tag:blogger.com,1999:blog-76639745054300633092024-03-14T01:32:09.628+07:00//Emonlines\\Unknownnoreply@blogger.comBlogger106125tag:blogger.com,1999:blog-7663974505430063309.post-25503794919833211112009-09-13T19:26:00.001+07:002009-09-13T19:26:36.971+07:00Should You Use a Home Equity Loan to Pay Off Credit Cards?With <a href="http://www.mortgageloan.com/credit-cards">credit card</a> interest rates rising right through the roof, some homeowners may be wondering whether a <a href="http://www.mortgageloan.com/home-equity-loans">home equity loan</a> or <a href="http://www.mortgageloan.com/finance-glossary/Line-of-credit">line of credit</a> (<a href="http://www.mortgageloan.com/home-equity-line-of-credit">HELOC</a>) is the way to get their debts under control. The answer is a definite maybe.<br />While it's much harder to tap your home equity than it was in the past, it's not impossible. Yes, credit is much tighter in general these days, the decline in home values in recent years means that many homeowners no longer have any home equity to draw upon and banks are concerned about possible further declines in home values.<br />But many homeowners still retain considerable equity in their homes, particularly those who don't live in states like Florida, Arizona, Nevada and California, which have borne the brunt of the housing market decline. Such homeowners continue to be attractive clients for lenders. And many homeowners retain untapped credit in their HELOC, which is still available for them to draw upon.<br />Lower interest rates on a home equity loan<br />Compare Home Equity Rates<br />Compare rates from up to 4 lenders for home equity<br /><a class="go" title="GO" href="http://www.mortgageloan.com/forms/form_1b.php?p=he" rel="nofollow">GO »</a><br />The question is, should they? They are some very attractive reasons for doing so. To begin with, a <a href="http://www.mortgageloan.com/finance-glossary/Home-equity-loan">home equity loan</a> or HELOC will very likely have a much lower <a href="http://www.mortgageloan.com/finance-glossary/Interest-rate">interest rate</a> than what many credit cards currently carry. In some cases, the rate on a home equity loan or HELOC may be one half or one third of the 17 percent to 24 percent currently charged on many credit cards - many of which were charging a mere 5 or 6 percent a few months ago. On a balance of $5,000, $10,000 or more, that's a hefty savings.<br />As mortgage interest, interest paid on home equity loans and HELOCs is also tax-deductable, up to a point. A couple can currently deduct the interest on up to $100,000 in home equity loans, and even more if the loan is put into home improvement.<br />So yes, it's possible to save a lot of money by borrowing against your home equity to pay off credit card debt. But many financial advisers say it's still a very bad idea.<br />A HELOC is secured debt<br />For one thing, you're trading <a href="http://www.mortgageloan.com/finance-glossary/Unsecured-debt">unsecured debt</a> for secured debt. Your credit card debt is unsecured - if you can't pay it off, there's nothing the lender can do to you, other than report you as a <a href="http://www.mortgageloan.com/bad-credit">bad credit</a> risk. However, any time of <a href="http://www.mortgageloan.com/finance-glossary/Mortgage_debt">mortgage debt</a> - including a home equity loan or a HELOC - is secured by your home.<br />If you can't make those payments, the lender is entitled to take your home. And particularly in the current economic climate, that extra $10,000-$20,000 you take out to pay off other debts could be the difference between mortgage debts that are manageable and those that are not should you or your spouse become unemployed or otherwise suffer a loss of income.<br />Another reason financial advisors recommend against using home equity to pay off credit cards is that it encourages continued dependence on deficit spending. Too often, the reasoning goes, someone who wipes out their credit card debt finds it too easy to start running them up again - after all, there's a <a href="http://www.mortgageloan.com/finance-glossary/Zero-balance">zero balance</a> and a few small charges won't matter. Pretty soon, they've run their balance back up again and now must contend with the twin perils of credit card debt AND a home equity loan tacked onto their regular mortgage.<br />Back into the credit card debt trap<br />This is how many homeowners got into trouble in the current housing crisis. Some people, it seems, are addicted to debt - they can't avoid the temptation of those seemingly insignificant purchases that quickly pile up into big balances on a credit card. For them, tapping a home equity loan doesn't so much provide them a way to get a handle on their debt as it does wipe the slate clean so they can start all over again! Only they're not yet done with their previous debts...<br />If you do take out a home equity loan to pay off your credit cards, take them out of your purse or wallet and put them away, so you're not tempted to use them for spur-of-the-moment purchases. Many experts advise that you actually cut them up at this point, so they can't be used, but you'll want to retain at least one for emergency expenses, such as a major care repair or as a reserve while traveling. But most of the time, keep it put away to avoid the temptation.<br />Tapping a home equity loan or line of credit can offer considerable savings for homeowners burdened with credit card debt. But only if they're disciplined enough to keep a lid on future expenditures and not fall back into the same credit trap.Unknownnoreply@blogger.com46tag:blogger.com,1999:blog-7663974505430063309.post-17385428855991514872009-03-13T10:00:00.000+07:002009-03-13T10:02:06.798+07:00What Do Lenders Consider During the Home Mortgage Approval Process? [By Nathan Navachi]<p><br />This article will give you a perspective through the eyes of a bank or financial institution so that you can know what they are looking for when it comes to deciding whether or not somebody is considered a trustworthy borrower, and what goes into the mortgage preapproval process.<br />The Difference Between Prequalified and Preapproved<br />While people will sometimes use the words prequalification and preapproval interchangeably, these two words do not mean the same thing and it is important to understand the difference.<br />Prequalification means that you have met with someone at a financial institution and discussed the particular issues of your personal finances such as your income, assets, commissions, and debts, and from that discussion the lender has offered an educated opinion as to how much money you are qualified to borrow.</p><p><br />Preapproval is a much more in-depth evaluation where the financial advisor will actually go over your paperwork such as past paychecks and pay stubs, tax forms such as W2's and 1099's, bank statements, credit reports, and any assets that are owned. After this evaluation you will receive a letter from the lender that specifies how much money you are allowed to borrow pending a good review of the property to be purchased.</p><p><br />What Type of Paperwork Does The Lender Look For?<br />One important thing that your financial institution will look for when deciding whether they should or shouldn't give you a loan is your credit score and past credit history. If you have a good history of paying back you credit cards on time, especially if you can spend $10,000 or more in a month and then pay it off rapidly, this is a good signal of financial competence.<br />So what to do if you have a low credit score or an unattractive credit history? Start by not charging anything more, and then pay off all your credit card balances down to zero. From then on, only charge on your credit cards what you have the money in the bank to pay off immediately.</p><p><br />Lenders will also consider your income over the past months and years by reviewing your paychecks and pay stubs, and they will also look for your tax forms to verify your income. They will want to see the paperwork for your other bank accounts or investment accounts so that they can verify your current assets and work that number into the total evaluation.<br />Also important is your current outstanding liabilities such as credit card debt or other loans. With all of this information, plus any other information deemed appropriate to your personal financial picture, your bank will decide how much money they would be willing to lend you for a home loan.</p><p><br />Nathan Navachi is an expert in the <a id="link_83" href="http://mortgagerefinancingsolution.com/mortgages/" target="_new">mortgage</a> industry and specializes in <a id="link_84" href="http://mortgagerefinancingsolution.com/refinancing/" target="_new">mortgage refinancing</a> information. You can read more of his expert advice at MortgageRefinancingSolution.com</p><p><br />Article Source: <a id="link_85" href="http://ezinearticles.com/?expert=Nathan_Navachi">http://EzineArticles.com/?expert=Nathan_Navachi</a></p><p><a href="http://ezinearticles.com/?What-Do-Lenders-Consider-During-the-Home-Mortgage-Approval-Process?&id=2078501">http://ezinearticles.com/?What-Do-Lenders-Consider-During-the-Home-Mortgage-Approval-Process?