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Loan Made to Help or Exploit Laid-Off College Grads

Wed, 19 Aug 2009 16:24:21 GMT

Loan Made to Help or Exploit Laid-Off College Grads

posted: 80 DAYS 12 HOURS AGO

The combination of soaring student debt loads and a tough job market has a lot of companies and colleges looking to help students who are struggling financially.

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Using a Lending Club to Consolidate Debt

Mon, 10 Aug 2009 16:45:40 GMT

Using a Lending Club to Consolidate Debt

posted: 89 DAYS 12 HOURS AGO

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Peer-to-Peer lending is everywhere these days. Still, borrowing money from your peers is a new experience for most of us, and for many people new things are daunting -- which makes this borrower's look at peer-to peer-lending by Matt Jabs at Debt Free Adventure all incredibly useful.

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The Inside Story on Loans from LendingTree

Tue, 21 Jul 2009 16:47:33 GMT

The Inside Story on Loans from LendingTree

posted: 109 DAYS 12 HOURS AGO

filed under: Loans, Personal Loans

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WalletPop's Lan Nguyen chats with Nicole Hall, editor in chief of LendingTree.com, on what you need to know before you approach a lender on any loan, from a mortgage to a car loan.

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Payday Lenders Keep You in Debt!

Tue, 21 Jul 2009 15:53:40 GMT

Payday Lenders Keep You in Debt!

posted: 109 DAYS 13 HOURS AGO

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Payday lenders target low-income families as they know they have few other options to borrow money. In 30 of the states, lenders have convinced lawmakers to allow them to charge triple-digit interest rates because of the heavy demand.

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P2P Lender Prosper is Back

Wed, 15 Jul 2009 15:16:02 GMT

P2P Lender Prosper is Back

posted: 115 DAYS 13 HOURS AGO

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After a nine-month hiatus, peer-to-peer lender Prosper.com is back with a new and improved lending service. Thanks to its recent SEC registration the improved Prosper.com is now available to borrowers in 46 states and lenders in 14, with plans to expand nationwide in the near future.

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Small Businesses Borrow From Clients

Tue, 30 Jun 2009 23:41:47 GMT

Small Businesses Borrow From Clients

posted: 130 DAYS 5 HOURS AGO

filed under: Loans

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It's a tough time for many businesses to get loans, especially small businesses that don't have the same assets that larger businesses can use as collateral. More business owners looking for alternate funding. The latest target - customers. Find out more

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The Inside Story on Home Loan Modifications

Thu, 02 Jul 2009 14:51:07 GMT

The Inside Story on Home Loan Modifications

posted: 128 DAYS 14 HOURS AGO

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WalletPop's Lan Nguyen chats with Andy Firoved, CEO of Homeowner Toolbox, about what you need to know about landing that home loan modification. Listen in here.

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Government to Pay off Student Loans?

Thu, 02 Jul 2009 14:44:28 GMT

Government to Pay off Student Loans?

posted: 128 DAYS 14 HOURS AGO

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With student lending volume growing at an unprecedented clip, many families are taking some comfort in the numerous repayment assistance programs that can come as a perk with some jobs -- most of which require government work.

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Want a Cheaper Loan? Join a Credit Union

Tue, 21 Apr 2009 16:33:39 GMT

Want a Cheaper Loan? Join a Credit Union

posted: 200 DAYS 12 HOURS AGO

filed under: Auto Loan, Banking, Credit, Cut Costs, Get Deals, Home Equity Loan, Loans, Mortgages, Personal Loans, Recession, Refinancing

Looking to score a mortgage or a car loan? That used to be easy, but the credit crunch has made banks a little tight-fisted. If your bank shakes its head when you ask for financing, maybe it's time for you to join a credit union.

During the subprime boom, these cooperative financial institutions invested far more conservatively than most banks, and today they're reaping the rewards of avoiding a bust. That's good news for consumers who belong to credit unions, where the average interest rate for used cars is far lower than it is at banks. Carmakers are even offering discounts on new-car loans through some participating credit unions. And many credit-union members enjoy lower rates on 30-year mortgages and home-equity loans.

So can you take advantage of credit-union benefits? Read on to find out.

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Credit Unions and Cheap Loans

At a credit union located within a Phildelphia Baptist church, one member -- the pastor -- opens an account. Credit unions in recent years tended to choose conservative investments over the high-risk strategies favored by banks, and today, many offer loans more freely and at lower interest rates.

Douglas M. Bovitt, AP

Inventory at a Chrysler-Jeep dealership outside Chicago in 2008. Troubled automakers Chrysler and General Motors have offered discounts of up to $1,500 to customers financing new-car purchases through credit unions.

Scott Olson, Getty Images

A Chicago used-car lot. Interest rates for used-car loans financed through credit unions recently averaged 6.65%, compared with 7.45% for loans financed through banks.

Scott Olson, Getty Images

An upscale townhouse-condominium under construction in March 2009 in Fairfax, Virginia, was a rare glimmer of life in a regional downturn on new-home construction. Interest rates on 30-year mortgages secured through credit unions in early 2009 averaged 5% -- half a percentage point lower than rates at banks.

Paul J. Richards, AFP / Getty Images

A FannieMae ad at the Mortgage Banker's Association Conference and Expo in San Francisco in October 2008. In early 2009, credit unions were financing home equity credit lines at an average interest rate of just 4%, compared with 5.7% at banks.

Justin Sullivan, Getty Images

MagnetBank in Utah was seized by the Federal Deposit Insurance Corp. in late January 2009. As banks continue to suffer years of risky investments, credit unions are emerging for consumers as safer, more stable institutions.

Douglas C. Pizac, AP

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Dirt-Cheap Loans on New Homes

Fri, 22 May 2009 21:29:27 GMT

Loans Mortgages Home Equity Loan Fri, 22 May 2009 21:29:27 GMT 496033 2009-05-22T21:29:27Z

Dirt-Cheap Loans on New Homes

posted: 169 DAYS 7 HOURS AGO

filed under: Loans, Mortgages, Home Equity Loan

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Would you buy a brand-new home if you could lock in an interest rate of, say, 3.63 percent on a 30-year mortgage? Homebuilders who've offered to "buy down" buyers' interest rates hope your answer will be yes.

Interest-rate buy-downs aren't new. In fact, builders, private home sellers and buyers have long been able to pay an extra fee to buy down the interest rate on a home loan. The extra fee, payable upfront, is priced in "points," and each point is equal to 1 percent of the loan amount. For each point (or partial point) that's paid, the interest rate on the loan is reduced by a set amount that's determined by the lender. Homebuilders that offer the incentive pay the extra points on the borrower's behalf as an inducement for him or her to buy a home.

A buy-down may help some new-home buyers qualify for a loan because the lower monthly payment improves the borrower's debt-to-income ratio, says Dan Klinger. Click here to read the full article and see how buy-downs may help you too.

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