A reverse mortgage can also be used to help someone purchase a home. In this type of reverse mortgage, known as an HECM for Purchase, the homebuyer provides a down payment and borrows the balance due without any obligation to make a monthly mortgage payment. It’s important to understand how an HECM for Purchase works, the requirements to qualify for this type of loan, and the pros and cons if you are considering this option....

But what happens when your income drops and your payments no longer fit your budget? You may decide to switch jobs or get laid off from work, both of which can directly impact your paychecks. Knowing what to do following a reduction in income could help you steady your monthly budget and weather the financial storm. How To Report a Change in Income The Department of Education offers an online tool to help guide you through the reporting process when your income changes....

Here’s information on how Social Security affects unemployment benefits. Collecting Social Security and Unemployment Full unemployment insurance benefits are available for eligible workers who are collecting Social Security in most states. In the past, there were exceptions in some states where the amount of unemployment compensation was offset by some of the Social Security benefits that were received. Social Security Offset Law Previously, in some states, the amount of unemployment compensation was partially offset by the sum of Social Security payments that were received....

So, let’s start with a definition of what market cap does and why it’s valuable in traditional markets, and then we’ll get into looking at Bitcoin market cap and what you need to watch out for there. The Basics of Market Cap Market cap is short for market capitalization. This is a reference used by investors to figure out how big a company is. The way that market capitalization is figured is to multiply the number of shares available by how much the shares are selling for....

Learn more about cancellation clauses and provisions that are commonly included in these clauses. What Is a Cancellation Clause? A cancellation clause outlines who can cancel a contract, why they can cancel it, and how they can go about canceling it. These clauses are included in most contracts, but they’re especially common in insurance policies. In insurance contexts, the cancellation clause outlines how a policyholder can lose (or cancel) coverage....

Why a Co-Signer Is Needed for a Loan A lender usually requires a co-signer when it needs more information or more security to be assured that the loan will be paid off. Banks may require a co-signer on business start-up loans because the new business owner has no or little business credit history for the bank to gauge your ability to pay back the loan. Additionally, small businesses have a high failure rate, which increases the risk the lender takes on....

What to Include in Your Resume Begin with a resume summary statement. A resume summary statement (also known as a resume summary or summary of qualifications) is a list or a few sentences at the top of a resume that highlights your qualifications for a position. It is a great way to quickly show an employer why you are a strong candidate for a position. The summary statement should be located below your name and contact information....

The operating budget for a business is a forecasted, or predicted, financial statement of all the revenue and expenses it expects during a specified time period like a quarter or a year. The operating budget is usually broken down by category of revenue for each product the business sells. It is also broken down by types of expenditures it makes regarding every product. Most firms further break down their operating budgets by fixed and variable costs....

Moyo Studio /Getty Images The gloom was widespread, spanning every income, age, and education level across all regions and covering every aspect of the economy, from personal finances to inflation to unemployment, Richard Curtin, director of the University of Michigan consumer sentiment survey, said in a statement. As the chart below shows, the preliminary August sentiment index dropped 13.5% from July to 70.2, the lowest level since December 2011. That edged out the recent low seen in April 2020, during the pandemic’s onset, and missed economists’ expectations of 81....

Of course, no one knows the answer to that question, but history informs us that the stock market does bounce back, although it may be slow in happening. Every time the stock market stumbles some investors abandon their investment plan and sell out as prices continue to fall. Holding on Even When the Market Looks Bleak Long-term investors need the courage to hold on even when the market looks bleakest....

Another common type of debt relief is debt management plans offered by credit counseling companies. With this type of debt relief, you repay everything you owe, but you’ll often get a reduced interest rate. There’s generally less risk with this type of debt relief, and the process is different. Given that, we chose to evaluate credit counselors separately. With debt settlement, there’s no guarantee that your creditors will be willing to settle....

Yet in many different listing services—including Zillow, Redfin, or MLS—the absence of electricity and telephone can often qualify a property as unimproved, despite its accessibility via paved or dirt road. Unimproved Is Open to Interpretation Unimproved almost always means there isn’t an electric meter, phone box or natural gas meter on the property, so take this into account when quickly evaluating a listing. When searching in rural areas, expect many unimproved parcels with varying degrees of access—and consider gates, easements, and proximity to services of all kinds....

What the Interviewer Wants to Know You’re being asked to do so for a good reason. Your interviewer wants to know what activities you participated in and why, including those outside the classroom. What did you learn from them? Why are those memories still valuable to you today? Preparing an articulate and honest answer could put you ahead of other applicants. Focus on the Values of the Company Look back at the job listing....

However, this form of therapy doesn’t cure sleep apnea, so you may continue to use a CPAP machine indefinitely. This continuous use may require you to occasionally replace some CPAP supplies, which could be a recurring expense. Learn what type of Medicare coverage pays for CPAP machines, when it will cover CPAP machines and supplies, and what costs you may need to pay out of pocket. When Will Medicare Cover CPAP Machines?...

The Conference Board’s Employment Trends Index, which is designed to predict the direction of the job market over the short term, has reached its highest point since at least 1973, the independent research organization said Monday in a monthly report. The October reading suggests more hiring, a shrinking unemployment rate, and rising wages over the next several months, according to the organization. The report comes hot on the heels of last week’s better-than-expected jobs report from the Bureau of Labor Statistics (BLS), which showed jobs returning at a clip that put the U....

Helpful personal finance tools such as budgeting, transaction tracking, categorization, and bill reminders make Mint ideal for many people, but the absence of an account reconciliation feature makes the app unusable for some. The app is periodically updated with new, useful features, such as credit score tracking. The features mentioned here were available as of September 2018. Getting Started To get started with Mint, you must sign up and connect your financial accounts to your Mint account....

After virtually ignoring the rapid increase in consumer prices over the last year, moving too far too fast now could cause asset prices, particularly stocks and real estate, to collapse, experts say, and could even tip the economy into recession. On the other hand, not doing enough could leave inflation running uncomfortably hot and continuing to hit consumers in the pocketbook. Members of the Federal Open Market Committee, the policy-making arm of the central bank, have been far more hawkish, or aggressive, in the last few weeks than they were during most of last year....

Here’s a quick look at the most significant economic indicators of the day and what they tell us. Home Sales Fewer homes sold in February (7.2% fewer) as buyers were deterred by rising mortgage rates, higher and higher prices, and a lack of properties on the market, the National Association of Realtors said. The number of existing homes sold fell to an annualized rate of 6.02 million, the lowest since August of last year and well below the pandemic-era peak of 6....

An Additional Medicare Tax can be deducted from some employees’ pay as well. After federal and state income taxes, Social Security and Medicare, or FICA taxes, make up the bulk of taxes that are routinely withheld from your paychecks. How FICA Taxes Are Paid You, the employee, pay half the FICA taxes, which is what you see deducted on your pay stub. Your employer must match these amounts and pay the other half to the government separately at regular intervals....

It’s not only who you know personally who can help; it’s also the people you know can refer you to. These second-degree connections may be able to assist you as well. If you know what company or companies you are interested in working for, try to find contacts at those companies. Read below for information on different ways to find contacts at companies, from networking online to going to alumni events to sending out email messages....