Consumers have so many choices in lending in today's market. What fits for one situation or consumer may not be the best for another. Is the easiest loan the best one? Why does payday lending get such a bad rap? How can I compare the various offers and make sure the one I choose fits what I need financially?
These thoughts all lead to more questions and, ultimately, smarter decisions, so this month we are focusing our consumer tips and resources on Understanding Loan Types. It is part of our broader quarterly topic of Responsible Lending. In May we will discuss Preparing for a Loan and in June we cover What If scenarios -- before, during, and after the loan process. Feel free to send us any of your own resources or favorite stories.
Visit the MCUCD website throughout the month of April, and use our Resource List as we look at the difference in various loan types.