Archived posts from this Category
Archived posts from this Category
The benefits of having a high credit score are endless. The easiest way to see the enormous benefit is by looking at what happens when you have BAD credit. Here’s a classic scenario.
Example of Buying a $300,000 Home
Right now interest rates are extremely low. If you have ‘A’ credit, you can expect to get a 30-year fixed mortgage at 3.75 percent (As of 9-12-2012). That would mean that you can expect to make a monthly payment of $1389.35 and pay a total of $500,166 over the 30 year term.
On the other hand, if your credit score isn’t that great, you could end up paying 1.5 percent more interest over the same term and that would take you to 5.25 percent.
At 5.25 percent, you will end up with a payment of $1656.61 per month. Over the 30 year term of the loan, you would end up paying $596,379.60, an increase of $96,000.
Let’s make a long story short; having bad credit is a terrible idea.
Before you take out any loan, you should be doing everything in your power to improve your credit score as much as possible. If you do, you will save yourself a ton of interest over your lifetime.
The Fastest Ways To Improve Your Credit
1. Pay Down Your Revolving Credit
A full 30 percent of your credit score is calculated by comparing your revolving debt (basically credit card debt) to your available credit. So, if you have credit card limits of $1,000 and you owe $900 on them, it’s KILLING your credit.
You have to commit now to getting that turned around. Do whatever is necessary to pay off that debt. Sell things if you have to because it will be worth it. Is it worth selling a car or furniture to save yourself $96,000 in interest? Let me answer that for you – yes it is!
2. Increase Your Credit Limits Without Increasing Debt
Another sneaky tactic that can really help out is to get credit line increases. If you owe $900 when your available credit is $1000, it kills you. If you owe $900 and your available credit is $10,000 or even $5,000, it doesn’t hurt you that much. It’s the ratio that matters.
When your credit limit is only $1,000 in this example, you’re using 90 percent of it. If your credit limit is $5,000, you would be using less than 20 percent of it. Again, it’s the ratio that matters.
Increasing your credit lines is a somewhat involved process, but it doesn’t have to take that long. Most of the time, you can simply request an increase. Often, you can do this online – in your online card account. In some situations, they will prompt you to call to talk to a representative. Other times, you will get approved instantly. I would recommend trying to raise the limits on all of your cards. The higher they are, the better your credit score will be (if you have a balance).
If you would like to learn more, you can visit the 650 credit score blog. It will help you to learn to improve even further.
Pitfalls and Traps
The biggest problem you can run into when increasing your credit limits is that you will spend more. It’s easy to say that you won’t but let’s be honest. If you find yourself in a situation where you’ve spent $900 out of a possible $1000, you don’t have a good track record. It isn’t going to get any easier to not spend.
You have to commit to change! Stop spending money that you don’t have.
How Quickly Will My Credit Score Change?
When you change the amounts of debt or available credit you have, your score will update as soon as those changes are reported to the credit bureaus. This process will happen within 30 days!
There are a lot of reasons to want to do a loan modification in today’s environment. For one, a lot of people have loan payments that are completely out of control. That said, you shouldn’t agree with those who say that you don’t have anything to lose when trying for a loan mod – there is a cost involved and because of that, there is a huge scam industry currently operating around loan modifications. There are of course many legit people operating in this space, but they are overshadowed by the scammers.
The US Government in the last four years has released a $700 billion bailout scheme, designed to reduce homeowner debt to creditors by virtue of loan modification and refinances. This has helped in a lot of situations but honestly, it helps you the most if you’ve never made a late payment on your loan (more on this later in the article). There are programs specifically for you and honestly, those are the best options. If you can’t qualify for them, you should look at loan modification.
Do You Need Good Credit For Loan Modification?
Loan modification is not partial to your credit score in any way. In fact if you have bad credit and are suffering due to high monthly payments into a mortgage facility when you house value has been reduced, then you are welcomed to apply for loan modification. It doesn’t mean you’ll get approved, but you’re welcome to apply.
