The Safest States Evaluated Across Diverse Data

According to a new report by the personal finance website, WalletHub which collated data on various data like mass shootings, hate crimes, COVID-19 death rates, and natural disasters, Vermont, Maine, and New Hampshire has been elected the three safest states in the US.

50 states were compared across five key areas:

1 — Personal and residential safety 2 — Homicides and assaults 3 — Income and debt data 4 — Road and workplace safety 5 — Preparedness for climate disasters

On a 100-point scale, Vermont scored the highest at 69.49, Maine followed with 66.24 points and New Hampshire scored 65.35

The three states which came at the bottom, are Louisiana with a score of 33.18, Mississippi and Texas trailed close behind.

It was noticed that all of the three best scoring states are located to the extreme northeast and border each other.

With the pandemic causing about 375,000 deaths in the country last year it is still one of the biggest safety concerns to Americans.

A panel of experts gave advice on ways to improve financial safety, they gave strategies to manage personal finances during difficult times and what could states do to reduce crime.

Consumers were advised by Professor Roman Weil, of the University of Chicago, to pay off all credit card debts which will get people most financially safe.

He suggests credit card debt if can be paid in full every month, then one should stop using debit cards.

Because using credit cards increases one’s credit score whereas a debit card does not affect the credit score.

Assistant professor Kareem Tannous, at Cabrini University, suggested investors, should diversify risk in different financial assets, like real estate, equities, bonds, and commodities.

Associate professor of criminal justice at Mercer University, Lynn Tankersley, said that policymakers should address the root causes of crime that are unique to their constituents.

If one lives in a tornado-prone area, consulting and associate director of safety and security at Dartmouth College, Douglas Babcock, suggested avoiding living in a flood zone or having a storm cellar.

For reducing and preventing crime in the future Babcock, said a safe society having better socioeconomic and educational opportunities will be of immense help.

Reference Source: MPA

https://www.compareclosing.com/mortgagenews/the-safest-states-evaluated-across-diverse-data/

Comments

Public Feedback Requested By CFPB

The Home Mortgage Disclosure Act underwent certain changes and to evaluate whether it is meeting the stated goals of detecting discrimination in mortgage lending the Consumer Financial Protection Bureau is seeking comments. The CFPB requests for assessment of the mortgage disclosure law and checks if it meets the objectives of the Dodd-Frank Act . To abolish discrimination in mortgage lending in 1975 the Congress enacted . The bureau said the request comes after an August report found that mortgage lenders as compared to white applicants were charging higher interest rates and denying credit to Black and Hispanic applicants. The bureau said that with this evaluation the CFPB will be able to maintain a fair, competitive, and non-discriminatory mortgage market. They added that the assessment is an opportunity for the Bureau to get an idea if the earlier HMDA rulemakings have improved upon the data collected, thereby reducing loans on financial institutions, and streamlining and mo

What is an Appraisal Contingency? — Best Guide for Homebuyers

About Appraisal Contingency If a home is appraised for less than the purchase price included in the contract then there is a provision that is included in the purchase contract allowing homebuyers to back out of their contract this is termed as an appraisal contingency clause. Buyers who use financing to buy a house or are buying homes in areas where prices are volatile commonly use Appraisal contingencies. How do Appraisal Contingencies work? Purchase offers have appraisal contingencies inserted into them to notify the seller that the buyer intends to have the property appraised as part of their purchase for the financing process. If th e property doesn’t appraise for the amount the buyer offered to pay then this contingency allows them the option of backing out of the contract without losing their earnest money deposit or facing other penalties. During an appraisal, a licensed professional is hired by the homebuyer to examine the property and evaluate it against the recent sal

What is Fannie Mae and Freddie Mac?

Understanding Fannie Mae And Freddie Mac What is Fannie Mae and Freddie Mac? Fannie Mae or FNMA is a nickname for Federal National Mortgage Association. It was established in 1938. It is a Government-sponsored Enterprise (GSE). In 1968, Fannie Mae ceased to exist as a government entity and became quasi-governmental, federally charted corporation to buy mortgages other than those insured by the Federal Housing Administration, otherwise known as FHA. Freddie Mac or FHLMC is a nickname for Federal Home Loan Mortgage Corporation. Freddie Mac is also a government-sponsored enterprise (GSE) which was brought into existence in the year 1970 by the Congress. It provides competition to Fannie Mae and provides funds availability in the secondary mortgage market. What is Fannie Mae's and Freddie Mac's Role? Fannie Mae’s purpose is to create a secondary market for the purchase and sale of mortgages. The secondary mortgage market is where home loans and s

How to Use Home Equity for Remodeling Projects

Important Guide How to Use Home Equity Everyone has to live somewhere and, everyone has to invest their money in someplace. So what happens when where you live, meets up with where your money is invested? Today we are going to discuss on how to use home equity for remodeling projects and things to know before using it for remodeling. For most homeowners, it is a choice between paying cash or borrowing against the equity that they have build up in their home. HELOC Or HEL? Interest rates are still significantly low, and we are not sure how long they are going to stay that way. And home values are still rising at least on average. So taking out a home equity line of credit (HELOC) or a Home equity loan (HEL) may seem like a sensible financial move. Not always the case We have explained the difference between the HELOC and HEL in our blog post “ About Home Equity Loan / Home Equity Line Of Credit .” It depends on the individual’s needs to choose between t

COMPARE CLOSING LLC

Search This Blog