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The money to fund an extended Cash for Clunkers program could come at the expense of renewable energy companies.

The House on Friday overwhelmingly passed a bill to extend the program which gives consumers up to $4,500 for trading in old cars for new, fuel-efficient ones with an additional $2 billion. The initial $1 billion set aside is said to be already or nearly exhausted.

The program has been popular with consumers as well as politicians who see it as a way to revive bleak auto sales. However, the House proposed paying for the extension by using $2 billion … Read more

If you are planning to purchase or refinance a home, the Vertex42 Mortgage Payment Calculator is a competent tool for you to see how much that home will cost over time.

The Vertex42 Mortgage Payment Calculator takes the work out of setting up one's own Excel spreadsheet, as it is, essentially, an Excel spreadsheet (it works with your Excel program). With the Vertex42 Mortgage Payment Calculator, you can compare up to five possible mortgages. And just like in Excel, if you have even more variables to consider, you may insert more columns. Easy to manipulate and manage, this simple … Read more

Choosing your major financial purchase can be dreamy (stucco or stone? sun roof or tinted windows?) but the dream can quickly morph into a nightmare when trying to determine just how much money your loan will actually cost over time. The Amortization Schedule for Excel gives you the basic information you need so you can see just how much your dream will actually cost over time.

This freeware tool is very easy to use. Just plug in your numbers (loan amount, loan term, and interest rate) and voila, an amortization schedule quickly appears. You can easily change the variables, too. … Read more

The European Investment Bank, backed by European Union member states, approved 866 million euros ($1.2 billion) more in loan money to the auto industry on Tuesday.

The loans are specifically directed to "help design and build cleaner cars with lower carbon dioxide emissions," according to an EIB statement.

The package includes 400 million euros ($531 million) to Nissan's European division for the purpose of developing and building more fuel-efficient vehicles in Britain and Spain. Jaguar Land Rover was approved for a loan of 340 million pounds ($499 million) from the EIB to "to help cut … Read more

LoanMarket.net announced on Monday that it has launched its online marketplace for buying and selling mortgages.

According to the company, its service allows both buyers and sellers to come together in a "neutral, open marketplace" to trade mortgages and other real-estate secured note investments.

The site has a variety of sellers, including mortgage originators, banks, and lending institutions, mortgage pool investors, small private investors, and seller carry-back note holders. All the notes listed on the site include current market value information, as well as a photo of the property taken within 14 days of the post. All … Read more

With banks scrutinizing loan applicants with renewed fervor, students who need money to cover college tuition could start looking to friends, family, and social networking for cash.

Two start-ups are banking on the premise, with Web sites that help college students secure small loans for school from relatives, close friends, and their extended social networks. Their timing couldn't be better, given that banks and other private lenders are pulling up stakes on risky loans (e.g., those granted without a proven credit history) and students need to bridge the gap between a $40,000 tuition bill and a $20,000 government loan.

One such start-up, Redwood City, Calif.-based GreenNote, will officially launch its service Tuesday to help students solicit as little as $100 from friends and family at an interest rate that's on par with subsidized government loans. For a percentage fee, the site legally formalizes what would otherwise be a transaction sealed with a handshake or nod. Its rival, Fynanz, launched in March.

"They're essentially playing the role that banks had in the past," said Forrester Principal Analyst Brad Strothkamp. "Banks have tightened up lending standards, so if you're looking for a small loan, and you don't have a credit history, this may be the only option."… Read more

Don't expect to get an online version of Microsoft Excel when you join Buxfer, a site to track shared bills and expenses. In fact, don't expect much beyond basic features when managing a shared bill, a personal expense, or an incoming or outgoing money transfer. Competing with other finance-sharing sites such as BillMonk and iOweyou, Buxfer is best suited for roommates and groups of friends who share expenses and want to sort out the bills later.

Buxfer's math genius automatically splits the cost of your rent and groceries among participants into either equal or weighted shares. A … Read more