Which Renovations Give You the Most Bang for Your Buck?

A home renovation can make your house more comfortable and efficient. But despite what you might see on HGTV, renovating isn’t easy, and you won’t always make big bucks when it’s time to sell your home. Each year, Remodeling Magazine takes a look at the cost vs. value of some of the most popular renovation projects to find out which improvements buyers will most value. Among the best investments are a deck addition, replacing the entry door with a steel door, and garage door replacement. If you’re remodeling to add something unique to your home that others may not appreciate or use, like a sauna, pool, sunroom, or home office, don’t expect to make much of that money back when reselling.

Which Home Renovation Projects Add the Most Value? [INFOGRAPHIC]

You’ll be happiest if you choose a project that not only recoups some of your costs, but that you’re actually interested in. Potential buyers a few years from now may not love that pool, but when it’s 80° out and you’re sunbathing with a cocktail in your own backyard, it could all be worth it.

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Money Mule Scams: How Criminals Convert Fraud into Profit What is a Money Mule? Money mules are individuals who unknowingly or knowingly assist criminals in laundering money, often by transferring illegally sourced funds between accounts or across borders. The source of the money comes from fraudulent scams or other illegal activities like drug trafficking. Criminals use their mule’s identity and layer the illegal transactions in an attempt to hide the illegal funds from law enforcement. Once properly hidden, the criminals are able to access their funds and cash out on their illegal activity. Common Money Mule Scams There are a number of ways that criminals will try to hide their money from law enforcement. Money mules are a form of money laundering, where criminals attempt to make their illegally sourced funds seem legitimate. Here are a few common ways people can unknowingly fall victim to money mule scams. 1- Deceptive Job Offers Money mule scammers will act as employers offering high-paying, remote positions. Common job titles could be payment processor, financial coordinator, or international fund liaison. While these job opportunities seem legitimate, their primary function is to receive and transfer illegal funds. The criminal will wire a large sum of funds to the mule, then instruct them to keep a percentage and transfer the remainder of the money to a different account or purchase a certain amount of cryptocurrency. The criminal hides behind their mule’s identity and is able to more easily access their funds. 2 – Romance Scams This type of mule scam exploits a victim’s emotions and trust. Scammers will find their victims on social media sites, dating sites or other online chat channels. They will deceive their victims with made up personas often using stolen photos and fake details. Over time, the scammer will attempt to build an emotional connection by sending affectionate messages or personal stories. Once they feel they have earned the victim’s trust, they will fabricate a story requiring financial assistance. These are oftentimes medical emergencies or travel issues that need quick funding into an account. Once the scammer has convinced their victim to oblige, they will continue to exploit their trust to launder their illegal funds. 3 – Lottery, Prize, and Investment Scams If something seems too good to be true – it probably is. These scams typically start via an unsolicited message or phone call informing you that you’ve won a prize. They instruct their victims to take a number of steps before they can claim their prize, and that is where the danger lies. These steps could include gathering your personal details, wiring a “prize tax” or fraudulent fee, accepting a large sum of money, and/or transferring a portion of the winning funds to another account. Similarly, investment scammers typically promise their mule victims “return” for their illegal money transfers – sometimes in the form of cryptocurrency or percentages of the money they wire. What are the Consequences? Large overdraft balances are most often the first consequence to the money mule. Once the criminal has access to their mule’s account, they typically push a large lump sum out of the account. This amount oftentimes will exceed the typical balance in the mule’s account, leaving them with a substantial negative balance to dig out from. Acting as a money mule is illegal, whether the crime is knowing or unknowingly committed. The punishment for these crimes include imprisonment and federal charges. Additionally, your identity and personal information could be stolen from the criminals involved in the money mule scheme. Internet Crime Complaint Center (IC3): The IC3 is run by the FBI and accepts online internet crime complaints from the victim at www.ic3.gov How to Protect Yourself As with most methods of protecting yourself against fraud – remain cautious whenever someone requests your personal information or banking information. Only share those details with people or organizations that you trust. If you receive a job offer from an online business, do your due diligence to confirm they are a legitimate company. Additionally, a legitimate employer will not ask you to form a company or open a new bank account on their behalf. Always be cautious if anyone asks you to wire or transfer money on their behalf. Be weary if something seems too good to be true, like you’ve won an unsolicited prize or been chosen to participate in a giveaway. Scammers act on urgency. If someone is pressuring you to do something that you’re uncomfortable with, walk away. If you or someone you know is afraid they are involved in a money mule scheme, it’s not too late to stop. Stop communicating with the person giving the directions. Tell your financial institution and consider changing accounts. Report suspicious communications or activity to law enforcement. The Internet Crime Complaint Center (IC3) is the Nation’s central hub for reporting cyber crime and run by the FBI. Visit www.ic3.gov for resources and more information about how to file a report. Maintain receipts, contact information and communications (emails, text messages, voicemails) so that information can be passed to law enforcement, if needed. 5 min read

