Selasa, 22 September 2009

Mortgages in Age-Based Communities

by: Rachel Jackson

Mortgages themselves can be very confusing, and difficult to figure out. However, when dealing with mortgages, something to remember is that different banks and different communities are often going to have deals that you might be eligible for. It is important to look into all options available to you; so that you can be sure you have made the right choice when it comes to mortgages.

One of the options that you might have – without even knowing it – is the option of having a mortgaged in your age-based community. If you are of a certain age, in many states and areas, you are eligible to live in an age based community. This might mean a retirement type community, and it could even mean an assisted living community. However, it could also be a gated community that is only meant for persons of a certain age. All of these communities will have different rates when it comes to home prices, and most of them will have special mortgage deals that you can apply for through a participating bank.

Mortgages in aged based communities work the same way as regular mortgages. You are purchasing the house from whoever owns it, so you will apply first for a mortgage through a bank. The firm will take into account your financial status at the moment, and the amount of money that you are bringing in, and if you are approved for the mortgage, you can buy the home inside the age based community. A mortgage rate will be set, as will monthly payments, and you will be able to pay your monthly rate and continue to live in your home. For the most part, mortgages in aged based communities work the same as mortgages in regular communities. However, there are going to be some differences for you.

The first difference is that often with age based communities, you are buying homes from the community or from the association, instead of from an owner. Often, the homes will carry a different type of price tag because of this, as the community will set their own price. Therefore, you might end up paying more or less for a home in an age based community, based on other factors within your mortgage. However, you will have some good trade offs, as well. Most of the time, in an age based community, you'll have the chance to take part in the association, which might take care of your lawn care, care on your home, and other types of things that might come up. Many people love to live in association run areas, because it means that they are able to do less work for themselves, even as they own a home. If this is the type of life that you are looking for, getting a mortgage in an aged based community might be right up your alley.

Another difference between getting a regular mortgage and getting one in an age based community is that often when you are looking at a mortgage in an aged based community you are going to be on a fixed income, like retirement benefits or social security. Unlike a regular mortgage, your income isn't going to change and so you need to have a smaller payment so that you can afford to make it each month. Therefore, may banks work with age-based communities to ensure that those applying for mortgages within them are able to afford the loan that they get. If you are approved to move into an age based community, you will most likely also be approved for their financing programs through the banks and lenders that they work with. If this is the case, you will end up with a smaller mortgage payment, or with a reduction in fees, depending on what their policies are.

For many citizens, this ends up being the reason that age based communities are the best places for them to live. For you, it might just be the greatest way to spend your years. Living in an association run, age based community will allow you to have the home of your dreams, in a community that you feel comfortable in. If you can get a good deal on your mortgage at the same time, why no enjoy the benefits that come with age!

Mortgage and Our Economy: What It Means For You

by: Rachel Jackson

The economy is in the midst of the worst slump for generations, and we are beginning to rethink our financial structures and the way that we handle money. One thing that has not changed much, however, is the fact that we need a place to call home, and it is still a worthwhile investment to own one.

In fact, now may be the best time to buy a home, with prices lower than they have been in many years and mortgage companies desperate to find buyers with good credit and a down payment to their names. For anyone who has been renting, saving, and building their credit up over the last few years, the time is ripe to look into a new home purchase.

Fallout from the Economic Downfall

In addition to the tricks of investments that seemingly create money out of nothing, the economic trouble was spurred on by the explosion of the bloated housing market. Mortgage companies would issue mortgages to people whose income would not support those loans in the long term. These loans were designed to start out with incredibly low, often interest only payments, which eventually would blossom into much larger payments. The idea was that the home buyer would refinance before the terms of the loan changed, but this was not often possible for the buyers in reality.

Some mortgage companies went even beyond this particular practice to blatantly illegal activities, falsifying income proof and other documents on “behalf” of buyers in order to get them into more and more expensive homes. These loans were highly dangerous, but the mortgage companies had a plan for that, too, bundling the rotten mortgages into groups and selling them off as investment opportunities that were touted, falsely, as low risk.

