Buying a home is an exciting yet complex process involving many steps, from getting pre-approved to signing the final paperwork at closing. One important piece of this puzzle is providing your bank statements to the mortgage lender. But how closely do underwriters inspect these statements, and when? Will the underwriter take another look right before … Read more
For many, this economic situation means that it is difficult to make ends meet. Between inflation and the high cost of living, what should you do when you need a short-term means of getting cash? Some people turn to payday loans, finding the process fast and easy; however, payday loans are carefully designed to drag … Read more
In short, no, it isn’t bad to have a zero balance on your credit card. Or, put another way, yes, it’s okay to have no balance on your credit card; it can even help your credit score. After all, lenders like to see responsible borrowers, and if you have a credit card with zero balance … Read more
Financing your house with a mortgage probably means you just signed up to repay hundreds of thousands of dollars. For this reason, lenders wont lend to just any borrower. Before giving you the green light, a lender will likely take a close look at your finances, including your credit score. Find out what credit score … Read more
Your credit score is based on the information in your credit report, which may include information about your payment history, how much credit you use, the types of credit you have, and more. Credit scores are important because they are designed to indicate your credit risk, or how likely you are to pay your bills … Read more
Due to holidays and other events, the first few SSI payments of 2025 will not happen on time. The products shown on this page are mostly or entirely from our advertising partners. They pay us when you click on one of their links and then do something on our site. However, this does not influence … Read more
Its common for lenders to sell home loans to another company, including Freddie Mac. This practice allows lenders to make more home loans. If you received a letter titled “Borrower Notification: Freddie Mac Has Purchased Your Mortgage Loan,” don’t be alarmed. The letter is for informational purposes only, and you do not need to take … Read more
Are you self-employed? Maybe you work as a freelancer for several clients. In order to get a mortgage, you may need to use a bank statement loan, which is a type of loan for people who don’t have steady jobs that pay a salary. You’ll have to meet certain mortgage qualifications when you apply for … Read more
When life throws you a curveball and your credit card debt goes unpaid, it begs the question – what happens to unpaid credit card debt after 7 years?. Although the unpaid debt will go on your credit report and have a negative impact on your score, the good news is that it won’t last forever. … Read more
If you knowingly report inaccurate data on a credit application, you’re committing fraud. And while a credit card issuer might not immediately request verification, legally its possible. Many or all of the products on this page come from partners who pay us when you click on their links or do something on their websites. This … Read more
