Credit history – KR2K http://kr2k.com/ Wed, 12 Jan 2022 00:30:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.8.1 https://kr2k.com/wp-content/uploads/2021/08/icon-150x150.png Credit history – KR2K http://kr2k.com/ 32 32 FPL Technologies Raises $ 75 Million at $ 750 Million Valuation https://kr2k.com/fpl-technologies-raises-75-million-at-750-million-valuation/ Wed, 12 Jan 2022 00:30:00 +0000 https://kr2k.com/fpl-technologies-raises-75-million-at-750-million-valuation/ Bangalore: Credit-based fintech, FPL Technologies, which operates the OneScore credit scoring platform and issues OneCard credit cards, said on Tuesday it had raised $ 75 million in its new Series C fundraiser. , at a post-silver valuation of $ 750 million. The round was led by existing investors – QED Investors, Janchor Partners, Sequoia Capital […]]]>
Bangalore: Credit-based fintech, FPL Technologies, which operates the OneScore credit scoring platform and issues OneCard credit cards, said on Tuesday it had raised $ 75 million in its new Series C fundraiser. , at a post-silver valuation of $ 750 million.

The round was led by existing investors – QED Investors, Janchor Partners, Sequoia Capital India, Matrix Partners and Hummingbird Ventures.

The company now plans to use the proceeds from the further increase to double its team size, hire in marketing and engineering functions, expand its existing product line, and consider geographic expansion.

The current funding comes just 10 months after the company raised its $ 35 million Series B funding, he said. With this round, FPL Technologies has raised a total of $ 125 million in equity since its inception.

Founded in 2018, FPL Technologies operates the digital credit scoring platform, OneScore, and has a total of 10 million registered users, using the solution. Its flagship offer includes a physical and virtual credit card, OneCard, which it issues in partnership with banks.

He launched the OneCard offer in June 2020, in the midst of the covid pandemic.

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The startup has partnered with nearly five Indian banks, including Federal Bank, South Indian Bank, SBM India as well as IDFC Bank to name a few. He plans to add 4 other banking partners in the coming months.

Currently, FPL Technologies has 250,000 OneCard customers and facilitates spending of nearly Rs.450 crore on a monthly basis, across its user base. It plans to increase issuance to 1 million cards by the start of October this year.

Unlike several other ‘buy now, pay later’ card issuers, such as Uni, Slice and LazyPay, FPL Technologies says it works directly with banks to issue these cards and disburse credits, instead of working with credit cards. non-bank financial corporations (NBFC).

“There is a large market for credit cards, with 80 to 90 million Indians eligible for a credit card. This is why our investors are excited about this opportunity. Currently, most of our clients come from our OneScore engine and already have a credit history. We will focus on scaling our product portfolio over the next 6-8 months, ”said Anurag Sinha, co-founder and CEO of FPL Technologies during an interaction with ETtech.

Sinha added that the company is still in talks with new investors to increase its next round.

FPL Technologies also launched its OneCard Secured loan product three months ago as it seeks to attract new customers for credit. The product, which was launched in association with SBM India, allows users to obtain credit on their term deposits.

Average lines of credit for FPL’s OneCard secured loan product is around Rs 25,000. For its unsecured loan product, line of credit limits can be up to Rs 1 lakh, Sinha said.

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Refugees need more homes – Albuquerque Journal https://kr2k.com/refugees-need-more-homes-albuquerque-journal/ Mon, 10 Jan 2022 04:02:22 +0000 https://kr2k.com/refugees-need-more-homes-albuquerque-journal/ Zac, an Afghan refugee, moved to New Mexico with his family and settled down with the help of the placement assistance provided by Lutheran Family Services. Currently, there is a serious shortage of accommodation for refugees.(Roberto E. Rosales / Albuquerque Journal) Copyright © 2022 Albuquerque Journal Zac is one of the lucky ones. The 32-year-old […]]]>
Zac, an Afghan refugee, moved to New Mexico with his family and settled down with the help of the placement assistance provided by Lutheran Family Services. Currently, there is a serious shortage of accommodation for refugees.
(Roberto E. Rosales / Albuquerque Journal)

Copyright © 2022 Albuquerque Journal

Zac is one of the lucky ones.

The 32-year-old Afghan refugee – technically a “humanitarian parolee” – spent three months at US Army Fort McCoy in Wisconsin before being transferred to Albuquerque, where he and his family were able to settle in a apartment rented with assistance from Lutheran Family Services.

LFS currently makes almost all housing placements for refugees who come from a number of countries – but these placements are becoming increasingly difficult.

The huge demand and shortage of housing in Albuquerque has caused a severe housing shortage.

In addition, LFS is trying to help a large influx of Afghan refugees. Normally, over the course of a year, LFS would place around 100 refugees from various parts of the world. He is currently trying to accommodate around 100 per month, most of them from Afghanistan.

In Afghanistan, Zac worked as a sales representative for a telecommunications company and as a financial analyst for a construction company before working as a translator for the US military forces there. When the US military left Afghanistan and the Taliban became the de facto government, Zac, his wife, and their 3-year-old daughter fled the country, expedited by a special immigrant visa.

Like many Afghan refugees, Zac is reluctant to use his full name or show his face in photographs due to uncertainty over the Taliban’s reach and fears of reprisals against family members still living in the country.

As he finds solace in the familiarity of Albuquerque’s desert landscape, which resembles much of his homeland, Zac said he was not completely comfortable in his southeast apartment. from the city.

Grateful to have a roof over his head, he said, there is no escaping the reality that the place where he lives “is not in a good neighborhood” .

