What is a Subprime Lending?
Subprime lending, also called B-Paper, near-prime, or second chance lending, is a general term that refers to the practice of making loans to borrowers who do not qualify for the best market interest rates because of their deficient credit history. Subprime lending is risky for both lenders and borrowers due to the combination of high interest rates, poor credit history, and murky financial situations often associated with subprime applicants.
Subprime lending encompasses a variety of credit instruments, including subprime mortgages, subprime car loans, and subprime credit cards, bad credit cards among others. The term "subprime" refers to the credit status of the borrower (being less than ideal), not the interest rate on the loan itself.
courtesy of wikipedia.org
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Who are the Subprime Borrowers ?
A subprime borrower is one who cannot qualify for prime financing terms but can qualify for subprime financing terms. The failure to qualify for prime financing is due primarily to low credit scores. A very low score will disqualify. A middling score might or might not, depending mainly on the down payment, the ratio of total expense (including debt payments) to income, and ability to document income and assets.
(Subprime Borrower Defined)
Who are the Subprime Lenders?
A subprime lender is one who lends to borrowers who do not qualify for loans from mainstream lenders. Some are independent, but increasingly they are affiliates of mainstream lenders operating under different names.
(taken from "Subprime Lenders Defined")
Subprime lenders
Wikipedia
To access this increasing market, lenders take on the risks associated with lending to people with poor credit ratings. Subprime loans are considered to carry greater risk for the lender due to the aforementioned credit risk characteristics of the typical subprime borrower. Lenders use a variety of methods to offset these risks. In the case of many subprime loans, this risk is offset with a higher interest rate. In the case of subprime credit cards a subprime customer may be charged higher late fees, higher over limit fees, yearly fees, or up front fees for the card. subprime credit cards customers, unlike prime credit card customers, are generally not given a "grace period" to pay late. These late fees are then charged to the account, which may drive the customer over their credit limit, resulting in over limit fees. Thus the fees compound, resulting in higher returns for the lenders.
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Types of Subprime Lending
Subprime Mortgages
As with subprime lending in general, subprime mortgages are often defined by the type of consumer to which they are made available.
Subprime mortgage loans are riskier loans in that they are made to borrowers unable to qualify under traditional, more stringent criteria due to a limited or blemished credit history.
There are many different kinds of subprime mortgages, including:
interest-only mortgages, which allow borrowers to pay only interest for a period of time (typically 5-10 years
"pick a payment" loans, for which borrowers choose their monthly payment (full payment, interest only, or a minimum payment which may be lower than the payment required to reduce the balance of the loan)
and initial fixed rate mortgages that quickly convert to variable rates.
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Subprime Credit Cards
Recently, starting in 2007, many new subprime credit cards have begun to emerge in the market. As more vendors have emerged the market has become more competitive and issuers have been forced to make the cards more attractive to consumers. Interest rates on subprime cards now start at 9.9% but in some cases still range up to 24% APR.
Subprime credit cards however can help a consumer improve poor credit scores. Most subprime cards report to major credit reporting agencies such as TransUnion and Equifax. Consumers that pay their bills on time should see positive reporting to the agencies within 90 days.
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Subprime Credit Cards
Subprime Loans
Subprime Home Loans
credit card for poor credit
Subprime Car Loans
Bad credit credit card
As with subprime lending in general, subprime mortgages are often defined by the type of consumer to which they are made available.
Subprime mortgage loans are riskier loans in that they are made to borrowers unable to qualify under traditional, more stringent criteria due to a limited or blemished credit history.
There are many different kinds of subprime mortgages, including:
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Subprime Credit Cards
Recently, starting in 2007, many new subprime credit cards have begun to emerge in the market. As more vendors have emerged the market has become more competitive and issuers have been forced to make the cards more attractive to consumers. Interest rates on subprime cards now start at 9.9% but in some cases still range up to 24% APR.
Subprime credit cards however can help a consumer improve poor credit scores. Most subprime cards report to major credit reporting agencies such as TransUnion and Equifax. Consumers that pay their bills on time should see positive reporting to the agencies within 90 days.
