Personal Finance Blog

Catch up on the latest credit.org news and personal finance trends.

Find your financial freedom and partner with our experts by reading the latest in personal finance advice and tips!


What is an Adjustable Rate Mortgage? Many homeowners have an ARM, or Adjustable Rate Mortgage. This kind of home loan has an interest rate that changes over time in reaction to market conditions. A common way to set the rate is to tie it to the predominant interest rates that lenders are using, like the…

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Homeownership comes with many responsibilities. You’ll be obligated to pay more taxes, maintenance and upkeep, insurance, prepare for emergencies, keep financial records, and more. It’s natural for us to constantly remind new and aspiring homeowners of all of these responsibilities. But there are many homeowner benefits as well. Benefits of homeownership: Shelter—this is one of…

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Tips for Modifying Your Loan

Here are some general tips and advice for those who are considering or who have already started on the loan modification process: Take advantage of professional nonprofit help. A HUD approved housing counselor is a great place to start. Quality counseling can help you understand your situation, weigh all of your options, and prepare yourself…

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Deferment vs. Forbearance

One often hears about deferments and forbearances when dealing with student loan debt. However, housing and mortgage-related debt can also benefit from these options, if the lender offers. These options are often spoken of in conjunction with one another, but there are some key differences to understand: What is forbearance? The lender agrees to lower…

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As a nonprofit HUD-approved housing counseling agency, credit.org has compiled important information you need to know about the new regulations. All the key compliance information you need to know is condensed into this short outline for quick reading. The Home Ownership and Equity Protection Act (HOEPA) The Home Ownership and Equity Protection Act (HOEPA) was…

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HELOC Reset Help

What is a HELOC reset? In the years 2004 to 2007 the majority of home equity lines of credit (HELOC) loans were originated for homeowners. Typically a HELOC only requires that the homeowner make the interest-only payments for the first ten years of the loan. After ten years the loan matures and now the fully…

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