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Loans
 Websites presented in alphabetical order AARP: Reverse Mortgages 
 This site dedicated to providing information about reverse mortgages includes a reverse mortgage calculator, basic information about reverse mortgages, alternatives to reverse mortgages, the booklet "Home Made Money: A Consumers Guide to Reverse Mortgages," and more. From AARP. http://www.aarp.org/money/personal/reverse_mortgages/ Topics: Finance, Housing, Investing, Money Last updated Jul 29, 2009 About Fannie Mae
Overview of the private corporation that was originally established by the federal government in 1938 "to expand the flow of mortgage money by creating a secondary market." Provides a history of Fannie Mae and an overview of its efforts to increase "the availability and affordability of homeownership for low-, moderate-, and middle-income Americans." Further information about Fannie Mae can be found in the FAQ section of this official website. http://www.fanniemae.com/aboutfm/index.jhtml?p=About+Fannie+Mae Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Jun 20, 2007 Center for Responsible Lending (CRL)
This "nonprofit, nonpartisan research and policy organization [is] dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices." Its site features reports and other publications (some in Spanish) on topics such as payday loans and predatory lending, CRL testimony before federal bodies, and material about state laws and legislative activity, with links to recent news items. http://www.responsiblelending.org Topics: Consumer Research & Advocacy, Money Last updated Dec 13, 2006 Community Financial Services Association (CFSA)
This mission of this industry association of payday lenders is "to promote legislation and regulation that provides payday advance customers with substantive consumer protections while preserving their access to short-term credit options." Its website provides background about how payday loans work, advice about when payday advances are not appropriate, and a map showing allowed maximum fees for payday loans in the U.S. Also includes material for consumers, media, and policymakers. http://www.cfsa.net/ Topics: Money Last updated Feb 25, 2008 Don't Be a Victim of Loan Fraud
"Every year, misinformed homebuyers, often first-time purchasers or seniors, become victims of predatory lending or loan fraud." This consumer information resource from the U.S. Department of Housing and Urban Development (HUD) provides a definition of predatory lending, tactics used by predatory lenders, and tips on buying and financing a home. Includes a link to a list of HUD's housing counseling agencies. http://www.hud.gov/offices/hsg/sfh/buying/loanfraud.cfm Topics: Business, Consumer Research & Advocacy, Corruption & Fraud, Housing, Investing, Money Last updated Oct 14, 2003 FastWeb: Free Scholarship and College Searches, & Financial Aid Tools
The heart of this site is the scholarship search engine that lets Internet users search, without cost, a database of hundreds of thousands of U.S. scholarships, fellowships, internships, grants, and loans. Free registration allows you to set up a profile and mailbox that will automatically send you the latest scholarship information to fit your profile. http://www.fastweb.com/ Topics: College and University Education, Education, Money Last updated Oct 16, 2005 FinAid: The SmartStudent Guide to Financial Aid
Advice on and links to sources of information about student financial aid. Covers topics such as loans, scholarships, military aid, federal and state aid, fellowships, grants, prepaid tuition plans, study abroad, financial aid consultants, and scholarship search services. Offers financial aid resources for specific student populations (for example, international, disabled, female, minority, gay and lesbian) and programs of study (such as law school and medical school). http://www.finaid.org/ Topics: College and University Education, Money Last updated Jul 28, 2007 Financial Education and Tools
Contains information and interactive planning tools on savings, budgeting, home and car purchasing, investing, loans, education, retirement, and estates. From Bank of America. http://www.bankofamerica.com/financialtools/ Topics: Automobiles, Consumer Research & Advocacy, Finance, Housing, Investing, Jobs & Work, Money, Seniors Last updated May 29, 2005 GovLoans.gov
"Five federal agencies -- U.S. Department of Agriculture, U.S. Department of Education, U.S. Department of Housing and Urban Development, U.S. Small Business Administration, and the U.S. Department of Veterans Affairs -- have come together to create this single point of access for federal loan information on the Web." Browse or search for loans for farming, business, education, disaster relief, and more. Includes a glossary of loan terms and links to additional resources. http://www.govloans.gov Topics: Business, Charity & Nonprofit Resources, College and University Education, Consumer Research & Advocacy, Housing, Money Last updated Mar 25, 2006 How Pawnshops Work
This feature provides an explanation of the workings of pawnshops, which lend small amounts of money in exchange for collateral, and buy and sell used merchandise. It includes an example of a pawnshop transaction, an example of how a pawnshop is regulated in one state, details about paperwork and interest rates, description of what types of bargains might be found in a pawnshop, and related material. From HowStuffWorks. http://money.howstuffworks.com/pawnshop.htm Topics: Consumer Research & Advocacy, Money Last updated Dec 2, 2008 ILLWeb
"ILLWeb is a gateway to electronic and print resources pertaining to all aspects of interlibrary loan (ILL), document delivery, and resource sharing. Designed to be comprehensive and international in scope, ILLWeb features links to resources that will help practitioners locate materials for their clientele, manage the ILL process, and keep up with developments in the profession." http://www.law.northwestern.edu/lawlibrary/illweb/ Topics: Librarian Specialties, Librarianship, Money Last updated Apr 12, 2004 Interest.com
This site "provides the tools and review information that can assist consumers to make the best financial decisions. ... Features ... [include] financial calculators, mortgage charts, consumer articles and [free] e-mail newsletters." Covers mortgages, auto loans, credit card debt and management, home equity loans, bad credit and how to repair it, and investing basics. "Interest.com is an independent information service and is not affiliated with any lending institution." http://www.interest.com/ Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Oct 10, 2005 National Pawnbrokers Association: FAQ
This document from an industry organization answers questions about pawnbrokers, who "lend money on items of value. ... Since the customer is providing collateral, there is no need to do a credit check." It covers topics such as ways pawnshops avoid acquiring potentially stolen merchandise, how pawnbrokers are regulated, and the availability of firearms at pawnshops. From the National Pawnbrokers Association. http://www.nationalpawnbrokers.org/i4a/pages/index.cfm?pageid=3467 Topics: Money Last updated Feb 16, 2009 Nellie Mae Loan Link
Financial aid information center for high school, college students, graduate students, parents and financial aid officers. http://www.nelliemae.com/ Topics: College and University Education, Money Last updated May 24, 2003 Office of Federal Housing Enterprise Oversight (OFHEO)
"OFHEO's mission is to promote housing and a strong national housing finance system by ensuring the safety and soundness of Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation)." This site features analysis and documents, including news about the July 2008 efforts of the federal government to bolster the financial stability of these mortgage giants. Also includes an index of house price appreciation and related information for consumers. http://www.ofheo.gov Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Jul 14, 2008 Prosper: The eBay of Loans?
