Andrew Cuomo's Efforts - Cleaning Up The Student Loan Industry

The hard working Attorney General, Andrew Cuomo is back in the saddle, hacking away at the student loan lenders across the United States.  

Story…

New York Attorney General Andrew Cuomo said Wednesday he is widening a probe of the student loan industry to target underwriting standards, prompting lawmakers at a U.S. Senate committee hearing to raise questions about possible discriminatory red-lining.

The $85 billion student loan industry is under scrutiny by Cuomo and Congress for alleged kickbacks and conflicts of interest involving lenders and college financial aid officers.

The U.S. House approved a bill to crack down on such practices last month, and the Senate is considering action.

Cuomo, who has already reached legal settlements with many colleges and lenders, told lawmakers he has begun looking at loan underwriting criteria used by lenders when deciding whether to offer loans to students, such as the university attended by the student, income and creditworthiness.

Cuomo said he is asking questions such as, "What are the civil rights ramifications of those factors?"

Ranking Committee Chairman Chris Dodd questioned industry officials at the hearing about "the redlining aspects of all of this." Red-lining refers to the home mortgage market practice in which lenders barred potential borrowers from getting loans based on the neighborhoods they lived in.

Dodd, one of 10 Democrats seeking his party's presidential nomination, asked officials, "Why would you brand someone" based on the college they were attending? He asked if "historically black colleges, for example," might be hurt by such a practice.

The Connecticut Democrat said any practices that would prevent the most needy students from getting loans would be "doing the direct opposite of what we're trying to do."

Cuomo urged Congress to legislate a crackdown on student loans, including the fast-growing private loan market.

"I urge Congress to enact stringent legislation to clean up all of the student loan industry," he said.

In recent months, Cuomo's office and congressional committees have alleged that student loan firms offered gifts and payments to college financial aid officers to curry favor with them and drum up business among student borrowers.

The House overwhelmingly passed a bill last month attacking student loan market misconduct. The measure would require colleges and lenders to abide by new codes of conduct, ban gifts from lenders to aid officers, require disclosure of college-lender links and protect students from aggressive marketing.

Dodd said he expects his committee will look at the private loan market, while Massachusetts Democratic Sen. Edward Kennedy's Education Committee looks at government-backed loan programs and issues related to the U.S. Department of Education.

"The practices we've heard about are going to stop, one way or another," Dodd said.

[Source CNNMoney.com]

Attorney General Andrew Cuomo – Doing His Thing

 

Student Loans - Necessary Evil

Student loans can be a necessary evil in the modern world. In the new century, finding a good job, or career, without a solid education is difficult.

Story…

Student loans are necessary if you want to secure your future. Unless you are lucky enough to have been given a full scholarship or your parents can afford to pay your way through college, you will need a student loan.

This is the reason it is so important to keep your mind open, and your options open when you are deciding on a career. You want to make sure you like your chosen field because you will be paying down your student loan in the early part of your career.

The best university or school will do you no good if you don't enjoy the end state and that is your job.

Now……..if you are not just starting out in life, and you need a student loan to further your education, you already know everything I mentioned in the paragraph above. You may actually need a student loan

Student loan providers are very competitive and use all avenues to advertise their financial services to students. They are very adapt at using the Internet to advertise and I'm sure you are well aware of that.

There are so many student loan companies that it is important to have a road map when choosing who to apply for funding with. If you are approved for a student loan through Sallie Mae then you won't need any services from this site and the odds are you are not approved through Sallie Mae since you are reading this page.

Whatever you do don't sweat it! There are many reputable student loan companies that will help you with reasonable interest rates and terms.

When applying for your loan using our list of recommended lenders be sure to browse their sites carefully and choose a lender that best suits all your needs and not just some of your needs.

If you have had credit problems don't let that throw you for a second. Just keep applying until you find the student loan that is the best deal for you and your future.

 

 

Best Debt Consolidation Companies and Parody Video

Got a kick out of the “Doubt consolidation” video, and the article is based on the best debt consolidation company search.

