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Posts Tagged ‘LOANS’

Shortening loan terms

LOW interest rates are making it easier for homeowners to reduce their mortgage payoff times considerably. Almost a third of those who refinanced in the first quarter cut the duration of their mortgages to 15 or 20 years from 30, according to a recent refinancing report by Freddie Mac. The 31 percent who shortened their terms represented the second-highest level since 2002, when 35 percent took out shorter-term loans, the data showed. In the fourth quarter of 2011, 34 percent had reduced their mortgage terms. The all-time high occurred in 1992, with 42 percent refinancing into shorter mortgages.

June 14, 2012 Tags: HOMEOWNERS, INTEREST rates, LOANS, MORTGAGES
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Dispute over bill on borrowed art

The lending and borrowing of famous artworks is the essence of cultural exchange between museums in the United States and abroad. So routine is the practice, and so universally valued, that the American government has traditionally protected it with a law that shields a lent work from being seized by anyone with a claim to legal ownership while the art is on display here. In recent years, though, American museum directors have come to fear that this safeguard has eroded, and that foreign museums, dreading entanglement in costly ownership battles, are more hesitant to make loans. So they have asked Congress to increase the security for global art swaps. [ABSTRACT FROM AUTHOR]

June 5, 2012 Tags: LOANS, MUSEUM directors, MUSEUMS, WORKS of art in art
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Let’s talk franchising!

The article shares ideas from Robynn Thornton-Howie, franchiser of Jillipop & Co. in Largo, Maryland doing business as Rita’s Italian Rice, on how to get into franchising. She refers to a loan secured from the U.S. Small Businss Administration as her source of capital in addition her savings to start the business. She notes the profit from purchasing the rights to two Rita’s mobile carts. She advises aspiring franchisees to research about the parent company and to talk to other franchisees.

April 1, 2012 Tags: FRANCHISES (Retail trade), LOANS
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Clearing Up Some Confusion About the New Federal Student Loan Rules

On Wednesday, President Obamaintroduced two changes to the federal student loan program that could affect several million borrowers. The broad outlines of his plans to encourage loan consolidation and assist people who are struggling financially are reasonably clear. But if the questions sent to our Bucks blog from indebted people are any indication, any change in Student Loan Land almost inevitably leads to enormous confusion. Many questions had to do with whether private loans, the kind that come from banks and often have higher and variable interest rates, are part of these changes. Nothing is changing with those loans.

February 27, 2012 Tags: GOVERNMENT policy, INTEREST rates, INVESTMENT interest, LOANS, MONETARY policy, STUDENT loans
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Cashing In on Student Loans

Focuses on issues arising from the involvement of colleges in federal guaranteed student-loan programs for graduate and professional students in the U.S. Information on school-as-lender arrangements between colleges and student-loan companies; Efforts of the Consumer Bankers Association and the National Direct Student Loan Coalition to eliminate the provision in the Higher Education Act that gives colleges the authority to act as lenders to their graduate students; Concerns of lawmakers on how colleges spend the money they earn from school-as-lender deals. INSET: A Deal Between Pace U. and Sallie Mae Raises Questions.

February 27, 2012 Tags: GRADUATE students, HIGHER education -- Law & legislation, LOANS, STUDENT loans, UNIVERSITIES & colleges
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Be Wary of Private Student Loans

The article presents information on private student loans in the U.S. Starting early 2010, rules from the Federal Reserve will require lenders to provide more information about interest rates. For private loans, it is essential for students to have a credit-worthy cosigner. Credit scores are affected by too many loan applications.

February 27, 2012 Tags: INTEREST rates, LOANS, MONEYLENDERS, STUDENT loans
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A REPRIEVE ON STUDENT LOANS

The article reports on the reprieve on student loans in the U.S. The reprieve applies to all student borrowers who still have federal Stafford loans with variable interest rates issued before July 2006. There is one catch, however. Many private lenders, including those companies that until recently financed the lion’s share of consolidated loans, have stopped offering them, mostly due to recent legislation that made the deals less profitable, according to the author.

February 25, 2012 Tags: BANK loans, FIXED interest rates, LOANS, STUDENT loans, VARIABLE interest rates
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Default Rate on Student Loans Falls for 2005 Fiscal Year

The article focuses on the default rates of student loans. According to a U.S. Education Department report, the rate at which borrowers defaulted on their federally guaranteed student loans decreased in the 2005 fiscal year, due in part to more loan consolidation and to the number of forbearances and deferments granted to students after Hurricanes Katrina and Rita. According to the article, the report was released after the U.S. Congress approved legislation that would reduce the amount of money received by private lenders in the case of defaulted loans. The article reports that lenders must maintain a certain cohort default rate in order to participate in the federal loan program.

February 24, 2012 Tags: DEFAULT (Finance), FINANCIAL aid, GOVERNMENT policy, LOANS, RATES, STUDENT financial aid -- Law & legislation, STUDENT loans
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Cuomo Subpoenas Loan Companies Over Marketing Practices to Students

The article discusses the efforts of New York State attorney general Andrew M. Cuomo and his investigation into the college student loan scandal. Subpoenas have been written by Cuomo’s office to 33 student loan companies that are suspected of using unethical marketing strategies including Sallie Mae, Nelnet, JPMorgan Chase & Co., and Bank of America. John Dean of Consumer Bankers Association says that the subpoenas were a surprise considering the level of cooperation on the part of the companies involved. Cuomo is accusing of the companies of using web sites and mailings with rebate offers and fake checks to lure lenders.

February 24, 2012 Tags: FINANCIAL institutions, LOANS, MARKETING, MARKETING strategy, STUDENT loans, SUBPOENA
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Yes, you can dump your bank

The article offers information regarding switching one’s finances away from a large bank. Recommendations include using a brokerage cash account instead of a checking account, smartypig.com instead of a savings account, and a credit union for borrowing needs. Statistics are presented comparing a bank checking account and a brokerage cash account.

February 1, 2012 Tags: BANKING industry, CREDIT unions, LOANS, PERSONAL finance, SAVINGS accounts, STOCKBROKERS
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