Mila78's comment history

Mila78 said...

On one hand it’s not bad that with a help of pawn shops and payday lenders people can borrow money quickly in emergency. But on the other hand, when getting in debt is easy people don’t take in really seriously and get in trouble. I think that taking out a loan shouldn’t be so easy. Many consumers struggling because they have taken out easy loans but now can’t pay them off because of high interest rate. Today many people live from paycheck to paycheck and often have not enough money to cover all the necessary expenses. That’s why they use such quick ways as applying for or going to a pawn shop.

June 18, 2013 at 7:34 a.m.
Mila78 said...

I am sure there should be strict requirements for those who are going to apply for a mortgage. No, not because it’s necessary to make housing unaffordable. Housing should be affordable but it’s necessary to avoid another mortgage crisis. Losing a home is painful. And to avoid this pain consumers should take out loans they really can afford. If a loan applicant has an awful credit, drown in debt how is it possible to approve this person for a home loan? Lots of consumers use personal loans and and don’t pay them but these loans are small. So how can such people pay down their home loans? It’s necessary to protect both borrowers and lenders from the consequences of irresponsible lending.

June 6, 2013 at 8:17 a.m.
Mila78 said...

Foreclosure rate is going down and that the good news. Hopefully, that the foreclosure crisis has left behind and consumers become more responsible about their home loans and mortgages. Losing a home is awful and it’s necessary to do your best to avoid it. When you apply for a long term loan you should be ready to make in-time payments during all the loan term. It’s not worth to make a decision to buy a house spontaneously because there will be a risk that one day you will be unable to make payments. Despite decrease in foreclosure rate, it’s still a serious problem in the United States. Mila from

April 24, 2013 at 7:50 a.m.
Mila78 said...

Thanks for the great post. I think that it’s extremely important to organize your finances and set a budget. Your money and expenses should be in order, you will never be happy with your financial life in case there’s a chaos. That’s why set a budget, write off expenses and try to cut expenses if you have debts to pay off. I would advice to focus on debts because I think that it’s impossible to be good at saving money in case you have important financial commitments. It’s very important to get your monetary life and order and live within your means, so don’t rely on borrowing and don’t live through using credit cards. Mila from

April 16, 2013 at 8:19 a.m.
Mila78 said...

Mortgage is one of the most popular loan types today. Most consumers in the US have middle income and it’s hard to buy a house for cash and quite often taking out a low-interest rate mortgage is a solution. But if you will successfully pay off your mortgage depends on you and on your lender also. Lenders should provide their customers all the necessary information about interest rates, repayment terms and monthly payments. Also they should let the borrowers know about the ability to refinance a mortgage if necessary. Taking out any loan whether it’s a payday loan or a mortgage requires responsibility from the borrower and it’s necessary to make payments strictly in time. Mila from

March 26, 2013 at 4:26 a.m.
Mila78 said...

I think that it’s extremely important to make American housing market affordable for customers. And it’s good that it’s possible to see a positive progress because today banks are ready to lend more than 1 year ago. Interest rates on mortgages are record low so more people have a chance to move to their new houses. To my opinion, as for the hosuing Obama is on the right track. It can be complicated to make all the things done quickly after the housing crisis and prevent another mortgage crisis but new regulations can help. It’s necessary to check consumers’ repayment ability before approving mortgage applications to reduce an amount of unpaid loans. Mila from

March 11, 2013 at 7:58 a.m.
Mila78 said...

Government has just a huge debt and that’s why it’s not the best time to lend money to the banks. Any case, Obama has reasons to act like that. All the Americans can not wait when the economical situation in the US will become more stable. The lion share of problems is about money and debt. The economy has become totally debt based, everybody try to get a loan but quite often we just forget that borrowing doesn’t make us any wealther. These times are tough for banks also because their services are not so in demand anymore. American consumers rely more and more on alternative ways of borrowing money for example on online services like But I am sure that government should not borrow more cash and get us deeper in debt.

January 28, 2013 at 6:42 a.m.
Mila78 said...
January 28, 2013 at 6:40 a.m.
Mila78 said...

I have heard very good opinions about community banks. Big banks which call themselves “too big to fail” aren’t actually lending today, furthermore with each day their relationship with the consumers get worse. I think it’s time for alternative lending and banking institutions. They offer better lending conditions and are not so strict with their clients. Big banks think that they have a reputation and do not really care what a consumer will say about the service. It’s very good that Small Business Lending Fund provides assistance to financial organizations which are only in the beginning of their way. People need a variety of services they need to have a choice and community banks seem to be a decent alternative to traditional lending institutions. Milla from

January 10, 2013 at 6:13 a.m.
Mila78 said...

Unfortunately, lots of young people mistakenly believe that taking out a student loan is the only way to attend college. They take out these loans, get in debt, then can not find jobs and complain. No one is forced to take out a student loan. It’s important to make a decision to attend college as early as it possible to know your options. Saving money is a very wise decision, for example, there’s 529 savings plan. Talk to family members and people who can help financially – together it will be necessary to save enough. Also it’s not worth to choose expensive college, choose something you can afford. Try to avoid debt because student loan is very difficult to pay off. Mila from

December 26, 2012 at 4:54 a.m.

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