Finance, Loan, Debt and Credit.

July 31, 2016

4 Things You Should Know Before You Refinance Your Home Loan

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

Thanks to the economy, many homeowners are finding themselves stuck in a mortgage that doesn’t fit their current financial situation.  One solution to this issue is a home loan refinance.  This can allow you to lower your monthly payment and keep your head above water financially.  Here are a few tips to get you started and prepare you to refinance your home loan.1. Know your situation.  Prepare any documents that you may need to have on hand in order to apply for a refinance.  You’ll want the promissory note of your previous home loan, a copy of the loan statement, proof of income, tax data, insurance information, and so on.  You’ll need a lot of paperwork.  Get everything you need and organize it before you try to apply for a refinance.  This will make the process smoother for you and your lender and will greatly increase your odds of success.2. Know what you need.  It’s pointless to refinance your loan if you haven’t thought about the future and what your finances will be like over the coming years.  Make a budget.  Think long term.  Be honest with yourself.  Once you know what you need and what you can afford, shop around to find the best refinance package that will meet your unique needs.3. Know your lender.  Once you’ve found the right opportunity and the right refinance package, get to know the lender you’ll be working with.  This is very important.  You need to be able to trust your lender.  You are on the verge of a long-term relationship with this individual or company, a relationship built on your own financial hardship, and as a result you need to be able to trust this lender with information that pertains to your financial and personal life.  You need to be able to ask your lender for advice on a variety of financial topics related to your mortgage, and thus you need to be confident that your lender has your best interests in mind.4. Know your mortgage.  This may seem intuitive, but you need to know what you’re getting yourself into.  Read all terms and conditions of your new mortgage carefully.  Ask your lender questions.  Don’t be ashamed or afraid if you don’t understand a part of the loan.  Find out!  Educate yourself.  There are always additional options to consider, such as buying down your loan, pursuing a fixed rather than an adjustable rate, and so on.  Get the deal that’s right for you.If you prepare yourself and know these things, you’ll be that much more successful when you go to refinance your home.


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

 We all make mistakes, even when it comes to income taxes. Fortunately, the IRS has a form that can be used to correct those mistakes. However, this form isn’t just to correct errors. There could be any number of reasons to file “Form 1040X: Amended U.S. Individual Income Tax Return.”

Certainly, you will need to file Form 1040X if you discover that you made an error on your original tax return. But this form is also used to make other changes to your original filing. Perhaps you decide to change your filing status, or you find more deductions and decide to itemize them rather than claiming the standard deduction. You may have overlooked the earned income credit, or perhaps even forgot to report a dependent. You could also be unlucky enough to receive a “revised” brokerage statement or Form K-1 from a partnership or LLC long after you filed your original return.

Why bother to file a Form 1040X? If the IRS owes you money, you’ll want to file this form in order to receive your additional refund. Even if you owe the IRS, it’s wise to file Form 1040X rather than waiting for the IRS to catch the error, which will likely happen eventually. By being proactive, you’ll avoid some potentially stiff penalties and interest charges. However, the timing is critical. You have three years (including extensions) from the original due date of the return to file an amended return. If you didn’t pay your taxes in full when you submitted your return, you only have two years from the date you finally paid your tax bill to make the corrections.

If you think you should file an amended return, engaging the services of a qualified tax professional can make the process easier. The form has been revised recently and it can get confusing, especially if your tax issues are complicated. Contact our office for any assistance you need.

