Key takeaways Construction loans are short-term loans that you can use to build a home. Some construction loans can be converted to mortgages after your home is finished. Construction loans typically have tougher criteria and higher interest rates than conventional mortgages for existing homes. If you can’t find the right…
An annuity can provide you with a steady stream of income, ensuring that you have money when you need it. That’s why many people turn to annuities during retirement, to be sure that they have cash flow when they’re no longer working. If you’re looking to buy an annuity, you’ll…
Key takeaways Zombie debt refers to old or expired debts you’ve either forgotten about or never knew about that debt collectors try to resurrect and collect. The most common types of zombie debt include discharged or settled debts, time-barred debt (debt that is past the statute of limitations for collecting),…
Key takeaways If you file for Chapter 7 bankruptcy, you may be able to keep your home, especially if you have a relatively low amount of equity. If you file for Chapter 13 bankruptcy, you’re more likely to keep your home, provided you can make any missed payments along with…
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Washington is abuzz over whether Congress will address President-elect Donald Trump’s ambitious policy agenda in one bill or two. But…
TomoCredit, a five-year-old San Francisco startup that claims it boosts consumers’ credit scores, is facing a growing number of problems,…
Millions of student loan borrowers face an uncertain future as a second Trump administration prepares to return to Washington. But…
The 2024 presidential election has ended, and Donald Trump is poised to retake the White House, with big implications for…
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It was a close call for a dog named Max when fire raged through his Altadena neighborhood. The brindle-coated Corso mix hid, huddled and scared, under some bushes in his yard as the Eaton fire ravaged his street. Firefighters and photojournalists in the area could…
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Key takeaways Credit repair is a term used to describe the process of restoring your credit rating. You can hire a credit repair…
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Thanks to more than a decade of Dodd-Frank and Basel III regulations, the Trump administration inherits a well-capitalized and liquid banking system. Squandering…
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Key takeaways The Southwest Companion Pass is attainable by using Southwest credit card welcome bonuses to meet the 135,000-point requirement. Applying for a…
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Key takeaways Personal loan amounts vary by lender, but some lenders allow consumers to borrow up to $100,000. The amount a lender may approve you to borrow will depend on various factors, such as your credit score, income and debt-to-income ratio (DTI). Review your budget before applying for a loan…
Trading options after hours can seem like an appealing strategy. Instead of limiting yourself to trading while the markets are open, trading options after hours would allow you to place orders around the clock. Despite the appeal, trading outside regular market hours generally isn’t possible. However, there are a few…
This year, after watching Hurricane Helene tear through Asheville, Black Mountain and other towns close to where I call home, I made a commitment to getting my Christmas gifts locally. Not only did I want to support small businesses grappling with reduced tourism and damage from the storm, but I…
Americans have amassed $450 billion for educational expenses in 529 plans as of August 2024, according to the Education Data Initiative. That amounts to around an average of $27,741 for the estimated 16 million families participating in 529 plans. With so much money on the table and college costs ever…
irina88w/GettyImages; Illustration by Hunter Newton/Bankrate In an environment where inflation is stubborn and economic growth is strong, there’s just not much to push long-term interest rates materially lower. — Greg McBride, Bankrate Chief Financial Analyst Mortgage rate predictions January 2025 Mortgage rates shouldn’t change significantly this month from where they…
Images by Getty Images; illustration by Jessa Lizama/Bankrate When you file your federal income tax return, you have a choice to make: claim the standard deduction or itemize your deductions. The standard deduction is a dollar amount set by the IRS, while itemizing your deductions means you add up your…
Key takeaways The Petal® 2 “Cash Back, No Fees” Visa® Credit Card is an attractive option as a credit-building card thanks to perks like no late or returned payment fees, budgeting tools and a dedicated pathway for increasing your credit line. Cardholders also appreciate the ability to increase the card’s…
Key takeaways Selling a home with a mortgage is common and generally not a problem. However, it can become problematic if the homeowner owes more on their mortgage than the home is worth. When selling a home with a mortgage, the seller must settle the outstanding loan balance during the…
kate_sept2004/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways A personal loan is money you can borrow in a lump sum with a fixed payment to finance large purchases, consolidate debt, invest in yourself or cover emergency expenses. Interest rates, monthly payments and repayment terms vary based on creditworthiness, income and other…
Key takeaways Financial consultants can help you develop a financial plan for retirement, estate planning, tax strategies and debt management. Financial consultants are similar to financial advisors and the two terms are often synonymous. You might need a financial consultant if you have a high net worth or complex finances.…
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