Loan Facts
Small business loans

Small Business Loans to Start Your New Venture

Starting a new business takes time, energy, focus, and always money. Many people look for investors, many finance it themselves, and many use small business loans. Many low-interest and no-interest loans, however, are sitting unused. Using small business loans to create jobs The American Recovery and Reinvestment Act, among other things, made a point of
cap rates on cash advances

Cap Rates on Cash Advances are not Ideal

Cap rates on cash advances is a common practice in the financial industry. It may seem like it’s a good thing to do to protect consumers from unfair interest rates. In reality, interest rate caps can sometimes be an unfair standard on cash advance loans. Furthermore, rate caps constrain businesses in an industry in which
What to Do if student loan collections Debt Collector Calls

Student Loan Collections – What You Should Know

There are trillions of dollars of student loans currently in the U.S. market, and $67 billion is in default with student loan collections. Student loans are one of the few things that can’t be written off in bankruptcy, doesn’t go away after seven years, and must be paid off at some point. Though there are
short term loans facts

5 Things to know about Short Term Loans

Can short term loans help? Times are tough and money is short. Are you struggling with less money than you need to get by? Have you had an emergency and just need a little help? Would Short Term Loans help you get through? Do you have concerns about getting paydayloans? Do you have credit problems,
Richard Cordray

CFPB to oversee nonbank student loan servicers

The Consumer Financial Protection Bureau (CFPB) proposed a new rule on March 14 that will allow it greater oversight of non-bank firms that collect and keep records of student loans, both federal and private. CFPB ‘oversight to the student loan market’ The new rule would give the federal watchdog the authority to audit the activities
college fund

Debt rate falls for young adults, but not a good sign

A recent study found that, in the last decade, the debt rate has decreased dramatically for American young adults. While that sounds encouraging on the surface, in fact it reveals a troubling economic trend. The reason for the decline is that the bulk of young adults just have too few assets and too little income
grads

Student loan debt higher than ever, says report

According to a recent study by the Institute for College Access and Success, the average college student who graduated last year has $26,600 in student loan debt. That is the highest in the seven-year history of the report. Student loan debt up 5 percent In 2010, the average amount of loan owed by graduates was
home prices

Fewer new home sales in August, but prices rise

New home sales fell slightly in August when compared to July, says the Commerce Department. However, the price of new homes simultaneously rose faster than it ever has before in a single month. Ups and downs of new home sales in August The Commerce Department said Wednesday that the about 373,000 new homes (seasonally adjusted)
ticky tacky

Banks offer unsolicited mortgage relief

Under a federal settlement, several of the nation’s major lenders are offering unsolicited mortgage relief deals to some selected distressed borrowers. Unsolicited mortgage relief These offers come from the banks and can not be applied for or requested. Some selected borrowers are offered a reduction in the principal of the loan, or in the lending
mortgage

New CFPB rules target mortgage service providers

The Consumer Financial Protection Bureau has proposed new rules for mortgage service providers. The new CFPB rules attempt to provide more transparency for borrowers. CFPB rules seek transparency According to the CFPB, the new rules demand more transparency from companies that collect mortgage payments and handle foreclosure procedures. Richard Cordray, director of the CFPB, said:
Housing

Fannie Mae posts $5.1 billion profit in Q2

Fannie Mae announced a net income of $5.1 billion in the second quarter of 2012. It is the Federally-run mortgage buyer’s second consecutive quarterly gain since government intervention, following the Great Recession. The posting leaves little doubt that the U.S. housing industry is gaining ground. Fannie Mae quarterly gain $2.2 billion Wednesday, Fannie Mae announced
Mortgage rates

Mortgage rates are rising, says Freddie Mac

According to a weekly report from Freddie Mac, the rates on 30-year fixed mortgages went up, breaking a spell of record lows that has lasted for 13 weeks. Mortgage rates tick up slightly Freddie Mac, Uncle Sam’s mortgage buyer, reported Thursday that the average rate for a 30-year fixed mortgage rose from last week’s 3.49
student loan debt

Feds roll out easy-to-understand financial aid form

The Obama Administration, in the interest of clarity and transparency, rolled out its new easy-to-understand financial aid form on July 24. The federal government is urging colleges and university to adopt the new “shopping sheet” for the 2013-2014 school year. Financial aid ‘shopping sheet’ The new form will allow potential students and their parents to
A frozen water droplet dangles from a tree branch.

The next steps in tackling the student loan crisis

Congress passed omnibus legislation June 29 that freezes student loan rates, which were due to double. If the legislation hadn’t passed, 7.4 million U.S. student borrowers would have taken on an additional $1,000 in debt for each year of college, according to The Detroit News. With the freeze in place, it would behoove lawmakers to
student debt

For-profit schools fail to meet federal aid rule

The Department of Education has placed for-profit educational institutions on warning. Too many students from these institutions are finding it hard to pay off their student loans, says the federal agency. If the situation does not reverse, those schools could lose access to federal student aid. The gainful employment rule The U.S. Education Department said
Smiling man doing paperwork, using a computer.

Personal loans: Get the basics right to finance your needs

People are always buried deep into some sort of debt. They take more credit to repay their mounting credit card bills. There is no way that can rescue these people from the troubles of debt. Sometimes, the outstanding balances give them a poor credit score that make them ineligible for other lines of credit. This
Foreclosure

Foreclosures are a quarter of all U.S. home sales

Foreclosures drive down the price of homes and hinder the recovery of the market. Sadly, there seems to be no shortage of foreclosures on the horizon. A recent report by RealtyTrac, a web-based marketplace for foreclosure properties, concludes that more than a quarter of all home sales in the U.S. are foreclosures. Coupled with last