&id=2078501</a></p>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-7663974505430063309.post-28444430302135134732009-03-13T09:56:00.000+07:002009-03-13T09:57:58.285+07:00Falling Home Prices Impacts more than Home Equity [By:Catherine Brock]The impact of falling home prices on home equity values has been well documented; but now, other areas are being affected, as well.In the board game Mouse Trap, a crank-operated device sets off a series of events that ends with one player getting stuck in the trap. Today's <a href="http://www.mortgageloan.com/finance-glossary/Real_estate">real estate</a> industry seems to have its own game of Mouse Trap going on, as falling home prices create unexpected consequences that can catch homeowners, local governments, renters, and <a href="http://www.mortgageloan.com/finance-glossary/Property">property</a> investors off guard. Incredible shrinking home equity Through the end of September 2008, the Standard & Poor's/Case-Shiller home-price <a href="http://www.mortgageloan.com/finance-glossary/Index">index</a> had fallen more than 23 percent since its highpoint in 2006. That equals an average decline of $23,000 for every $100,000 of original home value. The impact on household home equity has been striking; existing home equity credit lines have been cut or canceled, and thousands of homeowners have fallen <a href="http://www.mortgageloan.com/finance-glossary/Underwater">underwater</a> on their first mortgages. Existing homeowners and new homebuyers are also facing opposition from lenders in securing equity-based financing going forward. Property tax appeals galore Declining home values carry at least one silver lining in their clouds: lower property <a href="http://www.mortgageloan.com/finance-glossary/Taxes">taxes</a>. Homeowners may get an automatic <a href="http://www.mortgageloan.com/finance-glossary/Reassessment">reassessment</a>, but it's more likely that they'll have to appeal to realize such <a href="http://www.mortgageloan.com/finance-glossary/Savings">savings</a>. The amount of the reduction will vary, depending on when the property was last assessed. New homebuyers won't see a huge difference, but those who purchased in 2005 and 2006 could come out with a substantially lower tax bill. Unfortunately, these savings will come at the expense of local governments. Already, many agencies are cutting services, laying off employees, and imposing furloughs to adjust to changing economic conditions. Further reductions in property taxes will widen those budget shortfalls. Rental market madnessThe home rental market is getting a nice boost from anemic home values-mainly because no one wants to sell their property when market prices are so weak. People who don't have to sell are choosing to take rental income while they wait for property values to recover. Existing rental property owners are feeling the extra competition as more homes become available for rent. At the end of January, The New York Times reported that rents in the Big Apple were dropping fast. Landlords in other smaller communities, however, are still reporting steady demand from well-qualified renters. A combination of factors may be contributing to this trend, including the unstable housing market, uncertain job outlook, and a tight lending environment. Those who feel that buying a home right now is a touch scary are content to rent until economic conditions change. Sliding home prices have set a lot of wheels in motion, and those wheels are impacting far more than home equity values. Local governments, renters, and property investors, as well as homeowners, are going to feel the brunt until this housing market recovers.<br /><br /><a href="http://www.mortgageloan.com/falling-home-prices-impacts-more-than-home-equity-2914">http://www.mortgageloan.com/falling-home-prices-impacts-more-than-home-equity-2914</a>Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-7663974505430063309.post-72404456919183315202009-03-13T09:52:00.000+07:002009-03-13T09:54:46.423+07:00Your Free Annual Credit Report - Who Looks at it and Why [By Jeremy Englewood]Did you know that if you're applying for a new job or are being considered for promotion, your employer (current or prospective) can ask to see a copy of your credit report? Here's a list of entities that are allowed to request for your report and what they use it for:<br />Current and prospective employers. Many employers are now requesting for copies of their employees' credit report to conduct background checks, and when considering an employee for promotion or reassignment especially for key or sensitive positions. Before they can get a copy of your credit information, however, employers must get your written authorization and provide certain disclosures.<br />Government agencies. If you have applied for public funding assistance, government agencies may request to see your credit report to check if you are eligible for funding. Their purpose is to see if you have other sources of income or have any assets they're not currently aware of. If you have kids and are in the midst of a divorce, state and government officials may get a copy of your annual credit report to see if you can make child support payments.<br />Insurance companies. If you apply for an insurance policy, the insurance company can ask to look at your report in order to check your medical history or see if you have filed health insurance claims in the past.<br />Collection agencies. Collection agencies can look at your report if they are trying to collect an overdue debt from you. Their purpose is to find out what assets you have. Judgment creditors will also want to look at your report to decide if they will begin collection efforts against you.<br />Potential creditors. If you have applied for credit, credit companies and lending agencies will usually look at your free annual credit report to see if your credit score is high enough and if you have a good payment history on your other debts and revolving credit accounts.<br />Landlords and mortgage lenders. Because a home mortgage or rent arrangement is a long term endeavor, mortgage lenders will scrutinize your report before lending you money to buy a home.<br />Utility companies. Utility companies may ask for a copy of your report from a credit bureau in order to get a picture of your payment history and habits. Your free annual credit report may be a deciding factor on whether you will be allowed to subscribe to certain monthly plans or not.<br />Grant and student loan lenders. If you're applying for a grant or a private student loan, the lender may ask to see your report in order to check your ability to pay.<br />Your credit report is a confidential document. While the Federal Credit Reporting Act places certain restrictions on who can get a copy of your report, you should periodically get a copy of your annual credit report free and check to see whether unauthorized parties have been given access to your credit information.<br />Check out our website for articles on how to get your annual report for free and other useful advice on credit repair. You'll find a wealth of practical and valuable information on credit repair and other personal finance topics.<br />Jeremy Englewood is a credit manager and writer with over fifteen years experience in the banking industry. His sensible and practical advice on personal finance topics have provided inspiration to people who want to establish or repair their credit. You can read more of his articles and advice on <a id="link_83" href="http://www.howtoestablishgoodcredit.com/free_annual_credit_report.htm" target="_new">your free annual credit report</a> at <a id="link_84" href="http://www.howtoestablishgoodcredit.com/" target="_new">Howtoestablishgoodcredit.com</a>.<br />Article Source: <a id="link_85" href="http://ezinearticles.com/?expert=Jeremy_Englewood">http://EzineArticles.com/?expert=Jeremy_Englewood</a>Unknownnoreply@blogger.com6tag:blogger.com,1999:blog-7663974505430063309.post-69260761679969484882008-07-14T15:58:00.000+07:002008-07-14T15:59:20.829+07:00Bad Credit Score? Rewrite Your History! [By Jess Peterson ]Your credit score is not as good as you would like to? Have you made bad moves with your finances? You can start changing your situation and also solve your economical trouble by following these tips.<br /><br />Where To Start?<br /><br />Find what you are doing wrong. You can not change your past actions, but you can always find what is that you are doing wrong nowadays and start working on it.<br /><br />Try to make a list of all your current expenses including your monthly budget, credit cards and any loan you may have. Then try to find out what is the most difficult bill to pay month by month and start working there.<br /><br />Credit Card Issues<br /><br />If your biggest problems are credit cards, take a few minutes to review your credit card's statements from the last six months. Make a list of which things are overcharging your credit card. Then divide those expenses into necessary and unnecessary, and try to leave this last group out of your plans from now on until your situation improves. Remember that any little thing counts, and you will be saving a lot of money in the long term.<br /><br />Loan Repayment Issues<br /><br />Take a while to sit down and organize your loan payments. Take care first of those that are the most urgent to avoid prosecution, and then follow the order starting with those that are near to an end.<br /><br />Found My Problem. Now What?<br /><br />Once you have defined what is causing you more difficulties, you should evaluate your options and decide which will be your next move.<br /><br />Payday Loans Are A Good Option If You Need Fast Cash<br /><br />Payday loans may be the best option to pay your bills if you are near a deadline. You are eligible even with bad credit, and you can apply online. Answer is always fast, so you know almost instantly if you have been approved. Providing your bank account details the requested amount will be deposited in your account within the next 24 business hours from your application.<br /><br />How To Use A Payday Loan To Improve Your Credit Score<br /><br />Payday loans are meant to take you out of a financial hurry, you receive the money almost instantly and the loan terms are no longer than two weeks.<br /><br />As you are eligible even if you have bad credit, you can make these loans to work in your favor, by using the money to pay those urgent bills and then, repaying the loan on time. As any other loan you take, payday loans will impact into your credit history and if you manage to accomplish what you have agreed to, this will ad some points to your credit score.<br /><br />A Few Important Things To Remind When Applying For A Payday Loan<br /><br />As you have the opportunity to apply online, take your time to search and compare for different lenders and what do they offer to you in terms of interest rates, repayment options and loan conditions.<br /><br />Ask only for the amount of money you need and you will be in condition to repay, remember that accomplishing with the loan terms is a good chance to improve your credit score.<br /><br />Do not miss the repayment deadline, if you do so, you will have to pay penalty fees and afford extra charges and interests on the late payment. Doing this will also affect your credit records.<br /><br />Consider Debt Consolidation Loans<br /><br />Debt consolidation loans may also be a good option if you have many loans to repay. By consolidating your loans, you will be grouping some of your loans into only one loan. This will save you a lot of money on interests and will switch your many bills into only one. It will also help to improve your credit history if you take the commitment to pay your bills on time.<br /><br />As for applying for any loan, look carefully and compare lenders before taking the decision to consolidate your loans.