money market vs savings account
I am supposed to close on my home Friday. I haven't found a house to buy so I am storing my household and staying with DD until I find a house I like. My question is: what to do with the money from the closing until I can buy a home. The bank suggested a money market account as it is liquid and I can close it when I want to buy without a penalty. Are there any fees associated with a money market? What are the risks? What is the difference between a regular savings account and a money market? Thank you.