Short-Term vs. Long-Term Loan A loan is a principle amount that is received by the borrower from the lender as a debt for a certain period of time for the repayment of the principle with an assigned interest. Loans can be provided by financial institutions, banks, or peer-to-peer etc. Loans differ by their features such as the […]
Short Term Loan vs. Long Term Loan – Which One to Choose? Read More »
Peer-to-Peer lending This form of lending is the oldest form of lending. Originally it was borrowing from family members or members of your local community but times changed and professional money lenders developed. Over time, these money-lenders became banks. But today with the global communications network things have come full circle. Peer-to-Peer lending is a
What is Peer-to-Peer Lending? Read More »
Editor’s Note: Although they sound alike, Private mortgage insurance (PMI) and mortgage protection insurance (MPI) are two entirely different types of insurance created for vastly different purposes. What is Mortgage Protection Insurance (MPI)? Mortgage protection insurance is essentially a life insurance policy designed to pay off your mortgage in the event of your death so
Mortgage Protection Insurance vs Private Mortgage Insurance? Read More »
Unusual Loan Requests Although we strongly suggest that you not take out a loan for frivilous purposes many people haven’t saved enough to make the larger purchases they want. In the runup to the housing crash lenders would make loans for almost any purpose. Lenders still required that you to tell them what the applicant wanted the loan for.
Most Unusual Reasons for Applying for a Loan Read More »
The subject of loans and credit can be a bit overwhelming if you haven’t spent any time researching and understanding them. There are endless different types of loans on the market… for example, unsecured loans, secured loans, credit cards, overdrafts, payday loans, personal loans, etc. So it’s important that you understand your credit situation in
Which Type of Loan is Best? Read More »
Mortgage Insurance Premiums If you are buying a new home but don’t have a 20 percent down payment, your mortgage company will require that you have mortgage insurance. The major disadvantage of mortgage insurance is that you as the borrower pay the premiums but the benefits go to the lender. If a borrower defaults on a loan, mortgage insurance pays funds to
Should I Roll My Mortgage Insurance Premiums Into the Loan? Read More »
In Debt? With the recent economy in the condition that it is, loans and debts are multiplying by the day. These days people will get into debt to buy almost anything. Buying a car or a home? You can get a loan. People even get loans for appliances, furniture and big screen TV’s. People think, these loans replace having ready-cash. But more
Free Yourself From Debt Read More »
By Alex Daley, Casey Research The average interest rate for a savings account today is 0.45%. It wasn’t that long ago that one could easily earn 5% in a well-chosen savings account, like those offered by ING Direct, or bump that up by a point or two by putting money away in a CD. Thanks
Ten Percent Yields Without Buying a Single Stock? Read More »
Having children requires a considerable financial investment. It calls for clothes to be bought, education costs to be paid, and years of doctor’s appointments to cover, and that doesn’t even include the cost of the latest iPad or camera phone. But what if your child is 30 years old, and hasn’t lived under your roof
Is Financing Your Child’s Mortgage Right for Your Family? Read More »
Home equity is the difference between the amount you owe on your loan, and the amount your home is worth. Building equity is like saving, but without you having to do a thing. Your home increases in value without you have to do anything other than maintain it, and as long as you pay your
Tips to Generate Home Equity Read More »
A “Low Doc” or sometimes called “Low Doc Home loan” are mortgage or home loans where documentation for verification of your income is not required. However, all other documentation is. These loans are ideally suited to self-employed, independent contractors, investors, credit rating impaired, ex-bankrupt or clients with arrears on current mortgages and borrowers who have
What’s a No Doc Or Low Doc Home Loan? Read More »
For years, lenders have utilized “credit scoring” to determine whether or not an individual is a good credit risk. Credit scoring has recently become a hot topic, due in large part by the mortgage lending industry’s willingness to use the process to evaluate one’s likelihood of repaying home mortgage refinancing or second mortgage loans. Even
Credit Scoring On Mortgage Refinancing Read More »
