Refinancing vs Line of Credit
Refinancing vs line of credit are two popular options you have when deciding the best way to take equity out of your home. Sometimes it makes sense to establish a line of credit. But in other situations it’s better to get a cash back refinance mortgage loan. You can find out which loan is best for your situation by doing some simple math [more...]
Date: 2009-01-09 03:29:21
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Which is the Right Way to Cash Out of Reverse Mortgage
by Mulroony Vanrock I had an senior reverse mortgage prospect contact me last Tuesday ... is a very popular choice. Another important point to note about the line of credit is money sitting in the line of credit is accruing interest for the borrower’s favor thus increasing borrowing power over [more...]
Date: 2009-01-16 02:51:06
Peak Credit & What That May Mean
A: Peak credit, sounds like I hit my limit on my credit cards! I guess its kind of true. For owners of home equity lines of credit, you may have noticed a decrease in your available credit line recently. Why is that? Because credit has peaked, and is now contracting! As banks work [more...]
Date: 2008-08-04 16:55:33
Twitter Updates for 2009-01-15
http://tinyurl.com/MitchAddress2009 Common sense Hoosier government. Mitch just has to keep on pushing and improvement can happen. # Argh ... to stevenlharrison # 2 credit cards and 2 revolving store credit lines closed. Down to primary & backup credit cards. Now to start working out or something. # Just need to be content for a little while. That’ [more...]
Date: 2009-01-16 03:59:59
Consolidating Your Debt May Help You In A Tough Economy
by John Brennan The present difficult economy affects each of us differently ... . If you simultaneously have an auto loan, credit card loan, home mortgage and other lines of credit at retail ... of credit have been extended, debt consolidation can help the individual get their life and finances back [more...]
Date: 2009-01-13 08:15:18
Credit Reports can be a Teaching Tool
by Rob Kosberg If you have recently been denied credit or plan to apply for credit soon, it would be wise to obtain your credit report ... credit. You need to know that there are actually three major credit reporting agencies ... . Lines of credit will be included such as balances, monthly payments, and credit limits [more...]
Date: 2009-01-15 21:32:08
GDP’s Debt to Credit
The FDIC is considering tapping its emergency line of credit with the Treasury. FDIC Chair Sheila Bair recently hinted after a speech at Georgetown University that all options are on the table when it comes time to replenish the dwindling Deposit Insurance Fund. We’ll find out more in the next few weeks after the FDIC board of directors meets. Stock market bulls aren’t concerned about the inevitable acceleration in bank failures — at least for now. [more...]
Date: 2009-09-23 18:10:17
GDP’s Debt to Credit
The FDIC is considering tapping its emergency line of credit with the Treasury. FDIC Chair Sheila Bair recently hinted after a speech at Georgetown University that all options are on the table when it comes time to replenish the dwindling Deposit Insurance Fund. We’ll find out more in the next few weeks after the FDIC board of directors meets. Stock market bulls aren’t concerned about the inevitable acceleration in bank failures — at least for now. [more...]
Date: 2009-09-23 22:12:34
Out-of Work Stress
I’ve been getting a lot of letters from people asking how to cope with job loss. HB wrote: My husband was just downsized out of his job ... severance pay. We do not have any savings to speak of but have money available on a line of credit and do not owe on credit cards. We own our own home. I want to plan around the scenario that he may [more...]
Date: 2008-12-26 18:07:44
Out-of Work Stress
I’ve been getting a lot of letters from people asking how to cope with job loss. HB wrote: My husband was just downsized out of his job ... severance pay. We do not have any savings to speak of but have money available on a line of credit and do not owe on credit cards. We own our own home. I want to plan around the scenario that he may [more...]
Date: 2008-12-26 18:07:44
Credit Repair After Bankruptcy
by Matt Douglas If you have a bankruptcy on your credit report you probably feel like there is no way to escape a low score ... a new revolving line of credit such as a credit card. This will help you build some positive credit ... of available credit to debt. It may not be the most ethical [more...]
Date: 2009-01-07 23:54:48
Bonus Day!
Got my year end bonus today deposited to my bank account. SWEET! First order of business was to completely wipe out my credit card and line of credit debt. I’m on track this month to have my best absolute monthly net worth increase since I started recording [more...]
Date: 2009-01-15 18:49:31
Review of Lexington Law Firm
by John Cooper Lexington Law is headquartered out of Salt Lake City, Utah. They are a credit repair firm ... . What else should I do to repair my credit? We suggest you open a new revolving line of credit ... . There are over 400 employees and 22 credit attorneys. Their business started in 1991 [more...]
