Credit

Understanding how credit works can help you reach your dreams. Learn more here.

Establishing Credit When You Don’t Have Any

July 22, 2010 - Erika C. - 0 comments

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 »

The Pros and Cons of Home Equity Lines of Credit

July 6, 2010 - Kristin - 0 comments

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 »

Budgetball on the Mall: Recap

June 29, 2010 - Erika C. - 2 comments

For those of you who missed my previous blog on Budgetball: here’s a recap. On May 21, my organization participated in the Second Annual Budgetball Tournament on the Mall, sponsored by the National Academy of Public Administration. Budgetball is an innovative sport that... Continue reading »

Comparing Home Equity Loans and Home Equity Lines of Credit

June 15, 2010 - Kristin - 0 comments

Borrowing against the value of your home can be a great way to gain access to extra money with relatively reasonable terms, and both home equity loans and home equity lines of credit offer this benefit.   But home equity loans and home equity lines of credit are not just... Continue reading »

Variable Interest vs. Fixed Interest

June 10, 2010 - Erika C. - 0 comments

A credit card with a variable interest rate or variable APR will change as the prime rate goes up or down. The prime rate changes as the federal funds rate changes, which are set every quarter by the Federal Reserve. The federal funds rate is the interest rate at which banks... Continue reading »

Which Debt Should You Pay Off First?

April 28, 2010 - Kristin - 2 comments

We’d all like to be debt-free, but for most of us that would take a very long time and a lot of discipline. But even while we continue to diligently pay the bills each month, we can change the way we pay off each of our different debts to get closer to living the debt-free... Continue reading »

Help for Homeowners

April 10, 2010 - Kristin - 1 comment

For many of us, owning a home can be a dream come true — and being at risk of losing a home can be a nightmare. But if you find yourself struggling to make mortgage payments for any reason, the worst thing you can do is go back to sleep and ignore the problem.   Your... Continue reading »

Before You Sign: How do You Look as a Borrower?

April 5, 2010 - Kristin - 0 comments

As much as we might like to, we can’t just head to the nearest bank with a loan figure in mind and come out with rolls of cash. Who’s to say what kind of trouble we would get into with no plan for repaying a loan?   And that’s exactly what lenders want to determine when... Continue reading »