Of course, ALL financiers and brokers will claim to be the best debt consolidation company on the planet. 

The best debt consolidation companies and mortgage brokers can be found by doing a thorough search on the internet as well as consulting local banks and finance companies to fine the best interest rates as well as the best terms.

Consumers may define the best company differently. Some will give high marks for the amount of money that they will save when they consolidate their loans and debt. Other consumers define the best debt loans as loans that has the longest term and lowest interest rate, while others appreciate convenience and support.

If you are looking for the best debt consolidation company, mark down the factors that are important to you and then investigate each web site and local bank or financial institution that is in your area to evaluate each from your perspective.

The amount of money you save is generally the main criteria for choosing a consolidation company and you may want to assign more weight to this particular criteria.

Consumers can find out how much they will save by taking the best offer and comparing the new monthly payment with what you were paying prior to consolidating all of your debt into one loan.

The difference is usually the amount that you will save each and every month, provided that your new loan is actually less than what you were paying before. Most people with credit card debt or department store debt will find a big improvement in their savings.

Customers can use these savings for other things or use it to pay down your debt more quickly and avoid paying even more interest.

Parody on Debt Consolidation Companies

 

 

What's My Fico Score? Oh Dear Fair Isaac

More on credit scores of 625 and dear old Fart Issac (Fair Issac). Dear old Isaac has many different styles of Fico scores that they sell to lenders around the world.

Classic Fico Risk Scores are similiar to Classic coke, except not that sweet. These scores are the original scores that the Fair Isaac company came up with.

They basically let the lender or bank know the odds on whether or not you will be paying off your debt, or defaulting on your payments.                                                                                                                                                       

The credit grantors use the Classic Fair Isaac Score to make give thumbs up/thumbs down decisions like; do you get the boat, do you get the car, do you get the toy, do you get the motorcycle, do you get the house, do you get the shaft...........do you get the point?

They also have different names for their Fico scores. (is'nt that cute) They use Beacon at Equifax - United States and Canada. They use Emprica at Transunion United States and Canada. The same at Transunion ITC in South Africa.

For more direct information on Fair Isaac and their fico scores, or more information about a credit score of 625, you can find all of this information at www.fairisaac.com.

Related Video…

 

Debt Consolidation Services - Arizona Companies

Little piece on debt conolidation services in Arizona.

There are lots of web sites advertising Arizona debt consolidation services and bankruptcies services. If you are in need of some personal financing solutions, there are several ways to manage the existing debt and get it under control.

Debt consolidation experts can help you with your immediate problems in terms of taking all of your loans and credit cards that you currently owe money on and consolidating them into one loan with a lower interest rate and lower monthly payments. Any loan manager can assist you in Arizona or in any other state in the United States.

Once you have consolidated your debt, it is important to ensure that you also prepared to change your lifestyle to ensure that you do not get into this situation again. Customers who are unable to pay their debts usually end up in a bankruptcy situation, which can cause the customer to end up with a bad credit mark to say the least on their credit history.

It is also important to take action and consolidate your debt well before you find yourself unable to make your payments. Customers in this situation will have their credit compromised and then it will be much more difficult to obtain a consolidation loan from any of the loan companies you normally deal with.

Loan companies in Arizona will consider you a bad risk and perhaps refuse to provide you with a debt consolidation loan. So remember apply for a debt consolidation loan prior to being in a situation were you cannot make your payments.

The Different Kinds of Boat Loans Available

Good little piece on boat loans. Check out the video from Southern Ski Boats at the bottom.  

This a partial article on the different kinds of boat loans available in the United States. There are different ways to approach boat financing, and it all depends on what kind of boat you want, the money you have for a down payment, and how much (and how long) you can pay back.  

The Different Kinds of Boat Loans

Boat loans, and Rv loans, come in secured and unsecured forms. A secured one necessitates offering collateral such as a house or any valuable asset like shares or the boat itself. The guarantee of regaining of the money drives the lenders to lower their rate of interest. These loans are available for people with good or poor credits also.

