In an effort to make owning a home more affordable, the Federal Housing Administration will dramatically cut the costs associated with the mortgages it backs. Premiums for FHA mortgage insurance, which is designed to protect the agency in case a borrower defaults on a loan, will be cut from 1.35% of a loan’s value to … Read more

File just one property claim to your insurer and you can expect to see your premiums soar by hundreds of dollars in some states. On average, filing a single claim — for anything ranging from a stolen bicycle to tornado damage — will result in your monthly premium being raised by 9%, according to a … Read more

Carl Icahn could keep another Atlantic City casino from going out of business, but he might back out of the deal because union workers won’t give up their healthcare plan. The union can’t bully Carl Icahn. He’s from Queens! Or that’s what he said, anyway, in an open letter to the Local 54 union, which … Read more

Even though 90% of the earthquakes that strike the United States are located in California, only about 10% of homeowners there have earthquake insurance. What gives? Here are three reasons why many quake-prone Californians shun insurance: 1) Quake damage rarely exceeds deductibles. Some argue the insurance is not worth the money for homeowners. Earthquake insurance … Read more

If you’re co-signing big student loans for your child, you may want to buy a life insurance policy while you’re at it. While no one wants to imagine the death of their child, taking out insurance on your son or daughter — or asking them to purchase their own plan — will protect you from … Read more