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Tips for Erasing Your Bad Credit
Bad credit can have a harmful effect on a number of things. If you have a bad credit, then you may not be able to get a loan or a credit card on the terms that are favorable to you. Moreover, it can even prevent you from getting some jobs. Thus, it is very important to erase bad credit
To erase bad credit, the most important thing that you need to do is to repay your old debts. By repaying these debts, no more negative reports would be filed in your credit history.
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How To Write A Credit Dispute Letter?
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How To Write A Credit Dispute Letter?
The key to repairing bad credit is to write a properly formatted letter of dispute to one or all of the credit bureaus and send them out via registered mail. Here's a step-by-step guide to writing a letter of dispute to get rid of those black marks off your credit report for good. For more Credit Building and Repair Tricks, visit http://www.ezcreditrepairsolutions.com
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5 Quick Steps That Can Improve Your Credit Score By 18 Points
If you are like most people, you have been hearing about the importance of a good credit report since you were able to hold a dollar in your hands. 
One of the best things that you can do for yourself is to keep a good watch on everything that has to do with your credit.
The better your credit is, the better the chance you have to get good rates on loans, credit cards and so forth. There are several steps that you should take in order to go through the process of building a good credit report that you can be proud of.
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5 Quick Steps That Can Improve Your Credit Score By 18 Points
Other Bad Credit Credit Card Resources
One of the best things that you can do for yourself is to keep a good watch on everything that has to do with your credit.The better your credit is, the better the chance you have to get good rates on loans, credit cards and so forth. There are several steps that you should take in order to go through the process of building a good credit report that you can be proud of.
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5 Quick Steps That Can Improve Your Credit Score By 18 Points
Other Bad Credit Credit Card Resources
Adding Tradelines And Other Ways To Improve Your Credit Report
For many people, a credit report is something akin to a mystery novel. 
It's a little hard to understand, and you never know how it's going to turn out if you don't read the whole thing. But you really do have the power to take the mystery out of understanding what your credit report is, how it affects your life, and what you can do to improve that all important credit score.
The Big 3 Credit Reporting Agencies
* Equifax, based in Atlanta, Georgia.
* Experian, based in Costa Mesa, California.
* TransUnion, based in Chicago, Illinois.
Each of these nationwide credit-reporting agencies maintains a credit report on you. Since you have no way to know which one of these agencies a potential lender will contact, you need to keep track of the info contained in all three reports.
How To Improve Your Credit Report Score
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Adding Tradelines And Other Ways To Improve Your Credit Report
Other Bad Credit Credit Card Resources
It's a little hard to understand, and you never know how it's going to turn out if you don't read the whole thing. But you really do have the power to take the mystery out of understanding what your credit report is, how it affects your life, and what you can do to improve that all important credit score.The Big 3 Credit Reporting Agencies
* Equifax, based in Atlanta, Georgia.
* Experian, based in Costa Mesa, California.
* TransUnion, based in Chicago, Illinois.
Each of these nationwide credit-reporting agencies maintains a credit report on you. Since you have no way to know which one of these agencies a potential lender will contact, you need to keep track of the info contained in all three reports.
How To Improve Your Credit Report Score
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Adding Tradelines And Other Ways To Improve Your Credit Report
Other Bad Credit Credit Card Resources
Free Credit Repair and Building Ebook
You don't need to hire a credit repair agency..you can repair your credit yourself!
I know you have seen Credit Repair Books online selling for anything from $9.99 to $190.00.I found a great Ebook on credit repair that I used to take my credit score from a 616 to 742.
It is still for free so I encourage you to sign up for their free credit repair guide at this resource:
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Tell Tale Signs That You Are A Victim of Identity Theft
The warning signs may include:
- Your mail does not reach you
- Unusual details or charges on your account
- You receive unexpected calls from creditors
- You receive notices for a new credit card
Subprime Market Riskier Than Americans Understood
President George W. Bush
WASHINGTON - President Bush extolled the fundamentals of the U.S. and global economy on Thursday but expressed concern in light of the subprime loan crisis, saying Americans applying for credit may not have entirely grasped the consequences of their choices.
