What are some companies with the best mortgage rates?

It is not wise to give a list of companies with the best mortgage rates at any one point in time. Far better, if you are in the market for a mortgage, to find a good mortgage broker local to you. A Mortgage broker is a home loan intermediary who works on your behalf to link your requirements to the best mortgage lender. You don’t pay the mortgage broker, rather they make commission from the savings and loan or other lenders. A mortgage broker does not lend you money but can save you a great deal of money with the best loan for your circumstances.

How to judge a good mortgage broker? The starting point is a mortgage broker who is a member of the industry body. The MBAA or Mortgage Bankers Association of America. This organization requires a minimum level of experience and a minimum certification as well as insisting on ongoing professional development. Best of all MBA members adhere to an ethical code of practice and have professional indemnity insurance.

The Internet is the place to start your search for a mortgage brokers. Try www.mbaa.org where you will find a state map to home in on your area. Call them to see if you can build rapport with them. Compare them on how clearly they respond to your questions. Do they listen or do they push their own agenda mortgage that earns them most commission? Ask around for word of mouth recommendations in your neighborhood. Do their previous clients talk them up?

A good professional mortgage broker will elicit from you the long-term view of your circumstances. Their knowledge will be of a wide spectrum of lenders financial products and home-buying initiatives. They will clearly state the alternate mortgages, fees and charges.

Professional mortgage brokers will use computers to narrow down your options from thousands of mortgages and not just on the best rates. A good mortgage broker will speak to you in plain English, and facilitate the best mortgage for you at the time.

A mortgage broker will show you all kinds of mortgages with genuine savings. Their services are generally free for arranging a typical mortgage but be sure you are aware of any charges. A good mortgage broker relationship will ensure that you get a regular mortgage review and guidance when it comes time to refinance.

The best mortgage rates are to be found through a mortgage broker but remember the lowest rate may not equal the best mortgage.

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What is a cash advance loan? Is an installment loan a good idea?

A cash advance loan is money borrowed very short term. Just until your next payday in fact. Cash advance loans are often called ‘payday’ loans. An installment loan is simply money borrowed too but is repaid in time, on time, with an agreed number of scheduled repayments, usually monthly. The term of loan can be anything from a few months to as long as 30 years. A mortgage is a type of installment loan but secured against the borrowers property.
For any loan, whether it is a cash advance or an installment loan is only a good idea when you are sure you will have the cash flow to repay it.
Are cash advance loans a way to avoid a negative bank balance? Certainly they are and there is problem in using cash advance services as long as you are sure of the money coming in to meet the repayment. It is probably better to pay your bills with a cash advance loan than to give your credit score a dent because you failed to pay that bill.
The big drawback with cash advance loans is they are just too expensive. The typical APR is between 350 – 650% according to the Consumer Federation of America. In cash terms this means that a cash advance loan of $100 means a repayment of between $115 and $130. Then of course failure to repay on time will mean a rollover loan and an additional fee every time the borrower has to roll it over. Rollover 3 times and it could cost $160.
Cash advance loans could be a slippery slope to more debt. If you find yourself in need of a cash advance loan there you are also in need counseling from non-profit debt relief organizations. Such advisors can help with cutting your current interest rate charges and your monthly repayments.
So if you find yourself relying on cash advance loans between paydays you should see it as a sign of deeper budgeting problems and look for the services of a certified financial planner who can help you get back on track and avoid the use of credit.
An installment loan is a preferred alternative to a series of cash advance loans and so it is a good idea in this sense. A far better idea than either is to seek out and implement as many money saving ideas as possible.

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What are some good companies that provide debt consolidation loans? Are these loans a good idea? How do you choose a debt consolidation company?

Put simply debt consolidation loans are just larger loans that pay off several other smaller loans. They can be very helpful in helping people to reduce their overall debt repayments but debt consolidation loans also have their downsides. They are helpful in circumstances where the debtor is trying to keep up with several different loans and can simplify things down into one monthly statement and one, hopefully lower, monthly payment.

Also, you’ll find that your monthly debt payments decrease if you use a debt consolidation program that stretches your payments out over a longer period of time. This means that you’ll pay out less each month and you can free up some cash.
A tempting (and sometimes successful) strategy is to use a debt consolidation program to manage various high-rate revolving debts. As an example, you might have numerous credit card balances with high interest rates. With a debt consolidation program, you might be able to get a handle on that debt and lower the interest rate (APR) that you’re paying. In general, credit cards have higher rates and secured loans (such as home equity loans) have lower rates.