<br /><br />Perhaps you will prefer to finish paying those loans that you have almost done with, by separated; and consolidate then only those loans that you are starting to repay.<br /><br />Choose your lender carefully, ask your actual lenders or find a new one, the important thing to do is to have knowledge of all the terms and conditions of the chosen lender before applying for a debt consolidation loan.<br /><br />Jessica Peterson is a Personal Loan Consultant with more than twenty years of experience. For more information about Unsecured Loans, Guaranteed Credit Cards, Unsecured Loans, Fresh Start Loans, Debt Consolidation, Student Loans and others please visit http://www.yourloanservices.com<br /><br />Article Source: http://EzineArticles.com/?expert=Jess_PetersonUnknownnoreply@blogger.com0tag:blogger.com,1999:blog-7663974505430063309.post-42350357606158406742008-07-13T08:20:00.000+07:002008-07-13T08:21:19.037+07:00Student Credit Card Facts [By Tom Tessin Platinum Quality Author]College credit cards can also be known as student credit cards. A student card is a new term for young people attending college. Older people are aware of credit cards, which are used for various purposes.<br /><br />College students mostly use these types of credit cards, which are somewhat similar to normal credit cards. A student might have a credit card that had links to his/her parent's account.<br /><br />Distinctions From Normal Credit Cards:<br /><br />1. The major difference in these types of credit cards is they are exclusively for school purposes.<br />2. The second difference is students are not aware about the usage of these cards, as a result, they start spending on unnecessary expenses.<br />3. Money spent on cards is to be paid back.<br />4. Students need to be aware of the details of card usage.<br /><br />Credit card companies require a caretaker (parent or guardian) on part of the student applying for such credit card to keep that student away from all hassles. One advantage is that the credit added to such type of credit cards is much lower than credit cards used by working adults.<br /><br />Students need to undergo training on managing such cards and their overspending habits. They also need to be aware of the importance of good credit rating. Good credit history helps in getting benefits such as possessing credit cards for financial purposes.<br /><br />Another crucial fact is college students are at great risk with credit cards. One main reason for this kind of trouble is that many student credit cardholders start using such credit cards at a very young age with little knowledge of finance management.<br /><br />These credit cards give students a liberty to spend on whatever they like. It takes time to understand that you need to have a good credit rating right from the start. It will help you in future, when applying for regular credit cards for loans. Students also need to know that positive credit ratings will help them in their careers, when they finish their graduation. Undergraduates can take care of their scholarships and grants given to them by educational institutions with the help of these credit cards.<br /><br />Avoid Overspending:<br /><br />It is the responsibility of college students to maintain their card usage limits. You can maintain it easily by understanding the five signs of overspending:<br /><br />1. Delay the minimum payment only once.<br />2. Spend within a set budget.<br />3. Make use of one credit card to pay the balance of another card.<br />4. Work towards covering your credit limit.<br />5. Always, make minimum payments on time.<br /><br />Four prime reasons for student credit card debts are increasing educational expenses, insufficient knowledge about credits, peer pressure to expend, and offers of impractical credit lines.<br /><br />College students using these types of credit cards have an option to take the help of a financial counselor to get rid of their financial troubles. Taking this step early in life will help you in understanding the importance and impact of credit on your future.<br /><br />Tom Tessin is an author for FINDcollegecards.com that is geared toward students looking for a student credit card<br /><br />Article Source: http://EzineArticles.com/?expert=Tom_TessinUnknownnoreply@blogger.com24tag:blogger.com,1999:blog-7663974505430063309.post-13835179811362661612008-07-12T21:19:00.000+07:002008-07-12T21:20:41.774+07:00All By Yourself: Sell Your Home without a Broker [By: Greg Mischio]In a declining real estate market, anyone selling a home is desperately trying to squeeze home equity dollars out of a sale. More sellers are deciding to be their own brokers-a bold move that has equal amounts of risks and rewards.<br /><br />Compare Home Equity Rates<br />Compare rates from up to 4 lenders for home equity<br /><br />GO »<br />As the housing market continues to tank, homeowners are considering alternative ways to generate as much home equity as possible from their sale. The first thing on the chopping block is often a real estate broker's commission.<br /><br />In the past, when housing values were sky high, homeowners were willing to let a real estate broker claim a 5 to 7 percent commission. But the new declining market has changed everything, and many homeowners are trying to sell their homes without a broker.<br /><br />For Sale By Owner (FSBO)-the benefits<br />Thanks to the Internet and a realization that FSBOs will sell on the market, the do-it-yourself approach to home sales has steadily increased over the years. And why not? The marketing methodology that most realtors use isn't too sophisticated-it's as simple as "For Sale" signs, open houses, and posting on websites. Many homeowners believe that they can create their own materials and do just as well as, if not better than, a realtor.<br /><br />The Internet has provided homeowners with a reason to be confident. FSBO websites are everywhere. Because only a licensed real estate broker can include your home in the Multiple Listing Services, FSBOs are a viable alternative, and many buyers scour all property websites to find the best deal.<br /><br />If FSBO proves successful, you stand to save quite a bit of money on a broker's commission. The standard payout for a broker tends to be 5 to 7 percent, although today's market has forced many realtors to slash their compensation. Nevertheless, any percentage you retain can be a healthy chunk of change, especially if your home has a high selling price.<br /><br />FSBO-the drawbacks<br />There are always two sides to every story, and the FSBO tale is no different. When you pay for a realtor, you gain access to the MLS, a listing that has no equal on the market. Immediately, you'll have terrific exposure to countless realtors. By going FSBO, you lose this advantage. <br /><br /><br />Second, selling a home is hard work, and can take hours and hours of time. You'll spend time posting pictures on the Internet, and holding open houses and individual showings. Even then, if your home is in an undesirable neighborhood, you may not be able to muster the resources to get the sale done.<br /><br />In a real estate environment in which home values are declining, many sellers are considering becoming their own brokers. Before you choose this option, however, carefully weigh the risks and the rewards. You may save big money by not having to pay a realtor's commission; you could also lose big if you don't have the resources to sell the property. It's a tough call-make sure that you think it through before deciding to "do it yourself."Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7663974505430063309.post-15273256997839935742008-07-08T20:58:00.000+07:002008-07-08T21:00:00.509+07:007 Tips to Repair Your Credit Score Fast [By Xylene Belita]Do you think you need to repair your credit score fast? Does your credit report have some negatives on it? Do you have poor credit record? Have you ever made a lot of loan applications and missed some payments in the past? Then these tips on how to repair your credit score fast will show you how to deal with your problem permanently.<br /><br />1. Correct Any Mistakes on Your Credit Report<br /><br />One of the first things you should do if you want to repair your credit score fast is to correct any wrong info from your credit report. Write to the credit bureau and request to correct the mistakes on your credit report. If in cases that they do not agree with you that it was a mistake, you can add a comment onto your credit report to explain. But, be sure to keep your comments neutral, and there is no accusation to anybody.<br /><br />2. Create A Financial Plan<br /><br />After taking care of any mistakes on your credit report, then you must start to manage your finances in a much better way. You should set a budget and stick to it. Only buy what is truly necessary for your needs.<br /><br />3. Keep Your Credit Cards<br /><br />If you want to to build a good credit score fast, you should maintain a good payment history on your credit cards. Use your credit cards only for necessary purchases.<br /><br />About two to four credit cards is a good number to have. You will not be able to repair your credit score fast if you only have one credit card. Also, if you have more than four credit cards, you would have a bad credit report. Having too many cards with large balances on them would not help your credit score. You would probably be better off financially and for your credit score if you consolidate some of your debts into a lower interest loan. However, you should not really overdo it.<br /><br />If you need to reduce your number of cards, drop the newest credit cards first. An older credit card will count for more points as you start to improve your credit score.<br /><br />4. Always Send Payments on Time<br /><br />Of all the ways to repair credits, it is very important to always pay on time. You should never miss a payment on any loan or bill that will show on your credit report. Even if a loan company or credit card company offers you a month or two grace periods as extension to make payments, it is better if you do not accept this offer. Missing the due date may still show as a missed payment on your credit report. So, it is better for you to make your payments on time, if you really want to repair your credits. Also, be sure that your payments are received on or before the due date.<br /><br />5. Pay More Than The Minimum<br /><br />When it is possible, send credit card payments that are more than the minimum amount due at any time that you can. It will help your credit rating, save you on interest, and would bring you closer to debt relief.