When buying anything from a car to a house, you might choose a loan with a balloon payment at the end of the finance term. But, before entering such agreement, be sure you can answer the following question: What is a balloon payment? Simply put, a balloon payment is a massive, single payment that is […]
What Is a Revocable Trust?
So, what is a revocable trust? A revocable trust is a legal entity that is created to hold assets. The revocable trust could act as a self-defense tool to direct the use of assets should the creator of the trust become incapacitated. Parents can also use revocable trusts to hold assets for the benefit of […]
What Is an Annuity Payment?
Annuity payments are a popular source of retirement income, but the topic is polarizing among the financial community. Some observers see annuities as an important and useful income source. Others see them as expensive and complicated instruments that don’t being much value to clients. So, what is an annuity payment, and how do annuity payments […]
What Is a Peer to Peer Loan?
Most people have financial needs numerous times throughout the course of their lives. The most common and way of getting a loan is to apply for it directly with a banker. The more modern alternative to this is to apply for a bank loan online. However, peer to peer lending takes the bank out of […]
What Is a Jumbo Loan?
With many home prices between $250,000 to $500,000 or more in areas across the country, it is simply not reasonable for buyers to make such a large purchase with cash. After all, it may take the average person several decades or longer to save up that amount of money. You may not realize, however, that […]
What is a Good Credit Score?
The question of what is a good credit score bothers most people, especially those looking to take a loan. This is because of the common knowledge that lenders, banks, credit card companies, and other financial service providers use your credit worthiness to deny or approve a loan. For that reason, this article provides a detailed […]