Borrowing

A new way

There’s a new way to handle your student loans. There’s a company called SoFi who offers better rates for student loans, home mortgages, and personal loans. Some of you might have a ton of high interest rate student loans. You need to refinance these to lower interest rate loans. According to SoFi’s web site, Make…

Borrowing

Refinancing College Loans

For many college graduates, college loans are a terrible burden. Refinancing college loans into loans with affordable rates is next to impossible. However, SoFi founder and CEO Mike Cagney has created a wonderful solution to this problem. SoFi is a social lending platform that brings together student loan borrowers, alumni and institutional investors. What makes it unique…

Lending

Should you co-sign?

MRHerrera Financial Ministry Archives Contact Resources Scriptures Useful Articles Should you co-sign? Should you co-sign for a friend, a family member or your child? The answer is absolutely, positively, a resounding NO! The Federal Trade Commission conducted a study on this issue and found that 50% of those who co-signed for bank loans were stuck…

Borrowing

How to Pay-Off Your Mortgage Early

How to Pay-Off Your Mortgage Early involves discipline and commitment. I know because our mortgage was paid-in-full last month. We took out our mortgage to build our home in 2000. Initially, we had to do a 30- year-loan, as rates were high and our money was not. In 2003, we refinanced to a 15-year-loan. Then,…

Borrowing

Peer to Peer Lending

Peer to peer lending (P2PL), do you know exactly what that is? Until today, I must admit that I had never heard of it. Yes, I have heard of peer-to-peer sharing, which in my mind, for the most part is the illegal sharing of copyrighted material. Anyway back to P2PL, what I found was that…