Posting Consumer Complaints About Credit Card Companies Increases Consumer Satisfaction With Bank

An interesting academic paper out which studies Consumer Financial Protection (CFPB) complaint reporting found the reporting assisted both consumers and the credit card companies. The investigation looked at the results of public reporting of complaints and found “Consumers procrastinate in reporting exposed banks while rewarding exposed banks for their improved behavior with new accounts.” Most … Read more

How Can I Eliminate My Mortgage But Keep My House? – Laverne

Question: Dear Steve, Is there away I can get my Mortgage debt relieved? I’m unemployed and six months behind on my mortgage and I would like to keep my house. Laverne Answer: Dear Laverne, Not really. Let’s say that you somehow managed to have the mortgage debt eliminated, that does not remove the lien against … Read more

How Can We Get a Big Enough Mortgage to Pay Everything Off?

Question: Dear Steve, We owe $495k on first mortgage, $168 on 2nd. Paying at over 6% on first now. Also unsecured debt of around $100k. And we have a Rex agreement. House worth over $2 million, so there’s equity. DTI was good enough to start process, but FICO was 663, so process has dragged 6 … Read more

4 Non-Banks Where You Can Get a Mortgage

Getting a home loan doesn’t require a trip to the bank. In fact, 37.5% of mortgages originated in 2014 came from non-bank lenders, according to Inside Mortgage Finance. That share has grown significantly in the last few years, but it’s not a new concept. Non-bank lending declined dramatically during the mortgage crisis, but the current … Read more

Can I Get a Seller to Pay My Closing Costs?

Closing costs are one of the most confusing and misunderstood parts of the homebuying journey. About a third of prospective buyers feel “not very” or “not at all” aware of them, according to a recent survey from real estate data and technology firm ClosingCorp. That can be a problem for buyers who jump into the homebuying … Read more

4 Reasons You Could Be Denied a Mortgage

So, you’ve thought about whether renting or buying your next home is the right decision for you. If you decide to buy a home, you’ll likely have to prepare for financing your purchase with mortgage payments. Here’s where things can get a bit tricky. While getting a hold of the costs involved with home buying can … Read more

Student Loans Will Kill Your Dreams of Home Ownership

The vast majority of consumers in America make important financial decisions basically by-the-seat-of-their-pants. I know people mean well but it is commonly bad advice and accepted assumptions that cause a bright financial future to be scuppered. Let’s take the issue of student loans for example. Loads of people blindly regurgitate “student loans are good debt” … Read more