"We've had a lot of really hardworking Americans, you know, sign up for loans, and the truth of the matter is they probably didn't fully understand what they were signing up for. And, therefore, I do believe it's the proper role for government to enhance financial, you know, education initiatives. And we're doing that. Got money in the budget to do that," the president said during a news conference in the White House's Brady press briefing room.
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Outlook For Subprime Lenders Seen As Tough
Joshua Lipton
Times are tough for companies involved in the subprime mortgage market industry, and it looks like it could get a lot tougher.
Goldman Sachs analyst Lori Appelbaum described the subprime mortgage credit outlook as "bleak" in a recent client note.
"The outlook for subprime mortgage credit quality remains extremely challenging," Appelbaum wrote. "This reflects very poor underwriting in late 2006 with the subprime mortgage market now hitting peak levels of early payment defaults and delinquencies in 2007 with peak losses to follow."
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Save or Splurge: Leisure Stuff
Yahoo Finance
To get the most for your money, you need to know two things: when the good stuff is worth paying extra for and when the economy choice is plenty good enough.
Driver Callaway FT-3 $299
Save or spend: Save
Driver Callaway FT-3 $299
Save or spend: Save
Save or Spend
Grill Weber Genesis E-310 NXT Extreme $34 a dozen
Save or spend: Save
Save or spend: Save
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Thou Shall not hide from Bad Credit
Subprime Credit Cards Resources
- Subprime Credit Cards --- bad credit, good credit, less than perfect credit
- An Unsecured credit card regardless of bad credit, GUARANTEED APPROVAL ! We can provide unsecured credit cards REGARDLESS of income, previous bankruptcy, or bad / no credit history!
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- Our guaranteed credit card program offers you guaranteed approval! Get your Visa and / or MasterCard Now! Apply Online and get approved in mins!
- Student Credit Card Offers - These companies offer credit cards to college students
- College students get a credit card here. These are companies are currently offering student credit cards.
- Bad Credit Loans Available Nationwide. Good Credit Programs Also Available.
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If you have been turned down recently because of your credit score, Continental Finance Gold is here to help you with the second chance you've
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CreditSoup®
CreditSoup®
CreditSoup.com is a free service designed to connect you with a lender that best fits your credit needs. Whether you have no credit, bad credit, or excellent credit, CreditSoup® makes finding your funding as easy as 1-2-3!
CreditSoup.com is a free service designed to connect you with a lender that best fits your credit needs. Whether you have no credit, bad credit, or excellent credit, CreditSoup® makes finding your funding as easy as 1-2-3!
Guaranteed Bad Credit Financing
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Top Five Credit Card Mistakes
When you're dealing with credit cards, you're playing with fire. Unfortunately, there are plenty of people out there who don't realize that, and make all sorts of dangerous mistakes with their credit cards every day.Paying Late.
Being Taken in By Rewards.
Collecting Cards.
Maxing Them Out.
Not Reading the Terms and Conditions.
The Truth About Business Credit Cards
- It separates your personal money from your business funds. It gives you the option to distribute business credit cards to your employees to keep track and control spending on all your business purchases.
- business credit cards can be used to temporarily fund a business and get it started without waiting for a bulk of cash to come in hand.
- The business credit cards give rewards to their customers which surely benefits small business owners and entrepreneurs.
- Certainly business credit cards are a convenient way to handle your business resources. A vital point to bear in mind always is that managing your finances requires self-discipline and a proper view of money. Using your business credit cards to its full potential is up to you. Take advantage of all your privileges but never abuse them.
How To Safe Guard Yourself Against Financial Trouble
If you suffer from bad credit, it is most likely that you've had or you still have unpaid debts in your account. When was the last time you checked your credit report? Are you 100% sure that your credit report is accurate and that there are no unauthorized charges in it?
