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Before You Sign: Is Your Lender Credible?

December 30, 2010 - Kristin - 1 comment

Borrowing money, even a small amount, puts our financial future at stake. After all, we are agreeing to owe money for some period of time into the future. And not only is it important to have our finances in order, with an expectation to pay the loan back; it’s also important... Continue reading »

Borrowing From Your Retirement Plan: Taking a Loan From Your Future

December 2, 2010 - Kristin - 1 comment

Your retirement plan is a nest egg for your future, a way to avoid becoming a burden on your family in your old age, and a strategy to reduce your tax bill.   But should it also be an easy source for a loan?   You may not have known, but some retirement plans allow... Continue reading »

Is an Auto Lease Right for You?

October 14, 2010 - Kristin - 0 comments

If you’re daydreaming about a flashy — or even just functional — new car, you are probably also daydreaming about not having to pay for it. Maybe you could win a car from Oprah, or on “The Price is Right.” Or maybe you could at least get a gently-used hand-me-down from a... Continue reading »

Speaking the Language of Loans

September 23, 2010 - Kristin - 1 comment

So you’re not independently wealthy? You don’t have tens or hundreds of thousands of dollars laying around for that flashy new car or home of your own? Welcome to the club — the “I need a loan to make a big purchase” club. And as a smart member of this club, you may want to do... Continue reading »

PITI: Understanding Your Mortgage Payment

September 9, 2010 - Kristin - 0 comments

That may be a big payment you’re making every month, but at least it’s not going to rent anymore. It’s going towards your home, right?   Well, not exactly. While it’s true that your mortgage payment is the payment on your home loan, this payment is actually made up of... Continue reading »

When Borrowing Goes Bad: How to Resolve Debt Issues with a Creditor

August 26, 2010 - Kristin - 0 comments

Your phone won’t stop ringing and you’re having nightmares about the nasally voice of the debt collector. You want to discuss charges you’re seeing on a loan that you have no memory of agreeing to, but the customer service agents just put you on hold until you hang up. Or you... Continue reading »

Payday Loans: A Payday for the Lender

August 17, 2010 - Kristin - 0 comments

The unexpected car repair. The phone bill for texting a little (or a lot) more than you thought you did. The rent that came due before you were ready. We’ve all experienced a financial moment or two we weren’t prepared for and had to think about our options.   One option... Continue reading »

What is FICO?

August 12, 2010 - Erika C. - 0 comments

FICO is a publicly-traded corporation that created the most widely used credit score model in the United States.   FICO scores are calculated statistically using information from a consumer's credit files. It provides a snapshot of risk that banks and other... Continue reading »