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Reverse Mortgage 101: Debunking Common Myths

Posted in: Homeownership, Q&A

With so many scams targeted at the elderly, many people wonder whether reverse mortgages are a legitimate option for generating cash or simply another scheme that exploits seniors. Simply said, a reverse mortgage or Home Equity Conversion Mortgage (HECM) enables homeowners 62 years and older to convert part of their home equi...


Payday Loans or Cash Advance Stores

As the cost of everything continues to rise, many people are finding themselves running out funds before their next payday. Some are turning to payday loans or cash advance stores just to make ends meet. However, many people are not aware of the total cost of payday loans. Many payday borrowers don’t understand that a $15 or $...


How to Avoid Holiday Scams

Financial scams tend to pop up more around the holidays. Consumers are busy, buying lots of goods and more than willing to shell out extra cash for those in need. While generosity is the theme of the season, it’s vital consumers exhibit caution when making any purchase or donating to a charity. To help you stay alert and finan...


Signs of Housing Scams & Fraud

When the housing bubble burst in 2007, a slew of scam artists started targeting those who were most vulnerable – homeowners struggling to make their mortgage payments and facing foreclosure. It quickly became difficult to sort the real help from false hopes. Consumers around the country were scammed out of thousands of dollars...


Precautions for Co-signers

Lenders require a co-signer when a consumer doesn’t qualify for a loan, either due to a lack of credit history or poor credit history. A co-signer is an individual who meets the loan requirements and agrees to cover the loan payments if the borrower requesting the loan is unable to make them. The decision to co-sign a loan ...


How to Create a Workable Budget

Posted in: Money Management

One of the most effective tools for managing your personal finances is also the most overlooked. It’s the personal budget, which simply measures the amount of money coming in and the amount going out. At Take Charge America, we have found that individuals who maintain regular budgets are more likely to recognize and reverse...