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Mortgage SimpleScore Methodology

We’ve created the SimpleScore to help you objectively compare products and services here at The Simple Dollar. Our editorial team: Identifies five factors to compare across each brand Determines the rating criteria for each factor Calculate an average of those five factor scores to get one SimpleScore We break down each of these five...

What Does the Fed’s 2% Policy Mean for Loans and Mortgages?

It may seem like a small change, but a shift in policy by the Federal Reserve could impact everything from how much you pay for goods and services to your loan’s interest rate. Recently, the Fed announced it would aim for an average 2% rate of inflation. In year’s past, the Fed tried to keep inflation as close to 2% as possible. Why the change? The...

The Simple Dollar Guide to the 2020 Presidential Election

On November 3, American voters will decide who sits in the oval office for the next four years. While things will certainly change between now and then, a recent poll from Reuters has former VP Joe Biden at 47% and President Donald Trump at 40% among registered voters. It also showed that voters rank the economy and healthcare as two of the most critical...

Could Student Loan Forgiveness Reduce the Racial Wealth Gap?

Student loans may have once started out as an affordable way to pay for college, but it has long since exploded into a $1.6 trillion system that leaves borrowers unable to save, buy homes or retire. “There’s a lot of misconceptions about student debt, higher education and debt cancellation,” says Ashley Harrington, federal advocacy director at the...

Yes, Blockchain Mortgages Are a Thing Now

Applying for a mortgage might be one of the hardest things about buying a home. It takes longer than, say, applying for a credit card, and it’s a lot more expensive for homebuyers thanks to processing fees. But according to a recent Moody’s study, blockchain technology — the same encrypted record-keeping system behind Bitcoin — could save the mortgage...

The 5 States Where People Are Missing Mortgage Payments the Most

Shelter-in-place mandates and quarantine orders, combined with business shutdowns and job layoffs, have led to an annual estimated decline in the United States’ real gross domestic product (GDP) of 32.9% during Q2 2020. COVID-19 has also led to an increase in mortgage delinquency rates. Housing data company CoreLogic pointed out that in May 2020 (the...

Is Now the Right Time to Get a Mortgage?

The coronavirus pandemic has caused interest rates to reach record lows, which means it’s cheaper than ever to borrow money for a home loan. Still, with a recession due to a pandemic on the horizon, you may be wondering, is now a good time to get a mortgage? The answer really depends on your financial situation. If your finances aren’t in good shape...

Airbnb Insurance, Explained

Airbnb is a pioneer of the sharing economy, allowing hosts to rent out part or all of a property to travellers. While many Airbnbs are advertised as an “entire place,” meaning guests have the entire house or apartment to themselves, many listings consist of a private room. Hosts renting out either type of Airbnb qualify for up to $1 million in liability...

What Is the Make and Model of the Car?

When it comes to the auto industry, there are a lot of buzzwords that get tossed around — make, model, features, stock, VIN, MSRP and more. If the car buying process is new to you, you might get lost with all this jargon. Thankfully, most of these terms are quite simple to understand once someone takes the time to explain. Compare Affordable...

3 Reasons Why the Stock Market Is Doing Well While Unemployment Is High

It’s been quite a roller coaster as of late when reading financial news. For example, recently, within the spate of a few hours, CNN Business posted an article outlining concerning unemployment numbers and a separate article discussing the stock market hitting record highs. How do those two seemingly incompatible things make any sense? How can stocks...

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