San Mateo: You Should Know

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With how quickly the rules are changing, it’s tough to stay current with it all.  The Federal Deposit Insurance Corporation (FDIC) guidelines have been adjusted, but just for a short period of time. 

Prior to October 3 of this year, the FDIC insured your deposits up to $100,000 per bank – my interpretation.  The FDIC explains it this way, “…you may qualify for more than $100,000 in coverage at each insured bank if you own deposit accounts in different “ownership categories.”

From now until December 31, 2009 up to $250,000 will be insured per bank.  If you open a two-year CD for $250,000, 150k of it will not be insured throughout your deposit term.

So before you make that deposit, understand the new rules by reading the FDIC’s Top Ten Misconceptions.

Got a San Mateo County real estate question?   Call me at 650.888.9268 or send me an email Vicki [at] CallVicki.com.   If you like what you’ve read, subscribe to the San Mateo Real Estate Blog feed.     

Start your San Mateo home search here.

All the best,
Vicki Moore

Vicki Moore About Vicki Moore

Office:
RE/MAX Star Properties
282 Redwood Shores Parkway
Redwood Shores, CA 94065

By Phone:
650.888.9268

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