Ray Frager

1 week ago | money.usnews.com | Mary Beth Eastman |Ray Frager |Gina Freeman

Mortgage defaults have ticked up slightly since last year, primarily among FHA borrowers. Late or missing mortgage payments can seriously affect your credit history and could even lead to foreclosure. To avoid default, consider refinancing, using a home equity loan or line of credit, or asking your lender for forbearance or a loan modification. Mortgage defaults have risen slightly since this time last year, according to data from the Mortgage Bankers Association.

1 week ago | money.usnews.com | Jennifer Calonia |Ray Frager |Emily Hayes

Saving up for a down payment is not the only preparation required for purchasing a home. Improving your credit score, paying down existing debt and avoiding any big financial shifts are among the action steps you'll need to take. You might also begin researching loan types and reputable lenders. Getting to a point where you feel emotionally and mentally ready to buy a house can be a journey on its own. But your work doesn't stop there.

2 weeks ago | money.usnews.com | Antonio Ruiz-Camacho |Ray Frager |Emily Roth

Credit cards with 5% cash back let you earn elevated rewards in certain categories, but there's no card that earns 5% on all purchases. Many 5% cash back cards come with rotating categories that require activation or have spending and earning caps. Maximizing a 5% cash back card usually requires a certain amount of legwork. If that's not what you're looking for, consider choosing a flat-rate card.

2 weeks ago | money.usnews.com | Dawn Papandrea |Ray Frager |Emily Hayes

Even with apps and online account services, calling the number on the back of your credit card makes sense in some situations. Human representatives may have more discretion to waive late fees, lower APRs or handle other special requests. Serious issues like account errors, potential fraud or financial hardship always warrant a call.

2 weeks ago | money.usnews.com | Lee Huffman |Ray Frager |Emily Hayes

Some of the links on this site contain offers from our partners. The offers in this article may be expired or currently unavailable. Some free nights can be used at any property, while others are capped at certain levels. Depending on your annual spending, you may be able to earn additional free nights. Based on how you redeem your free night, it might justify the annual fee. Frequent travelers can benefit from a co-branded credit card with their favorite hotel brand.