For Mel Ligon and his wife, remnants of the 2008 housing crisis kept them from realizing major savings from refinancing their Chicago home during the pandemic refi boom. They had a deferred principal placed on their home during the Great Recession when they used Read More …
While artificial intelligence (AI) technology has made mortgage underwriting and insurance claims faster and easier, it could also unintentionally discriminate against protected classes. The Casualty Actuarial Society (CAS) this year acknowledged “the potential impact of systemic racism on insurance underwriting, rating and claims practices” in four research papers examining the Read More …
From remote working to the gig economy, technology has allowed workers more autonomy over their professional lives. This impact is especially evident in the music industry, when before if you didn’t have a record label contract you couldn’t make it. Now, independent artists are retaining Read More …
The Education Department (ED) opened up a beta version of its student loan forgiveness application process at studentaid.gov/debt-relief/application, offering periodic access to some borrowers who can apply ahead of the official launch. “We’re accepting applications to help us refine our processes…If you submit an application, it Read More …
Silicon Valley origin stories begin in someone’s garage or basement. For Imani Ellis, her one-bedroom Harlem apartment was the birthplace of The Creative Collective NYC and CultureCon. She invited a few friends over to talk about developing a space where creatives of color could “show up as Read More …
Hispanic Americans are less likely to carry life insurance than the average American, missing out on a key source of financial security. Only 42% of Hispanics have a life insurance policy, below the U.S. average of 50%, according to a 2022 Insurance Barometer Study supplemental report from Read More …
One of President Joe Biden’s less headline-grabbing measures to address the student loan crisis last week aims to make debt repayment more affordable for both current and future borrowers. The president is making four key changes to income-driven repayment plans to reduce monthly payments, prevent Read More …
The application for student loan forgiveness won’t be ready until October, according to a White House official, with relief coming about four to six weeks after a borrower applies. National Economic Council Deputy Director Bharat Ramamurti on Friday said to expect the application process to Read More …
Things don’t look good for the state of women’s financial well-being into retirement, especially considering that women live longer than men. And if women were expecting inheritances and gifts to help ease financial burdens, there’s a plot twist. A recent FINRA Foundation National Financial Capability Study found that Read More …
Renters across the country are feeling the brunt of housing inflation. Nearly 60% of renters said their rent increased in the past 12 months, according to a Freddie Mac survey of 2,000 Americans conducted in June and given exclusively to Yahoo Money. Nearly a third Read More …
As a key deadline looms, borrowers still face problems getting their student debt forgiven under a program for public service workers that Republican lawmakers are now targeting. Borrowers previously denied forgiveness under the public service loan forgiveness program (PSLF) have until October 31, 2022, to Read More …
Home equity is one way to create generational wealth. However, for Black and Latinx homeowners, homeownership doesn’t always render the same result. A recent study by Freddie Mac found that “minority applicants are more likely to receive an appraisal value lower than the contract price.” “The biggest Read More …