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Wednesday, February 4, 2009

Bankruptcy

By reklicom

Alternatives to Bankruptcy. Individual Voluntary Arrangements: An Individual Voluntary Arrangement or IVA is a formal agreement between the debtor and the County Court made to avoid a petition for bankruptcy. You can either set an amount to pay your creditors monthly and dutifully or pay them in full. To file for an IVA, you will need the help of an insolvency practitioner who will act as the middle man. It is usually costly to hire an insolvency practitioner. Asking them for an initial meeting where you can seek advice whether filing an IVA is appropriate in your case or not is best suited. This way, you can be sure that every cent you pay for is worth it. Names of local insolvency practitioners can be obtained through the court offices or the Official Receivers.

The insolvency practitioner prepares the proposal of payment scheme that is according to your capabilities. If your creditors agree to the terms stated in your IVA, the arrangement is put in place. If you fail to comply with the terms in your IVA for the period that it was in effect either your insolvency practitioner or your creditors could file a bankruptcy petition against you.

A clause in the hire purchase agreement states that you will have to return the item once you are declared bankrupt. This means that your contract with the company will be terminated altogether. In some cases, however, you can be allowed to continue ownership by making payments dutifully even while you are declared bankrupt.

Pensions: If you went bankrupt before May 29, 2000, your personal pension could be taken in as an asset. This means that you will receive no lump sum or weekly payments in the future. This rule has been changed, however. Therefore, if you went bankrupt after May 29, 2000, your pension, may it be personal or occupational, should be left untouched. Some debtors used their pensions to stop creditors from taking away their savings. In this case, the pension fund may be lost to the Official Receiver.

Qualifications of an unfit conduct include: Deceiving the Official Receiver about your assets and businesses two years before you went bankrupt. Gambling. Making business transactions at a time when you know that you cannot handle debts. Taking out credits you cannot pay.Giving away your assets to avoid them from being taken away by the Official Receiver. Prioritizing some creditors over the others. Failure to cooperate with the Official Receiver.Concealing your assets and properties from the Official Receiver.

The Statutory Demand is usually used by creditors to force its debtors pay the amount they owe immediately without any intention of filing for bankruptcy. This is because no amount is required for filing a Statutory Demand while filing for Bankruptcy charges fees upfront.

Bankruptcy Can Stay On Your Credit Report For 10 Years Filing for bankruptcy can be on your credit for up to a decade. It's a good idea to look into alternatives for bankruptcy. Buying anything on credit can be a real challenge for many years after you file bankruptcy.

ADVICE - Statutory Demands: Once you receive a Statutory Demand, your next move should be to check if you can have it set aside.Do I have Assets? Once you are declared bankrupt, the Official Receiver or appointed trustee may rule out to sell all your assets to pay for your debt.

Only the larger County Courts accept bankruptcy petitions. Although you are obtaining the form from your local County Court, you will need to take a trip to the High Court to submit the form. If, for example, you reside in central London, you will have to go to the High Court to submit your petition. The District Judge will usually call for a hearing that same day to decide whether it is appropriate to issue the order or not.

REMEMBER - Beneficial Interest: If your co-owners have any intention of buying out your equity share of the property, they must do it quickly. Otherwise, the Official Receiver may take it into his hands in selling your home altogether. Those who want to buy your beneficial interest must get in touch with your Official Receiver and transact with him directly. The Insolvency Service charges very low for the transfer of your beneficial interest so this should not really be a hard thing to manage. You also need to reach an agreement with your Official Receiver on the actual value of your beneficial interest before this kind of transaction is made. If there is negative equity in the property, the value of your beneficial interest may go from a minimal amount of 1.00.

About the Author:
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posted by Credit Counseling at 11:37 PM 0 Comments

Get Peace of Mind and Financial Freedom with a Household Budget

By Financial Solutions Online Center

With the economic times hitting so many households so hard it is time to find out how you will be able to manage in these difficult times. A household budget must be implemented in order to determine where you are overspending and can cut costs. This can help you begin to practice cost analysis methods before you go out and spend money.

A cost analysis is a method of determining the overall cost of a family event. For example, you want to take your three children to the movies and you want a real cost of the show. The show is 50 miles away, the kids must eat, you have to buy tickets, etc. You may find the overall cost to go to the movies after gas, food and tickets, is around $100 or more. This is not cost effective for your budget. Determining the cost of a movie is not only the tickets to get into the show. This is where many people go wrong with their budget and they cannot figure out where their money went. Take snacks, carpool, eat first, or just rent a movie on pay-per-view and stay at home. A cost of $5 is much better than $100.

A household budget will consist of everything you owe and everything you count on. The priority items on your budget include living expenses you cannot go without which include basic necessities like a roof over your head, electricity, water, food costs etc. Below these items then place all of your monthly bills that you owe underneath.

You also have to include all the items that constitute your net worth, all the money received in your household, etc.

This is where you face reality. It is very painful for some people, especially if there is a risk to lose their jobs and they have a lot of debt.

The good news is that a household budget can give you the peace of mind you need and an open door to financial freedom. Knowing how to set it up in a way that instead of giving you pain gives you freedom and money in your bank account is the key to succeed in your way out of debt slavery.

A household budget is vital if you want to make it in the economy today. Many people dont know the first thing about a budget and financing. You dont need to be an expert, but you need to know how to set it up, what items to include, and the tricks to make the process as painless as possible. With the right tools and information, setting up a household budget becomes very easy.

Copyright by Financial Solutions Online Center. All rights reserved worldwide.

About the Author:
The Practical Household Budget Roadmap is easy to use, painless to set up, and effective saving money and paying off debts immediately. Get your copy now and start your way to financial freedom today! www.financialsolutionsonlinecenter.com.

posted by Credit Counseling at 11:32 PM 0 Comments

Enjoy Life on a Budget

By Paul J. Easton

Having a big balance with your credit cards is no fun. With the stress it brings with you, especially if you only have barely enough money to make it through from one payday to another. One of the secrets to leaving this cycle of hard work yet without any pay off is to get rid of debt. And learn also how to enjoy life on a budget. The thing is it is easier said than done, so how?

The one thing where overspending has direct relationship with is your behavior. By learning to modify your behavior with money, you will learn small things that can be changed to save some extra money. Of course, discipline and motivation are very much important. A support group like your family can definitely help along the way. By learning the proper behavior with money, you will tend to allot more money to your bills and later, if you have already paid off the debts, your savings account every month. Get debt-free today with tips on this blog about how to get rid of debt.

Simple tweaks in your daily routine can be hard but rewarding. These moves will make you aware of the cash flow and the importance of your every resource. Saving up can be very difficult but can be done. By merely making a distinction between the needs and the wants, you will start to prioritize and sacrifice some of your spending. With this, you also avoid certain things that only tempt you to use your credit card and accumulate again another series of debts to pay.

