Loans Archive

Two of the biggest players in the recent economic and financial debacle were the government sponsored enterprises known colloquially as Fannie Mae and Freddie Mac. But what exactly are they? What did they do to …

The recent major shift in real estate prices requires a shift in strategy when it comes to buying real estate with no money down. The real estate market continues to go bust as I had …

What is Mortgage Insurance, and how can we avoid paying it? Let’s start with a little history. It used to be customary in the housing market for purchasers to apply a down payment of at …

When it comes to your mortgage payment, not everything about it is set in stone. For most families, the mortgage payment is the single largest household expense they have, and saving money on the mortgage …

How to get a personal loan fast is a conundrum which most people could conceivably face at any time in their lives. There are always unexpected hurdles lurking around the next corner in life and …

When you graduate from college and work in a career that is part of the public service, you can have your student loan forgiven under the Public Service Loan Forgiveness Program. This program was initiated as …

The UK government may well support the idea of more home ownership and the importance of first time buyers having the opportunity to become home owners, but their good intentions are likely to mean little …

A 40-year mortgage is primarily designed to afford mortgagees lower monthly payments by stretching the amortization period significantly. While it is deemed a high-risk move by many financial analysts and advisors, it can be a …

I do think that the government should bail out student loan interest rate and fee payments for assuming the student loan at minimum. I think the new interest rate reduction laws on Stafford loans are a start but …

A reverse mortgage goes against the common understanding of what a mortgage is supposed to be and this makes it a difficult concept to grasp. Take a look at the following questions and answers as …

Sallie Mae offers many 529 plan options for college savers.  But first off, what is Sallie Mae and what is a 529 plan? “Sallie Mae” is the colloquial name by which the SLM Corporation is …

When is a personal loan a good idea? There are a number of instances when taking out a personal loan can be of benefit. It may be prudent to recap briefly on a few instances …

As the opposite of a conventional mortgage, a reverse mortgage pays senior citizens by liquidating their property. Reverse mortgages are advertised as the financial solution for those above age 62 who own a home and …

Student loans are absolutely crucial for most people who want to acquire a college education today as the costs are prohibitively high. As more people are encouraged to continue with their education and obtain a …

There are several different reasons why home owners consider refinancing, but with lenders following tighter lending practices it is no longer as easy to do. The Federal Reserve has issued guidelines advising that borrowers should …

Home mortgages come in a variety of shapes, sizes and colors; enough to suit the needs of virtually any consumer who is credit qualified. However, mortgages are a “one size fits all” idea, they are …

There are many aspects in finding out how much your home is worth. In the first place the price you will get it when you sell your house and on the second place the emotional …

Mortgages are generally considered one of the good types of debt as they allow the purchase of a home which is too expensive for most people to ever consider as a cash purchase. Whilst the …

Did you know it is possible to get a loan after a bankruptcy? It is possible to get a loan after a bankruptcy has been discharged. If you reaffirmed on a car payment or a …

For most homebuyers, buying a home goes hand in hand with getting a mortgage. However, what most homebuyers do not know is how to avoid some of the most common mortgage pitfalls that will wind …

Comparing APR and APY to determine your mortgage rates can be daunting. The two acronyms are virtually identical. However, it’s simple to explain the difference and with a simple mnemonic you’ll always be able to …

A subprime mortgage is a mortgage which is granted by a subprime lending institution to those who do not meet the qualifications to be approved for a conventional bank mortgage. The banks do not grant …

Typically, with a home equity loan you can utilize the funds for just about anything – a new car, a crazy weekend in Vegas, or more intelligent things such as home improvements or paying off …

It is a rare individual who can obtain a prohibitively expensive college education without taking out a loan of some kind, even if subsidized with scholarships or family help. Luckily there are Federal aid loans …

Personally I feel that this county needs Student Loan Reform every bit as much as it needs Health Care Reform.  Talk about an abuse of the system!  First of all, there are Student Loans available …

Disadvantages of reverse mortgages exist in addition to the advantages, however the disadvantages aren’t always consistently applicable to all mortgagees. Since reverse mortgages are crafty yet worldly-wise financial instruments that may or may not be …

Having bad credit does not mean that auto loans are unavailable. The auto industry wants and needs all of the business that it can get, and will help find ways to help you finance a …

The advent of 40 year mortgages is likely to be criticised in retrospect as yet another bad decision by the mortgage industry, as they fly in the face of prudent borrowing. They enable borrowers to …

The consequences of mortgage default can be severe and should be avoided at all costs. There are a myriad of reasons which can lead to someone defaulting on their home mortgage. Typically borrowing too much …

It is a long held British view that an ‘Englishman’s home is his castle’ and becoming a home owner has been a traditional aspiration of many. Each generation sees a new round of first time …