5%
I think it means Lending money to people who have bad credit at a lower interest rate ex; ARMS. and then when interest rates go higher , these people can't afford there payments, and end up in forecloseure Some of these loans were 100%+ financing. Meaning if the price of the house drops by 1% the owner would be in the red. If they ever sold the property at a lower price they would not be able to cover the cost of the loan.
there are two syllables
if you can afford 700 each month you can borrow 1000 x 100 = 100,000
The firm can afford to hire more workers.
If you can afford it, carry a banker's order for a billion pounds in your pocket while you are in a plane!
5%
Finance charges are billed on any revoling balance. What determines what you pay is the balance at the closing of you monthly statment!!! The key is to pay more than the minimum. On average to avoid interest on credit cards do not carry a revolving balance to avoid interest. Tip: only charge what you can afford to pay!!!!
It is a mortgage that charges less interest than the market rate for a limited period of time. Many people borrowed more than they could afford because they were convinced they would be earning more money and would be able to afford the higher payments when the preferential interest rate ended. Unfortunately, many of them were wrong.
8
because the bank lends money out at a higher interest rate
Costs are the fees and interest charges. Pitfalls are that you will not manage your money well and go further in debt expecially by buying things you do not need or would not otherwise purchase had you only paid with money you could afford to spend.
Magic elves
It depends on your time frame and on how much risk you can afford to take.
The fastest and best way to pay back a credit card debt is to pay more than the minimum payment. It is best to pay as much as you can afford in order to pay the balance down as soon as possible. The quicker you pay down the balance the less interest you will end up paying.
Because of interest. If we had zero% interest people wouldn't have stopped paying their mortage and we would be able to afford more things.
They loan out the money in their customers' accounts and charge a higher interest rate on the loans.
They have the right to know the charges, to have an attorney, to be appointed an attorney if they can't afford one, and the right not to talk.