Finance, Loan, Debt and Credit.

April 6, 2018

Federal Income Tax Return – Calculate Returns Using Efiling

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

For more information on Federal Tax Forms and Federal income tax returns, please visit our websites.

February 24, 2018

Advantages to Using a Mortgage Broker Vs. a Local Bank

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


Many individuals who are in the market for a mortgage loan will go directly to the bank that they are used to doing business with, or at best will take the time to shop around at two or three different banks in order to try and find the best deal. While there is obviously nothing wrong with this practice, better deals on mortgage rates and terms can often be found through the use of a mortgage broker instead of dealing with banks or other mortgage lenders directly. Using a mortgage broker can help you to find a wider range of loan offers without having to do nearly as much work, and may even be able to find you loan options that you were previously unaware of or may not have even been able to apply for on your own.

But what is a mortgage broker? In simple terms, the broker is not a lender. He or she may work for a company that has a bank-sounding name, but they really serve as independent sales people representing a variety of banks and financial institutions who will ultimately make the loan and service the payments. The mortgage broker does not represent any one financial institution; therefore they act as your representative when shopping for a home loan. Mortgage brokers work solely on commission and they do not get paid anything if the loan does not close. It is in their best interest to get you approved and to secure terms that are beneficial and affordable to you. In contrast, your local bank can only make loans strictly according to the terms of what their institution is currently offering. Bank loan officers are typically compensated by a combination of salary and commission.

There are a number of advantages to using a mortgage broker instead of applying for your loan through a local bank. The most obvious of these advantages is the fact that the broker already has contacts with a number of different banks and mortgage lenders, letting you take advantage of this to receive competing loan quotes without having to seek out each one individually. Many mortgage brokers will even be able to bring you loan offers from banks and other lenders outside of your local area, giving you loan options that you might not have had access to otherwise.

In addition to simply having a larger number of loan options, you may also be able to receive deals on your mortgage loan that you simply would not be able to get if you were not using a mortgage broker. Many mortgage brokers will be able to use the relationships that they have built with lenders over the years to negotiate better rates and mortgage loan terms than an individual would be able to find on their own, helping you to save money both on interest rates and other costs that may be associated with your mortgage. Your local bank simply may not be able to match the interest rates and loan terms that a mortgage broker can offer.

Another advantage of using a mortgage broker instead of applying for a mortgage loan at a local bank is the fact that many mortgage brokers are able to arrange a variety of different payment options. While local banks may have specific payment options that they use, your mortgage broker may be able to find a loan that fits your specific payment needs. With almost any lender you can make payments using automatic withdrawal, by making deposits into a specified account, by sending in a check or money order each month, or other payment options that your broker can specify for you.

Should you later need to refinance your mortgage loan, using a mortgage broker can be a major asset here as well. They will be able to compare interest rates and loan terms for you easily, helping you to find the best deal available on your mortgage refinance so that you can adjust your mortgage as needed. Your refinanced loan may be with the same bank or mortgage lender that the broker connected you with when the original mortgage loan was taken out, or they may be able to find you a better deal elsewhere without you having to do all of the legwork of checking all of the lenders that the broker has access to.

If you do decide to use a mortgage broker instead of a local bank, keep in mind that you should take a little bit of time to compare different mortgage brokers in your area so that you will be able to get the best deal possible on your mortgage loan. Speak with several brokers and find out the average interest rates that they might be able to get for you, comparing them just as you would different banks if you were shopping for your mortgage without the broker. This will help you to find the mortgage broker that has the right connections to get you a great deal on your mortgage loan, and will also help you to make sure that you have fully explored your options.

Shawn Thomas is a freelance writer who writes about topics and financial products pertaining to the mortgage industry such an adjustable rate mortgage available from a mortgage lender.

February 13, 2018

Using Your Home Refinance Loan For Debt Consolidation

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


With today’s economy it can be difficult to get a new mortgage, but securing refinancing for your existing mortgage is not quite as difficult.

One of the ways that many people consolidate their debt is by refinancing their homes and then securing additional funds through that refinance to pay off existing debt.

Hector Milla Editor of the “Best Debt Consolidation Services” website — http://www.BestDebtConsolidationServices.net — pointed out;

“…One the surface this may seem like a very good idea, and if it is done through a debt consolidation professional then they can assure that it is done properly and can be a winning situation for you and your finances. But there are a few things to consider as you attempt to refinance your home to consolidate your debt…”

If you are getting a 15 or 30 year mortgage, then you need to consider whether or not the debt you are putting on your refinance needs that long to be paid off. Of course, a mortgage will carry a significantly lower interest rate than a credit card but there is a chance you could secure other financing to pay off that credit card well in advance of the terms of a mortgage. The closing fees and other charges associated with a mortgage are dependant on the total cost of your mortgage, and if you add more cost to that mortgage then you will pay more fees at closing. If you roll your closing fees into the refinance, then you just added to your 15 or 30 monthly payment as well.

