AP Personal Finance Editor Trevor Delaney explains why late fees can occur on credit card statements, even if the bill arrived on the due date. (Video runs :56)
It's always a good idea to pay your credit card bill online, and just to be on the safe side, schedule it to post one day ahead of the due date.
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For those waiting until interest rates bottomed out before they either purchased a home, or refinanced the one they're in, it may be too late.
We warned our readers a couple of months ago about the risk involved in trying to time the markets, both from a home buying and mortgage point of view.
Now, the Federal Reserve has signaled that it won't try to do more than it previously planned to pull down mortgage rates and other long-term interest rates.
For homeowners hoping to refinance at a lower interest rate, the Fed doesn't seem to be offering any fresh encouragement.
Fed Chairman Ben Bernanke may have decided there was too much risk in trying to boost efforts to push long-term rates down, with the market leaning in the other direction. Besides, the Fed has said it views rising long-term rates as a sign that the economy is getting better.
Could mortgage rates dive again? Sure — if the economy crumbles.
In today's economy, everyone is looking for ways to save money. Here are 5 cheap home repairs you can make today that will save money tomorrow. (Video runs 1:29)
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Rock-bottom interest rates and an $8,000 tax credit make a home possible for many first-time buyers — with no trick mortgages or financial gymnastics required.
With that tax incentive, average credit and less than $2,500 in savings, it's possible to buy a $150,000 starter home for about $1,000 a month, taxes and insurance included.
Most people who want to buy are stuck with a home to unload first. First-time buyers don't have that problem. But many don't have the down payment money either.
The $8,000 federal tax credit solves that. It is literally a gift: All you need to do is buy a first home for $80,000 or more to receive a 10% — to a maximum of $8,000 — rebate from the government, even if you had no taxes withheld.
The government is even letting homebuyers with Federal Housing Administration (FHA) mortgages borrow against the tax credit right now — it's called a bridge loan — and then repay it at tax time.
There are several items you must meet in order to qualify, but it's not complicated.
A triple play like this one probably won't happen again in your lifetime:
* Money's cheaper than dirt.
* Home prices have been knocked back to 2003 levels.
* The federal government wants to pay you up to $8,000 for buying a house.
Talk to us, or any qualified lending professional, about your options for buying a house now. There really may never be another chance like this in your lifetime.