Indeed, the neighborhood where Zac is housed is recognized by the police as having a high rate of crime, violence and drug addiction. Because of this, Zac said he had to turn down a job offer at a big box store that would have required him to work late at night and leave his wife and child alone.

“It was far away and I should have walked because I don’t have transportation,” he said.

LFS is currently helping him with his job search and providing him and other refugees with additional support, said Jeff Hall, program manager for economic development. This support takes the form of food, mental health services, assistance in opening a bank account and in acquiring a driver’s license and state identity card. The organization also helps access certain government benefits and offer English as a second language programs, financial literacy and job skills, he said.

“We have an employment program that allows us to find jobs relatively quickly, especially if they have permanent housing,” Hall said. “Our average time between the date of arrival and obtaining their first job is two months. “

LFS provides refugees, on average, 90 days of housing assistance, during which time refugees should have been placed in employment and generated enough income to start paying their own housing expenses, Hall said. They can continue to receive other services through LFS.

Greatest need

LFS is primarily funded by the Office of Refugee Resettlement, which is part of the US Department of Health and Human Services. Funding is based on a per refugee formula. But this formula does not help in the search for accommodation.

Jeff Hall

“So the problem now is finding available accommodation,” Hall said. “We have different community partners that we work with and we are able to bring people into these houses, but the challenge is to work with new partners and find more housing, because the need is so much greater than that. that our current partners have available. space.”

The greatest need is housing for the very large refugee families – in some cases eight to twelve family members, Hall said. “It means we need houses with four, five or more bedrooms. You just can’t fit 10 people in a two bedroom house with one bathroom.

In addition to issues regarding family size, the refugee population has additional hurdles to overcome, Hall said. “A lot of them come in with no credit history, no rental history, no work history, with limited English ability, and they’re competing for limited accommodation against other applicants who have all of these things.”

This competition often affects area residents who qualify for public housing or the Section 8 Housing Choice Voucher program, as well as low-income individuals moving to Albuquerque from larger states where the housing has become even more unaffordable, Hall said.

Until accommodation can be found, LFS accommodates families in short-term Airbnb rentals and in buildings owned by churches of different denominations that have bathrooms and have been furnished with beds and appliances. laundry, Hall said.

“The funding we got is housing that we need. “

“Limited inventory”

Linda Bridge, executive director of the Albuquerque Housing Authority, said there is a “limited inventory” of housing for the placement of refugees, especially for “low-income people.” (Roberto E. Rosales / Albuquerque Journal)

The Albuquerque Housing Authority, which manages Section 8 and public housing programs for the City of Albuquerque, Bernalillo County and Rio Rancho, is also feeling both supply and demand pressures. Over the past six months, they have seen more requests for housing voucher extensions because people could not find rental accommodation and therefore could not use their vouchers, said executive director Linda Bridge. .

“I believe it is linked to the escalation of house prices in the market. There is limited inventory for single family homes and increasing prices for those properties, ”Bridge said.

Single family homes that people used to rent are now being bought for the top price, resulting in a loss of rental inventory. This is putting pressure on the rental market with increased demand for the remaining rental units – and higher rental prices, Bridge said.

“It makes it harder to use housing vouchers because we have limits on how much we can subsidize,” she added. “It’s especially difficult for low-income people who can’t afford market rent and rely on housing subsidies to help them. “

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For Young Adults, Credit Building Begins Now https://kr2k.com/for-young-adults-credit-building-begins-now/ Sat, 08 Jan 2022 13:34:00 +0000 https://kr2k.com/for-young-adults-credit-building-begins-now/ Sooner than you think, your credit score will start to count. A good credit score can be the difference between qualifying for or missing out on a low-interest apartment or car loan. So, to get credit ready when you need it, now is the time to start building a good, long credit history. There is […]]]>

Sooner than you think, your credit score will start to count.

A good credit score can be the difference between qualifying for or missing out on a low-interest apartment or car loan. So, to get credit ready when you need it, now is the time to start building a good, long credit history.

There is more than one way to get credit, and it can be as simple as reporting your current bill payments to the major credit bureaus. But keep in mind: building credit takes diligence, especially since missing payments can hurt your score for years to come.

What is credit and why is it important?

Your credit score is a number that typically ranges from 300 to 850 and is calculated based on how reliably you have paid off past debts, such as credit card bills. Lenders use your credit score to predict the likelihood of you paying off your debt.

Your credit score helps determine what loans you can receive, what interest you will be charged, what credit cards you can qualify for, and what properties you can rent. An employer can even check your credit history. Having a good credit rating can save you money down the road, mainly through lower interest rates when you get a loan.

If you are starting out with no credit history, you are not alone. In the United States, nearly 40% of people aged 20 to 24 have little or no credit history to generate a score, according to the Consumer Finance and Protection Bureau. Unfortunately, the same is true for around 20% of the population.

Building up your credit can seem overwhelming if you haven’t thought about it before, but there are plenty of strategies you can employ even if you’re just getting started. Start by establishing good debt management habits, such as not taking on more debt than you can afford, says Brittany Mollica, a certified financial planner based in Chapel Hill, North Carolina. Missed payments will damage your score and can become a burden when you need to borrow money in the future.

“It’s really important to have good habits to always pay your bills,” says Mollica. “You don’t want to have to come out of a hole with all kinds of credit card debt you’ve racked up, especially by starting early.”

Credit cards – and alternative cards

Credit cards can be a great tool for building credit, but they can also hurt your score if you take on more debt than you can handle.