Your Credit Report and Bad Credit
Why should you take an interest in what your credit report says about you? Most people do not realize that their low credit score is actually a result of inaccurate information on their account. By obtaining a copy of your credit report, you can examine and file a dispute with the three big credit bureaus and the creditors themselves. This is a very important to do BEFORE you apply for any new credit cards or loans.
continue reading How To Safe Guard Yourself Against Financial Trouble
Tips In Filing for Bankruptcy In the United States
If you are thinking about declaring a personal bankruptcy, this article contains some essential points for you to ponder. The procedures in filing bankruptcy in the United States somewhat differ depending in your local State. It is advisable to talk to your lawyer about the specific bankruptcy laws in your State. Here are the basic details of bankruptcy that you need to know.To file or not to file.
Never seek bankruptcy without first considering all your options. Is it really necessary for you to file for bankruptcy? Remember, a record of bankruptcy will stay on your credit report for up to 7 years. Such a derogatory mark can be a major disadvantage in your life. If you are faced with a serious debt situation, perhaps you can take on other alternatives.
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Tips In Filing for Bankruptcy In the United States
Practical Tips on Getting a Bad Credit Mortgage
Getting a mortgage with bad credit is possible but you need to be extra careful in choosing a lender. You need to be prepared to pay higher fees than your good credit counterparts. You also need to do a lot more due diligence before you sign on the bottom line. Just because you need a bad credit loan doesn't mean you have to settle with extremely high interest mortgage loans. Here are practical tips on how to choose a bad credit mortgage:
* Assess your financial situation carefully. Before considering applying for a bad credit mortgage, think about how a new loan can affect your financial situation. Have you made plans on how you'll be able to keep up with your mortgage payments? Are you sure that you are prepared to take on a new responsibility?
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Practical Tips on Getting a Bad Credit Mortgage
Bad Credit Credit Cards
Secured Credit Cards
Business Credit Cards
Low Interest Credit Cards
Student Credit Cards
* Assess your financial situation carefully. Before considering applying for a bad credit mortgage, think about how a new loan can affect your financial situation. Have you made plans on how you'll be able to keep up with your mortgage payments? Are you sure that you are prepared to take on a new responsibility?
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Practical Tips on Getting a Bad Credit Mortgage
Bad Credit Credit Cards
Secured Credit Cards
Business Credit Cards
Low Interest Credit Cards
Student Credit Cards
What Are The Steps In Disputing Credit Report Errors?
A person's credit report contains important information about their identity and relationship with lenders. However, it is not unusual for a credit report to contain errors. Sometimes, credit reporting agencies are at fault but there are cases when the creditors report incorrect information to the credit bureaus. This article focuses on the right steps on disputing credit report errors. Hopefully, reading this article will be of help in setting things straight about your credit report.Requesting Your Credit Report
How do you request for a free credit report? You can do this by visiting annualcreditreport.com- a website set up by the three major credit bureaus for consumers who wants to order a free credit report at least once a year. People who have been denied credit by a lender, insurer or have been turned down by his employer because of his credit can also request for a copy of their credit report at no charge.
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What Are The Steps In Disputing Credit Report Errors?
Get your 3 Credit Report for Free
credit improvement articles
Adding Tradelines And Other Ways To Improve Your Credit Report
How excessive inquiries can ruin your credit
A Question That Could Ruin Your Credit
Making Your Credit Report Work For You
Easy steps to paying off your credit card debt
Alternatives To Credit Cards
How To Negotiate Your Debt
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CREDIT IMPROVEMENT ARTICLES
Frequently Asked Questions About Bad Credit Credit Cards
Bad credit is a big, and growing problem in the US. In this article, we will be answering questions regarding bad credit. If you are currently having problems with your credit score, check out these questions and find out what you can do about improving your credit rating.
No. Even with bad credit, you can still apply and be approved for a credit card. Although standard credit cards generally require excellent credit or high credit scores from their applicants, there are credit card companies that have special programs designed especially for people with bad credit. Bad credit credit cards were created to cater those who will not qualify for a standard credit card due to a low credit score.
What are bad credit credit cards?
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Frequently Asked Questions About Bad Credit Credit Cards
If you have bad credit, does that mean you can never apply for a credit card?