Date: 2009-01-15 00:15:45
Equity Line of Credit:Is this the Answer to Your Financial Needs?
by Doc Schmyz We all know by now that home owners have a hidden savings account…its called HOME EQUITY ... Line of Credit? With a typical loan, which deposits a set amount of money in your account and begins ... asking for a new loan when you have paid it back. What can the HELOC be used on?? We can all find [more...]
Date: 2009-01-05 19:12:07
Obama’s Credit Card Legislation May Need Fine Tuning!
Amazon.de Widgets President Obama’s credit card legislation, although welcomed during these times of harsh economic woe, unfortunately will probably fall just short of what every American has been screaming out for, a strong leash on the credit card industry.Legislation to regulate the credit card companies from imposing financially sapping interest hikes and reducing credit lines without warning, will shortly be announced, and not a moment too soon as a battle weary American public continually [more...]
Date: 2009-09-18 22:53:26
Games Lenders Play, Part VII - Selling Mortgage Accelerator Programs
I thought I'd share this with you as an example of the sort of mind set to beware ... to go ahead, a HELOC (DM: Home Equity Line of Credit) is required to implement the program, so they will need YOU to arrange an "Advanced" (Home Equity) Line of Credit for them (earning you a fully [more...]
Date: 2008-08-05 13:51:55
Solve Your Money Issues
There’s a saying that goes “you’ll get out of it what you put into it” ... I’ve learned from the quiz. Debt consolidation is when you consolidate multiple credit lines into one low interest loan or credit card - it typically involves a debt consolidation loan, but could [more...]
Date: 2008-07-21 20:34:00
New US Credit Card Legislation Has Allowed Credit Card Companies Too Much Time!
Amazon.de Widgets President Obama’s credit card legislation, although welcomed during these times of harsh economic woe, unfortunately will probably fall just short of what every American has been screaming out for, a strong leash on the credit card industry. Legislation to regulate the credit card companies from imposing financially sapping interest hikes and reducing credit lines without warning, will shortly be announced, and not a moment too soon as a battle weary American public continually [more...]
Date: 2009-09-29 12:31:20
Do You Have Interest In "NO INTEREST"?
CarCareONE It's the solution to the question "Where do I get the money to fix my car? ... *No annual fee *Optional debt cancellation Keep your vehicle in tip-top shape with the CarCareONE card ... " CarCareONE is a credit card with a line of credit that is used just for your car. Now you don't [more...]
Date: 2008-12-11 18:02:14
Home equity line for real estate investing?
by Doc Schmyz We all know by now that home owners have a hidden savings account…its called HOME EQUITY ... then most credit cards. This fact alone makes it ideal ... Line of Credit? With a normal loan, which deposits a set amount of money in your account and begins [more...]
Date: 2009-01-14 10:27:43
Layaway is Making a Comeback
I read an interesting article in the Detroit News about layaway ... to the customer. Now banks are lowering credit card limits and home equity lines, and even consumers ... . Before there were credit cards, stores offered layaway as an option to consumers who may [more...]
Date: 2008-12-14 06:13:42
Solutions offered to PM to rescue the economy
/India PRwire/ - Mr. Rajeev Chandrasekhar, MP and FICCI President today told the Prime Minister at a meeting in New Delhi on the Global Economic ... , deeper cuts in rate and CRR, open credit and freezing of credit lines could help repair the situation [more...]
Date: 2008-11-03 12:57:57
Ask SCORE How to Survive Tough Economic Times
Washington, DC (PRESS RELEASE - November 4, 2008) - Entrepreneurs face challenges on many fronts during the next 12 months, including lower consumer spending, rising unemployment, tightening credit, and inflation pressures ... banks also may be a source of a line of credit. A solid business plan can help you make your case [more...]
Date: 2008-11-10 23:00:08
Prosecutors Present Evidence of Fraud in Cioffi Case
Ahead of a scheduled trial next month, prosecutors have identified “direct evidence” that they say shows a former Bear Stearns hedge fund manager, Ralph Cioffi, used his investment in a fund he controlled to obtain a $4.2 million line of credit for a Florida real estate project. In a series of filings in Federal District Court in Brooklyn last week, prosecutors said Mr. Cioffi fraudulently pledged assets in the hedge fund he ran as collateral for a real estate loan from Busey Bank. [more...]
Date: 2009-09-28 20:39:53
Eliminating Debt in 5 Easy Steps
by John Major It is unfortunate that in today’s economy, debt rules all. From the deepest spots of our wallets, we have charged ourselves to the point of no return. The commercials and ads promising a better car, newer home and more of this and that are all based on lines of credit and bank loans. Our children have been raised in this economy where paying for something means a monthly payment and a low or high interest rate; this is why debt elimination is needed. [more...]
