Key takeaways A reverse mortgage allows homeowners who are 55 and older to tap their home’s equity for tax-free payments. The most common type of reverse mortgage is a Home Equity Conversion Mortgage (HECM), which is available to borrowers 62 and older. Reverse mortgages can be complicated; ask a financial…
In a world that operates 24/7, we want to simplify our lives as much as possible. One way to do that is to use automated payments for credit cards, gym memberships, streaming services, rent and mortgage, subscriptions and more. However, the more automated payments we create, the harder it can…
Key takeaways Voluntary life insurance is an optional group life insurance policy offered by select employers, usually at a discounted rate. It may be a beneficial option for people with chronic health conditions or those who have been rejected by private life insurance companies. Most employers offer voluntary term life…
MartinPrescott/Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Making extra payments or picking up a side job are effective ways to pay off a personal loan faster. Tightening your budget or refinancing your loan can also help with early payoff. Check for any penalties or fees for paying off a…
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TomoCredit, a five-year-old San Francisco startup that claims it boosts consumers’ credit scores, is facing a growing number of problems,…
This founder built his brand on a simple idea: Forget about changing the world. Get rich doing mundane and even…
The 2024 presidential election has ended, and Donald Trump is poised to retake the White House, with big implications for…
Voters in Washington State have decided to keep the state’s first-in-the-nation public long term care insurance program. On Tuesday, they…
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Retirement plans for the self-employed range from the good to the outrageously good, and can allow you to save much more than you ever could with a traditional employer plan. A well-chosen retirement plan can allow entrepreneurs and the self-employed to bankroll a bright retirement.…
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Key takeaways A lien serves as an official notice that you owe a creditor for unpaid property. If you do not pay, the…
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With interest rates easing and inflation cooling, small businesses are getting a much-needed break. A change to the Small Business Administration’s (SBA) refinancing…
Credit Cards
Key takeaways Actively using a credit card responsibly can help improve your credit score over time. Using your credit card like a debit…
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Daniel Balakov/Getty Images Funds focused on environmental, social and governance issues (ESG) have continued to have significant appeal in recent years, as institutions and individuals pay greater attention to the way their money is invested. Assets managed with ESG principles are expected to hit $40 trillion by 2030, according to…
Most people hope to retire one day, but many aren’t quite sure how to get there. Amassing enough money to retire is a rather daunting task, especially when you’re just starting out. But developing a plan and taking advantage of every savings opportunity can help ease the stress and set…
As a credit cards writer, it’s easy for me to think that everyone earns and uses credit card rewards as strategically as my team does. But it turns out that quite a few U.S. adults don’t have a rewards credit card. And for those who do, nearly a quarter didn’t…
Key takeaways The Fed’s dot plot is a chart that records each Fed official’s projection for the central bank’s key short-term interest rate. The dot plot is updated every three months and is meant to provide insight into the Fed’s future rate decisions, with the caveat that Fed officials can’t…
Images by GettyImages; Illustration by Hunter Newton/Bankrate The Federal Reserve doesn’t set mortgage rates outright. But its decisions in setting interest rates do play a role in the percentages lenders offer would-be homeowners. And even if the Fed keeps things unchanged, mortgage rates can still fluctuate. So, overall, how do…
Richard Drury/ Getty Images; Illustration by Austin Courregé/Bankrate A mixed week for home equity rates. HELOCs continued their 2024 declines: The $30,000 HELOC (home equity line of credit) dropped one basis point to 8.52 percent — its lowest level in a year and a half, according to Bankrate’s national survey…
Key takeaways The Chase Freedom Unlimited® could be worth it if you’re looking to earn more Ultimate Rewards, don’t want to pay an annual fee and can take advantage of the earnings structure, welcome bonus and intro APR. The Freedom Unlimited works well as a cash back card, but it…
Key takeaways The Chase Freedom Flex® is a unique cash back credit card that doubles as a great travel rewards card for those who know how to best take advantage of it. With no annual fee and the ability to redeem Chase Ultimate Rewards points for travel purchases, the Chase…
The Federal Reserve’s interest rate decisions influence what you pay for variable-rate home equity lines of credit (HELOCs) and new home equity loans. Not you personally, of course — your own financials determine that — but the offers you’ll see lenders advertise, and the general rate trends. But how? Let’s…
The Federal Reserve reduced borrowing costs again at its final gathering of 2024, but officials penciled in two fewer cuts for the year ahead as inflation stays stubbornly above their target. The Federal Open Market Committee (FOMC) cut rates by a quarter of a percentage point, marking the third consecutive…
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