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Closing on a Home? Follow These Tips.
U.S. News & World Report - It's a great time to buy a home. With the real estate crash, prices are way down and mortgage rates have never been lower. But if you are not careful, a new rule recently enacted by Fannie Mae could end your homeownership dreams.
Summary Box: Mortgage applications rise 7 pct.
AP - MORTGAGE APPLICATIONS RISE: Applications for home loans rose nearly 7 percent last week from a week earlier as consumers raced to refinance at the lowest rates in decades.
Mortgage rates drop to new low of 4.57 pct.
AP - Mortgage rates fell for the second straight week to the lowest point in five decades. But many people either don't qualify for new mortgages or have already taken advantage of the low rates this year.
Avoid These 5 Retirement Investing Traps
U.S. News & World Report - Saving for retirement can be tricky. If you're not careful, one wrong move can set you back years and thousands in potential earnings. Watch out for these common retirement investing traps.
Gov't tries to recoup some Fannie, Freddie losses
AP - A federal regulator is taking steps that could lead to the recovery of some losses sustained by mortgage giants Fannie Mae and Freddie Mac.
Senate to act on middle class tax cuts this year
Reuters - U.S. Senate Finance Committee Chairman Max Baucus on Tuesday said he expects the Senate to act on extending middle income tax cuts before they expire by the end of the year.
9 Surprising Facts About Your Credit Score
U.S. News & World Report - A solid credit history and excellent FICO credit score - typically 750 or above -- are extremely valuable. A high credit score can save you tens of thousands of dollars in mortgage interest, lower your auto insurance premiums, and even help you land your next job. For all their importance, however, a lot of confusion surrounds credit reports and scores. To take some of the mystery out of these important financial tools, here are 9 facts about credit reports and scores that might surprise you.
Scams: A Sucker Retires Every Minute
BusinessWeek - Annuities. Reverse mortgages. Life insurance pools. Principal-protected notes. The options being offered to senior citizens hoping to ensure a comfortable retirement are dizzying. And in a growing number of cases, that may be the intention as more scammers--often elderly themselves--try to con retirees. Though hard numbers are difficult to come by, many lawyers and advocates for the elderly say more seniors than ever are being lured into investment schemes that are unsuitable for people of their age or are outright swindles. ...
Bank of America to Customers: Get Out and Stay Out!
The Motley Fool - Big Wall Street banks aren't anyone's favorites right now. With such a bad reputation, does it really make sense for a bank to give its loyal customers a big incentive never to step inside its doors again?
Do This to Make Your Money Last a Lifetime
The Motley Fool - The biggest concern that people nearing retirement age have is making sure they'll never run out of money. Although many people are right to worry about whether they've saved enough, you can take steps to make sure you won't be among them when you retire.
3 Top Funds You Can Still Jump Into
The Motley Fool - Amid the ultra-competitive world of Wall Street money managers, everyone jumps on whatever edge they can find. For top fund managers seeking to create the aura of exclusivity, closing a fund to new investors attracts attention and intrigues new investors trying to get in under the wire. Better still, when successful funds reopen their doors, the result can be a wave of new money.
Dirt-Cheap Mortgage Rates: Here for How Long?
U.S. News & World Report - Although economists have grown increasingly concerned that the real estate market may slip into a 'double-dip' recession, today's consumers are being handed a tempting incentive to buy property or refinance their home loans: ultra-low mortgage rates. Rates on 30-year fixed mortgages fell to 4.57 percent for the week ending July 15. That's down a half percentage point from three months earlier and the lowest level in the 39 years that Freddie Mac has been monitoring rates. ...
Buy, Sell, or Hold Research In Motion?
The Motley Fool - Right now, you can't go through a list of news articles for Research In Motion (Nasdaq: RIMM - News) without seeing gloomy headlines such as 'Why RIM is a Risky Investment' (TheStreet.com) and 'BlackBerry's Era May Be Ending' (The New York Times). Fears of market share declines because of Apple's (Nasdaq: AAPL - News) iPhone and Google's (Nasdaq: GOOG - News) Android platform clearly have investors on edge -- and an underwhelming earnings report last quarter didn't do much to calm their nerves.
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