No. Even with bad credit, you can still apply and be approved for a credit card. Although standard credit cards generally require excellent credit or high credit scores from their applicants, there are credit card companies that have special programs designed especially for people with bad credit. Bad credit credit cards were created to cater those who will not qualify for a standard credit card due to a low credit score.
What are bad credit credit cards?
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Frequently Asked Questions About Bad Credit Credit Cards
New RSS: Add Your Own Feed
Fetching RSS feed... please stand byThe Best Lease May Be Someone Else's
Yahoo Finance--by David Bach
A few months ago, I was having dinner with a friend who had just gotten a new Range Rover -- a really sharp vehicle that's fully loaded and fun to drive. As it turns out, he didn't buy or lease it directly from a dealer. He took over someone else's lease, and saved a fortune in the process.My friend's experience led me to think about the other side of the deal -- what the benefits were for the person looking to get out of the lease.
Suppose your personal circumstances change -- you lose your job, have a baby, or experience another life event that affects your financial situation. What options do you have for getting out of an expensive lease that may be costing you hundreds of dollars a month more than you can afford?
Why Auto Leasing Is Popular
Approximately 17 million cars are leased every year in this country. That's about one-third of all new cars sold, according to CNW Marketing Research.
Leasing is popular because of lower upfront costs, and it gives many people the ability to drive a nicer car than they could otherwise afford. In fact, about 90 percent of the new luxury cars you see on the road are leased.
When you lease a car, you're basically renting that car for a specified time period -- usually 24 or 36 months. But keep in mind that once you're in a lease, the automaker and car dealer are no longer in the equation. It's now an agreement solely between you and the financial institution holding your lease. And believe me, they don't have any big incentive to let you out of the lease early or take it back.
Break Your Lease without Going Bust
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Subprime Car Loans
Is College Worth the Cost? Part 2
by Anya Kamenetz
"Isn't a master's degree the new bachelor's?" I hear this all the time when I visit college campuses.
In some ways, the answer is yes. The number of master's degrees conferred is expected to rise 30 percent over the next 10 years, and 40 percent of college graduates will enroll in a graduate program within a decade after college.
But does graduate school pay off? I'll unabashedly ignore the value to humanity of pure research and the liberal arts in answering this question, and focus instead on the hard economics of a graduate education.
Caution and Preparation Are Key
Bad news for jumbo mortgage loans
by Holden Lewis
Buyers of pricey houses are finding that money has suddenly become more expensive to borrow. Ditto for loan applicants who don't want to prove that they told the truth about their incomes.
Rates on jumbo and Alt-A mortgages have zoomed upward since the last week of July, even as rates on conforming, fixed-rate mortgages slipped downward.
The development is bad news for people who want to borrow more than $417,000 to buy a house or refinance a loan, or who can't or don't want to document their income. Rising jumbo rates make it more difficult to sell a house costing half a million dollars or more.
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Let's hear from each other
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KimGiancaterino
Very informative... and timely! Posted February 01, 2008 |
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Knowles
kudos! Posted January 25, 2008 |
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Knowles
kudos! Posted January 25, 2008 |
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elishadavis
Neat and sleek lens. 5 stars indeed. Thank you for the valuable info and resources. Drop by sometime at Credit Card Rewards - Credit Card Reward Programs - Rewards Credit Card. Cheers, Elisha Posted December 27, 2007 |
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elishadavis
Neat and sleek lens. 5 stars indeed. Thank you for the valuable info and resources. Drop by sometime at Credit Card Rewards - Credit Card Reward Programs - Rewards Credit Card. Cheers, Elisha Posted December 27, 2007 |
Stocks Rise As Risk Appetite Returns
By Madlen Read, AP Business Writer
Wall Street Advances As Investors Sell Safe Government Bonds, Banks Borrow From Fed
NEW YORK (AP) -- Stocks jumped Wednesday as investors interpreted selling in the Treasury market and an increase in borrowing by banks as signs that the Federal Reserve's efforts to loosen up the credit market might be working.
