Author: Rebecca Holland

Insurance companies are cautiously optimistic about the Trump administration’s policies for their industry: insurers saw their stocks soar in early April when the federal government announced a record 5.06% benchmark increase to Medicare Advantage plans.

That is more than double the rate (2.23%) proposed by the Biden administration in January 2025, which was seen as a budget cut by the insurance industry. The Trump administration increase will amount to $25 billion for insurers like Humana and UnitedHealthcare, which participate in the revitalized Medicare Advantage program.

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Advocates highlighted that program costs have seen margins fall sharply in the insurance sector. Enrolled older adults have used more care than anticipated since the pandemic, and many insurers have already cut benefits, exiting some markets to remain profitable. The increased funding is expected to make health insurance companies a haven on the stock market during an unpredictable and volatile time.

Lo and behold, both Humana and UnitedHealthcare’s first quarter earnings caused the companies’ stocks to drop precipitously on April 16.

Adding to the pinch, the Trump administration also enacted changes that will make it harder for insurers to inflate their profits. These changes are expected to dull the shine of the increased funding and may make companies even more reluctant to pass on savings to customers.

Criticism of the plan

The Medicare Advantage program has not been without its critics since its inception in the Balanced Budget Act of 1997.

The program uses taxpayer dollars to pay private insurers for coverage for older adults and those with disabilities. Medicare Advantage was introduced by Republican Representative John Kasich in the omnibus, and the Democrats have been critical of using public funds to pay private companies through the program.

How much the federal government spends on Medicare Advantage influences its monthly premiums and plan benefits. There is no baseline of coverage across the different private insurers who participate in the program.

Pundits have said the Biden administration was skeptical of the program, and the low rate of increase proposed for 2026 by Biden was seen as a cut to funding, given the rate of inflation.

Despite stricter rules enacted by the Trump administration on billing practices, the Department of Justice has launched a civil fraud investigation into UnitedHealthcare’s practices. Critics have looked askance at Trump for continuing to pour taxpayer money into an industry mired in legal woes.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Trump’s policies and their impact on older adults

There is little evidence, however, that Trump’s policies will be a big win for the average American. While a boost in funding might mean savings will be passed on to clients, it seems more likely that the cash injection will be used to rally the insurers’ market performance.

“Though required by law, this excessive increase in payments to Big Insurance — when evidence demonstrates they are already being overpaid — demonstrates the crucial need for Congress to fix the way payment rates for MA insurers are calculated,” pundit Rachel Madley wrote on her Substack Health Care Un-covered. “Sadly, analysts expect the extra payments Big Insurance will get in 2026 will go to increasing profit margins, not increasing benefits or availability of care.”

With Medicare Advantage enrollment already on the rise, other analysts predict that, following this announcement, even more Medicare-eligible seniors may elect to join the program in 2025 and 2026. Only time will tell if the $25 billion is used to improve profits or to increase benefits for a growing number of seniors.

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Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

If you’ve hit middle age and managed to earn a substantial sum investing in the stock market, congratulations, you could be well on your way to building a sizable nest egg for your retirement.

One common piece of advice people receive in their early years of investing is to put their money in a fund that tracks a market index like the S&P 500. Even legendary investor Warren Buffett recommends this approach for everyday Americans. Investing in an S&P 500 index fund gives you exposure to the top-performing companies in the U.S. across a broad range of sectors. As these companies grow — or, at times, falter — so does your investment.

But let’s say, despite having great success, you feel ready to move on from investing in the S&P 500. At the age of 35, your investment has grown to $300,000, and you want to use some of it to make a few riskier bets on individual stocks. This could potentially generate wealth at a much faster pace, but you could also lose it just as quickly.

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Here’s what you should know about investing in individual stocks. And it goes without saying: Nothing in the stock market is guaranteed.

The pros and cons of stock picking

In contrast to passively investing in index funds, stock picking is much more active and involves knowing the market well. You need both the time to dedicate to reading market reports daily and a healthy appetite for risk, knowing that not all your picks can be successful.

