You Deserve a Luxurious Vacation…Let Me Finance It For You
Today, I receive an email from CitiFinancial. This isn’t rare, being they send email to current and past customers at an annoying frequency. As you can tell from the text of the email (pasted below), Citi is offering a loan in order to finance a vacation. We all know financing a vacation is a horrible idea, [...]
Pay Off Your Mortgage By Age 65
Being a recent first time home-buyer, my final mortgage payment is comical to think about. And this is exactly why many people don’t think about actually paying off their mortgages, ever. The Washington Post recently reported that, “more than 55 percent of boomers who have mortgages do not plan to pay their mortgages off until [...]
Prosper.com Concerns
Prosper.com has some interesting notions to it that make it unique in the borrowing/lending market. If you have some extra money, you can lend it out and make a return (hopefully) or if your credit is bad, you can get a loan for a badly needed loan that you might not get otherwise, due [...]
Top Financial Leader Thinks Second Wave of Foreclosures Coming July 1
“We have a wave of foreclosures coming after July 1, which may make the first wave look small by comparison.” – Sen. Christopher Dodd (D-CT)
Earlier this week, Senator Christopher Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, expressed his less than enthusiastic financial forecast for the coming months during a Securities [...]
How Much Were Your Closing Costs?
Do you remember closing on your first home loan? You sit down in a small room with your realtor, the seller, the seller’s realtor, and a title agency. The agency plops a huge stack of documents in front of you and one by one, you sign your paychecks away. If you are [...]
Trading in For a Hybrid Could Be Costly
With gas prices averaging close to $4/gallon, many car owners are considering trading in their gas hogs for a hybrid vehicle. Hybrids of course have the potential to get upwards of 40 miles a gallon (mpg), versus the 15-25 mpg that many of us get with our current vehicles. The savings with the [...]
Peer to Peer Lending at Prosper.com, Is it Worth the Risk?
Prosper.com is a peer-to-peer (P2P) lending website, which allows individuals to either borrow money from other members of Prosper, or invest to those seeking loans. Yes, you did hear that correctly. It does not surprise us that there is yet another way for people to borrow money and more likely, fall deeper in debt. However, [...]
