Did you know that the three credit bureaus (Equifax, Experian, and TransUnion) are not government entities… they’re for-profit companies that aggregate your personal information and sell it to others? Point blank period. So, they don’t really care what happens to your identity…because they’ve already got theirs. Okay sure, we can fine them millions of dollars [...]
When Jay and I were newly dating and neither of us had any cash, nor any credit, but we were in need of a second car... we were at a crossroads and we had to do something. Here's my crash course on finance/lending that turned our situation around.
A majority of Americans want to buy a house someday. But how can you pull that off with our stagnant wages and student loan debt? Here's the 7 crucial steps you must do to qualify to buy a house. Disclosure: Yes, I am a mortgage lender. No, I am not writing on behalf of [...]
This morning, I was standing at my favorite hardware store buying paint and happened to overhear their morning staff meeting. One of the items that they focused on was encouraging their staff to promote the store's credit cards for their Fourth of July sales that are about to begin. I screamed inside. Do you know how [...]
After working nearly a decade in personal finance and consumer based lending; I have learned one crucial fact that I employ daily in my own private life: Getting “approved” for a loan will never mean that you can actually afford the loan. Here's why you need to live by this rule. Getting “approved” for [...]
You have heard that subprime loans are bad...but do you know why? Here's the truth about those "easy approval" loans. WHAT ARE DIFFERENT TYPES OF SUBPRIME LOANS? -Payday / Salary / Payroll loans or advances. -Title Loans. -Rent to Own Items (furniture, electronics, etc). -Easy or Quick Cash Loans. -"No Credit/Bad Credit" [...]
Here's the TRUTH about why your lender wants a cosigner. Today’s post is a follow-up to our famous post about what your loan officer looks for when you apply for a loan. I will be using internal banking terminology that’s explained in that post, so I suggest you start (HERE) before proceeding. So, [...]