Ask The SEC
Who is the SEC and why should I ask them anything? The Securities and Exchange Commission in Washington, DC is the government bureau that regulates the securities industry. They make the regulations that all stock exchange listed companies, brokerage houses and mutual funds must follow.
My readers know that I am a believer in the purchase of mutual funds for investment and retirement accounts. The reason is that very few people are qualified to choose stocks. Unfortunately that also applies to many mutual fund managers especially when you look at the performance of the majority of funds for the year 2000.
I can excuse the average Joe for not being able to pick winners, but I cannot excuse a fund manager who is paid huge amounts of money (always 6 figures and mostly 7 figures) to lose the cash of the little people who invest. There are 77,000,000 owners of mutual funds and 80% of them have less than $50,000 in their accounts. Why is anyone giving them their money to have them lose it? These are the “experts”.
Credit Score: The Brightest Feather In Your Financial Cap
Credit scores are the most important aspect that determines your financial future. Carrying a good credit score is an asset and can pave your future towards greener pastures. On the other hand a negative marking on your credit report can be ruinous for your future dreams. However, “There Isn’t Much anyone can do for those who will not Do Something for themselves.” The same is applicable for credit scores. Your prime aim is to maintain a good credit score and lead a planned life.
How to assist myself to have a good credit score
To have a clear knowledge about your credit score, it is a good idea to get your credit report from the credit bureaus once a year. This will ensure your credit is being reported correctly. Usually the credit scores are within 400 to 850. If your credit scores are higher, your eligibility to get approved in a loan also gets higher in priority.
Credit scores consider 5 main categories for scoring consideration and are rated according to importance:
Payment History -35%;
Length of History -15%;
Amounts Owed -30%;
New Credit -10%;
Types of Credit -10%.
Correlation between the Credit Score and Defaulters
Kings Bay Saint Marys & Kingsland Georgia Real Estate - Getting a Home Loan with Damaged Credit
So, you have made the decision that you would like to become a homeowner. As lenders, we have to perform a credit check. The credit we review are provided by all three reporting agencies. Equifax, Experian and Transunion are the three agencies lenders use. The middle of all three beacon scores is the one used to qualify a borrower for a mortgage.
Many lenders will deny would be borrowers if their mid-score is less than 620. However I take a different view of credit scores and look for a way to get the loan approved. There are sub-prime loans available for borrowers with low credit scores, however I believe that it is in the best interest of my clients to take the time to make some small repairs to their credit. By doing this, I am not only providing a valuable service that helpsmy clients, but I am able to save them from 2% to 4% on a fixed mortgage rate.
How long does it take before you can close on a loan? Usually from 30 to 60 days. It depends on how quickly you can provide me with the information to repair the credit.
Debt Consolidation with Free Government Grants? One Scam to Avoid
Have you ever seen a commercial or an ad promising "free government grant money?" According to these ads, the government and other organizations give away nearly one half a trillion dollars each year, and all you need to do is apply! The ads go on to state that the money can be used for anything, including debt consolidation , student loans, a yacht or just about any frivolous thing you can imagine. All you need to do is call their toll free number, buy their book or enroll in their program and the details are soon on their way to you.
A half a trillion dollars is certainly enticing, but are organizations really just giving money away for the asking?
Not exactly. Grants are certainly available from the Federal Government and elsewhere, but it’s not as though the money is just handed out for the asking. Grants are usually given by organizations interested in achieving specific goals. If you’re interested in bringing water to the desert, you might find an organization that’s interested in global water distribution to aid you in your quest with a grant. It’s doubtful that you’ll find an organization that’s interested in helping you pay off your Mastercard bill or funding your dream vacation home in Sun Valley.
Developing a budget? Watch out for Those Budget-Bursting Gremlins
If you’ve developed a household budget to get your spending back in line or to just reduce stress, good for you! Creating and sticking to a budget isn’t easy by all means. But it represents the best way by far to manage your finances so you can relax and worry about other things.
A budget can also be a very useful tool for ending financial arguments — assuming that you and your spouse agree how much to allocate for each of the categories in your budget.
The big categories are usually the easy ones. You know how much you pay for rent or your mortgage. Ditto other items such as your car payment(s), heating bill, phone bill and the like.
These are all fixed expenses. In other words, they are expenses that cannot be easily cut. They can be reduced but not without a major effort. For example, you could sell your home and buy one that requires a monthly mortgage payment.
