Guaranteed Student Loans in New Mexico?

Letely, I’ve been listening to a bunch of noise regarding students looking for a guaranteed student Loan program in New Mexico. Finding a guarantee is a pretty tough call you know. I would think that there are not that many banks in New Mexico that provide for such a deal.  

Why this is a hard loan to find in New Mexico?  Simple. The banks are really tightening up on giving bad student loans, and the Feds have weighed in with some new rules on lending practises.

Provided here is a site that gives guarantees student loans in New Mexico. This is what the do: If for some reason you don’t find the student loan you need, you get your money back for their service. It doesn’t cost allot anyway, but at least you can check it out for yourself.   

Happy trails!

Retirement Calculators For Those That Can't Spell

Got a kick out of this little ditty over at Lazerloan.com. Do you think he spelled retirement wrong on purpose. Retirment. Who knows…might work for them. Hmmm.

Retirment calculators are a very popular piece of scripting online. Millions of Americans are using these online calculators to figure out what they’ll have left in the bank when they’re approaching the golden years.  

Loanallot.com has made their opinion crystal clear as to what retirement calculator they recommend. Here is their snippet below. (I get a kick out
of their web site theme……Lancelot/Loanallot…..now that is CHEESE my friends.

I did a little research on retirement calculators, and I have to give the edge to this retirement calculator in particular. This is the CNN retirement calculator.

Here are the instructions they give for using their calculator:

“Our retirement planner helps you estimate how well your savings program is preparing you for retirement. First we help you figure out how much you'll need. Then we tell you your chances of getting there. And if it looks like you'll fall short, we offer some suggestions for improving your plan.” 

Have fun playing with that for awhile. I learned one thing for sure, and that’s that I need to start saving some money in better places if I hope to retire with a pot to piss in.  

 

One Million Dollar Ding For Bad Credit?

Found this interesting on Yahoo!. An article that claims consumers can lose up to $1,000,000 over their life-time if they have bad credit. They have some numbers to back up the claim to. It’s really just simple math.

Here is a short quote from their full article, that covers just the mortgage side of a bad credit loss over time. 

• You probably are well aware that a poor credit score costs you money, but you probably are not aware how much that can add up to over time -- sometimes well over $1 million.


• For people with poor credit, the additional money they'll pay for things like mortgages, car loans and insurance, compared with what those with solid credit pay, can be in the mid-six figures over a 30-year period. Invest it wisely, and that number could soar to more than $1 million.


• Here is how poor credit costs you in more ways than you imagined:


• Mortgage: One obvious place that poor credit hurts you is the interest rate you must pay when you purchase a house. The average price for a home in June 2007 was $316,200.


• According to MyFico, a 30-year, $300,000 loan for someone with a credit score of between 760 and 850 carried a 6.346% APR. Someone with a credit score of between 500 and 579 would have a 10.152% APR. That would mean that a person with a good score would have a monthly payment of $1,866, while the person with the poor credit score would pay $2,666 -- or $800 a month more for the same house. That adds up to $288,000 over the 30 years of the loan.

Pretty scary thought right. Losing that kind of coin over time. I just got my credit rating back after being bankrupt for 7 years, so I won’t be taking any toy loans for a long while. 

Loans For Bridesmaid Dresses?

I had the most unusual email the other day. I had someone ask if we could point them in the direction of a site that gave loans for wedding dresses, in particular a loan for a bridesmaid dress order.

I told them that we didn’t find people loans for wedding dresses, and bridesmaid dresses – that we could help her with a car or motorhome, student loan, car loan, and/or motorcycle loan, but not wedding dresses.

I suggested they use Google and find what they needed there for wedding keywords.

Hmmmm…..what next?  

Searching for Debt Consolidation Companies

You want to be thorough when you ou are out there looking for a good debt consolidation company to help solve your financial woes.

Make sure they're on the up and up. Make sure you are dealing with trustees, or financiers, that have a long and solid track record, before you sign ANY of their contracts.

If you're self-employed you will most likely have to use your home for collateral, since the banks prefer people who have steady, well paying jobs over entrepreneurs.

There are other companies that will help you manage your debt without having to use another loan. These companies usually charge you a fee and then help negotiate lower interest rates with your creditors and manage your monthly payments. There are various ways to do this and every company is different. Usually these techniques will save you money to start paying down the principle on your credit balances.

A few of these outfits are "sometimes" worth the monthly fee, and you'll end up saving way more than they charge you overall. However, some of these trustees are a little slimy, and they're out to make money by holding their client's cash for collecting interest as long as they can before they make the payment on your behalf. Very slimy indeed.  

If you need to consolidate credit card debts, or any other kind of debt for that matter, it can be a real puzzle trying to sift through all the manure online. You may be able to qualify for an unsecured loan, which can consolidate your debt with one monthly payment, and never have to use any hard collateral.