Imagine saving money for years to buy your first home. Then, in the blink of an eye, your dream of owning a home, and your savings, are gone. It’s a nightmare scenario that’s becoming all too common. Real estate wire fraud spiked during the pandemic. The best way to protect yourself from this type of scam is to familiarize yourself with how it works.
Credit cards are one of the most popular forms of payment today. While you’re probably familiar with how credit cards work, many aspects often baffle people. For example, how do financial institutions determine what limit to set on your credit card? Why does your limit sometimes increase automatically? Can it go down?
Your home is more than simply a house. It’s where you create memories with your family, entertain your friends, and relax after a hard day at work. As time passes, you want your home to keep up with your changing life and style. Remodeling your home is an excellent way to extend the life of your house and increase its value.
While many factors go into determining your credit score, a quick and simple way to gauge your creditworthiness is through your credit utilization ratio. Lenders use this figure to measure how much risk is involved when lending you money – ultimately, it plays a role in how much you’ll pay to borrow those funds.
School is almost out, and summer fun is right around the corner. What’s in store for your summer plans? Perhaps, you’re envisioning an action-packed family adventure. Or maybe it’s a tranquil retreat where you can relax and unwind. Before you get lost daydreaming about the perfect vacation, you need to consider how you’ll pay for this excursion.
Do you ever feel trapped by your finances? Maybe you have several big projects or unexpected expenses that all hit at once. Luckily, if you’re a homeowner, you have a unique and powerful way to manage these costs without draining your savings - a home equity loan.
Homeowners can’t help but do a little dance every time property values increase. What’s not to love? Higher values create more equity for homeowners. Sellers can pocket even more cash. And investors enjoy a nice boost to their net worth. While the financial benefits largely outshine any drawbacks, there are things homeowners should consider.
Few people can afford to pay cash upfront for things like cars, homes, or a college education. Access to credit and loans allows you to achieve major milestones and improve your financial position. However, with such easy access to credit, many find themselves over-relying on it. While eliminating debt can often feel impossible, many are surprised to learn they have more control over the situation than they believe.
Deciding to purchase a home is exciting and a bit nerve-racking. It’s a big decision that can impact your life and finances for years to come. But it also provides the opportunity to improve your home life and build equity in the property. One of the most common questions prospective buyers ask is, how much cash is needed upfront?
When inflation started to pick up, it was an annoyance. Prices were rising on groceries, and dining out became a luxury. Fast forward a year, and prices are up on just about everything, including utilities, gas, and even car insurance. Inflation is wearing people financially thin. However, there is a way to make ends meet without draining your savings or incurring high-interest debt. It’s called a HELOC.