Investing in individual stocks is a choice that is only for those who want to take on investing as a serious hobby or maybe even as a second career. Stock picking entails a lot of study. To become a great investor, you have to be willing to first invest considerable time to understand the market, the history of growth and decline across a number of industries, and to stay on top of reports from reputable trading firms.

However, if you’re eager to become a unicorn stock hunter, there’s the potential for greater returns than an S&P 500 index fund can offer. Experts advise against trying to time the market, since day-to-day outcomes tend to be unpredictable, but there’s sometimes room to spot an opportunity for buying low to potentially sell high. Moreover, individual stock buyers can get access to dividend-paying stocks, which you can either use to supplement income or reinvest for your retirement fund.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

How to invest in individual stocks

Stock pickers use both fundamental analysis and technical analysis to make decisions and predictions about stock performance.

For fundamental analysis, annual reports, quarterly conference calls and other third-party reporting on companies help investors to understand not only growth and profitability, but also public sentiment and the potential for new products or lines of business that could increase a company’s value. This type of analysis also involves studying competitors in the market to understand a company’s place in a sector compared to similar players.

For technical analysis, you look for trends and patterns in the stock price itself. This involves historical trading data, including a stock’s price and trading volume, and the ability to see patterns that others may miss. You might also look at the trends from competitor stocks to compare growth and decline in the industry as a whole.

When you’re just starting out, look for reports from reputable sources to help you get a handle on both these types of data. At this early stage, paying more for the right tools can be helpful as you learn.

Once you feel confident that you’ve done your research, you will want to decide on the right time to buy and how long to hold a stock in your portfolio. There’s no one-size-fits-all-answer here. Ask yourself questions about your time horizon, personal financial goals and risk tolerance. Remember that holding onto a company that’s reputable today doesn’t mean the stock price will rise forever.

It’s always good to remind yourself as an investor to keep your emotions in check. There will be times, such as right now, where the market is extremely volatile and can seemingly change at a moment’s notice. It may be challenging, but focusing on your long-term strategy can be helpful.

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Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

A Las Vegas woman is asking for a policy change at NV Energy and the Public Utilities Commission of Nevada (PUCN) after her power was cut without her knowledge while she was away on vacation, and was nearly cut off again just three months later.

LaShanna Butler returned home from her holiday in October at 1 a.m. to find her power cut. All the food in her fridge and freezer had spoiled because of the outage, and had to be replaced at an expense of $400 to her.

She reached out to NV Energy, who told her someone had called their offices to say a new tenant was moving in. The representative told Butler they had sent her a letter about the matter. The letter was dated Oct. 6, and said power would be cut the following day, on Oct. 7.

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“I said, ‘You never talked to me,’” Butler told KLAS 8 News Now.

In January, Butler received another letter. This one, dated Jan. 18, said power would be shut off on Jan. 17. Moreover, the postmark on the letter shows it wasn’t mailed until Jan. 21.

“So, you’re going to cut my power off on the 17th, but you don’t even mail it until the 21st — that’s four days later,” she said.

What happened to the power

Reporters from 8 News Now say they spoke to PUCN and although the commission does not track start-ups and shut-offs for electricity, they do log complaints about them. Data showed that they had received 224 disconnection complaints between 2018 to 2024. The news channel noted that complaints do not necessarily mean the disconnection was improper, and not all the complaints involved NV Energy.

Furthermore, a representative from NV Energy told 8 News Now that the utility can only deny new service requests in “very limited circumstances,” per the Nevada Administrative Code.

“If someone requests new service when there’s a customer still on record with existing service at that address, we do issue a letter to the existing customer, advising them of the request for new service at the address and asking them to call us if they feel that is happening in error,” the spokesperson told 8 News Now.

After 8 News Now reported on her case, NV Energy offered Butler a credit on her account. But she wants more.

