Home Seller’s Guide to Mortgage Types
A bonanza of multiple offers means many home sellers can choose whichever buyer’s bid they like best. The temptation to grab the highest price and call it a deal is naturally strong. But price isn’t the only factor that sellers should consider. Financing affects sellers, too — because if something goes wrong with the mortgage, the sale might not close. From the seller’s perspective, here are pros and cons of four types of homebuyer...
Consumer Confidential: Why Is University of California Investing in Payday Lender Ace Cash Express?
The University of California makes money when American workers become trapped in endless cycles of high-interest debt. That’s because the university has invested millions of dollars in an investment fund that owns one of the country’s largest payday lenders, ACE Cash Express, which has branches throughout Southern California. ACE isn’t an upstanding citizen even by the bottom-feeding standards of its industry. In 2014, Texas-based ACE...
Joint Credit Card: 3 Perks
Applying or co-signing for a credit card with your loved one has its risks. The credit card and its activity appear on both of your credit reports, and you’re both responsible for the balance. If your loved one has good financial habits, however, a joint credit card account comes with a lot of perks. From helping you combine your finances to building credit and racking up rewards, a joint credit card is a great financial tool for...
Rules for Social Security Benefits
Question: We have two children in college, both entering their junior years. We have two more in high school. The two currently in college need additional financial assistance, as they’ve tapped out their federal student loans. We are middle class, grossing about $125,000 a year, so we don’t qualify for much financial aid. We’re considering a cash-out refinancing of our home, but we feel as though we can do it only once, since each...
Tips: Become Richer In Just One Year
Does it feel like it’s getting harder and harder to make it from one paycheck to the next? If so, you’re not alone. Nearly half of Americans are living without a savings safety net and wouldn’t be able to find the cash to cover a $400 emergency expense without selling something or borrowing money, according to a Federal Reserve report released in May. A separate report released in June by Capital One found that only 54 percent of...
