It doesn’t take much to upend many Americans’ finances. A car that won’t start, a furnace that dies or a trip to the hospital can leave households struggling to make ends meet. According to the Federal Reserve, 44 percent of U.S. adults say they would have trouble coming up with $400 to cover an unexpected […]
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Monday’s need-to-know money news
Today’s top story: Lock down your data right now after Equifax breach.Also in the news: Health insurers ease rules for Harvey Victims, protecting critical documents from disaster with a bug-out bag, and the credit move than can bump your score in 30 days. Lock Down Your Data After Equifax Breach — Right Now Immediately. Health […]
Q&A: Reverse mortgages have gotten safer and cheaper but aren’t for everyone
Dear Liz: I have been making interest-only payments on a home equity line of credit but starting in January the payments will increase to include principle. I would like to do a cash-out refinance of my first mortgage (I owe about $190,000) to pay off the HELOC (on which I owe $140,000). My home is worth […]
Q&A: Tax implications of parents paying off a child’s loans?
Dear Liz: My wife and I co-signed for student loans for our daughter. My daughter made payments on these loans since she graduated from college four years ago. My wife and I just paid off the loan balance, which was $22,000. Is our payment considered a gift to our daughter? Answer: Yes, but your gift […]
Outrage after outrage
Yesterday Equifax broke the news hackers gained access to the Social Security numbers and other sensitive personal information for 143 million Americans (a group that apparently includes me, my husband, our daughter and probably you). Because that wasn’t enough, today the outrages just continued: The breach was discovered at the end of July. What was […]
Thursday’s need-to-know money news
Today’s top story: Americans favor debit over credit for their go-to card. Also in the news: How to choose a cash-back credit card, how to get an SBA disaster loan for your business, and the costly mistake people make when using debit cards. Americans Favor Debit Over Credit for Their Go-To Card The results are […]