Debt Consolidation Credit Counseling In Phoenix

Student loan debt may well be a low interest debt and many people argue that it is tied on to an asset that steadily appreciates but the truth of the matter remains that it is indeed a tough payment to make month on month at the outset of your career. There is some good news however because there are now a number of smart strategies that you can use in order to push down your bill. With some wise decisions you can even be in a position to pay off your loan well ahead of the scheduled time. This could help you to free up your cash for other long-term goals that you may have in mind.

In order to erase your student debt loan you might want to keep a few steps in mind. The first of those steps would be to consolidate your loans. Today we find ourselves in an environment that has favorable interest rates to offer. As a result anyone who is looking to eradicate their student debt should first seriously consider the option of loan consolidation. This move will allow you to wrap up your existing federal loans into one single loan that has a low interest. The extra savings that you make can then be applied towards the principal amount on your loan. This could really help you to put your debt behind you much faster.

Another step you might want to give good thought to would be building up a nest egg. It is advisable that you get creative with some kind of long term tool for savings. Roth IRAs would be a good way to start as their earnings grow in your account tax free.

The third and very important step to erasing your student debt loan would be to use to your advantage every kind of tax deduction that is available. Then you can apply whatever savings you make towards your loan repayment and thus be in a more comfortable position. With a few wise decisions and some frugal spending habits you can be successful in erasing your student debt loan at the earliest.

When It Comes To Student Loan Debt... You're Not Alone!

Escalating college tuitions are making student loan debt an eerie fact of life for students everywhere. The average cost of tuition for 4-year colleges has more than doubled over the past 30 years. By the time you add up the cost of tuition, plus room and board, the cost of attending a private college hovers around $29,026 per year and around $12,127 at four-year public universities. Consequently, debt from educational loans has reached overwhelming epic proportions. As we face these uncertain economic times, more individuals are feeling the pressure of the costs of education.

The facts don't lie; graduates are having a hard time coping with debt and are in need of debt relief. The percentage of Americans with outstanding student loans that say this debt is preventing them from making major purchases, such as a house or a car is increasing. Thirty percent of those polled say their student loan debt is a major burden. Once an individual becomes part of the student loan abyss, they must tread lightly. If this debt is not managed properly, it can not only lead to bad credit, it can also lead to loss of eligibility for future federal aid, and the possibility of wage garnishment and the withholding of tax refunds.

I truly believe it is time for college students and graduates to rally together and establish a grassroots organization that lobbies for student loan reform. Unless that happens, the powers that be will gladly sit back and watch as the student loan debt meter continues swelling to epic proportions.

If you are having challenges with paying your student loan, there is help with nonprofit organizations such as American Student Assistance. They offer outreach and education, loan repayment counseling, budget planning, information on repayment options, and even help for borrowers who have defaulted on their loans.

If you have federal loans through the Direct Loan program, you may qualify for an income contingent repayment plan. Or, if your income isn't sufficient to repay a federal loan, you can apply for an economic hardship deferment or forbearance, which would suspend or reduce your monthly payments. Just bear in mind that the interest will continue to multiply on student loans that are not federally subsidized. The important thing is to act now! Don't wait until action is taken against you. To determine if you qualify for any these programs, check out the website Finaid.org

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Making Money Secret:You are what you think about." If you think about negative things and negative circumstances, you will get negative results. On the other hand, if you think positively about your future, you will achieve positive results. To determine (approximately) what the MAP is, you should check several stores for a product. If they are all advertising the product on sale for around the same price, it is probably close to the MAP. The big box stores often stick to the MAP in their sale advertisements. You can sometimes find sales that price the product below the manufacturers minimum advertised price at small stores. Smaller stores have less to risk by angering suppliers, so check the smaller stores to save money.

Is there really any money making secrets? Well, it is never easy to tell what offers to make money online are legitimate and which are not. The best way to tell is to keep away from anything that promises a quick way to make money or a get rich quick attitude. You never get anything without some type of work added in. You want a company you choose to pay you cash and not points for useless things. You need a strategy that will not require you to have your own website or products already to be sold. You need not have to hard sell anything. You are not getting yourself into more internet promotion. It also needs to be able to give you a decent amount of money for your time spent.

