Gas Prices Take a Dip
Gas prices, here in my town, have hovered just over $4/gallon for months, hitting a high last month at around $4.09. It was actually quite surprising to see a gas price sign for $3.99/gallon last…
Mary Tomkins
Mary Tomkins is a freelance writer located in Spartanburg, SC, with emphasis on economic news and research on the financial industry.
U.S. Government Plans to Aid Fannie Mae & Freddie Mac
The Federal Reserve and Treasury announced plans on Sunday to lend a hand to mortgage giants, Fannie Mae and Freddie Mac, by temporarily extending their long-standing credit lines if needed. The two companies would be…
Escrow Payments – Mistakes Can Happen
Escrows basically force a homeowner to budget for those pesky property taxes, hazard insurance premiums, and mortgage insurance. It’s commonly understood that the mortgage lender collects a prorated amount each month along with the loan…
Federal Reserve Sets New Mortgage Rules
The Federal Reserve has tightened lending standards with new rules for home mortgages. These new mortgage rules are meant to protect American consumers from the types of irresponsible mortgage lending practices that have been blamed…
Causes for Change in Your Escrow Payment
Escrow payments will occasionally change. If your house payment consists of PITI (principal, interest, taxes, and insurance), then part of your monthly payment is going into an escrow account. Accurate escrow payments ensure that taxes…
Mortgage Escrow
What is Escrow? Escrows are used in other circumstances, but the most widely known types of escrows are mortgage-related. The escrow account is managed by the mortgage lender. The lender collects escrow payments from the…
Preventing Unauthorized Use of a Credit or Debit Card
Electronic payments are safer than cash. Credit and debit cards are such a convenient way to pay that many consumers use a card for nearly every purchase. And not only are cards convenient, but they’re…
Red Flag Rules – A Standardizing of Identity Theft Prevention Programs
Consumers and businesses suffer from identity theft Identity theft is a major threat for consumers. Often, a consumer doesn’t even realize their identity has been stolen until they’ve been denied credit and then find the…
26 "Red Flag" Guidelines for the Identity Theft Prevention Program
Creditors and financial institutions are required to develop and implement an Identity Theft Prevention Program by November 1, 2008. The Federal Trade Commission (FTC) has issued a list of 26 red flags to help give…
The Effect of the Housing Bust in My Neighborhood
Unfinished business in the wake of the housing bust My neighborhood is still under construction. The back of the subdivision has unfinished gravel roads, and some of them are still dirt. Empty, weed-grown lots abound,…