<br /><br />Take note not to max out your credit cards. Ensure that the balance amount is way below your credit limit. This will help improve your credit report.<br /><br />6. Don't Make Too Many Loan Applications<br /><br />Applying for too many loan applications will quickly flag you as a possible bad payer, so do not ever do it. Also, do not switch credit cards several times to take advantage of offers, or get new loans to pay off old loans.<br /><br />To consolidate all your debts, just do it once. If you are shopping around for the best terms, try not to give out your name and address.<br /><br />7. Make That Phone Call<br /><br />If you are in a situation where you will have a difficult time meeting the deadline for a payment, do make that phone call. It is much better for you to call them, than waiting for them to contact you. If you are going to miss payments, they might start with the collection agencies, and that is really the worst thing that can happen for your credit score.<br /><br />Talk to them briefly and explain your situation truthfully. Be prepared to make them an offer and negotiate. Create a payment plan that is realistic for you. If they will offer you two payment-free months, say something like: "No thank you, I would prefer to keep paying a little each month". This will help you avoid missed payments showing on your credit record and proves that you are really serious to have debt relief.<br /><br />When you have a new payment plan worked out together with them, do try to ask them if they would agree to stop reporting on you, so that you have a chance to repair your credit score fast. Many companies will agree to this request, as long as you commit to send payments on time and not miss any payments on your new plan.<br /><br />Once you follow these tips, you will be able to improve your credit score quick. It will also help you to manage your finances and achieve debt relief in the future.<br /><br />Do you know that you can also easily fix your finances? Find out at http://www.squidoo.com/creditfilereport More info: How To Remove Wrong Info From Your Credit Report.<br /><br />Article Source: http://EzineArticles.com/?expert=Xylene_BelitaUnknownnoreply@blogger.com1tag:blogger.com,1999:blog-7663974505430063309.post-50312354542598505092008-07-06T00:04:00.000+07:002008-07-06T00:05:06.141+07:00Credit Report and Score Monitoring - Why You Need Both (Preferably Daily) [By Sean Dean]Today's volatile economy coupled with a huge increase in living our lives online and on plastic leave us vulnerable to not only identity theft, but damaging changes to our credit score that can effect our ability to obtain housing, jobs, loans, and credit.<br /><br />These conditions have given rise to a large increase of consumers who want or need to keep a close watch on their credit records, transactions, and any suspicious activity and / or mistakes that arise. Whether you really need this service or not greatly depends greatly on your situation. If you make purchases solely with cash, own your your house outright, if you don't rely upon your credit score for mortgages, credit cards, housing, or job seeking, then you can likely skip this.<br /><br />But, here are a few scenarios in which having credit report and score monitoring might be a good idea:<br /><br />You May Be Seeking A Loan, Credit, Or Refinancing In The Future And / Or You're Trying To Improve Your Credit Score: Unfortunately, today it's just a reality that your credit score can define who you are financially speaking. Today it's common place for perspective employers, schools, landlords, loan officers, credit companies, and mortgage brokers to carefully check your credit for even very small transactions. Getting a reliable credit score that covers the major 3 reporting agencies is a necessary first step to getting an accurate view of how creditors will see you. But this is only one piece of the puzzle. Today, credit monitoring companies commonly help clients come up with a plan to improve their credit sore / rating and can help aid you in correcting any errors or mistakes on your credit report. I was surprised to learn that up to 70% of reports have at least small errors that can easily be fixed.<br /><br />You've Had A Recent Divorce / Separation And / Or Need To Separate Accounts Because You Are Trying To Establish Your Own Individual Credit: Even if your (ex) spouse cooperates fully, it can be a good idea to check and make sure there are no outstanding accounts, references to, or records of any one but you on your accounts. It's better to know this and take care of it before you need to procure funding and then have this issue come up and stall or ruin the process. Sometimes, to secure funding, couples split their assets / debts if one person's credit is bad. This is another situation where it's a good idea to check and make sure all accounts reflect this information before you're in a situation where this could hurt your chances to obtain reasonable credit.<br /><br />You've Had, Suspect, Or Are At High Risk For Identity Theft: If you have multiple financial credit accounts, bank online, pay by credit card or have had a recent death or birth in your family, you could be at a higher risk for identity theft. It's well documented how costly, time consuming, and annoying it can be for victims of identity theft the sort this all out. Not only will monitoring companies typically immediately notify you of any activity, they will also sometimes offer insurance should theft occur.<br /><br />For people who've already had or suspect identity theft, it's important to carefully monitor your accounts so that you can immediately freeze unauthorized transactions. Unfortunately, thieves only need an extremely short amount of time to rack up a large sum of debts fast and cause a huge amount of damage to your credit that can be quite maddening to remedy. That's why daily monitoring is preferred. Anything else gives thieves too much time to do too much damage.<br /><br />While these annoying scenarios are yet another cost of a high tech society, if there is any good news, it's that the popularity and need for these monitoring services has brought their cost down. You can now usually get daily monitoring for around $10 per month. For a couple dollars more, you can get thousands of dollars of protection should an identity theft occur.<br /><br />I don't believe that free credit monitoring is a great idea as most times it will only notify you of a change, without telling you what that the change is. (Often you'll then have to pay for this information). And it's never a good idea to hand over your personal financial information to anyone with whom you are not intimately familiar or a large. That's why I think its a better idea to stick with well known, larger financial institutions (preferably one of the major three reporting companies).<br /><br />Credit Score Monitoring is a website that helps consumers obtain, evaluate and monitor their credit scores for the lowest price possible, starting at $9.99. Visit us at http://know-your-fico-credit-score.blogspot.com/<br /><br />Article Source: http://EzineArticles.com/?expert=Sean_DeanUnknownnoreply@blogger.com0tag:blogger.com,1999:blog-7663974505430063309.post-66070804364905388182008-07-03T09:07:00.000+07:002008-07-03T09:08:30.224+07:00Changing Climate of Home Equity Borrowing [By: Tom Kerr ]Trends in home equity borrowing during the past two decades have been dramatic; within the past two years, home equity loans have been on a virtual roller coaster ride. Just a year ago, homeowners were relying on them as ATM machines. Now, banks are yanking them from their product menus.<br /><br />Back in 1986, the IRS tax rules were rewritten to create deductions for homeowners that were similar to those enjoyed by taxpayers who owned income-producing property. The change precipitated a real estate crash, because tax advisors recommended that clients dump their rental properties. It also launched a new trend in home equity borrowing, because consumers could enjoy a deduction for interest paid on home equity loans. <br /><br />Compare Home Equity Rates<br />Compare rates from up to 4 lenders for home equity<br /><br />GO »<br />Enjoying home equity tax breaks<br />Although there are some restrictions related to the size of the deductions-equity loans used for home improvements provide potentially higher deductions than those spent on a new car, for example-home equity tax incentives are a big plus. Once the IRS offered the tax perks, taxpayers began to shift massive amounts of their debt into equity loans, and away from other products like credit cards and auto loans. They also began using their equity more freely, especially during bullish real estate market cycles when property values climbed quickly, creating increased equity on paper.<br /><br />Swelling home equity riches<br />The clearest example of instant equity was during the most recent rise in home prices. Housing inflation swelled, creating the so-called bubble. In some regions of the U.S., prices doubled within a matter of months. As market values rose, this contributed equity to the underlying properties. If you buy a home for $150,000 and owe $100,000 on the mortgage, for example, you enjoy $50,000 worth of equity. But if the value of your home suddenly leaps to $300,000, you automatically and effortlessly have $200,000 in equity-a fourfold increase. This is what led many ordinary homeowners to catapult into paper wealth, and they eagerly pulled that cash value from their homes through various equity loan products. A 2006 study by the Pew Research Center revealed that the majority of personal wealth claimed by homeowners was in the form of real estate equity. Twenty percent of all homeowners had an outstanding equity loan in that year, and banks promoted such instruments aggressively by offering lower rates and higher loan amounts.<br /><br />Collapsing bubble<br />Then, the bubble burst, housing prices plunged, and the source of paper wealth vanished, leaving many borrowers overextended and owing more than their homes were actually worth. Lenders got left holding the bag-which often happened to be empty-and now they're rapidly reeling in their lines of credit in an effort to avoid further losses from loan defaults. During 2008, many major lenders eliminated or severely curtailed home equity lines of credit, lowered the lending ratios on second mortgages, and increased property appraisal, income, and credit score requirements. <br /><br />The easy money equity party is officially over. The real estate ATM machine has finally been unplugged.