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Latest Blog Entries

Credit Costs Fall, But Who Will Lend?

Your Home 2009: What to Expect

Why ARMs are Such a Problem for Housing

More Mortgage & Loans Blog Entries

Latest Articles

How to Spot Corrupt Foreclosure Rescue Loans
If you’re a homeowner facing foreclosure, you must protect yourself against foreclosure scammers. Find out exactly what these scammers do and learn how to protect your home against them. [read more]

Why an FHA loan?
An FHA loan, issued by federally qualified lenders, will help you get a home loan if you cannot afford a conventional loan or private mortgage insurance. It also helps people who were hurt by the subprime mortgage crisis. [read more]

Foreclosure Rescue Loans
More families are facing a foreclosure. This crisis has affected so many people, states are now offering foreclosure rescue loans. They might help you keep your home. [read more]

More Mortgage & Loans Articles

Mortgages & Loans

How to Use Loans to Your Advantage

"Don't borrow money from a neighbor or a friend, but of a stranger where, paying for it you shall hear of it no more."

--Lord Burleigh

1.  Loans are best used for making investments in things that grow in value. This list includes your home or other properties (real estate), a business (your own or another), or an education (to further your career or personal development).

2.  Own your own home instead of renting. Over time, owning is more cost-effective than renting, even taking into consideration the costs of a mortgage. Owning also helps you budget your monthly shelter expense and avoid rent increases. Make sure you have ample savings reserves and that you plan to stay in the home for several years.

3. Find the best mortgage option for your real estate investment. The various types of mortgages on the market today may seem overwhelming. Learn as much as you can about fixed rate loans, ARM (adjustable rate mortgages),  15- and 30-year mortgages, negative amortization loans, refinancing, mortgage life insurance, title insurance and escrow fees, and other terms. Negotiating skills can help you get the best price on your home purchase and your loan. Understand what's involved in getting approved for a home loan. Explore creative ways to come up with a good down payment to improve your loan interest rate.

4.  Get your best deal on a car loan. Shopping around online can help you find a better auto loan than simply accepting whatever the car dealer offers you.

5.  Take advantage of student loans and other financial aid options to invest in yourself. There are many ways to find money to finance your education, including loans, grants and other financial aid.

6.  Learn about personal loans and payday loans and use them cautiously. Seriously weigh the advantages and disadvantages of taking out an unsecured personal loan or a payday loan.

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