Eric Bank

Finance Writer
Eric Bank

About the Author

Eric Bank has been covering business and financial topics since 1985, specializing in taking complex subject matters and explaining them in simple terms for consumer audiences. Eric's writing regularly appears on Credible.com, eHow, WiseBread, The Nest, Get.com, Zacks, Chron, and dozens of other outlets. A former software engineer, Eric holds an M.B.A. from New York University and an M.S. in finance from DePaul University.

Latest Posts

229 posts written/edited to date

Guide

1,834 views

7 min read

What Is the Debt Snowball Method? How the Debt Payoff Strategy Can Keep You Motivated

What is the Debt Snowball Method?

If you are buried under a mountain of debt and don’t know how to get out, the debt snowball method might be a good place to start. The method can... read more »

By: Eric Bank • 3/17/25

Guide

3,434 views

11 min read

How Does Buy Now, Pay Later (BNPL) Work? A Guide to the Popular Short-Term Financing Option

How Buy Now, Pay Later (BNPL) Works

Have you ever seen the perfect item online, but your budget just won’t accommodate it right now? That’s the dilemma buy now, pay later (BNPL)... read more »

By: Eric Bank • 3/13/25

Guide

27,285 views

9 min read

What is Private Mortgage Insurance (PMI)? Understanding Its Role in Homeownership

A Guide to Private Mortgage Insurance (PMI)

To some folks, insurance is like a porcupine at the picnic — an unwelcome guest. But mortgage lenders have a very different view of life. They... read more »

By: Eric Bank • 12/31/24

Guide

23,988 views

9 min read

What is Underwriting? How Lenders and Insurers Determine Your Risk Level and Creditworthiness

How Underwriting Helps Lenders Determine Your Creditworthiness

Let’s clear up the confusion once and for all: An underwriter isn’t someone who edits novels. In the financial sense, an underwriter is a... read more »

By: Eric Bank • 12/26/24

Guide

24,435 views

7 min read

What is Forbearance? How Temporary Financial Relief Works & Affects Your Credit

How Forbearance Works and When to Request Relief

Now, I assume we’ve all practiced a bit of forbearance, like holding your tongue when your cousin Earl questions your chili recipe. But... read more »

By: Eric Bank • 12/24/24

Guide

40,518 views

11 min read

What is an Adjustable Rate Mortgage? How Interest is Determined and When an ARM is a Good Idea 

How Adjustable Rate Mortgages Work

I’ve owned my fair share of mortgages over the years, and if memory serves, that first one was adjustable. Now, interest rates were sky-high back... read more »

By: Eric Bank • 12/17/24

Guide

34,605 views

9 min read

What is Overdraft Protection? How to Protect Yourself From Fees Associated with Overspending

How Overdraft Protection Works and How to Set it Up

Overdraft protection can save your bacon when you get a bit too free with your debit card, but sometimes the cost is steeper than a jackrabbit’s... read more »

By: Eric Bank • 12/16/24

Guide

24,346 views

11 min read

What is Debt Forgiveness? How the Process Can Provide Relief, but Sometimes at a Cost 

How Debt Forgiveness Works and Affects Your Credit

Forgiveness is a mighty big concept, isn’t it? You see it figure into everything from Sunday sermons to those 12-step programs to help folks... read more »

By: Eric Bank • 12/12/24

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