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7663974505430063309.post-73962969820172996822008-07-02T20:22:00.000+07:002008-07-02T20:23:13.469+07:00Legal Ways to Repair My Bad Credit [By Tony Banks ]Some people believe that it is not legal to repair their credit rating. This is just not the case and the opposite is actually true. Improving your credit rating is possible due to the laws on the books that govern how the credit bureaus must handle credit files.<br /><br />You are allowed to dispute information on your credit report and the bureaus have a process they must follow when handling your disputes. If the proper steps are not followed they must delete the disputed account within a certain amount of time.<br /><br />The key to legally repairing your credit file is to understand these laws and to make sure the bureaus follow the laws as well. There are a lot of credit repair companies that charge a monthly fee to handle the process for you, they will send the dispute letters to the bureaus on your behalf.<br /><br />The other option is to do it yourself with a credit repair kit, it would consist of all the pre written letters you would need to send to the bureaus and show you step-by-step what you need to do when dealing with credit bureaus as well as collection agencies.<br /><br />These are the legal ways to repair your credit rating, you want to also beware of scams claiming they can give you a "new credit file". This is an illegal scam some people try to sell online. These methods don't work but can also get you into a lot of legal troubles as well so make sure you don't fall for them!<br /><br />To learn how to raise your credit score 249 points in 29 days and get approved for that car, home or credit card loan you need, click here to get started today.<br /><br />Article Source: http://EzineArticles.com/?expert=Tony_BanksUnknownnoreply@blogger.com0tag:blogger.com,1999:blog-7663974505430063309.post-41112368724728112092008-06-30T10:29:00.000+07:002008-06-30T10:30:37.013+07:00Four Tips To Sell Your Home Now [By: Catherine Brock]With the current real estate market favoring buyers, it's harder than ever to sell your home. If you're serious about wanting to sell, here's a look at what you may have to do to get the deal done. <br /><br />Compare Home Equity Rates<br />Compare rates from up to 4 lenders for home equity<br /><br />GO »<br />In an early episode of The Twilight Zone, character Mike Ferris wanders through a deserted town wondering where all the people have gone. If you're trying to sell your home right now, you might have that same ominous feeling-that all the homebuyers in your city have mysteriously vanished. Unfortunately, the buyers may not reappear until you take some aggressive action. Here are four tips on how to proceed with your hard-to-sell property. <br /><br />Tip 1. Offer freebies <br />You could offer a cash rebate to cover the closing costs, but you might also consider something more creative. What about a new flat-screen television to go in the family room? Or new appliances for the kitchen? You'll want to set your budget first, and then create a list of freebie ideas that fit within that budget. To get your brainstorming session started, walk around your house and look for the things it needs, such as drapes, carpet, updated plumbing, a computer workstation, etc. Some incentives may not be legal, so get approval from your realtor before you start advertising your idea. <br /><br />Tip 2. Give the house a makeover <br />You can get an edge on the competition by spicing up your home with a makeover. Home equity is a great resource in this regard; consider taking out a home equity loan and using the cash to upgrade the kitchen or bathrooms. <br /><br />Tip 3. Slash your price <br />One of the easiest ways to spark interest in a home is to cut the price. Your neighbors won't appreciate it very much, but desperate times sometimes call for desperate measures. Be strategic in your approach: Start by taking a good look at recent sales prices in your neighborhood. Compare the features, living space, and condition of your home to the homes that have sold. Set your price just below what you think the property is worth. Go even lower if you need the home to sell quickly. <br /><br />Tip 4. Turn it into income <br />You can always shelve your plans to sell and rent the home instead. Since mortgage loans are harder to come by, many households have to settle for renting rather than buying. First, calculate what you'd need to charge to cover your mortgage payment, mortgage insurance, landlord's insurance, and property taxes. Then, check the rental listings in the local newspaper to get a feel for market rents on similar properties. If the numbers work, renting might be your best option. <br /><br />Don't go through another open house wondering, "Where is everybody?" In this tough market, you have to take some decisive action now to have a fighting chance at turning your home into cash.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7663974505430063309.post-32092806327138198732008-06-28T14:45:00.000+07:002008-06-28T14:47:16.390+07:00How to Get a Mortgage After Foreclosure [By James McKerr]Getting a mortgage after foreclosure is not easy however if you do your preparation and understand fully what is required you will have a much great chance of success. The following tips are designed to put you on the right track and get you back owning real estate before too long.<br /><br />Look back to last time<br /><br />Having been through one foreclosure you certainly will not want to repeat it. Take some time to reflect on how you got in to trouble last time and make a list of things you did wrong. These items may include some of the following:<br /><br /><br />Not fully understanding the features of you mortgage (teaser rates etc) <br />Not scheduling automatic payments for regular monthly bills <br />Not setting a monthly spending budget <br />Over indulging on credit cards <br />Spending beyond you means <br /><br />It may be hard identifying these things, or even admitting them however the sooner you do the better prepared you will be to not make a repeat mistake.<br /><br />Repair your credit score<br /><br />This is a vital piece of the puzzle. In plain terms the better your credit score the more likely you are to get a new mortgage after foreclosure and the cheaper it will be. Repairing your credit score is easier than most people think. If you are unsure exactly where to begin it may be worth considering a credit repair program or scheme to show you exactly what to do.<br /><br />Take action today<br /><br />One of the most common reasons for failure is people not taking action. If you want to repair your credit score start doing it today. Why delay as it will only get worse. Take action everyday and the problem will soon go away.<br /><br />For learn more about how to get a mortgage loan after foreclosure or how to repair your credit please follow one of these links.<br /><br />Article Source: http://EzineArticles.com/?expert=James_McKerrUnknownnoreply@blogger.com3tag:blogger.com,1999:blog-7663974505430063309.post-21780118062553907112008-06-28T00:38:00.001+07:002008-06-28T00:40:01.972+07:00NEW PTC SITE!!!This is the new ptc site<br /><a href="http://www.embux.co.nr">www.embux.co.nr</a>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-7663974505430063309.post-10612457426261651712008-06-28T00:22:00.000+07:002008-06-28T00:23:04.150+07:00Bad Credit Mortgage - Mortgage Loans For People With a Poor Credit Rating [By Apurva Shree]Bad credit mortgage helps you to buy your dream house in spite of a poor credit record. Such a mortgage facility was created mainly due to the increase in the number of people with a poor credit rating.<br /><br />A Brief Overview<br /><br />Having low credit has become a common occurrence now and the system of bad credit mortgage has come about to provide credit to such people. For a person who has a bad poor financial rating, it may seem that his dreams of buying his own house are unattainable. However, now, there are many lenders specializing in providing special programs to people with poor score. A poor credit score indicates a higher risk of lending. The interest rates on these programs are therefore exorbitantly high. But these mortgages not only help you buy your own house but also help you in improving your credit rating provided the monthly payments are made on time.<br /><br />How Does Your Credit Rating Become Bad?<br /><br />Your credit rating basically depends on the reports of lenders or banks from whom you have taken loans, credit or other forms of financing in the past. Positive reports from these lenders or banks result in a good credit rating and adverse reports lead to a awful credit rating. Bankruptcies and court judgments can also result in a bad rating. It can also be due to failure in meeting payments of outstanding debts, credit payments or mortgage arrears. These loans provide financial assistance to people with bad financial score and also help you to boost up your credit score with timely payments. These loans thus help you to tackle all financial problems caused due to bad credit.<br /><br />Important Tips To Note While Availing Bad Credit Mortgages<br /><br />Take care that the amount borrowed by way of your mortgage is not too high or else you may find it difficult to keep up with the monthly payments. Always keep in mind that the interest rates could vary in the future. Also consider the fact that there could be fluctuations in your income as well. The company could levy higher fees and penalties for non-payment and you should be aware of these conditions. There are certain companies that could even penalize you for prepayment of your program. Refinancing in these cases could lead to heavy losses for you. So you should be certain of the amount and length of penalties on prepayment. Some mortgage companies have rewards for improved money management and may offer incentives like lesser rates of interest for timely payments. Keep all this in mind while going in for bad credit mortgage.<br /><br />Bad credit mortgage helps you to buy your dream house in spite of a bad credit record. For more information visit bad credit mortgage loan<br /><br />Article Source: http://EzineArticles.com/?expert=Apurva_ShreeUnknownnoreply@blogger.com8tag:blogger.com,1999:blog-7663974505430063309.post-23981656656891946142008-06-28T00:12:00.000+07:002008-06-28T00:21:43.044+07:00All You Need to Know About Bad Credit Mortgage Loans [By David Belmont]Bad credit mortgage loans are specifically designed for people with a bad credit rating. Although these loans generally have a higher interest rate, it is possible to secure good rates through successful negotiations.