News about plummeting mortgage interest rates is recently making rounds on the internet. As a new homeowner, refinancing might come to mind especially if you’re struggling with your monthly payments. However, if you are not eligible for a cash-out refinance, you may instead consider getting a Home Equity Line of Credit or HELOC.
Millennials who have plans on becoming a homeowner in a couple of years from now should work hard to improve their credit scores. While credit score provider FICO recently revealed that the median score is now pegged at 706, most millennials only have an average score of 668, which means many have “poor credit.” There are easy ways millennials can do to start improving their credit scores.
If you are concerned about protecting your financial information from identity theft and data breaches, it’s important to know your options. While credit monitoring and fraud alerts indicate suspicious activity and provide added security, they may not offer enough protection. Placing a freeze on your credit (also known as a security freeze) can add an extra layer of protection against criminal activity. Here’s what you need to know: