I cosigned an SBA loan for a dear friend who’s company has started to seriously suffer from the economy. If he files for bankruptcy, where does that leave me. He’s leaning toward Chapter 13 which will allow restructuring of the amounts due, but what happens to me? Will I have a bankruptcy on my credit [...]
Nov 272011
Basically I am in sales now, and it has been a constant interest of mine, I know right now the economy is not great. but I do not care, I still feel there might be a level of prestige in the job, and a definite possibility of making a lot of money. Loan officers, I’m [...]
I’m planning to continue my education to a 4-year college. However, I’m not sure with the tough economy right now. Everything is going up, including books and tuition. Do you think it’s easy to get a student loan these days? Do you think it’s a good idea to go back to school now or wait [...]
I have car loan with high interest rate and would like to pay off some of the principal, but with bad economy I also want to reserve some cash for emergency. How should I pay this loan off? This loan has about three years left.
Is there any way to find out if a mortgage is paid off. My mom is thinking about renting a house, but we want to make sure the mortgage is paid off. The reason I want to know if the house is paid off is because of the economy. People are renting houses and not [...]
I’m not an economist (got a C in HS econ). But I’d be curious to know the affects of a wide spread mortgage forgiveness if the bank holding your loan goes under. Let’s say the only requirement to have your home free and clear is that you remain in it for 5 years. This would [...]
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