Paying down the principal on your mortgage faster can save you thousands of dollars in interest and help you pay off your home loan years earlier. However, making extra principal payments does not directly reduce your monthly mortgage payment amount unless you recast the loan. How Monthly Mortgage Payments Work When you take out a … Read more
Having a strong credit history is important for getting approved for loans and credit cards with the best terms. But how many years of credit history do you really need to have good credit? Is 5 years enough? The length of your credit history is one factor that affects your credit scores. Generally, the longer … Read more
Can I Get an FHA Loan If I Have Late Payments? If you have late payments on your credit report, it may be hard to get a mortgage. They will be seen as red flags by many lenders, even if your credit score is good otherwise. However, if you want an FHA loan, you might … Read more
When applying for credit cards or loans, lenders will check your credit reports to determine your creditworthiness This involves accessing your credit information from one or more of the three major credit bureaus – Experian, Equifax, and TransUnion So which bureau does Old Navy use when you apply for their credit card? Let’s find out. … Read more
Many people use Credit Karma to check their credit score and see if there are any issues. It has over 100 million members in the US. These days, more and more people use free websites and apps to check their credit. This makes us wonder if Credit Karma really gives you accurate and useful information, … Read more
Having debt can be stressful and overwhelming. If you’ve fallen behind on payments or have debts you can no longer afford to pay back, you may be wondering if it’s possible to write them off and get a fresh start. Writing off debt is not always easy, but in some cases, it may be an … Read more
Hybrid adjustable-rate mortgages (ARMs) have become an increasingly popular option for homebuyers in recent years. With their unique structure combining fixed and adjustable interest rates hybrid ARMs offer both predictability and flexibility. But how exactly do they work? In this comprehensive guide we’ll demystify hybrid ARMs, explaining their key features, pros and cons, and help … Read more
Your credit score is one of the most important numbers in your financial life. It tells lenders quickly how creditworthy you are and can affect whether you get credit and the interest rates you pay. What does a 637 credit score mean, and how can you raise it? This article will tell you everything you … Read more
Determining and writing off bad debts is an inevitable part of running a business that offers credit to customers. While unpleasant, properly accounting for bad debts is crucial for accurate financial reporting and tax compliance. In this comprehensive guide we’ll walk through the key steps involved in identifying calculating, and recording bad debt write-offs. What … Read more
Your credit report contains highly sensitive information that can impact your finances and life opportunities That’s why it’s crucial to understand who can access this data and under what circumstances Unauthorized credit checks unfortunately do occur, often leaving consumers wondering – can someone run your credit report without you knowing? The short answer is yes … Read more