The 3-month Treasury bill, which earlier in the week drew massive buying as investors sought the safety of short-term government assets, fell Wednesday, an indication that stocks are no longer seen as risky as they were just a few days ago. The selling boosted its yield to 3.66 percent, up from 3.59 percent late Tuesday and Monday's low of 2.51 percent.
The 3-month Treasury bill, which earlier in the week drew massive buying as investors sought the safety of short-term government assets, fell Wednesday, an indication that stocks are no longer seen as risky as they were just a few days ago. The selling boosted its yield to 3.66 percent, up from 3.59 percent late Tuesday and Monday's low of 2.51 percent.
Read full story at Yahoo Finance
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Subprime Credit Cards
Subprime Loans
Subprime Home Loans
Subprime Car Loans
NEW YORK (AP) -- Stocks jumped Wednesday as investors interpreted selling in the Treasury market and an increase in borrowing by banks as signs that the Federal Reserve's efforts to loosen up the credit market might be working.
The 3-month Treasury bill, which earlier in the week drew massive buying as investors sought the safety of short-term government assets, fell Wednesday, an indication that stocks are no longer seen as risky as they were just a few days ago. The selling boosted its yield to 3.66 percent, up from 3.59 percent late Tuesday and Monday's low of 2.51 percent.
The 3-month Treasury bill, which earlier in the week drew massive buying as investors sought the safety of short-term government assets, fell Wednesday, an indication that stocks are no longer seen as risky as they were just a few days ago. The selling boosted its yield to 3.66 percent, up from 3.59 percent late Tuesday and Monday's low of 2.51 percent.
Read full story at Yahoo Finance
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Stocks Retreat As Credit Worries Linger
By Joe Bel Bruno, AP Business Writer
Wall Street Falls Back As Credit Worries Linger Despite Countrywide Investment
NEW YORK (AP) -- Wall Street fluctuated Thursday as ongoing anxiety about widening credit problems offset investor optimism about a $2 billion capital infusion into troubled mortgage lender Countrywide Financial Corp.
The market gave up a moderate early gain, but erratic trading was to be expected given the amount of uncertainty about the credit markets, and the fact that Wall Street had a big advance Wednesday with the Dow Jones industrials rising 145 points.
Bank of America Corp. announced late Wednesday it will invest the money into the nation's largest mortgage lender to help it better weather problems with defaulting subprime loans.
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Subprime Credit Cards
Subprime Loans
Subprime Home Loans
Subprime Car Loans
NEW YORK (AP) -- Wall Street fluctuated Thursday as ongoing anxiety about widening credit problems offset investor optimism about a $2 billion capital infusion into troubled mortgage lender Countrywide Financial Corp.
The market gave up a moderate early gain, but erratic trading was to be expected given the amount of uncertainty about the credit markets, and the fact that Wall Street had a big advance Wednesday with the Dow Jones industrials rising 145 points.
Bank of America Corp. announced late Wednesday it will invest the money into the nation's largest mortgage lender to help it better weather problems with defaulting subprime loans.
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Gaining Control Over Your Credit Card Debt
Do you lie awake at night worrying about your credit card debt? Do you own several different credit cards and having problem managing all at once? Is your mailbox swamped with past due billing statements? Are collection calls making you consider disconnecting your phone? If your debt is starting to trouble you, then it's time to really do something about it before it gets even out of control.Time To Test How In Touch You Really Are With Your Financial Situation
Housing Fears, Home Depot Bargains
by Harold Maass of The Week
NEWS AT A GLANCE
Housing fears depress foreign stocks ... again
Most Asian markets edged lower today on concerns that the weak housing market would hurt U.S. economic health. Ongoing credit-market fears also dimmed the mood. (AP in Yahoo! Finance) Countrywide CEO Angelo Mozilo warned that the U.S. housing slump could drag the economy into recession. (Reuters) Home sales in the U.S. have followed "the path of a yo-yo" in the months since the housing boom ended, said ING economists, but "the 6-month moving average of the level of sales points out perfectly why homebuilders' sentiment recently hit a 16-year low." (MarketWatch)
Home Depot deals to save sale
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Housing fears depress foreign stocks ... again
Most Asian markets edged lower today on concerns that the weak housing market would hurt U.S. economic health. Ongoing credit-market fears also dimmed the mood. (AP in Yahoo! Finance) Countrywide CEO Angelo Mozilo warned that the U.S. housing slump could drag the economy into recession. (Reuters) Home sales in the U.S. have followed "the path of a yo-yo" in the months since the housing boom ended, said ING economists, but "the 6-month moving average of the level of sales points out perfectly why homebuilders' sentiment recently hit a 16-year low." (MarketWatch)
Home Depot deals to save sale
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How to Sell a House in a Buyer%u2019s Market?
