Connecticut Parents – How The Subprime Meltdown Will Impact You Paying For College

March 16th, 2022 by admin No comments »

If you are like thousands of Connecticut parents then you have no idea how the subprime mortgage real estate collapse and student loans are related. You probably would not know that the banks that were giving out hundred thousand dollar mortgages with adjustable interest rates without verifying income may now impact your child’s ability to get money for a Connecticut college or nationwide university.

Let me explain this in plain English.

When you take out a mortgage from a bank that bank turns around and sells your loan to another company. They do this because they get a fee from the buying bank in exchange for giving up future payments from you the consumer. That is why you get a notice in the mail that says your mortgage has been transferred to another servicer.

If you have an 8% rate on a thirty year fixed home loan then the bank expects all of the principal and interest payments as their source income for the next thirty years. However, the recent mortgage collapse was because banks gave out adjustable rate mortgages (ARMS) with rates that increased and left some people without the income to pay their mortgage or other bills. Therefore the bank that bought the home loan from your original bank is now stuck with a mortgage that is not generating any income, because the homeowner cannot afford the payment.

Well, if thousands of homeowners are defaulting on their payments with the banks that normally buy the mortgages as sources of monthly income then why would they continue to buy more? They do not. So the company that originally sold you your home loan cannot sell their mortgages and their business model is dependent on selling the mortgages. If they do not sell the mortgages they go out of business. That is exactly what happened the last 24 months.

Okay, how does this affect Connecticut student loans?

Well, the same banks that buy the home loans from mortgage companies also buy the student loans from Connecticut student loan lenders. So when the homeowners started defaulting they got scared that student loans were next, because after all if you could not pay your mortgage for the house you plan on living in, would you pay your student loan?

In an effort to help borrowers minimize the cost of Connecticut student loans and protect the Connecticut student loan lenders the government just passed several new laws that affect student loans. Including:
The minimum balances for loan consolidation will be increased to $10,000 to deter borrowers from refinancing small loan amounts will large upfront fees.

Consolidation loan discounts will be eliminated, with the possible exception of a 0.25% interest rate reduction for borrowers who sign up for auto-debit.

Lenders will discourage borrowers from consolidating their loans.

Many smaller lenders and consolidation-only lenders and marketers will exit the market, so there will be fewer education lenders.

Lenders will encourage borrowers to utilize private student loans, due to them making more money on those loans. Borrowers will need to beware of the higher costs of private student loans and avoid them until they’ve exhausted their federal education loan eligibility.

If you have a student in their junior or senior year of high school and planning to go to a Connecticut College then you must be aware of these changes and how they affect your child.

Connecticut parents find out how to send your child to the school of his or her dreams…without getting trapped in a financial nightmare of high rate, high payment, expensive debt! Click Here.

Reputation Management is the Answer How Your Business Is Perceived

February 25th, 2022 by admin 3 comments »

Is it true that you are keen on finding out about dealing with your standing? Have you been searching for accommodating and solid data? Indeed, this article will ensure you get a few strong ideas. It will assist you with sorting out some way to more readily deal with your standing.

Posting data via online media locales is essential to your business’ standing. You should post a few times each week at any rate to actually run an advertising effort. Assuming you see that posting via online media locales is overpowering, consider recruiting an aide to make your posts for you.

At the point when individuals invest in some opportunity to offer something about your business, it is vital that you are sufficiently gracious to answer. While you might be an extremely bustling individual, it shows your crowd that you really care about them and what they need to say. This is imperative to keep a consistent client base.

At the point when you talk with your crowd, ensure that you do as such in a conversational tone. Individuals try to avoid the possibility of entrepreneurs continuously addressing them with promoting to them. While you would like to make a deal, you ought to never cause a client to feel like this is your main concern.

Be grateful. Assuming somebody leaves a decent audit about your organization, send them an individual message and express gratitude toward them for their criticism. On the off chance that conceivable, send your client a coupon for a specific percent off on their next buy as a much obliged. In the event that this is preposterous, earnestly say thanks to them for their input.

Assuming you will utilize anybody’s thoughts, you ought to constantly make a point to give them credit for that. Everybody out there can advance a little from others, so giving due credit will show individuals that you don’t think you are over that. This is an extraordinary method for getting their appreciation.

On the off chance that you own a business, treat your representatives consciously. Any other way, you might foster a negative standing as an entrepreneur. Certain individuals won’t give you business as a result of it.

Check any regrettable web-based content on your organization by reaching its maker. Assuming there is at any point any regrettable substance when you do an inquiry of your organization, take a stab at reaching the commentator, blogger or whoever posted it at the earliest opportunity. Inquire as to whether there’s anything you can do change their negative feeling to a good one. Assuming they are reluctant to do as such, compose a comment(if conceivable) with your side of the story.