“…A refinance is a great option for paying off long term debt. But if you have other kinds of debt besides long term loans that you are paying off, then you may want to sit down with a debt consolidation company and discuss all of your options. It may turn out that a refinance is not your best choice after all, and a debt consolidation professional will help you run through you whole list of choices to help you decide on which one is the best. A full term mortgage is a very long commitment, so be sure that you understand what you are signing up for before you put your signature on the dotted line…” added H. Milla.

Further information about trusted and reputable companies for debt consolidation by visiting; http://www.BestDebtConsolidationServices.net

Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.

October 10, 2017

Using Tax Accounting Software to Produce Self Employed Tax Returns

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

Terry Cartwright designs tax accounting software for self employed accounts and company accounts that produce automated tax returns. Simple automated tax software designed to produce accounting solutions and self assessment tax returns for business clients, accountants and bookkeeping services.

December 10, 2016

Kids Using Parents Credit Cards Online

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

CPP, the online identity protection company have warned parents that they might be at risk of identity fraud due to their children secretly using their credit cards for online purchases, subscriptions and games.

Regulated by the Financial Services Authority, CPP carried out an extensive survey which shockingly revealed that around 23 per cent of children have secretly used their parents credit card online.

In addition, they found that a massive 77 per cent of children in the UK use the internet completely unsupervised.

This can put the parent at huge risk, as younger people are often not aware or are at least less aware of the risks of identity fraud.

According to the research, children are much more likely to post credit card details recklessly and take much less persuasion to part with vital personal information.

If they are using their parents credit cards this can mean that the sensitive personal ID authentication details of their parents are left vulnerable to phishing and identity fraud attacks.

CPP and the Financial Services Authority urge parents to keep a close eye on their child’s internet use and when they give permission for their children to use their credit card online to ensure that It is being used on a trustworthy site.

Michael Lynch, CPP fraud expert commented: “They are putting up credit card details and home address details on the internet which can be used by fraudsters, whether it’s through phishing attacks to either sell the data or commit fraud using their credit card details.”

In order to combat growing online fraud, parents must familiarise themselves with safe internet use and ensure that their children are not revealing their personal details to anyone unnecessarily online.

While it is clear that it is not possible to watch children 24/7, it is possible to keep a close eye on your credit card and only allow it to be used on reputable sites.

That is not to say that online purchasing should be ruled out, as it is often cheaper, more convenient and offers more choice than the high street, it is simply wise to do your research before making or allowing others to make an a online purchase.

Experts advise that if a website is secure and it is safe to enter your credit card details, the web address should start with https:// instead of http://. The ‘S’ indicates that the site is secure and your details will be safe.

Citi Group has this advice for safe online credit card use:

1. Check for your browser’s symbol, such as a padlock or key, indicating you’re on a secure site
2. Look for privacy statements on each merchant website to learn what information is being collected and how it will be used
3. Review Citigroup’s Information on Privacy as an excellent example
4. Get referrals from your friends on their favorite shopping websites
5. Check with your state/local consumer agencies or the Better Business Bureau before buying if you don’t know the merchant
6. Look for customer feedback on the merchant’s website
7. Use secure sites that encrypt, or scramble, all information until the receiver unscrambles it. For example, we use 128-bit encryption for security purposes

August 21, 2016

Benefits Of Using An Independent Whole Of Market Mortgage Broker

Filed under: Mortgage — Tags: , , , , , , — admin @ 12:50 am

Copyright (c) 2010 Steve Wentworth

Introduction?The purpose of this article is to explain the benefits of seeking independent mortgage advice when looking to either purchase or remortgage a property.

So what are the different types of mortgage advice and where would you expect to find them? Non-advice – This type of mortgage broker offers the least consumer protection, they will simply ask a set of questions to narrow the customers requirements and thus filtering the number of mortgages available. They then present the customer with a small list of possible mortgages for the consumer to choose one appropriate. The consumer protection here is based on the script of questions the broker asks the script is a process determined prior to the consumer appointment and is impersonal therefore specific personal cirmcumstances are likely not to be assessed. It also assumes that the customers answers are factually correct and the final choice is made by the consumer (some further knowledge may be required by the consumer). Although no advice is offered these brokers do handle the arranging of the mortgage on the consumers behalf, and therefore dealing with all the chasing and removing stress from the process. Where would you expect non-advised brokers to exist? Well believe it or not many non-advised brokers are within the high street banks and building societies.

