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Your Equal Credit Opportunity Rights When Applying For Credit When Divorcing

The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the Equal Credit Opportunity Act (ECOA), which prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because you get public assistance. The law provides protections when you deal with any organizations or people who regularly extend credit, including banks, small loan, and finance companies, retail and department stores, credit card companies, and...

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Everything You Need to Know about Reverse Mortgages

Whether you’re already retired or are about to retire, you’ve likely made some preparations ahead of time as it is a major step in your life. However, the cost of living and expenses keep rising as the years go by, which mostly results in people struggling financially despite approaching retirement. With all that preparation and savings you’ve done, it may not always be enough.  American Mortgage Solutions is here to offer a solution that not many people are actually aware of. There is a thing...

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Are you thinking about paying cash for your new home purchase?

Divorce can be intricate, tricky, and emotionally overwhelming. When you have to relocate, find new housing and decide to rent or purchase a new home, you pile on additional tasks and frustration. Many divorcing spouses understand the financial benefits of owning a home rather than renting. While obtaining mortgage financing on any given day may oftentimes involve a lot of paperwork and challenges, doing so during a divorce may seem overwhelming and out of reach for many. For many reasons,...

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Home Buying 101: 5 Practical Tips to Get Low Mortgage Rates

Getting low mortgage rates is a combination of long-term commitment and plenty of legwork. Although you can find the most agreeable local mortgage company, it won’t benefit you if you don’t have the right financial standing to back you up. This will be an even greater issue if you have a low credit score. Having a bad credit score from the start will always be disadvantageous. Thankfully, there are some practical ways to lower your mortgage score to give you a better deal in financing your...

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3 Strategies for Successfully Consolidating Your Debts

Handling a single debt may not sound too tough, but having to track multiple sources with different interest rates and repayment terms might be challenging. This is one reason many people fall behind in their repayments. They simply cannot track their debts, which piles higher and higher over time.   Fortunately, we have a solution: debt consolidation. As the name implies, this endeavor allows you to consolidate all debt into one large debt that is slowly paid off. It can make things easier...

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