In all honesty, however, loan modifications aren’t going through at the rate they once were. People are having a difficult time getting approved.
Refinancing Is A Better Option
I know that it’s impossible for many people to refinance, but honestly it’s the best option. If you can’t qualify right now for a refinance, I’d highly recommend taking a look at improving your current situation.
Increase your credit score, fight hard to save as much money as possible to cover the equity gap on your loan. I’m not going to go into improving your score in detail here, but here are the basics:
You’d be surprised how much of a difference you can make in a short period of time by focusing on improvement.
The HARP Program
Last year, the federal government came out with a program called HARP that is helping a LOT of people to refinance their homes. HARP stands for home affordable refinance program. It basically states that if you have never made a late payment on your mortgage but are struggling to make ends meet, you can qualify for a refinance. They ask very few questions if you are in this situation. Fortunately, you can be approved even if your mortgage is way underwater. It’s honestly a really great deal.
The HARP program doesn’t reduce the total amount that you owe on your home, but it does allow you to get a much better interest rate, since rates are very low right now. On top of that, the program allows you get rid of bad loans. Many people are using them to get rid of ARM loans and bubble loans that in all likelihood, would eventually cause them to lose their homes. It’s a beautiful program if you find yourself in that situation.
Talk to your mortgage broker if you are wondering if you can qualify for the program. Again, if you haven’t made a late payment on your mortgage, chances are high that you will qualify.
The desire to complete the home buying process quickly is a desire that is shared by many first time home buyers. The idea of finally accomplishing the goal of owning their very own piece of real estate Newburyport is simply so overwhelming that people fear the worst. These people tend to think that if they do not hurry up and close the deal, something will come along and stop their dream in its tracks. The truth is however, that it is this mentality that often causes people to make mistakes when choosing real estate Newburyport. This is just one of the reasons that it is so important to take your time when buying real estate Newburyport.
Another reason why patience is key when purchasing real estate is that this patience will allow you to secure the best financing rates possible. This is very similar to the phenomenon which occurs with student credit cards. Young students receive credit card offers in the mail, and since they have never had a credit card in the past, they jump on the new opportunity. As we get older, we often learn that these student credit cards offered the absolute worst interest rates and benefits of all the available cards. Since students often act out of impulse rather than thoroughly researching the credit opportunity first, they tend to get the worst available offers. This same phenomenon occurs with first time home buyers. Financial institutions know that these first time home buyers are anxious to purchase their first house. Receiving an approval of any kind is often enough to get these individuals to sign a contract. Unfortunately, this behavior can result in you paying far more than you have to for your home.
Taking the time to research all financial revenue sources will allow you to determine who is truly offering you the best deal. The process of purchasing real estate Newburyport can take several weeks, several months, or even several years depending upon what type of property you are looking for. While I can certainly understand why you may be tempted to try and speed up this process, you must remember that remaining patient is always in your best interest. The house you are purchasing is much more than just a house, this house should present the opportunity to become a forever home for you and your family. Remember that a home is much more than just four walls. A home will provide you with the security and comfort that you need in order to spend your life happily and relaxed.
Choosing a house that does not present these benefits simply because it is available for immediate sale may leave you with a ton of regrets in the near future. Assuming that you do not want to repeat the process of buying real estate Newburyport in the next few months, taking the time to ensure you are choosing the right home the first time around is always in your best interest. Finally, people who may wish to scam you out of your hard earned money or sell you a piece of real estate which is not in prime condition often prey on people who are interested in making a fast transaction. This is because, having the proper inspections done to ensure a home is stable both inside and out takes time.
When you attempt to rush through a real estate transaction, you will not have the necessary time to complete these inspections. This will leave you vulnerable to both poor decisions, and possible scam artists. Always take the time to have all your properties properly inspected prior to finalizing your purchase in order to avoid these catastrophic situations.
