Dear Liz: I recently refinanced my house and got $9,400 cash back. I also received a $2,400 escrow check from my previous mortgage lender. Is this money taxable? Should I put away a certain percentage of it to pay those taxes? My plan is just to put it back into household repairs (fireplace, painting, etc.). […]
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Q: They paid off the mortgage. Then the credit score fell. Can that be right?
Dear Liz: My wife and I recently paid off our mortgage. We have no other debt. Soon after, I received a message from Experian that my FICO score, which has been perfect for quite a while, was reduced by 31 points. What justifies such action, and what do I need to do to bring up […]
Friday’s need-to-know money news
Today’s top story: The upsides to thinking about when you will die. Also in the news: The upside to ETFs, how debt collectors are invading social media, and 6 financial military benefits for service members and veterans. The Upsides to Thinking About When You Will Die A good life expectancy estimate helps you know how […]
Thursday’s need-to-know money news
Today’s top story: Which airline brands have the best and worst fees. Also in the news: How to get preapproved for a credit card, which hotel brands have the best and worst fees, and why you should never quit your job without a plan. Airline Fee Rankings: Which Brands Have the Best (and Worst) Fees? […]
Wednesday’s need-to-know money news
Today’s top story: Don’t skip these steps when borrowing parent student loans. Also in then news: How to build a home office without breaking the bank, medical student borrowing slows, and the easiest way to lower the interest rate on your credit card. Don’t Skip These Steps When Borrowing Parent Student Loans Assess your financial […]
The upsides to thinking about when you will die
Social Security’s life expectancy calculator predicts I’ll live to about 86. An insurance company’s version says I should expect to die at 98. A longevity calculator created by actuaries demurs, putting the odds at only 32% that I’ll make it to 95. Eventually, I’ll find out which life expectancy calculator was most accurate. In the […]