Finding the cheapest income protection insurance

If you have been offered income protection insurance alongside your loan or credit card then you could be asking yourself - is there such as thing as cheap income protection insurance? Well the good news is that it does exist. Certainly, the cheapest income protection insurance can be found by shopping around for cover rather than being coerced in to buying it from your bank or high street lender alongside your loan, credit card or mortgage.

Research shows that going with a standalone provider and staying clear of the high street lender can more often than not save you a substantial sum of money on your premiums. A reputable standalone provider will specialise in this type of insurance and so will not only be able to offer you the cover much cheaper than the high street lenders can, but they also have experience when it comes to selling policies, meaning you are more likely to get the right policy for your circumstances.

Income protection insurance will provide you with a fixed monthly income for a stated period of time should you find yourself out of work due to an accident, long term sickness or unemployment. However the cover has to be bought wisely, otherwise you risk not being able to make a claim if you haven’t read the small print on the policy.

The income protection sector has been under fire recently and has earned itself a bad name. However, this shouldn’t put you off buying this invaluable cover. The majority at fault when it comes to the mis-selling of income protection insurance have been the high street lenders who are also noted for over charging on the premiums as well as selling policies that people haven’t got a chance of claiming on. This is why if you are thinking of taking out income protection then you would be wise to do your homework and see what is on offer.

Finally, when taking out the cover, never take it alongside a product such as a loan or credit card with the high street lender. The premiums will be sky high – as the personal finance media regularly highlights – with billions being made in profits every year from the sale of payment protection insurance. Stick with an independent specialist and you should get great advice, a quality product and the cheapest income protection insurance that is available anywhere.

Calculate before applying for home loans

Do you have any idea what you should do before buying a home? Sure, you may know that you need a down payment and that your credit should be good. But, do you really have what it takes to buy a house right now? You might be shocked to know the answer!

With a home being the biggest investment you could ever make, it is not surprising that so many are clamoring to apply for home loans. The tax benefits of home ownership outweigh the tax burdens, and of course the notion that you have a home that will be yours without having to worry about rents being raised, developers gobbling up apartment buildings only to turn them into condominiums, and the idea of gardening usually provide attractive incentives. Yet before you go out and speak to the first mortgage broker you can pull up online about financiering your dream home, consider what you can really afford.

Similarly, before you start house shopping, hoping that you will somehow qualify for the home loans you need, keep in mind that you need to not only factor in the cost of the home but also the cost of the taxes as well as the insurance you will need to carry. When it comes right down to the cold hard cash reality, it will be wise to have about 20 percent available for a down payment. Granted, there are many loans that are being advertised as zero down financing, yet the fine print is very clear in that this savings will cost you with respect to interest rates.

Reputable lenders of home loans will look at your long term and short term debts. If possible, pay off smaller debts and revisit your larger debts to see if they can be paid off quicker. While student loans may accompany you for a decade or more, a car loan may be paid off within a year or two. When you tally up all of your expenses excluding rent or your current mortgage, you should have about 30 percent left over for your future mortgage. Keep in mind that you still need to have enough money for savings, the occasional emergency and of course a vacation here or there. It is too easy to make the number match just to get into the house of your dreams only to then run up credit card debt for groceries, gas, and vacations.

Last but not least, stay away from adjustable rate home loans! Sure a teaser rate of maybe one or two percent is a great incentive, but sooner rather than later the interest rate will go up and your monthly payment will skyrocket! As a matter of fact, did you know that many adjustable rate home loans have a cap as high as 12 percent? This will make your home unaffordable very quickly, and if you are planning to stay in it for a while, you will be wiser to go ahead and look at the fixed rate home loans for security.

When to get a secured card

Many people who have never had a card before or who have a poor credit history can find it hard to get themselves a credit card. Even if you have a good job and a mortgage, if you have had problems in the past or no card previously, you might be turned down. If this is the case then there are alternatives open to you, such as getting a secured credit card. If you want to know more about getting a secured credit card, then here is some advice about secured cards and how they can benefit you.

What is a secured card?

A secured card is a card whereby you tie up a monetary deposit in a bank in order to get a credit card. Your credit limit is then 100-150% of this amount. There are no credit checks necessary for secured cards, and the more money you can tie up then the higher your limit will be. The amount that you tie up will earn interest, but you cannot use the amount at all whilst you are using the card.

Why get a secured card?

Of course, the main reason why people get a secured card is because they cannot get hold of a regular credit card. Secured cards give people with poor or no credit history the chance to build up a good credit record by spending on a credit card. If you spend wisely on the card and pay back your bill each month then you will quickly build up a better credit history and be able to get an unsecured credit card.

Advantages of a secured card

Apart from the fact that a secured card allows you to get hold of a credit card with the features of an unsecured card, it also allows you to earn interest on a lump sum of money. The money that you use to secure the card will most likely earn more interest than it would in a regular bank account, meaning that after you have finished using the card you will have made some money.

Drawbacks of a secured card

Of course, secured cards aren’t for free, and they generally have higher interest rates than unsecured cards. This is not a problem if you pay your bill back in full each month. However, if you spend more than you can afford you will be subject to high rates, and you may find yourself unable to pay the amount back. This will hurt your credit history even further and make it even harder to get a regular card in the future.

Beware of scams

As with any other product that targets those with poor credit, there are a number of bad cards and scams around that you should avoid. Although many secured cards are reasonably priced, some charge extremely high annual fees, or make you sign up to an insurance policy that costs you as much as you can afford to spend on your card each month. Before signing up to any secured card, read all the fine print and shop around to find a deal that is fair and you can afford.

Debt consolidation loans eliminating confusions when paying your bills

If you have been having trouble tracking down your credit card bills, youd better consolidate all your debts into one account. There are many financial companies all over the country that are offering debt consolidation loans to its clients for lower interest rates. Not only will you have less trouble tracking down which credit card bill is due on what date, you will also be able to enjoy lower interest on your debt consolidations loans. In addition, working with a company such as a debt consolidation company can help you lower your interest rates and monthly payments to each creditor. This can help you pay off your debt quicker.

Getting Debt Consolidation Loans

When getting debt consolidations loans, make sure that you choose a bank that can give you the best terms and conditions. Try to shop around first and find the bank that can best answer your needs before you start processing your debt consolidations loans application. Do not just say yes to the first bank that offers to bail you out of your financial mess.

When applying for debt consolidation loans, make sure that you know which loans you want consolidated. Note that you may have some debts that have considerably lower interest compared to what the bank handling your debt consolidation has to offer. In this case, you might want to exclude that debt from the consolidation. There is really no point of paying more interest if you can have less. Besides, if you only have to keep tab of a two or three separate debt payments every month, that should be very hard to track down.

On the other hand, if you are planning to keep two or three of your credit cards, you need to closely evaluate which one of these credits cards you want to keep before you to a bank or any financial institution and as for debt consolidation loans. Find out which of your credit cards have higher interest than the others and discard these first. Note that credit cards that have higher interest rates are not favorable to you. The higher the interest rates, the more expensive it will be to keep that credit card.