There are several times that a good family lawyer must be retained. From the beginning of a family, with a prenuptial agreement or adoption to the tragic end of an intact family with divorce, a family lawyer can meet your needs and help navigate you through the messiness which is inherent with family law. While the idea of a prenuptial agreement is distasteful for most soon to be married couples, there are valid reasons to have one drafted. If either party has been married before and has children from that relationship, it makes solid sense to have a prenuptial agreement in order to divide assets and property in the event of divorce or death. This makes the unwanted and unthinkable manageable and can actually cut down on family tension. Another reason to have a prenuptial agreement is if either or both spouses are owners or co-owners of a business. The prenuptial spells out what would happen to these assets in the event of the marriage ending or death.
In addition, if one spouse to be has significantly more money than the other or will likely inherit a large sum, a prenuptial can divide that property fairly. A good family lawyer can help a couple determine if they need a prenuptial agreement, what should be covered in the agreement and how to ensure that it is prepared legally and would be accepted in a court of law. A properly written agreement can help a couple avoid litigation if they divorce and assist in post mortem issues when one spouse dies. One assignment that a family lawyer loves to receive is that of an adoption petition. When we adopted our daughter, we entered a family law firm and the tension of divorce and arguing couples and attorneys was thick in the air. We entered the office with a tiny infant and the atmosphere changed. Our family lawyer told us that he loved adoptions because it gave him a great amount of satisfaction to build families rather than to fight with another attorney about who gets to keep the toaster.
Adoption laws are also complicated and vary from state to state. We learned this when we adopted our daughter from a different state and needed to ensure that we met all the requirements from both her birth state and our home state. Without the guidance of our family lawyer, we would have been lost in the process and not known how to manage the paperwork and regulations that were flung our direction at every turn. Finally, sometimes relationships just are not meant to last.
There may have been abuse, infidelity, addictions or other irreconcilable differences that make divorce the best option for a family. A family lawyer can both represent both parties and act as a mediator, making the divorce process less contentious and less expensive. By collaborating and mediating through a divorce, couples can have a more positive outlook and be happier with the end results. If the traditional courtroom battle occurs, both parties will have a lawyer, the cost will be several times higher, and the outcome will likely be something that both parties will be upset about since the court system will be making decisions which affect the family for years to come.
No matter the need that you have for a family attorney, getting the best one possible will benefit you and your family for years to come. To ensure that you have the family attorney who best fits your needs, interview several, ask questions, especially about their experience and how they represent clients. Will the attorney represent you in a way that you find to be comfortable? Ask about their courtroom philosophy. This gives you an idea of how they think and what to expect in the event of a hearing.
A Brampton bankruptcy trustee is a person who is hired to distribute assets and funds to creditors from the debtor. He or she is a non-partial participant who is hired to carry out certain tasks. A Brampton bankruptcy trustee may be a lawyer who is educated in bankruptcy laws and who can carry out the duties efficiently. Since there are different types of bankruptcies, the trustee needs to be aware of the various codes. He may have meetings with creditors to go over what is owed to them by the debtor.
Normally when a person files for bankruptcy they have many creditors that they owe money to. They could have several credit cards, a car loan, and a personal loan that they want to get out from under. In this case there are several creditors who are wanting to be able to get something out of the debtor without being left with nothing. Each creditor will be clamoring for a piece of the pie so to speak. When a debtor files for bankruptcy his assets may be seized and divided up among the creditors. If a person has a car loan, the bank that gave the loan may want to seize the car so they may sell it to recoup some of their losses. Normally assets such as electronics, furniture and jewelry that were purchased using credit cards or loans will be seized and sold. Even a certain amount of money may be taken from the debtor to compensate the creditors.
A Brampton bankruptcy trustee is in charge of seizing the assets, and then selling items in order to compensate the creditors. A bankruptcy trustee may also be in charge during a bankruptcy reorganization plan for a corporation. When a corporation files for bankruptcy it is usually to give them a chance to reorganize their debts to creditors. The reorganization plan might be overseen by a bankruptcy trustee to ensure the plan is feasible, and that the company is abiding by it. The trustee may also help the company with the reorganization plan by going over the plan with the company and offering suggestions.
