Home Equity Loans vs Home Equity Lines of Credit

June 20, 2013

Your home equity is the market value of your property minus the amount you own on your home loan. Home equity is typically built up over time through your principal payments and real estate appreciation. During periods when home prices are appreciating quickly your home equity will likely increase but in years when the market is […]

How Does a Loan Affect Your Credit Score?

May 8, 2013

You just completed the paperwork on a new loan. Because of your excellent credit score, you got an outstanding rate on the loan. But 30 days later you pull your credit report and find out that your credit score dropped by 40 points. Everything else on your report is consistent with what has been there […]

What to Do if You’re Having Trouble Paying Your Student Loans

April 2, 2013

We’ve all heard it said that student loans cannot be discharged in bankruptcy, so what do you do if your financial situation is a wreck – or if you’re unemployed – and simply don’t have the money to repay? There actually are a couple of ways to manage the situation even if the bankruptcy option […]

Why Debt Consolidation May Not Be Right for You

March 13, 2013

Debt consolidation has become a favorite way to deal with high levels of debt, and this is especially true for credit card debt. The basic concept is simple: roll several high interest credit card debts over into a single, low interest consolidation loan. Generally, the monthly payment on the consolidation loan is substantially lower than […]

5 Small Business Loans and Funding Alternatives to Selling Equity

January 4, 2013

In the current environment, it can be tough to get the funding you need for your business; whether you are starting up or trying to expand. It can be difficult to get a loan from a more traditional bank. Some businesses look for ways to give away equity in the company, with the help of […]

Why You Should Never Co-Sign a Loan

December 28, 2012

There are times when co-signing a loan seems like the right thing to do. It could be to help a young adult child get a car loan or a mortgage to buy a house. Or it could be helping a family member or friend re-establish credit after a bankruptcy or foreclosure. As good as any […]

FHA Loans 101

September 12, 2011

An FHA loan is one of the tools available if you want to buy a home but don’t have much money for a down payment. I actually bought my home with the help of a FHA loan. However, it is important to consider the pros and cons of a FHA loan before jumping in. What […]

401k Loans 101

June 28, 2011

If you’ve been setting investing goals and decided your 401k was a good place to invest your money then you probably have some money built up in your retirement account.  What if you discover you need that money you’ve been putting aside before retirement? You may be able to take a 401k loan, where you […]

30 Year Mortgage vs 15 Year Mortgage

April 29, 2011

“Would you like a fifteen year or a thirty year mortgage”? You are sitting in a tiny chair with an anxious mortgage broker staring back at you, visibly impatient and waiting for an answer. For you it’s a major decision, but to the broker your just another customer in a long day at work. So, […]

How to Use a Mortgage Calculator to Compare Home Loans

April 26, 2011

A mortgage calculator can be a great way to screen the home loans available to you online.  The nice thing about a good mortgage calculator is that it lets you quickly compare loans and gives you a snapshot of the costs you’ll have to pay. Mortgage rates are pretty low these days but not all […]

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