Personal Finance Roundup

Last-minute Father’s Day deals [CNN Money] “With only a few days to spare, here are a selection of luxurious presents that dad will love, with deals that would make him proud.”

15 fab — and cheap — gifts for Dad [Bankrate] “Here are 15 tiny-priced — and even free — gifts that will tell Pops he’s tops.”

How to Buy a Foreclosure [Kiplinger] “The price may be right, but be prepared for the hassles.”

Best Places to Seek Student Loans [Smart Money] “Here’s where students can turn for financing help.”

How to Make Your Open House a Success [The Street] “Here are some tips that contribute to a successful open house.”

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  1. whysteriastar says:

    That bank rate list is great. I posted it on my Cheapskates Handbook, including a few of things I did one year to give my dad a great Father’s Day.
    Still, it had a few ideas I haven’t tried yet. Thanks!

  2. ChuckECheese says:

    The Kiplinger article is teh lulz, because they make it sound like it’s still a seller’s market out there. According to them, if you’re lucky, you might get as much as 10% to 25% discount on your home by purchasing it via auction or REO. This is different from a new suburban neighborhood I know in OKC, where homes are auctioned off at 30% to 70% discount.

  3. KarmaChameleon says:

    The student loan article was okay, but was not entirely accurate about Federal Parent PLUS loans. It made it sound like only people with stellar credit can get them, and that’s not the case at all. I work in financial aid for a technical school, and can tell you that for the PLUS your credit history is far more important than your actual score; obviously the two go hand in hand, but I’ve had parents get approved with little to no credit to speak of. Not having bankruptcies, judgments, collections accounts and the like in the last two years is far more important than having an 800 credit score. The article also neglects to mention that simply going through the pre-approval process can aid a student, a denial really is not the end of the world. If a parent of a dependent student gets denied for the PLUS loan, the student automatically receives additional Unsubsidized Stafford Loan funds. Also, certain lenders offer the option to add an endorser to a PLUS (an endorser basically being a co-signer). Not every lender offers that, Sallie Mae does and a few others, so it pays to do some research.

    The other thing the article neglects to mention is that because the PLUS is a Title IV loan, borrowers enjoy many of the same benefits as with the Stafford Loans (deferment/forebearance, consolidation, etc). Unless you’ve got stellar credit–and most parents don’t–the PLUS really is the best way to go for a dependent student needing to cover a tuition gap.

  4. Marce says:

    So, Stafford loan yearly limits are going up. Why doesn’t SmartMoney note that undergraduates have a lifetime loan limit of $46,000? Part-time students (at my college, there are many) will hit that limit quickly if they have to rely on loans.