When you first get a credit card, your credit line (also called a credit limit) may not be as high as youd like. After youve had the new credit card for a while, you may be able to request a credit limit increase. Hey there, fam! Ever found yourself starin’ at your credit card statement, … Read more
Mortgage lenders consider factors like a strong credit report, steady income and employment, a savings buffer, an adequate down payment and the ideal loan type. Youve found your dream home and youre ready to make whats probably the biggest purchase of your life. While a lucky few can pay for a home with cash, most … Read more
Defaulting on a 401k loan can have serious financial consequences. When you borrow from your 401k, you are taking money out of your retirement savings. Failure to repay that loan triggers tax penalties and can greatly impact your retirement security. This article will explain what happens when you default on a 401k loan and how … Read more
The best way to help build your childs credit is to show them the ropes at an early age. Whether theyre in elementary school or getting ready to leave the nest, learning these skills before adulthood can help them establish strong credit and shore up their financial future when theyre ready. There are some simple … Read more
Paying off debt while also saving for retirement can be a tricky balancing act. On one hand getting rid of high-interest debt like credit cards should be a priority to stop extra fees and interest charges from piling up. On the other hand, consistently contributing to your 401k is crucial to grow your nest egg … Read more
A credit card can be a great way to break large purchases into smaller, more manageable payments. However, carrying a credit card balance from month to month isnt generally the smartest option. Paying off debt is usually seen as a positive financial move. However, some people worry that paying off an installment loan like a … Read more
How Long Does FHA Underwriting Take in 2021? What You Need To Know Getting approved for an FHA loan can be a lengthy process, with underwriting often being one of the longest steps. As a potential homebuyer in 2021, you’re probably wondering – how long does FHA underwriting take? The underwriting process is when the … Read more
Retirement is something most people dream of — and part of that dream is debt-free living. But what if you’re headed into retirement with a mortgage? If you are, you’re certainly not alone. GOBankingRates spoke with financial experts to get the low-down on whether or not you can — or should — retire with a … Read more
The types of bills that affect your credit scores are those that are reported to the national credit bureaus. This includes consumer debts and unpaid bills turned over to collections. If you use Experian Boost, eligible recurring payments could also help credit scores based on your Experian credit report. A bill only affects credit scores … Read more
Cashing checks is a common way for people to access funds quickly and conveniently. However, many wonder if cashing checks leaves a paper trail that gets reported to the IRS. So do banks report cashed checks to the IRS? The short answer is – it depends on the amount. Banks are required to report cash … Read more