The current high inflation rate in the US has led to steadily increasing home mortgage rates, from around 3% in 2021 up to 7% in July 2023. There are different reasons to refinance a mortgage, but many people who are buying a home are planning to do so when interest rates on their mortgages drop … Read more
If you’ve ever been uninsured, under-insured, or had a high co-pay that you couldn’t afford, you may be faced with some medical debt. But what happens if you just don’t pay it? Does it ever go away?. These are all good questions. The short answer is that medical debt may disappear from your credit report … Read more
Some business lines, like rent, may show up on your credit report if your landlord or service provider tells the credit bureaus about your payments. This reporting is not mandatory, but some financial apps can help you report rental payments and other bills to credit bureaus, which can help you build credit if you make … Read more
Credit scores can influence some of your financial opportunities. Fortunately, you can find ways to improve your score. Credit scores can be confusing, especially when you don’t have debt. You might think that having no debt means you have good credit, but that’s not true. Credit score models influence your credit score, and debt is … Read more
There’s a lot to think about when buying a home between getting funding for a down payment and closing costs, making the winning offer, and gathering documents to give the lender. It’s important not to overlook your credit score. Lenders look at your history to determine the likelihood you’ll be able to handle your payments. … Read more
Capital gains tax may be due if you sell a home whose value has gone up. This is because the home is a capital asset. However, thanks to the Taxpayer Relief Act of 1997, most homeowners are exempt from needing to pay it. If youre single, you will pay no capital gains tax on the … Read more
Financing a cellphone with a carrier generally wonât help your credit. However, if you financed the phone with a loan or credit card, including one from a cellphone maker or big box store, that could help your credit if you make your payments on time. You might be able to improve your credit score by … Read more
The purpose of this content is to teach, and it may include details about products, features, or services that can only be bought through SoFi’s partners. Banks, credit unions, and private lenders may be willing to finance a 10-year-old car, but it can require some time and effort to find the right fit. Auto loan … Read more
No homebuyer wants to hear the words, “Mortgage loan denied in underwriting. ” The good news? A denial doesn’t have to be the end of the road for obtaining a mortgage. By understanding the warning signs your mortgage will be denied, you can take the right steps to get your homebuying journey back on track. … Read more
The American Express Centurion Card, more commonly known as the “Black Card,” is one of the most exclusive and prestigious cards in the world. It’s shrouded in mystery and intrigue, catering to the ultra-wealthy who live luxurious lifestyles. But just how rich do you need to be to get the Amex Black Card? What is … Read more