It is strongly tendentious, as the author often inserts wording that has no basis whatsoever in the original text in order to conform it to fundamentalist viewpoints on end-times, sexuality, politics, and social policy. Depending on your views, you may see the Living Bible as clarifying the meaning that is already present in the text or as imputing meaning into the text that is not there. Essentially, the Living Bible does the interpreting for you. Even some fundamentalists find it controversial. The Living Bible is easy to read and it makes a good story book.
Many editions explain the nature and purpose of the paraphrase.
The New American Bible is not as good as the Jerusalem Bible for serious study. The notes have a distinct Roman Catholic flavor, which can be a disadvantage for people who are not Roman Catholics. This is a very good Bible for the lay Catholic. The notes have a distinct Roman Catholic flavor, which can be an advantage for Roman Catholics or for people who are not Roman Catholics themselves, but wish to inform themselves about the position of the Roman Catholic church on specific passages. The New American Standard Bible was the project of the Lockman Foundation, which sought to produce an accurate, readable translation.