Highlights More than 10 years of experience as a journalist covering topics like personal finance, parents, and mental health Former marketing and communications professional at a real estate company Host of local workshops discussing financial and contractual advice for freelance professionals Has writing expertise focused on the intersection of personal finance, race, and culture experience … Read more
Key Takeaways A higher unrecaptured Section 1250 tax rate applies to long-term capital gains for which a taxpayer has previously claimed depreciation. The IRC requires that claimed depreciation must be factored back in to arrive at an adjusted cost basis for calculating the amount of a capital gain. The Section 1250 rate is usually 20%, … Read more
A home equity loan, or second mortgage, allows you to withdraw the equity you’ve built up in your home so you can use the cash to make repairs to your home, pay for college tuition, or consolidate your debt, for example. You repay the money over time through a series of regular payments. Home equity … Read more
US gas prices reached a new record high Tuesday, erasing the modest relief seen in April. Higher oil prices and increasing demand for gas pushed the average national price to $4.37 a gallon, according to data from AAA. As the chart below shows, the average has now surpassed the previous high of $4.33—fallout from Russia’s … Read more
Key Takeaways A consumer with bad credit is considered a risky borrower, usually due to owing large amounts of money or having a history of unpaid bills and debts. Having bad credit can make it hard to get a credit card, mortgage, car loans, rental approval, or even a job. Bad credit is usually seen … Read more
Key Takeaways Loan/lease payoff insurance will pay up to 25% of your vehicle’s current cash value after your insurance company has paid you if the vehicle is stolen or totaled. Your insurer must declare the vehicle a total loss. You can usually add loan/lease payoff coverage to your auto insurance coverage at any time. There’s … Read more
Definition and Examples of High-Value Home Insurance High-value home insurance is a type of homeowners insurance that is designed for homes with high market value. A high-value home is defined as property worth $750,000 or more. Homes that fall into this group might include heritage homes, or homes with special architectural or interior design elements. … Read more
Key Takeaways Title insurance can protect both buyers and lenders from financial losses that may occur after a home sale. Lenders require borrowers to purchase title insurance to help protect their investment. A homebuyer must purchase separate owner’s title insurance to protect their legal rights to a property. Your title insurance company will handle future … Read more