Featured Article
Credit Cards: What is the Universal Default Clause?Most people who carry major credit cards are well aware that the interest rates associated with them tend to be higher than for other types of lending, such as home or auto loans. Anyone who has paid their credit card bill late more than once or twice is also aware that doing so may cause the interest rate on their card to go up ? sometimes by quite a lot. Many credit cards carry interest rates of as much as 20% or 25% annually, and customers who want to avoid interest rates in that... Read more »
Credit
Credit Cards: What is the Universal Default Clause?Most people who carry major credit cards are well aware that the interest rates associated with them tend to be higher than for other types of lending, such as home or auto loans. Anyone who has paid their credit card bill late more than once or twice is also aware that doing so may cause the interest rate on their card to go up ? sometimes by quite a lot. Many credit cards carry interest rates of as much as 20% or 25% annually, and customers who...
Loans
The Truth In Lending ActWith a stated objective to help consumers, Congress deemed it fit that to enhance “economic stabilization and competition among the various financial institutions,” lenders must give written disclosures on cost of credit and various terminology of repayment. Thus lenders are required by law to make detailed disclosures on: Costs of all loans with the annual percentage rate (APR). All kinds of financial charges. Features of floating rate...
Mortgage Refinance
Guide to MortgagesA mortgage is a loan that is guaranteed by a property. At its most simple that means, if you can’t pay back your loan the lender can force you to sell your home so they can get their money back. Typically you can borrow three to three and a half times your income, or two and a half to three times the joint income of you and your partner. These are known as income multiples. The amount you can borrow will also depend on the value of your home....
Personal Finance
Succession PlanningHave you ever thought about what you are going to leave your children when you pass from this earth? Wouldn’t it be a great feeling to be able to give them a really good head start in life ? without actually spoiling them? It really doesn’t matter how old you are, it’s something that you need to be thinking about and planning for now. In the process of planning your inheritance and blessing your children, you are really making YOUR...
