About Financials

My Dog Got an Operation

2011-05-15T10:33:00.000-07:00

So my dog swallowed a tennis ball and a sock this week and it was a real scare. Usually he just throws up whatever he has decided to swallow whole and is NOT food. This time he just started acting really weird.

We knew he swallowed the tennis ball which he had already chomped up pretty good, and we were just waiting for something bad to happen. We notice that he wasn't eating anything and his energy was really low - first sign of a dog being sick I guess. So we rushed him off to the vet and they did an xray on him. Sure enough he was going to need operation to get everything out of his stomach.

It cost me $1300 to get the operation completed, and allot of worry to boot. I had $300 saved but I had to borrow that rest of the cash online ($1000) the rates were pretty much the same as all these companies, but whatever....I had to get Coda fixed.

Coda is a 1 year old Golden retriever and the love of my life. My girlfriend thinks he means more to me than her! Sometimes I wonder. So know I have to keep my socks off the floor, underwear off the floor and no tennis balls for him unless somebody is their to supervise play time.

I was my own fault that I didn't watch him closer when he was lying around the backyard getting himself into some kind of mischief.

These Borrowers are Hurting Bad!!!

2011-02-12T09:11:00.000-08:00

So read these wonderful diatribes on these hurtin' borrowers who are in some cases up to their necks in high interest debt. They have credit ratings that would make Greece blush. Never seen so many sorry-assed consumers with not even a clue on how to NOT get in debt.

This first bunch are real winners! I mean I don't want to be a total prick about it, but COME ON PEOPLE! Stop spending and start earning, and you can turn things around fairly quickly. Just don't be so lazy. Get out there and make some changes that will help you get out of these debt holes.

These are the first rubes who need consolidating.

And then off to Brighton which is a town in NY - then off to Cheektowaga for 60K - ouch! This kind of personal debt is crushing when you have a minimum wage job. Man - what a mess don't you think.

One of these is really funny. This debtor thinks that just because he is a Christian there will be some SPECIAL deal on a consolidation loan from a bank that only lends money to Christians - give me a hairy break!

And then finally! Note this debtor in Bay Shore needing a loan for 20,000. Another one in Elba NY for 5 grand. Another for a debtor who owes allot of money one multiple credit cards - what a stupid thing to do.

So there you have it. Some really bad cases of bad debt and financial holes that have to be dug out of. These applicant and borrowers are going to have to make some serious changes in their lifestyle if they ever want to get themselves out of these deep holes of debt they got themselves into.

After all, these are our brothers and sisters I am talking about, and I should be nicer, but if frustrates me when I see so many people who have f*cked themselves up with debt.

Silly Boys Gambling in Chicago

2010-09-29T14:21:00.000-07:00

This is a pretty weird tale of our misadventures in Illinois. You might enjoy this little tale. Some funny stuff in here too that you might get a kick out of. This story is trip from the South to the North of Illinois for a gambling trip.

My buddy Alastair and I took a trip from our hometown in Zeigler to the Windy City last weekend, and we got ourselves in some trouble. We drove through Decatur and Champaign on our way there, and we stopped to see some friends in both places. We invited them to come with us and do some gambling at the Casino, but they declined.

Our friends had the right idea for sure, but we love gambling (well we did then - read on), and we just had to play some craps, roulette and blackjack.

After we left our buddies, we had some car trouble near Odell when my radiator decided to retire. Of course we were very disappointed to have our trip go off the rails like that, and we can all relate with car trouble right, but regardless, we were really excited to be out on the road and away from work.

I should point out, that this short story is a cautionary one, and hopefully others can learn from our mistakes - not that most people ever really change their behaviour because of someone else's mistakes.

So there we were - stuck in Odell and forced to spend half of our play money on repairs. It was a bad start to a trip we had been talking about taking for over six months. Between Alastair and I, we had a total of three thousand dollars when we cashed our paychecks in Metropolis, IL, and by the time we finished paying for the radiator, labor, our bar tab, food, and hotel, we were down to just over two thousand dollars.

When we finally arrived at the Casino we weren't exactly as excited as we had anticipated we would be when we were dreaming up the trip in the first place. Furthermore, we were very tired from driving, and we knew we had already spent close to one thousand dollars. Almost a third of our seed money.

Both of us needed to freshen up before we went to the Casino, so we just grabbed our keys for the room and went upstairs to crash. We needed a shower and a chance to clean up before we hit the tables.

When we came back down the elevator we were really excited to get on the tables. Alastair went to a roulette table, and I went to a blackjack table. It seemed that whenever I got lucky and got dealt two face cards, the dealer would get blackjack. Whenever I split two hands, sometimes 3 or 4 hands, the dealer would get blackjack, 21, or 20 - I thought my bad luck had no boundaries. I thought the dealer's good luck had no boundaries She would smirk when she beat me, and she would frown when I beat her!!

By the end of the day Alastair and I had lost ALL of our money gambling, and Alastair had even gone to the ATM and withdrew another five hundred dollars, leaving us feeling like real losers. Even though we both talked about how it was only money, deep inside we were both feeling sick about it.Talk about your instant deflation of self-esteem.

We went back to our hotel room, drank a bottle of Vodka, and rarely spoke - except to remind ourselves that we had no gas in the tank of the car.

We finally fell asleep at around four in the morning and when we woke up we were hung over, and broke.

We sat in the car for a minute while Mark scrummaged around looking for a cigarette and a lighter.

Just when I was about to say something, Mark came across his pay stub in the glove box. He suggested we should go one of those payday loans so we can get some money for food, and gas for the car (I shuddered at the thought of getting money that way, but we were out of options).

It was obviously the only recourse we had left at this point, so we looked in a nearby phone booth directory to find out where all the payday loan shops were in Rockford. We found one that was on our way back south, and looked it up on the map. Preferably we needed a lender that advertised five hundred dollar loans in just minutes.

So we headed down the highway running on fumes stopping to share a Mcdonalds Egg McMuffin with our last two dollars.

We both watched the gas gauge closely as we drove, praying we would have enough fuel to get us to the loan shop and praying we would have enough fuel to get us to a gas station after we picked up the cash. We were in pretty pathetic shape at the time - you know - young and stupid. We ended up getting completely lost for awhile, but eventually found a town, and the street that the payday loan shops were on, and couldn't believe how many places there were to get fast cash from in Rockford. It was crazy how many there were. When we went to work the next Monday all of our buddies asked us how we did up North in the Casino. We told the truth, which made us the butt of the jokes for the entire week. The whole experience was humiliating and left me feeling like a total fool. Furthermore, we were really broke.

I still think about all of the things we could have used that three thousand dollars for.

If you enjoy hearing about crazy adventures of youth and enthusiasm, then bookmark this page so you can be sure to read the entire story.

Soon after we left there my vehicle started making some wierd noises near Odell when my radiator broke down. Of course we were very disappointed to have our trip go off the rails like that, and we can all relate with car trouble right, but regardless, it was what it was, or it is what it is.

I should point out, that this short story is a cautionary one, and shows how gambling is not worth your time - wouldn't be cool if just one person learned the easy way instead of the hard way perhaps the best way to learn is to fall down. It was a set back, but we had already signed on for the full meal deal.

Between Alastair and I, we thought we had much more than enough money for gambling, hotel, food, and drinks in Metropolis, IL, and when the smoke finally cleared we paid off the mechanics for the radiator, labor, our bar tab, food, and hotel, we were down to just over 2000 dollars. By the time we got to the Casino we we couldn't really be as thrilled as we imagined we would be when we were dreaming up the trip at the intial planning phase. Furthermore, we were dead tired from all the long drive, and we discussed the fact that the repairs had cost us close to 1000 dollars.

Both of us needed to freshen up before we even considered heading to the Casino, so we boogied on up to the suite and mellowed out. We needed a shower and a chance to clean up before we burned up the craps tables.

Whenever I had a good hand and got dealt two face cards, the dealer pulled a 21. If I ever to the risk of splitting my cards, the dealer got lucky, 21, or 20. I was totally bemused by the my dealer's good cards She would giggle to herself when she squeezed me out, and she was visibily annoyed when I managed to finally win a hand! It was clear that the house had a plan to empty my wallet!

By the time we were spent Alastair and I had such bad luck we lost everything, leaving us with a real sinking sensation. It would have been sad to be a fly on the wall in the car listening to us pretend that it didn't bother us, at the core of our beings we were feeling really stupid.If there is ever a time to feel like a goof ball, this is it.

We left and slithered off to our rented room, and didn't say a single word to each other - with the exception of the odd fart or burb. We dozed off at 2 in the morning and when we woke up we were hung over, and broke. I was clear to us that we must now look like those typical gamblers - there were some other saps walking through the Casino trying to pretend they didn't just recently lose their shirts with the same demeanor.

My whole point of concern was getting to a gas station with a few bucks to put in the tank for our final push back to the old grind.