July 30, 2016

Finding The Right Mortgage Company

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

Houston VA Home Loans – Liberty Mortgage

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

VA Loan Refinance is a very beneficial mortgage with low interest rates and low down payment. We offer our home buyers some of the lowest Texas VA Loan Rates possible. So make full use of specialized mortgage brokerage solutions and save an awful lot of money, time and hassles. What is good for one Home Buyer may not be that advantageous for someone else . So there won’t be universally a good home loan or universally bad mortgage loan. You will need to look at the mortgage stipulations associated along with your specific finances and attain the best deals by considering your distinctive situation. At Liberty Mortgage our loan specialist can help you get the perfect Houston home loans for the perfect home. Use VA Loan to lower interest rate than conventional loan • Purchase home with $0 down • No Mortgage Insurance • Easier to Qualify Benefits of Houston VA Loans at Liberty Mortgage • We are VA Loan Specialist • We are dedicated to Serve Veteran Community • Handling your Mortgage and Real Estate Loans A VA Streamline Refinance also known as an IRR. It is an easy way to reduce your mortgage payment and save you a lot of money. A rationalize refinance can be done without an appraisal, no income verification, and no out-of-pocket expense. Refinancing can save you money by removing your monthly mortgage insurance and lowering your interest rate. Removing your mortgage insurance is usually the equivalent of lowering your interest rate by 1%. Refinancing into a VA loan can and will save your money each and every month. To get the best possible rate and terms your credit, income, and loan to value ratio will be important aspects for the best rate and terms. Your objective should be to get the best mortgage program that is right for you. There are a plenty of mortgage programs available in the marketplace. You have to select the one which is suitable according to your desire. The refinance mortgage rate calculators demonstrate Refinancing is an elegant move if you want to lower your monthly payment and overall interest on your bills. With refinance mortgages, you are also capable to change the term of the loan to a shorter one so you can pay off the loan earlier and save more on interest. There are several reasons why people want to take a refinance mortgage. This is also why refinance mortgage rate calculators are important. Refinance mortgage rate calculator help you in finding out how much is your monthly payment for your refinancing loan.

July 29, 2016

Debt Settlement – New Guidelines for Lower Credit Card Settlement

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


Last year around September 2009 the world was midst heavy debt condition. Due to unsecured debts piling on beyond the control of the economy we could see major financial institutions and banks failing. The stock market was at an all time low and finally the economy was slowly and steadily slipping into recession.


It was a desperate attempt on behalf of the government where they were trying to pick up the threads of the collapsing financial system and get the economy back on track . They could see that the economy was seriously suffering from lack of liquidity. To over come such liquidity crunch the Government decided to give across a stimuli package for the revival of the economy. A revival package of over $400 million was given to the corporates to pay off their bad debts and work out the capital crunch they had gone into.


In an effort to rebuild their capital base the credit giving companies have been settling accounts at extremely low rates of interest and also they are ready to forgo a good part of the loan so that they can collect as much as possible. As a practice the banks do not appreciate the low settlement. However since last year the paying capacity of people dipped drastically. Not only that the unemployment statistics went so high that creditors had no other means but to give up on debt and collect whatever people could pay back.


The Government also realized that one of the reasons for people facing such high unsecured bill is also due to the fact that credit giving companies have been behaving autocratically and have been raising the interest rate at their own will without informing the customer. According to the new bill this practice has been stopped. It was observed by the federal reserve that out of the over all dues which people needed to pay back to the creditors 6.5% of the debt was over 30 days old. According to the new rules the debt which is over six months old needs to be zeroed in the books of accounts of the creditors. The thought behind it is that if people have not paid back as yet probably the chances are they would never pay it back. The creditors are now in a hurry to settle debts with lucrative settlement deals before they are over six months old.


This is the right time for the debtors to go ahead settle old accounts as the policies are all in their favor. It is always advisable to make the right choice at the right time.


Unsecured Debt Consolidation Loan: What Is It And How It Works?

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

Is it part of your everyday life to be hounded by calls from creditors? Are you neck deep in debt and afraid that you are going to completely sink? If you are hoping to find that one thing that will help you get out of debt… don’t look too far because the answer is just here. A debt consolidation loan is one, which will help you break away from the circle of debts and give you a chance to think of a debt free future.

Broadly speaking, there are two types of debt consolidation loans – secured and unsecured. While secured loans require a collateral (e.g. house), unsecured loans do not need any such guarantee. Let’s take a deeper look into unsecured debt consolidation loans.

