Dear Liz: Why is there such a difference between my FICO 4 and FICO 8 scores? My FICO 4 score is 646 while my FICO 8 score is 678. I want to buy a home and I know some lenders may still use the FICO 4. Answer: Most (not just some) mortgage lenders use outdated […]
Recent Blog Posts
Q&A: Divorced, and in debt
Dear Liz: I recently got divorced and found myself in about $50,000 of credit card debt. While I’m struggling to slowly pay off this debt, I do have some money saved in a tax-sheltered annuity as well as a small Roth IRA. Should I use those, take a personal loan or file for bankruptcy? Answer: […]
Friday’s need-to-know money news
Today’s top story: How to find the best mortgage rate online. Also in the news: How to set up your first 401(k), what happens if you work after signing up for Social Security, and why we value purchases more when we pay with cash. How to Find the Best Mortgage Rates and Lenders Online Comparison […]
Thursday’s need-to-know money news
Today’s top story: How payday loans work, and what they cost. Also in the news: Getting the most out of a retirement calculator, money tips you should ignore, and the best budgeting apps for your financial life. Payday Loans: How They Work, What They Cost Reading the fine print. 5 Steps to Get the Most […]
Wednesday’s need-to-know money news
Today’s top story: Overcoming the obstacles between you and retirement. Also in the news: What the President wants to tell college students, what happens when your debt goes to collections, and how to pay less for staying cool this summer. 5 Obstacles Between You and Retirement (and How to Overcome Them) Clearing the pathway to […]
Tuesday’s need-to-know money news
Today’s top story: Carrying a credit card balance for the first time. Also in the news: Closing the bank of Mom and Dad, why the starter home is in decline, and an employee benefit that could help with student loans. Carrying a Credit Card Balance for the First Time Managing the debt. Closing the Bank […]