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…
Does the Fed set mortgage rates? Simple answer: no. The Fed Open Market Committee (FOMC) met this week to decide what they would do with the Federal Funds Rate. This is the rate at which banks and credit unions lend money to each other overnight, from their reserve balances. The Federal Reserve influences the rate at which they lend this money…
Buy Real Estate with Bitcoins? In Dubai, you can. British entrepreneurs and real estate developers Michelle Mone and Doug Barrowman have begun offering units in their 2.4 million square foot buildings in Dubai…for Bitcoins. A studio apartment will go initially for the low, low promotional price of 30 BTC, while the more spacious 1-bedroom units will bring 50 BTC. The…
60 Seconds to Understand Life Insurance Life Insurance 101 The purpose of life insurance is to give a degree of financial security to your loved ones once you pass away. Before purchasing life insurance, take time to reflect on your financial circumstances and the standard of living you hope to maintain for the beneficiaries. When you purchase life insurance, you will…
Natural disasters bring out the scammers For every natural disaster, such as the devastation caused by Hurricane Harvey, there are hundreds of scammers emerging from under their damp rocks, seeking to profit from the misery of others. Here are some of the most commons scams, and how to avoid falling prey to them: Fake rental listings At this writing,…
Buying a Home with Your 401(k) A common question that we receive from clients is, “can I make use of my 401(k) to buy a new home?” This is a common question you get from people who have a 401(k) account and are seeking to get a new home. Before we go deep into whether you can use your…
Watch Out for Fake Home Ads With ever-rising rents, scammers are targeting desperate would-be renters through the popular classified ad website, Craigslist. It is important to watch out for fake home ads more than ever. Variations of scam with a goal to separate unsuspecting people from their money. Here are a few of the most common: Credit report scam…
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…
Mortgages are About to Get a Little Easier A change in FICO score reporting and loosening of lender qualifying standards are about to open for many hopeful home buyers. It’s no secret that a low credit score can keep a would-be borrower from qualifying for a home loan. Lenders look first to that critical three-digit number to decide whether to…
Ski Condo or Mountain House? There’s not much difference between a ski home and a normal vacation escape except for the mountain location. Ski properties are near or on mountains, such as Vail, Aspen, or Breckenridge, and normally have resorts. The decision between buying a ski condo or mountain house is where things become a little more complicated. With ski…
