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  • Personal Loan or Credit Card Cash Advance?
    Should you use a personal loan or a credit card cash advance to consolidate debt? Here are some tips to help you decide.
    [August 31st, 2009]
  • Protect Your Credit So You’ll Qualify for a Mortgage Loan
    It’s important for individuals to monitor their credit. Mortgage lenders, credit card firms, and banks are among the companies that routinely request credit reports from consumers who seek to do business with them. Here are some tips to help people establish and protect their credit. What Credit Reports Reveal about Potential Borrowers Some people wonder why credit reports matter [...]
    [August 29th, 2009]
  • On-line Payday Loans: How to Apply without Leaving the House
    On-line payday loans are the best of all worlds--fast cash for unexpected emergencies, no credit checks and an application process that's as fast as a few clicks of your mouse. Here's how to apply for online payday loans without ever leaving the comforts of home.
    [August 27th, 2009]
  • Three Political Changes That Could Change Refinance Realities
    Home refinancing news is perhaps not quite as entertaining as following the beginning of football season, but the financial impact of mortgage finance news can be much more significant. One factor–perhaps the main factor–that could really and suddenly change the refinance options of borrowers is politics. Here are three politically-motivated changes that are being discussed and would [...]
    [August 27th, 2009]
  • Personal Loan Privacy Concerns: The Forgotten Factor
    When seeking out an unsecured personal loan, privacy protection is not usually the top of mind consideration for most borrowers. Getting approved for the loan is the main idea. But privacy is important and should be considered as part of every personal loan transaction. Personal Loan Information Is Personal Privacy should be a concern for personal loan transactions because [...]
    [August 27th, 2009]
  • Wells Fargo Sued For Reducing HELOC
    Are current regulations making it too easy for a bank to take away your home equity line?  Consider a business owner who may need to buy equipment to diversify in this changing economy.  What if his source of funds was a home equity loan that was taken away without notice?  Maybe the business owner would go [...]
    [August 26th, 2009]
  • 5 Things to Consider Before Getting a Personal Loan
    Here are five things to consider before getting a personal loan.
    [August 24th, 2009]
  • Low Mortgage Rates, Tax Incentives Woo First Time Homebuyers
    As of August 20, mortgage rates fell again. Freddie Macnotes that average rates for a 30 year fixed rate mortgage (FRM) fell from 5.29% to 5.12 percent. Average rates for a 15 year FRM were 4.56%., the lowest rates reported since May. Lower mortgage rates, coupled with an $8000 tax incentive for first time buyers, may warm [...]
    [August 24th, 2009]
  • No More Cash for Clunkers: Tips for Saving on Auto Loans
    As the government’s “Cash for Clunkers” program ends, news reports cite a ripple effect of the program’s benefits from car dealers to auto scrap yards and auto parts retailers. Meanwhile, auto shoppers will be looking for cheap auto loans. Here are some ideas for finding affordable vehicles and auto loans. Model year end sales: As 2010 models [...]
    [August 24th, 2009]
  • Five Extreme Ways to Get Out of Debt
    With financial growth and a positive stock market peeking out from the recession’s storm clouds, it’s a perfect time to think about using our newfound frugality to get out of debt. As Americans earn merit increases and bonuses near the end of the year, it’s time to consider plowing some “found money” toward the credit [...]
    [August 23rd, 2009]
  • Delinquencies and Tighter Lending Could Make Debt Consolidation Much Tougher In The Future
    Fed’s Quarterly Survey Reveals Creditor Believe Credit Crunch Will Persist In the Federal Reserve’s latest survey of creditors and banks, data showed that lending standards grew even tighter for almost every type of consumer debt. Ranging from personal loans to credit cards and residential mortgages, senior loan officers commented that lending guidelines and requirements continued to [...]
    [August 21st, 2009]
  • Self-Employed and Looking to Refinance: Any News?