by Jack M. Guttentag--Yahoo Finance
These days, I hear many complaints from home sellers:
"It's been on the market for nine months with nary a nibble."
"I cut the price three times, and it still hasn't sold."
"Three other houses on my block are up for sale, so I took mine down."
In a buyer's market, sellers not only compete with each other, they are also in competition with builders. But builders have an advantage: They have affiliations with lenders through whom they offer financial inducements that most individual home sellers don't know about. Yet the fact is that there is nothing builders offer that individual home sellers cannot match, provided they know how.
Reducing Price Often Not the Answer
Typically, the first thing sellers think about doing to make their houses more marketable is reducing the price. Very often, that doesn't work, because the price is not the problem. If potential borrowers are cash-constrained or income-constrained, a price reduction provides very little help.
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Do You Have Good Debt or Bad Debt?
by Liz Roberts
Not all debts are considered dreadful. Some debts can actually improve your credit score and your worthiness as a borrower. Let's discuss the differences between good debts and bad debts and hopefully, by the end of this article you'll be able to take an objective look at your financial state and act to manage your debts accordingly.
Good Debt
Bad Debt
Bad Debt Management
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Do You Have Good Debt or Bad Debt?
Three great ways to mess up your 401(k)
By Walter Updegrave, Money Magazine senior editor
What's worse than approaching retirement with too little money because you didn't contribute enough to your 401(k)? How about saving diligently but sabotaging your effort because you've made poor investing decisions?
Recent research from Financial Engines, an online advice service, suggests many people are doing just that.
In a study of 100,000 401(k) participants, the company found that 70 percent gave up returns of one to three percentage points a year after inflation because of common and entirely avoidable blunders.
The cost: potentially hundreds of thousands of dollars over the course of a career.
Don't repeat their mistakes. Ask yourself if you're guilty of the following:
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Subprime Credit Cards
Subprime Loans
Subprime Home Loans
Subprime Car Loans
Bad Credit Personal Loans
Recent research from Financial Engines, an online advice service, suggests many people are doing just that.
In a study of 100,000 401(k) participants, the company found that 70 percent gave up returns of one to three percentage points a year after inflation because of common and entirely avoidable blunders.
The cost: potentially hundreds of thousands of dollars over the course of a career.
Don't repeat their mistakes. Ask yourself if you're guilty of the following:
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Subprime Mortgage Woes Push New Foreclosures to a Record High
New Mortgage Foreclosures Set Record
by Martin Crutsinger, AP Economics Writer
WASHINGTON (AP) -- The number of homeowners receiving foreclosure notices hit a record high in the spring, driven up by problems with subprime mortgages.
The Mortgage Bankers Association reported Thursday that mortgage-holders starting the foreclosure process in the April-June quarter reached 0.65 percent, marking the third consecutive quarter that this figure has set an all-time high.
The delinquency rate, which tracks the number of people who are behind in their payments but have not yet entered the foreclosure process, was also up sharply during the spring, rising to 5.12 percent of all loans, up nearly three-fourths of a percentage point from the same period a year ago.
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Subprime Credit Cards
Subprime Loans
Subprime Home Loans
Subprime Car Loans
WASHINGTON (AP) -- The number of homeowners receiving foreclosure notices hit a record high in the spring, driven up by problems with subprime mortgages.
