting the best deal.
According to the Consumer Financial Protection Bureau (CFPB), there’s a big exception to this rule – mortgages.
When your credit score is down, it takes great effort to rebuild it. You have to take care to pay down your debts and get your finances in order. You may also have to change some of your spending habits to have the greatest impact. Consider these five spending habits that will retard your credit
You want to know exactly what you are getting when you make any large purchase, especially when you are buying a home – the largest purchase that many Americans will ever make in their life. That’s why a real estate disclosure statement is a fundamental part of any real estate transaction.
By law, home sellers
Homeowners may see less of a tax break this year, thanks to the Tax Cuts and Jobs Act (TCJA). Beginning with homes purchased after December 16, 2017, you can only deduct the interest incurred on $750,000 of mortgage debt on qualifying residences (primary homes and one second residence). Under prior law, the limit was $1
You’re in a cash-flow crunch again. An important bill is due, and you’ve earned the money to pay that bill – but it’s not payday yet. You’re on a two-week pay cycle and have to wait for another week or so before your money is available.
What are your options? Ask a friend or relative
It just makes sense. When mortgage interest rates rise, fewer people can afford to buy homes. Home sales go down as a result. Conversely, when interest rates drop, homes become more affordable and home sales will go up.
There’s only one problem with this premise. It isn’t necessarily true.
According to Sam Khater, a deputy
Be Afraid of the Dark
Is your credit card information floating around the dark web, waiting to be sold to an enterprising criminal? That’s increasingly likely. According to the cybersecurity research group IntSights, black-market credit card information for sale has increased by almost 150% over the last 18 months – surpassing 4,000 credit cards
Your data is under constant attack from hackers. Unless you take steps to protect your personal and account information, you’re at a high risk for identity theft – and the residents of some states are less vigilant than others when it comes to cybersecurity.
A survey conducted by cybersecurity company Webroot and the Ponemon Institute
Your kids are growing up fast. Soon, it will be time to have … the talk.
No, not that one. We’re referring to the talk about responsible use of credit. If you don’t drive home the importance of good credit practices while your children are young, they’re more likely to learn about credit the hard
You want to buy a home and have the income to support a decent monthly payment – but you can’t save up enough money for a significant down payment. With home prices and interest rates rising, you’re afraid that you’ll be priced out of the market before you can save up a full down payment.
Do you consider a rewards program as an integral part of your credit card choice? According to a new study by finder.com, close to one-third of Americans use credit cards just to get the associated rewards.
The finder survey suggests that approximately 71.7 million Americans (29.2% of the adult population) make credit card purchases just
Another Day, Another Breach
Have we reached the point where Americans react to data breaches with a yawn? Given the constant stream of new attacks and the staggering number of accounts involved, that’s an understandable reaction.
The sportswear retailer Adidas recently joined the list of companies successfully attacked by hackers. The size of the
Homeownership remains a goal for most Americans. According to NerdWallet’s 2018 Home Buyer Report, 91% of respondents want to own at least one home during their lifetime. However, that same report shows eight concerns renters have regarding that goal. If you haven’t bought a home yet, see if they match your concerns. 1. Purchase Cost
A poor credit score makes your financial life difficult in a number of ways. You receive poorer interest rates and terms on credit cards, it’s harder to qualify for mortgages, and, “When it comes time to get insurance, maybe your insurance premiums will be a little more expensive because you have a low credit score,”
By Sandra Parsons In a recent article, we described the implications of being less than three months late with your credit card payment. While late fees, increased interest rates, and a knock to your credit score are bad enough, there are even more serious consequences when your payment is late by ninety days or more.
Congratulations! Your shopping has paid off and you’ve finally found an excellent car at a reasonable price. Now, how do you plan to pay for it?
Dealers will be happy to arrange financing for you. Simply fill out and sign a loan application, and the Finance and Insurance (F&I) manager will immediately begin searching
How much does your credit score affect your mortgage rates? A recent study by Zillow shows that the higher interest rates from a poor credit score can have a profound impact on the amount of interest you’ll pay over the life of a mortgage.
Zillow analyzed over 100,000 mortgage quotes offered on Zillow Mortgages across
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