Credits cards with higher outstanding balances should be included in the debt consolidation. It doesnt matter if you intend to keep that credit card, as long as the outstanding balance is big and you are having problems paying your monthly bills, you should ask the bank that is handling your debt consolidation to pay off your balance in that card. Note that just because you included the outstanding balance of this credit card in your debt consolidation loan doesnt mean that you have to give up the card. You can still keep that card. Just make sure that the next time you start using your credit cards you will be more responsible and wise in your spending. There is really no point of overburdening yourself with so many debts. Of course, if you think you will be tempted again, it is best to cut all credit cards up right away.

Introduction to california health insurance in 5 easy pieces

Okay...so you've visited countless websites, received instant health insurance quotes and colorful benefit descriptions with enough small print to make you scream...WHAT DOES IT ALL MEAN (and who writes this stuff)!!!

Well we didn't write it but after years of reading it, we have boiled down the various plans to 5 key elements...and if you understand just these points...you will be able to walk into the California health insurance market with confidence (and a fair amount of sanity left).

Now granted, there are tweaks and twists between the plans, but with the above 5 points, you already have 90% of it...the other 10% you can ask us.

So let's get started. HMO, PPO, EPO...what does it all mean. We will take a good look at what they are but more importantly...how they affect your care. Let's take a closer look...

1. Understanding the California insurance network - HMO, PPO, EPO and how it affects you.

HMO...PPO...EPO??? What does it all mean. Well... rather than give you the long version of each term, let's get to the heart of what each is, and more importantly, how it affects you.

First a stroll down medical memory lane. Up until the mid 80's (wow...last century), California health insurance was pretty straight forward. You can go to any doctor and the insurance company is going to pay a certain amount. It was around this time however, that they came up with "managed care". And voila, terms like HMO, PPO, and EPO made their entrance. Well what are they?

They are essentially volume discounts.

In order to control costs, the insurance company went to doctors and said, "Look. If you join our PPO, we'll bring you a lot of customers (us the insured) but we want you to discount your costs 30-60%. That $100 doctor visit should be $60. And if you join our HMO, we'll pay you $50/month for each person who signs up with you. In turn, there will be a lot of people to make up for this discounted amount.

Now there are variations in a contract between insurance companies and doctors, but essentially, they are offering volume discounts to help contain medical cost inflation...and it worked!! From the early 90's to about 1997...all was relatively calm on the insurance premium front. We may have reached the extent of what managed care can do as premiums have risen significantly since 1998.

Now that we have a behind-the-scenes view of what HMO, PPO, and EPO are from a doctor point of view...how do they affect us??

First let's break each one down.

If the old way (Fee for Service) was that you can go to any doctor you wish, then the HMO (Health Maintenance Organization) is the polar opposite. You choose one doctor up front, and essentially all care is managed through that doctor and with a local hospital and medical group. This doctor is referred to as a Primary Care Physician and he or she makes most decisions on care and/or referral to quotes. The trade-off with this highly structured system is that the benefits are very rich...i. e. low out-of-pocket expense when you get sick or hurt. Some people swear by it...others swear at it. It works for people who are flexible and want low-out-of-pocket expense. You typically do not find HMO's available in rural areas...because remember, they need lots of people to make it work.

Back to our spectrum, the PPO's (Preferred Provider Organization) are somewhere in between the "go to any doctor" method of the past and HMO's "choose one doctor/hospital". There is an extensive list of doctors and hospitals in California from which you can go to. You refer yourself out to quotes and you are not locked into one area or one doctor. You receive the negotiated rates (30-60% discounts mentioned above) with a PPO plan which can amount to significant savings. That being said, you will help pay along the way...either in the form of a percentage or a deductible (we'll get into these in section 4). Now with PPO's, you can go to doctors who are not in the network but then your benefits are significantly reduced. Why?? These doctors are not offering the "volume discount" we mentioned above.

Another variation not as often seen is an EPO (Exclusive Provider Organization). An EPO has the exact same doctors/hospitals as the PPO list but with no out-of-network benefits. If you go to a doctor not listed on the EPO list, you have no benefits.

2. Premiums...the amount you pay each month to keep the policy in effect...but there's more

Such a loved topic...health insurance premiums. Just the thought can raise blood pressure faster than the actual rates seem to go up. Let's take a closer look and find out why an expensive plan might not necessarily be the right plan.

It is a pretty straight forward contract...as long as you pay the premiums...the insurance carrier will cover you, but what exactly are we paying for? Before we take a look at big bills and small bills...etc...you need to understand a fundamental truth about health insurance.

If you are getting great benefits for the smaller bills...believe me...you are PAYING FOR IT. It's the equivalent to buying a car warranty that also covers a weekly car-wash, oil change every 3,000 miles, and a new set of tires every two years....sounds great but the cost would be so high...no one could afford it!! Health insurance is very similar...

A simple example (real life) will help explain this.

Let's say you have a PPO High-deductible at $47/month that mainly covers the big bills...any small stuff will be your responsibility. Compare that to a 30% PPO plan for $167/month that will cover right away...leaving you to pay 30%. That means your doctor visit is going to be pretty cheap. Remember, it will handle the big bills pretty much the same.

Now the first reaction to our $47 plan is..."You mean I HAVE to pay for the doctor visits and anything else up to $2,250??? That doesn't sound too good!!"

But let's look at it more closely...The difference in premium is $120/month. That's $1,440 a year. That's a lot of small bills you better be having in order to get any value out of the more expensive plan. So you're paying a definite $1,440 to cover a potential $2,250 expense. That's not smart insurance. You want to pay pennies on the dollar...i. e. protect with $47/month from a potential $20,000+ surgery bill.

3. The real reason to buy California health insurance...The "Big What-if"

I hear it almost daily..."I'm healthy - what do I need health insurance for??"

The average person lands in the hospital every seven years. Almost 50% of bankruptcies in the U. S. are the result of a sudden medical condition or accident...and believe me...they were all probably "healthy".

There is a double-edged sword in today's medical world. Improvement in medical technology and capability is unprecedented with even further developments around the corner through new genetic advancements. All this is great but as the capabilities increase so do the resulting costs. The possibility for the large medical bill is really why you need health insurance and this should be ultimately what your plan protects against.

Maximum out of Pocket

Most plans handle this Big What-if or catastrophic health coverage with a "maximum out-of-pocket", quite possibly the most important part of your medical plan.

It basically means, if you have a big bill (or a series of bills) when does the plan pay at 100%. Of course, this maximum applies to in-network (see Section 1 Doctor doctor) and for covered benefits. It usually applies to a calendar year, from January to December after which it is reset. Typically, the Maximum includes deductible (we'll talk about the deductible in the next section - small bills).

4. Pennies on the nickel?? Insight into how insurance plans handle the smaller bills.

Now small bills basically refers to everything up to your maximum-out-of-pocket (see Section 3 - Big Bills). There are different ways each plan handles these expenses so lets explore them and more importantly...their costs to you.

Up to your maximum, each plan handles smaller bills in one of three ways. By small bills, we mean everything from your doctor visit charge to minor surgery...essentially what falls below your maximum (because it goes 100% after that anyway!!). Let's first understand what these terms are, and then really understand how much it costs to have the bells and whistles.

