Your credit options can very widely depending on your financial situation and the purpose for accessing funds.

We provide a detailed credit information tool in order to help you better understand loan related issues, especially the kind that deal directly with your home.

Subscribe to Access This Free Tool: "Putting Your Home On The Line Is Risky Business"

Your home needs to be a place of safety and security. Yet, when you need money, leveraging your home is often a first and easy choice because you can receive a lower interest rate and payment.

Beware! Leveraging your home can be highly risky! As part of your personal finance education, our free credit tool explains that some lenders may lead you to believe that loans such as home equity loans and lines are great options for obtaining large sums of money quickly and easily.

However, anytime you add more debt on top of existing debt you are moving in the wrong direction. Debt does not equate to easy money. Always remember that debt only equates to less personal freedom in your life so whenever possible seek out a debt free solution to your problems.

This free credit resources was created by a government agency and is provided to help you better understand your credit options. You must be informed about the potential pitfalls of borrowing money.

The fact is that there are lenders you should be wary of. You must pay attention to the fine print regarding interest rates and fees. Always take your time to shop around for lenders, comparing apples to apples, before making a final choice.

Understand your options for credit fully before signing on the dotted line. Never let a lender talk you into something you are unsure of.

When you can clearly contrast and compare each offer, your knowledge provides leverage when dealing with each lender. Market comparison information provides you with the advantage of making lenders compete with one another.

The benefits of shopping around always means saving money and getting the best loan program possible. Once you have decided on a loan product or program, make sure the option you choose is one that you understand clearly.

As long as you understand the various credit options available (ie. creditcard, personal term loan or line, secured or unsecured, 1st or 2nd mortgage, equity line of credit, etc), and are aware of the pro's and con's of each product, you can minimize your risk and make the most of your financial situation. You have rights under the law; as our free credit options tool will tell you, so do not be afraid to exercise your rights when necessary.

Most importantly, do not allow stress or money worries to persuade you into making quick decisions. After all, the lenders need your business just as much as you need their money.

Your business is in demand, lending institutions are the supply; without one the other cannot exist. So if a lender gets too pushy, move on to the next. There are plenty of credible lenders out there, and they want your business.

» Your Credit Rights
Know your rights under the Fair Credit Reporting Act; Equal Credit Opportunity Act; Fair Credit Billing Act and the Fair Debt Collection Practices Act. Provided by the Federal Reserve Board of San Francisco.

» Credit & Charge Cards
What consumers should know about the cost and terms of credit. Provided by the Federal Reserve Board of San Francisco.

» Building A Better Credit Report
Explains your rights, tells how to legally improve your credit, offers tips on dealing with debt, cautions about credit-related scams and how to avoid them, plus provides other resources. Provided by the Federal Trade Commission.

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