It depends on several things: the purpose of the loan, its terms, your finances and money habits, the amount of the loan, and many more. We will discuss the ones mentioned one by one, but let us first get a grasp of what a home equity loan. What is Home Equity Loan? A home equity loan or HEL and also known as second mortgage, is a kind of loan that homeowners can obtain by using the equity in home as collateral. Since … [Read more...]
Archives for September 2011
Debt from Student Loans
A lot of students have tons of student loans and they're unable to pay them off within the horrible economy and looking for solutions to their problems. What can be done to fix it? Create more jobs to stimulate the economy and help these students pay off their loans. … [Read more...]
Types of Mortgage Loans
A Wide Array of Mortgage Loans Way back when the real estate industry was quite simple, there were only three types of mortgage loans: the conventional fixed-rate mortgage, a VA loan, and an FHA loan. As the years pass, more and more types have been devised to cater to the various needs and preferences of borrowers. Below are some of the various forms. Common Types of Mortgage Loans Fixed-Rate Mortgage Loans. This is … [Read more...]
Managing Multiple Credit Cards To Raise Credit Score
Some consumers maintain several credit cards to improve their credit score. Be careful if you plan to do this. These thin plastic cards may look like they cannot nick your fingers, but they are actually double-edged swords. Sure, it can give your FICO a boost but if your use of them is ill-judged, it can send your credit score hitting the skids. This article discusses some of these blunders to avoid and some metrics on … [Read more...]
Debt Advice: Main Reason For World Debt
How To Keep Your Medical Debt From Inflaming
Medical Debt Leads Many Consumers to Bankruptcy According to an analysis of data at a big credit counseling firm, medical debt has become one of the usual suspects in the filing of personal bankruptcies. The nonprofit credit counseling outfit, which caters to consumers nationwide, reported that approximately one out of five consumers who are seeking financial counseling in 2010 and 2011 point to medical bills as the main … [Read more...]
What You Should Know About Payday Loans
Are Payday Loans The Stopgap To Your Financial Woes? Hard times call for desperate measures. As it happens, most people are shoved into the financial jam by the nasty economy, hence, many people would do almost anything just to rise from the economic rubble. And one of these “anything” is payday loans. Also known as paycheck advance, a payday loan is a small, short-term loan that is meant to fund the expenses of a … [Read more...]