Deductibles, Copays, Co-insurance.

A deductible is an amount that you will pay 100% of before the plan starts to pay. Think of if as a pool of money. Once you have spent your pool of money out of your pocket, the insurance then starts to kick in. This amount is usually in a calendar year, January-December. Sometimes there are separate deductibles for specific care such as maternity. Now remember, if you are in-network i. e. you are Blue Cross and the doctor is a Blue Cross doctor, then you will get 30-60% off because of the negotiated rates. Let's look at an example...

Doctor visit is $100. Because you are Blue Cross PPO and doctor is Blue Cross PPO, then this charge may drop to $60. You pay this $60 and it applies to your deductible.

This negotiated rate is a great benefit even before you have met your total deductible. Now out in the market today, they primarily have what's called a high deductible plan (from around $1,000 to $3,000) which is for the person who is really worried about the big what-if and wants to keep their monthly premiums down. A great example of this is the Health Savings Account plan which has special tax advantages for the self-employed and small group.

A Copay is simply an amount you pay for a given service. For example, a $40 copay usually means you will pay $40 for the doctor consultation. Keep in mind that additional services, i. e. labs, x-rays, etc...will have additional costs. Sometimes there are copays on specific services. For example, ambulance or emergency room visit might have a copay.

Co-insurance refers to a percentage you will pick up for services. For example, a 30% plan means that you will pay 30% (insurance will pay 70%) of the negotiated rate.

These are essentially the three ways an insurance plan handles the smaller bills.

5. How plans handle what is increasingly the most costly part of visiting the doctor...prescriptions

Brand name prescriptions have been increasing 20% per year and despite the political rhetoric...that's probably not going to change for a while.

In case you have been away the last couple of years, pharmaceutical companies have changed the way they market their products. It use to be that they would primarily market through the doctor...a "push" method. Now, with huge advertising campaigns, they are advertising directly to you, the consumer in the thought that you will then go and request that medication from your doctor...the "pull" method. Guess what...there is a cost to all this and you want to make sure your plan covers it.

Most insurance plans handle prescriptions with a copay, a fixed amount you pay. Typically, there is a different copay amount for brand name and generic stemming from the situation I mentioned above. Across the board, you usually find a $10 generic copay and a $25 brand name copay but make sure to check the policy...it might be different.

Well we have made it through...hopefully with few scars and a great deal more understanding of how to read the plans.

Bankruptcy podcast downloads

The computer has replaced the TV as the most used item in the household. There is so much information that can be found over the internet that people can get almost anything that they want mostly for free. With Apples ipods, music and stories can be bought and downloaded directly to the ipod. If people search the internet long enough they can find websites that have some free downloads.

One download that people may choose to download is a bankruptcy podcast. A bankruptcy podcast will have information about a specific area of the bankruptcy laws or a general information download to teach the general basics of bankruptcy. This can save a person valuable time during the day or evening allowing for people to listen to the bankruptcy podcast as they lie in bed or wherever else they may lounge.

The ability to learn about bankruptcy while relaxing makes remembering easier and the details can be understood better because of the bankruptcy podcast. One other thing that the podcast helps with is the person’s ability to listen while others cannot hear. Whether it’s for privacy or just for the family not having to listen along with the person, it makes it convenient to listen while everyone else can do whatever they want to without being distracted.

Bankruptcy Podcast Negatives

While a bankruptcy podcast adds convenience and ease of use, there are some things that people should understand in order to not get bad information. When people download the podcast, they have no idea how recent the information is.

It may have been posted the very day that it was downloaded, but that doesn’t mean that the information is accurate. Many people mean well when they post information but there may still be mistakes. If people are determined to use bankruptcy podcasts, then it is suggested that people look for official sites that give up to date information which can be used to teach people the complete truth.

Something else to be careful of is the specific laws of any certain state. Bankruptcy is a federal law that handles people’s debts but a state may have certain laws for filing or notification to creditors. Finally, understand that a bankruptcy podcast is not a complete authority on bankruptcy and a bankruptcy attorney is an expert and will be able to answer all of peoples questions and can also guide people through the maze of federal and state laws concerning bankruptcy.

The evaluation of stocks

In order to effectively invest your money into stocks of any kind, you must know all of your stock options so that you can efficiently earn money. Because stocks are simply small shares of a company, the more stocks you purchase to more you own of a certain company. For example, if you purchase 100,000 stocks in AutoZone, an automotive store, you would have more say in what takes place in the company that someone who only purchases 1,000 shares of AutoZones stock. There are two main types of stock in that, you, the investor should become familiar with so that you can properly purchase the stock that is right for you and your monetary situation.

Common Stock

Basically stated, a common stock is, well, common! When you hear people talking about stocks in general, it is these types of stocks in that they are referring. It is simply a piece of paper that represents some degree of ownership of a corporation as well as some form of profit from that particular company. Interestingly enough, investors in common stocks receive one vote per stock owned to elect board members, the people who oversee major decisions made for the company as a whole, for a particular company. In the long - term, this type of stock means capital growth for the investor, however, if the company is forced into bankruptcy, the investor will not get paid what they are owed until creditors, bondholders, and preferred stockholders receive their payments.

Preferred Stock

In general, preferred stock is stock that is owned by preferred stockholders in that all of the companys earnings and assets go directly to the preferred stockholders first. Because preferred stockholders are paid before common stockholders, preferred stockholders choose to give up their right to vote in the election of board members. For this reason, preferred stockholders have no right in the selection process of the company. Preferred stockholders purchase stock in a certain company for monetary gain only in that their main goal in investment is earning a return on investment. Of course, there are four variations on preferred stock investments.

Voting - Preferred stock members can opt for the right to vote in a company in that they own stock. By doing this, they ensure the power to make sure that they receive all monies owed to them because they are able to bribe people into places of management. For example, Bob is a preferred stockholder who wants to ensure that his profits are paid to him no matter what happens to the company. Bob tells Tom, a man up for board election, that he will make sure Tom wins the election as long as Tom agrees to pay Bob his profits, whether the company goes into bankruptcy or not.

Adjustable Rates - Preferred stockholders receive an agreed upon profit based on stipulations provided by the company.

Convertible Stock - Preferred stockholders have the right to convert their preferred stock into common stock, allowing the investor to lock in their profit while they potentially profit from a rise in common stock. Basically, preferred stockholders are protected no matter what types of investment decisions they make.

Participating Stock - With this type of stock, preferred stockholders not only receive a set profit, but they are eligible for a certain percentage of the companys earned profit over a set period of time.

For this reason, it may seem that a preferred stockholder position is the way to go, however, with increased power comes more headaches. If you are a beginning investor, it is better to work on common stocks for a number of years before trying to get involved with preferred stocks.

Because common stocks and preferred stocks are so different, companies are not allowed to customize either type of the stocks. The reason for this is that some companies may be corrupt and want the voting power to remain with certain investors. Companies are held under law to make sure that the voting power remains fair among both common stockholders and preferred stockholders.