Date: 2009-09-24 11:39:25
Debt Consolidation Benefits
If you’ve ever been in a situation where you needed money that you didn’t have, you probably already know about loans and credit cards ... the borrower will be responsible for paying back a certain amount of the total debt each month. Credit Card A credit card is a “card” whose holder has been given a revolving credit line by a financial [more...]
Date: 2009-01-14 10:09:15
ONE Tip for 2009 - Identity Theft Still Rampant so Sign up for Lifelock.com
I got this email from some very close friends yesterday who were asking to spread the word about their identity thefts: ... in custody. We have had credit card fraud, checks cashed, new accounts opened on line and in stores ... more issues on my credit report before it is over. I am going to have to testify against the woman [more...]
Date: 2009-01-01 19:51:24
Say Goodbye To Plastic
Nouriel Roubini has been the most prominent Cassandra for the financial crisis, ... that I introduce her newest prediction: the severe curtailing of credit card lines. It would definitely make sense as banks haven’t been keeping credit card debt on their books, but instead turning them [more...]
Date: 2008-12-01 22:01:01
New Year?s Resolutions for the Credit Crisis
“Finish each day and be done with it,” said Ralph Waldo Emerson. “You have done what you could. Some blunders and absurdities have crept in ... institutions on mergers and acquisitions. The credit crisis exposed a major fault in short-term– ... when they couldn’t get any more credit lines. In November, banks afraid of a repeat performance of those [more...]
Date: 2008-12-31 10:02:00
Debt Managment and Debt Consolidation Loans For Bad Credit
Amazon.de Widgets What is debt consolidation but a way to financial freedom with positive actions to bring about resolutions of high interest rates, late fees, over the credit line fees, etc. and see ones balances decrease instead of increase with positive impact on the credit rating. The question is frequently asked by consumers who find that answers to accumulating debt are on the wire and something has to be done. [more...]
Date: 2009-09-22 05:45:34
Borrowing To Invest Vs. Saving To Invest
This is a follow up to my post about bums not being richer than you ... into investments so he will have a nice nest egg when he retires. He likes to avoid debt at all cost because ... to invest everything right now. Every month, our investor needs to make a payment to the line of credit [more...]
Date: 2008-12-22 00:22:31
How the Recession Affecting the Loans Market
If you are looking for a loan or line of credit be ready to be depressed. The fact is that even if you have a perfect credit history, you’re likely to be offered a smaller loan than you applied for at an interest rate far higher than you’d ever expected. And there are likely to be onerous conditions attached. Take homebuyers for example. Over the last 18 months, the number of mortgage packages on the market has fallen from 30,000 to just over 2,500. [more...]
Date: 2009-09-11 01:49:24
Debt Consolidation
Are you concerned about your personal finances, and especially your debt, in this current economy? ... Consolidation: taking multiple debt or credit lines and consolidating them into one new payoff plan ... with one payment, typically shifting credit card debts to secured debt by refinancing a mortgage. It could also [more...]
Date: 2008-11-20 21:04:14
James Passin: Rising Commodity Prices to Trigger Renaissance for Nuclear and Gold
Source: The Gold Report Commenting on what he views as an inevitable hike in commodity prices—and an equally inevitable shift into ... credit crisis has triggered a host of feedback effects, which have resulted in driving down energy ... economic conditions. There’s no credit lines needed to finance purchases, so we’re seeing catastrophic [more...]
Date: 2009-01-14 14:30:29
Walking Away Relieved When Deals Were Rejected
The Philadelphia Inquirer reports from Pennsylvania. “This is supposed to be a buyer’s market ... , but don’t close a deal. Sellers sit and wait, confident that someone will pay their price - eventually.” ... We refinanced and took out a home-equity line of credit several years ago to help make ends meet [more...]
Date: 2008-11-21 15:50:35
Roy Greenslade: Will Gannett sell off its British division?
Newsquest: is a sell-off feasible? It is clear that regional newspaper consolidation will take yet another turn in the near future ... , but I have a hunch it will hang on for a while. Trinity Mirror has problems, but there is a business strategy ... ) unsecured revolving credit line so it could repay some $2bn (£1.08bn) in commercial paper debt come [more...]
Date: 2008-10-07 15:44:21
Working Capital Line of Credit
by Mary Bush Working capital refers to the ample amount of money essential in supporting the development of finished and sellable products out of ... , there are still a few conditions that the lending company requires you to meet before an agreement ... as profits is probably the most critical thing to consider by the lending company. A general [more...]