These activities are really counterproductive and can have cheaper but better options. Take for example your weekend strolling at the mall where you are only tempted try those chic shoes. You can entertain yourself instead with a more productive activity like starting a business with a hobby, which can be more satisfying.

Implement some cost-saving measures inside the house particularly inside the kitchen. Have a list of the food you need to prepare for the whole week. Buy groceries according to your plan. With a plan at hand, you will likely stick with your budget. With your daily purchases, buy them with cash and avoid the credit cards.

These are easy measures to save on your everyday expenses. By having the focus with your plan, you will surely enjoy yourself and most importantly save up some extra money at the end of the month. To know more information how you can enjoy life in a budget and how to get rid of debt, log on to http://www.Howtogetridofdebt.net/ by Paul J. Easton.

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posted by Credit Counseling at 6:11 PM 0 Comments

Saving Up during a Recession

By Paul J. Easton

Saving up in this current crisis can be very hard. Jobs are lost and the common everyday expenses are getting higher in prices. And your savings account is drying up sooner than you think. Now, you truly need all the help you can get.

For you to save up money, whether to pay off your credit card debt or set aside some money for retirement, the first thing you need to manage is your spending habits. By distinguishing the things that you need from those you only want, you will begin to prioritize your spending. Strolling around the shopping mall and seeing all those new and trendy clothes or shoes, you are only tempting yourself from splurging in these doodads.

You can simply save thousands of dollars a year with a little effort from your part. Follow a few well-planned cost-saving measures to give direction to your personal financial management. Evaluate the current mortgage you have. Maybe you are paying a slightly higher interest rate compared to your credit rating. By asking your banker, you could perhaps refinance with a much better deal. Doing this is one way to save more money for the long term.

Skip the meals outside with restaurants and fast foods. Eat more at home where your family can bond and eat together. You will also be compelled to learn how to cook. The more you eat at home, the more money you save. Reserve the eating out for some special occasions. By doing this alternative, you can even go back to your weight loss diet and begin a healthy way of eating.

When shopping for groceries have a list prepared of all the things you need. This prevents you from exceeding your budget. Consider buying store brands of your favorite foods instead of the popular high-end brands. These are typically cheaper but taste the same. By sticking with a budget in your groceries, you will eventually save some extra money at the end of the month and this will finally boost your savings accounts. Get debt-free today with tips on how to get rid of debt here.

If you adopt measures to save on your everyday expenses, you will certainly save up some extra money. This extra money can be used to pay off your credit card bills faster or increase your savings for emergency cases. It is really amazing how small changes can completely make significant differences with the way you handle your money. With that extra money, imagine how good to be finally debt-free. Surely, those small changes are very important after all.

For information on how to get rid of debt, go to http://www.Howtogetridofdebt.net/ by Paul J. Easton.

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Does your Debt Suck you Down? Paul J. Easton offers you how get out of debt with Free helpful Guides:

posted by Credit Counseling at 5:10 PM 0 Comments

Saving Up while Having Debt can Hurt You

By Paul J. Easton

Do you have both debts and savings? Chances are you are dangerously overspending your money and you are in a crucial situation. Why is it so? Read a little more.

You are spending more money when you save and acquire debt through your credit card at the same time. In simple terms, when you save money in your bank account, you are in fact lending your cash to the bank. Then with probably a credit card from the same bank, you are again borrowing money from your bank with a higher interest rate.

The big difference between the interest rate of your saving account and the rate they charge you with their credit cards is actually the bank's profit. It is simply ironic because you are actually borrowing money from a bank with which you have lent money with. And with their profit due to the difference mentioned, it is causing you to be in a very disadvantaged position because it always costs more to borrow than to earn from saving.

This is the reason why I laugh and feel sorry at the same time with this attitude of people. These people who have both borrowings and savings with the same bank are just working hard to become slaves of their own banks. In actual fact it is a ridiculous cycle of lending you back the money you lent them and with them having the profit.

The concept of having some extra cash in their savings account gives most people a sense of security. But with the situation of keeping the debt aside just to save up and accumulating the interest charges, that is having a negative gearing every time. This leads to ultimately drying your emergency cash fund in your savings without knowing it.

The best thing to do is pay off your credit card debts with your extra cash in your savings. Even if this includes your emergency fund, it is still the best move to do. The main caution though is not to cut up the cards this time when you used up the savings. It is imperative to keep the credit cards available for now in case there is an emergency. Until you amassed the necessary amount in your savings after paying off the credit cards, then you have the option to stop using the credit cards altogether.

The solution is very straightforward. Pay off the debts before you save any amount. It is a simple concept of breaking old rules which are probably marketed by banks themselves. At least, you break free from being their slaves after all. Get debt-free now with these tips on how to get rid of debt here.

Being in debt is no fun, especially if you find that you barely have enough money to make it from one payday to the next, with no money to put into savings left over at the end of the week. The secret to help you get rid of debt is to learn how to modify your behavior when it comes to spending money, allocating more money to your bills and your savings account each month.

For information on how to get rid of debt, go to http://www.Howtogetridofdebt.net/ by Paul J. Easton.

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posted by Credit Counseling at 4:56 PM 0 Comments

Why Your Reverse Mortgage May Have Been Transferred in Process

By Matt Vanrock

At this point its almost boring to discuss the mortgage crisis. I'm not even sure if it will make the Monday morning paper today.

Of course, many companies offering these mortgages have changed as well. Some have been sold for pennies on the dollar and have changed their names. Some are no longer in business at all.

Up to this point those companies offering HECMs (reverse mortgages) have not seen any real issues.

Its pretty easy to see why. The reverse mortgage is structurally a very appealing investment to those who may want to invest in mortgages.

One of the most important differences between the reverse and the traditional mortgage is the HECM does not require periodic interest payments. This dramatically reduces risk.

Mortgage companies lend money out of lines of credit known as warehouse lines. This is the problem. Some lenders fund reverse mortgage and traditional mortgage out of the same line.

There is no clear delineation between one source of money and another. As such the money comes from the same spot.

Is it possible that some of these lines of credit or warehouse lines are somehow affected by the mess in the traditional mortgage market? What happens then?

That's right. The money available for reverse mortgages is thereby restricted. This is happening right now.

This stinks for the institution offering the reverse mortgage but it is just as bad for the poor soul currently looking to close his reverse mortgage. Hes being told to hang in there while his file is transferred to another lender.

The consumer can take a hit in that it is taking much longer to close a loan being transferred to another lender. We are in an increasing interest rate environment contrary to what you're reading elsewhere. When rates go up mid stream the consumer can realize less money.

You see rate locks are not a reality in the reverse mortgage business and increasing lender margins will effectively reduce the amount a borrower qualifies to receive.