Since there are different types of bankruptcy codes the trustee has to be aware of the various laws governing bankruptcy. In some cases the trustee may be a lawyer, or he or she is appointed by a court of law. It may depend if the case is for an individual or a corporation as to what type of trustee is placed on a case. A trustee is normally paid a fee from the creditors. This fee may come from what is collected from the debtor or a flat fee from the court. A bankruptcy trustee does not make court appointed decisions as only the judge can make those. He will carry out the orders of the judge and whatever the judge decides the debtor should relinquish to the creditors.
Once the judge makes his decision, the trustee is ready to carry out the orders. If a large estate is being liquidated, the trustee may hold an estate sale or auction to liquidate the items in order to repay the creditors with cash. Most creditors will not want furniture, antiques or jewelry, preferring to be paid back with money instead of items. The bankruptcy trustee is in charge of the sale of goods, and then making sure the creditors are paid. Likewise the trustee may also ensure the creditors do not harass the debtor during the bankruptcy process and the seizing of items to be sold. A bankruptcy trustee is like a referee that works for both sides.
If you want to make better investment decisions in 2012 and 2013, then the popular Barron’s Magazine could be the perfect choice for you if you need investment and stock trading advice. The magazine was first established nearly one hundred years ago and now is one of the most trusted publications when it comes to analyzing the stock market. In fact, you will be hard pressed to find any Wall Street trader who has not used this magazine at some point in their career – although it can be read by people who are new to stocks and shares, as the insight within the magazine is simple to digest in a digestible format.
Get Ahead in the Stock Market with a Barron’s Discount
If you want to get a head start on the stock market then you should seriously consider subscribing to this magazine, and should also take advantage of a Barrons Discount – and they are a number on offer at the moment – but what about the actual content and benefits to subscribing? Read on for more information on the Barron’s Discount and what is included within this superb financial magazine.
Contains Stock Tables and Expert Insight
Without doubt, one of the best aspects to the Barron’s Magazine is the amount of useful investment leads that it contains. As an investor it won’t make any promises, however, there are many online reviews of Barron’s where customers have stated they their stock portfolio has significantly increased as a result of taking the advice set out within the pages. The most useful section for people wanting to invest their money better, is the Market Week section. Within this pull out part you will find current investment prices and stock tables as well as indicators on how specific industries are currently performing.
Keep Up to Date with New Companies
In addition to that, there is also the valuable Technology Week section. This includes in-depth analysis and expert columns on what the up and coming technologies companies are going to be, so you can get a head start on which ones are going to be best to invest in. Barron’s Magazine actually exercised caution to its readers on the recent Facebook flotation, which now seems to be very valuable advice given what we now know about the over promises that were written up and spoken about on Wall Street.
You will also find another section titled Mutual Funds, which should not need too much explanation. The Wrap section comes with guest interviews and columns from stock market analysts who offer their own personal view on prices, commodities, shares, stocks, and market conditions.
In terms of other content, readers tend to love the fact that Barron’s Magazine is not packed full of adverts, unlike rival publications. When the magazine does include advertising, it is typically contextual to the content. So for example, on the stock tables pull out you will see an advert for online brokerage accounts – and the ads tend to be discreet rather than ugly full page spaces which can be off putting – simply put, this is another reason for signing up for the latest Barron’s Discounts that are on offer.
Subscribe to Print, Online – or Both
In terms of the different subscription models, it’s possible to either subscribe to the pure print version of Barron’s or just the online access. The Barrons.com online portal is updated on a daily basis – but a lot of readers actually sign up to both as this is where the best savings can be made.
Read a Barron’s Magazine Review for More Info
Should you wish to know more, then it’s worth checking out this recent Barron’s Magazine Review that was posted on the Wall Street Subscriptions website. It goes into a lot more detail and might persuade you that this investment magazine will suit you.