<br /><br />The Terms And Conditions Of Bad Credit Mortgage Loans<br /><br />It is next to impossible to say that you can get a mortgage loan with lowest interest rates when you have a bad credit rating. It is accepted therefore that these programs have higher interest rates as compared to conventional loans. The loan company decides the interest rates for your loan. However, in this day and age, everything under the sun is negotiable. With a large number of loan companies entering into the market of bad credit financing, competition has become intense leading to the lowering of interest rates. It is, hence, possible through proper negotiations to get good rates on your bad credit loan. Paying a higher down payment can also lead to reduction in the interest rates. Higher the amount of down payment, lesser the interest rates.<br /><br />Search Around For The Best Bad Credit Mortgage Loan<br /><br />A lot of research needs to be done before deciding on the ideal mortgage program for people with bad credit rating. Do not sign up with the first lender that you approach. There may be others who offer you better interest rates and lower origination costs also. Make sure that the lender clears all your queries before entering into a contract with him. A lender who tries to rush up a sale without answering all your questions should be avoided. It is highly recommended that you approach a broker for your home loan. Many of these brokers are experts in their field and can get negotiate till they get you the loan at ideal interest rates.<br /><br />The Brighter Side Of Bad Credit Mortgage Loans<br /><br />The main benefit of poor credit loans is the fact that you are still eligible for a loan despite your credit rating. You can still fulfill your dream of buying your own home. Even though the rate of interest may be high, you still get to avoid high rentals as well as enjoy the comforts of your own home. Also, the high interest rates will not last for ever. Once your credit score starts improving and it is proven that you are able to pay off your debts by making timely payments on your bills including your mortgage loan, you can apply for refinancing your loan. This could help you get better interest rates. Finally, you can get lowered monthly payments at lower interest rates as well as improve your credit score.<br /><br />Bad credit mortgage loans are specifically designed for people with a bad credit rating. For more information visit bad credit mortgage loan<br /><br />Article Source: http://EzineArticles.com/?expert=David_BelmontUnknownnoreply@blogger.com57tag:blogger.com,1999:blog-7663974505430063309.post-36561738766921228922008-06-11T17:41:00.001+07:002008-06-11T17:42:39.333+07:00HelloHello everybody....<br /><br />I've just came back.<br /><br />Thank U for every view for this BLOG.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7663974505430063309.post-56301980763620564692008-02-19T15:23:00.000+07:002008-02-19T17:07:21.317+07:00Negotiation With Mortgage Companies [By Manny Vetti]<div><br />Finding the lowest rates and best terms used to be a difficult task. Fortunately, with the proliferation of the Internet, finding the lowest rates is a lot easier today then it was in the past. Why? Most mortgage seekers have moved to the internet to research rates and find mortgage companies, this means the mortgage companies have to position themselves where people are looking. It is so easy for every mortgage company to make themselves available on the internet to many people, this increases the competition. Since these mortgage companies know they are competing for your business with other mortgage companies they are more likely to start off giving you good rates and terms. But don't always assume that. Realize you have the power to negotiate because they want your business.<br />Mortgage companies have many different mortgage products they can offer you. For example, when you refinance you may want a fixed rate or an adjustable rate, you may want your repayment term to be 5 years, 15 years, or 30 years. Whatever the case, a mortgage broker's job is to provide you with a loan product that benefits you and yet represents a good investment for the lender.<br />Be aware of the current national mortgage rates as you don't want to be demanding from the lender a rate that is not possible. Be sure to speak to a few of the lenders so you will have a few quotes you can use as benchmarks or leverage when negotiating. Lenders can't just give you a quote unless they know your credit score and some other financial information so be prepared. Also be aware that you can negotiate closing costs as well which is why you want to get a few good faith estimates. By talking with different lenders they can all offer different products and rates and it gives you the flexibility to choose what rate/solution would fit your individual needs the best. Lastly, make sure you ask questions!<br />Find more mortgage solutions by visiting <a id="link_79" href="http://www.endthisdebt.com/" target="_new">http://www.endthisdebt.com</a> a website that specializes in providing refinance and mortgage advice as well connecting individuals with mortgage specialists based on your individual needs<br />If you need help with your refinance and would like to get free quotes click the link below and fill out the form about your current situation.<br /><a id="link_80" href="http://www.endthisdebt.com/refinance.cfm" target="_new">Four Free Mortgage/Refinance Quotes</a><br />Article Source: <a id="link_81" href="http://ezinearticles.com/?expert=Manny_Vetti">http://EzineArticles.com/?expert=Manny_Vetti</a></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7663974505430063309.post-40650121027763147762008-01-09T15:22:00.000+07:002008-01-09T11:53:44.375+07:00Mortgage Loan Refinance [By Ahmad A Hassam]Mortgage loan refinance can be beneficial but you need to understand the terms of the deal and be very careful when choosing a bank. Refinancing can save you money only if you make an informed and educated decision. Most people want to refinance a mortgage loan to get interest rates low. But most end up paying more money long term than they should otherwise. Don't simply walk into a bank and sign a mortgage refinance with a low interest. It may not result in saving in the long term. Banks won't tell you every aspect of a refinance deal. In case you are ignorant, you might end up with a wrong deal that you may regret for a long time.<br /><br />Do You Need To Refinance?<br /><br />The first question you need to ask," Do I need to refinance?" People go for refinancing when they think that their interest rate are too high and that they have too much debt. Banks will give you information on possible course of action. They will leave it on you to make your final decision. Banks don't lie but they also don't tell you everything. It may withhold some information. Banks love to let customers make bad decisions. Some banks simply want profit at the expense of their customers. So be vigilant! First you need to do your homework. You can easily find many mortgage calculators online. Learn how to use one. Do a sensitivity analysis by changing the various variables. Discuss each possible course of action with your financial advisor.<br /><br />Don't Be Uninformed<br /><br />Be informed about all aspects of your financial situation before you walk into the bank. Banks like to take advantage of the uninformed. Some banks want their customers to be uninformed because the uninformed customer poses no threat and can be easily manipulated. An uninformed individual may accept the banks offer simply because the interest rates are lower. However, some banks try to give lower interest rates for refinancing but let the consumer end up paying more over the life time of the loan. Be careful, banks can expose you as a borrower to greater risks than you had with your previous mortgage with a higher risk loan.<br /><br />Understand The Agreement<br /><br />It is your duty to read the fine print of the refinance terms offered by the bank. Go through every line of the agreement . You might find something that you don't like and they will have to change it. Ask questions. All aspects of the new loan have to be made available to you. You as the customer just have to seek it. Most people simply look over the terms of a new loan briefly, only looking at the interest rate. They then sign on the dotted line. Banks won't tell you but it is always a good idea to understand the loan more intricately than even the bank itself. Don't simply skim the terms of a loan because in the end you cannot blame the bank for signing an agreement that had everything written into it.<br /><br />Get The Upper Hand<br /><br />Bank as your financial advisor is obligated to offer information but sometimes will provide it in a cursory manner. So ask them to explain if you don't understand. Knowledge is the single most important thing to have when refinancing. If you know what to watch out for when refinancing and what banks have to tell you, then you will have the upper hand. Having the upper hand will allow you to refinance your mortgage loan in a way that is best for you financially.<br /><br />More Articles On Mortgage Loan Refinance<br /><br />Mr. Ahmad Hassam has done Masters in Public Policy from John F. Kennedy School of Government, Harvard University. Visit his blog for more articles on mortgage, insurance, real estate, debt consolidation, credit, personal finance, internet marketing, dating, poker plus jokes at http://www.kaleidoscope3.com/myblog<br /><br />Article Source: http://EzineArticles.com/?expert=Ahmad_A_HassamUnknownnoreply@blogger.com1tag:blogger.com,1999:blog-7663974505430063309.post-60895690023185205402008-01-08T15:21:00.000+07:002008-01-09T11:53:24.648+07:00Save Money Through Home Mortgage Refinancing in Five Easy Steps [By Alan Lim]Home mortgage refinancing has been most sought after in the recent years. It is an easy way to get some cash while at the same time a great opportunity to reduce your monthly interest and monthly payment. So, how do you go about this? Well, here are five steps to get you started:<br />1. Find out whether getting home mortgage refinancing now is a good idea. You should only refinance at the right time for the right reasons. Your interest rate must be lowered by at least 2 or 3%. You should also consider factors such as the remaining balance of your existing mortgage, the number of years you still need to pay for it, your current credit record, your monthly payables, and the time you intend to stay in your home, and so on. Remember that to get the best deals, home refinance should be done at the right time and at the right circumstances. If not, you may end up paying more than you should have with your existing loan. For example, if you plan to move in a year or two, refinancing would be meaningless and can prove to be a waste of time, effort and money.