Image via Wikipedia The Federal minimum wage is increasing:
Previous Federal Minimum Wage:
$5.15
New Federal Minimum Wage:
$5.85 - July 24th, 2007
$6.55 - July 24th, 2008
$7.25 - July 24th, 2009
The unemployment rate just surged to 6.1% - still historically low - but in comparison to the 4-5% rates the nation has enjoyed in the last three or four [...]

Peer-to-Peer Lending - Social Lending - P2P Loans - microfinancing - all part of the Web 2.0 trend of adding “social” to any activity and creating something new. Instead of going to a bank for a loan, a borrower works with a group of her peers to finance the loan. The social aspect [...]

Image via WikipediaYes, I waited until the last minute - almost. I am trying to submit my taxes via TurboTax and just got the following message:
The Intuit Electronic Filing Center is experiencing unusually heavy demand and is unable to accept returns at this time. It’s not necessary to contact Customer Service or Technical [...]

photo credit: pfalaRateLadder wrote up an interesting piece - Big Lending Club News — Quiet Period Underway for Secondary Market - about an email he received from Lending Club about a major change in how they are going to go about their business. Oddly enough he mentions that he got this info via [...]

Will the Fed go another 25 basis points in October? Or is 50 enough for the near future? Tomorrow morning the latest inflation rate will be released. The government metrics for inflation seems to be a bit 19th and 20th century. When was the last time you saw an iPod or [...]

I set up a Prosper loan to fund a new air conditioning a couple of days ago. I got this note from Tom, who writes the Prosper Lending Review blog:
I just checked out your loan. I’m a Prosper lender (and blogger). It’s too bad you live in VA which has a rate cap on [...]

You have any money to lend? Check out Prosper and earn 8-12% interest while helping out people who need loans.
Here is the deal - I need a new air conditioning unit, so I am trying to borrow the cash at Prosper. If you have some cash and want to make a decent interest [...]

First, a little topical context. As of the last week in August, the average 30 year mortgage rate is hovering just below 6.10%. Only two and a half months ago the rates were closer to 6.5%. What caused such a precipitous move in rates? Keep in mind the several year campaign [...]

Is there really a recession possible in the near-term? I just saw this on Yahoo:
Feldstein, who warned of a “multiplier effect” from declining home prices and lower consumer spending, said a cut of as much as 100 basis points might be warranted.
Wow - 100 basis points. I had been hoping for a 50 [...]

Did you ever realize the difference that your credit score can make on your monthly payments?? Take a look at the payments you would be making depending on your FICO score (FICO is the main provider of credit scores to the vast majority of financing decision makers) for a $300K 30 year mortgage:

FICO score
APR
Monthly [...]

Are we in the midst of a housing market meltdown? Can the sub-prime mortgage market’s problems seep into the mainstream economy and affect the availability of credit to everyone looking for a loan - good credit or bad? Well, a meltdown in prices is dependent on when you purchased your home - if [...]

Mortgage rates on the standard 30 year term seem to have peaked at 6.40% in July and have started to trend down again. The constant battle between those who feel the economy is in or headed towards recessions versus those that see the economy as stable continues to rage on. The demand for [...]

The licensed mortgage brokers are professionals authorized to request mortgage loans, accept applications, and negotiate the terms and conditions of a loan with a client that needs to buy a real estate property. The main tasks of this assistant would be to arrange the commercial accounts, assist the clients in mortgage issues, make the feasibility [...]

Everyone needs a little help every now and again - your car breaks down - the dog is sick - a paycheck is late - and all the money you have saved up under the mattress has gone missing. When an emergency is truly an emergency (not a - I gotta take a vacation [...]