Finance, Loan, Debt and Credit.

August 31, 2015

Online Auto Loans No Credit Check – Auto Loans for Bad Credit

Filed under: Loan — Tags: , , , , , — admin @ 12:46 pm

Need cash to buy a car? You can go to the local bank to apply for the loan. But then, the bank will take ages to assess your credit score. Most nationalized and local financial institutions check your FICO credit ratings before they grant you the loan. FICO is the official entity which grades your credit repayment in the past. If you have a credit score below 650, your application is most likely to be approved. But does that mean that you would not be able to buy the car you need? Of course you can. Online auto loans no credit check facilitates your purpose.

Most Internet based financial institutions do not perform credit checks while processing your loan application. This is why you can easily procure the loan no matter how your credit score is: good, bad, poor, or if even not exists. Getting a vehicle financed was never as easy as it is through the internet based financial institutions.

However as there are scores of schemes available, you need to do some research to find the best deal. You have to look for a company that would finance as much as you need. You will, however, have to put aside some money to make an upfront payment. Decide on how much amount can you pay upfront and how much you need to get financed. While looking for online auto loans no credit check, you also need to see how much interest they are charging for different periods. Once you calculate everything related to your monthly expenses, it will be easy to repay your loan while at the same time improving your credit score.

Eliminate Credit Card Debt Without Bankruptcy The Right Way

Filed under: Credit — Tags: , , , , , , , , — admin @ 12:47 am

Getting into trouble with credit card debt is easy. Paying off that debt may be the most difficult task ever faced.

The right way to get out of debt is to pay what is owed. Unless the cards or a person’s identity were stolen and fraudulent charges were made, there is an obligation to repay the credit card debt incurred.

Hector Milla Editor of the “Credit Card Debt Free” website — http://www.CreditCardDebtFree.org — pointed out;

“…Stop Using All Credit Cards – Immediately stop using credit for any purpose. Credit card debt cannot decrease if charges continue to be made. Secure all credit cards so as to avoid temptation. Put them in a safety deposit box or freeze them in a block of ice…”

Cut Expenses – Get completely back to basics. The only things that are necessities are food, water, clothing, shelter and basic utilities.

Everything else is extra. Cancel cable TV, extra phone services, internet service and anything else that isn’t absolutely essential to survival. Quit eating meals out or buying coffee at specialty coffee shops.

Generate More Money – Get a job or a second job, if possible. Make money at home by babysitting, doing yard work or cleaning houses. Place an ad to sell any big-ticket items or toys that you can live without, especially if you still owe money on them. A big screen TV, second car, motorcycle or unneeded furniture can provide a significant amount of cash to put toward credit card debt. Have a garage or yard sale and turn excess small items into cash.

“…Pay Off the Debt – Put all the money saved each month and any extra money from work or sales toward paying off the credit card with the lowest balance. Once that card is paid, put all extra money toward the card with the next lowest balance. Continue in this manner until all accounts are paid. Once you are debt-free, DO NOT start using the credit cards again. Also do not cancel the credit card accounts as that will adversely affect your credit score…” added H. Milla.

Further information about trusted and reputable companies for credit card debt settlement by visiting; http://www.CreditCardDebtFree.org

August 30, 2015

Bad Credit Refinance Auto Loans

Filed under: Loan — Tags: , , , , — admin @ 12:47 pm

Many people suffering from bad credit want to buy a car or refinance an old loan. Most will wonder if they can refinance loans to get a better rate or monthly payment. Often times people are unaware of their credit and how it affects loans. Lenders understand many factors can contribute to a persons credit history and are always looking for new business. Some times people take loans without knowing the proper information before applying. The best advice is to research everything and get multiple opinions. Ask someone you trust for some advice.
Before you apply for a refinance it is advisable to get a copy of your credit report. There are many sites online that will offer a free credit report. Understanding your credit score will help you to negotiate the interest rate of your loan. If you don’t know your credit score and are unprepared a lender can charge you a much higher rate. Also, you will be able to look at any negative items and dispute them if necessary. It may not be worth while to refinance if your credit is worse than before. You can weigh all factors to determine if your credit score and the loan rate are right for you.
You can get online and research some auto loan quotes. Many sites will give you at least 3 quotes. You will be able to have a good idea of what you might expect to pay. Always check the financing terms to make sure the payment will be something you are comfortable paying and the amount of the term. Sometimes people will refinance a loan to keep a vehicle and get the loan in their name. You can improve your credit rating by getting the loan in your name and making all of your payments on time.
Divorce is one way where you can apply for a new loan to get the car in your name. If you have had positive changes in your credit it is also a good idea to apply for some better terms. If your first loan has a co signer you can refinance the loan by yourself. Usually, people do not want to keep the car in both names so its advisable to get a new loan after divorce.
Many people can benefit from refinancing an auto loan. Changes in credit, life, co signers are all reasons to apply for a new loan. It helps to be prepared by getting a copy of your credit report before applying.

