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A reverse mortgage is often promoted as a useful financial solution for senior citizens who own their homes. However, it is frequently observed that this option is not widely embraced by retirees. A range of cultural, legal, and practical factors has been identified as limiting its popularity. The reverse mortgage process is explained in this …
Before we dive into the nitty-gritty of borrowing money, let me make one thing clear: I am not an advocate for taking on debt. In fact, I firmly believe in the saying, “The borrower is a slave to the lender.” However, life sometimes throws unexpected challenges our way, and in certain situations, borrowing money might …
Transitioning from tenant to homeowner is a significant milestone in life. This journey involves understanding the financial, emotional, and practical steps to make homeownership a reality. Whether you’re a first-time buyer or looking to upgrade, knowing the essential aspects of this transition will help ensure a smooth and successful shift from renting to owning your …
Before starting this blogpost, I would like to give a disclaimer that I am not a proponent of credit cards, and hence I do not recommend buying a credit card. The purpose of this blog is to make readers aware of how to choose the best credit card for your needs, if at all you …
The number of non-performing assets in private sector banks’ portfolios of unsecured loans, which comprise personal loans and credit cards, has increased recently. In this blog-post, we will discuss some tips for those who are approaching default or are afraid that their credit score may drop as a result of missing loan payments. Avoid over-leverage: Over-leverage …
I’d like to begin this blog post by stating that I never recommend that any of you borrow money to buy a car, as you may be aware that a car is a depreciating asset and thus what you spend on it, whether out of pocket or with loan interest, is always a financial burden. …
No-cost EMIs entail an interest subvention between merchants and lenders, allowing purchasers to get EMI choices with a zero effective interest rate. Customers can purchase a product in instalments rather than making the full payment upfront, and they are not required to pay any additional interest. As a result of the staggered payments, anticipated high-ticket purchases …
We would have been seeing in newspapers and hearing about stories from our friends, relatives, and others on how people are stressed out when insistent creditors come knocking on their doors, when their parents or their dear ones have passed away, and they have left out some outstanding loans. Unfortunately, it is typical for descendants to …
Just to start with a disclaimer here, I am not a proponent of a credit card. I do not recommend people to buy credit card, as I am of the old-school follower that spend what you have in your hand, and do not spend by borrowing or taking credit. But the main objective of this …
The Finance Ministry recently penalized Public-sector Banks (PSBs) for improperly marketing products related to insurance. The Central Vigilance Commission has also warned against compelled insurance sales, claiming that the temptation of commissions from their sale might alter the overall quality of loans issued. While government bodies and its agencies are taking efforts to avoid mis-selling, customers …