Payday Loan Facts

They sound enticing, especially if you are in a temporary financial bind – payday loans are short-term loans designed to be repaid by the time of your next “pay day.” The signature component of payday loans are the high interest rates that go along with the short cash infusion for the borrower. (more…)

Are Payday Loans a Rip-Off?

If you are short on cash and desperate to access even a few hundred dollars, you might be considering taking out a payday loan. These short-term loans are typically contracted for 2-4 weeks or less, and borrowers sign checks or grant electronic access on the due date of the loan. The loan amount, plus fees from an extremely high interest rate, are due on “payday”, along with processing fees. (more…)

First-Time Homebuyers in Oregon Offered Record Low Interest Rates

For over a year now, we’ve seen mortgage interest rates reach all time lows. Most of the time however, it is very rare for a lender to offer a fixed-rate mortgage below 3.25 – 3.50%. Yesterday, Oregon Governor Kitzhaber announced that the Oregon Housing and Community Services has lowered the interest rate for its first-time homebuyer program, known as the “Oregon Bond Loan, ” to a record low interest rate of 3.125%. (more…)

How to Get a Low Interest Rate Auto Loan with Bad Credit

Transportation is important for many parts of your life – getting to and from work, the activities with your family, appointments, and even to buy groceries. Unless you live in a big city where transportation typically only involves buses, taxis, and subway systems, chances are you might be looking for a vehicle. Whether you are looking to buy new or used, chances are also good that you will need a loan in order to make buying that vehicle possible. If you have bad credit, finding a low interest auto loan can seem just as challenging as finding a used car that doesn’t have a single dent or scratch. (more…)

How to Consolidate Payday Loans

You needed a fast dose of cash so you obtained an infamous payday loan. Then that one was a struggle to pay back with the extremely high interest rates and extra fees. In order to get over that hurdle, you took out another payday loan. Before you knew it you had accumulated several payday loans, each with the intention of catching you up financially and getting back on solid ground. This could be a huge mistake especially when you are financially strapped! (more…)

Payday Loan Tips

Payday loans are simply alternative methods to get extra cash with very little requirements. In reality, these loans should only be used as a last resort in case an unexpected emergency arises and you have no other options. However, even when experiencing an emergency and in need of extra money fast, you need to be very wary of this easy form of financing. Before ever considering a payday loan, you should first understand what a payday loan is. (more…)

How Much Notice is Required to Evict a Tenant?

Evicting a tenant may not be as easy as you would think. When you are trying to evict a bad tenant, you must do more than just ask them to leave. You must first give the person a quit notice asking them to leave and each state may have its own set of guidelines and timelines you must follow. This notice states your intentions and it gives them a chance to leave on their own, before you can file an eviction in court. (more…)

Federal Stafford Student Loan Forgiveness

With thousands of college graduates out of work, or just underemployed and experiencing difficulties paying back their student loans, many are having to think of creative ways to get by. If you have a Federal Stafford Student loan, the Stafford Loan Forgiveness Program may cancel part or possibly all of your debt. However, this program only applies to certain career choices and duties including, but not limited to: (more…)

Should I or Should I Not Get a Student Loan?

( — As a student I know the exact figures of how expensive college really is. Aside from tuition, the books, the driving and the additional costs that come along with college, college really add up. Student loans and grants are great ways to get more money for college. Many people prefer grants, because It’s basically free money, compared to student loans which you have to pay back, and with interest. (more…)

Does defaulting on rent affect my credit?

If you are struggling with paying bills and can’t decide if it is a credit risk to default on your rental agreement, you need this information. When you don’t have the funds to afford your rent, it does affect both your short-term credit report and your long-term credit future. All of these effects ride on the balance of the decisions your landlord makes. (more…)

How to get the best mortgage rate right now in November 2012

Mortgage rates remain at record lows as we start out this fresh month of November 2012 and we have made it through a not so scary month of October. The banks will most likely have plenty of left over treats for home loan shoppers as we head into the last two months of the year when traditionally in the past, real estate and mortgage shopping slows down.