Ok, now let me show you the 4 steps that are required for the success online. First of all, find an industry that you want to promote. It can be any industry, or a industry that you are interested in.Research about this industry. Find what's the demand and the supply.Create a website. You don't need to be a masters in creating website to complete this step. There are alot of web hosting that provide website creations and editing too. Draw traffic. This is the step that actually draw money into your bank. Have this mastered and your bank account will complain! Complaining of explosion!

Anyone with hard money experience knows quoting double-digit interest rates and several points in fees inspires some of the more dramatic borrower responses in the industry. Brokers and lenders witness everything from stunned silence to emphatic resentment. For borrowers with little or no experience with the hard money loans, a basic level of understanding will aid immensely in the process of funding a hard money loan.

There are many out there who love to blog for personal use but how about blogging as a way to make money online? You do not have to be a great novelist to write a blog entry and the money you make selling ads listed on the blog will make up for it. There are many readymade blogs out there that only require you to submit your articles and a few easy clicks for setup. Each advertiser is charged a fee and the ads are strategically placed on the blog. The final step is to bring in the traffic but if the content you have is good, that should be no problem at all.

Generally speaking, the earlier the client is in the process, the more resistant they are to the reality that they are in a hard money situation. Asking some basic questions will help them understand the position they are in: What is your current interest rate?What steps have you taken so far to obtain a loan?Has another lender turned you down for financing? Why?How is your relationship with your bank? How would you rate your credit?

Many of these people play the lottery, or are always looking for the next get rich quick scheme, but the real reason only 1% of the world's population controls 98% of the wealth is because they know things others don't.

Also, retailers get caught in this game whether they like it or not. For example, once gasoline retailers started pricing a gallon using ".9" cents, how could any of them stop? Imagine if all the other gas stations had gas at $2.99 and 9/10 and one had $3.00 on the sign. The difference on ten gallons would be a penny - not worth driving further. But us drivers just see that they are the most expensive.

Shoppers can research products and purchase anything, at any time. The stores are open 24/7. And sales aren't slowing down. This is great news for you. An online business may be your very best bet to shift with the economic winds of fortune and make BIG MONEY in the next few years.

Frustrated when you look at the bills that keeps coming. Annoyed when you can't give you parents allowance? How do I know about all these frustrations? Cause I used to face them too! But not anymore. Click here to find out how much I actually went through before I am even here.

The good news is that bankruptcy is not viewed the same by all creditors and getting credit may not be as difficult as you have been led to believe by other people. While bankruptcy may not be tantamount to financial suicide, it will cause some mayhem where your credit is concerned.

If you are interested in applying for a mortgage following a bankruptcy then you need to find an experienced and qualified mortgage specialist who can give you the best advice possible. After you have been discharged from the bankruptcy, you need to obtain a copy of your credit report and to review it carefully. If you find any errors then it is essential for you to report the mistakes.

Be aware that some of your former accounts may show up as delinquent but still active even though they were a part of your bankruptcy. These former accounts can bring down your credit score tremendously.

The quicker you are able to obtain for a credit card after bankruptcy, the better are your chances of obtaining a mortgage following the bankruptcy. For example, you can start to re-establish your credit when you are in your payoff period by getting a secured credit card. For example you could put up $300 to $500 of your own money and that would be your credit limit. It is from this money that you would borrow.

Credit card companies are aware of the fact that most individuals have little if any debt after they have come out of bankruptcy. They also know that you are probably scrambling to find ways to rebuild your credit. For that reason you might find yourself barraged by credit card applications. Tread carefully if the applications are free flowing.

If and when you are approved for a credit card the interest rate for the card will be high but your credit limit is likely to be lower than you would like it to be.

If your payment history since your bankruptcy is completely unblemished then your chances of being approved for a mortgage are much greater. Once you have had a credit card for awhile and have been making your payments in a responsible and timely manner, you can then think about applying for a mortgage.