As buyers slowly came upon the end of the fixed rates on their loans or to the end of their interest only payments and were unable to refinance, a trickle of home owners began to foreclose. When this trickle became a flash flood of foreclosures, the real estate market and the economy that it was propping up began to tumble down.

What that means for you

As the economy started to falter, the house prices all across the country dropped dramatically, which means that almost anyone not caught up in a disadvantageous loan has the chance to participate in the economic recovery by buying a house. At first mortgage companies closed the doors tight to new loans unless they were extremely secure, but they are beginning to open up again to reasonable loads for home buyers.

With a good credit score, and a decent down payment, it is now a perfect time to take advantage of the rise of the housing market from the dead and buy a foreclosed or empty property, sometimes for less than half the price it was selling for a few scant years ago. Over time these properties will slowly recover their value, and in a decade or so you may have doubled your investment.

Things to watch out for

It goes without saying that you do not want to be one of the unfortunates in the next potential round of foreclosures, so there are some things that you should watch out for when you are getting a loan. Beware, for example, of mortgage companies that try to talk you into taking a mortgage that you are worried about being able to afford.

It is also important to take on a load with a fixed rate that will be affordable to you in the foreseeable future until the loan is paid off (and consider a term life insurance policy to help your loved ones pay off the house should something happen to you before it is done.) Think twice or more about any loan that is temporarily fixed, as payments can jump quite a bit when the fixed rate term is up, and do not ever sign the papers for a mortgage which you can only afford by refinancing in a few years unless you have fully considered the repercussions of being unable to get a new loan when the terms change.

There is a lot to consider when buying a house, and considering can lead you to wait longer than is advisable before you make your move. The time is right to go home shopping in this new economy, and what that means to you is the potential for security and a wonderful investment in your future.

Current Mortgage Rates and How They Affect You

by: Rachel Jackson

To some, the interest rate is a rather meaningless number that seems to change on an almost daily basis. However, if you are applying for a credit card, buying a new car or applying for a mortgage, this number can significantly affect how much you are paying every month and over the term, or length of your loan. At the time of writing, mortgage rates are low and it is a good time to buy a home, or refinance an existing mortgage at a lower rate.

The interest rate is defined as the amount of money it will cost you to borrow a certain amount of money from a bank or lender. It is virtually impossible to accurately predict mortgage interest rates; one of the biggest factors that influence them is simple supply and demand. If more people are buying houses, more money is being borrowed, which means that lenders can charge higher rates to borrow the money. In a slow economy, less people are borrowing money, rates are generally lower to attract customers, and there is more money to lend.

The mortgage interest rate affects you both in the short term and the long term. A rate that is lower means that your monthly payments are lower; it also means that over the term of the mortgage, you are paying less. Whereas the traditional mortgage is taken out for a period of 30 years, a lower rate means that you may perhaps be able to take out a shorter term mortgage, of 20 or even 15 years. Also, it means that you will own your home outright, sooner rather than later – a big advantage.

The total amount that you will end up paying for your home can potentially vary a great deal with even just a small change in the interest rate. A reduction in the interest rate of just one point can mean that a homeowner with a traditional 30 year mortgage can enjoy average savings of around $50,000 over the term of their mortgage. And a small increase in the interest rate of just one or two percent can result in monthly payments that are anywhere between $50 and $250 higher, depending on how much your home cost to begin with.

When it comes to buying a home and taking out a mortgage, you basically have two options – a fixed rate mortgage (FRM) or adjustable rate mortgage (ARM). An FRM is the safer and more stable option - the interest rate on the loan doesn’t change, regardless of whether interest rates in general go up or down. The obvious disadvantage of an FRM is that the interest rate may be lowered; resulting in you making higher monthly payments than you would otherwise be doing, unless you refinance. It’s estimated that around 70% of all homebuyers today take out a fixed rate mortgage, rather than go with the riskier adjustable mortgage.