<br />2. Use a mortgage calculator (readily available online) to help you decide quantitatively whether a deal is favorable enough. Compare the amount of money you need to pay for your existing loan with the new monthly payment terms you need to pay for refinancing. You should also include closing costs, points, escrow fees and other charges. Subtract the monthly payment you make on your current mortgage with that of the refinanced terms to get your monthly savings.<br />3. If the numbers and the circumstances appear very favorable to you, start looking through home mortgage refinancing options. It is very important that you choose your lender and the new mortgage terms. There are a lot of mortgage lenders available, each providing different set of terms, interest rates, fees and charges. What you want is a term that fits your financial objectives well. Choose whether you would like to refinance to a variable interest rate or to a fixed one depending on your needs. You should also determine how much you need to help you get the best deal.<br />4. Pay close attention to closing costs and fees. Fees differ greatly from one lender to another. If this is a factor for you, make sure you get some free home mortgage refinancing quotes from various lenders and choose accordingly. Note that some lenders impose more points with lower interest rates. Make sure you weigh things well before deciding.<br />5. Try to limit your new mortgage loan terms to not be longer than the terms left in your existing mortgage. You do not want to end up with lower payments but with twice as much longer term. When it adds up, you may end up paying more than you originally intended.<br />Home mortgage refinancing is an excellent way to cut down on your mortgage payments. However, you have to make sure that you choose the best deal given your financial circumstances.<br />Thinking about home refinancing but you just don't know where to start? Let the experts help you get the best deal by visiting <a id="link_83" href="http://www.homemortgageloan-refinance.com/" target="_new">Home Mortgage Refinancing</a> or <a id="link_84" href="http://www.homemortgagerefinancing-sg.blogspot.com/" target="_new">Home Mortgage Refinance</a> now.<br />Article Source: <a id="link_85" href="http://ezinearticles.com/?expert=Alan_Lim">http://EzineArticles.com/?expert=Alan_Lim</a>Unknownnoreply@blogger.com34tag:blogger.com,1999:blog-7663974505430063309.post-63087463656799422282008-01-07T15:20:00.000+07:002008-01-09T11:52:46.769+07:00Seeking Out Mortgage Advice [By Michael Sterios]Whether you are a first-time-buyer purchasing your first home or an existing home owner looking for a remortgage product, it is important to seek out expert mortgage advice to ensure you secure the right home loan for your personal circumstances.<br />Evolution of the UK Mortgage Market<br />The UK is often referred to as having the most sophisticated mortgage market in the world. A wide variety of products are now available from dozens of lenders where only a few lenders existed before.<br />Mortgages are now available to people with all kinds of credit histories and employment situations and are also available to purchase property for investment purposes. This situation is vastly different to several years ago when only a few lenders offered prime mortgage products to people with stable employment.<br />The UK home loan market has therefore evolved considerably in only a few short years and the need for expert advice has never been greater. Such advice on is no longer the sole domain of overbearing bank managers and because of this the financial intermediary industry has flourished.<br />Advice Providers<br />Because of the increased sophistication of the market it is wise to seek advice from either an independent broker or financial adviser when searching for your next home loan.<br />Independent brokers have specialist software that can scan the entire market in minutes, helping them to provide quality mortgage advice that will help you choose the right product for your individual circumstances. The right advice can help you save money over the term of the loan, whether it is for a buy-to-let property or your own home.<br />Likewise, independent financial advisers (IFAs) can sometimes provide advice on mortgages as well as ancillary finance products such as insurance and pensions. Often these products go hand in hand with home loans so it can be a good idea to receive advice from an IFA if you have one already.<br />If, for example, you are looking to purchase or remortgage a buy-to-let property your IFA may be able to provide you with advice on which products to apply for in addition to any investment advice they may provide to you.<br />If you are seeking a mortgage for your own home your IFA may be suitable for providing you advice on both your home loan and your home and contents insurance. You may also use the opportunity to receive advice on life assurance product or mortgage and income protection insurance.<br />Where to Seek Mortgage Advice<br />Finding a broker or IFA who can offer you mortgage advice has never been easier. There are thousands of registered brokers and IFAs in the UK, many of whom advertise on the internet and in the local press. There is also a wide range of online and offline directories which contain listings of mortgage brokers in most local areas. However, with the ease of communicating over long distances these days, it is not always necessary to receive advice from a local mortgage broker.<br />You may also seek out referrals from friends of relatives. Mortgage advisers and IFAs sometimes specialise in different fields of financial advice which means that not all advisers will be suited to providing you with information on the specific issues you are seeking advice on. A positive referral from a friend or relative may therefore save you the time and hassle of finding an adviser yourself and reduce the risk of inappropriate advice.<br />To get expert <a id="link_83" href="http://www.ukmortgagesource.co.uk/" target="_new">Mortgage Advice</a> on UK mortgages visit <a id="link_84" href="http://www.ukmortgagesource.co.uk/" target="_new">UK Mortgage Source</a> today<br />Article Source: <a id="link_85" href="http://ezinearticles.com/?expert=Michael_Sterios">http://EzineArticles.com/?expert=Michael_Sterios</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7663974505430063309.post-66065803415829033832007-12-24T15:19:00.000+07:002007-12-24T15:20:23.579+07:00The New Mortgage [By Jason Holter]Thanks to Federal Regulators there is once again good and bad news. The bad news is more paperwork and tougher standards when applying for and ultimately purchasing your home. Creating tightened guidelines for stated income and piggy back loans and stricter rules for option arms and interest only is meant to create security for the lenders.<br />Good news for home buyers? YES! Ever since the days of School House Rock we have known that "Knowledge is Power!" nothing has changed. If the borrower knows the rules, they can be prepared to meet the lending institution requirements and come out ahead or no worse for the wear.<br />Here are the basic steps to survive and flourish under the new "Rules"<br />1. Be prepared to have payroll stubs and or tax returns available. Instead of using stated income, using actual income will ensure that you get the right size payment and decrease the chances of default later on.<br />2. Keep your credit report up to date. Check for errors in information. If you find errors contact the reporting credit bureau in writing in order to get the error corrected.<br />3. Keep credit card payments current. Pay off your credit cards as often as possible in order to help lower your debt to income ration. This will aid you in getting a loan and improve your credit.<br />4. Once you have applied for a loan, it is important that you do not make any major purchases as it may stop your loan from being approved. Make all purchase after the closing and funding of the loan.<br />Although initially the new rules may seem insurmountable, the reality is preparation is the key. The new rules will stabilize the demand for real estate and slow the price increases on property. With real estate becoming more affordable, there will be less default and increased access for potential home buyers. Welcome Home!<br />Jason Holter is an experienced and ethical Mortgage Lender from the Houston area. Jason works closely with the most respected realtors. Jason is so confident about his services, he offers a "2 Day Doc Guarantee". He guarantees that if your closing documents aren't at the title company two days before you are scheduled to close, he will waive his origination fee. To date, he has not had to return the fee to anyone. Jason's website is <a id="link_79" href="http://www.yourclearlakemortgage.com/" target="_new">http://www.yourclearlakemortgage.com</a><br />Article Source: <a id="link_80" href="http://ezinearticles.com/?expert=Jason_Holter">http://EzineArticles.com/?expert=Jason_Holter</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7663974505430063309.post-49583731549960480432007-12-13T17:08:00.000+07:002007-12-24T15:19:04.653+07:00I Have No Credit Scores, Can I Get A Mortgage?[By Mike Clover]No Credit Scores, believe it or not it's very common. There are lots of people out there that don't have any credit. It is like a double edge sword, no credit could hurt you, but bad credit will definitely hurt you. Normally people that have no credit scores, fall into two categories.<br />1. Young and just starting out.2. I pay cash for everything.<br />Luckily there is hope for individuals that don't have credit scores and want to buy a home. There is a loan called FHA, which is a life saver for lots of happy homeowners. FHA is the single largest insurer of loans in the world. This particular loan is more lenient with banks, because it is insured by HUD. The qualifying process is less stringent. FHA does not require credit scores to get a mortgage. It offers an alternative in place of no scores. It will allow you to provide alternate lines of credit. Typically the underwriter will require 3 sources. The following would work.