If a parent or other trusted person in your life has a high credit limit and a long history of timely payments, you could become an authorized user on their account and benefit from their good credit. It’s one of the easiest ways to lengthen your credit history, says Blaine Thiederman, a certified financial planner in Arvada, Colorado.

Becoming an authorized user will also affect your credit utilization rate, or the amount of money you owe lenders divided by the total credit you have, which can improve your credit score.

If you have your own income, you can apply for a credit card at the age of 18; otherwise, you have to wait until you are 21. A secured credit card is usually the best credit card to start with. A cash deposit secures these cards, and because the credit card company may accept this deposit if you miss payments, people with short or poor credit histories may be eligible.

The deposit you need to make for a secured credit card could be a burden, and if so, another card could be better for you. These cards use income and bank account information to determine your creditworthiness rather than your credit score.

Monthly invoices

If you live independently, payments for rent, utilities, and phone bills can all be reported to the credit bureaus. So paying those bills can boost your credit if they’re on time and you’ve reported them.

Unlike credit card payments, these payments are not flagged automatically and may require a third-party service, such as Experian Boost, to notify the credit bureaus of your payments.

Keep in mind that these services sometimes require a fee and reporting your bill payments may not always affect your credit score; instead, they may just show up on your credit report.

Loans

Making regular loan payments can also help build your credit. And even if you don’t have a credit history, some loans are available.

Loans to credit builders rely on income rather than credit for approval. If you are approved, the loan is in a bank account and becomes available after you have paid it off. Your monthly payments are reported to the major credit bureaus.

Student loans are another loan that you can use to build your credit when you are starting out. Federal student loans do not require credit to qualify, unlike most private student loans. Paying off your loans will help boost your credit history, and you can get started while you’re still in school by making interest-only payments.

This article was written by NerdWallet and was originally published by The Associated Press.

More from NerdWallet

Colin Beresford writes for NerdWallet. Email: cberesford@nerdwallet.com.

The article For Young Adults, Building Credit Starts Now originally appeared on NerdWallet.

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4 Buy now, pay later Trends smart investors are watching in 2022 https://kr2k.com/4-buy-now-pay-later-trends-smart-investors-are-watching-in-2022/ Thu, 06 Jan 2022 14:15:00 +0000 https://kr2k.com/4-buy-now-pay-later-trends-smart-investors-are-watching-in-2022/ Buy Now, Pay Later (BNPL) loans have exploded in popularity in recent years. As more and more young adults turn to these financing options, companies like To assert (NASDAQ: AFRM), After payment (OTC: AFTP.F), and Klarna have seen their income growth accelerate. Investors should expect the industry to continue to grow rapidly. However, there are […]]]>

Buy Now, Pay Later (BNPL) loans have exploded in popularity in recent years. As more and more young adults turn to these financing options, companies like To assert (NASDAQ: AFRM), After payment (OTC: AFTP.F), and Klarna have seen their income growth accelerate.

Investors should expect the industry to continue to grow rapidly. However, there are other factors you will need to pay attention to, including increased scrutiny from regulators, as well as consumer credit rating companies paying more attention to these types of lenders. You’ll want to take a wait-and-see approach to BNPL companies as more and more competitors enter the space as well. Here are four trends savvy investors should watch out for as we head into 2022.

1. More and more online consumers will turn to BNPL

The growing popularity of BNPL options is particularly strong among millennials and Gen Z. According to a NerdWallet survey, 1 in 5 buyers used BNPL options in 2021, with 22% of those surveyed being Gen Z customers.

Not only that, but several retailers have added BNPL options over the past year, including large retailers like Target and Amazon. They turn to BNPL because they help boost sales.

In a study by Accenture and funded by Afterpay, BNPL transactions accounted for about 6% of all online spending in 2021. The consultant expects steady growth in the use of this type of funding, and the company predicts 13% of all online spending. online transactions will involve the use of BNPL loans by 2025.

Image source: Getty Images.

2. Large companies will look for their own BNPL products

One of the engines for the growth of BNPL loans is that more companies are developing their own BNPL products. A company that has grown within BNPL is Pay Pal, which in September bought out Japan-based lender BNPL Paidy for $ 2.7 billion. To block, the company formerly known as Square, is another company that caused a stir in the BNPL market by buying Australia-based Afterpay for $ 29 billion in August.

Banks can also develop in this area. According to McKinsey, banks have lost $ 10 billion in annual revenue to fintechs offering BNPL products. In September 2021, Goldman Sachs spent $ 2.2 billion to buy GreenSky to strengthen its consumer credit unit. Ruby Walia, adviser to digital banking and consultancy firm Mobiquity, told Yahoo that he expects more banks to introduce BNPL products next year, further increasing competition.

3. Regulators will increase monitoring of these loans

With BNPL’s popularity exploding among young adults, the Biden administration will likely take a more critical stance towards these companies. The Consumer Financial Protection Bureau (CFPB), established under former President Barack Obama, has asked BNPL companies, including Affirm, Afterpay and PayPal, to provide the agency with information on the risks and benefits of BNPL options.

One problem is that BNPL products have less protection than credit cards. For example, returning goods or disputing fraudulent or erroneous charges made under BNPL programs can be much more difficult. The CFPB is also concerned about the amount of debt consumers accumulate and the amount of data collected on their spending habits.

These BNPL companies have until March 1 to submit this data, which could lead to increased scrutiny of their business practices.

A hand holds a phone that displays a credit score report.

Image source: Getty Images.

