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Over at Business Week, check out Old Banks, New Lending Tricks : …some of the world’s biggest banks are peddling a new generation of dicey products to corporations, consumers, and investors. . The story talks about “toxic investments” and “dangerous loans to borrowers who can’t repay them,” quoting our colleague Kathleen Keest of Center for Responsible Lending: “In the past two years lawmakers in 15 states have capped interest rates on short-term loans or kicked out payday lenders altogeth

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Random Feed wrote an interesting post today on
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Author : Steve Smith A rising proportion of first-time buyers are looking to purchase a home located near their place of work, it has been suggested In research conducted by Alliance & Leicester Mortgages’ movingimproving index, just over half (51 per cent) of those consumers looking to get their first foot on the property ladder rate living close to the workplace as the most crucial factor when choosing where to buy a home An additional 34 per cent of respondents ranked good transport

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Random Feed wrote an interesting post today on
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Author : Steve Smith People need to take steps to keep on top of their finances, an industry expert reports According to Gareth Mackie, a spokesperson for Halifax, many Britons are struggling to manage their money in the face of rising living costs He added that due to recent increases in areas such as council tax bills and petrol prices, pressure is being put on consumers’ capacity to invest money into savings accounts on a regular basis Due to difficulties in meeting the rising cost of

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Random Feed wrote an interesting post today on
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Payday loans are small, short-term, high-interest loans. Most are less than $400, with a term of two weeks or less. In exchange, the consumer generally pays $15 for every $100 borrowed, or a 360% APR. (Even high-interest credit cards generally charge less than 30% APR.) Most consumers roll over the loan several times, incurring an additional fee each time. For example, a $300 payday loan rolled over for three months will cost an additional $270 in interest payments. So why do people use pa

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Random Feed wrote an interesting post today on
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Car loans can be difficult to understand, so its no wonder why many people are confused about them and how to get them. Consumers also have a tendency to believe things about car loans that are completely false. Which is why it is important to know your basic facts and background information prior to getting a car loan.

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