Fri, 06 Jul 2018 12:24 IST
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The Prelude to Unmanageable Debts

Although everyone may think that they have a unique story of how they ended up with unmanageable debt, analysis show otherwise. People in credit rating have identified two patterns in which debt usually builds up. An understanding of these patterns can help you avoid the situations. The analysis is as … [Read more...]

High Cost of Not Maintaining Credit

Credit bureaus consider absence of information similar to having bad information. Hence the only way to lead a good life is to ensure financial discipline throughout your life. Here is why opting out of credit or having a bad credit is not a viable option:Expensive Mortgage: Nowadays, almost every American … [Read more...]

Reading A Credit Report

The law entitles you to obtain a copy of your credit report every 12 months. You are also expected to read it and ensure that the information is accurate and that your case is not being misrepresented. Since credit score is such an important part of everyday life there are agencies that have been formed … [Read more...]

How People Use Credit

Lenders are known to analyze your credit behaviour and put you into categories. This notion comes from the fact that there are a few broad ways, in which most of us use our credit. Here is a list of few behavioural types. Transactors: This is the type of credit usage that most people intend to do. The … [Read more...]

How Credit Reporting Works

Our society lives and thrives on credit. There are more and more lenders offering loans to different people. Many of these loans, such as credit cards and personal loans, are unsecured. This means that the lender is offering loans based on the reputation of the borrower rather than the number of assets … [Read more...]

Common Fallacies about Credit Scores

Although credit scores have been around for quite some time, it is astonishing to see the number of fallacies that a layman has about them. This article will provide correct information for some of the Frequently Asked Questions (FAQ … [Read more...]

Understanding Home Equity

Building equity into your home is one of the best ways to build wealth. In fact, many Americans are now planning to retire with the help of reverse mortgage, now that the social security and welfare system are almost bankrupt. It is important for a new investor to understand what home equity is and how … [Read more...]

Understanding Amortization

When you borrow money for buying a home or for any other purpose, the loan is amortized. It is important to understand the loan schedule that the bank provides you. It is not just another document amongst a heap that is generated while taking a mortgage. It is the single most important document while … [Read more...]

Procedure of Obtaining a Mortgage

Procedure of obtaining a mortgage is lengthy and involves many parties. A well informed buyer is more likely to make the correct choice. Here is the procedure: … [Read more...]

Qualifying For A Bigger Mortgage

A bigger mortgage may not always be the most financially prudent decision. Factors that a lender considers while giving a loan are as follows:Stable Income: Most lenders will look at your income over a certain period of time. They are more interested in looking at your stable income. For salaried personnel, … [Read more...]