It is your money and your choice, however, it is suggested that you become educated when playing with the stock market. It is important to know precisely what stocks are as well as the main characteristics of a common stock as well as a preferred stock. As with any investment, the ultimate goal is to gain a profit and this can only be done with stocks if you thoroughly understand them.

Re-mortgaging look into it

Are you paying more than you need for your mortgage? If you’ve had a mortgage for a few years, do you know even what your interest rate is? Once the initial mortgage deal is done, you tend to forget about it. The payment goes out of your account with alarming regularity. If you’re on your lender’s standard variable rate, there’s no doubt that you can save money by re-mortgaging.

There’s nothing complicated about arranging to re-mortgage your property. People are doing it all the time. Apart from the simple fact that you can save money by shopping around, there are other reasons for re-mortgaging too.

Someone whose family is growing may feel they ought to look for a bigger house. If the children are settled in local schools and rising house prices prevent a move within the area, they may consider improving their current home to provide more space and better facilities. A re-mortgage could provide the money to carry out these alterations.

Buy-to-let owners might be in the same situation as you. If they arranged their mortgage a few years ago, they’re probably paying much more than they need to. By re-mortgaging they may be able to carry out necessary repairs to the property or maybe some improvements, which would potentially improve the rental income. It may even be possible to increase their property portfolio, providing the deposit and legal fees for their next investment property.

Someone paying in the region of Ј540 a month for their mortgage could have that figure reduced to Ј353. This is because you can save 2.25% on the interest rate by switching from your lender’s SVR to one of the special discounted deals which are around at present.

There are lenders who will provide a re-mortgage package which is free of fees and who make no charge for valuing your property if you’re re-mortgaging. Amazingly some will also pay for standard legal work too.

Transferring your mortgage should take about 6 weeks from start to finish. Your current lender may charge a fee to release the deeds, typically around Ј300 and there could be a funds transfer fee of Ј25.

There are three basic types of mortgages. These are the traditional repayment mortgages and the newer interest only mortgages, plus another option – the flexible mortgage.

When it comes to interest, there is more choice available. A standard variable rate mortgage means that the rate of interest fluctuates according to economic pressures and just how much your lender values your business. Recent levels have been near their lowest for 50 years

With a fixed rate mortgage, the rate is fixed so that you know exactly what your repayment will be. Unfortunately with this type of mortgage there is normally an early repayment charge, so if you find a better mortgage at some time, it could be costly to get out of the current one.

Then there’s the capped-rate mortgage. This sets an upper limit which can be charged for a fixed period. If economic conditions are favourable, then the lender may reduce rate and therefore the monthly payments will fall. Because of the security that this offers, the interest rates tend to be a little higher on one of these deals.

For the best savings in the short term, discounted rate mortgages are the ones to look for. A reduction from the lenders variable rate is made for a fixed period of time. There may be a 2% offer, which means that if the lenders variable rate was, say, 6.5%, then as long as it remained at that, your mortgage interest rate would be at 4.5%. These rates are normally offered over two or three years. The interest rate is not fixed. If the lenders SVR increases, then so will your interest rate, but for the term of the agreement, it will remain 2% lower than the SVR. The early repayment charge may apply if you decide to move your mortgage elsewhere before the end of the agreed period.

Tracker mortgages, Cashback mortgages and Flexible mortgages are also available. There are plenty of products around and the re-mortgaging market is competitive at present. There’s never been a better time to make that move.

For more details on these products and some excellent advice, the easiest move is to find an on-line broker. They will have all the information at their fingertips and will search a wide range of companies to find a deal that’s right for you. There are some good on-line discounts available too.

Home loans - choosing the right lender

The real estate market has been hot for many years. The real estate market stayed hot even though the economy has been on a virtual roller coaster. This has resulted in a large number of mortgage lenders entering the market with varying mortgage programs for people with different economic backgrounds and credit histories.

Home loans are now available for people with pristine credit, good credit, average credit, below average credit and even bad credit. There are loan packages available for people with large down payments, small down payments and no down payments at all.

For many first time homebuyers, choosing the right lender and the right home loan package may seem like a daunting task. There are so many competing lenders promising so many different things. They see advertisements for amazing interest rates and packages. Of course, those packages are only available for a small percentage of homebuyers who fit very specific criteria.

Many first time homebuyers fall into the trap of applying for home loans through various lenders offering different loan packages. While on one level this may seem like a good idea since it, at least in theory, opens up the number of possibilities for obtaining the right loan package for that homebuyer, the simple truth of the matter is these group of lenders may actually have less mortgage packages at their disposal, even added together, than some lenders and lending networks will have individually.

If you apply to a number of home loan lenders, each will invariably run your credit report. An inquiry on a credit report is noted and will affect your overall FICO score. Your FICO score is a credit score that compares you to all other people in the country with a credit history. This number can put you in certain mortgage programs and take you out of others. The last thing you want to do is engage in any activities which could lower your FICO score at the time you want it to be the highest possible.

With proper homework you can find a mortgage lender or network of lenders that will have enough loan packages at their disposal to have one that is right for you. The more they have at their fingertips the more likely it is that they can create a mortgage package that fits your unique circumstances. Even if you think your home loan will be fairly straightforward you may still benefit from a home loan lender that has a number of varying packages. Perhaps they can show you unique ways to have lower payments, avoid PMI, reduce the down payment you were going to make without it impacting your monthly payments and so forth.

Most first time homebuyers are typically unaware of the nuances involved in home loans. They are typically unaware of things like PMI, escrow payments, fixed rate loans versus variable rate mortgages and their respective benefits and drawbacks. A skilled mortgage lender will be able to explain these differences and show you a number of different options, including the option that may be right for you.

It is important to completely honest with your mortgage lender, unfortunately, too many homebuyers try to pull the wool over the eyes of the lender - this never works. In the end everything comes out in the wash - the more honest you are upfront the more options your mortgage lender will be able to review for you.

Look for a lender that clearly states that they can assist people with various types of home loan packages, including differences in credit history, employment history and down payment size. Again, the more tools they have in their toolbox, the more likely it is that they can craft the right loan for you.

Many websites now offer pre-screening services that can match you up with the right lender without each lender running your credit. Accurate and honest information is important when using these websites otherwise you may be paired with the wrong lender which will delay your getting the loan you need and could also hinder your chance to get the home you are hoping to get.

When speaking with your lender you should always feel comfortable to ask questions. The lender may not always be able to give you an instant response, but you should prefer that they find out the answer before giving you a quick but wrong answer. You should also feel that your lender is giving you honest information. If you feel like he or she is lying to you then that is not the right lender for you to be working with.

It is a good practice to provide your lender with whatever information they request. Never give them an original document and always make sure you have additional copies of anything they request. Calendar all cut-off dates they give you and make sure you stay on top of it. You will want a lender that is responsive to your inquiries and prompts you when things are needed or cut-off dates are approaching.

Picking a lender is picking a partner. You want to find the right partner for you that will be able to provide you with what you need while you provide them with what they need. Together, you and the lender will have you well on your road to homeownership and a stronger financial portfolio.