During a negotiation, two or more parties discuss certain mutually satisfactory conditions to resolve a certain issue. Students can also negotiate with their lenders about loans that they find difficulty in repaying. Loan negotiations cannot result in complete elimination of the loan, but the student may get a reduction in the rate of interest or longer tenure of repayment or some other such concession.

Debt negotiations are best done by a third, mutually neutral party. There are negotiating agencies that study the case of the student who has taken the loan and then discuss with the lenders, trying to get as much benefit as possible for the student. Negotiators work on behalf of both the lender and the borrower and a successful negotiation is one in which both the parties are satisfied with the agreed conditions.

Usually, when a student decides to enter into negotiations, there are already stalled payments. But the very act of entering into a negotiation indicates that the student is willing to repay some of the debt. However, a student must resort to negotiation only as a last measure. Lending agencies have no wish to enter into negotiations, as there is no logical reason for them to settle for anything less than what is due to them.

Debt negotiators do not come cheap. The biggest qualification of a debt negotiator is that they carry some clout and are experienced in matters of loan financing. Most debt negotiators charge their fees upfront, or at least 60% in advance. This is a huge setback for student borrowers who are already deep in debt and in fact, defeats the entire purpose of negotiation. Negotiators are not very transparent in their dealings and let the student debtors know only what they need to know. These are dangerous issues and there may be unsettled dues towards the negotiators even after the debt has been long settled.

Students can perform their negotiations themselves, thus eliminating the need of negotiators. A negotiating agency won't do much more than what the students can do themselves. If there was a guarantor involved during the processing of the loan (which is now obligatory under Federal Family Education Loan Programs), then debt negotiations become simpler. Students can negotiate on any loan amount, but the decision of acceding to the negotiations lies in the hands of the lenders.

Are you drowning in debt--finding it almost unbearable to take a breath? If you're in a spiraling cycle of debt and can't get the funds to pay your bills any longerand have gotten so far behind that it is a physical impossibility, without a miracle, to ever catch up, you shouldn't hesitate to give a non-profit debt consolidation service a call. There may still be options for you.

When you get in touch with this company they will provide you with a certified credit counselor. Your counselor will need all of your financial information; all past due accounts,balances, and you gross income you receive in a month. From there, they'll provide you with a payment schedule designed with your unique situation in mind.

When the plan is made, your creditors will be contacted to get your bills renegotiated, many times as much as 50% sometimes even more. You will no longer send any payments to your old creditors but it will all be sent as one payment to the debt consolidation company. They take that payment and after subtracting their service fees (which are already included) they dole out the rest to your creditors as per the agreement.

As long as the company that you have selected is legitimate, you can feel confident that they will make your payments on time every time--all that you a required to do from now on is send them that one monthly payment; they take care of everything else. They will send you a monthly report so you can watch yourself progressively climb out of debt.

This is a really big decision to make, as you can see, trusting some company to handle your finances like that. You absolutely must research these companies beforehand; use good sense and make sure they are listed with and have a good standing in the better business bureau.

The company you choose should also provide opportunities for financial education for those who wish to learn proper money management skills. And programs to teach what credit is really for and how to use it wisely, so you never need similar services again.

About 90% of the banks all over the world use credit scores from one organization. That company is the Fair Isaac Corporation or better known as FICO.

It's a good idea for you to get your credit scores from the FICO website, because your FICO scores are the ones that most creditors will use to base their acceptance of your credit application. You need to get an accurate picture of what is going on with your score and what is causing it to be as it is.

Always be careful of the scam websites, any place with conflicting information, and the credit bureaus promoting their own version of the credit score. Be sure that they offer your true FICO scores for all three credit bureaus. At myFICO.com, you can purchase just one score or all three scores. This might end up being more than you want to pay, but it is the "truest" way of figuring out your score.

Each of the major bureaus also have their own version of credit scores. Let's look at those now.