The results can be severe enough to completely take away the ability for a borrower to refinance his or her forward mortgage. This is a big deal because the borrower may no longer be capable of paying that mortgage.

We hope this is a temporary problem. Just be careful of this if getting a HECM and dont spend the money until you have it.

About the Author:
Find the seven most misunderstood assumptions regarding the California Reverse mortgage here. Also, the nineteen most popular California reverse mortgage questions found here.

posted by Credit Counseling at 2:06 PM 0 Comments

The Effectiveness of Retirement Planning Software

By Michael Geoffrey

Good software can help you to create a beneficial financial plan. It is important to have to tools you need in order to have the best plan for the future.

Good financial planning depends on your ability to organize your current finances and plan for your financial future. The right software can put that ability at your fingertips.

The retirement planning software prints a report when you need to know what is going on with your finances so that you can make any necessary adjustments. You will be ale to import your account balances from other software or spreadsheets. Managing and tracking your credit card charges will become easier with this retirement planning software.

Benefits of using the software

The retirement planning software has many new features, some of which are:

- Advisement when your financial situation is at a point where a reverse mortgage could benefit you

- Creates different budget comparisons

- Tracks your asset allocation

- Helps you estimate the security of your investments

- Gives you custom reports with easy to read spreadsheets and graphs

- Helps you keep your finances uncomplicated and easy to manage

- It is easy to use and is the best financial advisor that you could ever own

- It reduces the cost of hiring a financial advisor

- It simulates everything to real life situations

- Creates what ifs scenarios to help you to make sound decisions

- Helps you adjust to the changing economy by making cost of living increase projections

- Incorporates the cost of health care into your figures so that you are sure to allow for this important necessity

Planning your future gives you confidence and a financial edge to look forward to your retirement. There are many long-term benefits of using financial software and you should take advantage of it as long as you can. You will be provided with a very quick determination of whether your financial plan will work or not.

About the Author:
At the Finance Product Evaluations website, we offer objective reviews of many different products in the debt, credit, investing and real estate markets, to name a few. Visit http://www.financeproductevaluations.com to take a look at our latest reviews, such as our latest pick Leo Quinn's How To Own Your Paycheck Again.

posted by Credit Counseling at 1:34 PM 0 Comments

Finding A No Balance Credit Card

By Nick Makaryk

Obtaining a credit card is a positive step though it can often prove rather hard to get one, particularly when your credit history is to a unsatisfactory. There often can be many restrictions in having your application approved and poor credit will surely make it just about impossible to get a card. As a matter of fact, even if you do acquire one the interest rates would be rather high as to make acquiring one would be prohibitively costly.

Reestablish Poor History

Nevertheless, it is still possible to obtain a card even when you do not have a good score or even a banking account because you can get what is called as a no bank account card. Such cards are valuable when you need to restore your bad credit and they are easily procurable and will do you a great deal of good when attempting to fix your poor credit history.

These no bank account cards are normally preloaded and their credit limitation is the sum of money that you load up onto your card through pre-payment. The benefits of these cards is that you can easily moderate on how much you are spending and also improve your credit, and additionally, this will prove to be very valuable in dealing with your money more efficaciously.

Nonetheless, it is not sensible to go hurrying out and acquiring one because truth being, that you will be better off by first of all shopping around to find the very best deal. Without a doubt, nearly all such cards go with similar incentives and advantages as are the case with normal credit cards even so, there will be times when certain no bank account cards might not provide enough incentives and you will need to search to find those that do offer enough advantages.

Another feature that is worth searching for is a no bank account card that will not charge up an abnormally high interest rate and which will not require paying off yearly fees either. Lastly, you must also shop for one that sees to it that you get the most beneficial customer support to assist you should you encounter that you have a trouble that needs to be settled.

Also you will need to be informed about the entire credit card application process to see to it that your application gets accepted, which for example of a non-online application normally entails having to delay about a week for the application to be examined and processed and a decision reached.

When applying for a no balance card you must do a certain amount of preparation and by researching online you should expect to get some really good offers. Even so, you will need do some comparison of interest rates, view different advantages besides identifying the cards that are most beneficial. Likewise it is a sound idea to pick out only that company that allows you maximum benefits so that you can mend your bad credit and get your finances on track in the most effective timely manner.

About the Author:
Nick Makaryk is an Internet Publisher, Copywriter, and Founder of Best Credit Cards . A Free consumer credit card comparison online website helps you find the Best Credit Card while avoiding higher interest rates, charges, and fees.

posted by Credit Counseling at 1:32 PM 0 Comments

Learn Where Your Money Goes By Budgeting

By Steve Collins

Does it seem like money just vanishes as soon as you get it? On Monday you stuck a couple of twenties in your wallet and by Thursday all you have is some loose change. For a lot of folks, if you have it, you will spend it. Cash seems to slip out of your hands, whether it is spent on a Cappuccino or a magazine at the news stand.

With a few budgeting basics, however, you can be educated to track all of your spending and make sure your money goes only where you intend, and not on needless luxuries. A solid understanding of budgeting basics allows you to determine where your money needs to be directed and where cuts should be made. Creating a budget is not that difficult; but it does require a little time and organization. It is fairly simple to grasp the basics of budgeting.

To create a budget, you must first have some records of your spending. You should put together your financial records, including your checkbook records, store receipts and credit card statements which track where your money is being spent. Ideally, you should try to get an idea of how much you have spent in a number of different categories over the last six months. sturdy budgeting calls for a chart consisting of categories that detail your spending habits. Transportation, medical bills, food, entertainment, school and housing are just a few of the categories.

Look as far back into your financial records as possible, in order to get a more accurate picture of your spending habits and budgeting needs. You will be astonished at the amount of money you spend on luxuries. If you are inclined to drop five dollars here and three dollars there without thinking, it is a revelation to see how much money slips away over a short period of time.

Budgeting basics, once realized, are skills you should use all your life, because your budget is in constant flux. If you stick to it, you will not have to wonder where all your money goes.

About the Author:
Steve Collins is a writer and journalist. In these trying times, he knows the importance of obtaining effective Credit Card Debt Settlement if necessary. Read his article about Credit Card Debt Settlement here.

posted by Credit Counseling at 1:11 PM 0 Comments

Mortgage Options Available to Home Buyers

By Evan Sage

A mortgage is an agreement between a lender and borrower where the borrower puts up a piece of real estate as collateral for a loan to purchase that property. There exist many different types of mortgages with many different options. Outlined below is a handful of different mortgage types and some of the options you may find.

A mortgage is considered conventional when the total loan amount is issued by an institutional lender (trust company, bank, etc.) and is less than seventy five percent of the purchase price or the approved value of the property. To put it simply when you put down twenty five percent or more as you down payment than you qualify for a conventional mortgage.