The Mortgage Bankers Association reported Thursday that mortgage-holders starting the foreclosure process in the April-June quarter reached 0.65 percent, marking the third consecutive quarter that this figure has set an all-time high.
The delinquency rate, which tracks the number of people who are behind in their payments but have not yet entered the foreclosure process, was also up sharply during the spring, rising to 5.12 percent of all loans, up nearly three-fourths of a percentage point from the same period a year ago.
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Real Estate Bets in Shaky Times
by David Bogoslaw
Most analysts are down on real estate investments, but investors can still benefit in some ways from exposure to the market
The slump in the U.S. housing market has convinced many investors to stay away from real estate investments for the foreseeable future, with analysts unable to call a market bottom. That's weighing not only on hard assets such as homes and condos, but on stocks like real estate investment trusts, whose prices have dropped since the beginning of the year.
REIT investors look for attractive cash flows in the form of quarterly distribution income and capital appreciation over time. In terms of cash flow, publicly traded REITs-with yields of 3% to 4%-aren't attractive, compared with the higher yields on risk-free Treasury bonds, according to Milton Balbuena, chief investment strategist at Contango Capital Advisors, the wealth management arm of Zions Bancorporation.
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Your credit score may not be the only thing driving your rate
By Gail Liberman and Alan Lavine
PALM BEACH GARDENS, Fla. (MarketWatch) -- Too many borrowers may be unfairly blaming credit scores for their higher-than-expected loan rates or extra credit-card fees, according to a recent working paper.
The real culprit may be your own misunderstanding of how the lending process works, coupled with a failure to conduct adequate research before you apply, suggests the MIT Department of Economics working paper.
The paper, written by a team of Federal Reserve and university researchers led by Sumit Agarwal of the Federal Reserve Bank of Chicago, admits a FICO credit score may determine if you're offered a loan. But other factors may contribute more heavily to your rate and fees.
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kallele
I love your lens =)very helpful Posted August 24, 2008 |
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Five stars for a very well crafted lens! Posted June 30, 2008 |
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5* for all this useful into and the to the point way it is presented. Posted January 26, 2008 |
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You did a lot of work here, really well done! and you left a riddle on my riddle squidoo page that you must tell me the answer to! http://www.squidoo.com/Good_Riddles Posted January 10, 2008 |
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Mark-Nehs
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Don't let bad credit impact your student loan
by Brigitte Yuille
Why it's important
Bad credit can affect many parts of your life, but it shouldn't keep you from getting an education. As long as you haven't stopped paying on a previous student loan, you can still get the financial help you need to go to school.
Students can borrow using federally subsidized loans or private loans.
Federally subsidized loans assume the student hasn't established a credit history when applying for school aid, so history is not considered.
This isn't true of a private loan or a federal Parent Loan for Undergraduate Students, also known as a PLUS loan.
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Student Credit Cards Resources
Bad credit can affect many parts of your life, but it shouldn't keep you from getting an education. As long as you haven't stopped paying on a previous student loan, you can still get the financial help you need to go to school.
Students can borrow using federally subsidized loans or private loans.
Federally subsidized loans assume the student hasn't established a credit history when applying for school aid, so history is not considered.
This isn't true of a private loan or a federal Parent Loan for Undergraduate Students, also known as a PLUS loan.
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Student Credit Cards Resources
Rising Reliance On Credit Cards Could Reflect Subprime Fallout
Reinhardt Krause
Rising credit card borrowing may be a sign of consumer distress spreading from the subprime mortgage market to other types of lending, some economists say.
While defaults among home buyers have spiked, the number of credit card loans in delinquency has been running steady.
One possible reason, analysts say, is that troubled first-time homebuyers have been choosing to stay current on credit card payments while walking away from homes on which they put down little upfront money.
Charging Up Trouble?
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While defaults among home buyers have spiked, the number of credit card loans in delinquency has been running steady.
One possible reason, analysts say, is that troubled first-time homebuyers have been choosing to stay current on credit card payments while walking away from homes on which they put down little upfront money.
Charging Up Trouble?
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