Online credit cards

Credit card offers come in the mail everyday. They all claim that you are pre approved to receive a credit card. All you have to do is call the number to apply. The problem is that once you have called, you spend weeks, sometimes months to receive notification that you have been approved or denied. This has led to the development of online credit card applications. When you apply online, you receive an answer within minutes instead of waiting long periods of time just to find that you have been denied.

A person who has good credit should have no problems obtaining a credit card online. Often you will find that credit cards online have better rates than other card companies. It is important that you know what your credit score is before you apply and using the Internet to find it is very fast and easy. Many sites offer free credit reports for consumers.

It is recommended that you check your credit report at least twice a year to catch any discrepancies.

When you are denied a credit card, it will show on your credit report. This can further damage your credit rating. It is important that you fix any problems that do not look favorable on your credit report. This may not be as simple as it sounds, however it is very important that you take care of it as soon as possible to avoid any further damage to your credit rating.

When you know what your credit score is, you can go online and apply for the appropriate credit card. It takes minutes to get an answer.

All credit card applications will ask for personal information. This includes your name, address, telephone number, social security number, age and income and employer. Failing to provide any of this information will result in a denial of the credit card.

It is important that you understand all of the terms of service before you apply for your credit card. Once you have signed the contract it is legally binding. You cannot claim that you did not understand.

The TOS will be listed on the site that you choose. If it is not, choose another site. The most important aspect is to know what the APR is for the card that you are applying for.

It is important that you research the site that you are applying to. You will be giving your personal information online, and you want to make sure that it is a secure site.

An encryption of anything less than SSL 128 bit is leaving yourself open for identity theft. This encryption level is the standard and is considered to be “hacker proof.” Thereby ensuring that your information is safe and secure.

When you have finished filling out the application, double check it to make sure there are no errors. Once you send it, you will have your answer within minutes. Most companies will notify you on screen; however, some will send an answer in the mail. If your application is denied, than you will receive notification and the reason why.

When your application is approved, you will receive your card within a few days. It is sent through the mail and available to use upon activation.

It is now easier than ever to apply for a credit card. When you use online methods, your answer is just a mouse click away. It is no longer necessary to wait weeks to get an answer to your credit card application.

Credit card types unsecured

There are two basic credit card types: secured and unsecured. This article explores some of the issues associated with unsecured credit cards.

First, what is an unsecured credit card? An unsecured credit card is a card (and credit line) that does not require any security deposit from you. These unsecured credit cards are generally intended for those people with a fairly good credit history.

Nearly all unsecured credit cards will come with a credit limit. This is the total amount of credit that you can charge to the card. If you go over that limit, you may be penalized. The actual amount of the credit limit is determined by the card issuer and it does not have to be same for every person. In other words, one person may have a limit of $500 while another may have a limit of $5000.

There are some important issues associated with an unsecured credit card that consumers should understand. A few of those issues include:

The Grace Period: You should read and understand the grace period that applies to each of your credit cards. The grace period is the amount of time that you have to pay your balance before the card issuer begins charging you interest on the balance. If you pay your balance in full before the grace period ends you will not be charged interest. Each company has its own amount of time for grace payments so be sure you read each company's policy.

Annual Fee: Before you apply for an unsecured credit card see if the company charges an annual fee. This is a yearly fee that is charged to your account or may have to be paid in advance. Annual fees are more often associated with secured credit cards but you may see them with unsecured as well.

Balance Transfer: Your unsecured credit card may offer what is known as a balance transfer. A balance transfer is when you have an existing balance with another company and you transfer that balance over to the new card.

Why would you do this? If the new card has a substantially lower interest rate you can save money.

Annual Percentage Rate: Of particular interest to anyone who plans to apply for or use an unsecured credit card is the APR that is associated with the card. This is the amount of interest that the company will charge you if you do not pay off the full balance within the grace period allowed. As you might imagine, the lower the ARP, the less you will have to pay in interest charges.

Finance Charge: Your unsecured credit card may include finance charges that are above and beyond the APR. Finance charges are most often triggered when you take out a cash advance. Again, make sure you understand these charges before you use the card for purposes that trigger added finance charges.

Gold or Platinum Cards: These cards usually carry a higher credit limit and may come with some extra benefits or reward programs. These are nice to have but make sure you are not paying extra for something that you will not use.

How to avoid speculation in shares and the forex

In the vocabulary of investment, "speculation" is a nasty word.

It suggests gambling, insecurity, long shots, luck, and similar improprieties. For old campaigners it stirs up memories of the 1929 unpleasantness, as damp weather tweaks the rheumatic joint. And, worst of all, it seems synonymous with money lost. For every speculator who pulls a coup, we hear, there are 99 who live to rue their recklessness, to bemoan the hard-earned dollars foolishly and irretrievably cast down the drain.

The New York Stock Exchange labors long and hard to encourage a sober, sensible attitude in investors. Conscientious brokers steer their customers away from situations bearing a speculative tinge. The literature of investment inveighs against empty-headed avarice, blind faith, and other vagrant impulses that lead the innocent into ill-starred ventures.

If fear breeds caution, all well and good. For speculation can be extremely hazardous, particularly for the new investor, which means in most cases the person who can least afford it. And certainly speculation, as it involves cheap, shadowy gold-mining or uranium stocks, is little better than throwing dice or picking horses.

But speculation is a term of many dimensions, and it is useful for investors to understand them, rather than simply bow to the taboo

By the more conservative canons of Wall Street, for instance, investment in anything except the highest grade bonds is speculation. This is strict interpretation of the dictionary definition of the word as an undertaking in which a large risk is borne in the hope of a large profit. In this sense, almost any common stock, dependent as it is on net earnings, entails some risk, some speculation.

This is fairly rigid doctrine, however. It is a premise of this article that with care and attention the investor can find satisfactory common stocks as free of risk as any other form of property in an uncertain world. It then comes down to a question of the investor's objective.

The investor, by and large, is in for the long pull. The speculator, characteristically, is a short-term, quick-turnover man. He is interested in speculative situations and makes use of speculative techniques.

Many of them are commonplace. All of them are legal. But they usually require more capital than the new investor can bring to a transaction and they invariably demand shrewd judgment, complete familiarity with market procedures, and considerable nicety of touch in the timing of purchases and sales. In expert hands, they are useful tools for the creation of wealth. In the hands of the novice, they are—as Samuel Goldwyn said of the H-bomb—dynamite. They should be understood—and avoided.

Buying on Margin

Perhaps the most familiar speculative technique is buying on margin, which is utilizing credit, in the form of a loan, to acquire more stock than your cash-in-hand will purchase. Let's say, for instance, that you have $4,500 and are interested in a stock selling at $50. Ordinarily, of course, the most you could buy would be 90 shares.

Through margin buying, however, you could borrow an additional $500 from your broker and get 100 shares.

Is this good? Well, it's not bad. The 10 extra shares give you an increased equity, 10 more shares on which to realize a market gain. You will also get perhaps $20 or $30 in additional yearly dividends.