Experian and their partners (for instance FreeCreditReport.com) will likely use a PLUS score or the FICO version 2 scoring system. Equifax actually uses FICO scores most of the time or the BEACON. If you order a report through Equifax, like their 3-in-1 report, you're less likely to notice large variations elsewhere because they use the FICO score. TransUnion usually uses the FICO classic scoring system. There seem to be a few variations and some are closer to FICO scores than others.

AnnualCreditReport.com will give you a credit score which is determined differently than the way your FICO score is calculated. They use VantageScore; however, they also use PLUS scores which should closely reflect your FICO score (within 100 points or so). There are different scales and formulas used in each system; FICO and PLUS scores are ranked between 300-850, while VantageScore's scale is between 501-990.

And so there it is. Now you know some of the credit bureau secrets. You should always try to continue to keep yourself educated about your credit score and about the credit system.

The president's 75 billion dollar Housing Fix-it Plan has arrived and because people are asking what its all about, here is my expert analysis. In a nutshell, the plan offers to make house payments more affordable for hard-pressed homeowners and contains five major benefits. Here they are:

1. The Fix-it Program helps Hard-Working Homeowners Stay in their homes: Those who commit to make reasonable monthly mortgage payments can stay in their homes " providing families with security and neighborhoods with stability. Thus owners who may have lost equity due to the faltering economy can lower their payments without having to move.

2. No help for flippers. Remember those TV shows where investors boasted of making massive profits by fixing up houses and then reselling them? Those days are mostly gone and in addition, the Obama plan provides no assistance for real estate speculators with homeowners receiving all the funds.

3. It Helps to Protect Neighborhoods: This plan helps to stabilize home prices for all homeowners in a neighborhood. After all, a foreclosed home often reduces the value of the entire neighborhood. The average homeowner could see his or her home value stabilized against declines because fewer homes will fall into foreclosure relative to what would happen absent the Homeowner Stability Initiative.

4. It Provides Support for Responsible Homeowners: Because loan modifications are more likely to succeed if they are made before a borrower misses a payment, the plan is proactive. It will include households at risk of default despite being current on their mortgage payments.

5. The Plan helps to restructure total Debt. The financial stability part of the plan is to create payment plans that can be kept by the homeowner " not pipe dream payments. By working in conjunction with Fannie Mae and Freddie Mac to standardize loan modifications, the Treasury Department hopes to do just that.

The goal of the Obama program, in a nutshell, is to lend security to the current volatile financial markets. The Treasury must placate nervous lenders who wish to pull the trigger on non-performing assets out of fear that home prices might fall even further if they wait, but stop the market from plunging further so that new purchasers may buy. In other words, lately a purchaser with good credit is finding it difficult to purchase a home because of lender concerns about the depreciating values in the marketplace. The Obama plan addresses both issues in one fell swoop.

The Obama Housing Fix-it Plan has much more to it. Parts of it involve granting incentives to lenders who postpone foreclosures, paying down principal for owners who stay in their property for five years, and even giving incentives to people who successfully modify loans.

The Treasury Department will be using the full power of Fannie Mae and Freddie Mac to standardize guidelines for loan modifications. And the benefit not talked about to consider is this one: by pumping 75 billion into the economy, the administration is giving the economy a sudden jolt that might be felt as quickly as June. The word on the street is that purchasing a home now and renting it out may prove to be a much safer bet than keeping the money in the bank!

Before you buy a home, you need to do some preparation. A little study goes a long way if you want to get through the jungle of mortgages, negotiating and home inspections. Let's look at a few tips you can use when buying a home.

It's important to be rational about home prices. If you find a home that has a great price, don't fall in love immediately. Do your due diligence and find out why the price is that good. Is it the personal situation of the seller, or is there something wrong with the house? Buyer beware!

If you're buying a house, you will probably need a mortgage. It's easy to only look at interest rates, but it's not the right way to decide on a mortgage. Never make a decision for a certain mortgage offer just because interest rates are low. Make sure you take the time to go through the fine print. If you don't understand something, ask the lender to explain it in plain English. If he's unable to do that, don't sign. A mortgage is a big obligation and if you mess up now, you can wind up in financial trouble down the road.

