Most of us, at one point or another, have imagined updating our kitchen or bathroom but might not have recognized that we had the opportunity to realize our “pipe dream” with a home equity line of credit or loan. Here’s the deal: If you’re like most U.S. homeowners, you could be sitting on a sizable nest-egg without even knowing it. In fact, the average American with a mortgage now has more than $100,000 in home equity.
Many HELOC borrowers find themselves asking, “Is HELOC interest tax-deductible?” The short answer is yes, but not all the time. There are limitations that borrowers should be aware of. Let’s dive into the facts about HELOC and taxes.
Building wealth doesn’t happen overnight. It takes hard work to achieve, but it’s not impossible. There are some tried and true methods that have helped secure the financial futures of lots of people from all walks of life. Set Yourself Up To Build Wealth A college degree is still one of the biggest keys to […]
Today we are sharing performance data from the Prosper Portfolio for July 2019. Highlights from the report include: In July, 67% of originations were rated AA-B, up 159 bps month-over-month. The dollar‑weighted average FICO was flat month-over-month at 718. The weighted average income of borrowers on the platform in July was ~$102K, relatively flat year-over-year. […]
American consumers are awash in debt. According to a recent report by the Federal Reserve, we collectively owe $4.1 trillion in consumer debt, including over $1 trillion in credit card or revolving debt. Are you stressed—both mentally and financially—about your share of this credit card debt? Then it’s time to take action and heed these […]
All parents want a happy future for their children, yet not enough moms and dads teach their kids about financial literacy, a key component of happiness. Educate your kids about money management and it can change their lives for the better.