4. Credit rating companies will start including these loans on credit reports.

Finally, consumer credit rating companies will begin to pay more attention to BNPL loans, which will likely play a bigger role in credit reports than in the past. In general, most BNPL lenders do not report payment history to credit bureaus, unless the loan has been sent to a debt collector.

Credit rating company Experiential said it already includes BNPL loans in consumers’ credit reports. During this time, Equifax said he would start adding BNPL loans to consumers’ credit records from next month.

As BNPL loans are increasingly used for online transactions by young consumers, it is good to see credit rating companies paying more attention to these loans which can help people with a credit score. less than building up a credit history.

Increased surveillance is a good thing

This year should be an interesting one for the BNPL industry. Increased regulatory oversight and interest from credit rating companies will treat BNPL loans more like traditional loans. I think it could legitimize these long-term payment options while protecting consumers.

Increased competition from banks and other large companies could challenge many of these BNPL companies. In the years to come, we may see more consolidations and acquisitions in the industry, continuing the trend established last year by PayPal, Block and Goldman Sachs.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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We survived the real estate crash of 2006, but we’re struggling with an ARM 5/1 – where do we get mortgage refinancing? https://kr2k.com/we-survived-the-real-estate-crash-of-2006-but-were-struggling-with-an-arm-5-1-where-do-we-get-mortgage-refinancing/ Tue, 04 Jan 2022 16:05:07 +0000 https://kr2k.com/we-survived-the-real-estate-crash-of-2006-but-were-struggling-with-an-arm-5-1-where-do-we-get-mortgage-refinancing/ Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to give you the tools and the confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are ours. The Credible Money Coach discusses options […]]]>

Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to give you the tools and the confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are ours.

The Credible Money Coach discusses options for refinancing a variable rate mortgage. (Credible)

Q. Dear Credible Money Coach,

We have been in our house for 16 years as the original owners. We got through the disaster of 2006 and were able to keep our mortgage. However, we are trying to refinance our mortgage – an ARM 5/1 that adjusts every six months. I am a nurse and my husband has recovered from COVID. We are trying to refinance, but seem to have no help. Our FICOs are 629, our LTV is 76%, and we make $ 115,000 a year, but we still don’t seem to be getting any help. We are a family of 8 and take care of our 86 year old stepfather. Where can we get the help we need to keep our house? – Valarie

A. Hello Valarie. Thanks for your question – and for being a frontline hero! There is a lot to unpack in your question, but let’s start with the aspect that concerns me the most – what type of ARM you have.

You say you have an ARM 5/1 (variable rate mortgage) that adjusts every six months. The “5” in the name of the mortgage product indicates that your introductory period – with its low interest rate – was five years. The “1” is meant to mean that after the five-year introductory period is over, your rate will only adjust once a year.

If your lender adjusts your rate every six months, you might not have an ARM 5/1. It could be an ARM 5/6 – these adjust every six months.

Mastering ARMs

Your first step should be to check out exactly what type of loan you have. You should confirm this with your lender. A 5/6 loan can be very risky because the rate can go up to the point where it becomes difficult to make your monthly mortgage payment.

But if you do have an ARM 5/1 and your lender treats it like an ARM 5/6, you should contact them immediately to rectify the situation. If you don’t get quick satisfaction, you can file a complaint with the Consumer Financial Protection Bureau.

Things that can get in the way of refinancing

Valarie, you are not saying whether you have already applied for refinancing and have been refused. But there are some common obstacles that can prevent you from getting mortgage refinance.

  • A high LTV – Your LTV, or loan-to-value ratio, compares the amount you want to borrow and the appraised value of your home. A high LTV (usually 80% or more) can cause a lender to perceive you as a riskier borrower because you don’t have a lot of equity in your home. They think you might be more likely to walk away if you can’t make your mortgage payments later. But with an LTV of 76%, that may not be a problem for you.
  • Bad or no credit – If you have a bad credit or little credit history, it can be difficult to qualify for certain types of credit. At 629, your score might be considered fair, but most lenders want to see a score of 620 or better for a conventional loan. Having said that, there is mortgage options for people with a lower credit score.
  • A high DTI – The DTI, or debt-to-income ratio, compares your gross monthly income to your total monthly expenses to get an idea of ​​how much of your monthly income has already been used. If your DTI is too high, lenders may fear that you will have to face the additional expense of a mortgage payment.
  • The amount you want to borrow – Whether you want to borrow a lot or a little, the loan amount can be a barrier. If you have to borrow a very large amount, lenders might want you to have a higher credit score. If you have to borrow a smaller amount, lenders may think that they cannot get enough profit from the loan.

Possible refinancing options

Even if one or more of these obstacles stand in your way, you may still have options for refinancing.

If your credit rating is affecting your ability to get a conventional loan, you may want to consider FHA refinancing. There are different types of FHA refinance loans available, and not all of them require that your original loan be FHA backed in order to qualify for the refinanced loan. Under certain circumstances, you can get an FHA loan with a credit score in the 500s.

If the loan amount you need to borrow is too small to be attractive to lenders, you may want to consider a loan refinancing of collection, where you take out a new mortgage for more than you owe on the old one and pocket the difference in cash. But be careful. Increasing your loan amount could result in a higher monthly payment, although you may get a significantly lower interest rate.

One way to reduce the interest costs of a refinance withdrawal would be to put the extra money in a savings account and use it to double your monthly payments. This will allow you to pay off the new loan more quickly, thus reducing the total interest charges over the life of the loan.

One last word…

Right now, lenders don’t hurt business, so it’s no surprise that you have a hard time finding one who is willing to work with you. Shopping around to compare rates and options from different lenders could help point you in the right direction.