“I want change to be implemented with how they contact their current customers and how they let them know, ‘Hey, I just wanted to reach out to you, Ms. Butler. Did you happen to vacate your address?’ That’s all it takes,” she said.

“If you can send a bill through email and if you can text me when my bill is paid, certainly a letter is not sufficient in 2025.”

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

What you can do to prevent this issue in your home

Electricityrates.com reports that “by law, companies must give you a fair warning — usually around 10 to 20 days in advance.”

While there are only a few laws at the federal level regulating electricity services, states are all responsible for passing and upholding electricity shut-off laws. The most common reasons for shut-offs are failure to pay bills on time or theft of service by manipulating the meter. Tampering with utility equipment or using nonstandard equipment are also cited for justified electricity shut-offs.

However, most states have rules against service providers disconnecting electricity during weekends and public holidays, as it might be harder to reach the company for help or make payments on-time.

If you are up to date with your bills and find yourself in an unusual situation like Butler’s, be sure to contact your electricity company first. If you can’t get the help you need, you can try reaching out to your state’s public utility commission or utility authority for information, assistance or to file a complaint.

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Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Early in your career, big pay increases can happen quickly — you get a new job in a much larger company, you advance through the ranks at your current company or you move to a new industry where salaries are typically higher than you could command before.

After the excitement of signing a big contract is over, you might ask yourself: “Now what?”

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While you might be tempted to make your first major payday all about fun purchases, it’s still important to stick to tried-and-true financial principles. There are no guarantees in today’s world. You could suddenly lose your job, and the money you’ve made has to last.

Let’s say you’re a single young professional who has moved from a $100,000 to a $200,000 salary role. We’ll cover budgeting, saving and investing to help you make the most of your new income.

Calculating your new take-home pay

Just because your before-tax income has doubled it doesn’t mean your take-home pay will double as well. Moving from $100,000 to $200,000 means you cover new tax brackets, and if you have any other income outside of your regular job, you’ll have to take that into consideration as well.

The federal tax brackets for 2025 at your income level as a single filer are as follows:

• 10% for income up to $11,925
• 12% for income from $11,925 to $48,475
• 22% for income from $48,475 to $103,350
• 24% for income from $103,350 to $197,300
• 32% for income from $197,300 to $250,525

It’s important to note, even if you earned $200,000 over the entire year, your total income will not be taxed at 32% — only the amount after earning $197,300 will be taxed at this rate. Federal tax rates begin at 10% and rise correspondingly with income. So, you’ll need to do some calculating to understand what your actual tax rate will be. On top of that, you’ll have to calculate taxes for your state, if any. Depending on where you live, you may face no additional state taxes, a progressive rate like federal taxes or a flat rate regardless of your income.

Your take-home pay will also be impacted by your health insurance, any additional life insurance costs and other benefits programs you register for. If you have questions, be sure to ask your employer for more information.

Spending responsibly

Once you have a good handle on the figure that will flow into your bank account each month, it’s time to set a new budget. Start by looking at your old budget and spending. Were you happy with how you were managing your money? Did you feel like you were getting the most bang for your buck, balancing saving with enough funds to enjoy your favorite activities?

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

It’s a useful, if time-consuming, step to track your spending from the previous year. You can gain a lot of insight into how you used your money and where you can add or trim spending to align with your personal goals. With your new income, you may want to seek the advice of a financial advisor to help you adjust your contributions to retirement savings and investments.

You may also find the prospect of paying down debt or purchasing big-ticket items such as a home to be more realistic. The median sale price of a home in the U.S. was $416,900 in the first quarter of 2025, according to the Federal Reserve Bank of St. Louis. Home values will vary by location, but you now have an opportunity to save up for a large down payment. If you want to pay off debt or own a home, your new budget should account for these goals.

Avoiding lifestyle inflation

Getting a new job with such a high salary can be a heady experience. You may feel tempted into excess spending to keep up with your peers in your new role or to demonstrate to friends and family that you’ve finally “made it.” However, it’s easy to slip into living paycheck-to-paycheck with a big income if you’re not careful about your spending.

