Are Secured Loans the Answer?
July 18, 2010
Homeowners needing some spare cash are being attracted to secured loans as interest rates fall, despite the risks.
As personal loans and credit cards become harder to find with lenders being more selective, consumers are putting their properties up as security.
“There is no doubt that unsecured loan companies are tightening up their lending criteria, secured loans are becoming a very viable option as a result” says Tim M Read more
Are Secured Loans Still A Safe Bet?
May 19, 2010
A secured loan is a loan that is secured against the property, and in effect is the same as a second mortgage. As with the mortgage itself failure to make repayments on your secured loan can result in the loss of your home, so anyone that is considering this sort of loan needs to bear in mind the importance of keeping up with repayments. The nature of these loans means that secured loans are only available to homeowners.
In the pa Read more
Secured Loans Versus Unsecured Loans: Which is the Smarter Move?
May 16, 2010
When searching for a personal loan, there’s a lot to consider. After all, there are numerous types of loans, with each suiting a different financial objective. And with each of these loans comes a host of decisions to make regarding repayment options, risks, interest rates and mortgage protection. So, where should you start? Begin with the basic question: secured or unsecured?
Amidst all the technicalities of obtaining a persona Read more
Federal Consolidation Student Loans – Difference Between Federal and Private Student Loan Consolidation
February 26, 2010
The best tool for managing a few debts is the student loan consolidation. This helps you mix all your private or federal student loans into a single one with longer terms and affordable payment.
In the US, there are two types of student loan categories available: the federal student loans and the private student loans.
The federal student loan consolidation will help a student combine all his loans into a s Read more
Parents Feel Relief When Kids Consolidate Student Loans
February 21, 2010
When students or parents decide to consolidate student loans, it can take much of the financial burden off of the parents. The college years are costly and lengthy, but supportive parents do what they can to help their kids make it through and graduate. This often involves taking out loans to help pay for tuition, room and board, books, and other college expenses. By the time little Susie walks to Pomp and Circumstance, there can be several loans Read more
What you Need to Know about Consolidating Student Loans
February 15, 2010
Chances are if you’ve taken out student loans in order to finance your education you have been, or at least will be, receiving calls and offers in the mail to consolidate your student loans. There are actually numerous advantages to consolidating your student loans. In addition to gaining a fixed interest rate you can also potentially lower your monthly payments. In the event that you begin to experience financial difficulties, you may also be ab Read more
How To Use A Military Mortgage
February 5, 2010
Active duty military personnel who are having financial problems with their mortgage payments have some avenue of help under the Soldiers and Sailors Relief Act which can be very beneficial to them and to their families.
Who is eligible for this program?
The provisions of the SSRA apply to active duty military personnel who had a mortgage obligation prior to enlistment or prior to being ordered to active duty (for Re Read more
Students Should Consolidate Student Loans Before July 1 Following Repeal of Single-Lender Rule
February 3, 2010
Students Should Consolidate Student Loans Before July 1 Following Repeal of Single-Lender Rule
The single-lender rule was repealed June 15, 2006 when President Bush signed the emergency supplemental spending package, H.R. 4939, into law, following the Senate’s approval. In a vote of 98-1, the Senate passed the bill earlier in the day after it passed the House June 13 with a vote of 351-67.
With the repeal of the single-lender Read more
Mortgage Interest Rates Fall Again
January 21, 2010
For the second week in a row mortgage rates have fallen. For those that don’t read my updates regularly I wanted to give a short background on what rates have been doing. From the end of April to the beginning of June 30 year mortgage rates hovered around 6 percent. Then during the month of June 30 year mortgage interest rates rose peaking out at 6.45 at the end of June. But since then rates have fallen through the month of July ot 6.26. So Read more
Consolidate Student Loans – You May Defer Merging of Loans
January 18, 2010
While it is best to consolidate student loans and be able to pay them all off more effectively, there are times when we simply just need to defer this merging of loans. And likewise, all student borrowers should be reminded that once you have used up all your options on deferment when it comes to your current federal student loans, consolidating such loans can actually offer you with more opportunities to defer.
The most appro Read more