Understanding Student Loans Deferment and Forbearance

What is Student Loans Deferment? Student loans deferment or forbearance is the arrangement that allows you to temporarily suspend the repayment of your student loans with or without interest being accrued for a specified period. Student loans deferment and forbearance are applicable to Federal Student Loans. Some people use the terms “student loans deferment” and “student loans forbearance” interchangeably. But unfortunately, the two terms are not the same. While the two arrangements help you to postpone the payments of your student loans for a specified period, student loans deferment may not accrue interest during this period while forbearance will definitely Continue ReadingUnderstanding Student Loans Deferment and Forbearance

Student Loan Consolidation Facts You Need to Know

How to Consolidate Student Loans Are you considering student loan consolidation as a solution to your student debts challenge? You need to first find out whether it will help you achieve your objective. What is student loan consolidation? I will define this with explanation. As you know that it is possible for a student to obtain student loans from different loan servicers before he finally graduates from school. Let’s assumes that you accumulated total debts of $34,000 from eight different loan servicers in order to pay for your tuition fees and other expenses while at college. The implication of this Continue ReadingStudent Loan Consolidation Facts You Need to Know

Mortgage Refinancing: Important Facts You Need to Know

What is mortgage refinancing? Mortgage refinancing in a layman language means that you are taking new mortgage loan to replace the existing one. Opportunity to refinance mortgage by homeowners is one of the advantages you can enjoy when you own your own house. Apart from the fact that the home serves as a place of abode for you, it is actually an investment. Besides, if you have a good equity in your home, it can also be a source of cheap loan to you. If you choose to refinance your mortgage, the new mortgage loan usually comes with new terms Continue ReadingMortgage Refinancing: Important Facts You Need to Know