Advice-onlyThis type of services is where a mortgage adviser uses their knowledge and skills to provide the most suitable mortgage to suit a consumers personal circumstances. This will involve a full fact finding interview, affordability accessment, discussion on the consumers future plans and asperations, all of which provide key facts on a consumers requirements, and therefore a means for the adviser to identify suitable products. The adviser will not however, handle the arranging of the mortgage, and therefore the consumer would need to deal directly with the bank or buildings society to arrange the mortgage. These advisers generally do not exist alone this is often a service provided through the ‘Independent mortgage adviser’ type below. And often comes about when the most suitable mortgage is only offered direct through high street (i.e. not through mortgage advisers/brokers). The adviser would therefore offer an advice-only option to the client and often charge a fee for this service. Although the client must deal directly with the bank or building society they mortgage adviser often provides support to the consumer.

Tied mortgage advisersThese come in two forms ‘only offering mortgages from one lender or its own mortgages’ or multi-tied ‘only offer mortgages from a limited number of lenders’. This clearly limits the number of mortgage products available to match a consumers personal circumstances and in a lot of cases they may not be able to offer the most suitable mortgage product and therefore advice may result in the best mortgage they can offer, this could be woefully inadequate. Again found in high street branches. A consumer calls into their local building society branch and their in house mortgage adviser can only offer mortgage products from that building society. Consumer choice and mortgage product suitability are considerably reduced. Whats more high street branches often offer low mortgage rates/fees as a loss leader (marketing term to bring in business) and then try to sell their tied insurance products which are often also woefully inadequate and expensive.

Whole of market adviceBy far the best coverage these advisers can offer mortgages from all the UK mortgage lenders (having mortgage adviser/broker routes). The vast amount of mortgages available through these advisers is likely to cover the individual circumstances of a consumer. Whole of market mortgage advisers offer advice through conducting a full fact finding interview, affordability accessment, discussion on the consumers future plans and asperations and then can arrange the mortgage through the lender thus aleviating the stress which comes when purchasing a house. These advisers are usually separate firms often found in the yellow pages or through the internet they are sometimes linked to estate agents on an initial meeting mortgage advisers should declare if they are whole of market and this will be disclosed in the ‘Initial Disclosure Document’ they provide you. If you are not sure if an adviser is whole of market then ask them.

Independent whole of market mortgage adviserFinally this type of adviser has the ultimate scope of the mortgage market, not only can they offer mortgage advice from the whole of market (lenders with mortgage adviser routes) but can also offer an advice only process if they identify a high street direct deal is more suitable. The ‘Independent’ statement indicates that the adviser must offer the consumer a fee based service if required. This means that rather than the adviser taking commission as payment for the mortgage advice, the consumer can opt for paying a broker fee and any commission rebated to the consumer. The benefit of the fee based service is the consumer knows the adviser will not be swayed by higher commssion mortgage products when selected a suitable mortgage, however these days this is highly unlikely as the mortgage advice must prove to the regulator why a particular mortgage is most suitable. Some occassions where the commission is quite considerable this would mean the consumer could receive more money than the broker fee paid and therefore would be better of taking the fee based approach. Like the author of this document Independent mortgage advisers are usually separate firms often found on the high street, yellow pages or through the internet they are sometimes linked to estate agents. On an initial meeting an independent mortgage adviser would declare that they are whole of market and that they offer a fee based approach if required and this will be disclosed in the ‘Initial Disclosure Document’ they provide you. If you are not sure if an adviser is independent and/or whole of market then ask them.

What do independent whole of market mortgage advisers do for consumers:

1.Treat customers fairly.2.Support and inform the consumer from initial enquiry right through to completion and beyond.3.Take time to gain detailed knowledge of the consumers personal circumstances and aspirations.4.Provide impartial, expert, external scrutiny of mortgage products.5.Identify when the consumers personal circumstances do not meet the criteria of specific lenders.6.Can identify the most likely lender in unusual situations, thus avoiding the need for multiple credit checks.7.Assist in calculating affordability, ensuring that consumers can afford their mortgage and protection commitments, along with their other commitments.8.Provide useful advice on the housing market in general such as dealing with price negotiation, leasehold issues etc.9.Expert guidance in complex scenarios (shared ownership/shared equity, right-to-buy, adverse credit).10.Protect the consumer from corporate sales tactics used by some lenders and estate agency chains.11.Provide a fully personalised service tailored to individuals needs, not a faceless flowchart “one size suits all” (non-advised) service.12.Understanding the urgency of some transactions and “go the extra mile” to meet deadlines.13.Advise consumers not to do things that may not be in their long-term interest.14.Work for the consumer – estate agents, lenders and to some degree, solicitors have a different agenda.15.Explain the features and benefits of different mortgage and protection options.16.Choose the best products, from multiple providers for each aspect of a consumers mortgage and protection needs, and thus increasing their ability to afford their commitments, even when things go wrong.17.Select the best protection providers for consumers with health issues or unusual insurance histories.18.Highlight unusual exclusions on protection and general insurance products.19.Perform data input/entry for the consumer, minimising errors, omissions and non-disclosure.20.Ensure the provision of appropriate and customized protection products.21.Collate, verify and provide documentation for the lender to minimise delays in processing, speeding up the process for the consumer.22.Liaise with other parties in the transaction and ensure that consumers are kept up to date with progress and developments.23.Use past knowledge and awareness to predict problems and resolve them in advance.24.Act as advocate for the consumer during the application process.25.Explain the mortgage offer and assist in fulfilling the offer conditions.26.Quickly find an alternative lender if declined without wasting the consumers time.27.Free to act based on conscience and fairness as not usually directly targeted on specific areas.28.Take responsibility for the advice and recommendation provided, thus increasing consumer protection.29.Can arrange property insurance in ample time to be ready for exchange of contracts on purchases.30.Can find appropriate lenders and insurers for unusual properties ( thatched roof, flying freehold flats etc).31.Protect consumers from aggressive third-party marketing.32.Protect consumers data and privacy.33.Provide general support during what is acknowledged to be one of the most stressful events in life.34.Often personally available outside of normal working hours to answer questions or resolve issues.35.Provide a knowledgeable “Ally” in what can be a very worrying process.36.Encourage competition and innovation from lenders.37.Care about consumers and provide an ongoing long-term service, often several generations of the same family.

June 5, 2016

Using a Consolidation Loan to Better Your Credit

Filed under: Loan — Tags: , , , , — admin @ 12:48 am

A consolidation loan is a way to pay off all your debts and roll them into one payment. With a consolidation loan a person is immediately satisfying their outstanding debts and starting a new account on their credit. It can be a very good option for someone who is buried in debt and having problems. A consolidation loan can save a person form falling into the bad credit trap.
A consolidation loan is specifically for the purpose of consolidating debts. What happens is a person figures out the total amount of their debts, gets the consolidation loan, pays off their debts and then has only the one loan payment to make each month. It seems quite simply, but there are some considerations to make when getting a consolidation loan.
If a person is starting to have credit problems due to their debt they may find it is hard to get a consolidation loan. They may end up having only offers for high interest loans. It is important for a person to consider their options. One of the biggest things is they need to decide if they need a smaller monthly payment or if they want to pay less overall.
If a person is having financial problems currently then a smaller monthly payment is probably the best option. In that case a consolidation loan is perfect since a consolidation loan will likely cost less per month then paying each debt separately.
If a person is not having financial problems and is concerned about the amount they will end up paying overall then a consolidation loan is probably not going to be the best bet unless they can get a good interest rate. This is because the consolidation loan will likely carry more interest charges then each debt separately.
It also matters about the type of debt. Credit cards carry very high interest rates, so consolidation loans for credit card debt is perfect. The consolidation loan will save a person a lot of money in interest charges. Other debts, though, may have way lower interest rates then a consolidation loan, so it is really something to consider before getting the loan.
A consolidation loan is something that should be considered carefully. It is important that a person decides if they are gong to consolidate all debt or not. They also must look at how a consolidation loan will affect them financially. Taking out a consolidation loan can be a great thing if a person can afford it and it makes sense for their situation. However, if a person jumps into a consolidation loan without planning they may end up in more financial problems then they were before the loan.
A consolidation loan can be a life saver if used correctly. It is really a matter of understanding how the loan works and if it is a good choice for a particular situation. A consolidation loan may just be the answer to your financial problems or it could be a bad choice. Only you can decide for sure.

May 26, 2016

Is Using A Debt Consolidation Agency A Good Way To Repair Credit Score?

