Lenders want you to borrow against your home equity again. The question is, should you? Rising home values and a sluggish mortgage market mean banks are once more marketing home equity lines of credit. Last year, lenders handed out $156 billion in HELOCs, a 24% rise from a year earlier and a 138% rise from […]
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Tuesday’s need-to-know money news
Today’s top story: How two extra years in college could cost you close to $300,000. Also in the news: How a financial advisor can help with life insurance, tips for paying off student loans if you didn’t finish college, and why 66 million Americans don’t have an emergency fund. 2 Extra Years in College Could […]
Monday’s need-to-know money news
Today’s top story: How to save on your cellphone bill when moving. Also in the news: how to survive a job loss, why millennials aren’t in a rush to buy a home, and why you shouldn’t wait to tackle your debt. Moving? One Simple Change Could Save You Money on Your Cell Phone Bill in […]
Q&A: Pros and cons of refinancing college loans
Dear Liz: We took out parent PLUS loans to finance our two sons’ college tuition at private universities. We’ve received solicitations from a private lender offering to refinance. What are the pros and cons of doing so? Answer: It rarely makes sense to replace federal student loans with private loans because the federal version comes […]
Q&A: How to start saving
Dear Liz: I have credit card debt, federal student loans and a car loan. I’m trying to save for a house, but I also know I should save for retirement. How do I figure out what to tackle first? Answer: If you have a 401(k) with a match at work, take advantage of it first. […]
Q&A: How long should you keep paperwork about an estate?
Dear Liz: My mother-in-law died 11 years ago and had money everywhere. Thus, I have five drawers full of paperwork. With the exception of the IRS documents, I would love to throw everything out (shredded, of course). How long do I need the paperwork? Answer: Two of the biggest risks to a settled estate are […]