A Reverse Mortgage Discussion

Filed under: Mortgage — Tags: , , , — admin @ 12:47 am

Reverse mortgages are a way for seniors aged 62 and above to take cash out of their house. The equity the senior has built up over the years can be used beneficially to aid in their retirement. Here are some thoughts and ramblings about reverse mortgages that you may find helpful.

Seniors can choose to take the cash from a reverse mortgage as a lump sum, in a line of credit or in monthly payments. If

they choose a lump sum, for example, Forer said that they could pay to retrofit their home to make kitchens and bathrooms

safer and more accessible? Especially important to those who are becoming frail and in danger of falling. As one grows older

all the appliances etc. can be fitted differently to help in everyday functioning. Seniors, in a very personal way, know that

staying in their home, close to their memories and in a familiar neighborhood, can be very important factor in enjoying

retirement. Securing a Reverse Mortgage enables a senior to do that, and many companies are designed specifically to assist

seniors with reverse mortgage needs. Senior home ownership and life expectancy rates are climbing steadily and therefore more

seniors are qualifying for reverse mortgages. Accordingly, now is the ideal time to establish consumer protections so that as

the reverse mortgage industry grows, current pitfalls and hazards for consumers do not expand as well. The national reverse

mortgage lenders association does that.

When deciding what options to pursue with a reverse mortgage make sure you check the NRMLA site which forbids fraudulent

activities. Here is a direct quote from them “National Reverse Mortgage Lenders Association (NRMLA) is the national voice of

the reverse mortgage industry, serving as an educational resource, policy advocate and public affairs center for lenders and

related professionals. NRMLA was established in 1997 to enhance the professionalism of the reverse mortgage business. Our

mission is to educate consumers about the pros and cons of reverse mortgages, to train lenders to be sensitive to clients’

needs, to enforce our Code of Conduct and Best Practices, and to promote reverse mortgages in the news media.”

Seniors actively considering a reverse mortgage could certainly find value in comparing their personal expectations with the

experiences of actual borrowers. Most HECM (Home Equity Conversion Mortgage) borrowers are estimating their future ability

(or desire) to “age in place”. No one knows exactly how long you will be able to stay in your house but it is better to be

prepared for a lengthy stay. Seniors who live on a fixed income may be concerned that their retirement savings and Social

Security income may not be enough to keep up with the rate of inflation. Catastrophes and other unexpected events create

unexpected expenses that weren’t saved for. It is for these reasons that a reverse mortgage might be beneficial. Seniors are

encouraged to talk with their children about reverse mortgages and why it might be the best course of action. The reverse

mortgage has an immediate impact on many children by easing any financial burdens of helping their parents.

Carefully review the reverse mortgage to determine the type of compensation the homeowner is to receive, frequency, schedule

of receipt, amounts, etc. If the money from the mortgage establishes a line of credit, consider the entire amount of the line

of credit as a countable resource effective the month the line of credit becomes available. Carefully weigh the pros and cons

of all cash flow options. Folks in early retirement should remember that the younger they are, the less money they are

eligible to receive because of the life expectancy factor in the loan payment formula. If you wait till later in retirement

your benefits will go up because they don’t expect to pay them as long. The disadvantage of waiting is the benefits could

change because the value of the house could be less and a senior may not qualify for as much based on the equity.

When deciding make sure you talk with a counselor as early in the process as possible. They are non partial and can answer any questions you may have about a reverse mortgage. It is mandatory so why not take advantage of this formality to make sure this is the best option for you. If there are lender specific questions feel free to call me 414-531-4035 and ask for David. You may also go to David’s website for more information at http://wisconsinreversemortgages.net/

August 29, 2015

Mortgage Broker: a New Home for Your Skills?