Debt consolidation loans do not get rid of your debt. Sooner or later you will have to cut down your spending and funnel all your resources into debt repayments. The big downside of debt consolidation loans is that you may feel as though you are dealing with your debts when in fact you are simply stretching out the time period for repayment.

Another big downside of debt consolidation is that you will probably end up paying more in interest with debt consolidation loan over the full lifetime of the loan than you would with your current debts. The upside is that you can more easily manage your cash flow now and if this is part of a long term plan to become debt free then that is a good thing.

Debt consolidation loans are just like any other product and you should shop around to find the one that best meets your requirements. Check out your
local credit unions or your current bank in the first instance. These are reputable sources and will give you a fair deal, and you should be communicating with them anyway about your debts.

The Internet is a helpful place to look for debt consolidation and checkout ‘person to person’ loan sites. Try to avoid unasked for junk mail offerings.
Look for advice on managing your credit and maintaining your credit score because loans are most difficult to come by just when you need them most.

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First Time home buyer credit explained

I am buying my first home, how do I qualify for the first time home buyer credit? What things should I know when purchasing my first home?

If you are looking to take advantage of the first-time home buyer credit, the first thing you need to know is that time is running out. First-time home buyer credit is only available on home sales closed before July 1, 2009.
Having got that clear to begin with now what exactly is the ‘first-time home buyer credit’? First and foremost it is a tax credit. This means that it will be paid back to you by the government because you paid it in the first place through your taxes. The first-time home buyer tax credit is up to one tenth of the price you pay for your first home. But there is a ceiling on the amount of this credit and that is $7500. A single person (or a married person who files their tax return as though single) buying a house has the tax credit capped at half this amount
The best way to think of the first-time home buyer credit is as a loan. Most importantly, because this is what makes it worthwhile, is that it is an interest free loan. Yes you have to pay it back, but it is really easy to do this. Two years after you get the money you start the repayment installment plan. The repayments will be taken in tax deductions and means $500 every year for 15 years.
If you sell your house you would of course be required to repay the outstanding balance from the proceeds of your sale. If you didn’t make any money on your sale you would not be required to repay the balance. If you die before the tax credit is paid back in full the debt dies with you.
The aim is to help people on lower incomes to own their own homes so if you earn over $75,000 gross (modified and adjusted) the tax credit begins to reduce. For couples the earnings threshold is $150,000. Over $95,000 for singles and $170,000 for couples and you can forget the first time home-buyer credit altogether.
A word of caution is to never borrow more than you can afford to repay. This is the basic cause of the financial crash of 2008 with the so-called ‘subprime’ real estate loans.

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Who pays the best interest on CDs and money market funds?

Certificates of deposit or CDs for short are short-term money market saving products. Certificate deposit rates of interest, sometimes called the yield, are issued by banks. CD rates on savings are normally fixed interest rates that run for a preset period of term.

The rate money market for CDs is a movable feast. To get the best deal at any point in time you need to use any one of many certificate deposit comparison websites. Where certificate deposit rates will be listed with the best ones at the top and all of the other certificate deposit criteria in a matrix for comparison. Other things to think about besides the certificate deposit rate of interest are the terms and starting dates, the annual percentage yield (APY) and the minimum deposit levels.

Bankrate.com have a nifty CD calculator where you simply enter the figures for the CD you are considering and it returns the value figures for them and you can compare all the rate money market offerings.

‘No-penalty’ certificates of deposit are just what they say they are. They allow the buyer to take out their savings before the end of the term and do not charge them a penalty fee. This gives the CD holder greater liquidity and convenience. At times when interest rates are rising, this is an opportunity to take the profit of better rates.

Of course there is always a price to be paid and the downside of no penalty CDs is that the interest rate is often much less than you’d get on a common CD of a comparable term. But that is not a drawback when you feel sure that rates will rise and you’re OK with the additional cost to take advantage of these types of rate money market.

On the other hand, in a declining rate money market, a no-penalty CD provides the holder with a guaranteed rate and the facility of quick cash withdrawal against, say, bank deposit accounts where the rate can vary. However if a no-penalty CD is what you require, simply because of the safer low risk reassurance that CDs give, and you also want optional cash flow, be sure to check out all your alternatives to ensure you are getting the best deal.
No-penalty CDs come with many pseudonyms and they can vary greatly in terms and conditions, but the basic feature is always the same: You can get at your money without paying through the nose.