How does the unsecured debt consolidation loan work?

An unsecured debt consolidation loan is one does not need any collateral. It looks to consolidate various small loans and make it one bigger loan that will be easier to pay off. This loan would cover everything from medical bills, house bills, credit card bills, automobile loans and the like. All these loans will be made into one single loan that will be easier to manage.

One good example of unsecured debt consolidation loan is credit card balance transfer (wherein you transfer balance from multiple credit cards to one credit card and get the advantage of low APR on the new credit card). It is however important to note that that the unsecured debt consolidation loan does not cover secured debts.

The advantages of an unsecured debt consolidation loan are:

1. Reasonable rate of interest: The rate of interest on a debt consolidation loan is usually much lower than what you would have to otherwise pay (otherwise the consolidation loan will not make sense). You credit history determines a large part of how low your interest will be. A good credit history can make a significant difference to the amount of interest you need to pay on this consolidation loan.

2. Just one payment every month: Since all the loans are consolidated into one single loan, there will be only one payment that needs to be made every month. This reduces the hassles of keeping track of all the bills and their deadlines month after month. Faltering these deadlines would also result in penalty and furthering the financial burden.

3. Stress buster: No more annoying calls from credit companies, month after month demanding payment.

4. Faster processing: Since it is an unsecured loan the loan is processed really fast. You can start working on a debt free future immediately.

5. Reduced hassle: Less documentation is required for unsecured debt consolidation loans. That makes it easier for you.

6. Reduced burden: It relieves a lot of financial burden by lessening the rate of interest and/or giving more time to pay off the debt; thus making the monthly payments more feasible. A lot of over the limit charges and various other fees are also withdrawn.

These are some of the benefits offered by unsecured debt consolidation loans. If you just give it one hard thought, you will come up with your own personalized benefits too.

July 28, 2016

IRS Tax Levy Elimination

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

IRS Tax Levy Elimination

IRS Tax Levy Elimination

Via a tax levy the Internal Revenue Service can grab your property or home. This is what’s called wage garnishment (whenever they levy your income), bank account garnishment (whenever they levy your banking account). Obviously, you simply need to bother about this in the event you must pay back the IRS money and therefore are trying to hide for one explanation or the next. In case you are dealing with a tax levy you will need to discover just as much as you are able to about how exactly to prevent this particular from likely to explode. When you are aware how you can cease a tax levy you will get back again on the right track in no time and with any luck , maintain just about all of your property or home you own.

You have got to pay out your tax debt immediately. The easiest method to cease a tax levy is to pay off your debts without having to wait any more. Should you choose this, the IRS shall be pleased, and you will be happy that there is nothing dangling over your head to catch you unawares. Despite the fact that this is often probably the hardest method to cease a tax levy, it’s also the technique that you could function as the most certain of. To put it simply, should you spend on your debts, you won’t need to bother about a levy.

Try to think about an offer in Compromise (OIC). This is the time you have to pay the IRS lower than your debts to reconcile your tax debt. It will not only help you to eliminate your financial troubles, but it will likewise cease the levy procedure. For a lot of people, this is actually the perfect scenario even though with no tax professional the alterations of getting an OIC recognized is very uncommon. These people get to cut costs, as well as simultaneously these people will no longer need to bother about a levy. Regrettably, it is not easy to be able to make the most of this process since the IRS mandates that you fulfill particular specifications and additionally these people usually do not take OICs.

You can constantly wish that the lien finishes prior to the issuance of a tax levy. This can be an answer, although not one you want to depend on. Anytime the IRS can lengthen the actual lien and once more place you in an undesirable situation.

There is also an IRS Installment Agreement option. Ordinarily, should you arrived at a repayment contract with the IRS such as an IRS Installment Agreement in places you accept compensate your taxes in time they’re not going to go after levying your wages, bank accounts, or other private asset you might have.

