Rates May Be Rising: Mortgage And Refinancing Preparation Made Simple For You
November 21, 2007
Buying a home is probably the single largest investment most people make in a lifetime. By preparing yourself and your credit before a home purchase or refinance, you can ensure a smooth finance process and can potentially save thousands on your loan. Improve your financial profile now so you can take advantage of the low interest rates before they disappear.
Start by checking your credit
- To get the best possible mortgage rate, make sure your credit history is healthy and accurate. Aim to raise your credit score above 650 in order to qualify for most prime loans.
- If your credit score is not quite 650, focus your efforts on paying bills on time, reducing your debt balances, avoiding new inquiries and clearing negative inaccuracies from your credit report.
- Make sure the information on your report is correct and fix any problems you discover. Give yourself 30-90 days for correcting inaccuracies. You can learn more online in the Credit Learning Center http://www.legalhelper.ws/credit-reports-online.aspx.
- Found an error while reviewing your credit with the lender? Ask about the “rapid rescoring” process where you can submit a dispute and potentially improve your credit in 72 hours.
Figure out how much you can afford
SuperCharged Secret 4, Credit Card Utopia
November 21, 2007
YOU SCRATCH MY BACK, AND I’LL BUY SOME MORE BEER!
Let’s just take a brief moment to recap:
If you’ve been following along on this journey with me, learning the 5 Super-Charged secrets to Credit Card Utopia, then you now know 3 very important things:
With me? Good. These are all essential foundations that you need to follow in order to live in Credit-Card Utopia with me.
In fact, you would think that there’s not much more that can be done.
Side note: I hope you are realizing the power of this information.
It may seem simple, but are you doing it? No. So, be smart. Study this information, reflect on these insights, and move forward with them so you can truly benefit from this secret knowledge.
What Is A Personal Loan?
November 20, 2007
Personal loans can be divided into two categories: secured personal loans and unsecured personal loans. Homeowners can apply for a Secured personal loan (using their property as security), whereas tenants only have the option of an unsecured personal loan. Below is a more detailed outline of both types of loans:
Secured Personal Loan:
A Secured personal loan is simply a loan that is secured against property. Secured personal loans are suitable for when you are trying to raise a large amount; are having difficulty getting an unsecured personal loan; or, have a poor credit history. Lenders can be more flexible when it comes to Secured personal loans, making a Secured personal loan possible when you may have been turned down for an unsecured personal loan. Secured personal loans are also worth considering if you need a new car, or need to make home improvements, or take that luxury holiday of a lifetime.
Benefits of Secured personal loans include:
Lower monthly repayments than unsecured personal loans
The ability to borrow more money
Spread repayments over a longer period of time More detailed information??
How Much Interest is Your Home Equity Earning?
November 19, 2007
How much interest are you earning on your home equity? If you answered nothing, zero, zilch, zip you are correct. What would you do if you could get triple compounding on your equity? Would you take action and build a fortune that would allow you to pay off the mortgage and create a retirement fund?
We use a strategy called Early Mortgage Pay Off System or EMPOS?. The strategy involves using common knowledge that is applied uncommonly. In other words, we have been told for years that a fixed mortgage is the way to the American Dream of having our homes paid off free and clear. But is that really a dream, when all along the way you struggle to make those large payments? What if you could reduce your monthly mortgage payments and increase your cash flow?
By using the right mortgage product you can keep your monthly payments low and redirect some of that cash back to yourself in an investment that gets triple compounding because it is tax deferred.
SuperCharged Secret 5, Credit Card Utopia
November 18, 2007
LIVING IN CREDIT CARD UTOPIA
Let’s just take a brief moment to recap:
If you’ve been following along on this journey with me, learning the 5 Super-Charged secrets to Credit Card Utopia, then you now know 4 very important things:
With me? Good. These are all essential foundations that you need to follow in order to live in Credit-Card Utopia with me.
And NOW?On to the FINAL, most important, MOST significant secret that I have to reveal?
Secret # 5 revealed: Living in Credit Card Utopia:
How To Get Rid Of Debt Problems Step 2 — How To Prepare A Financial Statement
November 17, 2007
Here is how to prepare a financial statement, for the purpose of negotiating reduced payments with your creditors.
Secured/Unsecured debts. Before we get into the substance of this, let’s ensure we are clear about the significance of secured debts.
If the debt is secured, there is a risk that the item upon which the debt is secured could be re-possessed, if payments are not maintained. One of the most common forms of secured debt is the mortgage — which also typically represents a very large debt and therefore a potentially very large problem.
There are two important points to note concerning secured/unsecured debts and attempting to reduce payments.
