Loans Archive

Difference between Fannie Mae and Freddie Mac

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 …

Mortgage Financing 101

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 …

Ways to Save Money on your Mortgage

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

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 …

Advantages of a 40 Year Mortgage

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 …

Sallie Mae College Savings

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

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 …

Advantages of Reverse Mortgages Loans

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 …

Managing Student Loans

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 …

Basic of Home Mortgage Refinancing

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 …

The different Types of Home Mortgages

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 …

Reasons to Pay your Mortgage off Early

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 …

How to get a Loan after Bankruptcy

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 …

Top Mortgage Mistakes to Avoid

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 …

Compare Apr Apy

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 …

What are Subprime Mortgages

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 …

Smart Ways to use your Home Equity Money

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 …

An Overview of Sallie Mae Student Loans

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 …

Managing Student 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

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 …

Auto Financing with Bad Credit

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 Pros and Cons of 40 Year Mortgages

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 …

Risks to first Time Buyers in the UK

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 …