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How To Qualify For A Mortgage Before Your Divorce Is Final

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It doesn’t necessarily matter if you have stellar credit and earn a high salary. If you’re going through a divorce, it may be a bit tougher—although not impossible—to qualify for a mortgage loan. Like any borrower, a lender will consider your ability to pay the monthly mortgage payment. Therefore, until you have a divorce agreement clearly outlining your financial responsibilities and the division of your marital assets, you may have to look for other ways to qualify for a mortgage loan. Read More»

Should You Take A Second Mortgage To Pay College Tuition?

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If your teen is about to graduate high school and enter college, you may wonder if taking a second mortgage would be a good option for paying the teen’s tuition. While this is not always a good option, it can be in some cases; however, you must make sure you have enough equity in your home before you consider using this option. Here are several factors to consider that would make this a good option if you need cash to pay for your child’s tuition. Read More»

Long-Term Personal Loan: Another Option For Financing Debt

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If you need cash to fund a major purchase or project, give you working capital for your business, or consolidate several short-term loans into one, a long-term personal loan is a financing option to consider. Although the interest rates and repayment periods available differ among lenders, long term loans allow you to borrow a larger amount of cash and pay it back over a longer period of time. In addition to a longer repayment period, a long-term personal loan offers several additional advantages. Read More»

Want To Buy A Home? Two Tips To Help You Get There

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If you’re like many people, buying a home is something that you dream of doing. Owning your own house gives you the chance to decorate, fix up, and modify the structure in a way that makes the home uniquely yours. However, before you can get a house, there are certain things that you must do. It’s important to make sure that you have things in place that can make you a sure risk for the mortgage company. Read More»

4 Things You Should Have Ready Before You Apply For A Home Loan

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If you are a first time home buyer, you may be wondering what will be expected of you to purchase a home. It used to be much more flexible to get approved for a home loan, but now there are more regulations, and because of that, you will need to show more documentation and proof to get the loan. However, being prepared can be one of the best things to speed up the process and improve your changes of getting approved for the loan. Read More»

3 Tips for Getting a Better Rate on Your Mortgage

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Many homeowners focus on their overall home buying budget without paying much specific attention to their mortgage rate. This is unwise, however, since even a slightly lower mortgage rate can make your monthly mortgage payment more affordable and add up to significant long-term savings. Here are three tips for getting a better mortgage rate: Consider Paying for Points Your mortgage company may offer a program that allows you to pay for a point reduction. Read More»

Your Guide to Getting a Hard Money Loan for Flipping a House as a New Investor

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If you have recently decided to buy a house at a low price that needs some work, provide the work it needs, and then sell it at a higher price, it is important to note that one popular option for financing your first attempt at flipping a house is a hard money loan. Since the terms of a hard money loan require significant collateral and come from a private lender instead of the bank or credit union associated with many other types of loans, the terms can vary tremendously from one transaction to the next. Read More»

Four Things You Should Know Before You Sell Your Unwanted Gold

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If you have gold that you no longer want and would like to sell for quick cash, there are a few things you need to keep in mind before you start looking for a scrap gold buyer. You may need an appraisal for jewelry If you are selling old jewelry that is only gold, it is likely to only have value because of its gold content. However, if there are any gems in the jewelry, especially rings and necklaces, you should have an appraisal done. Read More»

Payday Loans and APR: What Borrowers Need to Know

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In the media, payday loans are often cited as having extraordinarily high annual percentage rates, or APRs. This is true. The average APR on a payday loan often approaches 400%. When you compare that figure to the average APR on a traditional credit card—which is typically lower than 30%—payday loans seem like a losing investment for the borrower.  However, as it often is with statistics, the APR on a payday loan is extremely misleading. Read More»

How Could Changes To Minnesota's Payday Lending Laws Affect You?

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If you’re a resident of Minnesota and sometimes have trouble floating large expenses that hit between pay periods, you may have already taken advantage of the short-term, high-interest loans offered by payday lending companies. Indeed, these loans are available for nearly any borrower with a job – regardless of credit history – and can provide you with cash in hand the same day you apply for a loan. However, efforts to reform the payday lending industry in Minnesota have placed limitations on these loans that are not often seen in other states. Read More»