Personal Finance and Money Management

Overdraft penalty fees were, until recently, were automatic when a zealous consumer went on a shopping spree that put their credit card account over the limit. Overdraft fees could be upwards of $34 and imposed for simply going over by $1. But with new legislation recently enacted by Congress, written to protect consumers from unreasonable charges and fees, banks can no longer charge those fees without the account holder giving authorization. Many consumers may be confused when they receive official looking notification requesting that they provide authorization for overdraft protection. The request is often written in a tone to instill fear or to imply that it is in the customer’s best interest. B

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In a situation where the home owner owes an amount on mortgage which is more than the current value of the home, this results in negative equity. This often results in those cases where the value of home drops sharply immediately after the mortgage has been taken. Due to this the home owner does not have much time to pay for their mortgage hence resulting in an upside down or negative equity arrangement. This scenario is the leading cause of foreclosure but its seen that lenders do not like foreclosing on negative equity homes.

How Negative Equity Leads to Foreclosure

In the case as mentioned above, if an individual owes more for his mortgage than compared to the value of the home then it’s obvious that taking the mortgage wasn’t beneficial for the individual.

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If you’re in the market for a credit card – be it your first or not – the complexity of picking one can be overwhelming and pretty confusing. There are tons of different features and benefits in play such as Purchases APR, Balance Transfer APR, annual fee, cashback, etc.

Let’s outline a few basic rules to make the process easier and less stressful for you.

1. Lower APR is always better.

Don’t be fooled by the APR “ranges” that are listed on credit card offers. Always find out exactly what your APR would be before committing to a card. Ideally, you want a Purchase APR lower than 13%.

2. Avoid annual

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(Snowshoefilms 3-parts) THE CRIME OF THE CANADIAN BANKING SYSTEM For nearly 40 years, Canada – the people of Canada – had control of their own currency! Imagine! They founded their own bank and issued their own currency with no debt obligations to banks. Taxes were low and debt was too. The

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