Filed under: Mortgage — Tags: , , , , , — admin @ 12:46 pm

A mortgage broker is the advisor assigned to a customer in order to find the right mortgage product. It is mostly an advisory role, explaining complex mortgage options and products to an existing client or a first time buyer. The job also requires a mortgage broker to deal with estate agents, surveyors and mortgage lenders. This means that a mortgage broker needs to be constantly up to date with new or changing guidelines set out by the Financial Standards Agency (FSA) as they would need to communicate these changes to their clients. The mortgage broker job is often pressurised to meet sales targets but this is rewarded with high bonuses called ‘On Target Earnings’. A mortgage broker job can also come with a company car as well as special pension and insurance benefits.

As mortgages are offered in nearly all high street banks and building societies, they are the most obvious place to look for a mortgage broker job. Often mortgage brokers have worked their way up through the company, most often starting in customer services. This form of training will be tailor made to the company that is doing the training as they will only be able to offer in depth teaching on their own way of offering particular mortgage packages, so it is important to consider how you, as a trainee, understands other lender’s packages. However, there are other ways to train for the mortgage broker job. Employers usually run apprentice training schemes where on the job learning is paid for. On the job training schemes also start new employees on different jobs in areas such as insurance to learn all aspects of the mortgage market. Online learning is also becoming an increasingly popular way to study for qualifications and there are several accredited schemes available on the web. As the FSA’s standards on qualifications have become more stringent, it is important that new trainees quickly establish themselves in a particular area of mortgages to specialise in as this will increase employment opportunities.

To train as a mortgage broker, you will need to have gained industry recognised qualifications such as a CeFA (School of Finance Certificate for Financial Advisors) or Certificate and Diploma in Financial Planning. Once these qualifications are gained then a trainee mortgage advisor has an averaging basic salary of £18,000 per year, without commission or bonuses. To be classed as a fully trained mortgage broker, the trainee will need to have undergone further on the job training with supervised meetings with clients in order for employers to assess the progress of the trainee. Once the trainee has successfully underwritten the desired amount of mortgages and tasks, they will then be fully trained and offered promotion or a higher salary. In mortgage broker jobs employers do not select new recruits based on ‘A’ level or degree results, often it is personal motivation, previous customer service experience and most importantly on people skills as the job requires a lot of one on one meetings with a broad range of clients. As the mortgage broker job is people orientated, like any sales related work, the hours are often long with shift work at weekends as well as some evening work (especially if you take an independent, self employed mortgage broker job). Further qualifications are available as the mortgage broker job can lead on to becoming a financial advisor.

Irs Tax Debt Guide

Filed under: Tax — Tags: , — admin @ 12:47 am

 

If you have a tax debt from past years, or have already done your taxes for this year and expect to owe money, you can find a solution. The solution is not to ignore the debt, however. Although the IRS only has ten years to collect a tax debt, it has many very powerful tools at its disposal during those ten years. You’ll be much happier if you deal with it now. Possible solutions include:

Savings and personal loans

Extension of time to pay

Temporary delay

Installment agreement

Offer-in-compromise

Savings and Personal Loans

If you owe an IRS tax debt, the best solution is to use your savings or borrow funds to pay the debt. By paying the full balance when it’s due, the amount you owe will be much lower than if you request one of the IRS payment options, which will include penalties and interest. If you borrow against your home to pay the IRS debt, the interest you pay may actually be tax deductible.

Extension of Time to Pay Tax Debt

If you prepare your taxes before April 15 and know you won’t be able to pay the tax due, you can file for an extension of time to pay. Depending on your circumstances, the extension will be anywhere from 30 to 120 days. Pay as much as you can early to reduce the penalties and interest owed. Interest averages 5% a month and varies by month. You must request the extension before April 15 in order to qualify.

Temporary Delay

If you’re experiencing a financial hardship or other personal hardship such as severe illness or a loss of financial records due to a natural disaster, the IRS may grant a temporary delay of payment of your tax debt. In some cases, penalties may also be waived, but interest usually applies. You must contact the IRS to request the delay. The sooner you contact them, the sooner they can help you.