Banks That Offer Personal Loans – North Carolina Have you been looking for a bank that offers personal loans in North Carolina? Are you tired of sifting through endless search results only to be disappointed by your options? With plenty of North Carolina banks offering personal loans, it can be hard to pick which one is right for you. It is important that your personal loan provider is able to answer all of your questions and meet all of your needs. And, at First Bank, we understand that no two customers are alike and we work hard to make sure you are getting what you need. That is why we offer customized loans with competitive rates and flexible terms. Stop Searching, Start Comparing Now that you’ve found First Bank and you know how dedicated we are to meeting your needs, you can stop searching and start comparing. We offer great options for customers looking for personal loans. Each option provides you with the flexibility you need to borrow money when you need it. Personal Line of Credit Borrow money instantly Request cash by writing a check Qualified collateral may be required to secure your loan First Bank Platinum Credit Card with Rewards — A First Bank credit card allows you make everyday and monthly purchases in a convenient and secure way. Use your card to earn rewards points you can redeem for things like gifts, travel and entertainment. With your First Bank credit card, you will also receive other benefits, including: Security benefits Convenience benefits Shopping benefits Credit card interest rates can vary, but there is typically no annual fee. First Bank Home Equity Lines of Credit (HELOCs) — This type of loan is offered as a revolving sum of money you can access as need and can be a great way to finance larger projects. First Bank HELOCs: Have low interest rates Can be secured by the equity in your primary or secondary home Can be accessed with specially designed checks that are free of charge May allow interest expensed to be up to 100% tax deductible* Auto Loans — With the help of First Bank, you can purchase the new or used car—or truck—that you’ve been wanting. Benefits of auto loans from First Bank include: Competitive rates Loan amounts up to $100,000 Fast application 3 min read

Best Local Bank in North Carolina For a local bank in North Carolina that puts your financial goals first, check out your neighborhood First Bank. Named one of the Best Banks in North Carolina by Forbes, we’re small enough to know you like a neighbor, and large enough to provide financial services that fit your needs. We offer personal and business banking solutions with tons of savings options and a generous rewards program. Visit your local First Bank today for more information— more than 100 locations across the Carolinas. Financial Services Offered at First Bank At First Bank, we pride ourselves on being able to provide our customers a local, community-centric, banking experience. In fact, First Bank opened its first branch to help a local NC community that lost its only bank at the beginning of the Great Depression. We understand that the needs of the customers in various communities vary. That’s why we offer a variety of banking services at each of our locations, including: Checking accounts and savings accounts Debit and credit cards Personal loans and home equity lines of credit Business banking Treasury and merchant services Online and mobile banking, including mobile check deposit Mortgages, wealth management, and insurance Visit Your Local First Bank Today Come see why families and businesses have trusted us for years. To learn more about First Bank and why we are the best option for local banking, contact or visit us today. For more information on First Bank, see our articles on small banks near me, mortgage loan basics, and best mobile credit card processing service. ——— Securities and insurance products are offered through INFINEX INVESTMENTS INC., Member FINRA/SIPC. INFINEX INVESTMENTS INC. and FB Wealth Management, a division of First Bank, are not affiliated Investment and insurance products and services are offered through Osaic Institutions, Inc., Member FINRA/SIPC. Osaic Institutions and FB Wealth Management, a division of First Bank, are not affiliated. We do not provide tax advice. Consult your tax advisor. Investment and Insurance Products are: Not Guaranteed by the Bank Not FDIC Insured Not a Deposit Not Insured by Any Federal Government Agency May Lose Value including Loss of Principal Sources: Investopedia: http://www.investopedia.com/terms/m/mortgage.asp Troy, NC: http://troy.nc.us/ 2 min read

What Are 15 Year Mortgage Rates? What are 15-year mortgage rates? It seems like a long time doesn’t it? But when you really think about it, 15 years is nothing. Think of all the things you’ve done, the places you’ve been and the people you’ve met in the last 15 years. Where does it all go? For a different perspective, consider that the average American will spend nine years of their life watching television, four years driving a car and 2.5 years cooking. Add it all up and in the time you spend doing those three things you could’ve paid off a 15-year mortgage. First Bank’s Mortgage Know-How center has a number of resources for anyone wanting more information about what 15-year mortgage rates are. About 15-Year Mortgage Rates You can call our mortgage help center at 1-844-855-2262 to seek answers to your questions or expert guidance Use our mortgage calculator to estimate your monthly payments for a 15-year mortgage, determine if you should rent or buy or calculate refinancing savings Complete a loan application online if you are seeking 15-year mortgage rates Our Mortgage Know-How center has articles, tips and guides for first-time buyers, experienced buyers, refinancers and builders You can go online to print necessary forms, check your loan status or contact us for information regarding your loan Get a free consultation with one of our loan officers With more than 100 locations across the Carolinas, there’s a First Bank loan expert near you who will be happy to get the loan process started. With First Bank, you’re sure to find the right mortgage option for your needs.* We offer conventional loans of both adjustable and fixed rates. We have jumbo loans, government loans such as rural housing, FHA loans, construction loans for builders and professional loans for doctors, CPAs, and lawyers. So if you’re seeking 15-year mortgage rates, let First Bank be your time machine and watch the years go by. Loans subject to credit approval. ——— Sources: Distractify: http://news.distractify.com/dark/trivial-facts/astounding-facts-about-how-we-actually-spend-our-time/ 2 min read

Which Renovations Give You the Most Bang for Your Buck?

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