Borrow Cash Online Loans Resources

Answers4u asked:


My husband is a Ph.D. student right now and I’m working but I plan on going back to get my Ph.D. in August, 2010.

We only have a mortgage and my student loan as debt.

We will have enough in our Emergency Fund to pay my student loan in full at the beginning of March, 2010 and still have that recommended $1,000 left in it (plus another Irregular fund to cover taxes, tuition, car repair).

However, I don’t know if I should pay it off or not…
The interest rate is 3.25%
The balance is about $12,500 (right now, about $12k or a little less by the end of Feb)
I can defer it with no interest when I start my Ph.D. (secured federal stafford loan)

However, I **** having debt and by paying it off, I can add an extra $1000 to the EF for a total of just over $7,000 when I start school again in that account in case something happens as I’m paying $200/mo on the loan that would go to the EF instead.

So I just wanted someone else to tell me their thoughts…

Option 1) pay off SL in full at the start of March, rebuild the EF as much as possible before school starts (and the income drops)

Option 2) Keep building EF and paying on SL until I finish school and then pay off the loan
(note: with option 2, other expenses could come up that would mean the money wouldn’t be available to pay off the loan after I graduate, meaning I’d be back to paying $200/mo on it again)

thanks!

Kennyb asked:


I have less than 15% equity in my home and need to consolidate some bills. My FICO is right at 530 and I have one late mortgage payment about 3 months ago. The amount I need is about 10% equity in my home, but can’t find a lender willing to let me have the money with such a low score. At this point in time, the interest rate is not as important as getting some things paid before they begin to affect my credit even more. Anyone know of any companies out there that will go with a 100% equity loan with my bad credit score?

Janelle C asked:


Here’s my situation…My husband and I want to buy a house…eventually. Of course, it’s the all-American dream. However, it won’t be happening for another couple of years, but when it does, we definitely have a hard situation to work with. My husband has bad credit and mine is actually pretty good. What would be the best approach because I know there will be some setback with him being the joint borrower such as a higher interest rate, etc. Would it be a good idea for me to be the sole borrower? Any advice would be appreciated.

A. Harris asked:


I just consolidated my personal debt to a Bank of America Gold Option Loan and I don’t know if I did the right thing;

Private Loan - $10,100 … 13%APR
Credit Card 1 - $6,800 … 14%APR
Credit Card 2 - $4,900 … 0% 1year, 14%
Credit Card 3 - $3,000 … 0% 1year, 14%
Credit Card 4 - $1,000 … 0% 1year, 14%
Total = $25,800

The Gold Option Loan is for the above total debt amount. The terms of the loan were as follows, 96 months at a 16% interest rate with NO PREPAYMENT PENALTY. I know what you’re thinking… 96 months woah, I just agreed to that term so the minimum payment would be low, but I plan on paying more than that (just needed a safety net that’s all). The interest rate is fixed unless god forbid I miss a payment but with automatic bill pay I don’t forsee that happening. It seemed like it would 1.) help me pay off my debt faster and 2.) make my life a lot easier it terms of monthly payments. Did I do the right thing? Anybody else have this loan? Thanks…
What if in a couple of months I decide sell everything I have and pay off this consolidated loan how would I calculate the total payoff amount?