Check for Fees

In this amazing world today, fees are widespread. As companies struggle to keep prices low and compete, they often survive through hidden fees. What does this mean for you?? Diligence is the word of the day. There is no more sitting back and assuming “what you see is what you get.” Some samples of common fees to watch out for: 1. Credit cards. These are truly the fee monsters. Late payment fees, overbalance fees, cash withdrawal fees are common. What also might surprise you are the fees to use your money in a foreign country or balance transfer fees. 2. … Continue reading →

Balance Your Checkbook and Save Money

You can save money by balancing your checkbook every month and keeping a running total. The Center for Responsible Lending has just issued a new report “Out of Balance” warning against the high interest rates that the banks are charging to cover your items if you overdraw. The report speaks out against what it calls unfair banking practices that can cause the customers to accumulate more fees. The Center for Responsible Lending is supporting bill HR 946, which would put overdraft loans under the jurisdiction of the Truth-in-Lending Act. This could mean that the banks must notify you if you … Continue reading →

Mortgage Insurance and Your Money

If you own your home, do you know if you are paying out for mortgage insurance each month? Many people don’t. It is often one of those fine details that get lost in all the mess of paperwork and decisions that go into buying a new home. What exactly is mortgage insurance? It is insurance the bank that holds your loan will require in certain circumstances. The insurance doesn’t protect you, the homeowner, from any catastrophe. This insurance only protects the bank if you foreclose on your loan. A typical misconception is the insurance will protect you from losing your … Continue reading →