If you’re looking for flexible funding, you can tap into your home equity with a home equity line of credit (HELOC). A HELOC is a revolving line of credit that uses your home as collateral. Using a HELOC can be risky, so homeowners typically use them for major life expenses, not daily expenses. Let’s learn … Read more
Reverse mortgages are special types of loans that give older homeowners a way to turn their home equity into a source of income they can use during retirement. When they move out or die, the lender usually takes and sells the home to repay the loan. There are some benefits to reverse mortgages, but there … Read more
Key Takeaways An enhanced life estate deed transfers ownership of property after the owner’s death without the necessity for probate. The owner retains control of the property after the deed is in place and during their lifetime, unlike with standard life estate deeds. Enhanced life estate deeds were recognized by only five states as of … Read more
US gas prices reached a new record high Tuesday, erasing the modest relief seen in April. Higher oil prices and increasing demand for gas pushed the average national price to $4.37 a gallon, according to data from AAA. As the chart below shows, the average has now surpassed the previous high of $4.33—fallout from Russia’s … Read more
Key Takeaways A consumer with bad credit is considered a risky borrower, usually due to owing large amounts of money or having a history of unpaid bills and debts. Having bad credit can make it hard to get a credit card, mortgage, car loans, rental approval, or even a job. Bad credit is usually seen … Read more
Key Takeaways Loan/lease payoff insurance will pay up to 25% of your vehicle’s current cash value after your insurance company has paid you if the vehicle is stolen or totaled. Your insurer must declare the vehicle a total loss. You can usually add loan/lease payoff coverage to your auto insurance coverage at any time. There’s … Read more
Definition and Examples of High-Value Home Insurance High-value home insurance is a type of homeowners insurance that is designed for homes with high market value. A high-value home is defined as property worth $750,000 or more. Homes that fall into this group might include heritage homes, or homes with special architectural or interior design elements. … Read more
Key Takeaways Title insurance can protect both buyers and lenders from financial losses that may occur after a home sale. Lenders require borrowers to purchase title insurance to help protect their investment. A homebuyer must purchase separate owner’s title insurance to protect their legal rights to a property. Your title insurance company will handle future … Read more
A leveraged exchange-traded fund (ETF) is a type of financial product designed to track an underlying index at higher rates of return. It can offer returns as high as 2-3 times the returns of a traditional ETF, but that also makes it a riskier investment option. Leveraged ETFs are quickly becoming one of the most … Read more
Key Takeaways Series HH savings bonds were a type of Treasury bond that directly deposited interest payments into an investor’s account. These bonds matured after 20 years and paid interest every six months, but investors could cash in their bonds for the full face value at any time after a required holding period. This bond … Read more