City approves loans for Grandview, Highland theater upgrades

City inspectors recently informed brothers Stephen and Benjie Mann that they would need to repair or replace the dark, pigmented Vitrolite glass at the top of the Grandview Theater tower, which was deemed a safety hazard because of its age.

The brothers said Wednesday that work on an enclosure was almost finished and that the signature movie marquee remained unchanged.

The average person driving by wouldnt even notice, Stephen Mann said in an interview. A full restoration would probably be 10 times the cost. Were not touching any of the art deco effects or anything else.

On Nov. 6, the Heritage Preservation Commission voted unanimously to ask the council to add several...

Best New Cars for Problem Credit Buyers

Credit challenged car buyers should check out the list of the least expensive new cars to buy in November

Thankful for New Cars in November

While the majority of borrowers with bad credit finance a used car, lenders will sometimes offer the option of a new car. If this is the case, we recommend choosing something affordable.

Specifically, we suggest looking for a smaller sedan or hatchback, since subcompact and compact cars are not only less expensive to buy, they can also save money on fuel and car insurance costs.

A more affordable car also means it can be financed for a shorter term – saving on interest charges and allowing borrowers to trade for their...

The Return of the Risky Reverse Mortgage

US baby boomers desperate for retirement income are increasingly turning back to a financial product that, after the housing bust, had been left for dead: the reverse mortgage.

Many retirees havent saved enough to cover expenses for the rest of their lives. But many of them have one major asset – a home. A reverse mortgage allows them to borrow against that, and they dont have to make any payments on the loan until they move or die.

Borrowers took out $15.3 billion of the loans in 2013, an increase of 20 percent from the year before, according to industry publication Inside MortgageĀ Finance. The record year was 2009, when there were $30.21 billion of reverse mortgage loans...

Mankato food company sued for unpaid loans

WELLS, Minn. — A Mankato businessman and his food company are facing three lawsuits over unpaid loans.

Stephen Singleteary and Singleteary Food Solutions tried in 2010 to reopen a food processing plant in Wells. Singleteary secured more than $8 million in public funding or public-backed loans as well as investing personal capital in the project. The Free Press (http://bit.ly/1uyoVLE) says the plant never fully reopened. Pioneer Bank took ownership of the plant last year through foreclosure proceedings.

Pioneer Bank has filed two lawsuits and John Bean Technologies, a food processing equipment maker, filed a third. Together they seek more than $6 million from Singleteary....

How Can I Transfer My Parent PLUS Loans to My Son?

Huffington Post Reader Question

Dear Steve,

I have several parent plus loans that I took out for my sons college. He also has some stafford loans. I am now concerned of the amount of loans I have under my name. I have three other children who will be attending college, and was hoping to buy a house in the next five years.

He and I were wanting to combine the parent plus loan and his stafford loans into one loan with his name being first and my name being the cosigner. I will help pay half but wanted to get my name off of the debt since I am older and trying to help other children, etc. If this is possible where do we go to do this?

Lee

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Loans available to residents for storm damage

Doris Cooper-Guy was one of the first people to apply for a loan Wednesday through the Small Business Administration to help pay for tornado damage repairs to her Garden District home.

SBA representatives started accepting loan applications Wednesday and will remain in Ouachita Parish over the next several weeks. SBA acted under its own authority to declare a disaster in response to the request SBA received from Gov. Bobby Jindal on Nov. 14.

The disaster declaration makes SBA assistance available in Ouachita Parish and the neighboring parishes of Caldwell, Jackson, Lincoln, Morehouse, Richland and Union.

The Oct. 13 tornado toppled a tree on Cooper-Guy’s home, damaging...

BB&T Corp CEO scolds bankers for under pricing commercial loans

NEW YORK Nov 20 (Reuters) – US banks are taking on
incredible risk in corporate and commercial lending, offering
interest rates and terms that do not reflect potential losses,
BBT Corp Chairman and Chief Executive Kelly King said
on Thursday.

Intense competition in that market has led some lenders to
cut pricing dramatically, he said, with some bankers again
turning reckless and lending like they have in the past.

Our corporate returns have gone down faster in the last two
to three years than our retail returns because were killing
each other, King said at a financial conference organized by an
industry group called The Clearing House....

Wells Fargo to cut rates for some student loans

Wells Fargo, the largest private student lender in United States, is launching a new loan modification program that includes an option to lower the interest rate for certain qualified borrowers.

The bank will work with customers on a one-on-one basis to determine the appropriate course of repayment and could cut interest rates to as low as 1 percent.

The program will be available to borrowers whose employment or income has changed since they began repaying their loans. The loans must be late, but not in default or delinquency.

Read More Student loan debt keeps growing, but new signs of hope

We started to hear more and more feedback that solutions that...