Infinite banking is the process by which you use a life insurance policy as a personal banking system. While the process is fairly complicated, the fact of the matter is that you can use your life insurance policy in order to cover a lot of things, and even act as a growing investment.
Essentially, infinite banking is all about putting your funds into your own life insurance policy, and then working with the growth. These policies also have provisions built into them where they can cover expenses.
Therefore, it is well worth the effort. Going with infinite banking allows the individual to take control of their finances and to get better payouts form them.
The first perk involved with infinite banking is the fact that a life insurance policy (structures the right way) acts as an investment. Since these policies are generally protected from the rises and falls of the market and have a guaranteed rate of growth, they are a great and safe investment to make.
Growth will be steady, and the protection in place make these funds inherently safer than some of the others found on the market. So, infinite banking represents a positive cycle where you are able to keep growing your investment.
People also have the option to pay directly into the fund with their paychecks. Again, it is all about growing the fund and letting the market keep it viable and growing at an appreciable ratio.
In order to get money from the fun, you withdraw “shares” form it rather than using a bank. It is safe to say that with infinite banking, the growth of the fund on the market is more appreciable than the interest paid by banks for using your money for essentially the same purpose.
Perhaps that is one of the best ways overall to describe infinite banking. It is also about the individual and their family, rather than the bank using the money of their customers to instill growth on the market.
As noted, infinite banking also can cover the day to day expenses of life. Many people do not realize this, but life insurance polices have many benefits which can be paid while you are still alive, allowing you a greater amount of versatility and viability overall.
Things like doctors’ visits, school prescriptions, and even cost of living things like groceries and gas all have the potential to be covered by this plan. As such, it is well worth investigating in further detail.
Being able to have control of finances and of life is going to allow people a great amount of freedom and versatility when it comes to their lives. Life insurance is already a vital and useful thing to have- this process imply amplifies the benefits of it in order to allow people to have a greater quality of life overall.
As an investment, it is a good solid conservative one to stand on while working with the rest of the factors which need to be taken care of. Try it, and notice improvements soon!
It is indeed true that the Gold market reached a significant mark in the past couple of years. This has led many analysts to believe that the market is set to achieve even greater heights in the next years to come. The rise in activity in the gold market is the main reason why people have sought to sell their used gold. This has happened in light of the fact that there are a lot of people who have products like gold jewelery and coins which they do not really use.
If you are looking to sell used gold, then you are probably going to need some knowledge on how to go about the whole thing. Indeed you may make some money by having a garage sale but that may not always be the best value you get for your gold. The following points will help you get the best value for the used gold products that you have.
Calculating Market Value
If you wish to sell used gold at a price that is good, then you must have some idea on just how to calculate the market value. The first step for you to take is ascertaining the actual amount of gold in your product. This is usually done by this equation: 24karat= 100% gold. Once you know that, you can then take the value of your gold and divide it by 24 which will then give you the total percentage of your gold. You should then weigh your gold product and multiply by the percentage in decimals in order to know the overall weight in grams. Convert the result into ounces and then check for the official price.
Getting the Maximum Value
It is always important for you to keep up to date with the latest gold prices because the markets tend to change from time to time. By adjusting your prices accordingly, you will be able to easily attract potential buyers within a very short period of time. Having knowledge on the existing gold prices is also a plus because it will help you avoid selling at very low prices.
Selling Face to Face Vs Online
Selling your gold on a face to face basis may be the best thing to do because chances of getting cheated are reduced and the safety of your transaction is assured. However it is important to note that most gold buyers tend to deal online. This being the fact, it is important for you to carry out a thorough research before dealing with anyone. Online buyers are not always genuine and that is why you must have guarantees before you put the product in the mail.
Make sure that whoever you deal with has a past record that is reputable and that he or she has a way of guaranteeing payment for your product. These are basically some of the most important things that you need to know if you wish to make the most out of your used gold products.
