5 MISTAKES TO STAY AWAY CONCERNING CREDIT CARD DEBT - Part 3

6:38 AM Posted by Jason


stay away credit card debtNo 4 Mistake (Not to do): You acquire a Home Equity Loan or Personal Loan to disburse Your Debts

Apparently this sounds a great idea. Your credit debts are compensated, and you have serenity within you. But the problem is that liability has not disappeared; it has turned in the shape of a loan now. Yes your credit card groups are no longer harassing you for imbursement, but you will still be receiving a monthly statement from the bank and you will almost certainly be obligated a larger bare minimum to them than you would on your cards. The troubles really commence to crop up when you have the loan costs and you don't stop with your credit cards. Keep away from this difficulty by paying off your cards without getting support from the bank.

No 5 Mistake (Not to do): Time and again you pay the minimum balance

When you decide to compensate the least balance on your credit cards, the credit card companies pick the profit. At standard interest rates of 15% - 20%, companies are gathering in millions on your unpaid costs and due balance. It is comprehensible that you may not be clever enough to pay off the whole sum in one recompense, but always strive to pay as much as you can to bind the interest you will pay in the upcoming days.

For previous two parts check Part 1 & Part 2



5 MISTAKES TO STAY AWAY CONCERNING CREDIT CARD DEBT - part 2

6:27 AM Posted by Jason


credit card debt
No 2 Mistake (Not to do): You merge Your Debt

Paying one big amount of bill has got to be superior rather than paying many lesser bills, but for somebody of course, if you can avoid this do so at all costs! Companies can abandon your credit card and bank accounts. Moreover, your credit report will be an indication of "third party assistance" when you are with a liability consolidation service. If you require paying off your credit card bills with one monthly amount, think about by means of the "waterfall" way of recompense.

With this technique, you decide a bump figure like $500 per month that you wish for paying. You then obtain your card with the maximum balance or maximum interest (this is supported on your priorities), and use the greater part of your $500 per month on the road to that bill. You then place a part of that toward your subsequent utmost priority card, a lesser section to the third priority, and so on.

No 3 Mistake (Not to do): You Pay a lofty Interest Rate on Your Credit Cards Without Inquiring It

Every now and then you will be in a situation where you can't bargain a lower interest rate with your credit card group. If you are in good position, have good quality credit, and put together customary expenditure above the minimum, you are in a place to potentially lesser your charges. Surveys explain an average of 57% of populace who gather the criterion above were winning in lowering interest charges by just calling his credit card party. Certainly there should be an impulse to give it an attempt! Just call up your credit card company, give details to them that you have been a fine customer, and request them if they could decrease your interest rates.

For the rest of the article check Part 1 & Part 3


5 MISTAKES TO STAY AWAY CONCERNING CREDIT CARD DEBT - Part 1

6:20 AM Posted by Jason


stay away from credit card debtIf you are burdened with credit card debts, you should shake yourself to pay it off. It is important to decide the actual point of time while keeping in mind how to disburse. Learn 5 ways to avoid mistakes while paying it off at the same time maintaining your good credit score.

No 1 Mistake (Not to do): You withdraw Your Credit Cards driven by sheer discontent

You make contact with credit card companies to cancel the cards. This could be a grand way out to stop payments, but could ground for immense damage to your credit score. Because it sends negative vibes to credit bureau. So withdrawing your cards isn't the solution. But you call them the company to ask them to settle up you up with a payment plan. If you can uphold a steadiness which is not more than 25% of your credit limit, credit score will get better.

For rest of the article check part 2 & part 3



The Basics of Mortgage - Part 2

10:05 AM Posted by Jason


Types of Mortgage

Mortgage also depends on mortgage term and interest rates. The mortgage term is usually 15 or 30 years. There are rates too of two types Fixed rate or adjustable rate mortgage. In fixed rate mortgage the mortgage interest rate will be same through out the loan term. In case of adjustable rate mortgage, its completely opposite to the previous. In ARM (adjustable rate mortgage) the mortgage rate fluctuates according to the market rate. The most popular mortgage is 30 year mortgage of fixed rate. This longer time frame will lower the monthly payment and the fixed rate will stabilize your future payment. With the lower interest rate it is very popular among the borrowers. But its problem is that if the interest rate declines then still you have to pay the older high interest rates. But if you have good credit history and adequate income then you can opt for refinancing your mortgage if the mortgage interest rate goes down. There is another term is also available its 40 years mortgage.

Mortgage Rates and Minimum Incomes Needed to Qualify

Mortgage Rates and Minimum Incomes Needed to Qualify

Interest Rate

Monthly Payment

Minimum Annual Income

4%

$454

$21,770

5%

$510

$24,479

6%

$570

$27,340

7%

$632

$30,338

8%

$697

$33,460

9%

$764

$36,691

10%

$834

$40,017

11%

$905

$43,426

12%

$977

$46,905


All Mortgage companies generally use ratios to determine the mortgage payment. From above you can check the monthly payments of principal and interest, and income needed to qualify for $95,000 mortgage at different mortgage rates, amortized on thirty year schedule and assuming the payment ratio of 25%.

From: National Association of Home Builders, The Economics Division.


Some other options:

When you can’t afford a conventional mortgage, there are many options available in the market. The seller can sometime propose owner financing. FHA (Federal Housing Administration) can also offer you loan at merely 3% down payment but then you have to buy mortgage insurance. For the veteran U.S. army personnel, the VA (Veterans Administration) can offer no money down payment mortgage. You can local mortgage lenders, FHA, Fannie Mae or VA for more information on mortgage options.

The Basics of Mortgage - Part 1

10:03 AM Posted by Jason


Generally home buyers always been confused over many issues such as which mortgage to choose, adjustable rate or floating and for how many years? Even how much mortgage can I afford? I am trying to solve some of these problems through this series of posts.

Purchasing a house is the biggest financial investment that we make in our whole lifetime. Before doing any large project, there are many intriguing issues that can haunt us and make our decision complex. Similarly buying a home is also full of complex tasks and we cannot escape them. The cleverest approach is to break the process into some smaller tasks. Such three steps are

1. Check all your records and data.
2. Taking decision about your affordability.
3. Looking for mortgage options available.

Before searching for a home, you should decide on how much loan you can afford. Some mortgage lender can prequalify the borrower up to an amount determined by them. If you be prequalified then you can search a home with a realistic budget in your mind. But being prequalified you have to submit the loan application and this process can take sometime.

You should also check your credit report. First contact your local lender and find out which credit bureau they are using. After that get in touch with the credit bureau and apply for your credit report. You can get free individual credit report in most of the states. Then check whether all the details are ok or not. Don’t worry much if you find the past credit problems in the report. Present a justified reason for the inability to pay in past and also show how your ability to pay have been improved and you can pay on time.

2009 Experiencing the Used Gold Rush

10:33 AM Posted by Jason


gold powerAll the economically downtrodden Americans today are trying to sell their jewelry and gold to have some extra cash. As the gold price is shooting upwards, the used gold sell is attracting more Americans than anything else. People from every income level are going to sell their old unused gold to earn some quick cash.

According to report gold prices have almost gone up by 50% since 2006 where as the stock price has been down by 37%. So it’s a high time for the Americans to encash their long saved high return gold power. Even diamond is also being tried for quick cash.

For this growing interest of selling valuable jewelry and major gems, auction houses are also finding themselves in the seventh heaven. They are also trying to be selective while choosing the auction items and antiques.

In these days the gold prices is increasing whereas the other gem prices are not so lucky. The diamond price has been down from last year.

For the complete report check the full story at here