Filed under: Investing, Real Estate, Freddie Mac, Family Money, Personal Finance, Debt
Many homeowners who are refinancing their mortgages have been abandoning 30-year fixed-rate loans for 15-year and 20-year loans.
Filed under: Real Estate, Ask an Expert, Family Money, Is It Worth It?, Personal Finance, Debt
Some homeowners in their 50s are taking advantage of historic low rates to refinance their homes and score themselves a mortgage-free retirement.
Filed under: JP Morgan Chase, Bank of America, Citigroup, Banking, Consumer Ally
A year after the Federal Reserve enacted new rules to rein in abusive bank overdraft practices, fees remain high and some institutions actually have slapped on additional penalties, according to a new survey of the nation’s 14 largest banks by the Consumer Federation of America.
Filed under: Economy, Personal Finance, Saving Money, Debt
Where do you turn when you’re hit with a nasty surprise expense? If you’re like most Americans, it’s not your savings account.
Filed under: Economy, Taxes, Debt
With all the talk these days about national debts — the European debt crisis, America’s debt-ceiling debacle — I’ve been wondering how the U.S.’s debt stacks up against other developed countries’. Are we as indebted as it feels like we are?
The U.S. ranks seventh on Fortune’s list of indebted developed countries, behind Japan, Greece, Italy, Iceland and other European nations. But, like so many things in economics, the answers can change based on how you do the math. If you define national debt differently, the U.S. springs to the top of the list. So it’s worth digging in a bit more.
Filed under: Economy, Boeing, Debt
The debt-ceiling drama may be over, but — for state governments — the ramifications are just beginning to reverberate.
The new law requires a 12-member, bipartisan “super committee” to recommend at least $1.5 trillion in spending cuts by late November. The law also caps discretionary spending, which includes funding for defense, transportation and basic research.
Filed under: Investing, Taxes, Credit, Market News, Investment, Debt
With a Thursday afternoon deadline fast approaching, investors and officials in Alabama are working to review new proposals to avert the biggest municipal bankruptcy in American history. Jefferson County, home to Birmingham, Ala., may have to file Chapter 9 on its $3.14 billion debt if is isn’t able to negotiate a settlement.
Filed under: Economy, Market News, Saving Money, Debt
As the debt-ceiling discussion winds down in Washington and everyone laments over the meaning and mutual downside of compromise, our attention should start to turn to a more frightening problem — the economy is not growing.
Bank of America is now assessing fees to checking account holders who receive images of their canceled checks in the mail along with their statements.
Bank of America spokesman Don Vecchiarello says inserts were included with customers’ statements back in September alerting them that the change would be coming, but it seems that some customers were still caught unawares, if the venting on Twitter is any indication.
Filed under: Technology, Economy, Apple, Debt
When Republicans and Democrats play chicken with the debt ceiling, some of the consequences are easy to predict: Wall Street will get skittish, voters will get annoyed, and the ratings companies will get a bit stern. What’s harder to imagine, however, is that the day will come when a private company will have more economic freedom than the world’s largest democracy.