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ENB Insights

April 20, 2020

Pros and Cons of Using a HELOC During a Financial Emergency

Financial experts recommend households maintain an emergency savings account equal to six months of living expenses. A hefty savings balance ensures there's enough money to pay bills and buy groceries in the event of an unexpected job loss, health diagnosis, or significant expense that would otherwise derail your budget. Many Americans fall short of this savings ideal. A recent Economic Well-Being study found that four out of ten U.S. households would have trouble covering an emergency expense as small as $400. 

April 10, 2020

How Credit Affects Your Home Buying Options

Rising property values and shrinking inventories make for a competitive housing market. You’ve probably witnessed homes that initially fell within your home buying budget succumb to a bidding war before vanishing from MLS listings, often within days. It can make you question whether homeownership is possible.

March 26, 2020

Types of Mortgage Loans: A Quick Comparison

If you’re shopping for a new home, figuring out financing options is likely on your to-do list. The earlier you learn about your mortgage choices, the more time you have to prepare financially for closing. While this is good news, it doesn’t make reviewing home loan details feel less intimidating. A vast array of possibilities, lengthy explanations, and confusing terms can make it seem like you’ve enrolled in a college-level finance class against your will.

March 06, 2020

How Does a Home Equity Line of Credit Work?

Homeownership has its advantages. Saying “goodbye” to renting often means saying “hello” to increased square footage, stable housing payments, and potential tax benefits. It also provides an opportunity to build equity, the difference between the mortgage balance and the market value of the home, in an appreciating asset. The good news gets even better when homeowners learn they don’t have to sell their homes to access that equity. They can use a home equity line of credit to access the cash value in their homes today.

November 19, 2019

3 Homebuyer Challenges a Construction Loan Can Solve

Existing home inventory is low. This is excellent news for sellers. National Association of Realtor data found existing single-family home prices increased by 4.3% during the second quarter of 2019. In this environment, listing homes at the higher end of the market is unlikely to deter eager buyers. Increased housing demand and low inventory can lead to homes selling quickly, at or above the asking price.

November 18, 2019

12 Ways to Protect Your Mobile Device

Your mobile device provides convenient access to your email, bank and social media accounts. Unfortunately, it can potentially provide the same convenient access for criminals. Ephrata National Bank recommends following these tips to keep your information – and your money – safe.

November 15, 2019

Teaching Good Savings Habits in Kids: The Missing Link

Marshmallows and savings habits might have a lot in common. A Stanford University study, led by Dr. Walter Mischel, highlighted the power of delayed gratification. The series of studies began in the early 1960s by examining the reactions of preschoolers when given a set of seemingly simple choices:

October 23, 2019

Vishing Scam Alert

ENB has become aware of a new vishing scam in which reports indicate some of our customers have been targeted.  Perpetrators of this scam call ENB customers posing as a "Security Officer from Ephrata National Bank".  The caller then asks the customer to confirm suspicious transactions on their accounts. Once the customer confirms the transactions are not valid, the fraudster…

October 18, 2019

Tips to Thwart Ransomware Attacks

Individuals and businesses have become targets to a growing online fraud scheme known as ransomware. Ransomware is a form of malware used by cyber criminals to freeze your computer or mobile device, steal your data and demand a “ransom” —  typically anywhere from a couple of hundreds to thousands of dollars — be paid.

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