Category Archives: Loans

The Essentials of Buying Your First Home

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The most expensive item that most people ever purchase is their home.  In terms of cost, every other purchase, from your car to your wedding, pales in comparison.  For first time home buyers, it can be a very exciting time, but also a very stressful time.  There are many factors to consider before a potential home buyer can even consider looking at homes.  

 What is your Credit Score?

Knowing your credit score and making the best use of your credit score is an important step in the home buying process.  If your credit score is poor, you might not qualify for a mortgage at all.…

Look To The Western Sky, For A Scam

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I was watching TV the other night, and a commercial for Western Sky came on.  The commercial stated that you could have up to $5,000 deposited into your account by the next day.  The next thing that was said is what really got my attention.  The lady speaking on the commercial said ‘yes, the money is expensive, but it’s still cheaper than a payday loan.’  They are admitting that the interest rate is high! I had to know how high.

I put my DVR to work, and rewound the commercial to a point where there was extremely small writing at the bottom of my screen.  What I read next was shocking;

“Terms for a $5,000 loan are 116.73% interest rate with 84 monthly payments of $486.58″

I was astounded that they can actually charge 116.73%!…