Advice Blog

You know why you need advice. You’ve heard the news and may have been affected by extra charges which can increase the APR behind the scenes. Maybe you know someone in foreclosure. Our loans affect our lives dramatically. We shop for the car. We shop for the house but we tend to sit like children in front of the very first person who offers a loan and humbly thank them if they accept us.

Your first advice is free.

Shop the loan.

Your second advice is free.

Seek advice from someone such as Jim Williams. He’s the guy who sold the software and calculating machines to the banks. The man knows and can make any calculation of any loan of any kind. He knows every scheme to add extra charges and fees which can double the interest you pay over the life of the loan.
Let’s face it folks. The loan lasts up to 30 years. That’s a long time to be paying extra money just because we just reached across the table and signed whatever was there without making an informed decision.

Here is an example of a real loan and how we may help you avoid these pitfalls!

A customer was borrowing $18,000.00 for 120 months at a rate of 15%.If you think the rate is bad they also were charged $1,518.00 for prepaid fees and odd days. The bottom line they were to pay a total of $19,924.20 for the finance charge which is more than the loan amount, obviously the new APR…….17.077 . The payment was $316.38 for ten years.

The customer could have borrowed the $18,000.00 for 69 payments of $318.45 and paid a total finance charge of $3,973.05 with a APR of 7.09.This loan would save the customer the difference between $19,924.20 and $3,973.05 which would be a grand savings of $15,591.15.