Gaining a new mortgage to substitute the first loan is what a refinancing of mortgage means. Refinancing is made to let a borrower a more favorable interest term and rate. The first loan is paid off, enabling the second loan to be performed rather than just making another mortgage and thrusting out the original mortgage. For borrowers with excellent credit…
Equifax data breach: what it means, and what you should do about it Hackers recently breached the database of credit giant Equifax Social Security numbers, dates of birth, addresses and other non-public personal information stored in the company’s database has been stolen. The thieves also managed to get credit card information for 209,000 cardholders. Equifax discovered the breach on…
Buying a Home with Bad Credit “I have terrible credit, so I can’t purchase a house.” This is a common complaint among would-be homeowners. If they don’t say it, they think it—and continue paying rent without considering whether their assumption is true. Buying a home with bad credit can be challenging. Many people think that being 30 days late on a…