Comments for Prime Rate Credit

Comment on Prepaid Credit Cards by Michael Strauss

Michael Strauss — Tue, 28 Nov 2006 11:27:25 +0000

Prepaids seem to be geting more popular, and cheaper to load up too. They’re also good for people aged around 16 – safer to carry than money.

Comment on Hi and Welcome to Prime Rate Credit Blog and Credit and Loan Help Site by best investment?

best investment? — Fri, 29 Sep 2006 00:08:27 +0000

does anyone reading this have any suggestions for a lower yield account that is very easy to access my money? i was thinking about the money market, like this post, but i wonder if there’s anything that will make my money work harder for me while i’m not touching it.

Comment on Better Credit Tip #3 by Rick

Rick — Fri, 30 Jun 2006 02:31:37 +0000

Found you via a search on Google.

Here is my add to the pay your bills on time blog:

Create a spreadsheet. Create columns for monthly bills, quarterly, semi-annual and annual. Put in each and every bill you pay during a year as they appear in your email/snail mail box. Even those obscure one’s like drivers license renewal etc. Then put down a date that those normally have to be paid. Then pay them a week before they are due.

This power of paying on time will be a good habit to have for life!!

I personally pay most of my bills online (but NOT via autopay). The reason for the non-autopay is I had a bill once of $15000 sent to me by mistake from the electric company because their meter reader miskeyed his reading and if I had had autopay then I would be in a world of hurt because concidentally I was paying for a car and happened to have that amount in my account from a loan. I shutter to think of the hassle I would have experienced if it had been sucked out automatically.

My tip for you.

Good luck,
Rick

Comment on 20% Down Mortgage is Better? by Jessica

Jessica — Tue, 23 May 2006 07:12:57 +0000

The 20% rule means if you do not have 20% equity in the property you have to pay mortgage insurance. The lender charges this because the loan to value is so high that there might be a chance of defult on the loan.The lower the loan to value they think somebody who has that much money into a property would not be likely to defult on there loan. So they want insurance to cover incase that would happen. You can get what is called a 80/20 loan or a piggy back loan. What that is a 80% loan with reg. rate and than a 20% loan with a higher rate. Interest you can wright off on taxes Mortgage insurance you can’t. So you have to figure out which one will save the most money. Also once your house value goes up to where you have 20% equity you can contact your lender and have the mortgage insurance removed.Hope this helped some what. As for the new home vs. the old from my own personal experience newer isn’t always better. Always check out the builder you use very, very well. If you have any other question in regards to mortgages please feel free to call me. Thanks and take care.
Jessica
1st Metropolitan Mortgage
410.414.9411 ext.1030
443.871.0381

Comment on Lenders Offering 50 Year Mortgage by ELSIE GANZON

ELSIE GANZON — Sat, 20 May 2006 14:04:14 +0000

NAME THE LENDERS OFFERING THE 50 YEAR MORTGAGE?
NAME THE RATES i.e., fixed, variable?
THANKS

My reply : I think the only bank currently offering this is located out of CA. More banks should be offering it soon though, because apparently it is a very popular option already. The name of the bank is Statewide Bancorp of Rancho Cucamonga .