You can check your prequalified rates for free, without affecting your credit, when you use Credible to compare rates from multiple lenders.

Ready to learn more? Discover these articles …

Need Credible® advice on a money issue? Email our credible money coaches at moneyexpert@credible.com. A Money Coach could answer your question in a future column.

This article is intended for general informational and entertainment purposes. The use of this website does not create a professional-client relationship. Any information found on or derived from this website should not be used as a substitute for and should not be construed as legal, tax, real estate, financial, risk management or other advice. If you require such advice, please consult a licensed or competent professional before taking any action.

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About the Author: Dan Roccato is a Clinical Professor of Finance, School of Business, University of San Diego, Credible Money Coach personal finance expert, published author and entrepreneur. He has held leadership positions with Merrill Lynch and Morgan Stanley. He is a recognized expert in personal finance, global securities services and corporate stock options. You can find it on LinkedIn.

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Colorado disaster declared after “Apocalypse-like” fire https://kr2k.com/colorado-disaster-declared-after-apocalypse-like-fire/ Sat, 01 Jan 2022 00:05:32 +0000 https://kr2k.com/colorado-disaster-declared-after-apocalypse-like-fire/ Video transcription Return transcription No deaths reported in Colorado wildfires Thursday’s rapid fire burned more than 6,000 acres and forced thousands of residents to evacuate. “During the night, the firefighters continued their mitigation efforts. Good news, we still have no reports of casualties or deaths. The only missing person we had last night has been […]]]>
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No deaths reported in Colorado wildfires

Thursday’s rapid fire burned more than 6,000 acres and forced thousands of residents to evacuate.

“During the night, the firefighters continued their mitigation efforts. Good news, we still have no reports of casualties or deaths. The only missing person we had last night has been found and is fine. So that’s great news and actually, I think, given the events we had yesterday, quite miraculous. We know that power lines fell in the area where the fire started. The origin of the fire has not been confirmed. It is suspected that these are power lines. But we’re investigating this today, and we have people on the ground as we speak who are trying to identify that cause. “It touched close to home for many of us, literally in some cases, for those of us who live nearby. But also in terms of the fire that was not a wildfire in the forest, it was a suburban and urban fire. The Costco, we all do our shopping, the target where we buy our children’s clothes, all surrounded, damaged. Nearly 1,000 homes in two beautiful, tight-knit communities in our state have disappeared. “

Thursday’s rapid fire burned more than 6,000 acres and forced thousands of residents to evacuate.CreditCredit…Erin Schaff / The New York Times

BOULDER, Colo .– A windswept wildfire that ravaged suburban neighborhoods between Denver and Boulder on Thursday, forcing the evacuation of thousands, may have destroyed between 500 and 1,000 homes, authorities said Friday morning , making it the most destructive outbreak in the history of the state.

The blaze, as intense as it was sudden, prompted tens of thousands of Boulder County residents to leave department stores and homes Thursday as fire trucks swarmed the area. Although forest fires were considered less threatening in suburban areas, particularly in December, a period of intense drought had created the conditions for the flames to spread, destroying homes, a shopping complex and a hotel.

“It looked like the apocalypse,” said Ruthie Werner, a resident of Louisville, Colorado, who had gone shopping at a Target store but arrived to find the parking lot on fire.

Gov. Jared Polis told a news conference that President Biden approved an Expedited Major Disaster Declaration, which allows those who have lost their homes or small businesses to get help before the preliminary damage assessment is carried out. He said schools and major hospitals in the area have been spared.

As Mr Polis toured the damage by helicopter on Friday, a video posted by a local television station showed how the flames struck seemingly at random. A house in a cul-de-sac would be destroyed, while the others appeared to be intact. In one neighborhood, a row of about 10 still smoking piles of rubble adjoined other houses that appeared to have escaped serious damage.

Despite the destruction, no deaths have been recorded, a figure Mr Polis said at the press conference would be a ‘New Year’s miracle’ if held up.

“It wasn’t a wildfire in the forest, it was a suburban and urban fire,” said Mr. Polis, a Democrat who lives in Boulder County. “The Costco where we all buy, the target where we buy our children’s clothes – all damaged.”

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A period of intense drought created the conditions for the flames to spread to areas between Denver and Boulder on Thursday, destroying homes, a shopping complex and a hotel.

The blaze, which started late Thursday morning, burned in a “mosaic” fashion, encouraged by winds of 105 miles per hour. It burned down about 6,000 acres, said Boulder County Sheriff Joe Pelle, who added damage assessments were still ongoing on Friday. Authorities suspect the blaze was caused by a failed power line, but this has not been confirmed, he said.

Much of the fire has been contained, only a few parts of Boulder County still nunnery, he said. Heavy snowfall was forecast for Friday, which would help contain the blaze but could also cause pipes to freeze, officials said.

Louisville and Superior, both located about nine miles east of Boulder, suffered the most “catastrophic” losses, he said. Residents of those towns were ordered to evacuate on Thursday, as were residents of the nearby towns of Broomfield and Westminster.

Although there has not been an immediate official tally of the number of people ultimately displaced, around 200 people are currently staying in emergency shelters in the county, Polis said.

Evacuees fled areas of fire under plumes of smoke that darkened the sky for miles on Thursday, unsure if their homes would stay overnight. The roads and highways in the Denver metro area were congested with thousands of residents trying to flee.

“It took us almost an hour to get out of our neighborhood – it was full traffic jam,” said John Stein, who was walking his dog in Superior when he saw smoke in the neighborhood and heard sirens.

