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Money

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We’re all pulling for the housing market to recover. Most of us want to live the American dream, and part of that dream is having a piece of land and a home of your own. As much as we’d like to be optimistic about the prospects of the housing market, it’s more important than ever to be realistic. Like it or not, the reality is that the housing market isn’t going to recover anytime soon.…

When you are considering whether or not your credit score is ‘good enough’, you need to take into account the changes in the financial industry that have recently taken place. Since the near-collapse of the housing market and the changes in the credit card industry, lenders and creditors are a lot more careful about their risks when passing out money. This article is appropriate advice for credit scores of 709, 708, 707, and 706. Changes…

Maintaining a credit score of 700 is a good starting place but you must consistently do what is necessary to ensure your credit score does not drop lower but rather gets better over time. There is certainly no quick and easy fix to improving credit scores or recovering from past mistakes. It takes time and effort on behalf of the consumer to make sure credit histories are stable and credit scores stay high. 710 Credit…

There are different types of credit scoring models used by lenders. The credit score helps a lender predict how likely it is that an individual will repay the money they borrow. Whether or not a 670 score is considered “good” will depend on the lender and the type of score being used to assess an individual’s risk level. The FICO credit scoring model is the most commonly used by lenders. The score is used to…

Of all home mortgage products, an FHA loan is one of the easiest to qualify for. FHA loans are more flexible than other home loans, require less than 5% down payment, and help many people qualify for mortgages who could not otherwise qualify. The loan requirements involve showing your ability to pay for the FHA mortgage, and having at least the minimum credit score needed for an FHA loan. General FHA Loan Qualification Requirements The…

Your credit score is a three-digit number which has a significant impact on all areas of your financial life. This number will determine whether or not you are approved for a loan, mortgage, lines of credit and credit card accounts. Lenders look at your credit score to gauge their risk level when considering a request for credit. The higher your score, the higher your chances of becoming a borrower. Your credit score will also affect…

A credit core of 750 is considered a great credit score by all lenders. The majority of lenders rely on the FICO credit scoring model when determining whether or not to extend credit to an individual. If you have a credit score of 750 or higher, you will get approved for almost any financing you apply for and receive the best interest rates available. Earning a 750 credit score is not easy, and lenders realize…

Young adults in America are currently saving more money than before based on recent information provided by financial institutions like America Saves. However, almost half of young adults that range from the ages of 18 to 35 are not saving money. This urgent issue must be addressed since the earliest that a person starts to save money, the better quality of life he or she will have later in life. It’s never too late to…

Young adults who are just out of college or a few years into their careers are in an ideal position to secure a solid financial future. This article lists five specific steps that any young professional should take before age 30, when he or she still has relatively few obligations and can set up a solid plan for meeting his or her long-term goals. As a young professional, you probably have certain long-term goals in…

Home sweet home – buying a home is a dream for everybody and you are no different. If you still stay in a rented house, you must think about having your own home. Buy your own home and make your dream true. Why should you buy a home? First of all, buying a home is the wisest investment of your life. Staying in a rented house denotes that you are spending hundreds of dollars every…

New research from the Principal Financial Well-Being Index shows that the economy is the greatest source of stress for Americans, followed by their personal finances, job and health. According to the 52 percent of retirees and 42 percent of workers, the cause of a high stress level is the economy, while according to the rest 30 percent of retirees and 34 percent of workers, personal finances is the cause of the stress. On the recent…

When it comes out that a celebrity has money problems, we tend to show disbelief. After all, how can someone who makes so much money end up in such bad circumstances? It doesn’t make sense to us regular joes that it is possible to spend so much, so quickly. However, income alone doesn’t determine how successful you are in terms of finances. If you don’t carefully manage your money, you can end up overrunning your…

It’s hard to pinpoint who has the highest credit limit in the world when there are some people who use cards that essentially have no credit limit. There are credit cards out there so exclusive, and so prestigious, used by the rich and powerful, that there isn’t a formalized limit to what they can spend on the card. As long as the bills are paid, the users of these cards can pretty much charge whatever…

If you need to talk to a banking customer service representative please call the two phone numbers below. They are the two main customer phone numbers for Bank of America. If you’re looking for the home loan line, please scroll down. Customer Service Phone Number:  1.800.432.1000 Talk to a Human Quickly: Say “Talk to an associate” – I had to say it 3 Times, Say it Until You Reach these Options: Say or Press the…

Major financial institutions often employ traders to involve themselves in buying and selling on global markets. These traders make decisions on behalf of the financial institutions, as well as on behalf of clients. These traders can make a lot of money – but sometimes they go rogue as mistakes prompt them to hide losses and make big gambles in an attempt to turn the tide. The hope is that one big payoff can erase years…

In the current climate, one of the popular options for buying a home is to buy a foreclosure. Foreclosures can provide you with a great deal. They are often below market price for comparable homes, and you can buy one as your main residence, or as an investment property. Before you get too excited about purchasing a foreclosure, though, you need to carefully consider your what you are doing. Not all foreclosures offer the same…

One of the most depressing things about credit cards is the interest rates that you are charged. The interest rate you pay can make it harder to pay down debt and obtain financial freedom. If you are looking for a bit of a break, you can call your credit card companies and negotiate a lower interest rate. This will help you put more of your payment each month toward the principal, helping you achieve financial freedom.…

I’ve been meaning to refinance our home for a long time. However, we’ve held off because we weren’t sure where we’d end up, what with my husband finishing school. He’s teaching for two local universities right now, and there is a good chance that we will, in fact, be here for a while. Which means that I am very interested in refinancing our loan. Especially now that the national average for a 30-year mortgage has…

Consumers have learned the importance of knowing their credit history and credit score. Those who do not pay attention to this important aspect of personal finance are often shocked to discover their credit may not be as “good” as they believed. Because there are so many variations in how scores are calculated and the number of scores available, many consumers decide it is easier to pay for a credit score monitoring service than try to…

Do you know how money works? One of the reasons that many people have a hard time getting ahead is due to the fact that they really don’t know how money works. When you don’t understand money, it can be too easy to fall into the debt trap, or to miss out on opportunities to make a little more money. It’s in your best interest to learn personal finance lessons, and do what you can to…