You have saved $20.50 in fees and commissions, since the cost of a round lot is only $44, while a 90-share odd lot is $64.50—$42 for the broker and $22.50 (ј-point or $.25 a share) to the odd-lot dealer. And, finally, your $500 is obtained on a call-loan basis, which means 4- to 6-per cent interest (depending on how big and active your account is) and no particular payoff date. Even at 6 per cent, your interest charge would be only $30 a year, an amount quite possibly covered by the dividends received on the extra shares acquired.

The advantages of margin buying, while interesting, are not in this instance impressive. This is because the so-called "margin requirement"—the amount of cash the buyer must put up—is determined by the Federal Reserve Board and at present is pegged at 90 per cent. In other words, you can borrow from your broker no more than 10 per cent of the dollars involved in any single transaction. The margin rate is variable, and is used by the Board to help maintain the stability of the market. At the higher end of the scale, margin acts as a brake on speculative or inflationary tendencies. At the lower end, it represents a loosening of credit and acts as a spur and an encouragement to investment when money is scarce.

The lowest rate ever permitted by the Board was 40 per cent, which was in effect between 1937 and 1945. Here, of course, was a period that began with two recession years, picked up briefly, and then was arrested by World War II. Taxes rose, capital was elusive, and profits were restricted. To coax money into the market place, a low cash requirement and a high borrowing capacity were allowed.

By 1946, however, conditions had changed. The postwar boom was beginning. Money was plentiful, goods were scarce, and the inflationary pressures were building. For thirteen months, from January, 1946, to February, 1947, the Board held the margin requirement at 100 per cent.

At lower rates, margin buying becomes quite attractive. If you had had your $4,500 to invest during the 40-per cent period, you could have borrowed the other 60 per cent — $6,750—and acquired 225 shares of $50 stock, instead of 90. On a $2 return, your dividends would be $450 a year, rather than $180. But more important, if there were a 10-point rise in the stock to 60, your 225 shares would bring $13,500. Paying back your $6,750 loan and subtracting your original $4,500 investment, you would have a profit of $2,250 (less commissions). The same 10 points on 90 shares would increase their value to $5,400, or only $900 more than you started with.

A fat capital gain like this is the real point of margin buying. A 10-point rise is not too difficult to find in a bull market. It is quite possible for the speculator to be in and out before the interest on his borrowings amounts to more than a few dollars. In such cases, he has had virtually a free ride.

Forex is quite speculative as well, but to help you avoid heavy losses and maximize your gains it is well worth downloading some of the excellent Forex software that is available.

How to find no medical life insurance rates

Obtaining a term life insurance policy without having to take a medical exam is an attainable goal. There are plenty of options available to you regarding no medical term life insurance; all it takes is knowing exactly where to look. Life is the most sacred thing we have, as well as being the most important to the loved ones around us. Commercial term life insurance companies offer several different kinds of term life insurance products in an attempt to better subsidize the loss of life or the life of a loved one. However, there is a wide variety of insurance plans available, so therefore, a number of different requirements involved. Because of this however, the recent trend in no medical life insurance has become an even better option worth pursuing.

Term life insurance plans have always been a feasible way of securing the financial stability of your loved ones for the future. Purchasing no medical term life insurance may appear to be an expensive prospect in the beginning, but buying this type of term life insurance is probably one of the most important and most practical investments that you will ever make in your entire life. Not only are you protecting your loved ones by purchasing a no medical life insurance policy, but you are also creating peace of mind for yourself.

Types of No Medical Life Insurance

There are two main types of no medical life insurance: no medical whole life insurance, and no medical term life insurance. Term life insurance tends to be more economical when it comes to premium rates, because it only covers a particular period of time, but people still tend to opt for this type of coverage. Term life insurance is considered a better option as it can present a much more comprehensive form of coverage without forcing you to give up other options in the process. What term life insurance does, is allow the policyholder to make small payments toward the insurance policy, rather than the larger payments required by other life insurance companies. In times of crisis, it’s a much more economical to pay into term life insurance as a much more appropriate investment.

No Medical Term Life Insurance

Many term life insurance plans typically require that you undergo a thorough medical examination before your coverage kicks in, to safeguard the investment being made by the insurance company. It is actually a well-known fact that anyone who is in poor health is going to try to pursue term life insurance as a method of obtaining life insurance. Insurance companies want to avoid clients who they will obviously have to reimburse, which is why they tend to require medical examinations for anyone who is purchasing a policy. This is why no medical term life insurance is becoming so popular!

Medical examinations protect both the insurance company, and the policyholder. This is because an insurance company can better tailor your insurance benefits based on your medical needs. However, because many people view medical examinations for insurance purposes to be cumbersome and unnecessary, opting for a no medical life insurance policy is an excellent option to pursue. There are many companies out there that offer term life insurance without requiring a medical test, all it takes is learning how to find them. The first step in locating these insurance companies is to do your homework by searching online, asking around and even checking your local area through the phone book or referrals. The second step in the process involves shopping around and comparing all of your options for no medical term life insurance before you select the right insurance provider. Visit equote. com/li/nomedicallifeinsurance. html to learn more how you can obtain no medical life insurance.

Student loans for those with bad credit

When it comes time for you to start college, you really do not want your bad credit to get in the way. The good news, too, is that it does not have to. You still have access to a number of loans - and at reasonable rates. Here is some information to tell you about what kind of student loans are available to you.

One thing that should help you to relax some is that a number of available college loans from the government do not even look at your credit rating. They tend to make the assumption that applicants are fresh out of high school and have not had any time to even think about their credit rating - let alone build a decent one. One of these is the Stafford loan, which allows anyone to apply.

The Stafford loans come in two different types - subsidized and unsubsidized. The subsidized version of this loan is based entirely on the need the student has for that year. If you get the loan, you must also apply each year that you need the benefits. One nice thing about this loan is that it pays your interest while you are in school. The unsubsidized version is available to any student - regardless of your need.

Another Federal loan that does not require good credit is the Perkins loan. This loan is made available to students through their entire college years. It can be provide amounts up to $4,000 per year, for a total of $20,000.

Both of these loan programs should be looked at before you look anywhere else. When it comes to interest, any Federal loan program will be lower than anywhere else. This means it will provide you with the most savings over the years that it will take to pay it back.

One school loan that could also help you to subsidize that education, even if you have bad credit, is an OSL loan. These private loans are more expensive than the Federal schools loans, but remain less expensive than your more standard traditional personal loans. They are not backed by the Government, but at the same time, will give a higher percentage toward your education goals than the Federal loans.

Another way to get a loan for your education, even though you have bad credit, is to get a PLUS program. This loan actually needs to be made by the parents of the student. Since the student is not actually applying, the basis of the interest rating will be on that of the parents and not on the bad credit of the student.

Other loans are available to those with bad credit. Some of these will apply to the special field of education, such as medical, etc., which can be obtained as personal loans. When it comes to getting any other kind of loan, other than Federal, be sure to do some comparing to see which one is the best. In many cases, it will be necessary to get loans from different sources in order to complete your education.

