Two of the largest credit companies in the nation illegally charged customers for credit repair services and used deceptive advertising to trick and cheat consumers, the Consumer Financial Protection Bureau claims.
The CFPB this week filed a lawsuit against CreditRepair.com and Lexington Law, which the bureau claims are two of the country’s largest credit repair companie...
Read More
Elder Law
Redfin: U.S. home-sale prices experience first annual decrease in 7 years
In March, the nation’s home-sale prices remained virtually stagnant, inching backward only 0.1% from 2018 levels, according to new data from Redfin.
This means U.S. home-sale prices reached a median of $295,000 in March, marking the first year-over-year price decrease on record since February 2012.
Despite this decline, Redfin’s data determined that only nine of the 85 la...
Read More
HUD sued over new down payment assistance rules for FHA mortgages
Last week, the Department of Housing and Urban Development announced it was issuing new rules for down payment assistance on mortgages backed by the Federal Housing Administration.
According to HUD and the FHA, the new rules were meant to provide clarity around what documentation would be required for borrowers who are using funds from another person or entity to cover part ...
Read More
What You Can Teach Children About Saving
Written by Equifax Reporter on April 12, 2019
Children may learn the values of nickels, dimes and dollars in school, but many don’t learn how to manage money and credit – or how to save money.
While it may take self-discipline, saving is important because it can help provide a security parachute in the case of unexpected expenses or emergencies. It also can help people re...
Read More
Preventing Elder Abuse
New Federal Law Puts Focus on Preventing Elder Abuse
A new federal law is designed to address the growing problem of elder abuse. The law supports efforts to better understand, prevent, and combat both financial and physical elder abuse.
The prevalence of elder abuse is hard to calculate because it is underreported, but according to the National Council on Aging, appr...
Read More
New Law on Preventing Elder Abuse
New Federal Law Puts Focus on Preventing Elder Abuse
Last modified: 1 day ago | 3/9/2018
A new federal law is designed to address the growing problem of elder abuse. The law supports efforts to better understand, prevent, and combat both financial and physical elder abuse.
The prevalence of elder abuse is hard to calculate because it is underreported, but according to th...
Read More
Survey Reveals Courts Fail to Offer Basic Information on Probate
Survey Reveals Courts Fail to Offer Basic Information on Probate
Last modified: 2/10/2018
Probate -- the process of proving that a will is valid and of settling an estate -- is among the most common legal procedures in the United States. Yet the overwhelming majority of state courts fail to offer consumers basic online information and resources about probate, according to a...
Read More
Estate Planning and Retirement Considerations for Late-in-Life Parents
Estate Planning and Retirement Considerations for Late-in-Life Parents
Last modified: 2/6/2018
Older parents are becoming more common, driven in part by changing cultural mores and surrogate motherhood. Comedian and author Steve Martin had his first child at age 67. Singer Billy Joel just welcomed his third daughter. Janet Jackson had a child at age 50. But later-in-lif...
Read More
Protecting Your House – Medicaid
Three Reasons Why Giving Your House to Your Children Isn't the Best Way to Protect It From Medicaid
Last modified: 2 weeks ago | 11/28/2017
You may be afraid of losing your home if you have to enter a nursing home and apply for Medicaid. While this fear is well-founded, transferring the home to your children is usually not the best way to protect it.
Although you general...
Read More
Reverse Mortgage – HECM
Jumbo Reverse Mortgages Are Increasingly Available for High-Value Homes
Seniors with pricier homes now have an increased ability to get a jumbo reverse mortgage in order to raise cash for retirement. As the housing market has improved, jumbo reverse mortgages are becoming more popular even though they carry some risk.
Reverse mortgages allow homeowners who are at least 62 y...
Read More