Matt blogs for Dakota Financial who specialize in providing info on gold buyers Oklahoma City residents can trust for their info. Matt blogs on selling gold and buying gold to and from pawn shops.
The recent collapse in the real estate market and the rise in unemployment rates has turned purchasing a home into an intimidating experience. To alleviate some of the concerns of buying a home, many potential buyers are considering rent-to-own options.
A rent-to-own contract will set the purchase price of the real estate at the beginning of the contract, but the renter does not actually purchase the house for a number of years. By fixing the cost of sale early on, the renter is able to see whether the value of the property rises or sinks before making a decision on whether or not to purchase the property. If the value decreases, a reasonable risk in today’s shaky market, the renter has no obligation to purchase the property. If the value increases, the cost does not increase to the buyer.
Renting to own can be a way to work towards buying a house for people who do not have the means to make a purchase immediately. A portion of the renter’s monthly payments are going to the purchase of the property; the renter is essentially building a down payment with every monthly rent payment. The renter is also buying time to build their credit.
While there are many benefits to a rent to own contract, renters need to be very cautious in reviewing the language of the contract. Some rent to own contracts will be voided if the renter makes late payments, or the late payment will not count towards the purchase of the house. Many contracts will require renters to handle certain repairs, or in some cases renters will voluntarily make improvements to the house. But renters need to remember that if for any reason the purchase does not go through, they will most likely loose any money that they put into the house.
The contract should take into consideration circumstances such as death of the seller, foreclosure of the property, or other transfers. A good attorney can help a renter eliminate the risks of a rent-to-own contract, so the renter can feel confident that he is making a good investment in his or her future.
You can also work with a rent to own service like Ownerwiz. These types of companies help make the process easier for both the buyer and the seller. Ownerwiz and similar companies provide listings of rent to own homes in your area and in your price range. They will also ensure the contract is funded and that your rent to own home becomes a reality.
Whichever road you decide to take, owning your own home is something many Americans will only dream of. If you have the opportunity, do your research and find out if one of the home ownership options makes sense for you.
There is a lot to learn when it comes to being a successful day trader. Many people get into dray trading (or consider it) because they think that it is a quick and convenient way to make a lot of money in a short period of time. However, the opposite is true. To make a lot of money day trading, it takes serious time, training, patience, and practice. There are also different aspects of the trading process, and it is unlikely that you will be great at both. For example, in order to trade, you must be able to analyze the market to determine which trades to make, and you must also be skilled at managing the trades, themselves. These two functions are referred to as analyzing and trading. Are you and analyst or a trader? Read on to figure it out:
What does an analyst do? There are two types of analysis: fundamental and technical. Both are necessary to successful trading. Fundamental analysis requires that you study what is going on in the particular market sector that you wish to invest in. For example, if you are looking into pharmaceutical stocks, then you will need to read magazine articles, study company accounting records, read the news, listen to experts in the financial market, and do anything else to size up what is happening in the pharmaceutical market. Technical analysis involves reading stock performance charts to watch stock movement; this movement is used to identify patterns that can help you predict where a stock will move to next.
What does a trader do? The trader is the one who is actually responsible for purchasing and selling stocks. While this may sound simple, it is actually quite complex. A good day trader knows when to purchase, for how much, and when to cash out. The day trading market moves at lightning speed, so traders must be able to think and act very quickly. They cannot afford to get caught up in emotion, and must stick to a carefully thought-out trading strategy.
Because it is unlikely that you will be strong in both analysis and trading, you need a viable solution that enables you the advantages of both. One of the best ways you can overcome this challenge is to find a trading partner that balances you out. If you are good at market analysis, then you need to find someone who is get at trading, and vice versa. By approaching trading realistically like this, you stand to make a considerable profit in the fast-moving world of day trading. Make sure you are studying day trading with Tim Sykes and other successful investors so that you can get a better understanding of the market, what works, and your unique position within it.