Apr 3, 2012 When I look at the interest rates on various savings accounts, they are all way lower than the 4.6 percent I'm being charged on my mortgage. I do recognize my condo as providing me with a service, and my minimum payment now is actually less than the rent I was paying on a studio 4 years ago! But, if I think of the equity I gain as a sort of savings account for a future upgrade, I'm just not sure how to compare my options. The simplified thought process I currently go through is that any extra I pay on my mortgage saves me 4.6 percent in interest that I would have to pay, while that same money would only earn me maybe 2 percent in a savings account, so it is better to save 4.6 percent by never having to pay it. Am I totally off? Erin, Boston, MA
Mar 26, 2012 Are debt collectors working for the Department of Education letting debtors know their rights? Bloomberg's John Hechinger discusses the rights of borrowers.
Mar 23, 2012 A Seattle family learns the hard way how to manage its finances.
Mar 12, 2012 The $25 billion settlement announced last month finally details all the different types of relief for borrowers. But it sure took a long time.
Mar 9, 2012 More and more, people with outstanding debts are finding themselves in the crosshairs of swarms of collections agencies.
Mar 6, 2012 President Obama reportedly plans to announce some new help for hurting homeowners. There's word one part of the plan would make it cheaper to refinance mortgages insured by the Federal Housing Administration.
Feb 29, 2012 A letter found in the attic tells a story of the ATM's origins.
Feb 16, 2012 The Consumer Financial Protection Bureau is proposing to add the three major credit bureaus and debt colletion companies to the list of businesses the federal agency can now oversee.
Feb 13, 2012 My husband and I are both church pastors. We have been married for a year and half and we both work full time. Our gross income is about $84,000 and we tithe 10 percent to our churches and charities, which we will continue to do. We are trying to decide whether or not to purchase a home, and whether we are saving money in the proper places.... Is this a good time to buy a home? What if we needed to sell it in four years? Should we be putting less money into savings and more into the Roth IRA's? Thank you for your help! Emma, Beverly Hills, MI
Feb 13, 2012 The settlement between states and banks is worth $250 billion, but few homeowners benefit.