financial education
An illustration in reference to the percentage of interest on a home loan

Can the Loan Quality Initiative Hurt You?

The Fannie Mae Loan Quality Initiative The Loan Quality Initiative is a mortgage loan quality control measure enacted to cut down on Fannie Mae foreclosures. In most cases the Fannie Mae Loan Quality Initiative requires lenders to pull a borrower’s credit report a second time at closing. If the borrower has applied for credit since
Romney

Romney says half of Americans are victims

I am writing this seven weeks to the day before the nation goes to the polls to decide between the incumbent and the challenger for the office of President of the United States. At this, the nth hour juncture in the campaign, Mitt Romney — the challenger — has made some of his greatest verbal
This, says Rep. Ed Orcutt, is threat to lungs everywhere.

Wash. Rep. Ed Orcutt supports bicycle tax for heavy-breathers

As a way to generate revenue for highways, Washington state Rep. Ed Orcutt (R) supports charging a bicycle tax because, he says, cyclists pollute the air with their heavy breathing! Since, he has apologized for his bad science. Rep. Ed Orcutt supported bicycle tax Orcutt, a ranking member of the State Transportation Committee, supports a
Paperwork

How to dispute items on your credit report

In many everyday financial situations, your credit report is your reputation, on paper. When an item that may not be accurate appears on your credit report, disputing the item on your report is important. Write it up The first step of disputing items on your credit report is to put your dispute in writing. Gather
The FICO logo.

Separating the FICO from the FAKO

According to the Consumer Financial Protection Bureau, 1 in 5 people who apply for their credit report receive a credit score that is radically different than their actual score. As there are 49 different FICO scores to determine your credit risk – and lenders may see any one of them, depending upon the type of
my FICO Score - according to TransUnion and WaMu - budget busters

Budget Busters – What the Heck is That?

Ruin Your Credit with These Habits… Commercialism is everywhere, and one can’t seem to survive without being expected to run up credit card debt. It’s the “gotta have it now” syndrome, and it is ruining your health. Think you are immune to this syndrome? Let me ask you: do you have at least one credit
Checks

Walmart expanding check-cashing business

For years, Walmart has very limited check cashing services to customers. On Monday, the company announced it would cash practically all pre-printed checks for 2 to 4 percent of the face value. Despite this and other major retailers making similar moves, in-store check cashing is still an expensive and in-demand service. Walmart’s check cashing business
Mortgage rates

Mortgage rates reach record lows — again

Mortgage rates in the U.S. tumbled to record lows for the second week in a row. Freddie Mac says the new lows are the result of the economy growing at a much slower pace than many anticipated. Nearly all rates record low According to Freddie Mac’s weekly Primary Mortgage Market Survey, 30-year fixed rate mortgages
Warren Buffett

Most Americans say Buffett Rule is fair

The so-called “Buffett Rule,” which states that all millionaires and billionaires should be required to pay at least 30 percent income tax, is currently being debated by the Senate. But a new poll shows that most Americans agree with Warren Buffett. Nearly all groups favor rule The study, conducted by CNN, found that 72 percent
H&R Block

H&R Block filing glitch delays 600,000 federal tax returns

More than 600,000 taxpayers using H&R Block could see lengthy delays in the procession of their tax returns, due to a filing error. Most of those affected are college students. The delay could affect the applications for federal financial aid for many. H&R Block blunder involves education credits The delay has to do with those
Travel

More Americans travel despite higher costs

In spite of higher prices and the sluggish economy, more Americans are choosing to travel this Thanksgiving holiday than have in previous years. The Automobile Association of America estimates 42.5 million Americans this year will travel by road, rail or air to visit loved ones. That is the highest number since the Great Recession began
One year's worth of Chase Bank solicitations.

Chase Slate – A great credit card for balance transfers

Are you carrying a balance on one or more credit cards that bear an unfavorable interest rate? Perhaps it’s time for a balance transfer, if you can’t simply pay it off altogether. With promotional financing, many credit cards enable you to drastically lower or completely eliminate interest accrual over the promotional period, typically ranging from
Israeli Pancake Mix - convenience foods

Convenience Foods—Thrifty or Spendy?

The Lure of Convenience Foods Ever wonder how you can rack up such a huge credit card debt so fast? Many people tend to use their credit cards at grocery stores, mostly buying convenience foods. Why the lure of these items? Why is it that people would rather spend money on pre-made convenience foods that
Overcoming Harships

Life Costing You Too Much Money – Overcoming Hardships

Overcoming hardships can affect you emotionally and monetarily. The recession was hard on us all and many had to drastically change our ways of life to manage. On top of the financial situation, some of us suffered other hardships to make matters even worse. For anyone who had difficulties personally and financially, it was a
dinosaur shoe tax

Tariffs inflating the cost of shoes for kids

Shoes are a necessity, especially for working parents with children who seem to grow out of them on a weekly basis. Yet, import tariffs are jacking up the prices of nearly all U.S.-sold shoes, cutting into the fixed budgets of people who can afford it the least. Cheaper materials taxed more The so-called “shoe tax”
previously occupied home

May used home contracts match 2 year high

There seems little doubt that the housing market is gaining ground, even as the job market continues to stumble. The National Association of Realtors said Wednesday that the number of contracts signed to buy previously occupied homes in May matched the two-year high seen in March. Matches March 2-year high The NAR said its Pending
Dave Camp

IRS over-taxed to juggle healthcare, GOP says

The Supreme Court’s decision last month to uphold nearly all of the Obama Administration’s Affordable Health Care Act will task the Internal Revenue Service beyond its normal duties of tax collection. Starting in 2014, it will be responsible for collecting proofs of insurance, as well as penalizing those who choose not to acquire it. Largest