Take Control of Your Finances Part 6: Get Out of Debt
Debt is like indentured servitude. You work and earn income, but you hand over that income to someone else ... as well. Good debt versus bad debt One comment you may hear is that mortgages and student loans are “good debt” while credit cards and car loans are “bad debt.” The philosophy here is that houses [more...]
Date: 2008-11-21 17:52:35
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Bloomberg: Blame the Ratings Agencies (Part II)
Last night, we looked at the first part of the special investigation from Bloomberg -- and noted its a must read! ... trillion of loans to homebuyers with bad credit and undocumented incomes from 2002 to 2007. Investment ... Here is part II: In August 2004, Moody's Corp. unveiled a new credit-rating model that Wall [more...]
Date: 2008-09-25 23:30:00
FHA Mortgage Lenders
Applying for a home loan for first time mortgage borrowers can be a daunting and treacherous task ... from a lender to a FHA. If we have bad credit, no credit, or simply not sufficient income to put ... . An alphabet soup family of difference is used: FHA, HUD, VA, and some-more can report a loan [more...]
Date: 2009-01-14 13:31:28
Subprime Queen Leads Obama Inauguration Team
Barack Obama has repeatedly chastised failing banks for using subprime loans to victimize borrowers yet his newly crowned inauguration co-chair ... to compensate for the increased risk of borrowers with bad credit or those who lack the income to qualify for a regular loan. Like Obama, the Department of Housing and Urban Development says minorities [more...]
Date: 2008-12-02 16:24:49
Buying a home with creative financing
With home prices falling and problems in mortgage markets continuing, buyers and sellers both stand to benefit from creative financing ... broker, even with bad credit. Before the growth of the subprime loan market, there were swindlers ... ,” for home buyers who didn’t meet traditional qualifications because of credit, income or job [more...]
Date: 2008-12-21 14:31:04
The Sand States
Here are excerpts from "The End" in Portfolio by Michael Lewis, author of Liar's Poker, on the financial collapse ... in asking homeowners with bad credit and no proof of income to put no money down and defer interest ... states. The loans would have been made by one of the more dubious mortgage lenders; Long Beach Financial [more...]
Date: 2008-11-12 00:44:27
Is Now the Time to Take Advantage of the Housing Crisis?
The following is a guest post from Rich Credit Debt Loan ... to offer you a loan that you can leverage to make that extra income. Unless you have perfect credit ... with images of foreclosed properties, falling home values and pretty much bad news all around [more...]
Date: 2008-06-26 12:55:13
Don’t learn all the wrong lessons about creative mortgages
This is my column for last week from the Arizona Republic (permanent link) ... if their loans were properly secured by good credit, steady income and valuable assets ... market is in a state of incipient recovery. Will there be more bad news? Certainly. There are still [more...]
Date: 2008-07-15 17:51:06
Don’t learn all the wrong lessons about creative mortgages
This is my column for last week from the Arizona Republic (permanent link) ... if their loans were properly secured by good credit, steady income and valuable assets ... market is in a state of incipient recovery. Will there be more bad news? Certainly. There are still [more...]
Date: 2008-07-15 17:48:22
Devise your own Credit Repair Plan
by Rob Kosberg You found yourself in a very bad financial situation. You may feel emotional, hopeless, guilty or all of them ... . You will be particularly concerned with credit cards and perhaps small loans. List the cards with highest ... income. This is the amount of your salary that goes for necessities such as mortgage, car loans [more...]
Date: 2009-01-14 23:53:58
FHA Loans -- Non-Occupant Co-Borrowers -- Now on refinances also....
http://www.fhaloansfhamortgages.com FHA loans ... purpose is to help you qualify you with your income. Many think that if you have bad credit ... is not allowed. You still need to qualify on your own credit worthiness. FHA Credit -- Understanding [more...]
Date: 2008-10-17 14:08:25
The best bad financial decisions...
If you only had enough money to pay your mortgage or your car loan, which would you pay? ... with credit cards? * Take out a payday loan or use a pawn shop? * Pay property taxes or income taxes ... Unfortunately, many Americans are faced with making what amounts to this type of "best bad [more...]
Date: 2008-11-11 03:07:00
Is Debt Necessary For Generating Income?
“Margie” writes in: My husband and I are pretty frugal, but we currently carry about $25,000 in credit card debt and a personal loan ... about $1,200 on each one of the the personal loan and two credit cards. This way we’ll be able to pay off ... ? First of all, it’s worthwhile to get a bead on how bad this debt actually is. Margie reports [more...]
Date: 2008-11-26 20:00:49
Payday loan, emergency cash money
Applying for a loan and getting it in your hands has a lot of gap in between ... salary should be above £1,000 per month - You should have a current checking bank account ... , depending on your income. The repayment term is usually a week to a month. If you have a bad credit [more...]
Date: 2009-01-03 00:33:35
Bonnie CLAC
Typical car loans come at high rates of interest for people whose credit is not top-notch. So low-income people end up driving unreliable cars that get bad mileage. Bonnie CLAC is working to change that equation. [more...]
Date: 2008-12-27 13:02:48
7 Don’ts for Fiscal Freshmen
( This is a guest article by Jack Busch* ) As a student, your financial picture is a bit unique. You have few assets and few hours to devote to a job, thus little income. You have little credit history (good or bad) but some limited access to revolving credit and other loans. Because of this, the years between matriculation and graduation are somewhat of a testing ground for your creditworthiness. Lenders give students just enough rope to hang themselves – and during those crucial four or so [more...]
Date: 2009-09-23 08:59:15
How To Afford Repairs With Bad Credit?
Those who need finance for repairing house appliances or fixing any electronic device, can find it very difficult to get a loan if they have bad credit ... an income requirement that needs to be met. Anyone who wants to apply for a bad credit loan (or any kind [more...]
Date: 2008-12-17 23:14:58
7 Don’ts for Fiscal Freshmen
( This is a guest article by Jack Busch* ) As a student, your financial picture is a bit unique. You have few assets and few hours to devote to a job, thus little income. You have little credit history (good or bad) but some limited access to revolving credit and other loans. Because of this, the years between matriculation and graduation are somewhat of a testing ground for your creditworthiness. [more...]
Date: 2009-09-23 08:59:15
How To Buy A House
There has been a lot written about the mechanics of how to buy a house ... again you might even need a down payment to get a loan. A bad credit rating no longer just means ... . But what if you can’t get preapproved? What if you have little income, bad credit or other serious problems [more...]
Date: 2009-01-13 02:01:00
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