<br />1. Last 12 month payment history from any utility company.2. Day Care payment history for the last 12 months3. Letter from car insurance provider.4. Life insurance payment.<br />I have personally helped many families that had no credit scores get a mortgage. Here are some of the benefits of a FHA loan.<br />1. Low down payment2. No credit scores required3. Easy credit qualifying<br />FHA has been helping families since 1934, and its still is doing so. Even with all the changes going on in the mortgage industry, this particular loan is still the strongest provider of home ownership today. So if you don't have any credit scores, the answer is yes, you can get a mortgage. FHA typically requires 3% investment from the buyers, but it will allow you get a 3% gift from a blood relative or Bond money assistance from your local city. It will also allow the seller to pay 6% of your closing costs, so you can essentially get into a house with little or no money at all. Are you currently in a CH 13 bankruptcy? No problem, you can get a mortgage as long as you have been in the bankruptcy for a minimum of 12 months. The trustee is required to give written permission for you to purchase a home. There is no other loan program that has this type of guidelines. You can also get low interest rates with FHA, even though you have no scores, or low scores. I personally think its one of the best loans to help low income families into a mortgage. Do you have medical collections; well FHA does not require you to pay of medical collections, even recent ones. So I think you get the idea, it's a great loan for all types of situations.<br />About the Author: Mike Clover is the owner of <a id="link_79" href="http://www.my720fico.com/" target="_new">http://www.my720fico.com/</a>. <a id="link_80" href="http://my720fico.com/" target="_new">My720fico.com</a> is one of the most unique on-line resources for free credit score reports, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.<br />Article Source: <a id="link_81" href="http://ezinearticles.com/?expert=Mike_Clover">http://EzineArticles.com/?expert=Mike_Clover</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7663974505430063309.post-37571570936699991432007-12-12T17:07:00.000+07:002007-12-24T15:18:48.949+07:00How To Do A Successful Mortgage Short Sale - Sell Your House In 9 Days With No Fix-Up[By Richard Geller]Do you owe more than your house is worth?<br />Or are you unable to make your mortgage payments?<br />Mortgage costs including taxes and insurance should be no more than 40% of your take-home income, at worst. Many people are paying more than this.<br />Your mortgage payments may feel like a crushing burden and you probably don't know where to turn for help.<br />It turns out that a short sale may be the answer for you.<br />I want to focus on doing a short sale -- that lets you sell your house, get out from under your mortgage without paying in any cash, and get out from under even if you owe more than your house is worth.<br />Because let's look at your choices.<br />Choice #1: If you sell your house and you owe more than it is worth, you can pay your own money to make up the loss.<br />For example, if the buyer pays $180,000 because that is all you can get as far as an offer, and your mortgage is for $250,000, you have to pay in $70,000 cash at closing or else the deal will fall through.<br />Do you have that kind of cash? Many people do not have that money. And I don't suggest you raid your 401(k) either.<br />So the only other option that is the least bit appealing is a mortgage short sale.<br />A short sale involves mortgage lender cooperation. Your mortgage company must agree to accept the buyer's full proceeds as payment in full for your mortgage. The home loan lender lets you out of your mortgage and allows the new buyer to step in and buy your house.<br />You are out of the picture and you didn't put any cash in.<br />The mortgage company may still decide to come after you later, to pay them for their financial loss. Each state's laws are different but often they have two to four years to file a complaint in court and sue you for their financial losses.<br />You can negotiate this, sometimes, during the short sale process. They will agree not to go after you, in writing.<br />The mortgage lender may also report you as a deadbeat to the credit agencies. Or not. You can negotiate this too, sometimes, during the short sale.<br />The key element though is that by doing a short sale, you are helping your mortgage lender get out of a big problem. And that gives you room to negotiate more than you thought possible.<br />You see, their problem is having a non-performing mortgage loan and they do not want your house back either.<br />Your problem is their problem.<br />So you can make things a lot better if you will sell your house and get the lender to accept the short sale. The lender loses money.<br />But not nearly as much money as they lose if they get your house back.<br />Getting your house back could cost the mortgage company tens of thousands of dollars.<br />Banks are not that great at holding on to your house. They have to pay for fixing it up because they can't sell a house in any condition. And they have to hold onto it while it sits on the market. Lenders typically only recover $0.68 per $1 of value on a foreclosure house if they take it back.<br />So why not do a short sale instead?<br />I have learned of the system that lets you sell your house in nine days, with no fix-up, in any market. Because it is a short sale, the lender expects to get clobbered. So they will let you sell your house for 75% - 85% of market value. That means that you can sell your house while your neighbors probably can't because they feel they must get a higher price than you need to get.<br />The market value of your house is the real market value today, not the one six months or twelve months ago. A short sale can be done substantially below this real market value. And that means that it is a good deal for the buyer. And good deals are the only deals that are happening today.<br />Remember, in a short sale, you aren't getting any of the proceeds yourself. All proceeds after closing costs go straight to your mortgage company. You won't see a dime of it.<br />So that means that all you care about is exposing your house to the market and letting the market decide what your house is worth.<br />As long as you can demonstrate to the lender that the buyer is paying a fair price today (a price that can be substantially below market value), you can get the lender to say "yes" to a short sale.<br />And that means you can get out from under your debt and move on with your life. You can even buy another house with little or no money down, no qualifying, and bad credit.<br />And learn more about <a id="link_91" href="http://www.mortgagereliefformula.com/11/18/short-sales-do-you-owe-more-than-your-home-is-worth/" target="_new">short sales do you owe more than your home is worth</a> and <a id="link_92" href="http://www.mortgagereliefformula.com/12/01/short-sale-how-to-sell-your-house-in-nine-days-when-there-are-no-buyers/" target="_new">how to short sale your house in nine days even when there are no buyers</a>, by author Richard Geller who has developed the Mortgage Relief Formula home study course.<br />Article Source: <a id="link_93" href="http://ezinearticles.com/?expert=Richard_Geller">http://EzineArticles.com/?expert=Richard_Geller</a>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-7663974505430063309.post-6898683698813893102007-12-11T17:06:00.000+07:002007-12-24T15:18:06.783+07:00The Basics of Tracker Mortgages[By Michael Sterios]There are several different types of methods for interest to be charged on mortgages. Tracker mortgages have a variable interest rate that moves roughly in line with the Bank of England Base Rate (BoEBR).<br />Another popular type of interest rate is a fixed rate which does not move in line with the base rate.<br />The interest rates on tracker rate mortgages are quoted as a fixed percentage above the base rate and will normally exist for a short period, although it can be attached to the tracker rate mortgage for its entire term.<br />Once the tracker period expires the interest rate will convert to the lender's Standard Variable Rate (SVR). A typical example would be tracker rate mortgages that are quotes as having an interest rate of BoEBR+2% for three years.<br />The BoEBR is set by the Bank of England Monetary Policy Committee (MPC) each month. The MPC will evaluate a range of economic indicators to decide whether a change in the base rate is necessary to meet the Government's inflationary policies.<br />Because the interest rates attached to tracker mortgages are attached to the BoEBR, any movement will affect borrowers' monthly repayments. Upward movements in the BoEBR are usually passed onto borrowers within a few days and downward movements within a month.<br />Tracker rate mortgages therefore come with an inbuilt risk factor that borrowers must assess carefully. If a borrower cannot afford to continue making payments on tracker rate mortgages if the interest rate increases significantly over time, they may need to reconsider applying for this type of mortgage product.<br />Borrowers who do not want to be exposed to such fluctuations should consider applying for fixed rate mortgages instead of tracker rate mortgages. Fixed rate mortgage have interest rates that do not move each time the base rate is increased or decreased and therefore offer the borrower security.<br />However, if the base rate falls, borrowers of fixed rate mortgages will not be able to take advantage of the cheaper cost of borrowing. The interest rates on tracker rate mortgages will decline and borrowers of this type of product will subsequently save money.<br />If you are unsure whether tracker rate mortgages are right for you, contact an independent mortgage adviser for expert and impartial advice.<br />Visit <a id="link_79" href="http://www.ukmortgagesource.co.uk/" target="_new">UK Mortgage Source</a> for up-to-date information on <a id="link_80" href="http://www.ukmortgagesource.co.uk/" target="_new">UK Mortgages</a><br />Article Source: <a id="link_81" href="http://ezinearticles.com/?expert=Michael_Sterios">http://EzineArticles.com/?expert=Michael_Sterios</a><br /><div></div>Unknownnoreply@blogger.com21