Record-breaking debts weigh heavily on Americans underwater with their car loans, while repossessions surge to levels unseen since the financial crash of 2009. These developments signal deeper issues rather than root causes. Among the most alarming indicators is the spike in auto loan delinquency rates, currently at a 15-year peak for borrowers overdue by 30,…
Erik Schmitt, Executive at Chase Home Lending Consumer Direct, reminisces about the chaotic economic landscape that erupted in 2020 amid the COVID-19 outbreak. “The housing market and wider economy were rife with uncertainty,” he notes. As a result, giants like Chase and Wells Fargo hit pause on their home equity lines of credit (HELOCs), reflecting…
In a bid to draw a close on one of the most protracted disputes in the cryptocurrency arena, Ripple and the SEC have teamed up to submit a joint request to a federal court in Manhattan. Their aim: to lift the injunction that’s been in place and unfreeze the $125 million penalty money currently tied…
Essential Insights at a Glance Life insurance splits into two broad camps: term and permanent. Cheaper on the pocket, term insurance covers you for a fixed stretch of years. Permanent policies often tuck away a cash stash that slowly fattens up over time. Rates hinge on your mortality risk; embracing a healthier lifestyle might just…
Core insights to remember: Discover extends introductory APR deals for balance transfers on a majority of its cards, with options to handle the transfer online, via their mobile app, or over the phone. Executing balance transfers can bolster your creditworthiness by expanding your available credit and dialing down your credit utilization percentage. Clearing the transferred…