I almost said something to him, but before I did, Mark discovered his employer pay stub in the console of the car. He tried to convince me we should look into getting a small loan from one of those cash advance branch offices which was our best chance of quickly getting back on the road towards home (I was dead set against such a stupid idea, but we were out of options). Unfortunately we had to take this course of action, so we looked in a nearby phone booth directory to find out where all the loan shark advance establishments were in Rockford. We found one that was on our way back south, and looked it up on the map. I wanted to use a company that was very common. We needed a company that claimed to provide $500 loans in just minutes.

We then continued on with the little gas we had left stopping to share a Mcdonalds Egg McMuffin with our last two dollars. We really appeared to be exactly what we were - you know - young and stupid.

We were so busy yapping that we got lost, but we still had the engine running, and we found where the high cost loan branches were on, and couldn't believe how many places there were to get fast cash from in Rockford. We we both trying to decide where the lender was.

The following Monday after we got home all of our buddies asked us how we did up North in the Casino. We told the truth, which made us the butt of the jokes for the entire week. Furthermore, we were really broke. End of story - silly boys.

Texas Payday Loans

2010-08-31T21:17:00.000-07:00

A customer can easily get a bad credit payday loan for numerous reasons. If someone is short on funds to spend bills for that current calendar month or if she has suffered surprise, but essential expenditure, that person almost certainly will get a legal contract speedily. Folks have weak money histories for assorted reasons, which includes divorce proceedings, a foreclosed property, or repossession. Some individuals have favourable credit histories, nevertheless they basically desire help paying off a holiday, a property improvement undertaking, or meeting payment dates for billing accounts in order to avoid additional fees or overdraft account fees.

It can be easy and effortless to get a fast loan. First, the borrower isn't going to really have to provide assets, say for example a residence or other substantial asset, to obtain or ensure the note. Nonetheless, as a result of the increased risk the financial institution is undertaking with poor credit payday advances, the customer will quickly realize that these loans have bigger interest levels and tighter regulations compared to those for people with excellent FICO scores or for deals making use of equity. A single vital aspect of obtaining these types of notes could be that the all payments have to be made punctually. If the customer defaults on his bad credit pay day loan, he'll be liable for the expense of the liability plus the court charges the financial institution spends in an effort to recover the particular loan amount.

Low credit score payday advances can be quite a economic serious life saver whenever you are in a crisis - when you, yourself are running a tad short of funds anywhere between paydays. If the potential customer is known for a less that ideal credit history for any reason, with the exception of an in-process individual bankruptcy, she may still be entitled to a binding agreement. The key part of obtaining these notes is for the buyer to carefully look into the numerous organizations supplying low credit score payday advances and pick a legitimate company.

Some Texas Payday loan resources.

Kubota Machinery For Sale Online

2009-12-10T16:09:00.001-08:00

Kubota have had the compact range of equipment sewn up for years now with many a new kid on the block trying to steal a march.

There are a number of products that maybe, just maybe, are gaining traction but for me Kubota are still the number one.

I purchased the three cylinder, diesel Kubota B7001 compact second hand and I have to say, just like the ones we hired in, it does everything it says on the tin.

I have just rotovated an area of ground that has been used as a infill for a while so it had it's fair share of stone, brick, some plastic and wood yet the Kubota handled it with ease.

Not only did it rotovate in low third gear without power loss but it managed to deal with a very steep incline (as seen in the picture), although I did have to use the four wheel drive and differential lock to keep good traction.

Kubota 1100s
Kubota 4030s
Kubota 500 Rtvs
Kubota Accessories
Kubota B2320 Tractors
Kubota B2710s
Kubota B4672a Backhoes
Kubota B6000es
Kubota B7000 Tractors
Kubota B7510 Hsds
Kubota B8200s
Kubota Bh90s
Kubota Bx Cabs
Kubota Bx1800s
Kubota Bx2230 Tractors
Kubota Bx2660 Tractors
Kubota D722s
Kubota Diesel Generators
Kubota Engines
Kubota Front Ptos
Kubota G2460s
Kubota Generators
Kubota L225s
Kubota L245dt Tractors
Kubota L2850s
Kubota L3130s
Kubota L3940 Tractors
Kubota L4400s
Kubota Lawn Mowers
Kubota Light Brackets
Kubota M5700s
Kubota Mini Excavators
Kubota Radiators
Kubota Rtv Heaters
Kubota Seat Armrests
Kubota Super Udts
Kubota T1880s
Kubota Tractor Parts
Kubota M Series Tractors
Kubota V2203 Diesel Engines
Kubota Zd331s
Used Kubota Lawn Mowers
Used Kubota Tractors

Whilst the tractor unit itself is no where near new - I bought it from a local dealer but it has been imported from China - it is excellent condition and (touch wood) has several good years life left in it.

On the back I have an Agric ALJ35 98cm wide rotovator which makes easy work of the firm soil and chops it up finely.

A little note of interest if you are planning to hire in a tractor/rotovator combination to prepare a new lawn, clean up a vegetable patch or prepare some newly levelled top soil.

Use low first gear to chop up the ground. This will help to create a workable top to start with. After you have prepared the top surface, changed to third low gear. The extra speed will allow the unit to act like a leveller-grading machine.

MSN

2009-02-09T11:31:00.001-08:00

Msn Spaces experimental page for Carol finance blog.

Christian Loans For Christian People

2009-02-05T20:23:00.000-08:00

There are millions of Christian families out there who try to get all of their services and products from Christian businesses and other people from their own congregation if you want to put it in local terms. If you are one of the millions of Americans who are in need of a Christian loan then I suggest that you start by looking online. Even if you don't get your loan approved online at least you will have a better idea and a better understanding of the terms of your personal financing product work and how they play out or the duration of your payment periods.

Whether or not you're a true Christian, or a half-baked Christian, it really will much matter because you are going to be dealing with the same kind of interest rates (APR), and everybody else in America who needs alone for debt consolidation for four a car purchase or for a home mortgage purchase. I suppose it is a really good English but what you do I'm tired.

PPC Management Companies

2009-01-17T14:10:00.003-08:00

Mark here Karen;

First of all I like the idea of using this for a posting board when our email is on the fritz. Is there a way to make these posts private?

Quick note to us - look into outsourcing our pay per click campaign management with Bonavista Web.

See article I found today on PPC management companies Betty. Please read this through and let me know what you think of these rates.

Bonavista Web
PPC Management Services
Calgary, Alberta, Canada
T2J ON9
PPC Management Rates in USD
403 648 3516

Mark: looks good and I signed us up for a trial period. Just called them at 403 648 3516 (Calgary) Tell you how the campaign goes in a couple of weeks OK. I'll leave a note here.

Ohio Loans Florida Loans California and Texas Personal Financing

2008-11-21T23:44:00.001-08:00

As well we have a Texas loans web site at TexasLoanOptions.com. Finally we have a California loans site at CaliforniaLoanFind.com. All funding and lending is done on a scouring basis meaning the try and find loans for their visitors.

Ohio loans web site is here at OhioLoanFind.com, and a new Florida loan web site is here at FloridaLoanFind.com. All of these personal financing sites are related to loans and consumer money issues. All of them are new, and all of them for making money.

Personal loan in for Ohio Florida Texas and California. This is a list of loan web sites for these states. So 4 of the biggest states and most populated states in the Union are Ohio, Florida, Texas, and California. Big populations and lots of personal loans need approving.

Atv Loans

2008-01-07T05:15:00.001-08:00

Trying to find financing for something simple like an ATV loan can be a funny experience. As folks look to buy a new ATV (all terrain vehicle) they may be looking for a line of credit from their local bank, or perhaps an online ATV loan that is secured or not secured.

Either way they’re looking at providing some kind of collateral.

Presettlement Lawsuit Loans

2007-12-30T08:44:00.001-08:00

Presettlement loans are not as easily procurable these days as they once were. You have to have a pretty good case before you will be approved for a lawsuit loan.

Watstat Site Like Wikipedia

2007-12-02T16:32:00.001-08:00

You can see there are allot of other webmasters who are trying to build their own Wiki sites these days. My favorite Wiki platform is DokuWiki, and there are others using exactly the same software as Wikipedia.

A good example is this site, called Watstat. They use the Wikipedia software platform for their site. Interesting to me anyway.

I think Watstat is supposed to mean “What’s That?” Hmmm…

WFS Financial Hot Lender

2007-09-11T10:19:00.001-07:00

We’ve been seeing allot of information these days for WF Financial products and services. Becoming very popular due to their customer service quality. Here is a little blurb on their corporate mission.

Wachovia Dealer Services, Inc., the sixth-largest auto finance company in the nation, is a subsidiary of Wachovia Bank, N.A. In addition, Wachovia Dealer Services is the number one used car lender in the nation. With 48 regional offices serving 46 states across the country, we provide a broad credit spectrum of lending to the auto, RV and marine industries. Commercial, real estate and floorplan financing and an array of banking services are available to dealers through Wachovia Bank. We also offer competitive refinancing programs directly to consumers.

