In Debt we Trust?

I came across a statistic the other day that gave me pause and made me reflect upon what so many people are doing wrong when it comes to their finances.

According to recent surveys, about 50% of Americans die completely broke.

Even worse, most people pass away not only with a net worth of zero but addled with significant debt. In many cases, that debt obligation is then ...

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Everything you need to know about appraisals

If you’ve bought ot sold a home or even refinanced your mortgage, you’ve surely encountered the term “appraisal.” But what is it? An appraisal is just an informed evaluation from a professional appraiser. It attempts to define the market value, which is used by banks, lenders, and buyers and sellers.

It comes after a thorough and detailed inspection of the property in question, at which point ...

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What credit score do you need to buy a home?

 

If you’re thinking of buying a home for the first time, or maybe haven’t owned since the real estate collapse starting in 2008, you may be wondering what credit score you need to get a mortgage. 

In fact, before the housing market crashed, it was far easier for the average person to get a loan since credit standards were very low (or nonexistent!) and the subprime ...

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Grrr and ughhh about $$$! Our stress about money and finances is higher than ever

According to new data from the American Psychological Association and other studies, money is the leading cause of stress for Americans.

In fact, 76 percent of Americans report that financial worries stress them out the most, above even work (70 percent), angst about the economy (65 percent), family responsibilities (47 percent) and personal health concerns (46 percent).

1 in ...

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Using Dave Ramsey’s Debt Snowball method to pay off your credit cards.

Amid our current rosy good news of stock market surges and economic growth, there sits an extremely prickly thorn: high credit card debt. In fact, the levels of U.S. consumer credit cards and other personal debt have reached levels not seen since the debt parade stopped in 2008 with the U.S. financial collapse.

In fact, as of 2016, our collective consumer credit card debt climbed to $927.1 billion, ...

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Fannie Mae’s Risk Based Pricing benefits mortgage applicants with high credit scores.

Approving mortgages is all about assessing risk, as underwriters scrutinize every detail and shred of data in hopes of accurately predicting if a potential borrower will pay their mortgage on time every month – or default.

That’s good news for consumers that are good stewards of their financial affairs since keeping a great credit score, a low debt load, and plenty of assets will help them get approved for the best low-rate mortgage loan when it comes time to refinance or ...

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how-much-you-spend-on-interest-payments

How much will you spend on interest payments in your lifetime? This number will shock you!

How much interest will you pay over the course of your lifetime? If you add up all the interest the average person spends on mortgage payments, car loans, and credit cards, the aggregate number is pretty starting: $279,000.

That’s the amount of total dollars spent (or wasted, depending on how you look at it), over a consumer’s lifetime when you factor in the typical use of debt, loans, and finances. But that number could easily jump higher for some consumers, or ...

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