Buying a home is an exciting process that comes with a lot of responsibilities. When applying for a mortgage, it helps to know some important facts beforehand. The following answers to frequently asked questions can help you prepare for this important step in your own home-buying process.
If your finances are a regular source of stress and anxiety, you are not alone. Some people avoid paying bills until the last minute because of the overwhelming concern that this task involves. Other people experience extreme stress when they pull out a debit card to pay for groceries because they are not sure if they have enough money available in their account to do so.
Student loan debt is one of the most significant aspects of contemporary American financial life. According to The Economist, total U.S. student loan debt surpassed $1.2 trillion in 2014, and over 7 million borrowers are in default. There are approximately 44 million people with student loans who have an average outstanding loan balance of $37,172.
These days, it seems like there is a fine print for everything we do: cell phone contracts, utilities, cable, and the list goes on. We've all been guilty at one time or another of skipping right over the fine print and getting the deal done. The one contract that should always be carefully reviewed is a credit card agreement.
Even with unemployment and national debt at all-time highs, it's still shocking when your family faces a job loss or other financial setback. Most of us experience the emotional impact of money at some point in our lives. And, when adults are hit with a financial crisis, our children are impacted whether we realize it or not.