If you have an FRM at a higher interest rate and rates go lower, your only option to take advantage of the lower rate is to refinance. Some financial experts will tell you that it is only worthwhile refinancing if the interest rate on your new mortgage will be at least 2% lower than your current rate, although of course the decision whether to refinance or not is up to you. You should also take into account how long you are planning to stay in your current home – if you are planning to move within a year or two, it probably doesn’t pay you to refinance.

An ARM is the riskier of the two options – as the name suggests, the interest rate can vary, depending on the interest rate at the time, meaning that your monthly payments may be higher or lower. If you have a good rate to begin with and you can afford to pay the extra payment should interest rates rise, this may be a good option for you. If an increase in interest rates will hurt you financially – or if you are just the cautious type who doesn’t like to take risks – an ARM loan perhaps isn’t a good idea.

So if you are applying for a mortgage, pay particular attention to the all-important interest rate – it can potentially save you or cost you a lot of money over the next 30 years.

Bad Credit Lending Solutions Offers Loans for People in Need

by: Willie Tomlin

Times can be tough from day to day. When day to day financial problems rear their ugly heads it is time to take action. A simple matter of just being short from time to time is usually resolved easily. If it has gotten to the point that phone calls have to be screened due to bill collectors then there is a problem. Badcreditlendingsolutions are interested in helping any person with less than stellar credit. Every possible effort will be made to make those crazy days turn back to happier days.

Everybody in financial distress needs a company that is steadfast with help for future peace of mind. It is helpful to prepare the way for help. Taking all the bills and organizing them helps in the review process. If the need is apparent for help from badcreditlendingsolutions then staff will be ready to step right in and look for solutions. Ideally, the phone will calm down and everyone involved will feel better. After all-creditors are happy when they get their money and those in debt are happy to be freed up to make more money or simply to enjoy life more.

Just as much as it took to get into trouble with money there are always ways to get out of trouble. With the caring assistance of badcreditlendingsolutions it is possible to work out ways to pay loans off. These are the experts to turn to when trouble is barking at the door. They can help and teach about ways to turn bad credit into good news. There is hope when people like this are able to help with bad credit personal loans. Worst case scenario is to dig deeper in those pockets and pull up lint. Best case scenario is to get help to pay off those heavy bills and breathe easier.

Many a good night of sleep has been experienced due to money woes. Tossing and turning about how to get out of a mess is not going to do any good. For real anxiety relief it is going to take action. Action that involves badcreditlendingsolutions is the kind of action that takes people places. There is nothing as bad as it seems when someone with trained eyes will be able to look over any situation and offer solutions. While it may take effort to make a difference it will be well worth all the time it takes to make a better life.

The Boost You Can Get From Bad Credit Credit Cards

by: Willie Tomlin

Difficult financial times can happen to anyone and when a person's credit rating is damaged by an imperfect credit payment history, there can be very strict consequences. A personal bankruptcy will also affect the ability for many people to qualify for a credit card. There is a way to rebuild your credit rating and to show you can responsibly handle credit cards and that is by getting one of the bad credit credit cards that will hold a security deposit on account and issue you a major credit card that can help you begin to build a credit history that shows responsible payments that are on time.

There is a large variety in the types of bad credit credit cards and you must be quite sure to read everything that is with the application. Some of those cards may require you to pay a fee for the year and there are others which will have no annual fee. There could be charges applied to you for charging over your limit, so be aware of that provision and still other cards will have you pay large penalties if a payment is not received on time by the credit card issuer.

The entire reason you get one of the secured or bad credit credit cards is so that you can show that you are now on track with being on time for all payments due on this new account. You need to be sure that the card you choose will be frequently reporting to all three of the major credit bureaus. You need your good, responsible payment behavior to work for you and help you rebuild the good name you want for the future. If there is a choice between a card that will be reporting to the credit bureaus and one that will not, you would be wise to choose the one that will report.

The advantage of the bad credit credit cards is that you do not have to worry about being accepted for them, you will find it effortless to qualify for these cards. The important thing is to be sure you are aware of the contract you are signing and the fine print that may contain information about hidden fees and charges.

