How Does a Reverse Mortgage Work

November 12th, 2008 at 12:45am Under finance

Reverse mortgages (called lifetime mortgages in the UK and sometimes called home equity loans) are basically the ‘opposite’ (or ‘reverse’, hence the name) of ordinary mortgages. Here is how a reverse mortgage works.

How It Works

Seniors (over 62 in the United States and 60 in Australia) are the only people allowed to apply for reverse mortgages. Basically, seniors can borrow money against the value of their home. That is why it

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Why is it Important to Save Money

October 23rd, 2008 at 05:39am Under finance

About a week ago I wrote a list of ways to save money. Today, I am going to discuss the main reasons why you should save money.

Why Save Money?

• You can save for a new car, boat, plasma TV or other luxury items. While you can just pay for these with loans and credit cards, it is much better to pay up front

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List of Ways to Save Money

October 18th, 2008 at 05:16am Under finance

Here is a list of the easiest ways to save money.

• Shop around. Look in all the catalogs and determine what you want to buy and which brand is the cheapest.
• Stop buying things from vending machines. Always buy from supermarkets as it will save you a lot of money over time.
• Use coupons. Grab them wherever you can and actually use them.

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Prepaid Credit Cards for Teenagers

October 16th, 2008 at 07:27am Under finance

Are prepaid credit cards a good choice for teenagers? What are some of the pros and cons of prepaid credit cards? This post will answer those questions.

A Good Choice For Teens?

Prepaid credit cards can be a good choice for teenagers who want to have the freedom associated with credit cards (such as buying online products) without the risk of raking up debt. Many of these cards have variable options for

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Credit Crisis Explained

October 11th, 2008 at 01:28am Under finance

The current credit crisis (also called the financial crisis or the credit crunch) has left many people worried that there will be a worldwide economic recession. This post will explain why the credit crisis is happening and what the expected effects are.

Causes:

There are many causes of the credit crisis, but these are the main causes.

• Boom and then a rapid decline in housing prices in the United States. Low interests rates

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Top Ten Banks in America

October 6th, 2008 at 04:16am Under finance

Here are the top ten banks in America, ranked by total assets. There are also a couple of interesting facts about each bank!

1. Bank of America. Has over 205,000 employees. Has committed $20 billion over the next 10 years to promote an environmentally-friendly business.
2. JPMorgan Chase & Co. Tony Blair, ex Prime Minister of the United Kingdom, was once a employee. Won the Business Week ‘Top 10 Best Places to Launch a

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Tips on Credit Card Consolidation

October 5th, 2008 at 07:42am Under finance

Consolidating your credit card debt can be a terrific solution to help you get your debts under control. It can also be a disaster, and cause you to lose your home. Here are some tips on credit card consolidation (by means of debt consolidation).

• Debt consolidation loans combine all your debts into one loan with a lower interest rate and a longer time to repay the debt. However, all these debts

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