Wachovia Dealer Services has established relationships with over 14,000 auto, RV and marine dealers, a consumer loan portfolio of $22.8 billion and a commercial loan portfolio of $4.1 billion through Wachovia Bank.

At Wachovia Dealer Services we are committed to exceptional service. If you have any questions, please call us at 800-289-8004. Personal service is available to you Monday through Friday, from 5 a.m. to 7 p.m. PT.

You can use the phone number for contact. It’s the latest number we’ve been able to find as of this writing.

Guaranteed Student Loans in Montana

2007-08-09T11:39:00.001-07:00

I’ve been hearing about allot of students looking for a Montana Guaranteed Student Loan Program. Well there has been some types of programs available for students who are in dire need of some funding, but a guarantee is hard to come by.

Why this is such a deal in Montana I don’t know, but what I do know is there is a better option for students looking for a break. They need to look further than their own borders though.

Here is a link to a site that provides guarantees student loans in Montana and elsewhere – in other words, if you don’t find the financing you need, you get your money back for their service. It doesn’t cost allot anyway, but at least you can check it out for yourself.

All the best to ya!

Discount Motorcycle Insurance

2007-07-22T20:42:00.001-07:00

By insuring your motorcycle with some insurance companies, you may be eligible for many discounts that could significantly lower your insurance premium payments.

Some insurers will give discounts for experienced riders - for safety, and even a discount when you switch your motorcycle insurance to to their plan. If you're a lucky motorcycle insurance policy-holder, you might be eligible for the following discounts;

10% discount when you renew your motorcycle insurance with said motorcycle insurer

10% discount for completing a motorcycle safety foundation, or military safety course

20% discount if you are a current motorcycle safety foundation instructor

10% discount when you transfer your motorcycle insurance to with said Motorcycle insurer

10% discount if you insure more than one motorcycle

10% discount for mature riders

5% discount on your motorcycle policy if you also insure your car with with said motorcycle insurer

While discounts and low motorcycle insurance prices are a super reason to purchase your motorcycle insurance with these discount insurers, you want to make sure that you get coverage from a partner that has the financial stability to be there when the time comes.

4 Main Ways of Getting Motorcycle Loans

2007-07-15T15:01:00.001-07:00

I. Personal Loans: Many people with bad credit tend to many times go for personal loans. I only recommend this option as a last resort, but I would much rather a bad credit applicant get the credit straight before getting a personal loan. The reason being is personal loans typically have very negative terms for motorcycle buyers and they can sometimes have interest rates in the 30% range. This is not a good situation for a motorcycle buyer.

II. Online Motorcycle Lenders: The nice thing about working with online motorcycle lenders is that you are going directly to the lender and there is no middle man involved with placing you in a loan that may put you in a bad situation. Going directly to the lender for bad credit motorcycle loans is always better in my opinion because the lender does not want to place you in a loan you will default on. On the other hand, going through a middle man you will find the middle man will want to place you in a situation where they will make the most money which could be a very bad loan for you.

III. Local Banks: Sometimes local banks can be an option for finding bad credit motorcycle loans, but typically they are stricter than Credit Unions. So check with your online motorcycle lender or credit union before going to a local bank. But similar to a credit union, local banks probably do not have a ton of their loans in motorcycles so this helps you chances of getting approved sometimes. Many times the less experience a bank has with motorcycle loans the better for you because they can sometimes evaluate bad credit motorcycle loans the same way as a car loan which typically is much more lenient.

IV. Credit Unions: Your local credit union may buy bad credit motorcycle loan more often than the average loan at a dealer because the credit union only has a small percentage of its overall loan portfolio in bad credit motorcycle loans. This allows them to control losses a bit better than a dealer because they have other thinks finance not just motorcycles. So they may approve bad credit motorcycle loans a dealer will not touch.

Small Post on BC (bad credit) Business Financing

2007-07-15T10:32:00.001-07:00

Another small business loans article from financing-usa.com. Enjoy!

Some business loans with bad credit investors will require substantial collateral, others will want to tie up your receivables, others will want to see that your business has superb credit and can prove it can debt service the loan, still others will blanket lien all your business and personal soft-assests.

Due to the fact that these investors will make these higher risk loans, they therefore tend to charge substantially higher interest rates. Even though these lenders will consider making business loans with bad credit they each have their own unique lending criteria.

If your personal credit scores are below 640 you are going to need excellent business credit scores to get approved for business loans. Lenders look at the risk involved in making your loan and that is going to be determined according to your credit history. Markedly individuals with a history of bad credit are more likely to have late h and to default entirely.

Banks won't even think about lending to a person with bad credit, so don't apply there. But there are many institutions that may relate your business loan with bad credit application. Some lenders actually specialize in bad credit loans. These dealers will consider making loans that are sub-standard by most fiscal criteria.

The Sunshine Act

2007-07-11T11:16:00.001-07:00

The “Sunshine Act” for the student loan industry is a welcome act. Below is a little ditty on the act.

Story….

Here is a list of do-s from the Student Loan “Sunshine Act”. This is hopefully good news for the future of the student loan industry.

As follow is the code of conduct – (guideline we hope gets followed)

Each institution would be required to develop and display on its web-site a code of conduct with these provisions:

- Institutions would be prohibited from recommending a lender in exchange for the lender providing material benefits to the institution or its employees.

- Lenders and affiliates would be prohibited from giving any financial benefits (including the chance to purchase stock) to employees with any financial aid responsibility as compensation for consulting services, advisory council service, or otherwise advising lenders.

- Lenders, guarantors, or services would be prohibited from offering gifts to institutional employees-including any gratuity, favor, discount, entertainment, hospitality, loan, or other item valued at more than a nominal amount. Examples are gifts of services, transportation, lodging, or meals.

The term "gift" would not apply to informational material related to loans or financial literacy (e.g., a brochure). Similarly, food, refreshments, training, or informational material that is an integral part of a training session designed to improve the lenders service or contribute to professional development of the institution's employees would be allowed.

Counseling provided to borrowers for exit counseling would also be allowed, provided that an institution's staff controls the counseling and that the counseling doesn't favor a single lender.

Uncle Cecil Vents On Payday Loan Writers

2007-07-08T20:37:00.001-07:00

Look like good old Uncle Cecil is having another grumpy day. He had a little rant on payday loans in this piece below. He is right though. For anyone to say payday loans carry a slightly higher interest rate than other lending products is ludicrous.

It never cease to amaze me how much crap I see online. When it comes to slime lending, it never stops flowing. Below is a classic bit of gibberish written on payday loans.

“The interest rates of no fax payday loans are slightly higher. But borrowers should take the advantage of the prevailing competition fever among the lenders and can spot a marginal rate. So, to get reasonable rate borrowers should collect and compare the quotes offered by different lenders.

No fax payday loans have made the process of withdrawing cash much easier. The cash can be approved within the same day or before the next business day, which ever is possible earlier. The services of no fax payday loans no paper required also makes the approval process fast and free from documentation process. The no fax payday loans provide services round the clock.”

Notice how they make it look like a payday loan is actually a good idea. My favorite line is that faxless payday loans have “slightly higher” interest rates.

How about 300%!!!!

Calm down Uncle Cecil….better go back to poking your pipe with wacky-tabbacky again.

Car Loans - Offline or Online?

2007-07-02T01:01:00.001-07:00

Piece on online car loans from Loanspoke.com

Car finance in America don't have to be from just the local banks anymore. The special advantages of online car finance loans makes it possible to get a loan from a finance company based anywhere in the United States.

The process for car finance loans has changed considerably too. The online lenders can often approve a loan more rapidly than their traditional counterparts. If you are new to the world of online banking or online financing you are not alone. The vast majority of the consuming public still opt for traditional banks and their recent policies and procedures.

The subjective nature of car finance loans ensures that all parameters must be taken in to account before individuals will make a choice on which source to use. (online or offline) Welcome to the new world ladies and gentlemen. It's a brave new world indeed. You must trust the online "secure" information process if you wish to take advantage of web based car finance loans.

If you can find some good web sites that provide information and links on auto loans you can come out ahead. One of the first things I noticed when considering a writing gig with www.loanspoke.com was their suggested bankers.

For example I noticed the bad credit car finance loan provider found on their site is one I have never seen online before. As it turns out there is a reason for that. This car finance company will not do business with just any webmaster. Only sites that have proven to provide sound information will be selected for partnership.

Alaska Student Loans - AlaskaAdvantage

2007-06-22T06:46:00.001-07:00

The state of Alaska has a program that is aimed at providing opportunities for students to take advantage of higher education and find financial loan programs to assist them to pay for tuition, books and living expenses.

Students have a number of ways of taking advantage of the Alaska student loans program. There are education grant programs as well as education loans programs.

Furthermore, there are family and parent loan packages and specialized loans, all provided under the banner of the Alaskadvantage program which has been trademarked by the state of Alaska.

The Alaska grant program is aimed at students who are applying to attend college in areas were there is a skill shortage and the student has a financial need requirement that can be substantiated.