    In past years, “Alt-A” and “stated income” mortgage loan programs could be used to help self-employed borrowers qualify for a purchase or refinance mortgage even if the required debt-to-income ratios were not fully met with documented tax returns. These Alt-A and stated income loan programs are no longer available, even to borrowers with great credit [...]
    [August 20th, 2009]
  • Consolidate Payday Loans: 4 Options to Consider
    The word is out about how easy it is to acquire payday loans for financial emergencies. In fact, the simplicity of the process and the virtual guaranteed approval has resulted in some consumers having to manage several payday loans simultaneously. If you’re looking to combine those loans into one easy payment, here are some options [...]
    [August 20th, 2009]
  • Ten Reasons to Get Out of Debt: Dirty Collector Tricks
    While many debt collection agencies perform legitimate work for credit card issuers, banks, and other lenders, some rogue collectors have drawn the attention of law enforcement officials for their dishonest and illegal behavior. If you need some inspiration to get out of debt faster, learn about these ten extreme cases of collector misconduct: Submitting false reports. [...]
    [August 19th, 2009]
  • Personal Loans Can Change Lives for the Better
    Social lending organizations like Kiva.com make the case explicitly: personal loans can change lives for the better. But the good a personal loan can do is not only confined to charity-focused activities. Unsecured personal loans can do real good in the real world even if they’re given by a for-profit organization. Used correctly by the borrower, [...]
    [August 18th, 2009]
  • Four Things To Consider When Choosing Between A HELOC And A Reverse Mortgage
    1. Like HELOCs, Reverse Mortgages Still Need To Be Repaid A reverse mortgage is essentially an interest-only loan that capitalizes the principal balance along with the interest finance charges. Over time, the loan balance grows in size because of the monthly payments made to the homeowner and the interest charges that accrue over time. Unlike a [...]
    [August 18th, 2009]
  • 60 Second Guide to Debt Consolidation Loans
    Borrowers who are juggling multiple payments on loans and/or credit cards may find some relief through debt consolidation. Getting a debt consolidation loan doesn’t mean a borrower doesn’t have to pay off his debts. It can, however, allow him to lower the overall interest rate and monthly payments, making it easier to pay off more than [...]
    [August 17th, 2009]
  • Eliminate Credit Card Debt Before New Rules Take Effect
    Some of us need a little external motivation to get things done. Your house probably looks a little cleaner than usual when relatives come to visit. Your car looks spiffier when it’s your turn to host the carpool. And you probably tend to avoid fried foods for a few days before your physical. For Americans [...]
    [August 15th, 2009]
  • Are Home Equity Loans Affecting U.S. Savings?
    It could be just a coincidence, but at the same time that the banks are freezing and closing home equity lines of credit, the U.S. savings rate hit a high of 6.9% in May- the highest it has been since 1993.  Could it be that without the cushion of a large HELOC, people have decided they need more money in [...]
    [August 14th, 2009]
  • Reverse Mortgage Pros and Cons
    Reverse mortgages have been around for about 20 years, but are getting more attention than ever. That’s because many older Americans have taken huge hits to their retirement funds and are searching for additional sources of income. Reverse mortgages have been the subject of hot debate recently as some people have questioned whether they do more [...]
    [August 14th, 2009]
  • Three Best Ways to Get an Affordable Personal Loan
    Thousands of people are searching online for unsecured personal loans at any given time. Some of those searchers will find personal loans that charge very high interest rates or fees. Some will get great deals on personal loans with minimal hassle. It’s better to be part of this second group. Here are three ways to stay [...]
    [August 13th, 2009]
  • Fed Meeting May Determine Future of Lender Assistance
    The results of today’s meeting of the Federal Reserve could indicate if and when the federal government will continue to funnel cash into programs including cash infusions to US lending institutions. Should the Fed stop assistance to lenders, there may be even fewer auto loan options available to consumers. If you’re in the market for a vehicle [...]
