Understanding alternative mortgage options

Finding a mortgage that works for you now — and down the road — is an important step in the home-buying process. But what if you don't qualify for a conventional mortgage? For example, if you don't have 20% of the home price to put down. Well, there are different types of mortgage loans, like those insured by the government, that may be able to help. Get an overview of some programs that could help you buy a home of your own.

Planning for extra costs when buying a home

Think you're ready to take on a monthly mortgage payment? Home ownership comes with a lot of extra expenses and upfront costs. Learn about the costs of buying a home.

Is buying a home right for you?

To rent or to buy? It's the age-old question. And the answer depends on your needs and situation. For some, owning is the best option. But for others, renting is the much smarter choice. That's why it's important to know the advantages and disadvantages of renting vs. buying to help you figure out the right answer for you.

How to be smarter with money

From Bank of America

People that are "good with money" don't necessarily have a ton of it. What they have are good habits. Need a hand getting started? These four steps can help you get smarter with your money and make a positive impact on your financial future.

How do I pay down debt?

From Bank of America

It's not easy to be in debt. And if you've ever had unsecured debt, like the kind you can build up on credit cards, you know it can be pretty tough to climb out. Luckily, there are some tried and true debt payoff plans that can help and get you moving in the right direction to start paying it down.

Understanding Credit Part 4: How to Pay Off Debt

From Bank of America

If you have multiple debts you're trying to pay off, where should you start? Sal Khan and a panel of credit experts talk about different ways you can go about paying off those debts.

Understanding Credit Part 3: How to Build and Rebuild Credit

From Bank of America

You know having a good credit score is important, but how do you build good credit? Sal Khan and a panel of credit experts share ways to build and rebuild your credit score.

Understanding Credit Part 2: How to Check Your Credit Report

From Bank of America

Knowing how to monitor your credit report and how to avoid red flags with your credit can help you keep a solid credit score. Sal Khan and a panel of credit experts will tell you how to check your credit report and pitfalls to avoid.

Understanding Credit Part 1: How Do Credit Scores Work?

From Bank of America

Knowing what credit is and how it affects you might be the most important thing you can do for your financial well-being. Sal Khan and a panel of credit experts explain credit, how your credit score is determined and the impact that your credit score has on your finances.

How do I build credit from scratch?

by Bank of America

We all want to have "good credit," even though it's not always clear how to get there; especially when you're just getting started. But with some solid first steps and a focus on paying your bills on time, you'll be on your way to building a solid credit score.

What's the difference between "secured" and "unsecured" credit?

From Bank of America 

The terms come up all the time: "secured" and "unsecured" credit. But what are the differences? We'll give examples of the two credit types, explain what they mean and highlight some of the key pros and cons of each.

What’s the difference between a credit score and a credit report?

From Bank of America

Your credit score and credit report are tied together but represent two different views of your credit history. This video will explain those differences and how you can keep tabs on both of them.

Better Money Habits - Understanding Credit

From Bank of America

Credit is instrumental to the way we live and to the way we manage our lives. Surprisingly all too few folk really understand what credit is all about.

Credit agency regulator proposed by EU

The European Union (EU) has proposed the creation of a new regulator to monitor the actions of credit rating agencies within the eurozone.

According to reports, the new European Securities and Markets Authority would have oversight for agencies operating within the territory as well as offices outside the EU. The step follows criticism leveled at agencies, which suggested the current debt crisis within the EU has been worsened by their grading.

A second piece of proposed legislation calls for an overhaul of the way banks are managed, which included analyzing how corporate boards are established and remuneration processes for top bankers.

Michel Barnier, EU financial services commissioner, said: “The changes to rules on credit rating agencies will mean better supervision and increased transparency in this crucial sector.

“But they are only a first step. We are looking at this market in more detail.”

The new agency would see national bodies transfer their supervisory powers to it under the terms set out by the EU.

Heads of member states are expected to discuss financial regulation when they meet at the G20 summit in Canada later on in June.