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Reverse mortgages becoming attractive alternatives as baby boomers enter retirement

A reverse mortgage (or lifetime mortgage) is a loan available to seniors, and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner’s obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves (e.g., into aged care). A reverse mortgage is analogous to an annuity where the principal and interest are paid with homeowner’s equity.

In a conventional mortgage the homeowner makes a monthly amortized payment to the lender; after each payment the equity increases within his or her property, and typically after the end of the term (e.g., 30 years) the mortgage has been paid in full and the property is released from the lender. In a reverse mortgage, the home owner makes no payments and all interest is added to the lien on the property. If the owner receives monthly payments, or a bulk payment of the available equity percentage for their age, then the debt on the property increases each month.

If a property has increased in value after a reverse mortgage is taken out, it is possible to acquire a second (or third) reverse mortgage over the increased equity in the home. But in certain countries (including the United States), a reverse mortgage must be the only mortgage on the property.[citation needed]

Reverse mortgages in the United States


To qualify for a reverse mortgage in the United States, the borrower must be at least 62 years of age. There are no minimum income or credit requirements, but there are other requirements and homeowners should make sure that they qualify for the loan before they invest significant time or money into the process. For most reverse mortgages, the money can be used for any purpose; however, the borrower must pay off any existing mortgage(s) with the proceeds from the reverse mortgage and, if needed, additional personal funds. A pending bankruptcy which has not been finalized may, however, slow the process. Some types of dwellings do not qualify, while others (like mobile homes) have special requirements (such as being on an approved permanent foundation and built after 1976) in order to be approved. Before borrowing, applicants must seek third party financial counseling from a source which is approved by the Department of Housing and Urban Development (HUD). The counseling is a safeguard for the borrower and his/her family, to make sure the borrower completely understands what a reverse mortgage is and how one is obtained.

Reverse mortgage proceeds

The amount of money available to the consumer is determined by five primary factors:

  • The appraised value of the property, whether any health or safety repairs need to be made to the house, and whether there are any existing liens on the house.
  • The interest rate, as determined by the U.S. Treasury 1 year T-Bill, the LIBOR index or 1 Year CMT.
  • The age of the senior (The older the senior is, the more money he/she will receive).
  • Whether the payment is taken as line of credit, lump sum, or monthly payments. Line of credit will maximize the money available, while lump sum provides the cash immediately, but the interest fees are the highest. Monthly payments are set up as a “Tenure” payment. Borrowers receive them for the rest of their lives no matter how long they live.
  • The location of the property, and whether the maximum loan amount is subject to the maximum loan limits. These limits change on a county by county basis. There are also efforts to create a national maximum, so you need to check periodically for those numbers. If those numbers go up in your area, you can refinance the reverse mortgage and increase the funds you receive.

All these factors contribute to the Total Annual Lending Cost (TALC) as defined by the US Federal Government Regulation Z, the single rate which includes all the loan costs. The specific formulas to calculate the impact of the factors listed above can be found in Appendix 22 of the HUD Handbook 4235.1.[1]

There is also a type of reverse mortgage for homes valued over the maximum Fannie Mae limit. These are called “cash” accounts, and are proprietary loan products. The money received (loan advances) are not taxable and do not directly affect Social Security or Medicare benefits. However, an American Bar Association guide[2] to reverse mortgages explains that if borrowers receive Medicaid, SSI, or other public benefits, loan advances will be counted as “liquid assets” if the money is kept in an account (savings, checking, etc.) past the end of the calendar month in which it is received. The borrower could then lose eligibility for such public programs if his or her total liquid assets (cash, generally) is then greater than those programs allow.[3]

It is important to note that the homeowner must ensure that taxes and insurance are kept current at all times. If either taxes or insurance lapse, it could result in a default on the reverse mortgage.

Once the reverse mortgage is established, there are no restrictions on how the funds are used. In addition to the tenure monthly payments, the borrower has the option of moving the entire amount of money into investments, or they can simply take the money and spend it as they wish.

