What Happens to My Mortgage If My Bank Fails?

Nicole Spector   Mon, March 20, 2023

Since the abrupt collapse of Silicon Valley Bank, questions around the safety and integrity of all things banking have been swarming. One of those questions is: “What happens to my mortgage if my bank fails?” There’s good news here. If the bank that holds your mortgage goes under, the status of your loan won’t change because it will be acquired by a new lender, according to reporting from The Wall Street Journal. So there’s no cause for stress. That said, you do need to be diligent and take certain steps to protect your finances in the event that your mortgage lender goes belly up.

What Is the State of Women & Money in 2023?

Gabrielle Olya GoBankingRates

Women have been making major strides in the worlds of personal finance and careers. A recent LendingTree analysis found that single women now own more homes than single men. And in January, Fortune reported that women CEOs run more than 10% of the Fortune 500 companies for the first time in history. Still, the gender pay gap persists and women continue to be less likely to invest than men — even though data has shown that they tend to be better investors.

5 Things You Should Discuss During Your First Meeting With a Financial Advisor

Gabrielle Olya   Mon, March 20, 2023

A financial advisor can be an excellent resource to help you make a plan for your money both now and in the future. But if you’re new to this world, you might not know how to make the most of your time during an initial meeting. In today’s “Financially Savvy Female” column, we’re chatting with Jane Voorhees, CFP, director of financial planning at ALINE Wealth, about how to prepare for a first meeting with a financial advisor and what topics you should be discussing.

 6 Reasons To Spread Your Money Around Multiple Banks

Andrew Lisa    Mon, March 20, 2023

Although you should always look for ways to declutter your financial life, it sometimes makes sense to have accounts scattered across more than one bank.

The following is a look at situations where you’d be wise to divide your money among two or more financial institutions simultaneously. If any of these scenarios apply to you, consider spreading your money around, even if it means keeping track of another routing number.

Banks in Distress: What You Need to Know About the Safety of Your Money

Patrick Villanova, CEPF®   Fri, March 17, 2023  SmartAsset

In less than a week, the U.S. banking system has suffered two of the largest collapses in American history. Regulators shut down Silicon Valley Bank on Friday after customers rushed to withdraw their money as fears rose about the bank's liquidity.  Two days later, regulators shuttered Signature Bank following a similar run on deposits. (Disclosure: SmartAsset, the publisher of this article, has a customer relationship with Silicon Valley Bank.)

To prevent more bank runs, federal regulators quickly moved to insure all deposits at both banks – even accounts that exceeded the Federal Deposit Insurance Corporation's insurance limit of $250,000.