However, many of the other items in your budget are discretionary expenses. In other words, they are expenses you can control and cut. This category includes items such as clothing, entertainment, insurance (yes, you can cut the cost of your car and health insurance), cable or satellite and groceries.
Debt: Dont Pay Your Minimum Balance
Almost all Americans carry credit card debt. Actually, over 40% of US families spend more than they earn. If you’re like most of us, you try not to think about how much money you owe and what that debt is really costing you. If you did, you might not sleep too well. However, by not fully understanding your current financial situation you are only prolonging the problem. In order to rid yourself of unsecured debt, you need to face the uncomfortable and often painful fact: it is very possible that your current debts may take you 30 years to pay off.
That can’t be possible you say! I only owe $6,000. This should be paid off a couple of years. My credit card company would not do something so unethical to me, would they?
As a matter a fact, they would. In fact, if you took 30 years to repay your debts, you are an ideal credit card customer. It’s important to realize that the credit card companies only allow you to make minimum payments because it benefits them. This is not a good thing for the credit card holder. They do not do this out of generosity; this is how they make money.
Short Term Loans…are they right for you?
With less than a week before she was to receive her next paycheck, Roni was faced with a problem that millions of Americans experience at some point in their lives: bills that are due and not enough cash available to pay them. Faced with a dilemma of late fees and a lower credit rating, many consumers with no options left turn to credit card advances as a stop-gap resolution for their problems. Unfortunately, for many Americans, they either do not have a sufficient line of credit available to tap in emergencies situations like Roni’s or their credit is maxed out. So, what do they do? Like so many consumers are learning they can turn to providers of short term loans like those found on the internet. Let’s take a look at some of these options to see if they are right for you!
Loan options vary amongst providers, but they typically permit borrowers to apply for a loan on one business day and receive funds deposited to their checking account the following business day upon approval of their application. Most lenders require that you have a checking account that has been open for a minimum of 90 days, that the borrower be at least 18 years of age, and that the borrower be employed or receiving a regular monthly check [pension, social security, etc.]
Credit Cards - The Top 3 Things You Need To Know
Today there are so many different credit cards available, student prepaid, low interest cards etc. that it has becomes a real hassle to find the right one that will suit your needs.
This is the reason why we at online-creditcheck provide you with necessary information which can help you in choosing the right credit card for you. The good thing about this information is that it is all free of charge.
We have created a list of 10 things you need to have a look at before you decide to apply for that credit card
1) **Annual Percentage Rate - APR**
Many credit card companies give you an intro apr rate that will be lower then your regular apr rate. Keep in mind when this introduction apr rate will expire and use it to your advantage
0% Intro APR Credit Cards, will give you the opportunity to purchase goods/a service without paying any interest on your principal spend. Such cards are usually for people with a good credit history
2) **Credit Card VS Debit Card (prepaid credit card)**
Although a Prepaid Credit Card, has the same look and feel of a regular Credit Card, those two are not the same.
Before You Buy
Before you start looking for a home, figure out what you can realistically afford to pay per month. Check out the market in the area you want to buy. Find out what price houses are going for and what the payments are per month. Remember that you may end up paying a little more per month than someone with a conventional bank loan, so keep that in mind as you figure out what you can afford.
You are going to have to work harder to find a home you can get without a loan. You will have to shop around more. So, concentrate on your needs in housing before your wants. Make a list of the minimum that you will accept in a house. Only write down your essential needs. Do you have to have three bedrooms or can you make do with less? Do you have to have a two-car garage or will a carport do? Do you have to have a single story home for health reasons? How close do you have to be to a school?
Why You Need To Buy and Sell Gold Coins (Part 3)
Putting Rare Coin Market Cycles to Work for You…
Until recently many people believed U.S. stocks would go up forever.
However, recent crashes in high tech stocks and the overall stock market correction left many investors with huge losses. Clearly, market cycles are changing.
The return of high inflation, combined with a slowing economy, suggests it’s more important than ever to move into safer, more profitable investments in the coming market cycle.
Balance and Diversify Your Portfolio - We believe you can profit handsomely by diversifying your portfolio with investments currently undervalued. Everyone agrees gold, hard assets, and commodities have been out of favor in the past decade. For many reasons, we feel these sectors are most likely to be top performers in the next market cycle.
Move To Hard Assets in Bad Economic Climates - For that reason, it’s important to consider moving into hard assets, gold, and U.S. Rare Coins. Prices are attractively low today compared with past market highs. The table below details recent cycles for the U.S. Rare Coin Market showing increases ranging from 348% to 1,195%.
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