The ultimate way to cease a tax levy would be to in no way reach this situation to begin with. If you do get yourself dealing with a levy, try one of many options above and get in touch with an IRS tax attorney or tax firm with a varied group of tax specialists which range from tax accountants to tax attorneys.

Please click the links for more information about tax debt and

How to get a Bad Credit, Home Mortgage Refinance Loan With effortless Terms

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

In current critical economical situation, people obtain a lowest mortgage refinance rate loan for various reasons. However, people with bad credit are normally are faced with another problem. Loan providers tend to provide this people with mortgage refinance loans that are of high interest rates. In addition, they also impose stringent clauses on them in these loans. However, do not lose hope. With a proper approach, even people with bad credit can acquire the refinancing loan with terms that meet their requirements.

Dealing through Your Poor Credit

Before acquiring any loans, you first have to understand why loan providers will impose higher interest rates and more stringent clauses for people who have lousy credit ratings. This is because of the risk you imposed for the lenders; it is natural that the financial institutions will provide you the loan with unfavorable terms. So, in order to get a bad credit home mortgage refinancing loan with terms and conditions similar to people with good credit, below are some points you need to keep in mind to help you improve your credit worthiness.

There are best Way by which you can improve your credit rating. You can first consolidate all your debts and get a loan to pay these debts so that you only have to pay a single installment for the new loan you have taken. This can help you to pay your bills on time and not missing any of the small debts you may deal with.

Next, you can consult an agency specialized in helping people with bad credit to fix their problem of a poor or bad credit history.

Other ways to get a refinancing loan with favorable rates are as below:



Get ready to Pay A Down Payment

In most cases, lenders will require a down payment for the loan you wanted to get. By making a down payment, it can help in cutting costs because of the waiver to having to pay the closing costs. However, people already in debts may find it difficult to save enough to pay this down payment. Therefore, it is good if you start saving today and be cautious about how you spend. It will be a good idea that you save enough to pay this down payment in order to get a second mortgage refinance loan with terms favorable to you.

Finally, you should research on the internet to compare the quotes by the different lenders on the market. Do not jump on the first loan providers you come across. Make all the proper calculation and ensure that with the new loan you acquire, the monthly installment will not be more than what you pay for the current loan. Take care of all the hidden costs and fees associated with the new loan.

July 27, 2016

Income Tax Filling Tips: Little Things One Should Know on Submission of Income Tax Return

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

Every entity, corporations to individuals, must submit income tax return for every financial year and the tax charged is based on the monetary income of the respective year. In case of the companies or business houses the tax is charged on the net income whereas in case of the individuals total income is taken into consideration to charge the tax. The finance market has provisions for different tax systems and tax may be progressive and regressive categorically. It is necessary to organize the financial data reflecting income in a financial year neatly. It is necessary to file them with the respective organization. Most of the people are not apt at doing it properly and there are professionals in the tax services who possess expertise and who come forward to assist the rest. Submission of tax return is not easy and there is no ready-made system. It is always fine to engage one tax consultant for this purpose. The task of submitting income tax return requires all-time works and not just the last moment’s hectic activities. Documents relating to all kinds of receipts and payments are to be preserved and entries for all those are to be made in specific books. Donations have also role to play. If all the papers are not properly kept and kept in a way that they may not be produced ready at hand, it creates problem while preparing the income tax files. This creates confusion on finding the possibility and extent of tax savings. One should be conscious of tax credits. Educational tax credit is allowed if one has children studying in an educational institute or in a university. This takes down the amount of tax for the respective financial year. Marital status of a person has something to shape the taxable amount. One who submits income tax return as an individual is sure to pay more tax than one who does the same jointly with one’s wife or husband. It is very important to secure services from a competent income tax professional, usually a chartered accountant. The entire task of taking into account all kinds of annual income, donations to charitable institutions, standardized deductions, corporate tax, personal tax etc is extremely complex and it will consume much of one’s time. But it is necessary to know what amount is to be paid as income tax and what amount has been saved. It is necessary for submission of income tax for the next year also.

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