Higher "Ed" Could be Next Bubble to Burst The New American
Publication for July, 2011. It notes that dollar balances on student loans have increased by double-digit rates in the past decade and the number of loans has continued to increase in recent years as more people have been seeking education and training in a declining job market. But the tightening of lending standard in other sectors of the economy that followed the financial crisis of 2008 has not affected student loans, the report found."Unlike other loan segments, recent student loan originations are performing worse than those originated during the lending boom," the report said. "Tighter lending standards on auto loans, credit cards and mortgages during the recession have resulted in sharply improved performance than earlier vintages, even with the unemployment rate hovering around 9%. But default rates on student loans originated since the middle of 2008 are higher than vintages originated in 2006 or 2007 at similar times in their life cycles . The worsening performance of student loans reflects the fact that student loan origination standards were not tightened as they were for other types of consumer loans."
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myhometownllc.com http FHA Loan basics helps answer the question: What is FHA? Is a FHA Home Loan right for me? This video reviews FHA Guidelines ...
Is there a way to refinance school loan debt?
I have about 500k worth of school loan debt from my kids on top of a mortgage. Is there a way to refinance this loan to make it more affordable or is there some kind of debt forgiveness program?
in the upper right hand corner is an FAQ link - go there and start with who is eligible!
I used their service a couple months back and they consolidated all my debt and lowered my total debt about 25%.
How can I refinance my college school loans?
Actually it's my girlfriend who needs her college loans refinanced. They're about 60 thousand. Shes paying over $500 a month for her loan, and some of my friends have the same if not more of a total loan amount and they are paying hundreds of dollars lower a month. How can she get her loan refinanced to get a lower payment? Is this possible? Her current loan is through a company named Sallie Mae.
She can try. You can consolidate loans together so the amount doesn't change but the monthly payments are lower. Depending when she got them, my rate is around 3%, though I know they are higher now. You can't really refinance a student loan. Have her call Sallie Mae or try Nelnet as well.
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I would like to refinance my home with an FHA loan. I have cosigned several school loans.?
My daughter is currently in the grace period but I need to know if the payment amounts of the loans will be counted as debt for me also?
If your daughter's student loans are in deferrment for at least 12 months, it will not count against your debt-to-income ratio. If she is still in school, she can easily show proof of a 12 month deferrment. If she is not, she can request a deferrment or forebearance (depending on the loan company).
PS - I sure wish I knew what the person above me was rattling about
I'm thinking about refinancing my school loan to a lower interest rate. Who would you reconmend?
Can you tell me who has the lowest interest rates and what the rates are. I also want to know if the interest rate would be lower if you have good credit, or does that not matter...?
If you're talking about federal student loans, the interest rate is set by the government so it won't vary from lender to lender. Your rate will be the weighted average of your current loans, and there is no credit check required. Don't fall for the marketing hype around consolidation - do your research and make sure you stick with a large, reputable company.
http://www.salliemae.com/after_graduation/manage_your_loans/consolidate_student_loans/federal/student_loan_consolidation.htm
Is there a way to make a deal and cut down my refine loan. I took it for paying a school loan?
I have a balance of $90000.00 on it along with my home mortgage of a balance of 160000.00. I need to be able to lower my monthly payments. $1500.00 for house mortgage and $550.00 interest only for my refinance loan. Help
interest rates are dropping, You need to take the time to talk to lenders and look at refinancing and extending your payback, For instance go to a 30-40 year fixed rate at lower interest.
Should I refinance my Federal School Loans?
NO! I would not recomend this. School loans are at a low percentage rate anyways. My husband is in med school and he has had numerous offers come in. My advise is to sit tight, it may look like alot now, but when you have that job you are working towards, it should be a cinch to get them paid back.
How do I go about refinancing my school loans? And is it possible to put them on hold for a year or two?
You need to contact your lender. Under certain circumstances they will grant you a deferment period. But you really should contact them because the terms of your loan will be unique to your situation. The lender will know these terms and your options better than anyone on Yahoo! answers.
Can I refinance private education loans?
I have some Stafford loans that I know I can refinanance, but what is killing me are the rates of my private school loans. Am I allowed to refi them along with my Staffords?
I don't see why not. You just apply for a loan and use the money to pay off your Staffords, then pay the loan.
How do I get a better intrest rate on car loan?
my credit score is 590 and credit has no bad hits just extended with school loans and car pmt now...... what can I do to get a low intrest rate or good refinance rate?
1st of all you must be a good credit inorder to qualify for the lowest APR rate. I know because I just brought a new car for 2.9% APR for 60 months, and my credit is 740+. For the Used car, the interest will be much higher, I would think in between 6.9+. Try to improve your credit score, such as, pay bill on time, try to have more then one credit card, and keep it up for about a year or two before purchase a new or used car. The other way is try to buy the in Cash, that case, you dont need to qualify for any rate at all :)
Can you refinance student loans after consolidation?
I consolidated my student loans years ago (when interest rates were high). Last year I called my lender to see if I could refinance and take advantage of the lower interests rates. I was told that I could not do this because I had already consolidated my student loans and you would not refinance without consolidation. Is there any way around this?
I am back in school and currently paying cash for tuition. If I instead took out a small student loan this term, could I then consolidate that loan with my other student loan and take advange of the lower interest rates that way?
Your lender is correct. I would think the only way you could refinance and get a lower rate would be if you borrowed a new loan from a bank or an equity loan on your house and used those funds to pay off the consolidated loan.
Now if you borrow now you can reconsolidate all your new loans with your old loans but the interest rate will be a combination of the rate on the old loans and the rate on the new loan not what the old loans would be if they were not consolidated currently so unless you borrow a lot more it won't drop your interest that much.
refinance school loan - News
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A plan for home owners - Detroit Free Press A plan for home owners Provide the equivalent of what was once available as PMI (private mortgage insurance) to qualified home owners who can’t refinance their loans because of |
Obama faces massive scope of foreclosure crisis
ABC News A Democrat familiar with the plan said Tuesday night that it will "enable millions of Americans to refinance or modify their mortgages to get their monthly Obama in Valley to unveil foreclosure plan Obama to unveil housing market plan
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Commissioners back hospital refinancing - Daily American Online Commissioners back hospital refinancing By VICKI ROCK The Somerset County commissioners on Tuesday approved a resolution allowing Somerset Hospital to refinance a loan for up to $3.6 million. |
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Operation HOPE Mission to Deliver Practical Financial Literacy ... saving 680 foreclosures through loan modification, refinance or no action agreements totaling more than $201 million in challenged mortgages through its |