To keep it in check, make sure your money moves align with your values. Ask yourself how you really like to spend your free time and allocate a portion of your budget to those activities. If it’s important to you to give back to your community or donate to funds you support, consider building that into your budget over more frivolous spending.

One common purchase people make after boosting their income is a new vehicle. In this case it’s best to think in practical terms. Do you really need a fancy new car to commute to work every day, or does it make more sense to buy something that best supports your lifestyle? Cars drop in value quickly, and in many cases the best value can be found on the secondhand market.

Managing your new take-home pay goes hand-in-hand with managing your new lifestyle. If you were mostly satisfied before your income upgrade, how much really needs to change? This is a chance to live a good life while pursuing long-term goals to set yourself up for a happy and comfortable future.

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Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Relationship patterns in the U.S. are changing. As of 2023, 9.1% of the population was cohabiting without being married, up from only 3.7% in 1996. With more unmarried couples opting to have children and buy homes together, those living in these types of partnerships should be aware that, while values have changed, the law in many cases has not kept up with the times.

Consider this scenario: You’re 29 years old, planning to buy your dream home with your partner. You’ve been living together for several years, and have a child together. While they have been saving up for a down payment, you have been doing most of the childcare, and diligently paying off your student loans to reduce your overall debt load in the relationship. You’ve found a house you love, but then your partner drops the bombshell: They believe that since they’re the one putting the upfront payment on the house, only their name should be on the deed. They still expect you to split the mortgage 50/50. What should you do?

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Property laws in the U.S.

Your rights as part of an unmarried couple will vary depending on which state in the country you call home. While many states recognize common law marriage, the rules around property in these unions vary.

For example, in states that recognize common law marriages to some extent, the fact that you have cohabited for several years and demonstrated the capacity and intent to marry by getting engaged would make you common law spouses. This would give you the right to make a legal claim on the property in the event of a break-up, or the death of your fiancé. You would also have the right to file for divorce.

Even if you live in a state like California that does not recognize common law unions, the fact that you share a child, equally contribute to living expenses, and are engaged would give you a strong legal case to make a claim on the home even if your name was not on the deed. However, you should know that suing your former spouse could be a lengthy and expensive process in court.

For most couples that share children and have been cohabiting for years, marriage is still the best way to protect each partner’s legal rights in the event of the relationship ending, and also in the event of the death of either party.

If you are considering buying a house together or significantly contributing to mortgage payments and other living expenses, it’s a bad sign if your partner is looking for ways to block your claim to ownership of the property, especially if it is your primary or only residence. In the scenario outlined above, this is a major indicator that your partner is not financially trustworthy.

Also, while the childcare you’ve provided isn’t paid work in the traditional sense, it does hold value, and this should be acknowledged in the partnership. While you hypothetically could have gone back to work to earn a traditional paycheck, you then might have had to find paid childcare.

Advice for new couples

For couples who intend to cohabitate or have not established a common law marriage but will be sharing the cost of a mortgage, it’s essential that both names appear on the deed to the home. If this is not possible, you can opt to sign a cohabitation agreement that outlines the division of your property if you choose to part.

Before you enter into any major purchases with your partner, be clear on your rights. As an unmarried person, your partner’s finances and property remain theirs, even if they buy a home while you’re together, and you contribute significantly to the cost. And if you have any doubts about your partner’s intentions or the financial repercussions for you if the relationship ends, don’t contribute to the mortgage or down payment.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Financial abuse

A partner who is trying to block you from exercising your legitimate claim to the home you share or plan to share may be showing early signs of abusive tendencies. Financial abuse is a control tactic where an abuser will intentionally manipulate or control a victim’s access to money, their financial autonomy, withhold financial information that affects the victim, or block them from accessing any financial advice, products or property that would give them freedom to leave the relationship. The National Network to End Domestic Violence says that financial abuse happens in 99% of domestic abuse cases.