Tax Debt Installment Agreement

If your debt is large enough that you can’t pay it within 120 days, you can request an installment agreement from the IRS. An IRS officer will review your income and expenses, and then determine a payment plan. Interest will apply, but the plan will legally extend the amount of time you have to pay. During that time, you must stay current with your tax returns and payroll taxes. You must also make every installment payment on time. If you fail to do either, the IRS may rescind the agreement.

Offer-in-Compromise

Offers-in-compromise are frequently advertised on television, but they aren’t the simple tax debt solutions they’re made out to be. Only 15% of OIC applications are approved. You must be able to show the IRS that this is the most you can afford to pay. As of 2006, there are additional restrictions governing OIC applications and agreements:

You must pay a $150 application fee

The IRS must process the application within 24 months or it is deemed automatically accepted (average time is 12 months)

You must be current with your estimated tax or payroll withholding for the current year

You must not be in bankruptcy

You must have filed all required tax returns

If offering a lump sum, you must make a 20% down payment

If offering monthly payments, you must make those monthly payments while the offer is being processed.

If you fail to make a 20% down payment or miss one of the monthly payments, depending on the option you chose, the offer will be considered withdrawn

If you fail to file a tax return or pay a tax liability during the five years after the offer is accepted, it will be withdrawn and the full liability will again be due

If you owe a tax debt, the best option is to pay it in full by the due date. If you can’t do that, then consider the remaining options. Avoiding the debt is never the best option. Instead, contact a tax professional for helping finding the right solution for you.

For more articles and suggestions, visit http://www.bills.com/debt-help/

 

August 28, 2015

Poor Credit Auto Loans – Loans for Automobiles on Bad Credit

Filed under: Loan — Tags: , , , , , — admin @ 12:47 pm

Is the poor credit mark on your credit ranking stopping you from applying for financing a car? Your application for a car loan has high chances of being rejected if you approach the traditional bankers. The credit checking is one of the most important factors whereby they approve your loan. Forget the tensions. Apply for the poor credit auto loans with the internet based money lenders.

These auto loans are designed for people who need a car but cannot get them financed as they carry a poor credit. The money lenders operating online do not care about your past. They say that they are not interested in your past. They believe in your present and hence will finance you your car even if you have a poor credit.

Speaking of poor credit auto loans, you can avail either a secured or an unsecured loan. While you get to save some money on the secured loans by way of reduction in interest, you may have to face the risk of losing your property in case you default. On the other hand, if you take an unsecured loan, you get to keep the car without any risk of losing any property.

But then, there is a small catch. If you got your car financed under the scheme of unsecured poor credit auto loans, the ownership of the car remains with the money lender until you pay the loan. This means you get to keep the car but the papers of the car are in the name of the money lender. Once you clear off the debt, the papers are transferred to you within days without any extra charge. To retain your property and the car, it is always better to do some planning in advance. You need to plan how much money you can afford to keep aside for the installment. If you pay the installment on time and pay off the debt, not only the car papers are transferred to you, you also get a higher ranking in the books of credit rating agencies.

Free Tax Filing – Should I File My Taxes Myself?

Filed under: Tax — Tags: , , , , , — admin @ 12:47 am

Every tax season, the question I get most is “Should I just pay someone to do my taxes?”. Every year my answer is the same, “it depends”. There are many factors that should be considered before making the final decision to tackle the tax beast. In the end, the decision is yours. Let’s talk about what to consider.

First off, how complex are your taxes? If you are single, rent your home, don’t have many deductions and don’t have any special tax circumstances, the decision is easy. You simply go online to a site such as TurboTax and take advantage of free federal filing. State filings usually have a small cost, but that is pretty standard. The best part about using a site such as TurboTax is that when you go to do your taxes next year, they will copy over as much information as possible from this year’s tax return. They will also help you make all the decisions about your return. They ask you all the right questions and your answers tell them what they need to know. You’ll never touch a 1040 form again.

