It can be hard for anyone to personally manage their personal finances. This could be because you often don’t know where your money is going or where what you should do with it. Personal finance tools can help you create a budget and keep track of your spending.
When looking to buy a house, it is important that you know how to spot good deals when buying a house. Houses in bad locations may be a problem because of a lack of access to good facilities, school, etc. It’s also important to keep in mind that crime rates can be a major problem. It is best to look for a house that you can afford but that is in at least a somewhat decent location.
REO properties are properties that are owned by the bank and that were formally owned by a homeowner. They were unable to make their mortgage payments on time and than the bank takes them in. The bank will then sell them at a foreclosure auction for a reduced price.
The Justice Department is suing Bank of America over misrepresenting their mortgage loans to customers, not checking them thoroughly for flaws and selling bad quality loans to borrowers. The people who spoke up about it were five investors who collectively lost $100 million due to Bank of America’s bad lending practices.