Loan Resources and Information.

Nobody offers a better deal on student loans than Nelnet! Just read my advice: go to www.nelnet.net and sell your loans (or “consolidate”) with them. They have the best rates and they give you discounts for paying on time and having your payments automatically withdrawn from your checking account. They will also AUTOMATICALLY defer your student loans if you become enrolled in school again (like when I went back to school for my master’s degree). So, now I don’t have to pay my student loans for another two years. Meanwhile, I keep putting that same monthly payment amount in my savings account at 5%. My rate with Nelnet is fixed at 1.65%. I am the one making money!

Nelnet’s website also offers great information on scholarships, how to pay off [ Continue Reading ]

In my opinion I believe that the business of giving and collecting student loans is one of the biggest scams in American business. Institutions lend you massive amounts of money so that you can pay the university or college that you decide to attend a ridiculous tuition fee. Whether you finish your schooling or not you have to pay back that money; Even if you find yourself in a low income job after the fact. The lender usually makes you an offer that you can’t afford, and they are able to bully you because the law is on their side. “Can’t afford to pay huh?” They say. “Well, we will just take it and there is nothing that you can do about it. We will also do it at this ridiculous interest rate to make sure that you are paying us WAY too much and for [ Continue Reading ]

If you have less than perfect credit and have some problems with your bills, or perhaps if you want to do some home remodeling, you might want to consider getting a 2nd mortgage refinance loan to help you out when you need it. These types of refinancing loans are usually not a problem to obtain, but there can be mortgage issues that need to be addressed. The bank will still look at your financial credit history, and will look at how prompt you are when paying your first mortgage. Though there are some times when they will say yes right away, there are other times when you feel like you are going through your first mortgage application all over again.

You might have two different options when you get 2nd mortgage refinance loans. You are either going to pay more each month for [ Continue Reading ]

Before going ahead with a home equity loan it’s essential to beware of fraud and scams in the market.

Types of scams

There are several prominent kinds of scams doing the rounds, many of which may entrap unsuspecting borrowers. Here we list out some of them:

• Equity stripping: This typically involves a practice whereby even if the borrower doesn’t have sufficient income to support monthly payments on the home equity loan the borrower is still lured into securing a loan. The reason? The lender is never interested in the ability of the borrower in making monthly payments. The final objective is to secure the home. Therefore once the borrower is unable to pay the monthly payment on the home equity loan the lender will foreclose thus taking [ Continue Reading ]

A scam is a scheme designed to gain the trust of the victim then rob the victim of the funds entrusted to the scammer. An advance fee personal loan is not in itself a scam, but is very susceptible to become a scam quickly.

The lender has a responsibility to deal ethically with the borrower in a situation where money is exchanged. Unfortunately, may scam-artists use this opportunity of trust to take advantage of uneducated or overly-trusting customers.

One can really turn anything into a scam with appropriate planning. This is just a more direct and easily manipulated scam.

The way an advance fee personal loan works is there is a demand for personal loans in the first place. People with cash crunches require a little extra help in a time of need. One can [ Continue Reading ]