Most people do not have it so easy when it comes to this decision. Taxes get more complex with the more deductions and sources of income you have. If you own a rental property, have deductions for child care, medical expenses, own your home, or have income from stocks and bonds (If you made money in this market, I want to meet your financial advisor!), you may not be filing the simplest tax forms. If your deductions total enough, you will want to itemize your deductions instead of taking the standard deduction. In English please?! The government sets a baseline for how much the average person spends in a year that would be tax deductible. This amount is called the “standard deduction”. This amount is about $5,500 this year for those filing single. In other words, if you don’t have any deductions, you get to claim the standard deduction. If your deductions total more than $5,500, it is in your best interest to list out all of your deductions and get the higher deduction amount.

So a good question to ask is whether you will be taking the standard deduction. If not, how complex are the deductions you will list out? Losses on investments and rental properties are much easier to list out than entering data from a form 1098 for the interest on your mortgage. The same applies to the income side. Entering a W-2 is much easier than entering all of your purchases and sales of your favorite stock. If you still have a favorite stock. The best approach is to gather all the necessary information. You will want information on all the money you made, all the interest that was paid to you, all money you contributed to charity, and all other deductions you may have. If you think there is a chance that you may be able to handle it yourself, remember that you can enter your information on TurboTax without having to pay anything. You only pay if and when you get through the process and decide to actually file your return. You may find that it is a very manageable process. If it gets too complex, you might want to gather all of your paperwork and start the hunt for a quality tax preparer. Just beware of the fact that anyone can call themselves a tax preparer. If your taxes are complex enough to need professional help, make sure you don’t trust just anyone.

Happy Tax Season!

August 27, 2015

Marketing Tips for Mortgage Brokers of FHA Streamline Refinances

Filed under: Loan — Tags: , , , , , , , — admin @ 12:47 pm

The best way to market FHA streamline refinances is to make a client understand what he stands to gain by taking it as well as what he could lose if he opts for another kind of loan.
What is FHA Streamline Refinancing
The best way to think of FHA streamline refinancing is as a shortcut to taking out a better mortgage overall. People who qualify for a FHA streamline refinance loan can get their current interest rate lowered right away and usually without even having their home subjected to a lengthy appraisal first. With FHA streamline refinancing, clients will also have lesser paperwork to deal with, something that many clients have reason to be thankful of.
In explaining what FHA streamline refinancing is to your client, try retracing the steps for taking out a mortgage. Highlight the tasks that are not just time-consuming but costly as well, tasks that will be immediately removed from the equation if they pass for FHA streamline refinancing.
Who Can Apply for FHA Streamline Refinancing
Unfortunately, not everyone is qualified to obtain FHA streamline refinancing. Firstly, the client’s original or first home loan must have been provided by the FHA. In view of this, you should take the initiative of contacting old clients whom you’ve helped secure a FHA loan on their homes. They might not know they’re in need of FHA streamline refinancing or what they stand to gain from it, but thankfully, you’re here to enlighten them.
Another requirement is that your FHA loan must be of good standing. Your payment history should only reflective positive behavior from you.
How Can People Benefit from FHA Streamline Refinancing
One thing you should let your clients know is that FHA streamline refinancing doesn’t offer them a cash-back option. Simply put, FHA streamline refinancing is only used to help them reduce their monthly interest expenses. From there, clients will be able to receive extra money and put it to better use.
You have to make this clear to your clients as FHA streamline refinancing is truly not ideal for all mortgage takers. If you believe that a client is in greater need of a cash-out refinancing loan rather than streamline refinancing, it is your responsibility to steer your client to the right direction.
Having an original home loan that is an FHA loan with a good status is a must to qualify for a streamlined refinance. Also, the payments of your monthly interest must be lowered by the refinance. Although there is no option to receive cash back, it’s good to know that this refinancing option can reduce your monthly expenses. If you are someone with a good financial standing and you don’t have any significant debt, this will work well for you as it allows you to get some monthly extra money that you can use on other ventures.
To end on a lighter note, those who do qualify for and will benefit from FHA streamline refinancing can also look forward to include closing costs in the total loan amount of FHA streamline refinance.
The Final Marketing Touches for FHA Streamline Refinancing
FHA streamline refinancing is ideal for people with little need for a huge amount of money but can benefit greatly from lowered monthly expenses. As a mortgage broker, it’s your job to make them see what you’re seeing. Do that and it’s impossible for any of your clients to refuse taking out a FA streamline refinance loan!

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