Credit

If you’re daydreaming about a flashy — or even just functional — new car, you are probably also daydreaming about not having to pay for it. Maybe you could win a car from Oprah, or on “The Price is Right.” Or maybe you could at least get a gently-used hand-me-down from a... Continue reading »

Your credit score can make a huge difference in your finances, even if you aren’t about to buy a house. A good score can save hundreds of dollars on your auto insurance premiums, credit card interest rates and auto loan, in addition to your mortgage. A bad score can make it... Continue reading »

That may be a big payment you’re making every month, but at least it’s not going to rent anymore. It’s going towards your home, right?   Well, not exactly. While it’s true that your mortgage payment is the payment on your home loan, this payment is actually made up of... Continue reading »

Your phone won’t stop ringing and you’re having nightmares about the nasally voice of the debt collector. You want to discuss charges you’re seeing on a loan that you have no memory of agreeing to, but the customer service agents just put you on hold until you hang up. Or you... Continue reading »

The unexpected car repair. The phone bill for texting a little (or a lot) more than you thought you did. The rent that came due before you were ready. We’ve all experienced a financial moment or two we weren’t prepared for and had to think about our options.   One option... Continue reading »

FICO is a publicly-traded corporation that created the most widely used credit score model in the United States.   FICO scores are calculated statistically using information from a consumer's credit files. It provides a snapshot of risk that banks and other... Continue reading »

Establishing a financial record is important for a number of reasons, but in particular, it shows all those who need or want to know (e.g. a future landlord or a mortgage lender), how well you manage money and how large a financial risk you may be.   Most lenders... Continue reading »

A home equity line of credit provides a way for you to use your home’s value to pay for other things, and it can be a great alternative to other kinds of loans or making major purchases on credit cards. Of course, since a home equity line of credit is borrowed against your... Continue reading »