Among the options of interest bearing instruments, the borrower can keep them with the lender and (These accounts usually pay more than the interest rate of the loan), move the funds to a directed account with a financial specialist (This option is risky unless you direct the investment options of the financial specialist), or withdraw the funds and manage their investment themselves.[citation needed]

HECM vs. Jumbo

The HECM is the most popular reverse mortgage (accounting for nearly 90% of all reverse mortgage loans in 2007) because it generally offers the highest amount of money to homeowners of average-valued homes – usually homes valued under $400,000. While an owner of an average-valued home is able to apply for a Jumbo loan (the eligibility for either loan does not change), he/she would likely receive a larger loan amount with a HECM. For homeowners of higher-valued homes, a Jumbo reverse mortgage will usually enable the homeowner to borrow significantly higher amounts of money. [4] Below is a chart that shows how the available principle limits[5] will vary depending on the home’s value and the plan chosen.

Location Home Value Outstanding Mortgage/
Age of Borrower
HECM Loan Amount Jumbo Reverse Mortgage
Loan Amount
Beverly Hills, CA $200,000 0 / 70 yrs old $117,157 $69,222
Beverly Hills, CA $1,000,000 0 / 70 yrs old $219,111 $361,538
Palm Beach, FL $200,000 0 / 70 yrs old $114,787 $68,037
Palm Beach, FL $1,000,000 0 / 70 yrs old $214,769 $355,584

While the chart above is based only on estimates, it is an accurate explanation of how a HECM plan compares to a Jumbo plan. A lower valued home would benefit more from a HECM, but as the value of a home increases so does the benefit from a Jumbo plan. The owner of a home valued at $1 million could potentially borrow double the amount with a Jumbo loan.

The structure of a Jumbo Reverse Mortgage is very similar to a standard HECM – you are able to tap into the equity of your home and will not be obligated to pay it back until the home is no longer used as your primary residence (in the event of your death or should you decide to move). There are no monthly loan payments with either loan and the money you take out can be used for any purpose. Like the HECM, the amount you owe on the Jumbo loan will never exceed the value of the home.

The real difference between the two loans is determined by the value of the home. However, another difference involves interest rates. Interest rates charged on Jumbo Reverse Mortgage loans are sometimes higher than those on a HECM loan. However, a Jumbo Reverse Mortgage will only charge you interest on the sum of money you actually use from a line of credit which is available to you. And, as with all Reverse Mortgages, you will never owe more than the value of the home. Also, as long as you continue to live in the home, you will always retain ownership. [6]

Costs and interest rates

The cost of getting a reverse mortgage from a private sector lender may exceed the costs of other types of mortgage or equity conversion loans. Exact costs depend on the particular reverse mortgage program the borrower acquires. For the most popular type of reverse mortgage in the U.S., the FHA-insured Home Equity Conversion Mortgage (HECM), there is an insurance premium of 2% of the loan and a 2% origination fee in addition to normal closing costs, which are typically several thousand dollars, but vary depending on the third-party costs (appraisal fees, title searches, etc.) which must be undertaken. Thus a $200,000 loan would have $8,000 in costs beyond the normal closing costs added onto the loan at the outset. Other programs skip the insurance premium but still require the origination fees and closing costs, and some programs waive the initial costs if the borrower borrows all or most of the maximum amount he or she is eligible to receive. In addition, a monthly service charge (between $25 and $35) is usually added to the total amount of the loan.

In all of these cases, the costs of a reverse mortgage can typically be financed with the proceeds of the loan itself, with the costs and fees being rolled directly into the principal balance of the loan, rather than paid by the borrower in cash. While this does permit borrowers with little or no available cash to get a reverse mortgage, it means that the initial loan principal will be increased, and consequently, that the fees will begin accruing interest. Since there are no payments made during the course of the loan, the compound interest accrued on the principal plus fees are added to the principal of the loan.

Interest rates on reverse mortgages are determined on a program-by-program basis, because the loans are secured by the home itself, and backed by HUD, the interest rate should always be below any other available interest rate in the standard mortgage marketplace for an FHA reverse mortgage.[citation needed] Prior to 2007, all major reverse mortgage programs had adjustable interest rates. Such adjustable rate reverse mortgages are still being offered which are adjusted on a monthly, semi-annual, or annual rate up to a maximum rate.

Several lenders now offer FHA HECM reverse mortgages that have fixed interest rates.[7] Some of these mortgages have interest rates that are similar to the current FHA/VA rate plus the mandatory mortgage insurance premium.[8] Some fixed rate reverse mortgages limit the cash proceeds to half of that offered by adjustable rate reverse mortgages.