In the case of the couple who has cohabited for several years and share a child, one partner attempting to block the other from property rights that would normally be theirs in a marriage is definitely a flag. Regardless of the reasons, unmarried couples are best advised to have clear legal agreements about major joint property, and to maintain separate bank accounts so that neither partner will be left without an emergency fund if the relationship ends.

Financial self-care

Whether you’re married, common-law, or in a partnership, maintaining a separate emergency fund is an important step to safeguard yourself, especially if you’re a woman. Studies show that the gender pay gap persists, with white women earning 83% of what men earned in 2022, and the gap increasing for women of color. In the case of a stay-at-home mom, leaving the workforce to be a caregiver is a significant financial pitfall, costing women $150,000 in wages on average.

Contributing three to six months of expenses to an emergency fund can help get you on your feet quickly if you need to leave your relationship for any reason. You can open a high yield savings account separate from any joint accounts you hold with your partner, and set a budget for monthly contributions.

In the case of our example couple, it may be advisable to seek financial counselling to help outline their money goals in the relationship and future marriage. A couples therapist may also help to unravel the miscommunication and mismatched expectations for their future — financial or otherwise.

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Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Mississippi business owner Jim Dutton is feeling burned by Tren Solar, a Louisiana-based company that installed solar panels on his property, and Mosaic Solar, an affiliated company that loaned him $99,000 for the job.

Now Dutton has 47 non-functional solar panels installed on top of his auto body shop, located on the same property as his home in Carriere, Mississippi. That’s because there are “multiple potential safety hazards” with the panels and wiring, according to David Blackledge of MIssissippi’s Cooperative Energy electrical company, who inspected his property.

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That hasn’t stopped Mosaic Solar from continuing to send Dutton the bills for the $99,000 loan.

Now Dutton is sharing his story with Fox 8, warning others about his experience with the two companies.

Solar panel company seemed legitimate

Dutton first learned of Tren Solar when they called him “out of the blue.” He was interested in the potential savings of producing solar energy on his own property and powering both his home and his auto body shop, where he restores vintage cars.

He did some online research that led him to believe that Tren Solar was trustworthy.

“It looked like a legit business. And one of their partners, I guess they call it on the website — Panasonic — and they rated them in 2023 the best installer in the region,” Dutton recalled.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

He moved forward with the job and signed a loan with Mosaic.

“They installed the panels within three days,” Dutton said. “I was like, ‘Wow, this is cool. They weren’t kidding, four to eight weeks.’ Then, it was radio silence.”

After three months of Dutton’s constant calls to Tren Solar, an electrician finally showed up to wire the system to supply power to the auto body shop and home — without an approved plan from Cooperative Energy to do so.

“These two jobs should not have been installed by Tren Solar, because they didn’t make it past the initial utility review stage,” the utility company’s Blackledge told Fox 8. “The installation method used has created multiple potential safety hazards.”

Blackledge added that Tren Solar waited till after the panels were installed to reach out to Cooperative Energy for permission to do the installation. When Blackledge reached out to Tren Solar to follow up, he was never able to reach anyone.

The disappearance of Tren Solar

Fox 8 visited the Tren Solar business address, but were told Tren Solar had closed its office months before. The company’s co-founders did not return emails or calls.

Fox 8 has since discovered multiple complaints about Tren Solar and Mosaic lodged with the Better Business Bureau.

“All of the complaints have been (regarding) the lack of customer service communication that’s been happening,” said Michael Drummond, president of the Better Business Bureau (BBB) of Greater New Orleans.

“We’ve reached out many times through our processes. We’ve been unable to get them to respond.”

Now, Attorneys General in multiple states are suing Mosaic for deceptive trade practices.

“A government action or a government warning is definitely a red flag,” Drummond said.

