I recently met with a couple in their very early 70s who were starting to think about downsizing. Why? Basically, because they were under the impression that it was “what everyone did”, that it was “the right thing to do” and they wanted to be “prudent.” They were considering buying a condo and were wondering if it would be better to get a small mortgage or pay cash.
I never thought I’d find myself writing those words. But as more news comes out about what Wells Fargo was doing to its customers, that’s the only way to describe them. Wells Fargo was a rogue bank.
A family came into the Bank to make a withdrawal from the savings account of their beloved mother, who had just died.
“They’re good for some people” – that’s how most columns about Reverse Mortgages start. Maybe that’s true. Maybe a Reverse Mortgage is perfect for someone in some very specific financial situation.
The good news? At one point or another, almost everyone messes up their credit.
It seems that there’s quite a bit of misunderstanding about FICO scores and how lenders use them.
Some people have come to believe that “their” score says everything about who they are – as if that one number summed them up and defined them, for better or worse.
A question about credit reports that I had never seen addressed before came up the other day.