There are qualifying requirements that must be met to be considered for a grant and the student grants can be as much as $2000 per academic year.

The loan programs that the Alaskadvantage program sponsors include Stafford loans, which are federally guaranteed loans. Apparently they are the lowest cost loans that students can obtain and you can obtain the loans in a subsidized and unsubsidized format depending on qualifications that are available on the Alaskadvantage web site.

The entire area of loans and grants is quite complex so there are advisors who can assist the students and their parent to figure out what the best approach is for them. As a first step students looking for grants as well as loans should spend some time becoming familiar with the services, grants and loans that are available.

University of Alaska Shuttle Bus Ride

Student Loans - When it's Time to Consolidate

2007-06-19T10:28:00.001-07:00

Before students (or past students) decide to declare bankruptcy, or start down the path of being chased by collection agencies, they need to consider getting the loans consolidated.

What follows is and article, and a video on student loan consolidation.

You may have campus aid and other federal education grants available so look around for the best possible financial solution before you make a decision regarding a student loan dilemma.

The education we all get when graduating from college is the lesson of debt. Consolidation is essential when your higher education is costing you massive interest payment. Consolidating student loan arrears is paramount if you want a fresh start for the rest of your life.

No matter what you call it; student loan consolidation, college finance consolidation, etc, it is no fun leaving college and dealing with a bad interest rate and starting professional world in the hole.

Many students before you have been in the same boat and the only true way to clear off your consolidated debt is by working it off. Try to search all public information sources and education resources before heading off to the bank.

If you were not lucky enough to afford your college education up front, get a government grant or win a full scholarship then you learn the hard way when it comes to bad debt.

Graduate college with a bachelor of arts and starting learning how to survive in the world of financing and commerce. I suppose a masters in commerce would be the ideal degree to have when it comes to paying of all your student loan debt.

The student aid organizations on campus and off campus can help you during your schooling so that you are prepared for graduation. Take advantage of their aid when you leave school also as they know the finance game down pat.

Hey...ask your professors for advice too. Many professors had student loans themselves, and can give sound financial advice for your future after graduation.

Related Video – Student Financial Advisors – Ad

625 Credit Scores and Bad Credit Financing

2007-06-16T14:28:00.001-07:00

Little ditty on 625 credit scores over at the WOF. This is used by permission.

A credit score of 625 is very common if you have had some credit problems and no bankruptcy. I bet you are wondering how the Fair Isaac algorithm decided you have a credit score of 625.

The Fair Isaac score starts at three hundred and goes as high as nine-hundred. Just be glad you don't have three hundred. Ain't nobody talking to you then!

Anyways...a credit score of 625 would be calculated 10% on the "types of credit you have", 10% on "recent inquiries on your credit report", 15% on the "length of your credit history", 30% on your "outstanding debt", and 35% on your "payment history".

As you can see, if you outsanding debt and your payment history is OK then you are not doing too bad.

Factor 1 = 35% on your payment history.
Factor 2 = 30% on your outstanding debt.
Factor 3 = 15% on the length of your credit history
Factor 4 = 10% on recent inquiries on your credit report.
Factor 5 = 10% on the types of credit you have.

So lets figure out a credit score of 625 shall we. Above I stated the range starts at 300-900. The half way mark between 300 and 900 is 600. So taking in the factors listed above, a credit score of 625 is 25 points above the half way point. You could score a zero, goose egg, nothing, on factors 3-5, but if factors 1 and 2 are good, you are usually golden.

For more direct information on Fair Isaac and their fico scores, or more information about a credit score of 625, you can find all of this information at http://www.fairisaac.com/.

This is a very good website and their is lots of information all to do with credit scores and credit concerns. I have used this site to glean new and updated inforamtion on the subject of "bad credit loans".

If you need a loan and you have bad credit, you can visit Credit.com. They are in the business of providing bad credit applicants the financing they need.

Dan The Mortgage Man – Video Appearance

Q&A On Selling Estate Homes as Executor

2007-06-14T17:51:00.001-07:00

Q: I am concerned about property that is in my parents' trust. Since they both have died, me being the executor, I have had the home on the market in Apple Valley, Calif., since February 2006 with three different real estate companies. I also have dropped the price from $525,000 to $387,000 and still have had no bites. It is a lovely place that needs the right buyers.

Anyway, for tax purposes, how can I find an appraiser who would place a value on the house for December 2005 when my father died so I can claim a loss on the property when it sells, if it ever does? Joanna Ellis.

A: The direct answer to your question is that any qualified appraiser should be able to reconstruct the value of the property in question on the day your last surviving parent died. The Internal Revenue Service suggests you insist on someone who is licensed in California and a member of a professional association.

However, you needn't go to that trouble because there is no loss, at least not yet. Just because you believe the place should have sold for $525,000 and didn't doesn't mean there is a loss. You can't lose something you never had, so as long as the house eventually sells for more than your adjusted basis in the place, you'll have a gain, not a loss.

Your adjusted basis in the property is its value at the time it was inherited by you. Obviously, at this point, you'll need an appraiser to help you figure out what the fair market value was at that time. But even at that, the IRS says that "to claim and prove that you're entitled to a loss because the fair market value dropped dramatically and you sold at a much lower fair market value several months later...... would be difficult."

The eventual sales price could be documented through the closing statement, but you will need a qualified appraisal to establish that the basis (fair market value as of a certain date in time) was greater in order to claim a loss. Again, it needs to be from a qualified appraiser.

The IRS suggests that you read two publications: Sales and Other Dispositions of Assets (Pub.544) and Basis of Assets (Pub. 551). Visit the IRS Web site.

Q: I believe I am a victim of one of those exotic or toxic loans I have been reading about. I hit a period of financial difficulty and refinanced an investment property. It was one of those 1.99% first month and negative amortization loans. I didn't want it. I told the mortgage broker over and over I was uncomfortable with this type of loan, but he kept hammering away at me to take it.

He may have been trying to help me through my financial difficulties. Because he had put so much time and effort into the loan, I felt sorry for him and took the loan against my better judgment. And now of course, I curse him every time I pay the mortgage.

I have never paid less than the interest and try to pay more toward the principal. The interest is tied to the 12-month Treasury bill and goes up every month. I am now paying more than 8.25% interest and it could go up to 10%. I asked and the prepayment penalty is more than $5,500. Is there any way I can get out of this awful thing? My FICO score has been adversely affected because I moved money out of my [home-equity line of credit] at 8.25% interest into a credit card debt of 4.99%. Ann Shonstrom.

A: Sorry, Ann, but there isn't much I can offer. One course of action would be to bite the bullet and keep paying on the note until the prepayment penalty period expires. They usually run from three to five years. Another would be to appeal to the lender to waive the fee in return for refinancing with the company.
Tell the lender your tale of woe, that you were coerced into taking a loan that was foisted upon you by an unscrupulous broker and now are in way over your head and on the autobahn to foreclosure. From what you say, the part about being preyed on by the broker doesn't sound like it's exactly true. But a little exaggeration on your part won't hurt and may help to grease the skids.

Finally, if all else fails, try refinancing with another lender and rolling the prepayment charge with the first lender into the new loan's principal. That way, you'll at least ease the pinch of a lump-sum payment. None of these suggestions are pretty, but that's all I have for you.

Q: I bought a $100,000, one-bedroom, one-bath condo in March of 2006 because I thought real estate prices would keep going up. They plummeted instead. Now I'm stuck making interest-only payments on a condo that I live in, which is located in St Petersburg, Fla.

I have emergency money in the bank that will keep my safe for 12 months. But I don't know if I should hold onto the condo until the market turns around or sell it immediately and take a loss. Every other owner is selling their unit in the same complex, so I have competition. I'm worried this market won' t turn around for another five years. What's your opinion. I need some advice. Thanks, Todd.

A: I'm not totally familiar with the St. Pete market, but from what I hear about Florida in general, the state is terribly overbuilt with condominium apartments that are either sitting unsold and empty or have been sold to investors who now trying to unload them because, like yours, their deals didn't pan out as expected. From what I understand, the market won't turnaround for several years, so you are, indeed, in a pickle.

If you want to sell immediately, which may be your best option, you'll have to cut your price drastically so it is far enough below your competition to draw some attention. Remember, sales are going on all the time, even in overbuilt markets. It just takes the right price to make a deal. If, on the other hand, you want to wait this thing out, you should be prepared to hang tough for a lot longer than 12 months.

You mentioned that you live in your condo, which is not like most investors I know. For the most part, they either rent them or leave them empty in hopes of reselling in a few months after prices have risen to the point where it is worthwhile to sell. But since you are an owner-occupant, your situation is a bit different. If you want to keep the place as your principal residence, you might want to consider refinancing into another loan.

I realize that an interest-only payment on a $100,000 or so mortgage can't be much, but eventually you are going to come face to face with much larger monthly payments. So it may be to your advantage to refi now while you still can and while loan rates are still rather low.

Policies in California Denied by Allstate - Homeowners

2007-06-05T09:31:00.001-07:00

Good post on Allstate insurance corp. stopping homeowner coverage in California. Good picture and video as well.

