All Articles Tagged "interest"
The 2013 tax season is here, and with many close friends, family members and acquaintances offering their personal services and advice, they might overlook a few of the tax deductions you could possibly qualify for.
Filing your taxes may seem simple enough, but make sure you are getting all you deserve from the year and take note of these commonly overlooked tax deductions before filing and completing your taxes for the season.
Not all aspects of finance will ever apply to you but personal finance is something you have to deal with everyday–whether you think you are or not. It’s important that you know some personal finance basics so you understand what’s going on with your money. Here are seven very basic terms that everyone should know:
Your personal net worth is the difference between your assets and debt. A positive net worth means you have more cash flow from your resources than liabilities. A negative net worth means you owe more than you bring in.
Yesterday, Bank of America’s Countrywide Financial unit agreed to pay a record $335 million to settle civil charges that it discriminated against minority home buyers.
Countrywide Financial was accused of charging African Americans and Hispanics higher interest rates and fees and directing some to more expensive subprime mortgages between 2004 and 2008– before they were acquired by Bank of America. An investigation found a widespread pattern of discrimination against more than 200,000 people in more than 180 geographic markets across 41 states and the District of Columbia.
“These allegations represent alarming conduct – by one of the largest mortgage lenders in this country, during the height of the housing market boom,” U.S. Attorney General Eric Holder said in a statement.
The Justice Department said the money will be used to compensate victims of Countrywide’s discriminatory mortgage loans from 2004 through 2007. Their civil rights division also has about 20 other open investigations into financial institutions accused of discriminatory practices against minorities buying homes.
What do you think about the settlement?
Brande Victorian is a blogger and culture writer in New York City. Follower her on Twitter at @be_vic.