May 11, 2012 My husband and I just refinanced our house at a great rate (15-year fixed mortgage at 2.875 percent). Our house payment is low and we can afford to pay more each month. Would the best use of our money be to pay down the principal on this low-interest loan or put extra away for retirement or for our children's college fund? We have two young children and are in our late 20s/early 30s. Thanks for your help! Katie, Helena, MT
May 9, 2012 Credit reporting agency TransUnion says the percentage of people behind on their mortgages is down to its lowest level since 2009.
May 1, 2012 I recently was accepted to grad school, and my wife and I will be moving from Michigan to New Mexico. We are having a debate as to whether we should buy a home. After I finish my degree, I would like the freedom to leave New Mexico, if necessary, without having to worry about selling a home. My wife doesn't like the idea of paying rent and getting nothing back from it. Any and all advice would be much appreciated.
Apr 13, 2012 The two major banks beat expectations with JPMorgan reporting a $5.4 billion profit last quarter, and Wells Fargo making a $4.2 billion profit. Both said an uptick in mortgage lending helped their bottom lines.
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 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 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.
Elizabeth Wynne Johnson
Feb 22, 2012 The Consumer Financial Protection Agency will question banks about how overdraft fees may create serious economic hardship for consumers least able to afford it.
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.