Why you should refinance your credit card

Getting the Right Rate Can Save YOU Thousands

A credit card debt can be like the worst sort of trap. Like a wound that won’t heal, a monthly minimum payment – with ceaseless regularity and endless strain on your budget – leaves your account. It’s to pay for the Christmas shopping, or the last July 4th party, or your holiday two years ago. You don’t know; frankly you care less – you just want to see it gone. But when your next statement arrives, the hole your minimum payment should have burned in your debt is no smaller – the sore remains unclosed.

Is this situation familiar? Is it you?

If it is, you’ve not heard the worst of it yet. The way that credit card companies exist and thrive is by exploiting your debt burden. They’ll lend and lend and lend, until you get to the point that the most you can pay back each month is the minimum payment – usually around 2.5 per cent of the balance. The problem with this is that they hit you with a load of interest, sometimes amounting to 2 per cent of the balance. If only one half of a per cent is being paid back it doesn’t take much math to figure out the amount of time it could take you to pay back your debts.

In fact, if you’re paying repayment insurance, in some instances you can pay back less than the amount of debt accumulating.

It’s a horrible, self-perpetuating cycle of hemorrhaging money, but the good news is twofold.

First off, you’re not alone. Thousands upon thousands of decent, hard-working Americans are in this position through no fault of their own but necessity and the demands of modern living.

Secondly, if you’re stuck in this horrible cycle of bleeding money, the chances are that it can be at least partially redressed. Many Americans have – and still do – unwittingly signed up to credit card deals that are uncompetitive, over-priced and unnecessarily expensive. What many don’t realize, is that simply because you have pledged allegiance to a particular credit card company doesn’t mean to say that you are stuck with them for life. There’s a way out that can save you hundreds, if not thousands of dollars a year and help you pay off your debt burden more quickly.

Transferring the balance of your credit card to another one is a way of paying off your existing debt with a new credit card that you take on at a cheaper rate. In many cases this can be set at 0 per cent for a period of a number of months, before reverting to a higher rate. By switching to such a card – and then another at the end of the interest free term, and maybe even another after that, it gives you a clear run at reducing your debt, without it spiraling ever further upwards. Even if you’re still only paying 2.5 per cent off the balance a month, far better to do that than knocking off one half of a per cent, or less.

By bundling up the old expensive credit card debt, getting rid of it, then paying back the new credit card at a lower rate, you can save countless dollars each month. You can save even more money by paying a bit more each month, thus clearing the debt in a shorter time. By doing this you’ll free up more dollars further down the line enabling you to spend them on something really nice.

Unfortunately, 0% deals are not always available to all customers. If you’ve got a credit rating that’s in some way below scratch, it is probably unlikely that a 0% credit card will be made available to you. It’s a sad fact of finance that the best deals seem to always be available for those who need them the least.

That said, there are a number of other excellent credit cards on the market through which you can save many dollars. Even if a balance transfer rate is as high as 10 or 12 per cent, if you’re paying upwards of 20 per cent on your existing deal then you’re clearly going to save a stack of money – even if it’s not as much as you might have liked.

If you’re concerned about how much you’re paying each month on your credit card repayment it certainly pays to check out your existing interest rates and compare them to some of the balance transfer rates available at competitors: it’s almost a certainty that you’ll save yourself more than a few dollars.

Even if you’re not worried about your existing credit card deal, it’s worth checking out the market to see if you can get a better deal. Complacency doesn’t pay, but a bit of awareness can save you a lot.

How to compare low cost car insurance in arkansas

If you want to drive a vehicle on any public road in Arkansas then you must buy car insurance. If you don't, and you're caught, the penalties are severe and can include the loss of your driving privilege for a considerable length of time.

In fact, Arkansas has a computer program which tracks every single registered vehicle in the state – and if an insurance policy is canceled on any vehicle and not immediately replaced, the state of Arkansas can automatically revoke the vehicle's registration, making driving that vehicle a major offense.

What this all boils down to is that you must buy car insurance. Which means you need to compare low cost car insurance in Arkansas so that you can find the very best policy for you at a price that you can afford.

Fortunately there are several things you can do to help keep the cost of your insurance affordable.

First is the way you drive your car. If you choose to speed, or you choose to drive while intoxicated or under the influence and you are caught, then you have no one but yourself to blame for the fact that your car insurance rates will have shot through the roof.

By the same token, if you hardly drive your car at all, perhaps just a trip or two to the grocery store, a trip each month to the doctor's, perhaps a trip to visit a friend, then you may qualify for a Low Mileage Discount. Check with your agent as the details of this discount vary slightly between insurance companies.

Do you drive an older car? Perhaps one with little or no Kelly Blue Book value? If so you are probably wasting your money if you pay for collision or comprehensive insurance since your insurance company will not pay you more than Blue Book value if your car is damaged.

Before you buy a new car check with your agent to see just how much that shiny piece of metal is going to cost you each month. From an insurance standpoint not all cars are created equal; some cost a lot more to insure than others.

Are you under 25 years of age? Then you already know that you're considered a bad risk and your rates are probably higher than your parent's rates. If you can, stay in school and maintain at least a 3.0 grade point average. This should qualify you for a 5% to 15% Good Student Discount on your monthly premiums.

Are you an older driver? If you're at least 55 years old then you may want to talk to your insurance agent about the possibility of taking a special driver's refresher course. Not all companies offer such a course, but if yours does and you pass, you could save at least 10% on your insurance premium month after month.

How large of a deductible can you afford? Be honest with yourself, because if you have an accident you will have to pay your deductible out of your own pocket before your insurance company will pay anything. The good news is, the more you can afford to pay for repairs – i. e. the higher your deductible – then the less you'll have to pay each month for your insurance.

Finally it's time for you to get online and start checking car insurance policies and prices among the various car insurance companies here in Arkansas. Don't think, however, that you can compare all of the insurance companies on just one site, because you can't.

If you really want to compare low cost car insurance in Arkansas and make certain that you are getting the best deal possible, then you are going to have to make comparisons on at least 3 different websites.

It's a lot of work, but the result is that you will keep more money in your pocket each time you make a car insurance payment, and that money just keeps adding up, month after month.

Understanding personal insurance health options

It pays to have a thorough understanding about the personal insurance options available for health care insurance because some require out of pocket costs before any type of health care will be provided. Heath care insurance plans such as a HMO charge every member for the contract services they arrange with physicians and primary care facilities. After the monthly premiums are paid, the person is no longer responsible for any payments for the HMO services they receive.

An HMO health insurance plan works well if people are able to use the care providers that are part of the HMO network. The Health Maintenance Organization styled insurance is accepted by hospitals, and the medical care which is provided is under a strict service agreement where a set price is negotiated for all medical services. Any type of health professional that provides care in a medical facility in this network is expected to honor the pre-arranged treatment pricing and not expect full priced payments for any of the services that the patient obtains.

The Preferred Provider Organization works a bit differently in providing health care coverage to people that are part of their plans. PPO insurers negotiate contracts for certain services through physicians and other health care professionals. The insured has the option of using the preferred providers or accessing physicians that are outside of the network. The financial benefits for using the physicians in the network are substantial because the insured is expected to pay a fee for every service they receive.