1. any creditor who is owed a secured debt has no reason to accept reduced payment. The creditor, in nearly all cases, would rather re-possess the item upon which the debt is secured
2. The borrower must be aware that, in the case of a secured debt, any change in the agreed payments carries a risk that the item upon which the debt is secured could be re-possessed, unless the creditor agrees in advance to accept the change. Thus, in most cases, it is only unsecured debts which offer the chance of a potential reduction in payments.
A Guide to Selecting a Mortgage Broker in Australia
November 16, 2007
Once you have made the decision to buy a home you will need to obtain mortgage financing for your purchase. Until about fifteen years ago buyers had to go directly to banks to obtain loans and shopping around for the right fit was a long process. Mortgage Brokers are experts in home loans who will consider your financial situation and financing requirements and then shop around for various lenders to find the best possible deal on financing for your purchase.
Because mortgage brokers understand the loan process and the criteria used by lending institutions in evaluating borrowers they are able to make sure your loan application is completed correctly the first time resulting in a much smoother process. This can ultimately lead to faster approval. In addition they have access to hundreds of loan products with many different lenders resulting in the flexibility to find the best possible loan and interest rates for your situation.
It is no wonder mortgage brokers now write about 30% of all mortgages in Australia. Your mortgage broker will not only find you the best rates and programs based on your needs, they will also help you understand the process, and if necessary negotiate on your behalf if you have less than perfect credit.
What Are The Benefits and Consequences Of Getting Rid Of Debt The Easy Way
November 16, 2007
We have all experienced getting so far in debt we don’t know how we’re going to get out. There are many different options that you have for quick relief with benefits and consequences. You can look at the overview and see which option is the best option for you.
Consolidation
1. Benefits
- Lower monthly payments
- No worry of paying multiple debt collectors every month, pay only one agency
- Percentage of debt charged by consolidation company
- Costs for Loan
- Cost for counseling or negotiation
2. Negatives
- Appears on your credit like bankruptcy
- Requires you to get another loan
- If you own a home loan will be tied to your equity
- Takes between 5 and 10 years to pay off the loan
- First few years no big change in debt reduction
- Does not always prevent creditors from future legal collection action
Bankruptcy
1. Benefits
- Costs between $700-$3000
2. Negatives
- On credit report for ten years
- Finances made public record
- No assets are allowed with Chapter7
- Creditors can file adversarial hearing that costs $3000
- Credit severely damaged
Debt Relief Program
1. Benefits
- Payments can stop as soon as the program starts
- Credit Repair available after a short time
- Good credit repair options available
3. Negatives
Auto Loan Buying Tips
November 15, 2007
Have you ever felt like you bought an auto and financed it and don’t really know if you got the right price or financing arrangements after it was all over? Well, don’t feel alone. This is a common experience for many people who make auto purchases.
Guidelines for negotiating the car price can be found elsewhere, but we want to share some helpful tips on getting that vehicle financed at the best rates and terms for you.
The first step is to make sure that you negotiate the car’s price separate from the vehicle financing arrangements. Most dealers want to lump it all together because they can hide quite a bit of the actual price of the vehicle in the loan contract, and they will usually just try to meet a monthly payment figure that you can live with rather than disclose all the details about the loan.
So your work actually should begin before you ever visit the dealer lot. Try to determine beforehand what vehicle(s) you are interested in buying and become familiar with the average cost for that vehicle, either online or locally. Then make sure that it will fit your budget. Most financial experts recommend that you shouldn’t spend more than 10% of your monthly income on vehicle costs, including the loan, gas, repairs, insurance, etc.
5 Killer Steps to avoid Credit Card SCAMS!
November 14, 2007
In August, 2004, the Federal Trade Commission issued their findings of a recent study, which showed that nearly 25 million adults were victims of fraud.
Now, most importantly, If you are a victim of fraud, please do not feel like you did anything wrong. It happens to all of us at one point or another, as the FTC’s study clearly shows. Everyone likes a magic trick, and none of us are fully capable of noticing the con-artists’ slight of hand. So, if you’re a victim, take a deep breath. You’re normal.
But, there’s an old saying that goes something like this: Fool me once, shame on you?Fool me twice, shame on me!"
Here are 5 KILLER STEPS to protect yourself from Credit Card SCAMS!
1. NATIONAL NO-CALL REGISTRY:
There’s nothing more annoying then those credit card offers that you get over the phone. I don’t know about you, but the last thing I want to be doing, while having dinner with my 1 year old daughter and my beautiful wife, is to be annoyed by phone calls from solicitors that just want to make money off me. Legitimate or not, these calls are a nuisance. If you’re like me, and you would rather live without dealing with these calls, then go do this:
