Cautionisthewatchword
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OMAHA WORLD-HERALD MONEY MONDAY, MAY 5, 2014 • 3D Mightbeco-signingaloan? Cautionisthewatchword THE CHICAGO TRIBUNE Mae reports that about 90 per- ing because of late or missed Adult fi nancial life often cent of customers who take out payments. begins when you move out and its Smart Option Loan, a type But when trouble does occur, start paying bills on your own. of private student loan, have a you and your co-signer should But for that to happen, a new co-signer. have a plan in place for how the study indicates, many young And as national vacancy problem will be solved. adults need their parents’ rates for apartments decline “Parents should make this help — or, really, their parents’ and rents rise, the number of plan a condition of co-signing,” signatures. renters needing co-signers has said Susan Bryant, vice pres- According to an Experian grown. Waterton Residential, ident of marketing and media Consumer Services survey, which manages apartment sales at Apartments.com. nearly two-thirds of millennials communities throughout the CONSIDER ALTERNA- have used a co-signer to rent U.S., said the number of appli- TIVES. Is there a way to get an apartment, take out stu- cants who needed a co-signer around needing a co-signer? dent loans or qualify for other to qualify for a lease grew by With apartment rentals, for types of debt. Three-fourths 30 percent from 2012 to 2013. example, a landlord may waive of millennials said they would Young adults who don’t have the co-signer requirement if ask their parents to co-sign for long credit histories or big you provide a bigger deposit them in the future. (In the sur- salaries may get better loan up front (which your parents SARAH HOFFMAN/THE WORLD-HERALD vey, millennials were defined as terms with a co-signer. At Sallie may be willing to help fi nance, Runners start the Berkshire Hathaway “Invest in Yourself” 5K from the CenturyLink Center Omaha. those ages 18 to 30.) Mae, for example, students who if needed). “I don’t have hard and fast take out a private student loan “Instead of one month’s rent, data that show co-signing is with a creditworthy co-signer offer two,” Bryant said. growing, but certainly it’s very reduce their interest rate, on SET UP AN EXIT STRAT- Run: Creighton student posts best time prevalent these days,” said average, by more than 1.5 per- EGY. If you do have a co-sign- Becky Frost, senior manager of centage points. er, know the rules about if Continued from Page 1 consumer education for Experi- For those who do ask a and when a co-signer can be parent to co-sign, proceed with removed from the loan. Just be- in her tights and blood seeping an. This was the fi rst year the caution: ware that releasing a co-signer from her skinned left knee. The study was conducted. SET UP A BUDGET. Before may not be easy. Seattle resident picked herself Co-signing is when a parent up and started again. or individual guarantees a debt you take out the loan, draft a A recent report by the Nineteen minutes and 51 sec- on another’s behalf. Although plan of how you will pay the Consumer Financial Protection onds after the fall, she pushed the borrower covers the bills, bills. Bureau, which analyzed thou- through the fi nish banner at the co-signer is on the hook if “The parent and child should sands of private student loan Lewis & Clark Landing along- the borrower fails to pay. Given create a budget and review complaints and debt collection side the Missouri River, winning what’s at stake, most fi nancial how payments will be made,” complaints related to student the women’s division in the race planners caution against it. said Michael Solari, a fi nan- loans, shows that borrowers sponsored by her employer: “Adult children should ask cial planner in Bedford, New often face obstacles when seek- Brooks Sports, where she works their parents to co-sign only Hampshire. “It’s also a good ing to release a co-signer from in the apparel division. if they absolutely need to, and exercise for the child to see if a private student loan. “Blood, sweat and tears,” she parents should agree to co-sign the purchase is worth altering What’s more, the report said, smiling but surprised, at only if they absolutely could their lifestyle.” found that if the co-signer dies DRAFT A PLAN age 45, to be the day’s fastest afford to make the debt pay- for when or fi les for bankruptcy, you woman. ments,” said Som Hanvanich, a you can’t pay. Most young could suddenly owe the remain- Men’s winner Drew Prescott, fi nancial planner in Kettering, adults who borrow with a ing balance of your student 21, a Creighton University The 2,200 people who participated in Sunday’s 5K received one of these Ohio. co-signer manage their debt loan in full — or have your loan student from Urbandale, Iowa, specially designed medals after crossing the fi nish line. And yet, as the Experian well. According to the Experian placed into default. For more was the fi rst runner across the survey and other data show, study, only 8 percent of these information, go to ConsumerFi- fi nish line at 15:53, trailing only full range of co-signing is common. Sallie accounts were in bad stand- nance.gov. a motorcycle policeman. While running shoes Wilson is a Berkshire sharehold- and apparel for er and in town for the Omaha a sport he said conglomerate’s shareholders is still growing. BUILDING PERMITS meeting, Prescott has yet to The number SINGLE-FAMILY DWELLINGS REMODEL-NONRESIDENTIAL make a Berkshire investment. of marathon Student-loan Berkshire’s Oriental Trading fi nishers in- BDKRT LLC, 505 S. 182nd St., 144 S. 39th St. LLC, 144 S. 39th St., $138,048 $798,592. Co. won the corporate award creased 11 per- Maricela Drew Jim 8809 West Center Omaha, 8809 West for the most participants, with cent last year, Birchwood Homes Inc., 1532 N. 182nd Machuca Prescott Weber interestrates St., $208,136. Center Road, $220,000. Weber said. 115. (Sunday’s really big running C and B Property LLC, 816 S. 169th St., Other Berkshire companies, C R Investments Inc., 14242 Wood event was the 37th annual we ever did.” Valley Drive, $101,556; 14238 Wood $41,194. Lincoln Marathon, sold out with Jim Weber, CEO of Brooks including See’s Candy, handed Valley Drive, $101,556. Jasper Stone 450 Regency LLC, 9140 12,500 participants.) Sports, said the company will out goodies as the runners fi n- likelyto rise West Dodge Road, $80,000. Castle Brook Builders LLC, 2604 N. The youngest Omaha “com- sponsor the race for the third ished and waited for the awards 179th St., $181,084. Madonna School, 6402 N. 71st St., B LOOMBERG NEWS petitor” may have been 3-month- time on May 3, 2015, the day ceremony. Celebrity Homes Inc., 19860 K St., $190,000. old Ximera Machuca, who wore after the next Berkshire share- Harrell Simpson and his College students in the U.S. $177,708; 4525 S. 198th Ave., Michael A. Huber, 8802 L St., $27,000; a pink track suit and socks holders meeting. sister, Anne, of Pocahontas, who take out federal loans are $177,708; 4521 S. 198th Ave., 8802 L St., $27,000; decorated like running shoes Brooks has had a higher Missouri, came to Omaha for the likely to see interest rates jump $168,688; 4517 S. 198th Ave., 8802 L St., $27,000; 8802 L St., $159,184; 4446 S. 199th Ave., while riding in a stroller pushed profile at the Berkshire meeting meeting and signed up for the — potentially by a percentage $27,000; 8802 L St., $27,000. by her mother, Maricela. It was since it spun off as its own sub- race. $156,856; 19856 K St., $143,016; Royal Land Inc., 11615 I St., $103,000. point or more — in the coming 19852 K St., $136,000; 9114 Summit “I’ve been dreading it for Twin City Concrete Products Co., 3208 Mom’s fi rst post-baby run; dad sidiary two years ago. Brooks academic year. St., $74,588; 9126 Summit St., weeks,” said Harrell, 71. Keystone Drive, $28,500. Francisco recorded the event was part of Russell Brands of Last year, the government be- $74,588. But afterward, with their photographically. Bowling Green, Ky., which was gan to peg rates on most student Charleston Homes LLC, 4202 N. 174th fi nishers’ medals around their REMODEL-RESIDENTIAL Buffy Tillitt and Debra Lewis, purchased by Berkshire in 2006. loans to the Treasury 10-year Ave., $146,396. Avi S. Morrison, 525 Fairacres Road, members of the Beardstown Weber said Warren Buffett, necks, Harrell called his son, a Falcon Ridge Land Corp., 6440 S. 185th note. Stafford loans, the most $1,500,000. Ladies investment club, traveled chairman and CEO of Berkshire, marathoner, to brag a bit. Ave., $171,068. widely borrowed, carried an Christian G. Christensen Jr., 7001 from Illinois to the shareholders has shown “unwavering commit- “Under two hours,” Harrell Fireside Construction Co. LLC, 20160 undergraduate rate of 3.86 per- Farnam St., $25,000. meeting and started at the back ment to grow the brand 10 years said, smiling, as the two hiked George B Lake Parkway, $195,876. cent for the 2013-14 school year. Clara Latzel, 5203 O St., $23,784.