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Cubicle Coach: Girl's Guide to Paying Off Student Loans
By Cubicle Coach, Marie Claire, on Fri Jul 11, 2008 12:01pm PDTDebt-it's the four-letter word that haunts many of us from the moment we frame the diploma. Recent college grads carry a debt load averaging $20,000, according to the National Center for Education Statistics. Trying to pay that down on an entry level salary could take decades. But there are some... Read More »- Let’s talk: Comment (0) | Blog
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GreenNote connects social networking and college lending
By Dory Devlin, Shine staff, on Tue Jul 8, 2008 12:43pm PDTIt was only a matter of time. Someone was bound to match social networking with the ever-expanding need for affordable college loans as college tuition continues to rise faster than inflation and salaries.
GreenNote launched in June to do just that. You've probably heard of micro-lending sites such as Kiva, which pairs small loans ($25 and up) from individuals with entrepreneurs in developing countries. GreenNote applies that approach to college students, allowing them to reach out to friends and family who may want to lend $100 and up at rates comparable to federal Stafford loans. Read More »- Let’s talk: Comment (5) | Blog
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Florida’s Mortgage Fraud Penalties Steepened
By Preshikiss, on Wed May 7, 2008 7:23am PDTThe state Senate, in the wake of Florida 's real estate downturn and rapid rise in Florida foreclosures , passed a second bill increasing the penalties for those convicted of mortgage fraud. Not only is the legislation increasing penalties for mortgage fraud but they are also creating a... Read More »
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Dumb credit scoring penalizes the financially savvy
By Micki LeSueur, on Fri Apr 11, 2008 8:08am PDTThe credit reporting and scoring industry is an oppressive dictatorship. Want to close out high interest credit cards and switch to ones with zero interest? It sure seems like the financially astute and responsible move. Actually, it's pretty much a no-brainer. But being smart in the kingdom of the credit reporting industry will hit you where it hurts; right in the credit score. Staying debt free with no revolving debt? Good for you -- from a fiscally savvy standpoint. Bad for you -- from a credit score standpoint. Want to save 15% on that purchase at Old Navy? Or Target? Or Best Buy? Of course you do. You would be foolish not to. But it will cost you a ping on that score, making you appear risky as a borrower for being smart with your money.
I checked my credit report and credit score a few months back. The report showed that we had no unsecured debts. That we paid all our bills on time. Overall, our score was good. But it should have been excellent. What more could a lender want than someone who pays all their bills on time and has no consumer debt beyond the mortgage? Read More »- Let’s talk: Comment (5) | Blog
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