Category: INSIGHTS

Recast Mortgage: With An Infusion Of Cash, Some Banks Will Re-Amortize A Mortgage To Lower The Monthly Bill

Today’s Stock Market News – Recast Mortgage

A recast mortgage refers to a borrower who makes an additional principal payment and then asks the bank to re-amortize the loan at the existing interest rate. The result is that while the loan term remains the same, monthly payments are reduced.

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Best places to find free money. State treasuries and other agencies are holding more than $40 billion in unclaimed assets. Some of it could be yours.

Unclaimed assets, often from accounts that have been inactive for a certain period of time, can include checking and savings, payroll checks, utility deposits and tax refunds. They may also include stock certificates, certificates of deposit, insurance benefits, pension payments and safe-deposit-box contents.

Measuring inflation. How do you measure the effect of inflation on your savings? The government measures it for you and publishes the results regularly

The Consumer Price Index (CPI) tracks the prices of a variety of consumer goods and services, including transportation, medical care, and housing. The index is published monthly.

During the worst of the crisis, the Federal Reserve targeted a 2% annual growth in inflation to return the economy to health. The bank initiated various stimulus measures that were intended to boost the economy and encourage job creation.