A mortgage is considered high ratio when you put down less than twenty five percent lesser of the purchase price or the appraised property value as a down payment. A high ratio mortgage must be insured, as required by The Bank Act.

The Canada Mortgage and Housing Corporation (CMHC) is one of the institutions that is eligible to insure high ratio mortgages. The mortgagee risk is lessened as the insurance pays if the mortgagor defaults. Borrowers are required to pay an application fee, an insurance fee that is typically added to the principal amount of the mortgage, and the cost of a property appraisal.

The cost to insure a high ration mortgage can range from 0.5% to 3.75% of the mortgage amount, the insurance premiums are hefty and can include other administrative and appraisal fees in addition. To receive up-to-date restrictions, requirements and/or additional information that borrowers will need to meet to obtain NHA backing speak to your bank or mortgage broker.

It may potentially be financially beneficial to arrange a second mortgage instead of a high ratio first mortgage, as second mortgages fill the gap between the amount of the first mortgage and the total down payment. It may be advantageous to place a second mortgage on a home when the first is at a very attractive rate for situations like home improvements as they generally have a shorter term and higher interest rates than the first.

Many fees can get reduced or waived if you assume an existing mortgage so it may be to your advantage to look into any opportunities such as these that you come across. If a vendor has an existing mortgage that aligns with your overall financing requirements you may find yourself benefiting in more ways than one.

By Assuming existing financing, legal fees and appraisals are lessened, and the vendor may save by not having to pay a penalty for discharging his or mortgage. As most buyers find low interest rates enticing, existing mortgages are a good way to go, though one will likely still have to qualify as a borrower by the lender.

A low interest rate and liberal pre-payment privileges in combination with negligible fees make vendor take-back mortgages very enticing. They can be issued as a large first mortgage or a small second as the homeowner is the one who offers the financing themselves.

About the Author:
Evan Sage is an award winning Toronto Real Estate Agent specializing in working with clients who are downsizing their homes in Rosedale, and Lytton Park. Evan instills in his clients the confidence to make the right purchase or sale decision. He achieves this by demonstrating a superior knowledge of Toronto real estate and by educating his clients.

posted by Credit Counseling at 10:38 AM 0 Comments

Living Beyond Your Means ??" A Very Common Trend

By William Blake

It is a very common practice for people to buy things that they don't have the money to pay for. They may charge it and then find themselves in debt for months or years trying to pay for it. Or they may play the game of beat the check to the bank. This is the common trend of living beyond ones means.

When you take a job, you are given a salary. The salary only changes if you get a promotion. For those that work an hourly wage, the amount of your check changes if you work more or less hours each week. Despite our paychecks being fairly consistent, people continue to spend more money than they earn.

Marketing and commercialism add fuel to the fire. We already have the tendency to want more than we can afford and to want it right now. Commerce makes that all too easy with offers of 12 months same as cash or no payments for 2 years. These kinds of offers make it so tempting to spend money we do not have. When the payments come due they are often impossible to handle.

Another danger is the misuse of credit cards. It is so easy to buy everything we want just by swiping that little card. However, we never factor into our monthly budget how we are going to pay for that purchase. We didn't have to give any cash away to get it and we don't even think about the expense again until the statement is due.

Once you pay the other bills, there won't be enough to pay the card balance so you pay the minimum. An unpaid balance on the credit card results in a larger balance next month even if you don't charge anything else.

Most people are not interested in learning how to better their finances. They find themselves faced with filing bankruptcy which is a terrible blow to their credit. There are financial advisors available to help people learn to better manage their money. However, very few people avail themselves of these services.

Credit cards have become the trend. It is acceptable for most people to have more debt than they could possibly pay. They are content to make the minimum payment amount each month and watch interest and continue to mound with no hope of paying the entire balance in the near future. This attitude leads to serious financial problems.

As long as there is a credit company or store willing to extend more credit, the problem of overspending will continue. How we handle money affects the next generation of consumers. They learn from watching us. What are we teaching them?

About the Author:
Are you tired of struggling to keep up with your credit card payment? Learn some simple credit card tips on the Debtopedia website. Visit http://www.debtopedia.com for a free copy of my "Secrets Of Credit Card Debt" report.

posted by Credit Counseling at 10:13 AM 0 Comments

Steps to Repair Your Credit

By William Blake

Having bad credit is a problem that will really affect every aspect of your life. Many of your hopes and dreams will be unattainable if you have bad credit. Even taking care of life's necessities becomes more difficult if you do not have good credit.

If you have already made some mistakes in life and have bad credit, you should know that there are ways to repair credit score and get back on track. There are a few steps in particular that you are going to want to take if you need to repair credit score.

Check Your Credit Score

Before you know how to repair your credit you need to know the exact condition of your credit right now. You can request your credit report on line and it can be sent to you via e-mail or regular mail. You can also ask your bank if they can get you a copy of your credit report. By reviewing your report you will understand where your problems and then you can begin to take steps to fix them.

The first thing you want to do is check for any entries on your report that are incorrect. If there is inaccurate information on your report that is adversely affecting your credit you want to get that taken care of as quickly as possible so that it does not continue to bring down your score. Once all errors are corrected you will be able to see exactly how much debt you have.

Pay Off Your Creditors

The next step is the get your debts organize and start working towards paying them off. Of course you can not pay all your bills off at once. But try to attack them one at a time. You want to start with the higher interest rate debts which usually are your credit card debts.

Get all your credit card bills together and decide which one you will pay first. Focus on paying more then the required amount on one card each month which will mean less interest compounding on that account. Work through each card until they are all paid in full.

Plan to Make Wiser Decisions

Once you have dealt with your credit now, and are working your way towards having good credit once again, make sure that you do not make the same mistakes again. Avoid getting credit cards unless you absolutely have to, and if you do, make all your payments on time.

Also keep in mind that these are all generally free credit score repair ideas, so it is not as though this process is going to cost you a lot of money.

About the Author:
Thinking of trying to lower your payments or the balance owing by negotiating credit card debt yourself? Make sure you visit the Debtopedia website to get some helpful tips first.

posted by Credit Counseling at 9:51 AM 0 Comments

Making Money From Passions

By Thomas L Russo

In making online many people jump right in before they are properly prepared. You know that to be a rocket scientist, a doctor, a brick layer, a builder, an office worker, a lawyer there are prerequisites, things you must learn, before becoming successful, you don't just jump right in unprepared.

The same applies to the Internet marketing industry even though there are unsavory people out there who'd have you believe it's a "Walk in the Park" and requires no more than the belief that you can just do it.

And I'll have to admit, it is a walk in the park compared to what you have to put up with in the working world punching a clock being a subordinate to someone who does not have your interests in mind, but there are still rules you have to follow and pitfalls you must avoid to actually make Internet marketing work for you.

A lot of people will not make a cent online and yet there are others who will make more in one month than most people make in a whole year. Why is this?