If you're not sure about mortgage paperwork, hire a lawyer. A lawyer is trained to find problems, so find a balance between being reasonable and listening to the lawyer. Many times, legal advice can be had at lower prices by looking at community programs in your area. A lawyer isn't cheap, so if you can use one of these programs, by all means do so.

Be sure to inspect your house and your mortgage carefully. It's a big decision, emotionally and financially, so it's worth it to put in the time to prepare. If you can, solicit the experience and knowledge of experts such as lawyers and buyers agents. It may cost you some money, but it's almost always worth it.

Credit problems are rampant. There are countless commercials on TV for credit repair companies, most everyone you know has had some sort of credit issue, but so far, youve been lucky " or maybe not. Today, well explore three of the tell-tale warning signs that signal you may be in need of credit repair, and then well outline some of the most successful solutions to help get you back on track.

Warning 1 - Know the score! Your credit score says more about you than you may think. Your credit score has a major impact on everything from interest rates to insurance premiums. For practicality sake, lets say your credit score is 600, thats pretty good right? WRONG! Unfortunately, any credit score under 720 is considered problematic and could use some repair.

The credit scoring range extends from 300 on up to 850. If you have a credit score of 850, you have the golden ticket! High credit score equals low risk to lenders and insures they will provide you with the best possible interest rates. Experian, Equifax, and TransUnion are the three main credit bureaus and their sole purpose is to collect information from companies that give you credit. The information is then analyzed and used to write up your credit report, wherein your credit score is derived.

Warning 2 - Dont be so negative! Although it may have been a long time since you were late with a payment or went delinquent on an account, your credit report may still be holding a grudge. If you havent taken steps to guarantee your credit has been cleaned up, those late payments and delinquent accounts can take as long as 18 months to clear off. The really bad news is that each negative entry on your credit report will pull down your credit score.

Warning 3 " You got troubles! Imagine youve gotten a raise in pay and youre ready to trade in that old beater for something new and shiny. Youre talking things over with the finance officer at your local car dealership, when, much to your surprise, you learn your payments will be a lot higher than you thought they would be. As you sign the dotted line, you begin to wonder why youre going to be writing a monthly check for twice what you calculated. Well, If you have difficulty getting a decent rate on loan for a new car, you may be in need of credit repair.

These are three laymans warning signs that indicate your credit might not be as great as you thought. If you think you may be in need of a little credit CPR, all it will take is some patience and perseverance. Most people can tackle credit issues themselves like getting debt consolidation loans, but if you dont feel confident doing this, or your problems are more severe than you can handle, there are a few respectable credit repair companies that, for a nominal fee, will take on your credit woes for you Keep on your toes when it comes to your credit. If you spot the warning signs, go on the offensive immediately. Your finances and your credit rating plus your secured loans will be happy you did!

Charging it to the Plastic is a term which although prevalent doesn't do justice to the service a credit card supplies. And at the rate the economy is going and with the pace of life that we have right now we want everything done the express way. An instant credit facility is the magnet to those people desperate for a credit card and ready to spend.

Credit card applications have taken over the need to have cold cash and a lot of people are trading in their hard-earned green bucks for a shot of having the charge-it-card. Great care is required when you have a credit card as it is an easy service to misuse and misunderstand. Financial Institutions worldwide also have to be more careful today and insist upon stricter verification of the credit card applicant. Although identity verification is a worldwide problem and the number one cause for delay, US Citizens will have to get used to the situation for the foreseeable future as extra checks are carried out under the banner of The US Patriotic Act. However, for the average American, the desire to have his or her credit card is worth the wait.

Now used at least once a day, the number of credit cards an American citizen will have could be up to ten, one of which will be used on a daily basis. With over 100,000 credit card applications in the system every day in America,, there certainly isn't any problem with demand for this small piece of plastic. There is a genuine need for credit and credit card applications are set to rise even higher in the coming years. Unfortunately much of this credit card use is for services that only benefit the people that create them, designed to tie people into services they do not need or can afford. If you have learned anything so far then you might be a little clearer about your obligations and what to expect when you make your credit card application.

