Saturday, September 29, 2007

Information About Homeowner Loans

A homeowner loan is generally of two kinds: a secured homeowner loan and an unsecured homeowner loan. A home owner loan is sanctioned on the equity of your home; if you have a 100% equity it goes without saying then, that the principal amount of the loan will naturally be a huge one corresponding to the present value of your home. Remember that the value of property is on the rise year after year. Today, your property is much more valuable than its original price that you had paid for.

A secured homeowner loan is given on the equity of your home on relatively simple and uncomplicated terms. This means that you are getting the loan upon the security of your home. Although you will be given a comfortable period of time to pay your loan, which will make your monthly payments within the reach of your budget, yet all the same a loan is a loan so be calculative enough and decide the exact amount of money that you are in need of. A secured homeowner loan has a nominal low rate of interest.

It could be that you are a cautious person and you don't feel secure to mortgage your home, because you don't want to jeopardize your family and kids by taking a risk, don't worry, you can always apply for an unsecured homeowner loan. The decision to take any of these alternatives entirely depends on you. An unsecured homeowner loan will have a slight higher rate of interest than a secured loan because you have not put up any asset as collateral, against your loan to your lender.

With communication at your finger tips, take some time from the luxury of your home or the comfort of your office and surf the internet for more knowledge on a homeowner loan. After having a broad idea, and weighing all the pros and cons of the loan, you should start searching for a reputed and an upright lender who will further guide you on this subject. Of course by now you must already have realized how many financing company exists thus making the finance field extremely competitive and aggressive. If you have unpaid credit and charge cards, or a pile pf unpaid bills, or any previous bad credit that yet hasn't been settled, you must give all this information to your lender, so that they can run a quick routine check on your bad debts.

Applications are easily available on line. They are short and brief and quick to fill and ask for just basic personal and at work details. You could save some money by negotiating on these issues with your lender:

∑ Lowest rate of interest that you can squeeze from your lender.

∑ A long time frame to pay up the loan.

∑ Work out a monthly payment that does not exert financial pressure on you, but on the contrary fix an amount that you can pay comfortably throughout the year.

To avoid any misunderstandings or squabbles with your lender inquire and settle any payments that you have to make to the lender regarding these areas:

∑ Find out the cost of the quote or if it doesn't have a cost.

∑ The fees that are charged for your home appraisal.

∑ The cost of all kinds of services that your lender has offered you.

∑ The fees for the legal paperwork and all kinds of documentations.

∑ Closure fees.

∑ Find out if there is a penalty on early settlement of the loan.

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Friday, September 28, 2007

Bank to set up unsecured divorce-settlement loans

GIFU, Ogaki -- The Ogaki Kyoritsu Bank will from Monday begin providing unsecured loans to cover the costs incurred in divorce settlements, bank officials said.

It is reportedly the first time that a bank has designed a loan especially for divorces. The bank reportedly came up with the idea after receiving feedback from its customers.

The bank will provide loans of between 100,000 yen and 5 million yen to cover compensation payments, distribution of property and legal fees.

Officials said that in fiscal 2006, there were about 20,000 divorces across three prefectures in the Tokai region.

A legal office familiar with divorce cases said that it was normal for legal fees in divorces to reach several hundred thousand yen, and for compensation to average about 4 million yen. However, since there were no loans designed especially for divorce settlements until now, people without money had no option but to use card loans and other loans with high interest rates.

The bank's divorce loans will be open to customers aged between 20 and 65 who had an income during the previous fiscal year of 2 million yen or more. The maximum loan period will be seven years. It will be a floating-rate loan with 3.45 percent added to the short-term prime lending rate. As of Tuesday, the rate stood at 5.825 percent. (Mainichi)

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Sunday, September 23, 2007

Student loan settlement

Hartford (WTNH) _ College presidents from 17-schools in Connecticut came together to say there is no loan scandal going on in the state.

The presidents of the colleges agreed today to a 'Financial Aid Code of Conduct' that would prohibit schools and financial aid staff from accepting gifts from lending institutions.

Three Connecticut colleges, Trinity College, Fairfield University and Sacred Heart University, also announced today they had agreed to donate a total of about $75,000 to scholarship funds to settle allegations they received benefits in exchange for giving preferred lender status to the student loan company, The College Board, Inc.

Like thousands of other parents, John Westman was helping his daughter Carly move in to a college dormitory this week. At Trinity, with tuition and board hovering around $50,000 a year, financial guidance from the school is a necessity for most parents.

"We shared our financial information. They were able to do an analysis and then offered some help for us in terms of loan, grants and work study," said Westman.