How to protect yourself from shady businesses

If you’re considering a major installation on your property, like solar panels:

• Research regulations to familiarize yourself with building, fire and electrical codes and other rules designed to protect you and your home. That includes making sure you are lined up for inspections throughout the process.
• Don’t hire the first contractor you find — especially if they reach out to you through a cold call or similar type of outreach marketing. Shop around.
• Do your due diligence on the principal contractor you choose and their affiliates. Check with the Better Business Bureau, study online reviews and testimonials and don’t be afraid to ask for testimonials from your neighbors. If your contractor is legitimate, they’ll be happy to provide contacts.

If you have concerns about the installation, make sure you record all communications with the company, including times of calls, any emails or texts you received, and all bills or invoices.

If you believe you’ve been the victim of deceptive business practices, report the business to the Better Business Bureau or your State Attorney General’s Office. You can also file an online complaint with the Federal Trade Commission or reach out to a local Consumer Protection Office.

If you’re attempting to recover money you spent on such an installation, you can try to send a notice of dispute to your credit card company to stop payment to the company.

You can also try to get your insurance company working on your behalf. Some insurance policies can help cover losses or damage from faulty installations. Check with your provider for more information.

Finally, you can take the company to small claims court or — if you’re dealing with a significant sum — hire a lawyer.

What to read next

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• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Road construction is always disruptive. But for Houston businessman Kent Edwards, years-long roadwork has cost him so much that he’s suing the Texas Department of Transportation (TxDOT).

“This is a long-term saga going back to 2015 for me,” Edwards told Moneywise.

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Edwards has run Motorcars Limited, his restoration shop for luxury and classic cars, on Hempstead Road since the mid ’80s. As he shared with KHOU, it used to be full of cars. Now it’s nearly empty. It’s hard for customers to drive in.

That’s because for 10 years, Hempstead Road has been under construction with repeated roadwork delays and no end date in sight. Edwards has not only lost customers but had to sell a commercial property across the street when all his tenants moved out due to the disruption.

As for his auto body shop, “I can’t sell it. I can’t rent it. I can’t do anything with it.”

Now he’s filed an “inverse condemnation” lawsuit against TxDOT seeking compensation for lost profits and business damages.

Meanwhile, the road construction is also costing the state a lot of money. TxDOT has to pay for ongoing delays with tax dollars. What is TxDOT doing to recover the cost of delays?

State charges, then refunds, road contractors for cost of delays

KHOU reported that when a roadwork project is past due, the state is within its right to charge the contractor damages. In the case of the roadwork outside Edwards’ business, those damages amount to $1.7 million.

But as the news outlet discovered, as soon as TxDOT charges contractors for these damages, it regularly reverses course and waives the costs, crediting money back to the same contractors.

In the past three years, TxDOT charged roadwork contractors $88 million in damages, but credited them back $39 million. In some cases, the credits were almost equal to the damages, essentially negating the cost to contractors.

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“There ought to be consequences,” said Adrian Shelley of the government watchdog group Public Citizen. “If there’s no consequences for delays, they’re going to keep happening, right? It’s that simple."

TxDOT Executive Director Marc Williams told KHOU that contractors are not being let off the hook, but that contractors dispute the damages, claiming legitimate reasons for delays, like bad weather.

“We work very hard to hold those contractors accountable,” he said. “We want the projects … to be done right, to be done on time, but we also are fair.”

What can small business owners do?

But Edwards doesn’t think TxDOT is being fair to business owners.

“I don’t think it’s acceptable at all,” he said.

In other parts of Texas, city councils offer financial assistance to business owners affected by construction.

San Antonio City Council has earmarked $1.4 million for businesses in construction zones to help them with advertising and operating costs — during and after construction.

For small businesses across the U.S., the Small Business Anti-Displacement Network offers tools and resources to help owners stay afloat, including advice on filing for tax credits and incentives and information on commercial tenant protections.

Small business owners can also reach out to their local community organizations and business development councils for support and to organize cross-promotional activities to keep the community aware that the business is open while construction continues.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

A Bay Area family has won a victory in court after their home was significantly undervalued in a reappraisal.

