Loan Relief Now

You’ll see a lot of scams online telling you there’s a secret to getting rich quickly. Most of the time, they’re asking for money…of course, you have to think if the secret is worth millions, why are they only charging $99 for it? Truthfully, there is no quick way to financial independence, short of winning the lotto, but there are a lot of ways to be fiscally responsible. One great place to start is at getrichslowly.org, a website full of great money management ideas.

Check them out at getrichslowly.org/blog

Bankrate.com is a fantastic website for looking up interest rates on all sorts of financial investments. For example, if you have a small amount of money saved and want to go with a low-risk, low-return investment, you might think about putting it away in a CD. But how do you know where to get the best interest rate, and what length should you select? What about the terms and conditions, is the bank FDIC, etc? Wouldn’t it be great if there was a website that would give you a listing of all this information? There is! Bankrate.com is a one stop shopping source for just about any kind of loan you can think of, whether it be an auto loan, money for college, or anything else.

Check it out at Bankrate.com

As we mentioned in the previous post, according to Federal Reserve chairman Bernanke, the Federal Reserve does not expect broader economic damage from the ever-increasing number of mortgage defaults. In light of recent efforts by Congress to regulate the subprime lending market by placing greater restrictions on lenders, Bernanke went even further. According to the chairman, placing broad restrictions on these practices may exacerbate the already mounting issues standing before the housing market. Legislation is currently being written in both the House and the Senate to deal with what is believed by some to be unfair lending practices, namely ambiguously language outlining the terms and conditions of the loans.

Fed Chairman Addresses Mortgage Concerns

With the speculation that the Fed will keep interest rates unchanged, some banking stocks appear to be headed for short-term pullbacks. Business activity appears strong, and therefore change is unlikely. As the article explains in simple terms, if the economic data looked more bleak, the Federal Reserve would lower interest rates to encourage borrowing (and spending) as a jolt to the economy. Bank stocks in turn would rise as loans convert into profit for those institutions. As it is, the chart for J.P. Morgan appears to be holding steady, having been relatively flat since mid April.

Federal Reserve Unlikely to Cut Interest Rates