On the other hand, unsecured boat loans don’t require any collateral but allot of documents are looked-for. These are best suited for persons who either don’t have anything to offer as collateral or who fear re-possession of their property. To negate their fear of salvage the money some preventive measures like a slight increment in interest rate is followed by lenders.

Getting Started On The Boat Loan Quest 

Once you have made your mind to become a boat owner, you need to give some serious thoughts before you actually go on loan hunt. These include making proper estimation of the boat you wish to acquire, how much you actually need to borrow and are you capable enough for the repayments. After you are clear in your visions, you need to approach various lenders. Lenders specializing in boat loans can be pretty handy. They are equipped with persons having a thorough knowledge about boat loans. They especially help you in dealing with second hand boats and protect you from legal embarrassment. Getting information from persons who have previously bought boats can also be helpful.

Eligibility For Boat Loans

Apart from considering the credit history (for unsecured kind of loans) lenders also look for other factors. They include your remuneration, job steadiness, ratio of other debt installments to your earnings (it shouldn’t exceed 30%), your equity in the property (for secured kind of loans) and various other conditions.

Interest Rates On Boat Loans

The amount granted under boat loans varies and depends on lenders and the repayment potential or the value of your collateral. It usually ranges anything between £10,000 to £ 10,000,000.The interest rate varies from 7.9% APR to 16% APR. The loan is available with fixed or floating rates .It depends on your discretion to choose what suits you.

The market overwhelms with lenders so sound prior information about all the nitty-gritty of obtaining boat loans will do a world of good to you.

Steve Clark can tell you how to look better, live better and breathe better by giving you tips to improve your finances.He writes on loans. His ideas can help you re-coop your money.To find Personal loan UK,secured loans,unsecured loans visit http://www.ezpersonalloansuk.co.uk

Semi-Related Video…..Southern Ski Boats…Nice!

Redneck Blows Up Appliance Because of Home Warranty Policy

Check out this video with this guy blowing up his appliance because of his home warranty debacle.  

What is a Home Warranty?
A home warranty is a policy that covers repair and replacement costs for failed appliances and systems within a home.

Who Purchases the Warranty?
This usually depends on the purchase agreement made between the home buyer and seller. Either party can purchase the warranty. The two parties can even share the cost. Regardless of who pays for it, the warranty is usually purchased during the closing process (also known as "settlement").

How Much Does it Cost?
Cost will vary based on coverage and other factors. Most home warranties are in the $400 to $600 range. When the initial policy expires, there's usually a renewal fee as well.

What Will the Warranty Cover?
Home warranties vary quite a bit. So it's important to ask a lot of questions and read all the fine print before purchasing one. With that said, here are some of the common items covered:

* Heating and cooling systems
* Plumbing systems
* Electrical systems
* Major appliances
* Garbage disposals

What Isn't Covered Under the Warranty?
It's important to understand that a home warranty is not hazard insurance. Hazard insurance (sometimes referred to as disaster insurance) covers your home in case of earthquake, fire, hail, etc. Home warranties cover home systems and appliances that fail.

How Long Do Home Warranties Last?
Most are effective for one year. After that, you have the option to renew the policy. Find out in advance how much it will cost to renew, because renewal is sometimes more expensive than the initial cost of the policy.

Should I Buy a Home Warranty?
In truth, only you can answer this question. The home buying process might drain your cash reserves, so a major repair could put you in a financial bind. In such cases, a home warranty will give you coverage and peace of mind.

Age is also a factor. An older home with systems at or beyond their life expectancy would be a good candidate for home warranty protection. But a brand new home might already have coverage provided by the builder.

If you do decide to purchase a warranty for your home, be sure to shop around and compare prices. Find out what's covered, how long the policy is, and how much it costs to renew. Be a smart shopper.

To learn more about the home buying process visit HomeBuyingInstitute.com, the Internet's largest library of home buying advice. Visit: http://www.homebuyinginstitute.com

Related Video…what happens when a red-neck gets angry with his home warranty policy.