Be warned though that just because you receive a priority application in the mail, you will still have to make a full application which is obviously for security reasons. Do not be alarmed by this because it is necessary to verify you are who you say you are. Many people nowadays don't even bother filling out paper forms when they can just complete an online form instead.

When filling out your credit card application, there are some important details that should be considered one being the possibility of hidden fees that can be quite expensive.

A repossession on your credit report is a very severe mark. It will cause you to pay outrageous interest rates and big down payments.

This mark will make it difficult to be approved for any new lines of credit. Additionally, it will remain on your report for seven years.

It is possible for you to remove this mark from your credit report. Following is an explanation on how the repossession procedure works.

First, your car is repossessed. Your car can be resold and, if your car is resold at a loss to the lender, you are responsible for repaying this loss. A deficiency judgment will be placed against you if you are found responsible and sued.

If you have a deficiency judgment, this will be reported on your credit as well as the repossession. Future lines of credit will be next to impossible to get if you have either one of these marks on your credit.

To remove a repossession, wait to see if you are sued for any damages or loss by the lender. We also suggest you wait until the car is re-sold.

You should then dispute the repossession on your report. This is done by sending a dispute letter to the bureaus.

In this letter you must provide an explanation as to why the mark is inaccurate. You can write this letter or hire a service to do it on your behalf.

Once the letter is received, the bureaus will conduct an investigation into the listing. The bureaus will contact the lender who will be asked to confirm that the account is yours, the balance, and the reported dates.

We suggest waiting until the lender receives some form of payment for the debt. This is because then the lender is much less likely to spend the time or money verifying it with the bureaus. If an item is not verified it must be removed from your credit report.

Deficiency judgment marks should be disputed as well. It is reported that the bureaus do not check public records when investigating a mark, which is where the bureau would find verification of a deficiency judgment.

In summary, you do not have to feel embarrassed or pay high interest rates every time your credit is run. Repossessions are removed from credit reports every day.

Life is much easier for many of us these days because of the internet. You can access unlimited information, communicate with people anywhere in the world, and send and receive important documents. However, all these benefits come with some potential problems. All this flow of information makes it much easier for criminals to get their hands on your personal information.

Most people store a lot of personal information on their home computer, laptop or PDA. Private information related to bank accounts and credit cards, as well as the associated passwords, are often stored on these devices. It isn't hard to imagine the harm that can be done to your credit standing if an identity thief steals these electronic goldmines. Hacking your computer long distance is another means of accessing your private details.

To keep yourself safe from this devastating crime, implement the following tips for identity theft protection immediately.

1) Set up your computer so that it requires a password in order to access any files. Do this for your PDA and laptop also.

2) Change your computer settings so it doesn't automatically remember your passwords. A lot of people have chosen the convenience of having their computer remember their passwords and enter them automatically. But it also makes it awfully easy for an identity thief to log in to your accounts.

3) Change your passwords frequently.

4) Use antivirus software, and make sure it's always running. These programs can keep hackers from infiltrating your system and stealing your information.

5) File sharing is another danger area. Your system is more open to being hacked if you have a wireless network that shares information between more than one computer.

6) Phishing is among the fastest growing methods of illegally collecting confidential information. Typically, you will receive an email that appears to be sent by a legitimate organization. When you follow the link, you'll be requested to enter your password. This information is then captured and used to take over your identity.

In response to the increased problem of identity theft, many institutions now offer identity theft insurance. If your personal information is stolen or compromised, this type of insurance will pay for your costs in rectifying the situation. This can include legal fees, phone bills, and postage. You can also be reimbursed for lost wages if you missed work while trying to resolve the situation. If you don't think you could deal with these kinds of costs on your own, your best bet is to take out some coverage.

