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  • Study: Bank payday loans keep borrowers trapped in cycle of debt
    Borrowers who use bank payday loans tend to become trapped in a long-term cycle of debt, according to a recent study from the Center for Responsible Lending.
    [July 29th, 2011]
  • Six steps to build your savings
    If you are relying too heavily on payday loans and lack the savings to handle an unexpected medical bill or car repair, you need to focus on creating a personal emergency fund. Find out how to build your own safety net.
    [July 29th, 2011]
  • Wealth gap widens between whites, blacks, Hispanics
    The wealth gap between whites and blacks and Hispanics has risen to a record high, according to a new report from the Pew Research Center.
    [July 28th, 2011]
  • Turned down for auto loans or given bad rates? Now you’ll know why
    A new law means that you're now entitled to be told why you've been turned down for auto loans or other forms of borrowing. Given that up to 70 percent of credit reports in this country contain errors, that could make a real difference to your chances of buying a new or used car.
    [July 25th, 2011]
  • Rent-to-own instead of a loan?
    Expect to pay exorbitant rates of interest when using rent-to-own stores.
    [July 21st, 2011]
  • Should first-time homebuyers take the plunge?
    Despite the housing market's woes, it could be a good time for first-time homebuyers to take advantage of low mortgage rates and affordable home prices.
    [July 21st, 2011]
  • Is it worth tapping your savings for a cash-in mortgage refinance?
    If you, like many homeowners, have less equity in your home than you once did, you may believe a refinance is impossible for you. However, many homeowners have opted for a cash-in refinance in order to take advantage of low mortgage rates.
    [July 20th, 2011]
  • Your last chance for cheap auto loans?
    While Congress and the President play chicken over the debt ceiling, consumers should be very worried indeed about the prospect of much higher interest rates if an agreement isn't reached before August 2.
    [July 18th, 2011]
  • Should you get a loan from a credit union?
    Membership in credit unions rose by more than 300,000 in the first quarter of 2011, according to the National Credit Union Administration. A growing number of consumers are turning to credit unions rather than banks because they are tired of having fees increase while customer service declines.
    [July 15th, 2011]
  • 7 ways to avoid payday loans
    If you are in dire need of cash, quick payday loans can be a lifesaver. If they become addictive or too expensive, however, there are alternatives and ways to break the payday-loan habit.
    [July 15th, 2011]
  • R. Kelly joins mortgage borrowers facing foreclosure
    R&B singer R. Kelly is facing foreclosure on his Chicago-area mansion, a reminder that mortgage woes plague borrowers at all income levels.
    [July 13th, 2011]
  • Will dealerships’ auto loan scams finally be ended?
    Some car dealerships practice breathtaking scams when they arrange auto loans. The Federal Trade Commission has begun a probe into these sometimes near-criminal acts. But will it really end them? And what can you do to protect yourself in the meantime?
    [July 11th, 2011]
  • Personal loans from P2P lenders are helping many
    Peer-to-peer lending sites are helping many people who couldn't get a loan from a bank. But that doesn't mean everyone can get approved.
    [July 8th, 2011]
  • Mortgage rates not the only reason for refinancing
    Demand for home loans may slow when rates increase, but current low mortgage rates are providing homeowners a great opportunity for refinancing. Consider your reasons for refinancing and potential savings before you decide.
    [July 8th, 2011]
  • Should you get a mortgage to buy a multi-family property?
    Are you ready to be a landlord? Make sure you do your homework before getting a mortgage loan for a multi-family property.
    [July 6th, 2011]
  • Mortgage lenders keep tight rein on loan approvals
    If you were one of the many consumers turned down for a home mortgage last year, it may be a small consolation to know you were not alone. According to The Wall Street Journal, mortgage lenders rejected more applications in 2010 than in 2009.
    [July 6th, 2011]
  • Auto loans on Independence Day
    One columnist suggests you take the opportunity of the Fourth of July holiday to discuss auto loans with your family. Whether or not you think that's a good idea, here's some sound advice if you're shopping for auto loans.
    [July 4th, 2011]
  • 5 things to do before getting a personal loan
    Applying for a personal loan is just one way to raise cash. Make sure you've exhausted other options for getting the money you need before applying for a loan.
    [July 1st, 2011]
  • Avoiding credit card debt
    One of the main reasons many consumers turn to quick payday loans is that they have gotten themselves deeply into credit card debt. The National Credit Union Administration offers tips to consumers to avoid some common credit mistakes.
    [July 1st, 2011]
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