In this video on the Great Depression, expert David Wheelock of the St. Louis Fed explains the relationship between bank failures and the collapse of the money supply. He also describes how a declining money supply influences employment, inflation/deflation and economic output. “That is the monetary explanation for the Great Depression. Bank runoffs and failures … Read more
If you’ve ever applied for credit or a loan, it’s a feeling you’ll know well. Submit your application, hold your breath, hope that it goes through as you wait for a response. Yay or nay, accept or reject; it could be either one. Regardless of the result, have you ever wondered where a bank, credit … Read more
Your credit scores can be an important factor in the home-buying process. Thatâs because the lender will typically check your credit scores when you apply for a mortgage. A good credit score generally makes you an attractive borrower because it shows youâve managed your credit well. Additionally, you stand a better chance of getting a … Read more
Quick Answer: Since a savings account lacks a debit card or checkbook, you typically cannot pay bills directly from it. Typically, you cant pay bills from a savings account. Savings accounts are for long-term storage, not short-term repeat transactions. They do not have an associated debit card or checkbook you can use to make purchases. … Read more
Experian, TransUnion and Equifax now offer all U.S. consumers free weekly credit reports through AnnualCreditReport.com.Dear Experian, My response to your message was blocked for potentially violating safety policies. I apologize for any inconvenience. Qualifying for a Mortgage After Delinquency The primary determinant of your credit scores is your payment history, with recent payments having the … Read more
Credit scores are a crucial aspect of financial health, impacting everything from loan approvals to insurance rates. While many factors contribute to your credit score, one common misconception is that paying council tax can boost it However, this is not the case. Council Tax and Credit Scores: Debunking the Myth Council tax is a local … Read more
Yes, you can have 2 mortgages on the same house. This is known as a piggyback mortgage or an 80-10-10 loan. It allows you to avoid putting down a 20% down payment, which can be a significant barrier to homeownership for many people. Here’s how it works: You get a first mortgage for 80% of … Read more
Closing a bank account that’s in good standing won’t affect your credit score. Closing a bank account with a negative balance that is sent to collections could have an effect on your credit. Closing a bank account wont directly affect your credit. That could, however, be closed with a negative balance, which could cause you … Read more
In the event that you require additional funds, borrowing against the equity in your home may be a useful strategy. Whether you need the money for home repairs or to launch a small business, you’ll typically get a better rate than you would with other loans. One option for borrowing against your home equity is … Read more
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and heres how we … Read more