"The preferred lender list is of huge practical importance as are these loans to the students that they serve," said Attorney General Richard Blumenthal.

No one at Trinity received a bribe or a personal benefit.

"In the case of Trinity, a very slight reduction in software that we got from The College Board," said Trinity College president, James Jones.

One person at Fairfield University got a trip to Amelia Island, Florida.

"That person was invited to a conference on the financial aid topic that were often sponsored by some of the lenders. Obviously that is not something that will continue," said Fairfield University president, Reverend Jeffrey von Arx.

Representatives at all three schools say that students were not financially harmed in any way.

"What we found is that The College Board offered our students at least as good a deal as anybody else, and in most cases, a better deal," said Sacred Heart University president, Anthony Cernera.

The code of conduct will require that schools develop documents listing preferred lenders and how those lenders were selected. The documents will also let parents and students know that they have the right to select a lender of their choice.

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Saturday, September 22, 2007

BP explosion trial ends in settlement

GALVESTON, Texas -- BP PLC announced a settlement Tuesday with four workers who had sued the oil company over injuries in the deadly Texas City refinery explosion, abruptly ending the first civil trial stemming from the blast. The trial over the 2005 accident, which killed 15 people and injured 170, began Sept. 5. It was the only one of hundreds of lawsuits from the blast to reach the courtroom. Details of the settlement were not disclosed.

Lehman net falls less than expected

NEW YORK -- Lehman Brothers Holdings said Tuesday quarterly earnings fell 3.2 percent as it wrote down mortgage and high-yield loan assets, but its shares surged as results beat expectations and the investment bank said the worst of the credit correction was over. Bear Stearns, Goldman Sachs and Morgan Stanley also post earnings later this week.

J&J's Prezista challenges Abbott

NEW YORK -- Johnson & Johnson said Tuesday its drug Prezista was at least as effective in a late-stage trial as Abbott Laboratories' Kaletra in cutting HIV to undetectable levels among patients not previously treated with HIV drugs. J&J said HIV levels dropped to undetectable levels after 48 weeks among 84 percent of patients taking experimental 800-milligram doses of Prezista, compared with undetectable virus levels in 78 percent of those receiving Kaletra.

Oil prices rise to new records

NEW YORK -- Oil futures rose to new records Tuesday after the Federal Reserve cut interest rates, raising market hopes that economic growth will accelerate and lift demand even as crude oil and gasoline inventories are tight. A barrel of crude surged to a new trading high of $81.90 on the New York Mercantile Exchange in the moments immediately after the Fed's decision. While light, sweet crude for October delivery settled at $81.51 a barrel, up 94 cents, prices continued to rise after the exchange closed, hitting $82.38 in afternoon electronic trading.

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Settlement reached over release of student loan documents

Associated Press - August 28, 2007 2:14 PM ET

DES MOINES, Iowa (AP) - A settlement has been reached in a lawsuit to stop The Des Moines Register from obtaining documents from a student loan lender.

Iowa Student Loan Liquidity filed the lawsuit in May. It wanted to keep the documents from being made public, saying it feared they could expose certain "personnel issues and competitive business strategies."

The West Des Moines-based nonprofit corporation has now agreed to release the documents.

The Register requested the records as part of its examination of the organization.

Iowa Student Loan was created by the state three decades ago and is now 1 of the largest student loan lenders in Iowa.

Last winter, the nonpartisan Iowa Legislative Services Agency called for lawmakers to question whether the organization's mission was being achieved. A state audit is now being done. It should be concluded in a few weeks.

Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Does life insurance 'life settlement' make sense?

I am 80 years old and considering buying a $1-million life insurance policy, using a "non-recourse premium financing" loan. I intend to sell the policy after two years by making a "life settlement" and repay the loan from a portion of the sale proceeds. Everything I've read about this plan seems positive and legal; however, experience tells me there is no such thing as a free lunch.

E.B., via e-mail

Your caution is well-founded. This plan is riskier and less potentially rewarding than it seems.

Life settlements are aggressively marketed and likely to be pitched to other readers. They're too complex to address in one column, so this is the first of two.

Let's set the stage with a hypothetical 80-year-old, Joe X, who owns a $1-million life insurance policy. His heirs are already well provided for, and he doesn't want to pay premiums anymore. He could return his policy to the insurer for its cash "surrender" value. But he may be able to sell it to a life settlement company for a lot more money -- perhaps $200,000 or $300,000, depending on his health. That company would become the new policy owner, pay the premiums until Joe dies, and then collect the $1-million death benefit. "If you have an old policy that has outlived its usefulness, this is an alternative worth exploring," says Richard B. Freeman, a Greenwich, Conn., financial adviser. For now, let's stick to the deal you're contemplating: buying a policy in order to sell it. (Next week, I'll discuss the pros and cons of selling a policy you already own.)

