Tagged: loans

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Are you a Hot Commodity?

Financial institutions – banks, credit card companies, etc. have money. And they need to invest this money. And they need to make money on their investment. They do not loan us money because they like us, or we need it and our goals are important to them. (I am speaking from an institution perspective, your loans officer may care about you and your goals – the good ones anyway). They loan us money because they are investing in us

Beware the word CONSOLIDATION! 2

Beware the word CONSOLIDATION!

What comes to mind when you hear the word “Consolidation”? Do you envision all of your debts being ‘paid off’ leaving you with the manageable obligation of one monthly payment? If so, you are thinking about a “Consolidation Loan”. A financial institution loans you money by paying off your debt and you pay them back. With interest, of course. Nowadays, the word “consolidation” is being used in a much more liberal term