Rabu, 16 September 2009

3 Tips to Successful Small Cap Stock Investing - Profit 500% in 30 Days With Less Initial Investment

By Shaun Patrick Davidson

It might be said in the financial world that small cap investing is a risky proposition. That might have been the case if inexperienced investors or traders did little research in finding the right stocks to buy. Moreover, as the world is emerging from a recession, a lot of those small cap companies have gone by the wayside. Being that their company's product or service is too competitive out in the marketplace, there is this "checks and balances" process happening to help eliminate some of those smaller outfits. Therefore, enabling complete investors to swoop in and take advantage by buying these so-called recession proof stocks. Here are some tips to utilize to find the right small cap stocks and cash in on instant profitability.

1. Research a niche market/company-As I had coined in the previous paragraph, a "complete investor" is not your traditional investor. As fun as it is to just take someone's word for it and buy up stock, small cap investing requires thorough research. What I like telling first time small cap investors, find two or three companies with varying products and services and find out as much as you can. Immediately, you should start to do your research on the internet, there is a lot of company information you can gather and there are actually "upper management" contact information. Call up these companies, find out what they're production looks like, find out if the managers own shares of their stock and find out if they plan on purchasing more in the future. Additionally, ask for their profitability reports (10K and 10Q), this information will give you a "temperature" as to their profitability direction. With all the right measures and research, investors can easily find out if they are a worthy buy in the future months to come.

2. Stay away from Pink Sheet Stocks-Pink sheet stocks are generally referred to what I like to call "underground shares". Companies only selling pink sheets have yet to be endorsed by the stock exchange or Nasdaq indexes. Even in a recession, these are many times more riskier to carry because the firm hasn't completely developed into a full scale corporation. And another downside is that if you ever need to sell your pink sheet stocks, they will be tough to get rid of due to the fact that the public are not aware of that particular company. And as a result, keep pink sheets on the back burner and don't consider them until you complete further research.

3. Diversify your portfolio, invest in a wide range of companies, not just one-This should be an easy tip to understand. Plan on investing on three or four different niche markets and spread the money around. This way if one company's stock drops, the others will pick up the slack. This is just common investing 101, any good portfolio will be broken down into 50% small cap stocks and the other 50% various blue chips, bonds and other stable commodities. Overall, a well rounded small cap portfolio will comprise of an average of 15 different companies. Something to think about when you're deciding to put together your investments.

For more tips and tricks in investing in today's economy, please feel free to get expert advice from my site at:

Shaun Davidson-Automotive and Finance Consultant-2008

Online Share Trading System - Proven For Success, Learn Why One is Necessary

By William Yates

Trading on the stock market offers a lot of potential for a lot of money. It's an exciting idea and many people just rush out and start buying and selling whatever stocks they're familiar with. Some people try and do some research on their own and end up loosing money to complex financial 'instruments'. Investors like that didn't have a good stock trading system in place.

Without really knowing what you are doing, you could stand to lose a lot of money. Even those experienced in trading stocks lose money. It is all about having systems in place that you can follow to keep the emotions out of the way.

Yes, that's right, emotions are one of the biggest reasons people lose money on stocks. If you have a proven system to follow then you can eliminate the emotional aspects out of the business, after all it is business. If you eliminate the emotions, then you are more objective and trade with your head and figures presented rather than with your heart.

Trading stocks also require you to prepare psychologically. This is part of the emotional aspect of trading. If you are mentally strong and know what to look out for, then you are far more likely to trade efficiently and win.

Stocks and share trading can also be intellectually complex with lots of mathematical analysis and charts etc. With some systems, you can eliminate all those technical aspects and follow a step-by-step plan which is simply a case of ticking boxes to ensure a stock meets the investment criteria for it to be safe.

So, if you are considering or are already trading shares and stocks, then invest in a good online share trading system that takes all the guess work out and you will massively improve your chances of success.

Learn why an online share trading system is proven to be essential for stock trading success, just click on the link.