How to Get Approved for Credit in a Financial Downturn

In a recession it’s common for many people to rely on credit cards and loans to balance their finances. It’s the ultimate catch-22 since, during a recession, these financial products can be even harder to qualify for. This holds true, according to historical data from the Federal Reserve Bank of St. Louis. It found that

The post How to Get Approved for Credit in a Financial Downturn appeared first on Good Financial Cents®.

How Much Does It Cost to Refinance?

For millions of American homeowners, their mortgage payment is one of their greatest financial commitments. With mortgage rates hitting record lows this year, it’s no wonder that people are interested in the possibility of refinancing their homes. Instead of only…

Full Story

The post How Much Does It Cost to Refinance? appeared first on MintLife Blog.

What Is a Parent PLUS Loan?

Paying for college is a challenge, and rising tuition costs certainly don’t help. According to College Board, the average cost of a four-year private college has increased by more than $3,000 over the last five years. Scholarships, grants and work-study … Continue reading →

The post What Is a Parent PLUS Loan? appeared first on SmartAsset Blog.

Understanding How Mortgage Interest Rates Work

Question: What do home mortgage loans (including second mortgage loans), retail installment loans, automobile loans, home improvement loans, and mobile home loans, have in common — aside from being loans to consumers?

Answer: The interest charge sometimes is calculated monthly and sometimes daily. With a monthly interest rate the borrower is charged for each month, whereas with a daily interest rate the borrower is charged for each day.

Why is this distinction important? Because daily rates are a potential trap for unwary borrowers, countless numbers of whom have found themselves permanently, usually with no understanding of how it happened. The problem has been entirely overlooked by regulators, including the Consumer Financial Protection Bureau.


LowRates Mortgage Review: How Low Are They?

With a name like LowRates, you would expect their mortgage rates to be, low, right? Well, that’s the hope at least. The good news is they post their mortgage rates on their website and update them daily. So you won’t have to guess or call them first to see where they stand. You may have [&hellip

The post LowRates Mortgage Review: How Low Are They? first appeared on The Truth About Mortgage.

2021 means new challenges for mortgage lending

While the mortgage industry has always been an ever-changing profession, we as loan originators have entered a very unprecedented market, with a new landscape paved by uncertainty and a level of anxiety that could easily cripple the most seasoned originator.

The post 2021 means new challenges for mortgage lending appeared first on HousingWire.

Best Home Loans for Bad Credit of 2021

You may think that because you have bad credit buying a house is out of reach for you. But, not only are there lenders out there willing to loan to people with poor credit, but…

The post Best Home Loans for Bad Credit of 2021 appeared first on Crediful.

LoanLock Mortgage Review: Their Goal Is to Deliver Stress-Free Loans

While shopping for a home loan, you may have come across “LoanLock,” a SoCal-based mortgage company that wants to make lending simple. In fact, their one goal is to deliver stress-free loans to every borrower, every time. They’re also big on transparency, with a promise to never charge “credit check, application, or lock-in fees.” Since [&hellip

The post LoanLock Mortgage Review: Their Goal Is to Deliver Stress-Free Loans first appeared on The Truth About Mortgage.