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December 23rd, 2008

Money Deals You Should Refuse

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Whether times are tight or not, protecting your money should always be paramount. It’s easy to be swayed, even lured, by deals offering beneficial dividends. More often than not, these enticing deals can lead you down a path of debt. Now more than ever, consumers need to be investing their money, not losing it.

The Dolans are warning consumers of “9 Money Deals You Should Refuse:”

  • 0% financing — We’ve all seen the car commercials promising this seemingly great deal. How great a deal is it? While “stellar” credit is usually needed to capture such offers, “you may actually save more every month and over the life of the loan by taking a rebate instead and applying it to your down payment.”
  • “Skip-a-payment” offers — “It may seem like a gift to be told you can skip a credit card payment for one month, but trust us — it’s more trouble and money than it’s worth. Don’t think for a moment that your balance stops accruing interest. In fact, even if you didn’t add any new charges during that “no-payment” month, you’d STILL end up with a higher balance than when that month started!”

Click here to read the rest of the Dolan’s “9 Money Deals You Should Refuse.”

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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