Many homeowners have wondered at some point if they can pay their mortgage from a savings account, especially when their checking account balance is running low near the due date. It’s an understandable question since we’re used to paying other bills directly from our savings But mortgages tend to work a little differently. Your short … Read more
Understanding what you can—and should—use helps to build better credit scores and keep you from maxing out People who have used credit cards or lines of credit before know that they can only borrow a certain amount of money. But what is it exactly? A credit limit is the maximum amount of money a lender … Read more
Imagine waking up to a world where the U. S. dollar (USD), the bedrock of global finance, has collapsed. This scenario may seem far-fetched, but its a narrative often found on dubious platforms pushing gold, crypto, and extremist political views, and it occasionally creeps into mainstream discourse. The greenback has always had its external foes … Read more
Your credit score is one of the best ways to tell how healthy your finances are, and lenders use it to decide if you can get loans, how much interest you can pay, and other things. The FICO score, the most widely used credit score, ranges from 300 to 850, and many people view a … Read more
Personal loans are a common way for people to get access to cash quickly. But how exactly do personal loans work when it comes to getting the money? The short answer is that yes, personal loan funds do go directly into your bank account in most cases How Personal Loans Work When you take out … Read more
Buying a second house when you already own one isn’t something FHA loans typically allow, but there can be 2nd FHA loan exceptions. At the Wendy Thompson Lending Team, we can help you get a second FHA loan as a second-time homebuyer. Here’s what you must know. Hey there, second-time homebuyers in Tennessee and Mississippi! … Read more
Balloon financing means reducing your monthly car payments now, but making a large “balloon payment” at the very end of the loan. After that, you can break out the balloons and celebrate. Using a balloon payment for your car has some advantages, but not all vehicles qualify, and that final payment can be rough. Leasing … Read more
When you’re barely scraping by month-to-month, getting out of debt can seem like a lost cause. When traditional debt reduction techniques (like the snowball and avalanche methods) aren’t working with your current paycheck, it can feel like you’re headed for a financial natural disaster. This doesn’t have to be the case. Break the cycle with … Read more
Becoming an authorized user on someone elseâs credit card can help you build credit. In order to build a good credit score, the primary account owner needs to have a good credit score and responsibly manage the account. Becoming an authorized user on someone elses credit card account can be a great way to establish … Read more
“Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. The advice in this article is offered by the team independent of any bank or credit card … Read more