My answer begins with the age-old chicken or egg question, "what comes first the chicken or the egg"? Personally I vote for, well never mind, each argument you or I make comes back to the same old conclusion - I have no clue and I don't think many of us do either.

But one thing I do have a clue about and know for sure is that to make money online you must first have Passion for the company products and/or service of any Internet business from which you expect to make money.

Passion in this sense basically means that you've researched the company and and like the products or services it provides. It is then that you translate that Passion and like into the education, excitement and work that usually accompanies Passion.

I will have to say that many online entrepreneurs are really so good at what they do that they ignore passion because they can sell anything. But I'm concerned about those of you who don't have a knowledgeable understanding of working an online business successfully.

Now, I'm not trying to make everyone believe that Passion is the only thing that's needed. Because to be really successful you must also have a good website, good marketing, widespread advertising, company support, effective keywords, good business relationships and so on. Those attributes are often learned from the company you join - but sidestep Passion and you reduce your chances for success greatly.

It follows that, if you don't have a Passion for the company and the services and products that are provided by the company, you won't try to do the work you are asked to learn.

Internet marketing work is generally not all that difficult or takes a lot of time but it does take motivation caused by Passion to get you up and running with a sustained effort so that you won't stumble.

You have a great resource in the Internet search engines to search about the Internet Marketing industry for business opportunities, USE IT!

Your research should uncover a company that you like and have confidence in. It should be solid, founded on great principles, and easy to understand with great products and services that are sell-able for which you can have Passion. If you don't find it move on, You can find the right opportunity containing the attributes identified above.

Comments like, well, that one sounds good and the compensation plan is excellent so I guess I'll start that business - does not sound like a decision based on anything near Passion. And remember when you hear that an Internet "guru" does that, don't be tempted, because as I said earlier they are experienced and can sell just about anything, without being Passionate about the company products and services.

Note: By the way it's your aiml to try to get to the point where you can sell about anything online you desire. That end skill and goal is a worthy achievementl

Remember, there are other steps you must make before you step into Internet Marketing but if you can't first find that right company with products and services that you can be passionate about, then all of those other steps may just cause you a lot of trouble instead of bringing you a great result.

By not being Passionate about a company and it's products and services that has proven it's self in the market that it will sell is a downfall you simply must avoid to be successful.

About the Author:
Did you find this article at all helpful? If you did then have a look at the step-by-step video tutorials here

posted by Credit Counseling at 9:43 AM 0 Comments

How Others Can Affect Your Credit Report

By Jim Bransby

You are on a clean slate with your credit; all of your loans are paid off, you never miss any payments, and you have never came close to going over your credit limit. Suddenly, when you get your first credit report you get an abrupt smack in the mouth as you realize that it definitely does not make sense. Not only could your report have gotten confused with a relative or someone with a similar name, but it could be a result of identity theft miles away.

Sadly, individuals aside from you can play a factor in your credit report. There are many different ways this can happen - usually through identity theft or identification mistakes. No matter how bad the damage may seem, just relax and figure out exactly what is going on in the report.

Your credit history has been confused with someone else: This accident happens to many of us. When two people live nearby with similar names, their credit history may get intertwined with one another. This type of accident shows why it is so important to apply for a credit check regularly. Then you can dispute anything that shows up in your credit history that is not your own.

Your credit history includes credit cards taken out before you were 18: When you were growing up, your parents may have given you a credit card in your name for "emergencies only" that was tied to their own credit cards. Whether or not you used it properly (remember those "emergency" CD purchases?), if your parents did not pay the bill, you are in a credit emergency of your own. This is an issue that you should be able to dispute, but it takes a little more time.

Then there is the most feared possibility - identity theft. Identity theft, unlike your accidental mix up with a closely related name; is completely intentional. They are stealing your funding without you ever knowing, until now. Report this instantly and dispute all the charges as this is not only a credit score problem but a legal problem.

If you are suspicious of identity theft, check your bank accounts and credit cards. Anything that does not look like something you did, check into it. Say you were right and there were incorrect charges - report it right away. Put a stop to their illegal spending by putting a hold onto your accounts so the funding is cut off.

If this happens or an identity mix up, sometimes it is best to file a report with your state and the FTC, or Federal Trade Commission. This ultimately shows the credit report agencies you mean business with their mistakes and want them corrected as soon as possible. Not only will it save you the trouble of dealing with the credit report agencies but it can also help other people who are suffering the same issues.

Finally, now that you know all the ways that people can affect your credit score, be careful with your info. Privacy matters, especially when it comes to your finances. Talk to your credit card companies and banks about the best ways to keep your identity safe.

About the Author:
To find out exactly how you can get your annual credit report visit my credit report website.

posted by Credit Counseling at 9:28 AM 0 Comments

If your buying Phoenix Condominiums

By A. Kim

Phoenix, Arizona might just be the place if you are looking for friendly environment and great atmosphere coupled with beautiful landscape. Arizona has long been one of the favorite places to retire because of its weather and scenery, especially if you were living in colder upper part of the United States where temperatures can be unbearably cold.

Phoenix is the largest city in the state of Arizona, where many people live, work, and raise children. Surrounding Phoenix is number of large cities like Tucson , Scottsdale, Yuma, Tempe, and Mesa. You will find purchasing a Phoenix condominiums easy and stress free while you can relax and enjoy the beauty of the Southwest right outside of your doors.

Phoenix is the largest of cities in Arizona. Other cities like Tucson, Scottsdale, Tempe, Mesa, and Yuma are also large cities in the state of Arizona. One of the best place to work, provide education to your children and live is Phoenix. Living in Phoenix is very relaxing while you can enjoy the beauty of Southwest right outside of your Phoenix condominiums.

Within short distance is places like Grand Canyon National Park, but there is plenty of beautiful parks that can be visited in a day or two. Truly, Phoenix condominiums are best not just for retirees but anyone who is looking for value and great living.

The prices of Phoenix condominiums can range for $110,000 at the low end to over $2,500,000 for luxurious high rise condominiums. The high end caters to the rich and wealthy who wants little pampering, but there are plenty of choices with high inventory level in the market. The good news is the price have been declining, but the bad news is the Phoenix market will recover faster than the rest of the country from the downturn.

So whether it is condo conversion, new construction condos, or a high rise luxury condos, be sure to look for bargains and those that have dropped over 30 percent from highs of recently as year ago. Those investments can give you huge returns once the housing market rebounds from there lows.

About the Author:
Is it time to purchase Phoenix condominiums, please review Phoenix Condominiums, and Phoenix Condominiums

posted by Credit Counseling at 5:26 AM 0 Comments

The First Steps to getting Rid of Credit Card Debt

By Paul J. Easton

Accumulating the credit card debt seems so easy but get rid of it is so really challenging. With the mounting insecurity in our economy, escaping the credit card debt is much more needed than before. But how do we get started?