This 2006 article describes a new online financial service that "matches people who need small loans, but can't get them from traditional banks, with willing lenders." These person-to-person loans do not just "provide a new way for individuals to get small loans. It could also turn anyone with a little money into a banker." Discusses how Prosper works, payment processing, and potential problems with defaults. From Business Week. http://www.businessweek.com/technology/content/feb2006/tc20060213_147523.htm Topics: Consumer Research & Advocacy, Money Last updated Nov 6, 2007 Quicken Loans
This site "allows you to research home loans, learn about home financing, and apply and sign your application." Contains information and interactive tools on home refinance, purchasing, and equity loans. Searchable. https://www.quickenloans.com/ Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Dec 12, 2008 Reverse Mortgage Calculator
"This calculator provides approximate estimates for two nationally available reverse mortgage programs." The two loan programs used for the estimates are the federally-insured Home Equity Conversion Mortgage (HECM), and the Home Keeper Mortgage from Fannie Mae. Calculations are based on the age of the homeowner, and the value and location of the home. Includes links to additional material about reverse mortgages. From AARP. http://www.rmaarp.com Topics: Finance, Housing, Investing, Money, Ready Reference & Quick Facts, Seniors Last updated Dec 14, 2005 Reverse Mortgages for Seniors
"Reverse mortgages are a special type of home loan that lets a homeowner convert the equity in his/her home into cash." Includes basic facts, information about the Home Equity Conversion Mortgage (HECM) program from the HUD, a list of HUD-approved HECM counselors in each state, and related information. Also includes information for HECM lenders. From the U.S. Department of Housing and Urban Development (HUD). http://www.hud.gov/offices/hsg/sfh/hecm/hecmhome.cfm Topics: Finance, Housing, Investing, Money, Seniors Last updated Dec 14, 2005 Reverse Mortgages: Get the Facts Before Cashing In On Your Home's Equity
A fact sheet about reverse mortgages. Explains eligibility, the three main types (single-purpose, federally-insured, and proprietary), what to watch out for during the loan process, and alternatives to reverse mortgages. From the U.S. Federal Trade Commission (FTC). http://www.ftc.gov/bcp/edu/pubs/consumer/homes/rea13.shtm Topics: Housing, Investing, Money, Seniors Last updated Oct 25, 2007 Reverse Mortgages: Is One Right For You?
"This [2001] booklet outlines some of the things you should think about before applying for a Reverse Mortgage." Explains how reverse mortgages work, outlines advantages and disadvantages, warns against scams, and discusses alternatives to drawing down the equity of a home to supplement income. Opens directly into a PDF file. From the California Department of Real Estate. http://www.dre.ca.gov/pdf_docs/reverse.pdf Topics: Finance, Housing, Investing, Money, Seniors Last updated Nov 21, 2007 Student Aid on the Web
This site from the U.S. Department of Education's Federal Student Aid (FSA) program describes funding and loan repayment considerations relating to attending schools from elementary through graduate. Also find information about preparing for college, selecting a school, and applying to a program. Provides information for students, parents, and counselors. Available in English and Spanish. Searchable. http://studentaid.ed.gov/ Topics: College and University Education, K-12 Education, Money Last updated Oct 1, 2003 The Student Guide
Comprehensive student financial aid information from the U.S. Department of Education. Includes the three major forms of financial aid available via the federal Student Financial Assistance Programs: grants, loans, and work-study. It is updated each award year and has information on each program as well as how to apply. Also available in Spanish. http://studentaid.ed.gov/students/publications/student_guide/index.html Topics: College and University Education, Money Last updated Feb 29, 2004 There's No Place Like Home: The Implications of Reverse Mortgages on Seniors in California
This report, issued in 1999, remains timely on the issue of reverse mortgages for seniors, particularly in the area of the cost of the mortgages relative to the income received and on the distinctions between government-issued and private loans. The report explains how reverse mortgages work, warns against scams, discusses alternatives, and strongly recommends financial counseling (required for some types of government-issued reverse mortgages). From Consumers Union. http://www.consumersunion.org/finance/revinfowc899.htm Topics: California: People, Finance, Housing, Investing, Money, Seniors Last updated Dec 14, 2005 What You Should Know About Home Equity Lines of Credit
Questions and answers about the "form of revolving credit in which your home serves as collateral." Discusses what to look for when shopping for a home equity plan, the costs involved, repaying the loan, and lines of credit versus traditional second mortgage loans. Includes a checklist for comparing loans. In English and Spanish. From the Federal Reserve Bank. http://www.federalreserve.gov/pubs/equity/equity_english.htm Topics: Consumer Research & Advocacy, Money Last updated Jun 29, 2004 |
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