Some families prefer to use a specific physician for their specific needs. To gain the financial benefits of a managed health care plan, however, the family physician must be on the list as a primary care physician for that network. The patient has more control over which physician they choose to treat them, and when care is needed, they know that the physician has agreed to provide them with care for a specific price. The insured know in advance that they are expected to pay a fee for each service that they receive and they will know the cost before care is provided.

Most people want to know certain things before they join a particular health care network. Some require deductibles to be paid for each office visit and other health care plans require the insured to pay monthly fees to help cover the health care services that they will receive in the future. Each plan has a listing of all health care providers who are part of the network, and some people with certain health conditions want to make sure that there are enough providers in their local area to treat the condition that they have.

Some health care insurance coverage is designed to be supplemental insurance and will not have sufficient coverage to pay for the high costs generated by major illnesses. Some families need two or more health insurance policies in force at all times because of these ceilings placed on covered costs. At best, an insured should expect to pay about 20% of all health care charges, but by comparing plans with specific health needs, there are ways to save money and not worry about incurring any out of pocket costs for any medical care received.

What are fha commercial loans

FHA Commercial Loans are government guaranteed or sponsored loans that are offered by financial lenders and guaranteed by the FHA or Federal Housing Authority. FHA commercial loans are available for buyers with limited cash or credit problems.

Borrowers are required to qualify for the loan and must go through an application process and subsequent approval. Along with other pertinent information, potential borrowers must provide the following: description of the property, loan amount, and a brief description of the intended purpose of the property.

With an FHA loan, the financial risk to the loan is assumed by the FHA, not the borrower or the lender. Plus, the borrower only needs to put down a minimal amount of money and someone other than the borrower can pay the closing cost.

The FHA or Federal Housing Authority provides insurance on mortgage loans that are made through FHA-approved lenders. These lenders can be mortgage companies, banks, or credit unions. The insurance on an FHA loan protects the lender against financial losses. Such losses might result if the borrower defaults on the loan and fails to make his monthly payments.

FHA loans are typically given to individuals with low or moderate incomes. Such individuals often have difficulty securing such loans and the FHA provides the insurance needed to secure the loan. FHA commercial loans make it possible for those without high income to invest in property or commercial projects.

FHA commercial loans typically involve a lower down payment expectation than that found with conventional loans. Additionally, no private mortgage insurance is required since the FHA provides a loan guarantee. Commercial loans provide the funds to keep a project running smoothly and profitably. FHA commercial loans are available for those who would not otherwise qualify for conventional loans.

It is still important to shop around for the best rates for FHA commercial loans. The FHA does not set the interest rate. The individual lenders set the rates. Therefore, if the borrower shops around, he might be able to obtain a more agreeable interest rate.

If the borrower’s credit history and credit score are not the best, he would find it more difficult to obtain a conventional loan. Although FHA loans do require that the borrower has a fair credit score, it does not need to be flawless. Limits are set for the amount of money that can be borrowed. Plus, the borrower needs to have a reasonable debt to income ratio. FHA commercial loans make it possible for lenders to offer money to people with less than stellar credit histories, while protecting the lender against risk.

It is the bankruptcy court that handles all matters relating to bankruptcy

Article III of the U. S. Constitution establishes the judiciary as one of the three separate as well as distinct branches of the federal government along with the legislative and executive branches. Federal courts are considered the guardians of the Constitution because their rulings help protect the rights as well as liberties as guaranteed by the Constitution. An independent judiciary is fundamental to obtaining fairness as well as justice for all citizens of the United States.

94 Federal Judicial Districts

There are 94 federal judicial districts that have bankruptcy courts that handle all matters relating to bankruptcies. It is not possible to file a bankruptcy case in a state court, and bankruptcy laws help people that cannot pay their creditors get a new start through the liquidation of their assets in order to pay off their debts, or through the creation of a repayment plan.

Bankruptcy courts and laws work together in order to protect troubled businesses as well as helps in providing orderly distribution to business creditors through different means including reorganization or liquidation. The procedures that need to be followed in a bankruptcy court are covered under Title II of the Bankruptcy Code. Most cases that are filed fall under the three main chapters of the Bankruptcy Code and these are Chapters 7, 11 and 13.

The United States bankruptcy court is a federal court that deals with all manner of bankruptcy cases, and bankruptcy judges in each of the 94 federal judicial districts in regular active service constitute a “unit” of the applicable United States district court. Bankruptcy judges that preside over the bankruptcy court cases are appointed for a fourteen year term by the United States court of appeals.

In technical terms, the US district courts are authorized to handle bankruptcy cases, though each such district needs to refer bankruptcy matters to the bankruptcy court. Initially at least, all matters relating to bankruptcy are handled by the bankruptcy court.

However, if circumstances are unusual, the district court can withdraw the reference or take the bankruptcy case away from the bankruptcy court and decide upon the matter itself. Most of the bankruptcy matters are handled by a bankruptcy judge sitting in a bankruptcy court who may pass decisions on these matters which will be final except for appeals to the district judge who may review such decisions.

Understanding debt consolidation loan and mortgage refinance options

Perhaps the one thing that many, many people have in common today is a problem with finances. In fact, many men and women have found themselves struggling with ever mounting and growing debt. They find themselves wondering if they will ever be able to get their financial houses in order. By way of this informational article, you are provided with information about what you can do to bring a sense of control over your finances. In this article, you will be provided information to help you understand what options you’ve available to you when it comes to the matter of debt consolidation loan and mortgage refinance options.

When it comes to debt consolidation loan and mortgage refinance options, you will want to keep in mind the very lender through which you have your current mortgage. That might sound strange to you, particularly if you’ve had some problems making timely mortgage payments. However, a home mortgage lender will want to take steps in many instances to keep your business. Your current mortgage lender may have at least some sort of debt consolidation loan and mortgage refinance option that it might be able to make available to you.

There also are many lenders that specialize in debt consolidation loan and mortgage refinance options for people in your position. You may find yourself well served by contacting a lender that specializes in debt consolidation loan and mortgage refinance options.

You can access these types of lenders that specialize in debt consolidation loan and mortgage refinance options both online and in the real world. You will want to make certain that you are dealing with a debt consolidation loan and mortgage refinance lender that is experienced, reputable and reliable. You do not want to become associated with a bad operator when it comes to your search for a debt consolidation loan and mortgage refinance options that might otherwise work for you.

In this day and age there are also debt consolidation loan and mortgage refinancing brokers that specialize in assisting people like you. You may want to engage the services of a debt consolidation loan and mortgage refinance broker specialist to aid you in finding a debt consolidation loan and mortgage refinance option that actually will fit your particular set of circumstances. You usually will not have to pay anything to the broker to aid you in finding a debt consolidation loan and mortgage refinance options that you can consider.

Finally, because there are variations in the interest rates, fees, costs and other charges associated with different debt consolidation loan and mortgage refinance options, you will want to spend some time shopping around for the proverbial best deal . By doing a price and cost comparison, by taking the time to shop around, you will be able to find a debt consolidation loan and mortgage refinance option that actually will meet your needs. You will be able to find the debt consolidation loan and mortgage refinance option that makes the most economic and financial sense for you, a loan package that will work for you today and down the road into the future as well.