Ron and Dominique Curtis were hoping to refinance their mortgage to take advantage of the historically low interest rate in 2020. It was appraised a year earlier at well over a million, but upon reappraisal was valued at $900,000, or $254,000 less than the previous estimate.

With no major changes to their home and many homes in the neighborhood in ill repair being valued similarly, the Curtises were forced to conclude that their appraiser was acting with racial bias.

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The low appraisal caused the couple to lose out on refinancing their mortgage.

As part of the settlement, the appraiser has been ordered to pay the couple $75,000, and the appraiser ordered to watch Our America: Lowballed, a documentary produced by KGO ABC7 News, which spotlights the couple and the ongoing problem of Black and Latinx homeowners in the area facing similar treatment.

The appraisal ordeal

In the evaluation, the appraiser, who, as the documentary notes, has been cited by the State of California for violating the appraiser’s code of ethics, compared the couple’s Oakland home to several others with boarded-up windows, caved-in garages and missing shingles.

Following the appraisal, the Curtises filed a 60-page rebuttal asking for a reconsideration and a new appraisal. They didn’t receive that appraisal until after ABC7 News reached out to the company, Quicken Loans, for a statement.

Ron Curtis serves as a licensed real estate broker, and therefore had access to the multiple listing service (MLS) to help strengthen their filing with data. Dominique Curtis is now a real estate appraiser herself, and is seeking to bring more equity to the industry.

After filing several complaints with the California Civil Rights Department (CRD) against the appraiser, the appraisal management company, Clear Capital, and their lender, the couple finally got closure, almost five years later.

In addition to paying the Curtises $75,000, and watching the ABC7 documentary, the appraiser has also been ordered to pay $15,000 to the CRD.

Ron said that the ordeal has caused them significant financial hardship, beyond the limits of the settlement paid to them.

"We’re renters now. We’ve moved three times since, and we’re still trying to push and move forward,” he told ABC7 News.

“We really don’t know how it is going to affect us two or three decades from now."

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A pattern of racial bias

ABC7 News reported in the 2022 documentary that “the likelihood of appraisers lowballing homes is 10 to 30 times higher in America’s poorest Black neighborhoods than in the wealthiest white neighborhoods.”

For others in their situation, Ron Curtis says “document and to gain as much support as you can, and make sure you reach out to Fair Housing Advocates of Northern California." He also recommends reaching out to a real estate professional who may be able to help.

Some of the other couples profiled in Our America: Lowballed noted that they asked white friends to act as proxies to help them get a fair evaluation for their homes. One family had a friend pose as the owner of their home. It was evaluated for over 50% more than their previous appraisal while she was there.

Some interviewees even reported that homeowners were swapping out family photos in the home for pictures of white families.

At the time, the documentary was credited in leading to new California laws and reform in the appraisal industry. Former President Joe Biden also vowed action on racial discrimination in the real estate industry.

Now, however, the guardrails that helped families like the Curtises are coming down. ABC7 News reports that President Trump’s Department of Housing and Urban Development “appears to be dismantling how it handles alleged acts of discrimination.” They further report that the webpage dedicated to appraisal bias on the department’s site was deleted, then archived.

How to ensure your home is properly appraised

There are dufferent types of home appraisals. In a traditional one, the appraiser will come into your home, collect relevant info, ask questions about any work you’ve done to the property and compare your home with similar properties in your area. These appraisals are most common when your home is being sold, and can be costly.

But there are also county appraisals, where a picture of the exterior of your home is taken and compared to similar homes in the area, without an inspection. Online appraisals are also becoming more popular, particularly with some mortgage companies, as they can cost less. The value of your home is simply based on searching for comparable homes in your area.

If you think your home is likely to be undervalued in an online or county appraisal, you can insist on a traditional appraisal. If you’re post-appraisal and looking at a valuation that’s below your expectation, make sure you review it to ensure all your property details are correct. Look at the homes used as comparables and evaluate whether they seem genuinely similar. If you ask for a reappraisal, you should document all the ways in which you feel your home was undervalued.