Date: 2008-12-26 19:08:39
When You and Your Partner Don’t Agree About Money
This post originally appeared on March 11, 2008. I had just had a big fight with my husband about our finances, and I was a little irked ... incorporate it into our budget than pay off the open line of credit. I can’t help it. I’m trying ... . I’m angry because I feel like he isn’t being logical when he would prefer to keep our debt at 20 [more...]
Date: 2008-12-27 11:00:39
Revolving Account
A revolving account is an account where you are given a certain credit limit and you make monthly payments based on how much you borrowed that month ... to a credit repair analyst today! Source ... . You can access all or some of your credit line whenever you choose. The difference between [more...]
Date: 2009-01-04 02:45:32
Credit Lines: Number and Length of Time Open
from an email: On a related note, I hope you might have some advice for us. My husband and I just sold our condo ... .) So we are spending a small part of the profit off the sale on retiring the only credit card debt we still ... house. However, with no credit card debt and no mortgage (and one car loan that will be paid off [more...]
Date: 2008-07-06 16:05:45
Car Sales Continue to Crash
Although many economists simply lump car sales as a consumer purchase, ... . Last month was no exception. Auto sales were off across the board. Ford Motor Co. today reported a 32.4 ... have more money to lend for automobile purchases. But note, while banks do provide lines of personal credit based [more...]
Date: 2009-01-05 23:40:47
Bye Bye Nortel
Once North America’s 2nd largest telecom equipment maker, Ontario-based Nortel Networks Corp. (NT) filed for bankruptcy this morning ... the proximate cause was a (US) $107m interest payment due tomorrow. Another factor was today’ ... a waiver necessary to use the line of credit after Moody’s downgraded Nortel debt to junk bond status [more...]
Date: 2009-01-14 18:01:54
Bad Credit Car Loan Tips
Bad Credit Car Loan Tips Posted By Lauren Thompson on @ 9:09 pm by Ada Denis Most people go through rough financial times ... credit car loans. Start off by knowing what your credit rating is. You are entitled to one free report ... has too many open lines of credit and may fall into a debt trap and be unable to repay his debts. Having [more...]
Date: 2008-11-30 21:09:21
Government Bail out fails - That’s a good thing
Yesterday was most likely one of those days that will go down in economic history ... the panic? Fear that Congress might not be able to come up with a fix to the nearly frozen credit ... to continue day-to-day operations. Businesses of all types depend on these loans and lines of credit [more...]
Date: 2008-09-30 10:49:17
Fifteen days of blogging for health care reform: Burden of debt
Guest post by Skylanda. Not long ago, I was cruising along the highway at about 75 miles an hour ( ... a mortgage out of the messiest era in history to lock down a line of credit, and I was buying me a house ... . I am now thirty-three years old and the proud owner of two-thirds of a million dollars of accumulated debt. Far [more...]
Date: 2008-08-24 14:00:00
Banks Supposedly Will Cut Consumer Credit Card Lines by $931 Billion if Reforms Mandated
There is a rather amusing story at the Financial Times tonight, "Credit card reforms ‘to cost banks billions’". Let's look at the particulars ... from customers. But how much more are the credit card issuers making due to the tremendous drop in funding ... . The story is based on a study by law firm Morrison & Forester which concluded that banks [more...]
Date: 2008-12-15 01:59:42
?Countrywide VA Foreclosure
If you’re looking for a home at a bargain price, you may want to consider a Countrywide VA Foreclosure ... from the bank or lending institution, but the VA guarantees the loan. In spite of this, many ... loans, lines of credit and more. They are also the lender that handles more VA mortgage loans than any [more...]
Date: 2009-01-14 06:17:02
Is Obama’s Stimulus Plan Unfair to Some Small Firms?
President-elect Barack Obama’s economic-stimulus proposal is drawing cheers from many business owners and business groups, happy to see potentially lucrative tax breaks targeted at businesses bruised by the bad economy ... stores in late 2007. But her bank still froze her credit line in December – saying it wanted [more...]
Date: 2009-01-06 13:46:19
Is Obama’s Stimulus Plan Unfair to Some Small Firms?
President-elect Barack Obama’s economic-stimulus proposal is drawing cheers from many business owners and business groups, happy to see potentially lucrative tax breaks targeted at businesses bruised by the bad economy ... stores in late 2007. But her bank still froze her credit line in December – saying it wanted [more...]
Date: 2009-01-06 16:41:00
Free Suze Orman Book, Business Tax Software, and More!
I’m always looking at monthly services that we have and finding ways to pay a little less ... . The goal is to facilitate $100 million in loans to American families and businesses. You can vote ... Your Home Equity Lines of Credit (HELOC) From Being Frozen: Max It Out? Buy A Foreclosure For Under [more...]
Date: 2009-01-14 14:29:46
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