Payday Loans can be a savior for everyone in those situations in life where you need a small amount of cash as soon as possible and just happen to have spent your last paycheck or maxed out your credit card that week. Payday loans are wonderful when you need a small amount of money rapidly. These loans are rapidly approved by many institutions without even a credit check and most people will only loan you as much as $1000. So, if you’re looking for a larger loan, payday loans may not be for you, but for those small cash emergencies, they are perfect. Also, Payday loans are meant to be paid off quickly, so be prepared to take the money out of your next paycheck to pay off this loan. Given these facts, Payday Loans are extremely useful and they can be very helpful when you don’t want to go through a long and tedious loan application with a bank that takes several weeks to approve.
Embed this infographic on your site:
First the bad news. According to CNN, despite rising home prices more than 30% of borrowers still owe more money on their mortgages than their homes are worth. That’s more than 16 million homeowners.
The Federal Housing Finance Agency reported on May 23, 2012 that national home prices increased a slight 0.6% during the first quarter of 2012, which represents the first price gain since 2007. Certainly not near enough to help homeowners who have “underwater mortgages.”
The danger is not that the homeowners will lose their homes, as 90% of the underwater borrowers, as they are referred to, continue to make their payments on time. But it hurts the economy as banks are going to make home equity loans on a home with negative equity. These loans are very popular with people as they use the funds to purchase cars, make home repairs and cover many other expenses. This is just one more example of how the economy, despite some good news, is still hindered by lack of growth. Continue reading