Archive for May, 2010

by Nick Bastian Tempe, AZ

Question by Zapp Brannigan: Why would Classical Liberals be FOR government assistance to people who can’t pay their home mortgages?
I have a list of reasons why they would be against the idea (limited government intervention, Laissez-faire, current banking crisis), but would there be any reason why they would be for it? This was a repost an hour ago and again I greatly appreciate for the help in advance.

Best answer:

Answer by dlk
It is the “nanny state” they have grown up to believe in. Sad, sad, sad. Those who can’t pay, should have never gotten a mortgage to begin with. I must add, that does not include those that have tragically lost their jobs in this economy. I remember when one HAD to put at least 20 percent down before even being eligible for any mortgage.

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Question by rose: Should I take a home equity loan to pay off the 17,000 in medical bills I have?
I got these medical bills from a recent surgery and its causing a huge financial strain on me. I make enough to live comfortably, but not enough to live comfortably and pay this incredible amount of money every month. I am just wondering, since interest rates are so low right now, is it the right time to take out a home equity loan?

Best answer:

Answer by Rick B
Why would you transfer an unsecured debt into something that could result in the loss of your home if you default?

A payment is a payment. Make the payment to the hospital, not to your mortgage lendor.

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by Center for American Progress

Question by Suzie: Good site to compare home equity loans rates?
Is there one site where you can easily compare interest rates?

Best answer:

Answer by stan c
Just go to bankrate.com

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by Chris Devers

Question by Dana: Where can I get a no credit check student private loan?
The title says it all, I need to find a place to get a no credit check private student loan for living expenses.

Best answer:

Answer by Found-1
No such thing. Sorry.

What do you think? Answer below!

Question by tricksdrummer: How do you limit the pressure coming from a CO2 gas cylinder?
Thinking of strapping a larger cylinder to my back (for paintball) and put some kind of screw on thing to limit the pressure to a set value, not by a tap that can be knocked… Cheers guys

Best answer:

Answer by mechnginear
it is called a regulator

What do you think? Answer below!

Question by Vicki T: Can I get a cash loan with income from student loans and grant money of 0.00?
I am attending community college and will not receive my funds until after August 13th and am low on money for rent and utilities for July due to an unexpected legal fee.

Best answer:

Answer by STEVEN F
Student loans ans grant money ARE NOT income.

What do you think? Answer below!

Check out these credit images:

Small Waterfalls Forks of Credit

Image by Bobcatnorth

Question by DC94: Quick cash loan….?????????????????
Whats a good place to get a quick cash loan for about 200 bucks. I just need about 200 bucks til next friday and i can then pay back that 200 bucks. I was checking out a place called EZ loan and for 200 bucks it like a 60 buck fee. Whats a good place to get a 200 dollar loan?

Best answer:

Answer by Judy
Are you really thinking of one of those pay day loan places.
Did you know that my state put a cap on how much interest they can charge and they’ve been closing down.
The cap is 430%.
Do you want to pay back that much interest?
/

Give your answer to this question below!

Question by Landon Parks: No Credit auto financing?
Ok, I’m 19 years old, live with my family, have an active checking and savings account. I work as a General Manager at LP Cleaning Service and make ,500.00 per month before taxes.

Heres the trouble though, I have no credit history and no co-signer. I’m wanting to get approaved for the 2008 Mitsubishi Lancer (total loan needed ,000).

I found this place online (www.fundingway.com) that says as long as I make ,500 a month, im at least 18 and have not filled bankrupsy that I qualify for an auto loan. When I filled out there “Loan Calculator”, it told me I qualified for ,000 in financing.

Should I even bother filling out the application? do you think I would be approaved?

I only have maybe 0 at most for a down-payment, which may pose a problem.

Thanks!

Best answer:

Answer by may25
Be careful for some online sources they are fraud, and a 0 down payment isn’t much even if you have perfect credit.

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by woodleywonderworks

Question by furball: Refinance a non-recourse loan in california?
Is it true that in california, if I refinance a non-recourse loan (origional first and second mortgages I obtained to purchase a house I currently live in), the loan stays as a non-recourse loan, if I only refinance the balance of the loan, without taking cash out, or adding more things (like car payments) on the loan? Refinanced loan will combine the first and second mortgage into one. What about the closing cost, title insurance, escrow, etc, that will be added on the refinanced loan, does that effect the loan to change from a non-recourse loan to a recourse loan, since more things are added to the orignal loan balance from the first and second mortgage? Will refinance paper work state that it’s a non-recourse, or a recourse loan? If it doesn’t spell out on the paperwork, how can I be sure that it stays as a non-recourse loan?
Advanced thank you for any answer provided!

Best answer:

Answer by reena r
I think no

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by Chris Devers

Question by tee tee: what’s the catch with the instant money loan?
come in with your last check stub and get money the same day. I know credit should be one.

Best answer:

Answer by timmytoes
THe real deal is the interest. These loans are not controlled by the feds like many other loans & some can charge up to 300% APR. They are not good loans to take.

What do you think? Answer below!

by seiuhealthcare775nw

Question by missjuly08: How often does credit score/rating start over?
I got my first credit card at 18, I’m now 24. In another year will my credit rating start over? I thought I had heard that from someone before. Is it just the credit I accrued when I was 18? Suppose I got another credit card at 21, does that one stay on for 7 years or is that one “erased” too?

Best answer:

Answer by spalmer
I’m not sure I understand… your credit score never starts over, unless you assume a new identity (new social security card, new name, etc.). A large part of your credit score is your credit history (they look for 10-15 years minimum). I think you’re thinking of negative items on a credit report. For instance, bankruptcy, foreclosure, etc. fall off about 7-10 years after they occur.

Give your answer to this question below!

by KitAy

Question by TinMan: Are there any secrets to getting low interest rates on home equity loans?

Best answer:

Answer by oncameratalent
Obviously, the higher your FICO score (credit rating) is, the lower the interest rates that financial institutions will offer you. However, there are some “tricks” you can utilize to obtain the lowest possible rates for your situation. This blog was developed to help consumers understand the loan approval process, and to advise how to take advantage of this process….

http://lowertheinterest.blogspot.com

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by G0SUB

Question by moon_maiden42: What would you choose as a reward for referring friends to my massage business?
I work as a massage therapist where we encourage referrals. When you refer a friend and they join our massage club you recieve a free hour massage…we want to make a 10 punch card for these referrals. So when it’s full and your 10 friends have joined, what would you think of as a great reward for a full card? We’ve thought of a few ideas, but I need more. Gift certificates? Free dinner at a restaurant? Help, need some more brains on this one!

Best answer:

Answer by Martina L
A hamper of beauty products and health stuff like wholemeal food, herbs etc… the total value of the products should be more than 1 hour massage.

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Question by Andrew H: If I have a balance on a card of ,000, 9.99% APR, would it look better to get a debt consolidation loan?
I want my credit to still stay above average, but I cant afford to pay ,000 monthly payments to get rid of the balance fast, should I get a personal debt consolidation loan for 36 months instead?

Best answer:

Answer by Lauren F
If you want to get rid of this fast, then taking a 36 month loan doesn’t make sense, even if you could get a lower interest rate. That long length of time will cost you a lot in interest.

I would look for a 0% balance transfer card (see the website www.fivecentnickel.com for suggestions) and transfer it to 0% card, preferably for 12 months. Then, if you pay 0 a month for the 12 months, it will all be paid off and you will not owe any interest. Research this plan carefully though. It only works if you make the payment every month on time. If you miss even by one day, the cc company will jack your interest rate up to a horrible amount.

What do you think? Answer below!