One problem for the settlement business is that people like Joe are relatively rare. That's where you come in. You've been recruited to buy a $1-millon policy with a "non-recourse" premium loan. That means you don't put up a dime; it's like buying a house with no downpayment. You then sell the policy -- giving up permanent access to your medical records as part of the deal -- to a settlement company. It collects $1 million when you die.

Is this legal? Technically, at least for now. But it violates the spirit of the law. Legally, insurers can sell coverage on your life only to someone with an "insurable interest" in you -- i.e., a reason for wanting you to stay alive. That's why the settlement company needs you to buy the policy from the insurer. You'll probably have to lie when you do, because many insurers now require a signed statement that you're not borrowing to buy a policy you intend to sell. This requirement has made non-recourse financed policies less attractive to settlement firms: If an insurer can show you lied on its application, it can contest a claim beyond the usual two-year limit. Some settlement firms no longer buy non-recourse financed policies, says Glenn Daily, a New York City fee-only insurance consultant.

If you do this deal, the financing company gets hefty interest on its loan. The middlemen -- the agent who sells you the policy, the broker who shops it to settlement firms, the broker who represents the buyer -- all get big commissions. The buyer gets the $1 million pay-off when you die.

And you? You give your health records to strangers who'll profit from your death. In exchange, you get two years of "free" insurance and a share of the proceeds for selling the policy. That may be much less than you expect. The policy's sale price depends on whether your health has deteriorated since you bought it. "You get a really big offer only if you're going to die much sooner than anyone anticipated two years earlier," says Freeman. If not, the price is relatively modest. After everyone else has been paid, there may be little or nothing left for you.

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Wednesday, September 19, 2007

Use A Debt Consolidation Loan To Eliminate Your Credit Card Debt

A loan for credit card debt consolidation could be the solution to your problems if you are in debt because of over spending through your credit cards. If you do not pay your credit cards on time this may incur you penalty charges. One more thing to bear in mind is that credit card interest rates are usually extremely high (20% interest rate is not unusual!). When you look at credit card debt consolidation loans interest rates are really low (less than 10% is common). This can save you a reasonable amount of money month after month.

A consolidation loan merges all your credit card debts into one single repayment plan. This eliminates any debt related hassles and enables you to plan and manage your finances more efficiently. Consolidation loans can be both secured and unsecured. Unsecured loans include pretty much everyone, it doesn't matter if you own a home or not.

A credit card debt consolidation loan reduces stress. The constant financial pressure, threatening calls from your creditors and lenders, etc, they can all have a deep impact on your life, producing anxiety and psychological pressure as well. Reducing your repayments through the use of a credit card debt consolidation loan helps you lead a more relaxed life. It gives you freedom from the fear of bankruptcy; it helps you in avoiding collection calls and harassment from creditors. With a consolidation loan you can re-plan your budget more efficiently.

There are certain measures which you can take in order to aid your financial situation along with obtaining a credit card debt consolidation loan. These include:

•Reduce credit card use.

•Make cash purchases wherever possible.

•If you don't want to carry cash, use debit cards.

•Don't spend more than your capability to repay.

In addition to some of these and other measures you can hire the services of a credit card debt consolidation agency, which can access your financial status and prepare debt management plans to help you overcome your current debt situation and avoid it in the future. These measures will make a credit card debt consolidation loan more effective.

To apply for a credit card debt consolidation loan you can use the internet and find the dozens of sites that offer it online. You can compare all their quotes; there are also many online comparison tools that will help you with this.

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Saturday, September 15, 2007

Bad Credit Auto Loans

You may wonder, how can a bad credit get loans?! That can't be possibel! That's your opinion. The truth is, you can get loans , even car loans with bad credit. You don't know where to get them, right? Ok, I happen to know a place to get bad credit car loan. It is . Auto loans bad credit can come true here.

They are one of the world's largest Special Finance car dealerships. They can finance just about anybody. They guarantee bad credit auto loans for people with bad credit. Financing people with bad credit is their specialty. These include Bad Credit Auto Loans, Auto Loans for people with bad credit, and car credit loans. They have all makes and models for vehicle financing. If you have slowpays, bankruptcy, bad credit, or marginal credit - They can finance you GUARANTEED*!

You see now? Your dream will come true. So you know now everything is possible at

What are on earth are you waiting for! If you have bad credit, you can still use it at You can use it to get auto loans.

Hurry up man! First come, first service!

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