Skowhegan man charged with using PPP loan for a barber pole light, church donation

Ruben Onsu

A Skowhegan man has been charged with criminal fraud in a case involving four alleged attempts to personally cash in on the federal Paycheck Protection Program, which provides forgivable loans to struggling small businesses.

According to a criminal complaint filed Thursday in U.S. District Court in Bangor, Nathan Reardon submitted false information to apply for four such loans, each totaling about $59,000, between April 3 and May 5, 2020. Only one of the loans was granted, and Reardon subsequently applied to have it forgiven after using a majority of the funds on personal expenses. He is being charged with bank

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Here are today’s mortgage rates on April 9, 2021: Rates decreased

Ruben Onsu

Justin Sullivan/Getty Images

A number of important mortgage rates trended lower today. Fifteen-year fixed and 30-year fixed mortgage rates both decreased. We also saw a shrinking in the average rate of 5/1 adjustable-rate mortgages. Although mortgage rates are dynamic, they are at a historic low. For those looking to get a fixed rate, now is an excellent time to buy a house. But as always, make sure to think about your personal goals and circumstances first before buying a house, and shop around to find a lender who can best meet your needs.

Check out mortgage rates that meet your

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How a personal loan could help with moving expenses

Ruben Onsu

Worried about how you’ll afford your moving expenses? A personal loan can be a responsible way to ease these worries and alleviate financial stress. (iStock)

Many Americans believe that moving is one of the most stressful events of their lifetime — even more stressful than having children or getting divorced. The fact that the average cost of moving is $1,500 certainly increases these feelings. No one needs to add stress during a move, especially when it causes a strain on your finances.

After closing on a house or paying the fees associated with signing a rental lease, you

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52% of older millennials with student debt say their loans weren’t worth it

Ruben Onsu

As millennials begin to turn 40 in 2021, CNBC Make It has launched Middle-Aged Millennials, a series exploring how the oldest members of this generation have grown into adulthood amid the backdrop of the Great Recession and the Covid-19 pandemic, student loans, stagnant wages and rising costs of living.

Older millennials entered adulthood around the time of the 2008 financial crisis, which was followed by higher education funding cuts, rising college costs and slow wage growth. The result: Millennials became the student debt generation

Even as the oldest millennials turn 40 this year and approach middle

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Serious concerns lurk under surface of loan shark joke

Ruben Onsu

The growing movement to impose 36 percent interest rate caps on retail installment loans received a rousing endorsement last week from the National Association of Loan Sharks, “the preeminent trade association for illegal moneylenders.”

Though an April Fools’ Day joke orchestrated by the American Financial Services Association, the April 1 press release reflects serious industry concerns that interest rate caps restrict financing opportunities for customers on the lower end of the credit spectrum at a vulnerable economic time.

The tongue-in-cheek release highlights how a slate of rate cap legislation could expand opportunities for the fake loan shark association’s members.

“These

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Should You Plan for $50,000 In Student Loans Forgiveness?

Ruben Onsu
Illustration for article titled Should You Plan for $50,000 In Student Loans Forgiveness?

Photo: zimmytws (Shutterstock)

Last week, President Biden asked the Department of Education to review his legal authority in using executive action to forgive student loan debt, which has renewed hope for many of the 45 million borrowers that collectively owe $1.7 trillion in student loans. But how should this affect your repayment strategy, and should you be banking on a possible $50,000 write-off on federal loans?

There are no guarantees

Since taking office in January, President Biden has shown a willingness to tackle student loan debt through various policies, including the extension of the student loan

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