Allstate announces they won’t be doing anymore homeowner policies in CA. Reason stated is that they see California as a high risk due to mother natures constant ravaging of the Sunshine state.

We’ll see more of these big insurance companies making moves like this. Basically, they want our monthly payments, but they don’t want to paying out anything. No big surprise as they’re, arguably, all scum of the earth.

Story…

Allstate Corporation ,in the US, said this week it would no longer write new homeowner policies in California, marking another reduction in its property coverage nationwide.

Allstate, which insures about 17 million households nationwide, said the move was part of an effort to "manage the risk" of offering property insurance in "catastrophe-prone California".

Allstate said it would continue to insure its existing 900,000 policy holders in California. Those homeowners seeking coverage would be referred to another insurer, Pacific Specialty Insurance Company, which is based in California.

"Allstate is taking responsible action now so that the company will continue to be in a strong position to help protect customers in California and across the country," Robert Barge, the field vice president for Allstate in California, said in a prepared statement.

Insurers playing rough
Steve Poizner, the commissioner of California's Department of Insurance, the state's regulatory body for the insurance industry, issued a statement questioning Allstate's decision.

"While the writing has been on the wall regarding its intent in California, I believe this is a short-sighted business decision," Poizner said. "I expect there will be no shortage of insurance companies who will be more than happy to compete to serve more than 1 million Allstate customers."

Last fall Allstate had proposed a 12.2 percent increase in premiums for its homeowners, its first in over three years, to cover the threat of fires and earthquakes that are known to plague California.

State regulators had questioned the proposed rate hike, pointing at Allstate rivals such as Safeco Corp. (Charts, Fortune 500) and State Farm who had reduced rates in recent years. Mumblings emerged last February that Allstate was considering tightening its policies or refusing new insurers.

One consumer group, the Foundation for Taxpayer and Consumer Rights (FTCR), argued that Allstate's decision to stop writing new policies was part of an effort to coerce the state into allowing the rate increase that is still awaiting a lawmakers' decision.

"If Allstate intended to hang the threat of leaving the state in order to pressure the state to allow them to charge excessive rates, then we say good riddance," said FTCR's Carmen Balber.

The new policy, which will take effect July 1 of this year, is the latest coverage cutback by Allstate. The carrier recently announced it would no longer write new homeowner policies in Florida, Connecticut, Delaware and New Jersey and in certain counties in the Atlantic and Gulf Coast regions.

Other insurers have made similar announcements, including State Farm, which announced earlier this year it would no longer write new homeowner and small business policies in Mississippi following a legal battle over Hurricane Katrina damage claims

[Source CNNMoney.com]

Related Video…Anderson Cooper investigation on Allstate insurance.

Good Q&A On What Kind of Money To Use For Donations

2007-06-04T20:07:00.001-07:00

I like this Q&A on charitable donations. Found on Cecil Loans, but originally on the Kip. Like what Cecil did with the video and pics..

Question: Which is better -- donate stock to a charity or donate the proceeds from selling the stock?

Answer:It depends on whether you've gained or lost money on the investment.

If the stock has increased in value since you bought it, then you'll be better off donating it to charity instead of selling it off. That way, you'll avoid the capital-gains taxes on the profit. Say you bought 100 shares of a stock at $10 and it's now worth $40 per share. If you give the stock to charity, you won't have to pay the capital-gains taxes on the $3,000 in profit. If you held the stock for more than a year and are in the 15% long-term capital gains tax bracket, that move will save you $450 in taxes, which you'd owe if you sold off the stock first. And you will still be able to deduct the stock's current market value -- $4,000 – as a charitable contribution on your taxes if you itemize, like you would whether you gave stock or cash.

If the stock has decreased in value, though, it's better to cash it in first so you can deduct the loss. If that 100 shares of stock you bought at $10 is now worth $4, for example, you'll be able to write off the $600 loss if you sell the stock before giving the money away. If you held the stock for more than a year and are in the 15% long-term capital-gains bracket, for example, that move can save you $90. And you'll still be able to deduct the value of the gift as a charitable contribution -- $400 in this case.

Before you give away stock, first make sure the charity is set up to deal with the gift. Some small charities don't have brokerage accounts and may have a tough time selling the stock or mutual funds.

Another option: Set up a donor-advised fund. You can then give the stock to the donor-advised fund, which sells the investment and gives the cash to the charity. You'll get a tax deduction for the charitable gift when you transfer the stock to the donor-advised fund, but will have unlimited time to decide which charity to support -- making it a good move if you'd like to make a donation before year-end for tax purposes but would like some extra time to select the charity.

[Source Kiplinger.com - Your Money]

Related Video….Tax Saving With Charity Donations. At home instead of overseas….hmm… wild idea.

Bad Credit 101 From Cecil Loans

2007-06-01T16:19:00.001-07:00

Good Reason To Get a Bad Credit Loans

Bad debt is a super reason for getting a bank loan, but there are many other reasons people with bad credit need financing. I briefly touch on these issues here. One of the most common misconceptions I see, when helping people with bad credit, is they tend to think they don't have a fair shake from lenders. That is true in some cases, but generally, lenders and banks only lend money to consumers that can truly afford to make their payments, AND afford to maintain their existing lifestyle. If your credit is badly damaged and you need a loan for a car, house, education or consolidation, you understand the frustration of facing unfair interest rates. Many financing companies treat people with bad credit poorly.

They crank up their interest rate and then act like they are doing you a favor just because of your bad credit rating. The banks use the Fair Isaac database/system to classify your rating and approve your high interest loan all in one breath. If you don't like the way you are being treated by your local banks you can use the internet. Since you are reading this that means you likely have a bad credit rating and you are considering the benefits of an online loan.

Lending Money To People With Bad Credit

Lending money to people with bad credit is not as risky as most banks want you to believe. The statistics show that the majority of people with bad credit are secure credit risks. Why.....because they don't want anymore hassles and they are usually dedicated to fixing their credit rating. A defaulted payment sure won't help them on their way back to a good credit rating. So when you are in a position to negotiate your interest rates you need to be aggressive. Don't assume that because you have bad credit you deserve whatever interest rate they offer. This is what I kept in mind when I built this financing resource.

Thousands of Choices for Bad Credit Loans

There are thousands of choices when getting your loan so you want to be very selective. I'm confident that I have narrowed down the list for you already. See the recommended lenders at the bottom of this page. Note their interest rates and read their web site content. You will soon realize which one is the best financing option for you. You may have seen some of these online loan providers before but take a moment to check out the loans for consumers with bad credit. I'm sure you have not seen some of these companies. One in particular is very popular with the visitors to this site. They are called Creditaxis and they have over 80 bad credit financing companies to choose from. Their track record is excellent when it comes to delivering on their promises. Essentially they are a financial broker.

Debt Consolidation for Bad Credit Loans

Another excellent option is getting a debt consolidation loan. I feature one of the best debt consolidation merchants on this page. They never share your personal information with third parties and they give fast free quotes. Their site and form are secure so your information is safe. Most people don't realize that providing sensitive and confidential banking information online is much more secure than using your credit card in bricks and mortar businesses.

Related Video on Bad Credit Loans

Lazerloan Article On Bad Credit Scoring and Loans

2007-05-29T15:23:00.001-07:00

This is a good 14 step guide for getting your personal spending and financial habits.

Sometimes a little rough around the edges, but there a few nuggets of gold in this piece.

The related video is about your FICO score. This woman is advertising her company really, but hey, it’s on topic!

Begin article….

For consumers who want fix their bad credit score, there are a few options they can look at.

You can simply attempt to procure financing to clean up your bad debt, and hope for the best (I don't recommend that as your best option) or - the best way to fix your bad credit - use a step by step approach.

The step by step method detailed below is practical and I hope you will take the time to carry it out. You will find that fixing your fico score problem is not as difficult as you may have first imagined.

Step 1. Collect all paper work, bills, statements, receipts, and creditor documents you can find. Keep track of your credit lines.

Step 2. Track all debts on paper or on your computer.

Step 3. Only have credit cards you need. Don’t "collect them". Some banks see the credit you have as an existing loan.

Step 4. Set your credit limit according to your ability to manage payments. Just because a creditor gives you a massive credit line, does not mean you can afford to use it all.

Step 5. Never miss a payment and ALWAYS place your bills in one place so you don't miss paying them. I put them on a desk in my office. This is critical because you could damage your credit rating from simply mis-placing an outstanding bill.

Step 6. Pay back ALL your debt by consolidating your loans into one payment.

Step 7. Try to get approved for a low interest line of credit and pay off all high interest debts. Stop spending anything on wants and only spend on needs, at least until your debts are cleared up.

Step 8. If you are spending more each month than you net in income STOP now.

Step 9. Find out what your FICO score is so you know where you stand as far as your credit rating goes. Use this as a barometer as you work towards a good credit rating. Check out your credit score by going to a site like Credit.com, and get yourself a free credit report.

