Some home buyers face a “payment shock.” Ways to save on a mortgage

Noel Hendrickson/Getty Images Even with signs that the housing market is cooling, home buyers are still feeling the spur of high prices and higher interest rates. The average rate on a 30-year mortgage is 6.7% as of Friday, up from 3.3% in early 2022, according to Mortgage News Daily. In addition, home prices — the … Read more

What to watch out for before changing jobs now

Skynesher | E+ | Getty Images It is still a workers’ market, even if there is high inflation and a possible recession. But there are some signs that may begin to change. One big reason: The Federal Reserve’s 0.75 percentage point rate hike announced on Wednesday probably won’t be its last as it tries to … Read more

How to avoid a penalty by making quarterly tax payments before September 15?

If you haven’t sent some of your income to the IRS in the past few months, this week is your last chance to avoid a tax penalty. The deadline for third-quarter estimated taxes is Sept. 15, applicable to self-employment income, small business, investment, gig economy work and more, the agency said. “It’s a pay-as-you-go system,” … Read more

Everything We Know (So Far) About Biden’s Student Loan Forgiveness Plan

Caroline Purser | The Image Bank | Getty Images In the two weeks since President Joe Biden made his announcement about federal student loan forgiveness, many new details have emerged about how the landmark plan will work, including who will qualify and when borrowers may see their balances reduced. Meanwhile, last week’s news means some … Read more

These bank charges can ruin your budget. This is how you avoid them

If you’re not careful about how you manage your money, you can incur high bank charges that would otherwise be avoidable. Between being overdrawn or underfunded, fees for interest and non-interest accounts, and ATM fees can take a significant bite out of your budget, according to Bankrate.com’s latest study of bank accounts and ATMs. The … Read more

These bank charges can ruin your budget. What to avoid?

If you’re not careful about how you manage your money, you can incur high bank charges that would otherwise be avoidable. Between being overdrawn or underfunded, fees for interest and non-interest accounts, and ATM fees can take a significant bite out of your budget, according to Bankrate.com’s latest study of bank accounts and ATMs. The … Read more

Mortgage refusal rate of black borrowers twice as high as the total population

Mark Hunt | Disability images | Getty Images Owning a house is one of the most important ways to build wealth. But for aspiring black homeowners, that could be a difficult milestone to reach, according to a new report from LendingTree. Research by the online loan market company shows that the black homebuyer’s rate of … Read more

13 states could hit borrowers with state tax on student loan waivers

President Joe Biden’s student loan forgiveness plan will soon forgive debt for millions of Americans — and the exemption is tax-free on federal returns. However, experts say the cancellation could still lead to a tax bill from the state. Most borrowers making less than $125,000 a year or $250,000 for married couples applying together are … Read more

How do you know if your student loans are eligible for forgiveness?

Antonio Guillem | Getty Images It’s something more than 40 million Americans have in common: they have federal student loans. But the lending system is famously complicated, and these loans have different names and terms, depending on when they were taken out and for what purpose. What are usually just technical differences can now determine … Read more