Latest Finance Articles and Promotions

5 Crushing Consequences of Student Debt

Young woman carrying heavy box of debt walking along gray wallMany economists are arguing that student debt is the new financial bubble we should all be worrying about, with ominous consequences in store for the economy at large, and certainly for individual debtors.

Before deciding whether to add your name to the 44 million Americans collectively owing $1.4 trillion in educational debt, consider these five crushing consequences of excessive student loans.  These consequences won’t apply to every individual with a loan.  But they’re very real risks (and agonizing ones to fall prey to) so beware.

Posted on August 16, 2017 by Devin Trim

Santander Bank offering Home Equity Line of Credit with 2.49% Introductory APR for 6 Months

Santander Bank logoBeing a homeowner comes with a slew of perks, not the least of which is the potential to build wealth over time. As the mortgage balance is paid down and market value increases, individuals who own their home accumulate equity. Borrowing against that value through a home equity line of credit (HELOC) can be a smart method to finance larger expenses, especially when interest rates are low. Paying for college tuition, a home remodel or renovation, and consolidating high interest rate debt can all be done efficiently and affordably with a home equity line of credit. View offers from multiple mortgage lenders.

Posted on August 15, 2017 by Melissa

The Process of Buying a Mobile Home

White single-wide mobile home on land lotThere are several reasons a prospective homebuyer may consider purchasing a mobile home as opposed to the traditional, single-family home. Mobile homes are portable, making them a breeze to relocate to a different city or state, and they are considerably less expensive even when adding in the cost of the land on which they sit. But the process of buying a mobile home differs from that of a conventional residential property. Before making the decision to purchase a mobile home, here’s what you need to know.

Posted on August 14, 2017 by Melissa

5 Stellar Tips to Save Big on Motorcycle Insurance

Blue motorcycle and car accident on paved streetNext to a car, a motorcycle is one of the biggest expenses you’re likely to take on in your lifetime.  Between juggling fuel, repairs, and accessories, you don’t need to be spending a cent more on motorcycle insurance than is absolutely necessary.  Check out these 5 stellar tips to save big on insurance for your bike today.

Posted on August 11, 2017 by Devin Trim

Defaulting on Your Student Loan? What Your Need to Know

Young woman student worried over unpaid bills and student loanKeeping up with student loan debt is a financial hurdle millions of borrowers face each year. With more than $1.3 trillion owed collectively among more than 40 million borrowers, it is no surprise that student loan default is a hot topic. Failing to pay student debt on time each month can have drastic effects on multiple facets of your financial life, not only in the immediate term but for a number of years to follow. Whether it’s federal student loan debt or private, here’s what you need to know about student loan default and a few strategies to avoid it.

Posted on August 10, 2017 by Melissa

First Citizens Bank offering HELOC with 2.74% Introductory APR for 12 Months

First Citizens Bank logoCountless homeowners use the equity in their homes to fund some of life’s major expenses, like paying for college tuition for a child or grandchild, completing a home renovation or remodel, or consolidating high-interest debt. While a home equity line of credit can be a smart way to achieve these financial goals, homeowners should be sure they are receiving the most affordable home equity product available, so it’s always a good idea compare home equity line of credit offers from multiple lender. Home equity lines of credit which carry low interest rates for a set period give homeowners the upper hand when borrowing against the value of their homes to cover large expenses.

Posted on August 9, 2017 by Melissa

How Billions in Student Loan Debt May Soon Disappear

Pencil erasing the phrase student loansYou’d be hard-pressed to scroll through any major news outlet without seeing a story about the growing student loan debt crisis, and for a good reason. Over the last five years, the average student loan debt owed by graduating college students has risen 15%, resting, for now, at a little more than $32,000 per borrower. For a sizeable portion of the 43 million borrowers paying back student debt, their total balance due reaches a staggering six figures – a financial pill that can be difficult to swallow each month. While there are several methods to reduce student debt payments in an effort to lessen the blow to cash flow month to month, the burden of student loans is a long-term plight for many.

Posted on August 7, 2017 by Melissa

Does Debt Consolidation Help or Hurt Your Credit Score?

Woman writing word debt on notepadWhen high interest rate debt like credit cards and personal loans take hold of your financial life, it can be difficult to manage multiple payments and accruing interest each month. Through debt consolidation, you have the opportunity to combine multiple debts into a single, fixed loan that carried predictable monthly payments and often a lower interest rate than credit cards. While a debt consolidation loan is helpful in terms of money management from month to month, many wonder if there is an impact on their credit score in the process. Here’s how debt consolidation affects credit in both the short and long term.

Posted on August 4, 2017 by Melissa

Prosper Personal Loans: Approval, Interest Rates & Fees

Prosper logoIndividuals can utilize personal loans for a myriad of purposes, including refinancing higher interest rate debt, filling in a short-term cash-flow gap, funding major expenses like medical bills or home renovations, or starting a small business venture. Prosper is a viable solution within the personal loan market due to its unique crowdlending platform that connects willing funders with borrowers in need. Prosper offers personal loans up to $35,000 with interest rates that are slightly less than those made available through conventional bank channels, and the process to apply and secure funding can be less burdensome. It is important to note that not every borrower is the best fit for a Prosper loan, however.

Posted on August 3, 2017 by Melissa

Prosper Loans: Products Offered and How it Works

Prosper logoTouted as the first peer-to-peer, or marketplace lender, Prosper Funding LLC (Prosper) was established in 2006 and is currently headquartered in San Francisco. The company strives to provide individual consumers with a different method to obtain financing for life’s expenses, far removed from the traditional bank lending landscape. Prosper focuses on making lending both simple and affordable by allowing individuals to connect with investors who are willing and able to fund personal loans, facilitated through the company’s online platform. Prosper serves more than 2 million members and has successfully funded more than $5 billion in loans.

Posted on August 1, 2017 by Melissa