Thomas Maxwell, 25, said he was unsure on Thursday whether his parents’ house in Louisville was still standing. Mr. Maxwell, who lives in California, had kept a dog for them while on vacation in Spain. He woke them up with a midnight call to tell them that he had evacuated to a hotel with their two dogs.

“It was crazy how quickly it happened,” said Maxwell. “I read about forest fires in California all the time. Now I am living it. It is so different.

Wildfires in the American West have worsened – bigger and bigger, spreading faster, and reaching mountainous elevations that were once too wet and cool to withstand heavy fires. What was once a seasonal phenomenon has become a threat year-round, with fires burning later in the fall and winter.

Recent research has suggested that the heat and drought associated with global warming are the main reasons for the increase in larger and more intense fires, as precipitation regimes have been disrupted, snow melts earlier, and grasslands and grasslands. forests are burnt.

Colorado experienced the three largest wildfires in its history in the summer of 2020, each burning more than 200,000 acres, Polis said. But those fires burned forests and federally owned land, he said, while Thursday’s fires destroyed suburban developments and shopping malls.

“As a millennial, I just look outside and see climate change,” said Angelica Kalika, 36, of Broomfield. “I see my future. I grew up in Colorado, and it’s a place where I had snowy Christmases and a beautiful 60 degree summer. But, for me, it’s a moment of deep awareness of climate change when there is a forest fire outside my door. “

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A financial ‘blockbuster’ year fueled by death and disease https://kr2k.com/a-financial-blockbuster-year-fueled-by-death-and-disease/ Thu, 30 Dec 2021 04:49:03 +0000 https://kr2k.com/a-financial-blockbuster-year-fueled-by-death-and-disease/ The numbers arrive for 2021, indicating that this is sure to be one of the greatest years of financial madness of all time, fueled not by a surge in the economy, but by a feed of death and death. cheap money. Earlier this month, the Bank of America reported that, according to its calculations, central […]]]>

The numbers arrive for 2021, indicating that this is sure to be one of the greatest years of financial madness of all time, fueled not by a surge in the economy, but by a feed of death and death. cheap money.

Earlier this month, the Bank of America reported that, according to its calculations, central banks had injected $ 32 trillion into financial markets since the start of the COVID-19 pandemic, increasing global market capitalization by 60 trillion dollars.

Other data tells the same story.

the Financial Time (FT) reported this week on what one financial analyst called a “blockbuster” year as companies around the world raised $ 12.1 trillion by selling stocks and taking out loans to the following a “torrent of central bank stimulus”.

A sign for a Wall Street building on Wednesday, May 19, 2021, in New York City (AP Photo / Mark Lennihan)

This is up almost 17% from 2020, which was itself a record year, and almost a quarter above the 2019 level before the pandemic. More than $ 5,000 billion was raised in the United States, where the S&P 500 index hit a new record yesterday, its 70th for the year. The Dow Jones also hit a new record, its sixth consecutive daily rise and the longest streak of rise since March. The last ascent has been described as a “gathering of Santa Claus”.

But the reality is that Christmas has come every day of the year for the financial oligarchy in the form of Father Fed, as millions have lost loved ones or been stricken with disease.

The debt-fueled frenzy, fueled by largesse from central banks, is also illustrated by the data on subprime lending. According to Leveraged Commentary and Data (LCD) published by S&P Global Market Intelligence, reported by the FT, around a third of leveraged loans were sold to investors under conditions considered risky by financial authorities.

At the end of November, 33% of the 954 leveraged loans issued at that time for the year had a debt-to-earnings ratio above six, according to figures from LCD. Leverage loans are those made to companies that have significant debt and are considered to have a bad credit history.

The ratio of six was established by US regulatory authorities in 2013 as a guide for leveraged loans, not as a formal rule. The guideline said that “typically” debt greater than six times more than earnings before interest, taxes, depreciation and amortization “is a concern for most industries.”

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How young people can build their credit https://kr2k.com/how-young-people-can-build-their-credit/ Tue, 28 Dec 2021 13:00:59 +0000 https://kr2k.com/how-young-people-can-build-their-credit/ Dear Liz: Our 23 year old daughter has a low limit credit card from her bank, mainly to establish her credit history. For the same purpose, we have also added it as an authorized user on one of our credit cards (yes, we can trust it). When she recently checked her credit reports on annualcreditreport.com, […]]]>

Dear Liz: Our 23 year old daughter has a low limit credit card from her bank, mainly to establish her credit history. For the same purpose, we have also added it as an authorized user on one of our credit cards (yes, we can trust it). When she recently checked her credit reports on annualcreditreport.com, one of the agencies produced a report, but another claimed they couldn’t find it. Is this normal for a relatively new credit user? Could it be because she has a middle name made up of a hyphen? Should we be worried?

Responnse: It may take 30 days or more for the information to update at the credit bureaus, so she should try again and check the third credit bureau as well. If two offices cannot find it after 30 days, then it is possible that both credit cards fall under one office. In this case, she should consider obtaining a credit loan from a credit union under the three bureaus.

If not, the problem is probably with the credit bureau, and she should try ordering the missing credit report through the US Mail. The office that could not find it will have instructions for requesting a report this way on its site.

When retirement takes precedence over Social Security

Dear Liz: I am in my third marriage. My first two marriages lasted 10 years each. My spouses have worked in jobs requiring them to contribute to social security. I am currently retired (since 1999) and have worked for a municipal administration my entire career. I am currently receiving a city pension. Am I entitled to receive anything from Social Security during the time I was married to my previous spouses? It seems fair since I had to pay each of them spousal support.

