Saturday, August 23 2014 12:33 AM EDT2014-08-23 04:33:44 GMT
Montgomery police say they are initiating a death investigation following a shooting in north Montgomery Thursday afternoon.More >>
A man wanted for murder in North Montgomery turned himself in Friday. The victim's mother says he had threatened violence to her son before but that it didn't have to end in tragedy. She spoke to WSFA 12 News about what happened and she has a message for those who choose violence as a method to solve disputes. More >>
Saturday, August 23 2014 12:01 AM EDT2014-08-23 04:01:23 GMT
A Wetumpka mother is sounding off after she says her child was abused at day care. The mother says the sad part is her toddler daughter has Down's Syndrome and can't tell her what's going on. This motherMore >>
A Wetumpka mother is sounding off after she says her child was abused at day care.More >>
Friday, August 22 2014 11:35 PM EDT2014-08-23 03:35:14 GMT
The streets of Ferguson have been peaceful for another night, as protests and tensions have been subsiding in the St. Louis suburb where unrest had erupted for several nights after a white police officer fatally...More >>
Conditions calmed this week in Ferguson after nights of sometimes violent unrest stemming from the fatal shooting of a black 18-year-old by a white police officer. But a delicate and crucial question lingers: What happens...More >>
(Toledo News Now) -
A growing number of Americans are borrowing money at an unlikely place - retail stores. Consumers are not just borrowing money on store credit cards these days. Stores are offering complex financial services from mortgages to life insurance.
"At the beginning of this year we were seeing historically low interest rates and we had heard that refinance was a great option," said Lilly Neubaur, who ended up refinancing her mortgage at Costco. "The difference that we've seen financially in our mortgage has been about $200 a month, so that's a big difference."
Neubaur is by no means alone.
"We've had over 1,000 members qualify. The average loan size is around $11,000, so that's putting over $11 million into the hands of small businesses that otherwise would not have had," said Catherine Corley of Sam's Club.
Many stores are capitalizing on the convenience of one stop shopping. At Home Depot, shoppers can get the supplies for a home remodel and finance the project under the same roof.
"We have a lot of people that come in and want to do kitchen remodels, need a new roof, need a new bathroom. The project loan allows them the opportunity to finance that project," said Brandon Hayes with Home Depot.
Experts say there is nothing wrong with borrowing at retails stores, but the convenience can lead to a rushed decision.
"They're targeting customers who are looking to complete transactions very quickly and at the point of sale, and I think in many ways that puts the onus on consumers to make sure that they're getting the best deal," said Tom Feltner of the Consumer Federation of America. "It's important for consumers to look at their own household balance sheet to determine whether or not these products are going to make sense for them.
Feltner says consumers should still shop around and read all terms and conditions carefully. Experts advise customers to always compare things like premiums, interest rates, closing costs and general fees.
In most cases, retailers are partnering with financial institutions to offer loans. That means even though loans may be targeted at less qualified borrowers, collateral will still be necessary for home equity and mortgage loans.