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The Clark Howard Podcast

10.10.24 Safe Saving: An FDIC Update / The Risks Of Seller Financed Mortgages

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.65.2K Ratings

🗓️ 10 October 2024

⏱️ 30 minutes

🧾️ Download transcript

Summary

Today, Clark has an update from the FDIC in the aftermath of the recent fintech meltdown, including the dangers of “blended banking” and how to spot fake savings account offers. Also - if you are in the market for a house, you may see offers for land contracts or seller financing. Know the downsides of alternative rent-to-own type mortgages Protections For Savers - An FDIC Update: Segment 1 Ask Clark: Segment 2 Beware Lease Purchase Type Home Offers: Segment 3 Ask Clark: Segment 4 Mentioned on the show: The FDIC Is From the Government and Really Is Here to Help 17 of the Best High-Yield Online Savings Accounts in October 2024 Experian Insurance Marketplace NYTimes: A Mortgage Alternative for Lower-Priced Homes Comes With Risks NYTimes: Consumer Agency Cracks Down on Seller-Financed Home Sales Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

When Kate and Jervais founded Health and Her in 2019, they set out to transform Menopause

0:05.6

care.

0:06.6

Through Barclay's Eagle Labs, they gained specialist industry and business expertise, with

0:11.2

support and training for the whole team.

0:14.0

But the story doesn't end here.

0:17.0

Because Health and Her are only just getting started,

0:20.0

selling at major UK retailers,

0:22.0

and making a real difference to thousands of lives.

0:25.0

Grow your business. Bank on Barclays.

0:28.0

Search Barclays Business Banking. It's my pleasure to welcome you here to the Clark Howard Show.

0:38.0

Our mission is to serve you with advice and information that empowers you so you make better financial decisions in your life.

0:47.1

And today I want to give an update on FDIC insurance in the aftermath of a recent FinTech meltdown that's left a lot of people

0:58.3

just hungering for their money and nobody's been able to give them good answers.

1:04.0

Also, if you're in the market for a house,

1:08.0

there was just a big fine paid by one of the lenders out there that was doing self-financing, lender financing

1:17.0

for homes or seller financing, and a lot of people got burned.

1:22.4

I wanted to talk about what you need to know. and a lot of people got burned.

1:22.5

I wanted to talk about what you need to know

1:25.8

when you're made an offer for a home

1:30.1

that you have an option to purchase later, supposedly with that seller financing.

1:36.3

We're going to talk that through.

1:38.8

Okay, so we had an ugly, ugly situation happened earlier this year when a bunch of people who put money in

...

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