Fundublog Loans

Planning a home loan

admin — Mon, 07 Jul 2008 07:56:12 +0000

Owing a house is one of the biggest dreams of many a family. Buying a house is a lifetime decision involving a large quantum of funds and usually forms almost 80 to 90 percent of the family’s asset base. To raise a large quantum of finance the internal funds are complemented by bank borrowings. The journey from applying for a loan to getting one is the most important link in achieving the goal of a dream house. The exercise begins with the property selection, moves on to bank selection and passing through many more procedures reaches the destination of getting the loan. Read more
Courtesy: economictimes.indiatimes.com

Planning home loan repayment

admin — Mon, 07 Jul 2008 07:51:15 +0000

Home loans run into lakhs of rupees. It is a longterm and substantial financial commitment. A borrower who has borrowed a hefty amount can sometimes crack under pressure. Defaulting is a nightmare which most home owners dread. Managing home loan repayments in the current scenario of soaring inflation rate and high interest rates can be quite a challenge for many borrowers. But it is manageable with some planning.

The increase in input costs including that of steel, cement and labour has pushed the cost of homes further up. Also, investments in realty projects by foreign players has added its bit to price escalation. To rein in inflation the Reserve Bank of India (RBI) is bound to tighten monetary policy measures. Interest rates are showing indications of going upwards. Read more
Courtesy: economictimes.indiatimes.com

Wachovia quits offering risky mortgage loan

admin — Mon, 07 Jul 2008 07:37:11 +0000

Beleaguered consumer bank Wachovia Corp. said Monday it will quit offering a mortgage payment option that allows borrowers to pay less each month than the bank charges in interest.

The choice to pay less was one of the options of Wachovia’s controversial Pick-A-Payment mortgages, which offer customers four different payment options each month. Wachovia said it will no longer offer the less-than-full interest payment option on all new home loans.

Wachovia also said it is waiving all prepayment fees associated with its Pick-A-Payment mortgages. Read more
Courtesy: www.washingtonpost.com

Rates dropped July 1 on some student loans

admin — Mon, 07 Jul 2008 07:19:26 +0000

With the rise and fall of interest rates in recent months, good news has been rare.

A drop in student loan interest and up to 3 percent drop for some student loan holders is a welcome occurrence.

Interest rates of federal Stafford loans, which were dispersed between July 1, 1998, and June 30, 2006, dropped from 7.2 percent to 4.21 percent on July 1. Federal Parent PLUS Loans dispersed during the same time saw a similar drop, resulting in a 5.01 percent rate. Read more
Courtesy: www.clevelandbanner.com

Smart and Instant Money for all your Needs

admin — Mon, 07 Jul 2008 07:09:29 +0000

People need monetary help for meeting various expenses and some of the requirements urgent. At times of needs, your bad credit may prove to be a huge hurdle in loan approval. However there are specific lenders who provide loans for all purpose to the bad credit borrowers in a smooth manner if you meet some conditions. The loan amount offered by these lenders can be used in variety of purposes like home improvements, for clearing weeding or educational bills or even for paying off the existing debts. Read more
Courtesy: www.bestsyndication.com

How a loan could cost you a bundle

admin — Sun, 06 Jul 2008 11:47:25 +0000

Cash-strapped Kiwis considering a loan to get themselves out of a financial hole could end up paying almost twice as much as they borrowed to clear the debt.

The Herald on Sunday obtained one quote which would require more than $25,000 to repay a $15,000 loan over four years.

Our investigation also revealed borrowers were likely to pay hundreds of dollars in administration fees - and could be locked into repayment terms of up to five years. Read more
Courtesy: www.nzherald.co.nz

When a payday loan is a pay-back moan

admin — Sun, 06 Jul 2008 11:44:38 +0000

Have you ever found yourself so cash-strapped you have to find a way to access money you know is coming but you haven’t received yet?

Well, you’re not alone.

Many people have been flocking to payday loan companies. In fact, there are 700 payday loan operators just in Ontario. With payday loans you can usually borrow up to 30% of your paycheque for a two-week period of time. Read more
Courtesy: torontosun.com

Dream house: Owning a home is becoming a distant dream

admin — Sun, 06 Jul 2008 11:37:58 +0000

Home loan borrowers need to brave a 50-75 basis point hike in interest rates with most banks and leading housing finance player HDFC having increased their interest rates.

The rate hike will not only increase the cost of new loans but will also make all existing floating rate loans costlier by half to three fourth cent. Read more
Courtesy: economictimes.indiatimes.com

Managing repayment of home loans

admin — Sun, 06 Jul 2008 11:34:03 +0000

Over the last six months there has been a sudden spurt in inflation. The disturbing fact is that there are no signs of it coming down in the near future. So far, the Reserve Bank of India (RBI) has increased the repo rate and the cash reserve ratio (CRR) in its attempt to fight inflation. By increasing the repo rate and the CRR, the RBI indirectly increases the cost of funds for banks.

These measures seem ineffective as inflation has touched a 7-year high on the back of high oil prices. Hence, there is a possibility that the RBI may increase interest rates in the near future , which is considered to be a more effective measure to fight inflation. Read more
Courtesy: economictimes.indiatimes.com

SBI raises floating rate on home loans by 0.5 per cent ne

admin — Sun, 06 Jul 2008 11:22:45 +0000

State Bank of India, the country’s largest lender, has increased its floating home loan rate by 50 basis points across all tenors with effect from 27 June, the day on which the bank increased its PLR by 0.5 per cent.

For home loans of up to Rs30 lakh and 20 and 25 years tenure, the interest rate has been increased by 0.5 per cent to 11 per cent against 10.5 per cent, SBI said in a release. Read more
Courtesy: www.domain-b.com