    [August 12th, 2009]
  • 5-Year Option ARM Home Loans to Reset in 2010
    The home loan that has become the poster child for mortgage finance excess and error, the so-called “Option ARM,” is starting to wedge its way back into the home refinance news cycle. Five-year Option Adjustable Rate Mortgages taken out in 2005, that is, are due to reset in 2010. An Option ARM loan customarily begins with [...]
    [August 12th, 2009]
  • Five Weekly Debt Solutions to Avoid Payment Shock
    In an interview with the Longview News-Journal, the Chief Executive Officer of the Consumer Protection interview noted that 37 million Americans found themselves facing debt collectors in 2008. Steve Sussman went on to say that eighty percent of those debtors, with no clear ideas about how to get out of debt, simply ignore the calls [...]
    [August 11th, 2009]
  • Mortgage Interest Rates Rise, Paychecks Don’t
    Homeowners facing pay cuts or unemployment encounter financial problems as their income decreases or disappears while mortgage payments remain the same. As pay cuts and unemployment looms, homeowners are looking for ways to reduce debt. Although mortgage interest rates are rising, they are still low enough to provide attractive opportunities for homeowners who wish to lower their mortgage payments [...]
    [August 10th, 2009]
  • Scam Targets Borrowers of Payday Loans
    The Better Business Bureau (BBB) has issued a warning about phony debt collectors harassing people about payday loans. The callers claim that people have defaulted on payday loans and threaten them with jail time unless they pay up. Here’s what to know about this latest scam and how to avoid becoming a victim. No Credit Check [...]
    [August 10th, 2009]
  • Mortgage Debt Consolidation Solutions In Jeopardy As Negative Equity Concerns Continue
    Debt Consolidation Loans And Mortgages Compared to other debt consolidation loan alternatives, new mortgages and home equity loans have proved the best method of consolidation because of their significantly lower interest rates. But as home equity prices continue to decline in many areas, consolidating through a mortgage is becoming trickier than ever. While the rate savings [...]
    [August 7th, 2009]
  • How to Use Payday Loans for Bad Credit to Create Good Credit
    If you’re consumer-conscious, chances are you already know how the credit bureaus report your activity and how credit can affect your lifestyle. But what you might not know is that you can use payday loans for bad credit to actually repair an ailing score. Here are some tips on how to make that happen. According to [...]
    [August 6th, 2009]
  • Three Options for Refinancing a Jumbo Home Loan With Reduced Income
    For homeowners with home loan amounts of $417,000 or less, the Obama Administration’s Home Affordable Refinance Program can help get that tough refinance done. This so-called “conforming loan limit” is acting as a sort of dividing line between those who are eligible for government mortgage refinance assistance and those who aren’t. It’s not really a surprise, [...]
    [August 5th, 2009]
  • 3 Thoughts About How Americans Are Re-Thinking Debt Dependency
    There’s nothing wrong with taking out a loan. In fact, loans are an extremely important part of life. From the personal loan that helps you pay for a wedding to the mortgage that helps you buy that first house, loans can definitely be your friend. Too many loans, especially too many high interest loans, however, can [...]
    [August 5th, 2009]
  • How To Get The Best Home Equity Loan With, Or Without, The New Disclosure Laws
    Federal Reserve Board Propose Several Changes To Truth In Lending Act (Regulation Z) Near the end of July, the Federal Reserve Board proposed a series of significant changes to affect Regulation Z, more commonly known as the Truth In Lending Act. These proposed changes aim to improve existing disclosures for borrowers obtaining close-end mortgages and home [...]
    [August 4th, 2009]
  • Short-term Loans from Credit Unions May Have High Fees
    Payday loans were discussed in a recent post that focused on how people can become trapped in a cycle of borrowing by rolling over loans. But payday lenders aren’t the only place people can turn to get fast loans. Some credit unions offer borrowers quick loans against their next paycheck, as an alternative to payday loans. But in [...]
    [August 3rd, 2009]
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