Category Archives: Personal Finance

In the aftermath of the recession,  the Emergency Economic Stabilization Act gave hundreds of billions to banks while denying economic relief  to Californians, who were  pummeled by rampant foreclosures and a 10%+ unemployment rate in 2011.  Even today, many debt-stricken families in the golden state struggle to pay their credit card debt and mortgages.  California debt consolidation hasn’t helped much.  But, the story of San Diego’s Armando Gomez brings hope. Two years ago, Gomez had the misfortune of becoming unemployed.  … Continue reading →

If I was asked what is the best thing about payday loans I would say that it is the level of convenience that they make possible in the lending industry. The simple fact is while the banking industry is based upon the financial institution, the payday industry is based around the client where most payday lenders today show genuine concern for their client’s needs, as well as a considerable level of efficiency. What this means is that to a payday … Continue reading →

When you are making comparison between home loans, you will seldom find that it will be a straight forward decision based on the lowest mortgage interest rates you are being offered. The mortgage market in territories like Singapore is so competitive that you will find banks and lenders offering Singapore home loan features that add value to what they are offering to home buyers and owners. Although mortgage loan features can sometimes distract the home buyer or owner from the … Continue reading →

Motor Trade Insurance quotes are based on various factors including the area of the motor trade industry your working in e.g. motor sales, repairs, servicing etc, where your business is located in the country, the level of cover you require and the type of premises you trade from. However the two most crucial factors in obtaining cheaper motor trade insurance are building up and maintaining a no claims bonus, and shopping around at your insurance renewal date to ensure you … Continue reading →

Even if mortgage rates and home prices are hitting rock-bottom levels, total home ownership rate is still down to 66.3% – just 0.4% shy of the previous quarter’s 65.9%. That 66.3% is the second lowest home ownership rate in 13 years, and the move up from 65.9% to 66.3% is the only gain in two years. So what’s up? Why is it that even abysmal home prices coupled with extremely depressed mortgage rates have failed to get more Americans into … Continue reading →

The far-left wants to bail out all troubled homeowners “whether they deserve it or not.” The far-right wants to let the real estate market run its course and bring America’s economy to a grinding halt. Both are political stands that are not acceptable to all Americans – prompting Republican presidential hopefuls to steer clear of the issue in a televised debate. Rick Santorum, Mitt Romney, Michele Bachmann and Hermann Cain are quick to point fingers and point out what won’t … Continue reading →

Since the credit crunch obtaining loans, mortgages, commercial mortgages, bridging loans, asset finance and other finance facilities have become more difficult due to more restrictions and tighter criteria. For secured finance facilities, loan to values have decreased since before the credit crunch and being able to self certify income for mortgage and finance applications has changed significantly. Similarly the extensive range of facilities for sub prime finance applications have almost all disappeared and those left are also more restrictive than … Continue reading →

A weak economy and even weaker retirement assets make working past 65 an attractive option – something that has been recently realized in Britain. Britain used set the default retirement age (DRA) to 65, but aging populations and pension shortfalls have compelled it to scrap the DRA. The DRA in Britain has now been removed; effectively preventing employers from sacking their older employees because of old age. These same workers can also negotiate with their employers to work part time … Continue reading →

Reverse mortgages (aka Home Equity Loans) are a great way for seniors to supplement their income, but problems do rise, when these seniors are not fully informed about the pros and cons of these loans. Brokers that use pressure tactics and provide misleading information can be blamed for most of these problems. Christine Dugas of USA Today shares some of the more common reasons why some seniors end up delinquent on their payments: Closing costs “We didn’t know that we … Continue reading →

If you have a bad credit rating then you may already know that getting a personal loan from financial institution such as a bank is going to be like “drawing water from a stone”. Luckily there are other options for people with bad credit score but are they worth it? You may have heard of payday loans, they have pretty much exploded online over the last few years and have really changed the industry. The thing that these online lenders … Continue reading →