Posted by on July 30, 2010
Refinancing seems like a great idea for home owners looking to shave hundreds of dollars off of their monthly bills and put it into savings.
However, a growing problem exists within the mortgage market involving the mortgage refinancing process and life insurance policies.
Many people saving for retirement fail to recognize that refinancing may result in an extension of a mortgage. For those who only take out life insurance that lasts up until retirement, this can conflict with mortgage bills that continue to come in.
“Homeowners often buy term life insurance designed to pay off their mortgages in the case of an untimely death,” says Gary Lardy, CEO of IntelliQuote Insurance Services.
“As most people envision that they’ll have their mortgages paid off by age 65, many acquire a policy that covers them up to that age. A Read all post…
Posted by on July 26, 2010
Even though auto insurance can be fairly cheap in the U.S. compared to other places in the world, doing your auto insurance comparison online can be a real money saver particularly if you drive a sports car or SUV and/or your driving record is less than stellar.
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Posted by on July 26, 2010
In the end, it’s possible that the BP Deepwater Horizon oil spill in the Gulf of Mexico will likely to be the most expensive oil spill to date. Indeed, there are estimates that the spill will cost anywhere between $15 billion and $40 billion – with some estimates reaching more than $100 billion.
While the BP spill, which started on April 20, 2010 and still has not been fully contained, will probably be the most expensive oil spill of all time, there are plenty of other oil spills that have cost a pretty penny. H
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Posted by on July 24, 2010
Lloyds Banking Group has stopped offering payment protection insurance (PPI) products across all its brands and products.
This means that PPI policies will no longer be sold alongside its personal loans, credit cards and mortgages to any new customers of Lloyds TSB, Halifax, Bank of Scotland, Cheltenham & Gloucester and Black Horse.
PPI covers the repayments on financial products if the borrower is unable to make them due to accident, sickness, unemployment or death.
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Posted by on July 21, 2010
You may not realize it, but those two times you paid your credit card bill late may mean you’re paying more in auto or home insurance premiums today.
Insurance companies set premiums based on their perceived risk for covering you. To do this, they look at many factors — and your credit history can be one set of factors in insurance risk scoring. Insurance companies believe that people who pay their bills on time may be less likely to file a claim.
Therefore, the same behaviors that hurt your credit score (late payments, payments in collection, too many accounts, being close to your credit limits, etc.) can also lead to higher insurance premiums.
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