The first step is pretty obvious: you need to stop using all credit cards. Yes, that is today and not tomorrow. Continually using the cards gets you tempted to spending more than what you can afford. You will just be shocked later how big your balances went and the trouble starts to sink in. So cut up your card now!

Without the credit cards, take your plan of getting out of debt by making a list of what you owe. This may be hard as you truly see the real debt deal. Collect all your bills from different cards. Have a pile of all your statements and list all your debts in order starting from the largest balance to the smallest. Have an inventory of their minimum monthly payments and the interest rates that you are paying on every card. By having this analysis, you now have a clear understanding of where you truly stand.

Always prioritize your repayments no matter what. Select the card with the highest interest rate. Pay them fully off first to avoid the charges with this card. If your budget would still permit, pay off also the card with the smallest balance. You can maintain paying the minimum for the rest of your cards for now. Upon fully paying the first two cards, you will feel some motivation in doing the same for the rest of the cards. Be debt-free now with these tips on how to get rid of debt here.

The debt started with your bad spending habit. So even if you have to take on a part-time job or keep on paying your bills, you just have to cutback on your luxury spending. This is the time where you decide that you really need to just live within your means.

If you find your situation to be very distressing even after cutting back on some expenses, you can find alternative ways of raising funds. You can consider liquidating some assets that you don't necessarily use like holding a garage sale.

By taking the action to step up and face your credit card debts, you deserve a pat in the back for the courage. Keep the hard work and with due consistency, you will be looking forward to being debt-free.

For information on how to get rid of debt, go to http://www.Howtogetridofdebt.net/ by Paul J. Easton.

About the Author:
http://www.Howtogetridofdebt.net/

posted by Credit Counseling at 5:17 AM 0 Comments

What are the bankruptcy law changes?

By Josh Ramos

The recent bankruptcy law has brought some changes with it, and many people are under the false impression that they can no longer file for bankruptcy. Many of the people who need it the most wrongly assume that bankruptcy is no longer a viable option for them.

While there have been changes made in recent years, bankruptcy is still a viable option that you should consider with your attorney. While it isn't for everyone, bankruptcy might be the best option for you depending on your circumstances.

The reason that many people are confused about the current state of the bankruptcy code is that Congress passed a new law in the year 2005. This new law is extraordinarily complicated, and even lawyers may have difficulty sorting through all the details and restrictions.

However, this doesn't mean that you can no longer declare bankruptcy. There are some additional hurdles to go through, but it probably is still an option for you. The main provision of the new bankruptcy law has to do with something called the means test. Basically, you have to prove that you really are not able to pay for your debts with your current income.

Actually, if your income is lower than the median salary in your state, the bankruptcy means test doesn't even apply to you. However, if your income is higher, you may have to go through this annoying but necessary procedure to show the court that you do need bankruptcy.

If you do have to go through the means test, that means that you'll have to go to greater lengths to document your income (as well as your expenses). You must be very careful in putting together these documents, because any errors can create a world of hassle for you down the road.

Your lawyer should be able to help you with specifics, but it can be quite a tedious process. Going through this without a lawyer is not an option, especially with the latest changes in the bankruptcy code. The new law simply makes things too complex for the average person.

Of course, it helps to be as informed as possible before going to visit any lawyer. Reading more articles like this one will help you make a more informed choice and will help your visit with a lawyer go more smoothly. This can even end up being less work for the lawyer, which means a lower cost for you.

About the Author:
Don't let the fear of your debt take over your life. Get the facts about bankruptcy and learn how to get control of your debt. To learn more about life after chapter 7 bankruptcy visit us at http://personalbankruptcyquestions.org

posted by Credit Counseling at 5:13 AM 0 Comments

?Choose a Career That Will Ensure a Secure Retirement

By William Blake

Retiring is something that people don't often begin to think about until they are nearing retirement age. That is not a wise approach. The earlier you think about retirement the better your retirement plan will be. Retirement is a milestone in a person's life and should not be taken lightly. On you first day of work at your very first job you should begin a plan for your retirement years. That may seem premature since you have several working years ahead of you. But really it is never too early.

The more time you give yourself to save the more you will have saved when you are ready to retire. It will not matter that you are not able to put aside lump sums of money at a time. If you put just a little away on a regular basis over time that will add up not to mention the interest that it will accrue. When you reach the age of retirement and look back you will be glad you started so early.

Career Planning Retirement

Career planning retirement basically refers to the process in which you decide on a career that is going to offer you satisfactory retirement benefits. Really, career planning is an ongoing lifelong process that allows you to change your career direction as circumstances in your life change, retirement or otherwise.

Whether you are just beginning to think about the type of career that you want, you have lost your job due to downsizing or restructuring, or you are considering leaving your present job for another, career planning is often an important aspect in everyone's life.

What To Consider

Your career should fit you. Of course, there are other things that you have to consider. But your first priority should be to make sure that you choose a career that fits the person you are ??" your likes and dislikes and your abilities.

Career planning retirement is another major issue, because even though you may really love a particular job, if it does not offer adequate retirement benefits then you may want to reconsider. Even though there are other sources that you can be provided with retirement income from, the most reliable means is always through your employment, and you really want to be assured that you are going to be secure and be able to live comfortably once the day of retirement finally comes.

About the Author:
Looking for the fastest way to pay off debt? Visit the Debt Reduction Academy website, where you can sign up to receive your free 5 day e-course "Operation Money-Find: How To Find Money To Start Paying Off Your Debt This Month". Grab your copy now at http://www.debtreductionacademy.com/minicourse.php

posted by Credit Counseling at 5:05 AM 0 Comments

The Facts On Jumbo Mortgage Loans

By Sarah Turner

The average price of a home in the United States is right around 300,000 dollars. When you apply for a mortgage to purchase a home around that average price, the general rules of mortgage loans apply. But what happens when the price of the home you want to purchase far exceeds the typical home price? Jumbo Mortgage loans are offered by banks for homes that exceed a certain price limit.

There is a great deal more risk for the lender when they issue this type of loan. Most of the homes that fall into this high priced category are considered high-end luxury homes. Obviously, these types of homes are large, beautiful, and sometimes extravagant. Because of this, they are often harder to resell. Many people looking to spend that kind of money on a home are looking to customize their own home, and not necessarily buy one that was already designed and built.

The more extravagant homes don't always appeal to a mass amount of people. For this reason, it takes more time to sell the homes. If during the time it takes to sell, the borrower defaults on the loan, than the bank has now assumed the responsibility for the house. Banks don't like to have foreclosed homes on their hands.

Clearly, the larger and more expensive homes are chancy for banks to finance. So why do banks still consider issuing these types of mortgages helping people buy expensive homes? Banks make it worth their while by issuing the loans only after the borrower has put down a large down payment.