Step 10. Make payments on bills as soon as possible and don't let them ever build up. Write as few checks as possible because they can be forgotten and may cause a bounced check.

Step 11. Liquidate (sell) anything you can to pay off as much debt as possible.

Step 12. Do not get cash advances or "live" off your credit card(s). If you are that stage, you are likely in serious trouble financially. Start using the steps above to remedy this situation.

Step 13. Write down all the expenses you have on a monthly basis and decide what you really need. If you write down some expenses that you could survive without, get rid of them. Sell the car - take the bus, etc. etc.

Step 14. GET SERIOUS.....everyday you wake up think of fun and entertaining things you can do that DON'T cost money. You will be amazed at how quickly you will rebound.
Keep positive and STICK to your budget and program. Don't be afraid to get help from a local financial adviser. I can't stress this enough. People don't seem to realize that there are professionals who give guidance. Even if that professional help costs you some money, it's the best money you could spend.

Now, for a last resort, you can try some of the other bad credit lenders available online and off line. Be careful to make sure you read all the small print and don't get caught up in any ridiculous terms and high interest rates. When you are finally finished your education, be sure to keep your financial nose clean. All the very best to you in your future endeavors and your educational quests.

Fico Score – Related Video

Small Bit On Used Motorcycle Loans

2007-05-28T10:24:00.001-07:00

This was a short piece on used motorcycle loans –think my writer is getting lazy.

Also, below is a short video on a Kawasaki.

Article…

Many riders want a classic old bike as opposed to a brand new one. Some motorcycle enthusiasts buy and sell their bikes frequently so there are allot of "near new" motorcycles on the market. Hence the need for used motorcycle loans.

Times have changed in the world since the days of easy rider and the growing population rides now more than ever. Of course there are the Harley Davidson fans who are willing to pay big money for bikes. Even a used Harely Davidson will require a large used motorcycle loan. (depending on the year and condition)

Whether you need a used Harley or a new Kawasaki, you can apply for used motorcycle loans through this site. No middle man cost from using this site folks. I feature several financial institutions in the U.S.A. and I always have a top pick recommended. If you have bad credit you will find links to great online brokers that will find you the lowest interest rate for a used motorcycle loan. I recommend "Creditaxis" at the time of this writing.

Related Video…..Kawasaki Video Review

Rv Financing 2007 Summer

2007-05-24T21:01:00.001-07:00

Rv financing because the summer is here and it's time to hit the road. I have no intention of going on about which recreational vehicle to buy. I have experience regarding where to find rv financing. The online revolution has created a new way to do business and rv financing is one of those businesses that has thrived. The ease in which Americans can find the lowest interest rates online is amazing. The ability to click your mouse a few times (or few hundred times) and find the ideal finance company has made millions of people more comfortable when getting rv loans.

If you have no interest in reading this brief article on rv financing and you want to get on with it you can click the "rv loans" button at the top of the page or click the link at the bottom of the page. These navigation's will bring you to my rv financing page where I have the daily top pick. The top pick is chosen with a particular criteria in mind. First the financial merchant must have one the lowest rate online and still have a user friendly web site and process policy. It's one to thing to get your funding confirmed and another to have the cash in your bank account. Speed is of the essence.

I have been heralded as a "loans geek" and a "computer geek". Neither of these handles bother me because I resemble those remarks. I provide information on Rv financing, boat financing, auto loans, motorcycle loans and that is it. I have spent an exorbitant amount of time and my experience has been both fruitful and exciting. The scintillating part of this is how excited people get when they get the financing they need so easily. I receive emails from people from all over the United States who are ecstatic about the new car, truck, motorcycle, boat or recreational vehicle they just bought.

I wish you all the best in applying for your rv financing. I hope you choose to use this site for your page pointer.

Bad Credit - Zero Down - Sub-Prime Loans

2007-05-24T14:00:00.001-07:00

Carry Reeder wrote this piece on subprime/bad credit loans. She hits on a few good point regarding zero down loans.

This kind of lending is a bad idea, unless you have a serious and viable plan for repayment, and house-hold income.

Sub-prime lenders now offer financing packages with zero down. Interest rates are higher on these types of loans, but they make purchasing a house easier. And unlike a conventional loan, there is no private mortgage insurance required. There are two types of zero-down mortgage packages, each with their own requirements.

Types Of Zero-Down Loans

100% financing, as it names implies, offers complete financing of your property. The other option, 80/20, finances your mortgage with two loans. Both loans may be carried by your lender, but sometimes the seller or a second lender is required to carry the 20% mortgage.

100% financing is easier to deal with, but not all lenders will offer this type of home loan. 80/20 financing is more common, but takes some negotiation if the seller is involved.

Qualifications For Zero-Down

Each lender has their own criteria for determining who will qualify for a zero-down loan. Most sub-prime lenders require any bankruptcies or foreclosures to have been at least twelve months ago. A conventional loan requires these to be discharged two to four years ago.

While a credit score of 600 or higher is best, large cash reserves can also qualify you. Six to twelve month’s worth of cash reserves in the form of savings, money market, or other liquid assets are considered ideal.

If you choose 80/20 financing with the seller carrying the second mortgage, you can qualify with sub-prime lenders with a score of 560.

Zero-Down Sub-prime Lenders

You can find zero-down sub-prime mortgages with both conventional and niche sub-prime lenders. Make sure that you request quotes from as many mortgage lenders has possible to be sure you find the lowest rate and best terms.

You will also want to decide what type of mortgage you want. An ARM is easier to qualify for and has lower rates. A fixed rate mortgage offers the security of a constant interest rate over the life of your loan.

Typically an ARM will be a better deal if you plan to refinance within a couple of years. After you have improved your credit history, you can refinance for a conventional mortgage with low interest rates.

To view our list of recommended subprime mortgage lenders online, visit this page: Recommended Bad Credit Mortgage Lenders Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.

Related Video…

6.37 Percent Average For Mortgage Rates

2007-05-24T10:21:00.001-07:00

Story on rising mortage rates. Some say it’s no big deal, while others panic.

You humble narrator believes there is no need to panic regarding these adjustments. The Feds have to do what they can in the current climate, and we as consumers need to do what we can in the current banking climate.

Story…

Mortgage rates continued their ascent this week, boosted by consumer-confidence data and recent comments from the Fed, Freddie Mac's chief economist said on Thursday.

The benchmark 30-year fixed-rate mortgage jumped to an average 6.37% from 6.21% in the week ending May 24, according to Freddie Mac's weekly survey. It was the benchmark's biggest rate move since Nov. 3, 2005, when rates also jumped 16 basis points. The 30-year fixed-rate loan averaged 6.62% a year ago.

The 15-year fixed-rate mortgage rose to a 6.06% average, up from its 5.92% average last week. That mortgage product averaged 6.23% a year ago.

Five-year Treasury-indexed hybrid adjustable-rate mortgages also moved upward, averaging 6.02% for the week, up from last week's 5.92% average. The ARM averaged 6.21% a year ago.

One-year Treasury-indexed ARMs averaged 5.64%, up from last week's 5.48%. The ARM averaged 5.61% a year ago.

To obtain the rates, the 30-year and 15-year fixed-rate mortgages required payment of an average 0.4 point, while the 5-year ARM required an average 0.5 point and the 1-year ARM required an average 0.6 point. A point is 1% of the total loan amount, charged as prepaid interest.

"Stronger than expected consumer confidence and recent comments from members of the Federal Reserve ... raised some inflation concerns in the market, causing it to lower expectations of a Fed rate cut this year. This helped push mortgage rates higher this week," said Frank Nothaft, vice president and chief economist, in a news release.

Indications are that economic growth is on the rise again, increasing the probability that a rate cut by the Federal Reserve isn't in sight -- and that perhaps a rate hike is more likely, said Keith T. Gumbinger, vice president of HSH Associates, a publisher of mortgage and consumer loan information, based in Pompton Plains, N.J. This is creating upward pressure on mortgage rates, he said.

But Gumbinger said that, despite the increases, this is still a low-rate environment. In fact, he sees encouraging signs that the low interest-rate environment is helping to fix some of the problems in the housing market, not only assisting people in buying homes but also helping them refinance out of adjustable-rate mortgages after feeling the pinch of rising ARM rates, he said.

"It's not great news," he said of the most recent mortgage rates, "but it's nothing to get terribly excited about." Absent any major occurrences, he doesn't think the rates will rise much more over the remainder of the year, he said. Freddie Mac also doesn't predict a sharp spike in rates.

"We expect a gradual rise in mortgage rates over the remainder of the year with sales slipping further in the second half of the year. A gradual recovery returns toward the end of 2007 with modest increases in sales and construction during 2008," Nothaft said.

As evidence of the housing slowdown, Nothaft pointed out that the first three months of 2006, when the 30-year fixed-rate mortgage averaged 6.25%, spurred 1.11 million (annualized) new home sales. The first three months of 2007, on the other hand, enjoyed mortgage rates that averaged a bit lower but produced only 0.86 million in sales, a 23% drop.
But the Commerce Department provided a glimmer of hope for the industry, reporting on Thursday that new home sales rose by a seasonally adjusted 16% in April. See full story.

