Personal finance

(2015) was a major landmark case for consumer credit, with a huge recorded penalty ordered by the Federal Court. On the 19th February 2015 the court awarded penalties of $18.975 million against pay day lender, the Cash Store and loan funder Assistive Finance Australia for failing to comply with their responsible lending obligations under consumer lending law. It held contraventions to the National Consumer Credit Protection Act (2009), the National Credit Code and the ASIC Act. During the case,…

Angelo Mozilo’s family was poor and were unable to own their home, which was the driving force behind the creation of Countrywide. Indeed, when Countrywide was founded his primary goal was to make homeownership affordable for everyone, with a focus on minorities and low income families (O’Brien, 2010). However, after 2003, Countrywide’s products sole purpose was to increase market share and was even labeled as predatory by some because it resulted in massive foreclosures hurting the very…

Securing Funding on a Custom Home: What is a Jumbo Loan? Put simply, a jumbo loan is a mortgage loan that is higher than conventional loan limits. Every year, the two largest agencies, Fannie Mae (FNMA) and Freddie Mac (FHLMC) set a limit on the amount they will pay to purchase home loans. The current limit for a conventional loan on a single-family home, in all but two states, is $417,000. Jumbo loans make it possible to purchase the high end home of your choice when the amount exceeds the…

The first thing to do in home buying will be to comprehend the various kinds of mortgage loan to be able to make a good decision for your circumstances. Understanding the disparities amongst the range of mortgage loans could be a great assistance when it is time for it to get a mortgage loan. With all of the various home loan programs accessible, this article covers a little summary of these various loan programs. A comparison of FHA, VA, USDA, Conventional and Jumbo mortgage programs will give…

In this instance, you need only convince the home's owner that your worthy rather than convincing a bank or mortgage company. A seller finance deal is likely to come at a higher interest rate than a bank loan but may still be less than a subprime mortgage. To execute a carry-back, you will provide a promissory note to the home's current owner detailing the home's purchase price, the interest…

can be in the position to help others with their credit and concentrate in Real Estate, that’s when I stumbled upon The University of Alabama PhD in Finance. Getting this degree will provide me with the skills and knowledge to fulfill my goals.…

If you are wanting to buy a home but have bad credit, you have probably dismissed the idea thinking that because of your credit it's not in the cards. However, the good news is that nothing could be further from the truth! So sit down, relax, and buckle up because this is just the beginning of your home buying journey and it's going to be an exciting one! Credit Score Break Down Lenders put a lot of weight on your credit score when looking at your home loan application. Here are the credit…

Aurora, Illinois is a place of culture and history. It 's the kind of town where you can spend an evening at the historic Paramount Theatre, catching a live performance. Or if that 's not your cup of tea, you can hang out at Downtown Alive on summer evenings. That is, of course, when you have the money. That 's often the catch, isn 't it? Too much month, not enough money to get you through to the end of the month. You might be asking yourself, "What does this have to do with getting title loans…

As a person who is looking to take advantage of the rent-to-own program, I believe it is a great way to help people who otherwise would not be able to make such a purchase. I went to a bank, which I will leave un-named, to find out what I would need to do with them in order to get a home loan. It was at that time that I found out that, I do not have a credit score at all. The loan lady told me that I was a first for her, that she had never seen a credit score come back with no number on it. I…

planning a wedding and creating a life with my future spouse can cause stress financially, emotionally, and physically. In order to plan for a wedding, the things that should be taken into context are: venues, catering, clothing, and decorations. Finances can cause a major strain on relationships because there are many things that can effect livelihood and financial stability. Credit scores, debt, and savings (only to name a few) can hinder financial gain because if my partner has a low credit…