How Does Private Mortgage Work

Private Mortgage Insurance (PMI) is a special type of mortgage that you need to purchase when you mortgage a home for more than 80% of the value of the property. You generally will not have to carry this insurance if you put at least 20% of the value of the home in a down payment. The premium you are charged for this insurance will be added to your monthly mortgage payment and you will not be the one who receives any benefit for these payments. The lender is the benefactor of the insurance when or if you default on your loan....more

Amazon Launches E-Book Kindle Lending Library

The e-book wars continue to flare as announced the launch of their Kindle Owner's Lending Library. Available only to Kindle and Kindle Fire owners (sorry app users, you're out of luck), Amazon Prime members can now borrow one book a month from Amazon's initial offerings of 5000 loanable books. ...more
@karabuntin The lack of being able to read loaned books, be it from an Kindle Lending Library ...more

I Made My First Kiva Loan to an American Entrepreneur Today

Today I used to loan $25.00 to Elizabeth, a beauty salon owner in Queens, New York who needs $6,000 to purchase new chairs, hair dryers, and other items for her salon. This is the fourth loan I've made to an entrepreneur using Kiva, but the first one to an entrepreneur in the United States. ...more
In the event the small business owner you could have helped makes sense again the bank loan, ...more

Struggles with Auto Industry Bailout Dampen Los Angeles Auto Show

When leaders of the Automotive Big Three left Washington empty handed Wednesday night, it became clear that the industry's immediate future may now lie with the Bush administration, which has staunchly opposed using the Treasury Department's $700 billion financial bailout program to aid Detroit. ...more

So many untruths circulating about UAW wages and benefits, GM, Ford and Chrysler - If people ...more

American Dream

What is your definition of the "American Dream"? I saw a lottery winner on tv the other day and he said "Now I can start living the American Dream." Is the American Dream just to have a lot of money? Is it to have a big house and lots of cars and not working and just having things? Is Paris Hilton living the American Dream? ...more

 "I find it interesting that people want strings put on the automakers that have yet to ...more

Making Microloans work, or Rethinking my Kiva loan

The New Yorker has a fascinating article about the limits of microloans -- you know, the small loans that usually go to budding entrepreneurs in developing countries. Or perhaps familiarly, the kind of loans promoted by Kiva, which I wrote glowingly about here. ...more

When Friends Need To Borrow Money

You know what they say. Don’t lend money to family or friends. I know what you’re thinking. Obviously, “they” don’t have any friends. ...more

Credit Card PSA via Mrs. Micah's Dad

So my Dad and I were discussing credit card stuff (he's in the business). He made a very important point which I haven't heard discussed much. So here's my public service announcement: The credit card company will pay off your lowest interest balance first with the money you send in. This is guaranteed to cost you money. The amount depends on your balance and percentages. ...more

Update: Mr. and Mrs. Micah continue to get organized

I was just reading No Credit Needed's post about getting organized. It sounded a lot like what Mr. Micah and I are up to as we rectify our financial situation. So, a quick update on how we've been arranging things and making good on our plans. ...more