In a separate mortgage survey released on Wednesday, the Mortgage Bankers Association reported that mortgage application volume increased a seasonally adjusted 1.6% during the week ending May 18. Volume was up 23% compared with the same week in 2006. The MBA survey covers about half of all U.S. retail residential originations

[Source Marketwatch]

Related Video…

Understanding Credit Scores

2007-05-23T15:26:00.001-07:00

The banks are getting tougher and tougher on borrowers, and penalizing them with higher and higher interest rates. Home-owners who manage to get their finances in a mess will be paying allot more on their next mortgage renewel.

Most mortgage lenders look at your FICO score. What exactly does this score take into account?

Your payment history, which makes up the biggest chunk of your score, looks at how often you pay your bills on time. The amount of debt you owe is considered equally important. The amount of time you've had your credit cards and how much new credit you apply for all play a role in determining your score.

I. Pay Off Bad Debt
You want to aim for a score in the 700s to get more favorable loan terms. The national average, according to Fair Isaac, is a FICO score of 723. And the best way to improve your credit score in the short term is to pay off the high balances on your credit card - that can raise your FICO score 60 to 70 points overnight, says Craig Watts of Fair Isaac.

Credit bureaus can predict how much of a credit risk you are by how you handle credit card debt more than any other kind of debt, like student loans. That's because with installment loans, like mortgage payments, there is a predetermined amount you pay each month. With credit cards, you're in control of what debts you have.

II. Minimize Your Balances
Even if you pay your bills off every month, the amount you paid will be listed on your credit report. And if you spend more than 50 percent of your credit limit, that's going to negatively impact your score. In fact, you could lower your score 60 or 70 points, says Watts.

And that could make the difference between getting a good mortgage rate and a bad one. If you're within three months from applying for credit, make sure you don't charge a lot on your cards, or split the purchases between a few cards, so you keep the balances down.

III. Keep Older Cards
As we mentioned, your FICO score looks at how long you've managed your credit. So the longer you've managed your credit wisely, the better your score. If, for example, you have a card that is at least 5 or 6 years old, it's not a good idea to close those accounts.

At the same time, opening any new lines of credit - whether it's a retail credit card or a new car loan - will almost certainly lower your score by a few points.

IV. You Can Inquire About Your Credit Score Without Penalty
We've already told you what impacts your score. But here are some things that don't matter to your score at all. Your score won't be affected if you request your own credit record, or if you go for credit counseling.

It also won't impact your credit score if your employer or other lenders look at your credit score and try to solicit your business.

[Via CNNMoney.com]

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Even The Loaded Can't Save Money Anymore

2007-05-23T11:41:00.001-07:00

Studies show that wealthy people in the United States are having trouble saving money as well as the “less wealthy”.

No real surpise here to me, but there are those that think rich people are stashing away bags of cash.

Story…

"It's clear from this survey that savings hurdles transcend income levels and that savings requires more discipline than we may realize, regardless of household income," said Kevin Martin, senior vice president, HSBC Bank in the U.S. "The data revealed recurring bills get in the way of saving for the majority of households at both ends of the income spectrum."

The HSBC reports that people with more than $250,000 in household income, who constitute the top 1.5% of U.S. households, report facing many obstacles when it comes to saving. Indeed when HSBC asked what prevents them from saving more, the top answer was the need to pay everyday bills, with 34% of respondents of those who earn more than $250,000 concurring.
The savings rate in the United States dipped to zero in 2005 and has even fallen into negative territory, the first time since the Great Depression.

Financial advisers recommend that people keep three to six months or more of income in a savings account, depending on their financial circumstance. But when people don't save, and over-spend in addition, a precarious financial circumstance evolves where even the slightest snafu in expenses can send them into defaults and bankruptcy.
Over the past two years, default rates on debt payments and bankruptcy rates have soared. Most recently, mortgage fore-closures have sky-rocketed.

It's sometimes assumed that wealthier people are somewhat sheltered from risk of fore-closure or bankruptcy. But just because the numbers may be bigger doesn't mean the financial circumstance may be better.
HSBC found that 49% of respondents with at least $250,000 in income aren't saving more because they simply "want some spending money." In 28% of the cases for those who earn between $100,000 and $250,000 they do not save more because "something unforeseen always comes up." And in nearly one in 10 situations, people who earn $250,000 or more say they aren't even earning "enough to make ends meet as it is."

Were Pre-Conditioned To Spend
Wow. Those statistics are great insight. The serious case of consumerism in the U.S. -- we spend more than twice as much as anyone else in any other country in the world on average per year -- may come back to bite if the economy slips and employment slows.

"Savings can be a challenge at any stage of your life," says Martin. "Regardless of your income, financial status, or age, saving does require a level of control and awareness."

It seems that awareness dims, however, with the more money you earn. More people who earn between $50,000 and $100,000 save consistently than people who earn between $200,000 and $250,000 per year, according to HSBC.
To be sure, there are other things to consider when examining the financial lives of higher income earners. For example, while people who earn more may not be saving more, they may have some type of an investment plan that acts as a surrogate for their savings account. That may be why 74% of people who earn more than $250,000 per year say they save consistently throughout the year. (They save most just before tax time.)

Still, investing aside, saving is a different thing altogether that doesn't always get its due. Talk of hedge funds, sophisticated trading techniques and hot stocks often obscures what should be the gateway to the investing world: the savings account. It shouldn't be minimized or taken for granted. It should be there when times get tough.
These days, I bet a lot more people wish they had a bigger savings account instead of a bigger house.

[Source MarketWatch.com]

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Bad Credit Loan Article

2007-05-23T09:58:00.001-07:00

I like this little article on bad credit loans. Some good points made, and a worthy read. Basically general stuff, but sometimes the obvious is overlooked when looking at your financial situation. Geez, isn’t that what Dr. Phil does. He’s like John Madden on Monday night football. Speak the obvious.

Bad credit for a car loan could bring apon problems such as higher interest rates and higher fees as well as rejection for lending. To avoid dealing with the issues associated with a poor financial history, make wise financial decisions such as opening up a Visa card account and paying the balance off each month. Those who already have poor finances need to apply for lending and take a few steps before entering the dealership to insure getting the best deal possible. The 1st thing potential vehicle purchasers will want to do is research lending options outside of the dealership. When people enter dealerships with bad credit for car loans, dealers usually offer financing options according to payment total not value total.

To limit possible consequences of applying with a poor financial history, go to a traditional lender such as a bank or credit union. These money lenders will take the time to educate someone with bad credit for car loans that fit their income level. This way the applicant can look for the best valued car at a particular price. People trying to borrow with bad credit for a car loan total higher than their income allows will have a difficult time improving their taking a loan for history. Applicants need to use the bad credit for car loan as an opportunity to strengthen their score. By accepting the consequences associated with bad credit for car loans, such as a larger down payment or shorter loan term, applicants can begin making timely payments. This will help them improve a future rating and allow them to avoid the costs added to having a poor financial record.

A poor credit history could increase the payment total 'cause the higher interest rates will swell the total. However, once the vehicle is paid off, the person will be free to take out a loan at a competitive rate. At this point, if finances allow, the applicant can begin to shop for the vehicle of his or her choice instead of being limited to the vehicles available to people who apply with bad credit for car loans. Those who have a blemished record need to take the steps necessary to clean up their credit history, even if that means applying with bad credit for a car loan and paying higher interest rates for a season. When the car is paid off, the owner will be delighted at how much easier it's to finance purchases with a clean record. "Who can bring a clean thing out of an unclean? not one"

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New York Real Estate Cost vs Cost of Living (Video Incl)

2007-05-15T09:23:00.001-07:00

Found some interesting numbers quoted at the Terry Zulit blog (Your Financial Freedom), regarding the cost of living and breathing in New York city, and surrounding areas. I’m glad I’m not trying to make a go of it in New York!

I guess the saying is true…..”if you can make it there, you can make it anywhere”.

All this, with the latest forcast for overall housing prices to drop in late 2007 across the United States. I suppose there are some areas where real estate is somewhat immune from fluctuation, and New York is one of those places.

Some of the numbers below are not directly related to NYC real estate, but they either show the trend, or add a little humor into the fray. Interesting number on how much real estate work you can do when you're serving 33 1/3 years in jail.

Enjoy!