Responnse: This is a new argument! Sadly, the Social Security system doesn’t care about the details of your divorce judgments.

You can call Social Security and ask if you are entitled to a benefit, but don’t be hopeful if your pension comes from a job that did not contribute to Social Security. A provision known as Government Pension Compensation would likely wipe out any Divorced Spouse or Divorced Survivor Benefit you might receive.

Add a sister to a property deed

Dear Liz: A reader recently asked about the possibility of giving a rental house to the sister who has lived there for 10 years. You mentioned that the reader should file a donation tax return since there is a maximum of $ 15,000 for a donation exemption. Couldn’t the owner just add the sister to the title so that when they pass the sister becomes the sole owner of the house without having to deal with taxes, probate etc. ? Likewise, if the sister dies first, the current owner will keep the property to give, sell, give as he sees fit.

Responnse: Adding the sister to the deed would be considered a donation, so the reader would still have to file an income tax return.

Owning the house together would bypass probate and give the surviving sister a tax break, and that half of the house would get what is known as an increase in the tax base upon the death of the first sister. Another option, if the reader wishes to retain ownership, would be a death transfer deed, available in many states. The reader was clear that she wanted to give an outright gift, but she could consult with a lawyer specializing in real estate or estate planning about other options.

Taxes on retirement account withdrawals

Dear Liz: I would like to give money to my grandchildren, but I don’t want to pay income tax on my IRA or 401 (k) withdrawals. Will they get it tax free when I die?

Responnse: Unfortunately no.

Withdrawals from retirement accounts are generally taxable whether the person making the withdrawals is the original contributor or an heir. In addition, non-spouses who are beneficiaries of retirement accounts generally have to withdraw the money within 10 years.

Liz Weston, Certified Financial Planner, is Personal Finance Columnist for NerdWallet. Questions can be sent to him at 3940 Laurel Canyon, No. 238, Studio City, CA 91604, or by using the “Contact” form at asklizweston.com.

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The more this 6.8% Monthly Dividend REIT goes down, the more I buy https://kr2k.com/the-more-this-6-8-monthly-dividend-reit-goes-down-the-more-i-buy/ Sun, 26 Dec 2021 14:35:00 +0000 https://kr2k.com/the-more-this-6-8-monthly-dividend-reit-goes-down-the-more-i-buy/ EPR properties (NYSE: EPR) was one of the hardest hit real estate investment trusts (REIT) by the pandemic. The emphasis on owning experiential properties like cinemas and other attractions has hurt her over the past couple of years. Many of its tenants are struggling to pay their rent, which has impacted the company’s cash flow. […]]]>

EPR properties (NYSE: EPR) was one of the hardest hit real estate investment trusts (REIT) by the pandemic. The emphasis on owning experiential properties like cinemas and other attractions has hurt her over the past couple of years. Many of its tenants are struggling to pay their rent, which has impacted the company’s cash flow.

As rent collection rates have steadily recovered, a resurgence of the pandemic has weighed on the REIT’s share price in recent months, pushing it down more than 16% from its peak. However, the lower the shares, the more I buy. Here’s why.

Image source: Getty Images.

We thirst for experiences

The pandemic has been difficult for most people. We want to connect with others and share our experiences. This has been evident this year as spending on experiments has risen sharply as widely available vaccines and therapies have made more people comfortable going out and enjoying the experiments again. In a single example, the last Spider Man The film recently landed the second-highest opening weekend in box office history.

That makes the game of EPR Properties. It has the largest experiential real estate portfolio, including theaters, restaurants, games, skiing, attractions, experiential accommodation, games, cultural, fitness and wellness venues.

As people flock to have the experiences again, EPR tenants have the money to pay the rent. The company’s rental collection rate rebounded to 90% in the third quarter (from a low of 21% in the second quarter of 2020), and it expects to collect 95 to 97% in the fourth quarter. Meanwhile, tenants are regularly paying off rent that the business deferred during the pandemic.

Collections could be closer to 100% again in 2022. In many cases, recent non-theatrical performance has surpassed pre-pandemic levels. Meanwhile, a solid film roster is slated for 2022, which should lead to continued box office success. This should allow these tenants to pay rent.

Financial flexibility to develop

Another reason I am increasingly optimistic about the future of EPR is its financial situation. The REIT has significantly improved its balance sheet in recent quarters. It recently issued $ 400 million in low-cost debt, which, along with its cash position, allowed the company to repay a $ 400 million term loan facility and repay $ 275 million on notes maturing in 2023. As a result, it has no debt maturity until 2024.

In addition, it has an unused credit facility of $ 1 billion and cash of $ 144 million. All of this means that the rating agencies have raised its credit rating to investment grade, making it easier and cheaper to borrow money in the future.

This increased financial flexibility will allow EPR Properties to expand its portfolio of experiential properties. The company wishes to reduce its exposure to cinemas (currently 44% of its turnover) while developing its real estate portfolio outside the cinema.

The REIT spent $ 39.3 million in the third quarter on new investments, bringing its cumulative total to $ 107.9 million. Recent investments have included custom built experiential development and the acquisition of joint ventures that had an experiential accommodation project.

Overall, EPR sees a market opportunity of over $ 100 billion in experiential real estate. Target property types include casinos, golf entertainment complexes, themed accommodations, concert halls, zoos, water parks, and a host of other experiential properties. The company’s vision is to build the first experiential real estate portfolio.

Gradually widen my position

EPR Properties will benefit from the continued resumption of shared experiences. This will support the company’s attractive 6.8% return monthly dividend. To the advantage of the company is added its solid financial profile, which allows it to develop.

