The quick answer for Mortgage-backed securities or MBS are bonds secured by home and other real estate loans. A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. This security must also be clustered in one of the top two ratings as determined by an […]
How Much Tips Waiters and Bartenders Get?
People working in the service industry such as restaurant workers typically rely on tips for a majority of their income. To know how much tips waiters and bartenders get, here is the big picture. In the US in the year 2015, according to the federal regulation, the minimum average hourly wage for waiters and bartenders […]
How to Raise FICO Score?
In finance, FICO score is a person’s credit score calculated with software from Fair Isaac Corporation (FICO). Improving FICO credit score means improving chances of obtaining a mortgage, but it could improve auto insurance premiums and, possibly, making a person a more attractive employment candidate. FICO scores range from 300 to 850. Mortgage applicants get the […]
Ways to Pay Off Any Loan Faster
Whether it is consumer debt on credit cards, student loans or a mortgage, most people find themselves weighed down by debt at some point in their lives. Having this financial burden will add more stress in life. By paying loan faster it will definitely help to reduce the pressure. Here are steps that can ease […]
Overdraft and Cash Credit: What is the Difference?
In term of a loan, there are two options of loan can be taken for business, long-term funding like LAP (Loan against property) or to go for flexible funding like Cash Credit (CC) or Overdraft (OD) that operates in the shorter period of time. The flexible fund is gaining popularity because flexible funding gives the […]
The Best Ways to Start to Rebuild Credit Score after a Bankruptcy
Any business or individual who has to file for bankruptcy will definitely go to see a negative impact on their credit score. The reason is that the lenders rely on the credit score as one of the consideration for approval in loan and credit at any interest rate. The credit score normally ranges from 300 […]
Five Cs of Credit: Method for Evaluating Potential Borrowers
Financial institutions such as banks that provide loans and credits normally asked both individual and business borrowers to provide information related to their credit history, income and debt when applying for credit. They use the Five Cs system to evaluate the potential borrowers. The financial institutions as lenders, in particular, are eager to research and […]
What are the Differences between Demand Deposits and Term Deposits?
The term of deposits is often used in many financial institutions such as the bank. These are part of their products and services they offered. Bank deposit can be divided into 2 major categories, namely demand deposits and term deposits. In short, a demand deposit is a sum of money or fund given to the […]
What’s the Best Way to Finance a Car?
Desperately need a car? Buying a car is no simple decision. From buying outright to buying a car on finance, there are many options. You also have to consider running costs. In fact, it’s probably the second most expensive thing after a home. In addition to that, car value is depreciated like crazy over the […]
Credit Cards and Debit Cards: What are the Differences?
Both cards we used them in the daily basis and offer convenience in term of payment. The primary difference between a debit card and a credit card account is where the cards draw the money. A debit card takes it from banking account and a credit card charges it to the line of credit. Before going […]
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