My Finance Magazine

Credit

What Is A FICO Score?

A credit score is most commonly known as a FICO score. FICO stands for Fair Isaacs Corporation. It’s a company that developed the credit scoring software used to evaluate your credit worthiness. Most lenders use the FICO score to determine whether they should extend to you a mortgage, car loan, credit cards and any other type of credit. The higher your score, the more credit worthy you are. Lenders will know that more than likely, you pay your... 

Debt Consolidation

Dangerous Debt Consolidation Loans

On the surface, debt consolidation loans offer cash-strapped consumers some relief from high interest rates. Looking deeper, consumers should be wary of both the pros and cons of this fast growing practice. In their simplest forms, debt consolidation loans are refinance agreements, second mortgages, or home equity loans. All three loan options allow homeowners to cash out part of the equity in their homes in order to pay off other debts. For borrowers... 

Debt Relief

Help to Get Out of Debt

Debt Help is the stepping stone to debt elimination and financial recovery. Debt help analysis guides you to save thousands of dollars in interest charges. Consolidation of your credit card debts and other unsecured bills will allow you to get out of debt as quickly as possible, save money on interest and late fees, stop creditor harassment, save your good credit rating or begin immediately to repair bad credit or negatives on your credit report. In... 

Loans

What is a Cash Advance Loan?

A cash advance loan is a short-term loan secured by your paycheck. It is also known as a “Payday Loan”. A cash advance loan is a quick and confidential way to get a cash advance until your next payday. A cash advance loan is a short term, high rate loan, where the lender requires the loan to be repaid on your next payday. Your funds can be used for anything you like, such as car bills, phone bills, medical emergencies, etc. From time to... 

Mortgage Refinance

Seller Financing

Although any loan used for buying real estate is strictly called a purchase money mortgage, the term is often employed for seller financing, those transactions in which you “take back” a mortgage as part of the purchase price. These arrangements are suitable, of course, only when you do not need your proceeds immediately toward the purchase of another home. Taking back financing could make your property easier to sell during a difficult... 

Personal Refinance

Portfolio Planning can Lead to Irreconcilable Differences

The judge had to ask the question, and we had to answer it in order to get our divorce finalized. It was all supposed to be pro-forma. "Why are you getting divorced?" the judge asked, his head buried in legal file folders. "Irreconcilable differences," my wife, Sue, and I answered in unison as our attorneys recommended. To our surprise, he followed up with a second question. "Differences about what?" "Investment...