Personal finance news - CNNMoney.com Updated : Macy's reports overcharging customers Some Macy's stores overcharged holiday shoppers who used debit cards to make purchases on one of the busiest shopping days of the year. Publ.Date : Fri, 02 Jan 2009 15:27:22 EST Keeping wealth in the family Lisa and Bruce Brown are fortunate enough to have plenty of assets to protect. Foremost of these is their children: The Browns are the proud parents of four-year-old Emma, and they have another baby on the way. The Oakland couple also have considerable assets of the financial variety. Thanks to diligent saving and smart property investments, the Browns have a net worth of nearly $2 million. Publ.Date : Wed, 31 Dec 2008 13:09:06 EST Life after a six-figure salary Happy new year and welcome to your new job. One that pays 30%, 50%, 70% less than your old one. Publ.Date : Fri, 02 Jan 2009 06:26:42 EST Merchant Datafeeds Amazon RSS

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Lenders offer low interest mortgage loans

People looking for mortgage loans are often flooded with offers of low interest mortgage loans. Initially it sounds great to sign up for these types of loans. But one has to understand clearly the terms and conditions that are behind the offer of the low interest mortgage loan. It is common to find lenders advertising for low interest mortgage loans but limiting this offer for an initial period of say 1 year and then increase the rates. It could also be that the low interest mortgage loan will carry the low interest advertised for the initial, say $ 50,000 and then an increased rate for the balance of the loan.

The terms have to be understood clearly upfront. Is the interest rate fixed or variable? If fixed, for what period of time? If variable, by how much is the loan varying from the prime rate? What are the closing costs? One should not be carried away by the low interest mortgage loan advertised without understanding the above. Closing costs may be very high and enough to compensate for the low interest charged by the lender. Lenders target customers with good credit score for these types of low interest mortgage loans, as the risk is very low. With prime rates very low, it makes sense for one to consider any low interest mortgage loans offered and make a detailed analysis of costs involved before signing up. People, who already have mortgages, can think of refinancing with these types of low interest mortgage loans.

We have searched the internet and have provided here links to sources that give useful  information on low interest mortgage loans, debt consolidation loans, home equity loans, car loans, personal loans, credit reports and credit cards. Click through these links and  understand the terms and conditions before applying for any of these loans, credit cards and credit reports.