A reverse mortgage is a loan taken against the value of the home (equity) to meet certain expenses, debt obligations, and even supplement income during a financial crisis. It allows homeowners to convert a part of their home value into cash for expenses and retain the ownership of the property simultaneously. However, reverse mortgage eligibility and feasibility are quite complicated and there are times when it is not a good option, especially for seniors (common applicants for a reverse mortgage) above the age of 60. Here are a few reasons why. Home eligible for inheritance Senior homeowners can benefit from reverse mortgage eligibility only if they can take a loan against their home and repay the same in a timely manner. However, in case the homeowner passes away and the property is inherited by their children, who might not be in a financially sound position to repay the impending mortgage. The inability to do so can result in selling the property to repay the outstanding debt and in the process lose complete ownership. So before taking a reverse mortgage, homeowners must account for the financial status of the people who will inherit the home in the future. Sharing owned property People living on the property are forced to vacate it in case the owner is unable to repay the reverse mortgage.

Though debt such as student loans, car loans, and mortgage on the house is part of life, it does become a hindrance that affects your savings and future financial goals. As per the Federal Reserve, Americans owe more than $4 trillion in consumer debt, and this number does not account for mortgages. So, if you’re facing crushing debt and want to avoid bankruptcy, you can always engage the help of debt settlement companies. Here is a list of top 10 debt settlement companies that can help you in a financial crisis. National Debt Relief The National Debt relief offers a debt settlement service that lasts for around two to four years and charges a 15% fee. They cover all kinds of debts, including unsecured debts. Freedom Debt Relief With average fees and AFCC accreditation, Freedom Debt Relief is one of the oldest debt settlement companies in the country. They are present in 37 states and have been in operation for over 17 years. Guardian Debt Relief Guardian Debt Relief specializes in working with customers who have a debt of more than $10,000. They usually charge a 20% fee and a monetary fee of $200, which goes into the settlement account.

Gift cards can be used to pay for several products and services across multiple platforms. Corporate gift cards, holiday cards, and even cash back cards are the most popular formats to redeem online or at kiosks. However, the process of redeeming them is anything but simple. And if not done correctly, you may miss out on many discounts and exclusive offers. Here are five common gift card mistakes to avoid while shopping. Buying from auction websites Gift cards can be used for several retail purposes. But never buy cards that are auctioned off from websites like eBay. You cannot verify the authenticity of these cards being sold online. Moreover, scammers can skim and track the magnetic data on such cards before they are auctioned off. Once you activate the card, scammers can also use it to avail of all the inclusive benefits. So it’s best to avoid buying from such auction websites. Consider only reputable retail and eCommerce stores that offer such redemption options. Keeping cards unused You might often end up receiving gift cards of no specific use. For example, somebody might gift you a $500 card that can only be redeemed for auto spares and accessories. Here, the best thing to do is exchange it on platforms where consumers can buy and sell gift cards.

Entrepreneurs who want to turn their ideas into full-blown, successful ventures often look for grants to make that happen. As rewarding as applying for a grant can be, many applicants face pitfalls that can diminish their chances of securing funding. Additionally , with many individuals applying for grants , the process has become highly competitive. This also means that aspiring entrepreneurs cannot afford to make mistakes during the application process that could jeopardize their chances of success. Poor research When applying for a grant, one needs to do thorough research on potential lenders, including their priorities and requirements. Applying for grants that are not aligned with the organizational goals, needs, and values should be avoided. As an aspiring entrepreneur, it’s important to steer clear of funding partners with unrealistic or incompatible expectations. Doing adequate research will help increase one’s chances of securing funding. Failing to include supporting documents When one applies for a grant it is important to include supporting evidence to back any business idea. If one is unable to provide the documentation necessary to confirm and validate the proposal, grant reviewers may not consider the application. Not introducing oneself and the venture It is a common mistake to assume that the funder has read about the venture before speaking to the potential entrepreneur.