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

When looking into the benefits of a debt consolidation loan, you must understand exactly what a consolidation loan is for, along with that it can do for you. Once you have grasped an idea of the entire process of a consolidation loan you will know whether it will help you in your specific situation cure credit score problems while fixing your debt. What is debt consolidation? Debt consolidation is a plan provided by a company to its clients which enables these clients to take their severely overdue, building up together, multiple debts and turn them into one single easy to manage debt with lower monthly payments. Making the clients more able to take care of themselves and their families more efficiently then before they took out the consolidation loan. How does a consolidation work? A consolidation works by a client of a company receiving a loan from the consolidation company to pay off all overdue debts. This said loan is typically not handed straight over to the person taking out the loan but the company usually pays off all of these debts for the client, and sometimes is also able to get the client a discount on the total debt being the debt is being paid off in full. After all debts are paid the consolidation company makes a time payment agreement between them and the client, the time payment agreement will be customized in consideration with how much was borrowed, what the clients monthly income is, and required living expenses. This way the monthly bill to be paid will not be unaffordable enough as to where the client goes back into debt. Is a debt consolidation agency able to repair a client’s credit score? The answer to this question depends upon the client’s ability to pay back the loan given by the consolidation company, for example if a client makes all payments on time and pays off the debt without error the credit score will improve. But if the client has other debts not being paid, or payments being missed on the consolidation loan the credit will decrease. So really yes consolidation can fix your credit, but only if you work to that goal.

When looking into the benefits of a debt consolidation loan, you must understand exactly what a consolidation loan is for, along with that it can do for you.

Once you have grasped an idea of the entire process of a consolidation loan you will know whether it will help you in your specific situation cure credit score problems while fixing your debt.

What is debt consolidation?

Paula de la Torre Editor of the “Best Debt Consolidation Companies” website — http://www.BestDebtConsolidationCompanies.net — pointed out;

“… Debt consolidation is a plan provided by a company to its clients which enables these clients to take their severely overdue, building up together, multiple debts and turn them into one single easy to manage debt with lower monthly payments. Making the clients more able to take care of themselves and their families more efficiently then before they took out the consolidation loan…”

How does a consolidation work?

A consolidation works by a client of a company receiving a loan from the consolidation company to pay off all overdue debts. This said loan is typically not handed straight over to the person taking out the loan but the company usually pays off all of these debts for the client, and sometimes is also able to get the client a discount on the total debt being the debt is being paid off in full.

“… After all debts are paid the consolidation company makes a time payment agreement between them and the client, the time payment agreement will be customized in consideration with how much was borrowed, what the clients monthly income is, and required living expenses. This way the monthly bill to be paid will not be unaffordable enough as to where the client goes back into debt…” P. de la Torre added.

Is a debt consolidation agency able to repair a client’s credit score?

The answer to this question depends upon the client’s ability to pay back the loan given by the consolidation company, for example if a client makes all payments on time and pays off the debt without error the credit score will improve. But if the client has other debts not being paid, or payments being missed on the consolidation loan the credit will decrease.

So really yes consolidation can fix your credit, but only if you work to that goal.

Further information about trusted and reputable companies for debt consolidation by visiting; http://www.BestDebtConsolidationCompanies.net

February 18, 2016

If Using A Credit Card Debt Consolidation Company, Does It Affect Your Credit Score?

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

If you choose to take a debt consolidation loan to help get out of debt you may be wondering if it will affect your credit score.

It should not affect it much in the short term. Credit agencies usually look at all of your credit history as a whole and will take note that other accounts were paid off. This is due to the debt consolidation loan. In the big picture, as long as you make your payments on time for a year or two your credit score will ultimately improve.

Hector Milla Editor of the “Credit Card Debt Counseling” website — http://www.CreditCardDebtCounseling.biz – pointed out;

“…The thing to remember though is to handle the accounts your pay off properly. You may decide to close the credit card accounts so you are not tempted to use the increased credit made available by the debt consolidation loan. Do not be too quick to do this because closing your account does not close the credit history on them…”

Also by closing your accounts your lower your available credit which raises the percentage of available credit that you are using at the present moment. This can go against you because a credit agency may very well feel that you are at you limit of available credit and consider this a dangerous warning sign of a bad risk.

“…If you do decide to close accounts anyway because you just do not trust yourself close the newer accounts over the ones you have had for years and years. If you have long-standing accounts on the report, it establishes a long credit history and that helps your credit score. Make sure your write a letter to the creditor if you decide to close and account that it is being closed by your request and it should be put on your credit report that way. Make sure to check your credit report and see that it is written correctly afterwards…” added H. Milla.

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

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