Buying a car can feel stressful enough, but when you have been through bankruptcy it may feel downright terrifying. No matter what the circumstances that led to your filing — large medical bills or a job loss, for example — you probably feel embarrassed and afraid that no one’s going to want to give you the time of day, much less a decent loan.
Payday lenders would face a new set of restrictions under rules being proposed Thursday by the Consumer Financial Protection Bureau. The rules include requirements that lenders ensure borrowers have the ability to repay the loans, and limits to the number of times consumers can renew the loans. The proposal covers a wide set of short-term, high-cost lending products, including title loans. President Obama is expected to call for stronger payday loan rules in a speech on Thursday.
Let’s cut to the chase. Obtaining a mortgage to buy a home, or to refinance one you already own, is not cheap. No two ways about it, acquiring property is going to cost you some bucks. However, knowing ahead of time what fees lenders charge — including both upfront and later in the transaction — can help ensure you’re getting a fair and competitive loan offer.
Becoming a homeowner is more than a big decision — it’s a journey. And just like you wouldn’t leave for a trip without making sure you’ve packed all your bags, you shouldn’t embark on the road to homeownership without preparing for the possible twists and turns ahead.
If you’ve reviewed your credit reports recently you’ve no doubt seen many dates — many, many dates. Some are more important than others. And some are absolutely critical. A Credit.com reader asks:
What’s the difference between Date Opened, Date Reported, Date of Last Payment, etc.?
If you check your credit scores regularly — and experts recommend you do — it can be a little scary to hear that credit inquiries can damage your credit. That’s a little like telling someone who is trying to improve their physical health that stepping up on the scale carries health risks. (And that’s not just because you might have a heart attack if you see that number.) There’s information that could be useful, but the consequences make you wonder if it’s worth it.
A close friend recently asked me for advice about reviewing her credit reports and credit scores. A few years ago, when she got a mortgage, her scores were very good — in the 800s — but she has since had a run-in with a department store card that she fears may have had a negative impact on her credit. So it’s smart for her to find out what’s going on.
Deciding where to live can be hard. You are probably thinking about proximity to work, to family, friends or significant others, as well as food options, climate, travel accessibility, crime rate, education, culture and of course — affordability. We all know that living within our means is important to maintaining good financial health, but figuring how to do that is not easy.
Today the three major credit reporting agencies — Equifax, Experian and TransUnion — agreed to a settlement with the New York Attorney General’s office to overhaul the national credit reporting process to better serve Americans. The agreement includes changes to the credit report dispute process, how some negative information can appear on credit reports and oversight of the creditors that provide the information included on credit reports.
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