Are You a Bad Borrower?

by Heidi on July 11, 2014

in Money Saving Tips

Getting approved for a loan isn’t always a good thing. You have to make sure you are a good borrower. What makes a bad borrower? There are several types of loans you should avoid if you don’t want to overextend yourself and potentially damage your credit rating.

Payday loans Interest rates on pay day loans often run high into the triple digits.  They are designed to be extremely short-term. Pay day loans often put borrowers in a cycle of debt that can be difficult to break because borrower usually can’t pay off the original loans and keep returning to the service.

Car title loans Borrowing against an asset is usually never a good idea. Most car title loans charge interest with an annual percentage rate of well over a 100 percent and they are generally due within one month. If the borrower can’t pay back the loan, the lender will take your car and sell it.

Tax refund anticipation loans Another loan with an extremely high interest rate is a tax refund anticipation loan. If you need more money you can change the amount that’s withheld from your paycheck. That way you give yourself a raise and the government takes only the amount that’s owed.

Co-signing a loan Co-signing a loan for someone else has you taking on all of the responsibility of another financial obligation with none of the benefits. Too often co-signers find themselves left with the loan long after the other person on the loan has stopped paying. It usually never makes sense to take on someone else’s debt.

 

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Situated on a country road in a peaceful location sits this magnificent new construction home is completely finished and awaiting your arrival. This acre plus lot abuts 800+ acres of conservation trails accessible right from your back yard. Nature enthusiasts will love, hiking, biking, birding and snowshoeing just to name a few. Unique open floor plan and lots of windows offers natural light throughout the home. First floor master with 2 second floor en suite bedrooms and an option for a 3rd, offers a flexible floor plan for many family dynamics. The square footage is unbeatable for this price. Kitchen aficionados will love the stainless steel appliances including double wall ovens, gas cook top Refrigerator with ice maker, dishwasher and built in microwave. Entertaining from this space will be a delight with lots of room on the Silestone counters and many white maple cabinets to store all your extra gadgets. Kitchen is open to Great room with soaring ceilings and a centered gas firepl

This is a Colonial/Contemporary style home and features 9 total rooms, 3 full baths, 1 half bath, 4 bedrooms, 1.12 Acres, and is currently available for $649,900.

For complete details click here.

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MDM Realty Welcomes Stevan Magnussen

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MDM Realty welcomes Stevan Magnussen! Take a look at his bio and feel free to contact him for all of your real estate needs. Stevan Magnussen Cell: 508-341-3771 Email: Stevanmagnussen@hotmail.com Receiving his Real Estate License in 1995 Stevan came to work for MDM Realty Inc. and worked for many years as a successful sales agent [...]

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Condo – 17 Weld St Framingham, MA 01702 is now new to the market!

July 1, 2014

Absolutely mint condition 2 bedroom unit at Century Estates with a fantastic rental history. Floors are custom tile work at entry way through the dining room and kitchen. Living room and bedrooms have neutral Berber carpets and are all generous sized rooms. Updated kitchen with nice cabinets, counters and newer appliances. Bathroom is also updated [...]

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Date: 06/29/2014 Time: 11:00 AM to 1:30 PM  For Directions: click on the map image or feel free to contact me.  For more information: click here for the full details   OPEN HOUSE, JUNE 29TH 11AM-1:30PM. This is the home for you if you love to garden and entertain and not looking for your typical layout. You may [...]

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