Difference Between Payday Loans and Personal Loans

A payday loan is like a personal loan, but has some important differences.
Installment Loans - An installment loan is one where you receive the loan amount in one lump sum and then make regular, set payments until the loan is paid off.
Revolving Credit - A credit card is different than an installment loan because you can borrow less than your approved amount at first and then more later.

Also, you always have the option to borrow more money as long as there is room available in your credit line. A credit card is considered a revolving line of credit.
Payday loans are neither installment or revolving loans. A payday loan is one that is paid off in one lump sum. Payday loans are fast cash. With a payday loan, the approval process is quick and easy. But, the loan is more like an installment loan, not a revolving line of credit.

Payday loans are usually for amounts from $500 - $1000 and personal loans are usually for amounts of $1000 - $10,000.

Payday Loans are Fast Cash - Personal Loans are Long Term - With personal loans, you usually do not receive the cash fast, you usually have to go through a normal loan process, which can take anywhere from 1-2 weeks or more until you actually receive your loan amount.

The loan payments are extended for 1-5 years. With a payday loan, the entire loan amount is due within 1-4 weeks.
Understand your cash needs to determine whether you need a fast cash payday loan or a personal loan.

Ditty On Debt Consolidation

Misconceptions On Debt Consolidation

One of the biggest misconceptions is that you are better off seeking a loan with a bank in your own town, city, county, or state. Due the ever changing Internet, you can now find better deals with just a few mouse clicks. You can apply for your financing online and be approved securely and quickly no matter where you live.

Most Debt Consolidation Lenders

Most lenders will only approve consolidations if you have a house or some kind of collateral. If you just need a cash loan to consolidate all your credit cards and line of credit (without giving up home equity) click here. It makes sense to wrap all your debts in to one big debt, lower your payments, and ease your stress. I wish I had made the decision to consolidate sooner. It would have been much easier all around.

Biggest Advantage of Debt Consolidation 

Probably the biggest advantage you get when consolidating is getting rid of high interest credit card debts. When you do the math it becomes quickly apparent that clearing off all your bad credit card debts (and that includes department store cards and fuel cards) is not something you need to think about....it's something you must consider doing right away.

Once you have done the math and added up the interest you are actually paying every month on your debt you will likely realize it is time to consolidate. Now you need to find a low interest rate on your consolidation loan...... That's where I come in. I provide free information regarding consolidation loans and research this area of the financial market vigorously. As I research different lenders and their policies it becomes very apparent as to which loan providers to recommend. I generally post all the recommended online companies at the bottom of this page.

Once You Choose Your Online Debt Consolidation Company

Once you have chosen your online lender you can enter your information and get their quote very quickly. If for some reason you don't like their interest rate or terms, move on to the next. Entering your information online is secure and safe. The new encryption these these web sites use is impossible to hack or access so you don't need to worry about that.

You came to find information and consolidate your debts. Your present debtors will be disappointed when you step up and clear off all your high interest rate debt. ;-) To consolidate your financial liabilities is a great start but the most important issue is what happens in the future.

Debt Consolidation Conclusion

Once you have the your monthly payments down and your cash flow up you want to keep it that way. In fact you want to eradicate your debt completely and increase cash flow. I suggest looking for ways to build wealth outside the box. What I did years ago was make a decision to never carry bad debt again. That was it. No more credit card debts, department store cards, fuel cards, and whatever other credit cards you can think of. I consolidated all my debt in to one low payment and then changed my hobby. For my whole life my hobbies COST me money. I decided that my next passion or hobby would be something that MADE money. I begin with building this financial information web site. That led to this loan consolidation page and then to many more.

The first step to financial recovery and a sigh of relief starts with a consolidation loan. The second and most critical step is changing your lifestyle and spending habits. The first step (getting your debts consolidated) is extremely easy. The second step is the difficult one. I wish you all the best in the future and be sure to bookmark this page for future reference. Thanks for visiting.

Related Video on Debt Consolidation