Future growth will further support its dividend and ultimately allow the company to increase its distribution. That’s why I am taking advantage of the current liquidation caused by new pandemic concerns to strengthen my position in what appears to be a long-term winner.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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How to get a low cost student loan https://kr2k.com/how-to-get-a-low-cost-student-loan/ Fri, 24 Dec 2021 16:20:51 +0000 https://kr2k.com/how-to-get-a-low-cost-student-loan/ The most important criterion in choosing a student loan is the cost. Most borrowers prefer a lower cost loan. The main factors that affect the cost of a student loan are the interest rate and the repayment term. Student loan debt is inevitable, as more than two-thirds of students … [+] student loan debt. So […]]]>

The most important criterion in choosing a student loan is the cost. Most borrowers prefer a lower cost loan. The main factors that affect the cost of a student loan are the interest rate and the repayment term.

The cost of a student loan

The cost of a loan depends on the interest rate, loan fees, discounts and rewards, frequency of interest capitalization, loan cancellation options, and repayment term.

A higher interest rate means a higher cost. A lower interest rate means a lower cost. However, borrowers should prefer fixed rates when interest rates are low, even if fixed rates are higher than variable interest rates, as a variable rate has no choice but to increase. A lower variable rate can save money, but only if you pay off the debt in full before the interest rates rise too much.

There is a trade-off between interest rates and loan fees. A 1% increase in the interest rate is equivalent to a 4% increase in loan fees over a 10-year repayment term. Thus, a loan with 4% fees and 9% interest costs more than a loan with 5% fees and 8% interest.

Canceling the loan can lower the cost of a student loan, but most borrowers will not qualify. Even when a borrower is eligible for a loan forgiveness, some loan forgiveness programs require the borrower to repay for 20 or 25 years, which increases the total cost of the loan.

Overall, the frequency of interest capitalization has little impact on the cost of a student loan. If the interest on a 5% loan is capitalized monthly, it increases the effective interest rate for a 12-month tolerance period of about 0.1% compared to a loan that capitalizes the interest once, at the end of the tolerance period.

Impact of the repayment term on the cost

The repayment term can have a big impact on the cost of a student loan.

When comparing the cost of two loans, consider both the monthly loan payments and the total payments over the life of the loan. Differences in repayment terms can affect the total interest paid over the life of the loan, not just the monthly loan payment.

A shorter repayment term will reduce the total loan repayments, but will increase the monthly loan payment. Likewise, a longer repayment term will reduce the monthly loan payments, but increase the total loan payments.

For example, a 5-year repayment term has total payments 11% lower than a 10-year repayment term, assuming an interest rate of 5%, but the monthly payments are more than three-quarters higher. A 20-year repayment term has monthly payments that are about a third lower than a 10-year repayment term, but total payments that are about a quarter higher. A 30-year repayment term halves the monthly payments compared to a 10-year repayment term, but increases total payments by more than 50%.

It is not always possible to use the same repayment term to compare loans with different interest rates. In a rising rate environment, fixed rate loans will require a shorter repayment term for lower interest rates.

Use a student loan calculator to compare both the monthly loan payment and the total payments over the life of the loan.

The annual percentage rate, or APR, combines the impact of the interest rate and fees for a specific repayment term. Although the APR is intended to make it easier to compare loans, the APR only works well when the two loans have the same repayment terms. When the repayment terms differ, the longer repayment term will result in a lower APR, even though the loan with the longer repayment term will cost more.

Shop for the best loans

The lowest advertised interest rate is not necessarily the interest rate you will get. In fact, more borrowers get the higher advertised interest rate than the lower. Only borrowers with excellent credit scores will qualify for the lowest interest rates.

Lenders don’t publish their interest rate formulas, so you’ll have to apply for multiple loans to find the one that gives you the best interest rate and fees.

Generally, federal student loans offer the lowest cost and the best combination of repayment terms for most borrowers. They are not dependent on the borrower’s credit scores or income, unlike private student loans. The Federal Stafford Unsubsidized Loan and Federal PLUS Loan are not dependent on demonstrated financial need. Even wealthy students can avail of these loans. The Federal Stafford loan is less expensive than the Federal PLUS loan.

Apply for private student loans with a creditworthy co-signer

Apply for a private student loan with a creditworthy co-signer.

Private student loans base eligibility and interest rates on your credit score and the credit score of your co-signer, whichever is greater. (Eligibility also depends on the borrower’s income, debt-to-income ratios, and length of employment with the borrower’s current employer.)

So, applying for a private student loan with a co-signer will not only increase your chances of getting the loan approved, but can also lower the interest rate.

Over 90% of private student loans for undergraduates required a creditworthy co-signer. These loans are approved on the basis of the credit of the co-signer, not that of the borrower, as most students have poor or no credit history.

There is, however, one caveat, which is the risk to the co-signer. Many parents mistakenly assume that co-signing a loan is giving the borrower a reference. But, it is much more than that. A co-signer is a co-borrower, also required to repay the debt. Lenders first ask the borrower for repayment, as a courtesy. But, as soon as the borrower is in arrears, the lender will start requiring the co-signer to make the loan payments.

Check Your Credit Reports Before Applying For A Private Student Loan

Errors in your credit reports can affect your credit score, which in turn affects the interest rates you pay.

Check your credit reports for errors before applying for a private student loan.

You can get your credit reports for free at annualcreditreport.com.

If you find any errors, you can correct them by disputing them. The lender has 30 days to correct an error or confirm its accuracy.

You should therefore check your credit reports at least 30 days before applying for a private student loan.

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