This year should be no different.

Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing fixed mortgage rates moving slightly lower while continuing to remain near their all-time lows this week amid signs of a growing economy and low inflation. 30-year fixed-rate mortgage (FRM) averaged 3.39 percent with an average 0.7 point for the week ending November 1, 2012, down from last week when it averaged 3.41 percent. Last year at this time, the 30-year FRM averaged 4.00 percent. 15-year FRM this week averaged 2.70 percent with an average 0.7 point, down from last week when it averaged 2.72 percent. A year ago at this time, the 15-year FRM averaged 3.31 percent.

These are the months when most people tend to put home and loan shopping on the back burner so they can focus on the Holidays and family. The banks need business so they will entice consumers with low rates. What this means to you is that if you are serious about your home and loan shopping, that right now in November as we head towards the end of the year may be the perfect time to lock in a rate on that refinance you have been gun-shy with or to find that perfect real estate deal that makes sense on a great home somewhere nice.

Where can you find the best mortgage rate offers for a refinance in November?

This all depends on your credit and your income. If you are going to refinance, then another factor will be how much equity you have in your property.

Bottom line on refinancing in today’s market is that you must have equity, great credit and steady income to repay your loan to even be considered for a new mortgage. Once your meet this requirements then it is fairly simple obtaining a great mortgage rate from just about any lender. You have good options right now and it may be best to just go direct to your local bank and a few major banks such as Bank of America Home Loans, Chase Mortgage or Citi Mortgage to see which lender will give you the best mortgage offer. You can also use a reputable mortgage broker who can handle this process of shopping your loan for you and they may also be able to get you better deal at the same banks I listed above.

If you have no equity, but still need a lower rate and you have a Freddie Mac or Fannie Mae mortgage, you may then qualify for a HARP loan.

The HARP program was designed to assist homeowners who are currently up to date on their mortgage payments, but cannot secure today’s low interest rates through a refinance due to having an underwater mortgage. This means that the homeowner currently owes more on their mortgage than the property is currently worth.

Below are some basic eligibility requirements for HARP:

-The home is the borrower’s primary residence
-Mortgage is backed by Fannie Mae or Freddie Mac
-Must be current on payments when applying for HARP (this means that the borrower cannot be more than thirty days late on a payment within the last twelve months)
-The outstanding balance on the first mortgage cannot exceed more than 125% of the current market value of the home.
-Must have the financial capability to manage new mortgage payments

Where can you find the best mortgage rate offers to purchase a home in November

If you are going to purchase a home then you will also need good credit and steady income with a job history in the same field for at least two years. There are many loan programs available such as FHA and first time home buyer programs. These coming months as we close out 2012 may be a good time to find a home and loan if you buy in the right area. Just please still be careful because real estate is still very scary.

In addition to all the above, it also all comes down to the loan officer that you choose in making sure you get the best rate or have a smooth transaction. The wrong loan officer at the right bank or broker may kill your rate lock on your refinance or home purchase. Meaning that you had locked in an awesome rate and would get a loan pretty easily, but a bad loan officer may kill your rate lock by screwing up your paperwork or missing required loan items that make your lock expire or worse, you are rejected for what may have been a slam dunk mortgage.

LoanSafe as a free mortgage rate tool and loan search engine that you can feel free to use in order to find the best home loan for you in your area. The tool will show you the rate offers from various lenders without a commitment. We think it’s pretty cool.

So please be careful out there and remember that if you are a serious shopper that right now until then end of 2012 may be a good time to pull the trigger on a home and or loan. However please keep in mind that nothing is guaranteed in the rocky real estate world of finance and there are still may ghouls and goblins in the mortgage industry that seem play Halloween most all their lives.

California Tenancy Laws

There are a lot of laws in place to protect renters. However, it’s essential that renters learn at least the basic laws that do protect them from unjust landlords. Not all landlords are evil, but a lot of time tenants get taken advantage of because of their race, gender or just ignorance of laws that are in place. The state of California has many laws in place to protect tenants. (more…)