It's not uncommon for someone to look for the lowest price on any purchase that they are planning on making - this goes double for a major purchase and definitely applies to Canadian mortgage rates. People look for the lowest monthly payment they can get on a car, on an apartment and on a house - often the lowest monthly rate, at least at the start of the loan, will be with an adjustable rate mortgage so a lot of folks jump on this in favor of paying a lower out of pocket than they would be paying on a fixed rate loan. This can work very well in some situations, but with the current state of the economy in Canada - this may not be the best option for a first time home buyer.

When Adjustables can be good

If you are only planning on staying in your new home for a very short period of time and the current trend with adjustable rate mortgages is substantially lower than that of the lowest fixed rate mortgage that you can qualify for then the adjustable rate mortgage could work out well for your situation - or if you're exceedingly confident that nothing will make the rates rise during the duration of your stay at the home it could also be the better option - but this is practically impossible to predict.

Some people don't mind the unpredictability that goes along with an adjustable rate mortgage, they don't get flustered with every little fluctuation of the market and can handle the up and down trends with confidence that their rate will rebound. Owning a home can be a stressful situation, especially if it's your first home - if you don't think you can handle the uncertainty of your monthly payment, which could constantly be going up and down, along with all of the other common stresses that go along with home ownership - an adjustable rate mortgage may not be the best for you.

The Pros of a Fixed Rate Loan

With a fixed rate mortgage, you know exactly what you are in for - there will be no secrets or surprises when your statement comes, you bill will remain the same each month. For a first time homeowner this can relieve a lot of the stress associated with the added responsibility of paying for a home. Before you sign your name to the dotted line you can sit down with all of the facts and figures and develop a budget that you are confident that you'll have no trouble paying. With an adjustable rate mortgage, this stability and confidence is impossible to have - sure your rate could go down, but if it goes up will you be able to still pay it? With a fixed rate mortgage this is a question that you won't have to worry about answering.

Some people will say that being bound to an interest rate for the life of your loan can be a bad thing. The truth of the matter is, that rates often do fluctuate - they go up and down, but having a fixed rate loan isn't like a life sentence in prison without the possibility of parole - if rates go down and stay down, you can consult your mortgage company about refinancing your loan to bring your current interest rate down. You may even be able to restructure your loan to pay less each month, while taking some equity out for necessary repairs or improvements at the same time. Locking yourself into a low rate should feel like a safety net, if you start seeing the rates drop after you've had your loan for a while - by all means, refinance and save yourself the money, but if the rates start to climb as the often do, you can rest easy that you are locked in at a good rate.

Your home should feel stable and secure, and with the current state of the economy in Canada things are very unpredictable. The best bet for a first time homebuyer is to compare mortgage rates for the lowest rate the can find and to lock it in for the duration of the loan - that way you'll be safe from any disasters that may occur in the near or distant future and free to make changes at a later date should they become necessary.

If you're strapped for cash, you don't have to look hard to find ads for payday loan services. It's a big industry now, with over 10,000 payday loan businesses in the US. It's easy to find a payday loan company online or near you.

On every payday loan site, you will find the advantages listed. A payday loan is quick. If you've tried the regular loan process before, you know that it can take days or weeks. You can get through the payday loan application process in less than 20 minutes. The money is transferred to your account within a day.

A payday loan is usually used to cover a temporary budget shortage. Some unexpected expense has come up and you need to cover it quick. If you use it that way, it's not a bad solution. What's important is that you're sure you'll be able to pay it off in time.

No matter how nice payday loan people are, they're still in the business of making a profit. They do this by charging interest on your loan. Some loans have low interest, some have high interest. A payday loan has a special kind of high interest.

Recently, government bureaucrats have tried to win votes by uttering their disapproval of the payday loan business. They profile payday loan companies as evil predators, preying on the poor consumer. This is of course not the whole picture. But admittedly, payday loan interest rates can reach some pretty steep levels. The interest rates really kick in when you're forced to renew or extend your payday loan because you can't pay it off in time.

If you pay off your payday loan in time, it's a good way to get some quick cash to get you out of a tight spot. If you don't pay it off in time, the interest rate can go up very high, very fast. So be careful and think before you complete your payday loan application.