If you’re looking for a mortgage loan, you may think you have to go through a bank. You would be wrong! In fact, half of all home loans are through non-bank lending – also known as alternative lending. As the name implies, a non-bank lender is not a bank or credit union. It can be […]
There comes a time in most people’s lives when you find it necessary to go through the process of applying for a loan. It may be for a car, a home, or to help pay for school tuition, but the underlying process of getting a loan is what fuels the consumer economy of the United States. You might not know how to think about this new financial aspect of your budget though, so here are a few things everyone should understand about the American credit and debt industry.
Buying a home is the biggest single purchase most people will make in their entire lives and so it is also an opportunity to make one of the biggest mistakes as people learned beginning in 2008. Up until then the new millenium only included rising home prices and so even a bad deal would come out good if you waited long enough. But then according to RealtyTrac, in 2007 the tide began to turn and over a million foreclosure filings were recorded.
Cutting small expenses from your budget can make a difference, but the best way to make a large impact on your household spending is to hack your mortgage expenses. Because a mortgage is the largest expense for many American households, taking these sneaky steps to reduce your mortgage terms can save you thousands of dollars over the life of the loan.
Being overwhelmed by finances is never good, but we all know the feeling. Creating a budget is a good place to start, but if you don’t know the truth about different kinds of debt it will be hard to know what you’re getting into. Before you get in debt, you should know what types there are and how to avoid them if possible.
Just about everyone enjoys a summer vacation. Unfortunately, planning a vacation is easier said than done. Family finances typically dictate if and when you’re able to vacation. And if you haven’t saved up enough, you might consider postponing this year’s trip. There is, however, a way to make a vacation happen. you may be considering a […]
Finishing university and starting a new phase in your life is an exciting time when you leave behind the wild days of your student life and embark on a career. This also is the time when reality hits you and you realize that you have a hefty student loan to repay. It can be disconcerting to look […]
Lending between family members, can benefit both sides. It’s a way to access needed money without the time, fees and high interest rates of official bank borrowing, plus in these times of low interest rates it can provide the family member who has the spare cash a way of earning a bit more interest. This can be a […]