Category: Loans

Credit card debt is a huge concern in America, with an average of $5,700 owed by the typical American which increases each month due to interest. Fortunately, merging this debt into a personal loan at a lower interest rate can give one a way out toward financial independence.

As costs rise and people try to get the most out of their money, more are looking at their financial plans anew. Various government actions such as stimulus packages have come in handy while President’s directive giving students up to 2021 payment deferrals and interest suspension has provided some families with some financial breathing space.

Providing assistance in the form of getting a loan for someone that you know is a good gesture. Yet, co-signing on one’s behalf is quite common but risky. As per statistics by CreditCards.com, one in every six people has signed with another person for either credit card or other loans.

Life is costly, with rent and mortgage payments due, credit card debts, car loans and basic needs like food. These costs can quickly accumulate, and depending on your financial situation they may become overwhelming. In such cases, a personal loan can be the best option.

Sometimes, a financial emergency can come out of nowhere and leave one in a panic. It could be a sick pet, essential auto repairs or another pressing need that often necessitates immediate financial aid.

Student loans have proven to be a great financial burden. It is estimated that between $900 billion and $1 trillion is owed in student loan debt by Americans according to the United States Federal Reserve, a figure that has been increasing since the 1980s.

Securing financing has been difficult for my family because we rely on revenue from my small business. Unlike uncomplicated situations involving monthly pay stubs and tax filings, our loan applications sometimes require more examination. In fact, a lender turned me down for a mortgage because of the fluctuation in my monthly income.

Floating rate; This is a term that may sound quite familiar after the ‘fixed rate’ and ‘variable rate’ terms used in financial discourse. However, if these are analyzed further, one can clearly see that such concepts are, in fact, far from it.

An FHA loan therefore means a loan that is insured by the FHA, thus making it easier for individuals to secure loans for purchasing homes. But what does this make me wonder is whether, can one use one as a mortgage?

Stem debt remains one of the significant factors of concern in America today where total student debts stand at more than $1. 5 trillion. This financial pressure impacts millions of people; however, due to 2020’s low wages and high levels of joblessness, it is even more pronounced.