Some state and local governments offer low-cost reverse mortgages to seniors. These “public sector” loans generally must be used for specific purposes, such as paying for home repairs or property taxes[3], but most of them are insured by the Federal Housing Administration (FHA) and often have more favorable interest rates and fewer or no fees associated with them. These programs are typically very restrictive in terms of qualification and location, and many regions, states, and areas do not have such programs at all.[9]

HUD counseling

To apply for an FHA/HUD reverse mortgage, a borrower is required to complete a 45-minute counseling session with a HUD-approved counselor. The counselor will explain the legal and financial obligations of a reverse mortgage. After the counseling session, the borrower receives a “certificate of counseling” that is required before the loan application can be processed.

Related taxes

The American Bar Association guide[2] advises that generally,

  • the Internal Revenue Service does not consider loan advances to be income,
  • annuity advances may be partially taxable, and
  • interest charged is not deductible until it is actually paid, that is, at the end of the loan.
  • The mortgage insurance premium is deductible on the 1040 long form.

When the loan ends

The loan ends when the homeowner dies, sells the house, or, depending on the loan conditions, moves out of the house for 12 consecutive months (for example, to go into an assisted living home or due to physical or mental illness the borrower is not able to live in the property on which the loan has been taken). At that point, the reverse mortgage can be paid off with the proceeds of the sale of the house, or if the borrower has died, the property can be refinanced by the heirs of the homeowner’s estate with a regular mortgage. If the proceeds exceed the loan amount including compounded interest and fees, the owner of the house receives the difference. If the owner has died, the heirs receive the difference. For cases where the proceeds are not sufficient to pay off the loan, then the bank (or insurance which the bank has on the loan) absorbs the difference.

The technical term for this cap on debt is “non-recourse limit.” It means that the lender does not have legal recourse to anything other than the value of the home when the loan is to be paid off.[3]

In most cases when the borrower moves out of the property or dies, as long as the borrower (or his estate) provides proof to the lender that he/she is attempting to sell the home or obtain financing to pay off the outstanding debt, the investor will allow him up to one year to do so. After the one year extension period is up, the lender cannot provide any further extension of time to the borrower (or estate).

Volume of loans

Home Equity Conversion Mortgages account for 90% of all reverse mortgages originated in the U.S. As of February 2007 the federal cap of 275,000 HECM loan guarantees had been issued since the program’s inception in 1989. Legislators subsequently suspended the cap until September 1, 2007 allowing additional HECM loan guarantees to take place.

Program growth in recent years has been very rapid. The National Reverse Mortgage Lenders Association (NRMLA)[10] reports that 55,659 HECM loans were endorsed through the first nine months of fiscal year 2006, an 83% increase over the 30,404 loans endorsed during the same period in the prior fiscal year.

Section 255 of the National Housing Act, which governs the HECM program, limits the aggregate number of outstanding HECMs to 250,000. The cap could possibly be reached in 2007 or 2008, and efforts are currently underway to remove or increase the limit.

Other options

A significant drawback to reverse mortgages are the high upfront costs. This upfront cost is tempered by the lower interest rate over time, but some seniors choose other options to draw on their home equity, particularly if they don’t plan to remain at the property more than five years.

Other options which can free up home equity but avoid the high upfront costs of a reverse mortgage include: 1) intra-family loan or sale-leaseback and, 2) selling and moving to a less expensive dwelling or location. However, when selling the homeowner incurs high closing costs including, typically, a 6% commission, moving costs, and purchase costs on the new dwelling. Currently, there is a coordinated government program called “Aging in Place” intended to assist homeowners wishing to remain in their home and/or neighborhood. Studies conducted by various agencies, including AARP, show that over 80% of elderly homeowners do not want to move.[citation needed]

No cost and low cost reverse mortgages are available for those homeowners who anticipate moving from the home in the near future. These ‘no cost’ mortgages do carry higher interest rates than the standard monthly FHA HECM (reverse mortgage). For example, they may select a home equity line of credit (HELOC), requiring interest-only payments for 10 years. These loans typically have very low (or zero) upfront costs. HELOC interest rates are usually based on the prime lending rate and are therefore often higher than the FHA monthly HECM, which is based on the one-year constant maturity U.S. Treasury rate.


As recently as December 2007 the Senate Committee on Aging spent time discussing the aggressive marketing and sales techniques being used by mortgage institutions to attract senior homeowners into purchasing reverse mortgages. As larger populations of seniors are turning 63 every year, the demand for reverse mortgage loans is on the rise. There was a 56% increase in these types of loan in 2006 from the prior year. The Federal government in December 2007 removed the restrictions on the number of outstanding reverse mortgage loans they would underwrite at any given time. Prior to the new legislation, the original limit was 275,000.

