Personal and Business Loans

A survey of metro areas focused on where residents face the greatest risk of “rate shock.”

ACORN, a nationwide community activist organization looked at 130 metro areas, focusing on loans in the subprime market, including adjustable-rate mortgages.

ARMs are known for producing “rate shock” as interest rates increase. Most ARMs begin with low payments that increase significantly after the first year or two. Subprime loans are offered to borrowers who have less than perfect credit and do not qualify for low interest rates. Read the rest…

If you have shortage of cash and need to pay some unexpected bills, a cash advance or payday loan could be your best option as it could provide you with some cash in a matter of day or in 24 hours. You can either visit a cash advance store to get the loan or apply it online.

Applying cash advance payday loan online is the preferred option for most people because the Internet provides both convenience and privacy. It’s also easy to apply online; just Google the phrase “payday loan companies” and you will get a huge list of lenders all fighting to get your attention. You don’t have to go through all of them; just select 5 or 6 lenders from the top ten. Read the rest…

I recently visited a popular online forum with information on loan modifications. Many of the people posting messages have adjustable subprime mortgages and are now desperately seeking solutions to their increased payments. The titles of the posts include, “I am Scared” “What a Mess I Got Myself Into” and “What an Expensive Lesson I Just Learned – Never Again.” As I read the posts, I thought of how the passengers on the Titanic must have felt as the boat that “could not sink” began to tilt downward into the cold water.

The great help the lenders claim to be offering the troubled borrower does not appear to be what the borrower is actually getting. When borrowers attempt to modify their loans they are met with resistance from poorly informed “loan modification departments.” Read the rest…