The second way banks absorb some of the risk is by attaching high interest rates to the mortgage. This allows the bank to make more money in the short and long run of the loan. This also makes the monthly mortgage payment a lot higher as well so the homes are quite costly to the borrower.

The final way banks try to absorb some of the risk of the loan by making money is to attach high closing costs to the mortgage. Usually, closing costs are a percentage of the price of the home, so naturally, a high priced home is going to have higher closing costs.

Unfortunately, it used to be easier to avoid taking on a jumbo mortgage than it is now. This is because the cost of housing has sky rocketed over the past few years. In areas like California and Washington D.C., even modest homes are high enough in price that banks are requiring these types of mortgages for the homes.

For those of you who have expensive taste and want to own an expensive home, realize that you will have to take on a jumbo mortgage in order to purchase the home.

About the Author:
Sarah instructs young families on the risks and difficulties of finding mortgage loans bad credit and virtually every type of bad credit mortgage loan.

posted by Credit Counseling at 4:46 AM 0 Comments

A Quick Look At Mortgage Refinance

By Ned Dagostino

There are two common situations which lead people to consider refinancing their mortgage. One is to save money by taking advantage of lower interest rates. The other is to manage an unwieldy debt repayment situation. If you are currently looking out to refinance your existing mortgage here are some important points you should consider very carefully.

Maybe you have a number of small monthly repayments and these are becoming increasingly difficult to manage. You can refinance the mortgage and get a loan large enough to pay off all the small debts at once. You can then concentrate on paying a single monthly repayment. This makes things more manageable.

You may have gone in for a variable rate mortgage plan when the interest rates were low. The interest rate in this plan is linked to the market rate. If there is a rising trend in the market rate which is not likely to abate, you may well change your mortgage to a fixed-rate plan in which the interest rate is equal to or less than the current rate.

Whether refinancing is advisable for you depends on your particular situation. Let's consider some situations where refinancing is not a good option.

Many a time, refinancing companies fail to mention what the actual cost of refinancing is. You may think you have hit upon the perfect plan which will save you at least $10,000 over the next 10 years. Only, you find that you have to pay brokerage fees of $1200, a foreclosure penalty of $8000, and some other fees amounting to $1300 to initiate the refinance! So instead of saving $10,000 you actually end up losing (in a manner of speaking) $500! Even if you don't end up 'losing' money the amount of saving may be so low as to be negligible, in which case the whole refinance exercise is pointless and best avoided.

When you consider refinancing, the first thing to do is to survey the market. Find out all the plans and schemes being offered by different companies. Make a comparison chart showing all the salient features and savings of each plan. Don't restrict your survey to just your local companies. Go online and get information on various plans offered in your area.

You may not know it, but refinancing may impose certain penalties on you. The previous financier holding your mortgage may impose a penalty to release the mortgage. This could be heavy if you have not anticipated it. The mortgage broker can exact a fee called origination fees or simply as 'points', which could severely affect your savings. Take all these penalties and payments into consideration when computing your expected savings.

Refinancing will be beneficial for you if you are able to save more than you spend on all the fees and penalties involved in refinancing. One very important factor that you must consider is whether there are chances of your moving out before the refinanced mortgage expires. If there are good chances of your moving out soon, then, far from saving you money, the refinance is going to cost you a packet!

Refinancing your mortgage can be very helpful indeed. It can save you quite a bit. You should survey the refinance market very carefully and minutely. Find out all the options available to you. Find out all the fees and charges that will be taken upfront. Compute the savings you expect to make and then deduct the upfront fees to determine whether taking the refinance is a good idea. A wrong decision here, a single point overlooked, can mean ending up losing money with the refinance. Remember, refinancing is a very serious financial decision. The benefits differ from situation to situation, and sometimes even within the same situation.

About the Author:
There are many other refinancing choices available to you besides a basic house refinance. You can refinance almost any loan including your vehicle, trailer, or even a manufactured home refinance can put extra cash in your wallet. Go to www.Home-Mortgate-Refinancing-Loan.com to learn more.

posted by Credit Counseling at 4:05 AM 0 Comments

Miami Condominiums

By J. Kim

Grey haired retirees the first thing that comes to you mind when you think about Miami, but contrary to this many young adults and making Miami there home. Miami's nice weather and many activities make it very attractive to sing young adults that is always looking for some excitement.

In fact, Miami is a very active, upbeat city and is perfect for the young, single adult that is always on the go. With a population of almost 400,000, it is a very diverse city and welcomes resident and guests from all nationalities.

If you are looking to move to Miami, Miami condominiums are perfect choice for those who are looking for value and great living space. Cost of living in Miami can be higher than the rest of the country and the cost of Miami condominiums can be little bit pricey, although prices have declined significantly in last few years. The average condominiums can cost about $412,000 or $334 per square feet, not cheap by any standard. The price of Maiman condos can range from $69,000 to over $5,000,000.

If this is too pricey, you can think about renting,. You can expect to pay $2,200 per month or almost $2,00 per square foot. You may end of paying over $50,000 per month if you want a luxurious living condo.

Miami is well known for its beaches, but there is lot more to do in South Florida than just enjoying the waterfront. You can visit Metrozoo, or take a tour of Everglades, the huge national park that covers over 1.5 million acres. It is home to many animals and especially the 14 rare and endangered species.

But if you enjoy the night life, Miami has plenty of them. There is lot of night activities and entertainment that can satisfy the partier in you. From streets of South Beach to the comedy clubs, you can always find a party. Whatever you like, you can be glad that you make Miami condominiums your home.

About the Author:
Thinking about purchasingMiami condominiums, please review Miami Condominiums, and Miami Condominiums

posted by Credit Counseling at 4:00 AM 0 Comments

Buying Denver Condominiums

By R. Kim

Prices of Denver condominiums have steadily been decreasing over the past 3 years. Average listing price of condos has been $189,000 in 2005 to $171,000 in 2008 and they continue to fall, but the price declines have been less than the decreases for single family homes. That is a reason why one should consider buying a Denver condominiums.

The number of condo sales have been steadily declining for the past 3 years in metro Denver. In 2005 11,600 condominiums were sold compared to 9,800 in 2008 in Denver. Foreclosures and short sales have been the largest reason for sales in Denver real estate market for this year. In 2008, the number of distressed Denver condominiums sales have increased to 41 percent of all sales.

Denver condos offer better options than apartment living, you will not be wasting your money on rental, but instead building up equity in your investment. They also offer comfortable living with style. You have access to many amenities like pools, business center, fitness center, spas, and parking facilities, it meets all you needs.

Three types of Denver condominiums are available to buyers. There is condo lofts for students or for those who are single. There is also luxury condos which cater to high income and high net worth individuals or executives who want to live within walking distance of work. In Denver there is abundance of vacation condo rentals because Denver is known for skiing and skiers want to enjoy comfort of home.