You can also ask for a second opinion with a different appraisal company, though this process can get costly. According to Angi.com, the average cost of a home appraisal is $358, nationally, but can be double that depending on your location.

Finally, if you feel that you have been the victim of discrimination, the Appraisal Complaint National Hotline will take your report via email or phone, call 1-877-739-0096.

Be sure to look for local or state advocacy groups, who can help connect you to resources to challenge your low appraisal, and help you get in touch with fair and ethical appraisers.

If you live in the Bay Area, the Fair Housing Advocates of Northern California (FHANC) is a non-profit dedicated to equal housing opportunity.

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Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Vitalii Stefurac, a South Florida man, is accused of defrauding Alan Sue of nearly $300,000 in a wire fraud crime.

Stefurac, who also went by the alias Viktor, was the owner of Dream Auto Collection, a luxury car dealership in Hollywood, Florida, specializing in imported vehicles.

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In 2023, Sue, 78, ordered a Mercedes-Benz G63 with a rare BRABUS package for $275,000. He wired the money in two installments but never received the luxury vehicle. Records show that the car in question was sold to another buyer.

After months of investigation, federal agents arrested Stefurac just before he boarded a flight from Miami to Cuba. His final destination was reportedly Russia, a country he is known to have visited several times.

Tracking down an accused fraudster

In an interview with WPLG News in Florida last year, Sue described the experience as emotionally and financially draining.

“I thought about killing myself … I’ll say it right out — I was stupid and foolish,” the Hawaiian resident said. “I think Viktor took my money and went on expensive vacations.

“He went to Nepal and climbed some mountain — sent me a picture,” Sue added. “I think he went to Europe, too. I think it was all on my money.”

Stefurac appeared in federal court in Fort Lauderdale earlier this month. His bond was set at $100,000, although prosecutors argued he posed a flight risk. As for Sue, it remains unclear whether he will be reimbursed for the cost of the car and his legal expenses.

How to avoid phony dealerships

Scams like this just don’t happen with big-ticket items — they can happen to anyone. Here are some key signs to look out for to protect yourself when you’re in the market for a new or used car.

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1. Avoid wire transfers or upfront payments

Licensed car dealers typically do not request wire transfers or large upfront payments. If you’re dealing with a private seller, don’t give in to pressure — inspect the vehicle thoroughly before handing over any money. Always conduct transactions in person, document everything and don’t hesitate to walk away if something feels off. To stay safe, buy only from registered dealers.

2. Do your own research

Always get a CARFAX report yourself, even when buying from a registered dealership. Their reports may be outdated or inaccurate. Before visiting the lot, research fair pricing for the vehicle you’re interested in. If you’re trading in a car, don’t rely solely on the dealer’s valuation — check the fair market price yourself and shop around for better deals.

When buying from a used lot or private seller, verify the legal ownership of the vehicle. Inspect registration documents and request a vehicle history report. Your local police department can check the vehicle identification number (VIN) to ensure it has not been stolen. VIN inconsistencies between parts may indicate past crashes or swapped components.

3. Get an inspection from a trusted mechanic

Always inspect the car in person — don’t rely on photos. A trusted mechanic can alert you to potential problems, such as costly repairs, evidence of previous accidents or modifications that might be illegal in your area, such as dark window tint or loud exhaust systems. If a seller resists a pre-purchase inspection, that’s a red flag.

4. Hold on to your keys

If you’re trading in your car, dealerships may ask for your keys to assess its trade-in value. However, some shady operations use this as a high-pressure tactic — stalling or refusing to return your keys until you agree to buy.

Make it clear you’re just browsing and keep your key until you’re ready to decide. Delaying a trade-in inspection until a second or third visit is acceptable.

Remember, you’re in control of buying the car. Understanding common sales tactics can help you avoid being manipulated into a bad deal. With the right research and preparation, you can find a trustworthy dealership and a car that meets your needs and budget.

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• JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it’s too late)
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• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.