Forget millennials — the real financial time bomb in America is Gen X

Many Gen Xers are unprepared to retire in their 60s, according to an INSIDER and Morning Consultsurvey.
Almost half of Gen X respondents, defined as ages 38 to 53, said they have no money saved in a retirement account.
The Gen Xers were the least likely generation to say they would save or invest an extra $1,000, instead using it to pay outstanding bills and debt. 
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Retirement isn’t looking rosy for Gen X.

The cohort closest to retirement age behind baby boomers is wholly unprepared to leave work one day, according to an INSIDER and Morning Consult survey. 

Of the 4,400 Americans polled, 1,131 […] Read more

Exclusive Quicken Loans Program Unlocks Vrbo Rental Income, Which Can Now Be Used to Qualify for a Mortgage — RISMedia |

Detroit-based Quicken Loans has announced a strategic partnership with Vrbo®, a world leader in vacation rentals, to allow rental income earned through Vrbo to be used to qualify for a mortgage refinance. This program uses confirmed and documented rental income so homeowners can more accurately illustrate their full income stream. Mortgages for primary residences, vacation homes and investment properties are all eligible through this innovative new program.

For the first time, Quicken Loans clients can use income generated from offering their properties for rent as vacation homes on Vrbo to qualify for a conventional mortgage to refinance their mortgage. Traditionally, rental income […] Read more

List of Barrie’s most affordable neighbourhoods just came out, do you live in one?

If you’re looking to buy a home in Barrie, a Canadian real estate website has all the numbers and says that it is affordable for the average income family.

Zoocasa released an article to find whether home prices in each neighbourhood were aligned with incomes, the study sourced average sold prices for homes that changed hands between Jan. 1 and March 31, 2019, from the Barrie and District Association of Realtors.

The website then determined the minimum income required to qualify for a mortgage for the average home in each neighbourhood, assuming a 3.75% per cent interest rate, 20 per cent down payment, […] Read more

When Is Your Credit Score High Enough?

Easy access to free credit scores has helped many Americans improve their credit. But at a certain point, chasing every possible point gets you nothing except bragging rights.

How do you know when your credit score is high enough for you to relax?

Checking your credit score is a bit like checking your weight. You don’t need to obsess over every fraction of a pound, and an occasional indulgence (or high credit card balance) won’t do lasting damage if your habits are generally healthy.

What’s your goal?

Most credit scores are on a scale of 300 to 850. Nationally, the average credit score is […] Read more

The Skanner News – Waitlist for 5020 Condos Opens Application Opens April 22

By The Skanner News
Published: 18 April 2019

The waitlist for a new affordable condominium development for families with generational ties to North/Northeast Portland opens at 9 a.m. April 22 and closes May 3. There will be an information session with Proud Ground from 6 to 8 p.m. April 22 at New Song Community Center, 220 NE Russell Street. Registration is recommended at: www.tfaforms.com/4651670.

To qualify for ownership of these two- or three-bedroom condos at 5020 N. Interstate Ave., which will be move-in ready by 2021, individuals must:

Be first-time homebuyers and meet the income criteria;

Qualify […] Read more

Is It Still Possible To Find Rent-To-Own Properties In The GTA?

Rachel Oliver makes it her business to help aspiring homeowners, who don’t have enough for a mortgage, find a path to their dream.

The best-selling author, co-host of Mothers of Real Estate on CHCH television and real estate investor is the co-founder of Clover Properties, a company that facilitates rent-to-own arrangements for qualified candidates in Toronto.

Obviously, that makes this week’s question a no-brainer for her.

So, is it still possible to find rent-to-own properties in the GTA?

It is possible to rent-to-own almost any property in the GTA. Almost any property that is listed for sale on the MLS can work as rent-to-own […] Read more

Quicken Loans to allow short-term rental income for mortgage qualification

Quicken Loans has partnered with short-term rental company Vrbo to allow short-term rental income to be used to qualify for a mortgage refinance. Mortgages for primary residences, vacation homes and investment properties are eligible for the program.

Traditionally, rental income can only be used to qualify for a mortgage when it is earned on an investment property, as opposed to a short-term rental. This marks the first time Quicken Loans has allowed its clients to use income generated from Vrbo rentals to qualify for a mortgage. Quicken Loans is currently the only lender that allows customers to use Vrbo income to […] Read more

Why has Vrbo partnered with mortgage lender Quicken Loans?

US: North America’s largest mortgage lender, Quicken Loans, has strategically partnered with Vrbo.

The partnership will allow Quicken Loans clients to use any rental income earned through listing their vacation rentals on the Vrbo platform to be used to qualify for a conventional mortgage refinance.

The program utilises both confirmed and documented rental income so that homeowners can detail their full income stream more accurately. Mortgages for primary residences, vacation homes and investment properties are all eligible through the newly-launched program.

Typically, rental income can only be used to qualify for a mortgage when it is earned from a home that is considered […] Read more

Credit score errors after banking IT failures – Which? News

Two in three people who checked their credit report after suffering an IT glitch from their bank discovered mistakes on their record, according to a new survey by ClearScore – a financial technology business that gives UK customers free access to their credit score and report.

The worrying statistics have emerged just weeks after Which? exclusively revealed that every day at least one UK bank suffers a major IT outage.

Mistakes on your credit history could bring down your credit score, and may affect your ability to qualify for a mortgage, loan or new mobile phone contract.

Which? looks at the findings from […] Read more

Quicken Loans will now let Vrbo hosts use rental income to refinance their mortgage | 2019-04-17

A little over a year ago, Airbnb partnered with some of the nation’s largest mortgage players, including Fannie Mae and Quicken Loans, to allow hosts using the short-term rental platform to use income from their rentals to refinance their mortgage.

Now, Quicken Loans is at it again; this time partnering with Vrbo, a competing short-term rental platform, to allow users of that platform to use rental income earned through Vrbo to refinance their mortgage.

According to Quicken Loans, borrowers can use income generated from offering their properties for rent as vacation homes on Vrbo to qualify for a refinance.

Typically, only rental income […] Read more