Mortgages
64-year-old with $1.2 million 401(k) asks if retirement is affordable
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A 64-year-old individual with $1.2 million in a 401(k) and two mortgages is seeking advice on whether they can retire comfortably. The person's situation involves balancing retirement savings against ongoing housing debts. Financial experts emphasize the need for careful planning in such scenarios.
FICO updates credit scoring model affecting home buyers
AI에 의해 보고됨
FICO has introduced a new credit scoring system that analyzes payment trends over time, potentially altering mortgage approvals for home buyers. The model aims to provide lenders with a more accurate risk assessment. This change could benefit consistent payers but penalize those with recent lapses.