Community bankers often hear that their bank reminds customers of the Bailey Bros. Building & Loan from the classic 1946 movie, It’s A Wonderful Life. Which is a great compliment. What was it about the Bailey Bros. Building & Loan that people still remember it so specifically and so fondly seven decades years later? A couple of things.
Continue reading Smart About Money: “It’s A Wonderful Life” … but why exactly?
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.
Continue reading Smart About Money: Why Leave The Home You Love?
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.
Continue reading Smart About Money: Protecting yourself from 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.
Continue reading Smart About Money: They did “everything right”. But it didn’t work out …
“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.
Continue reading Smart About Money: Reverse Mortgages Revisited – still a bad idea?
The good news? At one point or another, almost everyone messes up their credit.
Continue reading Smart About Money: Your credit is royally messed up. Now what?
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.
Continue reading Smart About Money: You’re not “just a number” … or are you?