MAIN Your Money Loans

Everyone knows the old advice, "Never a borrower or a lender be," but in the modern world loans and credit have just about replaced cash savings as the way that average people finance large purchases.

Whether you are thinking about a personal loan to help buy a house, a car or help with bills that have gotten out of hand, the educated consumers takes time out to learn about the fine print before making any loan decisions.

What terms can you get on your loan? How much will the interest rate and fees cost before the loan is paid back? Can you do anything to improve your credit score before you apply — and qualify for money saving lower interest rates?

Of course, it makes sense to avoid borrowing when you can. The catch is that buying a car, a home or investing in a business or education may require money you don't have easy access to. The benefits of a loan, in those cases, may outweigh the costs in the long term.

The current economy has put a strangle hold on loan money from banks and other traditional lenders. Some consumers are shopping for alternative sources for cash. Borrowing against retirement accounts, friends, family and other creative solutions to the tight loan markets are helping some, but many others wind up resorting to less attractive, high interest loans or adding more to already overloaded credit cards.

One alternative that it working for many borrowers and investors is microfinancing. This peer-to-peer lending makes loan funds available in communities and to people who are blocked from financing through more traditional avenues. The concept is that many people invest small amounts of money that are then made available to those needing loans.

The amounts financed through microloans are usually small, but the cash influx can mean the difference between success and failure to a small business owner or individuals trying to improve their financial situation. Surprisingly, the default rate on these community loans tend to be very low. The funds repaid are usually left in the pool to help others in the community.

In short, it really pays to comparison shop for personal, home, or car loans. Just up ahead, learn more at top sites that offer helpful tips, advice and how to's on securing the best terms, repayment options and interest rates.

More about loans around the Web:

Personal Loans : The Basics - Things to consider and resources to use before you make the leap - including truth-in-lending, credit checks, equal credit opportunity, unsecured loans, lump sums and credit lines, plus tool around the rest of the site for more great tips on keeping your home finances in order, from Bankrate.com.

Loan sources - It's now possible to do everything online, but get a good real-world grounding with this online tutorial from

Loans - AOL Money & Finance - News, feature articles, and helpful tips & advice on applying for personal or auto loans, home mortgages, college aid, and loan consolidation.

Nontraditional Financing Sources - Answers.com discusses sources for getting loans when banks say no.

Auto Loans : The Basics - It's now possible to do everything online, but get a good real-world grounding with this online tutorial from Bankrate.com, covering the bases with info on new or used cars, online shopping, selling or financing, leasing, price haggling, warranties and service terms.

Micro Credit & Peer to Peer Lending - Peer to peer lending is gaining in popularity around the world. Groups of people join together to put small amounts into a lending pool for personal and small business lenders who might not be eligible for credit from more traditional lending sources.

Payday Loans Introduction - Informative feature articles on how they work, and the possible pitfalls.

Is Home Ownership Right for You? - Freddie Mac's guide for first-time home buyers with facts & information on the risks & advantages with overviews of credit, down payment and mortgage requirements.

Find a Mortgage: Becoming A Home Owner : Getting Started - The Fannie Mae guide, covering the basics of home ownership, credit checks, financing, selecting and buying, with links to additional info and contacts.

Interest.com - Informational articles for the home buyer offering mortgage calculators, interest rate finders, terms and definitions.

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