$7.25 million =

Going price for the most expensive of One Brooklyn Bridge Park's 26 penthouse units, making it Brooklyn's all-time priciest condo

$3.8 million =

The borough's previous record, paid this past January for a penthouse in Williamsburg's Aurora building

45 =

Stories slated for Donald Trump's planned condo-hotel in SoHo

12 =

Months it took for The Donald's controversial project to finally get approval

$1,550 =

Rent for a one-bedroom loft in Bushwick advertised - without apparent irony - as "punk rock heaven"

$1 =

Amount residents at the former punk squat C-Spot paid to purchase their East Village building five years ago

40,000 =

Square feet in Brownsville and East New York set aside by the city to be used as community farms

33 1/3 =

Minimum number of years drug dealer Alejandro Lopez-Guevara was sentenced to serve in prison following his 1988 conviction

$1.775 million =

Sum of the real-estate deals Lopez-Guevara has pulled off from behind bars

7 1/2 =

Percentage a rent-stabilized apartment could increase on a two-year lease

$1.2 billion =

Entire 2006 gross domestic product of Belize

$2.4 billion =

Value of residential listings held by Prudential Douglas Elliman, according to a survey by The Real Deal

$940 million =

Price that Urban American Management and the City Investment Fund paid for nearly 4,000 units in former Mitchell-Lama buildings in Harlem, making it the second-biggest real-estate deal in NYC history

34 =

Percentage of Mitchell-Lama's original 105,000 apartments that were moved out of the program between 1990 and 2005

750 =

Number of calculators Halstead Property is donating to Harlem public schools

New York City real estate is a little on the expensive side, you might say. Therefore, real estate in New York NY, is prime for those desiring a solid financial investment.

Related Video……cost of living in New York

Allstate Halts New Homeowner Policies July 2007

2007-05-14T20:27:00.001-07:00

The third-largest California insurer said last week it will stop writing new homeowner policies starting in July, pointing at the high risk of catastrophes in the state.

The company said it will continue to serve customers with existing homeowner policies and that it will renew those policies when they expire. If you are an Allstate customer, you should know the company is lobbying to raise premiums about 12 percent in California.

Allstate customers who have questions about their policy should contact contact the company directly or call the Department of Insurance Hotline at 800-927-HELP.

If you're shopping for a home insurance policy, here's what you need to know:

1: Don't panic
You should not have a problem getting property insurance if you are a California homeowner. There are over 100 companies competing for Californians' business, according to Amy Bach of United Policyholders, an insurance consumer group.

Homeowners should know that most other insurers in California are lowering premium prices rather than raising them. State Farm rates are down 20 percent this year, and while others including AAA, Farmers and Safeco are cutting rates.

2: Know where to go
Allstate is referring policyseekers to a third-party insurance company, but homeowners should not be afraid to shop around. This is where you need to do your homework.

Insurance seekers can go to the state insurance department for a list of agents and helpful tips on comparative pricing. In California, that Web site is insurance.ca.gov. But no matter where you live, you can also go to insure.com and insweb.com.

3: Don't Delay
If you have a mortgage, you'll need homeowners insurance. There's no way around it. Homeowners insurance generally covers the cost to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning or any other disaster listed in your policy. But keep in mind that it will not pay for damage caused by a flood, earthquake or routine wear and tear.

That being said, make sure you have enough insurance to rebuild your house. Two-thirds of homes are insured for less than their full value. To get the best estimate of how much coverage you need, ask a contractor what it would cost to rebuild your home.

As an additional note, your standard homeowners policy won't cover valuables over $1,000 to $2,000, so you may need to buy a separate rider for that antique art collection. And be aware that flooding is not covered in a standard policy. You'll have to get that from the government. Go to Floodsmart.gov for more information.

[Source CNNMoney.com]

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See info on Paris Hilton here. Paris Hilton pictures, information, and galleries. Catch up on the latest Paris Hilton gossip and rumors!

Terry Savage's - The Savage Number

2007-05-10T04:28:00.001-07:00

First Woman Trader On The Floor of The Chicago Board Options Exchange, Terry Savage, lays out “The Savage Number”. She discusses retirement planning for the baby boom generation.

“It pays to plan while you can.”

Bankruptcy Abuse and Consumer Protection Act.

2007-01-16T10:13:00.000-08:00

President Bush Junior signed into law the oddly-named Bankruptcy Abuse and Consumer Protection Act. This bill (the most significant change of federal bankruptcy law in over 24 years, was created to slow down escalating personal and business bankruptcy.

Companies that support new bill which included the credit card industry, say that the bill is necessary in order to stop an avalanche of bankruptcy filings by drug users and compulsive shoppers and gamblers.

The law makes it harder to have debts wiped away, requires credit counseling for those considering bankruptcy, and holds attorneys to the fire for paperwork errors by their clients in bankruptcy cases. The end state result will likely be chaos, as fewer attorneys will handle bankruptcy cases, credit counselors will raise their fees, and more consumers with problem debt will be clueless as to what they should do next.

Adding to the confusion are some new statistics that suggest that a large number of bankruptcies that are thought to be personal are actually business bankruptcies. As a result, the new law may be unfairly targeting consumers for punishment when they are not actually the biggest part of the problem. Worse, it could be harming small businesses.

Studies suggest that the number of business bankruptcies may actually be up to ten times higher than previously reported. Many small businesses that fail and file for bankruptcy do so under guidelines that technically classify them as personal bankruptcies. The new law doesn't account for this, however, and treats such bankruptcy filers no differently than those who file because they can't stop shopping. It benefits no one to force a small store owner to undergo mandatory credit counseling when their business may have failed due to other reasons, such as having a big-box retailer more in next door.

Even if that is the case, the law will require the bankrupt business owner to attend counseling in order to learn about managing personal and household budgets. This wastes the time of both the business owner and the credit-counseling agency and denies valuable counseling resources to those people who may really need it.

In time, the new congress may amend this legislation if certain aspects of it do not work as intended. In the meantime, small business owners and those with personal debt problems will be inconvenienced, credit counseling agencies will be overworked, and no one will be any better off for it.

Charles is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling.

Good Review At Money Traffic

2006-12-04T22:45:00.000-08:00

There is a good review on Money Traffic on unsecured business cash advances. Kenny Allman does a research project on business advance loans. Urged by Terry Zulit, Kenny phones and visits various cash advance lenders who lend money to cash strapped small and mid-sized businesses.

An interesting read if you are considering a cash advance for your business.

A Fools Oil Barrel

2006-11-01T23:25:00.000-08:00

Well there is alot of speculation going around regarding the price of oil these days. As the price per barrel is going down investors may be feeling a little bit uptight. Not to fear....this low is not going to last.

This small dip in the price of crude oil only make me invest MORE in the petroleum markets, as the pay off is going to be there. We'll be paying more than ever at the pumps in mid 2007.

How Much Risk Involved With Mortgages

2006-10-23T10:00:00.000-07:00

Found a good article over at the Kipinger site on mortgage rates and the advantage for property owners, buyers and sellers. Below is a bit of the article. To read the full story click here.

(ARMs), which home buyers took out in droves over the past few years to stretch their purchasing power. Problem is, about $1 trillion in ARMs will lose their low, introductory fixed interest rates between now and the end of 2007, bringing sticker shock to many borrowers when they see their rates jump as much as 5 percentage points from one month to the next.

Top Ten Cities For Opportunity In America

2006-10-15T15:11:00.000-07:00

A good study on American cities on the Kiplinger web site. I've listed the top 10 below. The idea of moving from city to city is fantastic if you are in a position to do so. Staying in a town, city, state, or province when times have gone south makes no sense at all.

It's a very good idea to keep somewhat mobile as life changes come around. Personally, I'm keen on living in the retirement areas long before I retire. Better golf course, better health care, and a quieter back-drop for life all around.

#1 Nashville, Tenn.
The top pick offers affordable homes, a mild climate and a phenomenal entertainment scene that goes far beyond country.

#2 Minneapolis-St. Paul, Minn.
The Twin Cities offer a hip and progressive atmosphere with a midwestern sensibility, multiple cultural outlets, pro teams in all four major sports, a dozen universities and colleges, and a diverse economy.

#3 Albuquerque, N.M.
This laid-back city offers resort-town ambience, a boomtown economy and cow-town prices.

#4 Atlanta, Ga.
The capital of Georgia is a vibrant city with a rich history, good health care, a great cultural scene and genteel neighborhoods shaded by magnificent dogwood and magnolia trees.

#5 Austin, Tex.
Home to the University of Texas, the state capitol, the Zachary Scott Theatre and the Umlauf Sculpture Garden and Museum, Austin is a sophisticated salsa of culture, history and politics.

#6 Kansas City
This city split along state lines offers something for everyone: from stately houses to downtown lofts and world-class museums to barbecue.

#7 Asheville, N.C.
A virtually franchise-free downtown, world-class cuisine, amazing crafts, live music venues and fine arts make this city tucked into the Blue Ridge mountain range one of a kind.

#8 Ithaca, N.Y.
True, it's in the Finger Lakes boonies of central New York, but Ithaca is an Ivy League outpost with great food, beautiful scenery and Naderite politics.

#9 Pittsburgh, Pa.
Currently undergoing a renaissance, this hidden gem has distinctive neighborhoods, tree-lined streets, glittering skyscrapers, upscale shops and a diversified economy.

#10 Iowa City, Iowa.
An oasis on the prairie, this wholesome middle-American city is bursting with creative and intellectual energy.