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02/02/2012
NATIONAL BBB ALERT - An advanced fee loan company, GreenPoint Capital located in Lansing, Michigan, has been named by four consumers contacting the BBB, inquiring about their business practices. One consumer informed the BBB that GreenPoint Capital did not honor the contract she made with them after paying $800.00 by wire transfer. The consumer was told a $5000.00 loan would be in her account on 1/31/2012. The money was not provided, and the company representative called to ask for another $800.00, saying they needed more security on the loan. This consumer says GreenPoint Capital took everything she had plus money she borrowed from someone else to get the $800.00 to take out a loan.
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01/26/2011
The Better Business Bureau (BBB) advises consumers to be wary of tax refund anticipation loans, often marketed as "rapid refunds" in the form of checks or "gift" debit cards.
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08/09/2010
Better Business Bureau recommends that consumers try to work out a deal with the lender directly before paying out hundreds in upfront fees to a loan modification company.
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06/28/2010
While the economy improves, banks are still reticent about lending to small business owners and Better Business Bureau recommends developing a solid business plan to earn the bank’s trust and increase your chances of landing a loan.
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06/03/2010
Better Business Bureau warns that struggling families and small business owners can lose thousands to phony lenders
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03/29/2010
Better Business Bureau is warning families to beware of online payday lenders that claim they are not beholden to licensing laws, debt collection practices or caps on interest rates.
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02/01/2007
Using a credit line to borrow against the equity in your home has become a popular source of consumer credit. And lenders are offering these home equity credit lines in a variety of ways.
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01/01/2007
If you're refinancing your mortgage or applying for a home equity installment loan, you should know about the Home Ownership and Equity Protection Act of 1994 (HOEPA).
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05/01/2005
Advance-fee loan sharks are preying on unwary consumers, taking their money for the promise of a loan or credit, and leaving them in hot water. The scam artists often impersonate legitimate lenders to entice consumers into falling for their bogus offer.
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01/01/2004
If you need money to pay bills or make home improvements, and think the answer is in refinancing, a second mortgage, or a home equity loan, consider your options carefully. If you can't make the required payments, you could lose your home as well as the equity you've built up.
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10/01/2003
Are you in need of cash? Do you want to consolidate your debts? Are you receiving home equity loan or refinancing offers that seem too good to be true? Does your home need repairs that contractors tell you can be easily financed?
If you are a homeowner who needs money to pay bills or for home repairs, you may think a home equity loan is the answer.
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03/01/1999
If you use credit cards, owe money on a personal loan, or are paying on a home mortgage, you are a "debtor." If you fall behind in repaying your creditors, or an error is made on your accounts, you may be contacted by a "debt collector."
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01/01/1999
Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage—whether it's a home purchase, a refinancing, or a home equity loan—is a product, just like a car, so the price and terms may be negotiable. You'll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars.
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04/01/1998
Do you own your home? If so, it's likely to be your greatest single asset. Unfortunately, if you agree to a loan that's based on the equity you have in your home, you may be putting your most valuable asset at risk.
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03/01/1997
What would you do if a friend or relative asked you to cosign a loan? Before you answer, make sure you understand what cosigning involves. Under federal law, creditors are required to give you a notice that explains your obligations.
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