References (from this article on wiki)

  1. ^ Department of Housing and Urban Development, HUD Guide, Appendix 22
  2. ^ a b Reverse Mortgages: A Lawyer’s Guide, American Bar Association, 1997.
  3. ^ a b c Reverse mortgages Information From AARP
  4. ^ Reverse Mortgage Observer – Common Questions and Answers
  5. ^ Reverse Mortgage Guides – Online HECM calculator
  6. ^ Reverse Mortgage Observer – HECM vs. Jumbo
  7. ^ BusinessWeek, Pumping Up Your Reverse Mortgage
  8. ^ Fixed rates return to reverse mortgage programs
  9. ^ Low-Cost Public Loans, AARP.org, American Association of Retired Persons
  10. ^ NRMLA – Consumer site administered by the National Reverse Mortgage Lenders Association

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Debt consolidation loans – remove the stress from your back

Debt consolidation entails taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan.

Debt consolidation can simply be from a number of unsecured loans into another unsecured loan, but more often it involves a secured loan against an asset that serves as collateral, most commonly a house. In this case, a mortgage is secured against the house. The collateralization of the loan allows a lower interest rate than without it, because by collateralizing, the asset owner agrees to allow the forced sale (foreclosure) of the asset to pay back the loan. The risk to the lender is reduced so the interest rate offered is lower.

Sometimes, debt consolidation companies can discount the amount of the loan. When the debtor is in danger of bankruptcy, the debt consolidator will buy the loan at a discount. A prudent debtor can shop around for consolidators who will pass along some of the savings. Consolidation can affect the ability of the debtor to discharge debts in bankruptcy, so the decision to consolidate must be weighed carefully.

Debt consolidation is often advisable in theory when someone is paying credit card debt. Credit cards can carry a much larger interest rate than even an unsecured loan from a bank. Debtors with property such as a home or car may get a lower rate through a secured loan using their property as collateral. Then the total interest and the total cash flow paid towards the debt is lower allowing the debt to be paid off sooner, incurring less interest.

Because of the theoretical advantage that debt consolidation offers a consumer that has high interest debt balances, companies can take advantage of that benefit of refinancing to charge very high fees in the debt consolidation loan. Sometimes these fees are near the state maximum for mortgage fees. In addition, some unscrupulous companies will knowingly wait until a client has backed themselves into a corner and must refinance in order to consolidate and pay off bills that they are behind on the payments. If the client does not refinance they may lose their house, so they are willing to pay any allowable fee to complete the debt consolidation. In some cases the situation is that the client does not have enough time to shop for another lender with lower fees and may not even be fully aware of them. This practice is known as predatory lending. Certainly many, if not most, debt consolidation transactions do not involve predatory lending.[citation needed]

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Wachovia shopping itself; Wells Fargo, Citigroup are big dogs in on the bid

Another massive bank, another huge financial shake-up about to take place. Federal regulators have been busy lately, to say the least. To think this is gonna end any time soon is wishful thinking. In the coming days something large will likely take place once again in the dilapidated banking industry. Stay tuned to a national bank near you.

Wachovia Corporation (NYSEWB), based in Charlotte, North Carolina, is the fourth largest banking chain in the United States based on total assets.[5] Wachovia is a diversified financial services company that provides a broad range of banking, asset management, wealth management, and corporate and investment banking products and services. It is one of the largest providers of financial services in the United States, operating financial centers in 21 states and Washington, D.C., with locations from Connecticut to Florida and west to California.[4] It also serves retail brokerage clients under the name Wachovia Securities nationwide as well as in six Latin American countries, and investment banking clients in selected industries nationwide. Wachovia provides global services through more than 40 offices around the world.

On September 26th, 2008 it was reported that Wachovia has entered into preliminary merger talks with a handful of suitors including Citigroup, Wells Fargo and Banco Santander SA.[6][7]

Check out these excellent used office furniture and used cubicles.

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Where can I find the best interest rates on CDs and or savings accounts?

A common question I hear asked is “where can I find the best rates on ….fill in the blank.” Well, to answer your question, you have many options, like checking with your local banks in your area, or a better option would be to go to a place like bankrate.com and find the best rates nationwide. Let me ask you this, why would you invest your money at a lower rate at a local bank when you can compare rates across the nation and get much higher returns. Not to mention, with places like Bankrate, it takes just one quick second to check online, versus having to call various banks and or having to stop at each one. I hope this helps.

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