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NACA Announces Unprecedented Mortgage Incentive Program for Detroit Homebuyers

Two abandoned Detroit homesThe path to home ownership is often a challenge for those in regions that have experienced egregious economic turmoil since the housing market bubble burst in 2008. Adding a less than perfect credit history makes the process an even greater impediment for some families, where the need to bring a hefty down payment to the closing table is standard. In an unprecedented move, the Neighborhood Assistance Corporation of America (NACA) is bringing hope to prospective home buyers in Detroit, Michigan, through a program intended to tear down the hurdles that stand in the way of home ownership.
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Posted on May 18, 2015 by Melissa

Suncoast CU (FL) Offering $200 Auto Loan Rebate

Suncoast Credit Union logoOne of the biggest financing decisions we have to make consistently every few years is the purchase of a new or used vehicle. While the majority of dealerships offer financing options with extended repayment terms and close-to-market interest rates, often qualified borrowers can obtain more favorable auto loans through a bank or credit union. One such credit union is making financing a new or used vehicle more attractive to buyers by offering an extra perk.
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Posted on May 12, 2015 by Melissa

The Process of Getting a Life Insurance Policy

Pen and glasses resting on life insurance policy applicationOnce you have determined what type of life coverage is most appropriate for your situation, it is important to understand the process of applying for and accepting a life insurance policy. Knowing what to expect as far as the application process, and role of an underwriter as well as how to access cash value balances can reduce the amount of stress and confusion that can come with taking out a life insurance policy. Let’s begin with the application process.
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Posted on May 4, 2015 by Melissa

Burial and Final Expense Insurance

Senior couple sitting on bench by oceanAs an alternative to more traditional permanent life insurance policies, burial insurance, also known as final expense insurance, can be an option for some individuals. These policies are much smaller in face value, as their purpose is to cover expenses related to funeral and burial services for the insured. Generally speaking, a burial or final expense policy will provide a death benefit of up to $30,000 of permanent insurance for individuals between the ages of 50 and 85. There are, however, some insurance companies that provide this type of policy to individuals younger or older, but the costs will vary substantially, and they may also include a waiting period or a reduced benefit.
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Posted on April 27, 2015 by Melissa

Hybrid Policies – Variable Universal Life Insurance

Insurance for life written on keyboard keyYet another option for permanent life insurance and arguably, the most flexible type of policy is variable universal life insurance. As its name states, this type of coverage combines the benefits and features of both variable life and universal life coverage, and varies from comparable permanent contracts by way of death benefit coverage, premium payments and cash value accumulation. We’ll begin the review of variable universal life with its death benefit coverage options.
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Posted on April 20, 2015 by Melissa

Municipal Credit Union (NY) offering 2.99% Secured Personal Loan

Municipal Credit Union logoUsing a secured personal loan to finance some of life’s major purchases has its advantages over traditional, non-collateral financing. For individuals who have an amount accumulated within a savings or money market account, some financial institutions allow you pledge that account as collateral for a low-cost, fixed term personal loan. The bank or credit union is able to offer a lower cost for this type of financing because the total loan amount is secured by other assets, reducing the financial institution’s risk of default. It is beneficial to borrowers because funds can be used for a vast number of financing needs, including debt consolidation or a new vehicle purchase. This lending strategy is also helpful for those who have less than perfect credit, or a short credit history.
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Posted on April 13, 2015 by Melissa

Hybrid Policy – Equity Indexed Universal Life Insurance

Hand holding life insurance in bagUnder the umbrella of permanent life insurance, there are a handful of hybrid or combination policies that marry the benefits and features of multiple types of cash value contracts. Equity indexed universal life insurance is considered a hybrid of traditional universal life and variable life, and varies from other policies by way of death benefit coverage, premium flexibility and cash value accumulation. Let’s begin with a review of equity indexed universal life death benefit provisions.
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Posted on April 6, 2015 by Melissa

Variable Life Insurance – Explained

Life insurance policy on manila envelopeAs another alternative under the category of permanent life insurance, variable life offers policyholders a wider range of options for coverage than whole or universal life. Although this type of permanent policy may provide the insured the most flexibility in terms of death benefit and cash value investment, it is also easily misunderstood. In order to fully understand if variable life is an option for you and your family, it is important to have a grasp of each of its working components, including the death benefit, cash value accumulation and investment, cost and flexibility of premiums and common use. We’ll begin with how the death benefit works in comparison to other permanent policy types.
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Posted on March 30, 2015 by Melissa

Tropical Financial Credit Union (FL) offering 1.48% Auto Loan

Tropical Financial Credit Union logoPurchasing a new car takes patience, especially as it relates to finding the right financing. Although dealerships often offer buyers special deals on repayment terms and rates, it is generally a good idea to check with your financial institution to compare your auto loan options. With rates at historic lows, buyers have the upper hand in obtaining an auto loan that is affordable for the long-term through their bank or credit union. One current offer from Tropical Financial Credit Union for those who are in the market for a new vehicle is worth considering.
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Posted on March 23, 2015 by Melissa

Universal Life Insurance – Explained

Life insurance agent parachutingIn our last article we discussed the various aspects of whole life insurance and how each may benefit an individual shopping for permanent coverage. Another type of life insurance under the permanent category is universal life, which can be more complicated than its whole life sister. In order to make the best decision for you or your family, knowing how universal life differs from whole life and other types of permanent coverage is important. Here we discuss universal life policy death benefits, how cash value accumulates, the cost and flexibility of premium payments as well as common use. Let’s begin with the most pressing factor of coverage – the death benefit.
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Posted on March 16, 2015 by Melissa

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  • Credit Card Rates

    Card TypeAverage APR
    National Average:14.99%
    Low Interest Rate:11.62%
    Business:12.85%
    Student:13.14%
    Balance Transfer:14.13%
    Airline:15.10%
    Reward:15.12%
    Cash Back:15.26%
    Instant Approval:17.93%
    Bad Credit:22.73%
    National Average:14.99%
    Low Interest Rate:11.62%
    Business:12.85%
    Student:13.14%
    Balance Transfer:14.13%
    Airline:15.10%
    Reward:15.12%
    Cash Back:15.26%
    Instant Approval:17.93%
    Bad Credit:22.73%
  • Mortgage Rates

    Courtesy of erate.com