If you are looking for a place to live, Denver Colorado offers value and convenience. With recent recession and decrease in price of condo, it make perfect time to look for one to purchase or to invest. The market will rebound in 2009 or in 2010, you don't want to miss this opportunity. Whatever your budget or need, there is one that fits your criteria.

Make sure you do your due diligence and use a reputable buyers agent if you are looking at luxurious high end condo. Be patient and find the right condo for this is a large investment.

About the Author:
Thinking about buying Denver condominiums, please review Denver Condominiums, and Denver Condominiums

posted by Credit Counseling at 3:15 AM 0 Comments

Repair Your Credit Score By Reducing Your Debt To Credit Ratio

By Bart Icles

One of the major factors that makes up your credit score is your debt to credit ratio. It actually makes up about 30% of your score. You can easily calculate that ratio by yourself by taking your existing credit card balances and divide it by the total amount of credit that is available to you. Even though this is a very simple calculation, it does provide valuable information as to how easy it is to manipulate your credit score.

So, what if you have a low credit score and want to improve it? You can take advantage of any of the following strategies to push your debt to credit ratio to a more favorable position. There is no magic ratio that you are trying to stay under, but it has been said that under 45% is the safest.

1- The first thing you can do to increase your credit score and lower your debt to credit ratio is to increase your credit limits. The more credit you have available the lower your ratio will be. You should get in the practice of calling all the lenders with whom you have made on time payments for the last 6 months and ask for a credit limit increase. Do this every six months!

2- Take time to review your credit report and reactivate all old accounts. Did you know that most lenders will deactivate your credit card if it is not used for 3-6 months? Inactive card limits are not counted towards your debt to credit ratio. You need to make sure to use every one of your cards to make small purchases over 3-6 months to keep the card active and counting toward your ratio.

3- You can raise your available credit by applying for a new credit card (if you can stay in control of your spending). By adding another card, you are adding available credit without adding to your credit balance. The more credit you are issued and have available, the better your debt to credit ratio will be.

4- Have you ever heard of an authorized user? Most of us havent. Sometimes, due to our lack of credit history, it is hard to build a large available credit limit. If you ask a friend or family member, who has excellent credit and a long credit history to add you to their account, you will immediately receive the benefit of their history and credit limit without the responsibility of making payments.

5- The last and probably the hardest for most individuals is to pay down your balances. As I said above, you should try to get your debt to credit ratio below 45% for the maximum benefit to your credit score.

About the Author:
Bart Icles is a Credit Repair Specialist. He strives on a regular basis to assist clients with strategies and tactics to improve their credit scores and help them have a greater peace of mind. He also helps clients repair their credit by attorney if needed. Visit CreditScoresRevealed.com for more information.

posted by Credit Counseling at 3:08 AM 0 Comments

When buying a Boston Condominiums

By K. Kim

Boston is filled with many old neighborhoods. It is the oldest city in the continental US with seventh largest population having many diverse cultures and history. Whether your looking for an affordable living space or a luxury living, you will find one in one of these neighborhoods.

The Boston condominiums can range in the following. Fenway area prices range in $161,900 up to $475,000. In Beacon Hills, the prices range in $284,000 up to $5,750,000. In Back Bay area the price range in $299,000 up to $16,990,000 where you can find one of the most luxurious condos. In Charlestown area the price range in $129,000 up to $1,395,000.

Here are some other neighborhoods and there prices. Waterfront $329,000 to $3,525,000. North End $220,000 to $899,000. South End $185,000 to $4,495,000. Midtown $349,000 to $6,900,000. Again the prices are as diverse as the neighborhoods.

As you can imagine there is a range of condominiums prices for Boston. Some of these condos offer many amenities and closeness to restaurants and many area attractions like New England Zoo, Boston Ballet, Boston Symphonies, there are plenty to do in Boston area. Also Boston is home to Harvard university and many top notch universities, which makes Boston condominiums perfect place to call home.

Due to many options to choose from, it is wise to do enough research, getting information from reliable friends or relatives as well as the web makes it a good idea. Convenience is some of the advantages of owning a Boston condominiums. You don't have the headaches for repairing or maintaining your place of residence, the association takes care of all these at a fee.

So, right now is the right time to buy a Boston condo because of recent economic downturn, many new condos are available for sale in either foreclosure or short sale market. You can also look into luxury condos, since Boston has many of them listed in the real estate listing services.

About the Author:
Here are some price ranges of Boston condominiums, please review Boston Condominiums, and Boston Condominiums

posted by Credit Counseling at 2:04 AM 0 Comments

Guide to Canadian Mortgages

By Amy Nutt

If you are going to buy a home in Canada, you are going to need a Canada mortgage, unless you have a store of money lying around to use to pay cash for your home. Before you sign on the dotted line for your mortgage, make sure you know what you are agreeing to. After all, your mortgage is a long-term financial agreement, so you should know as much as you can about it at the outset.

Basic Structure of a Mortgage

Since most people do not have the cash stores necessary to pay for a home in full, they will usually borrow money from a lender for the purchase of the home. The property in question is the collateral for the loan, which means that the bank or lender has the right to take the home if you do not pay the loan according to its terms.

A mortgage is considered an amortized loan. This means that you have a set number of years in which you must pay back the loan and the interest on it. In Canada, most loans are amortized for around 25 years, but this can vary based on the loan structure. The amortization period is separate from the term, which is the period that the interest rate is guaranteed. Sometimes the term and the amortization period are not the same, which means you will need to negotiate a new mortgage term when the first one is over.

Finally, a mortgage has an interest rate applied to it. This is the percent of the total loan amount that you will pay to the bank for the privilege of borrowing the money. Your goal should be to find a loan with the lowest possible interest rate.

Getting Approved

Once you have decided that you wish to buy a house, it is time to get approved for a mortgage. Shop around to find a lender with good rates, and then apply. Your approval will be based on the size of the loan, your credit rating, employment history, and current income, among other factors.

Making a Down Payment

Most lenders require you to make a down payment on the property you wish to buy. This shows them that you are responsible with your money and have a good intention of paying what you owe on the loan. It is generally recommended that you put down a 20 percent down payment. You can put down more if you wish. You can also put down less, but if you do you will have to buy mortgage insurance.

What is mortgage insurance? Under the Canadian Bank Act, federally regulated lending institutions, with a few exceptions, cannot provide loans that exceed 80 percent of the value of the home without purchasing mortgage insurance. This insurance protects the lender against the possibility of default, which statistics have shown is more likely when the borrower does not place at least 20 percent down on the home. The premium on the insurance policy is typically determined based on a percentage of the home's purchase price. You will typically pay this premium as part of your loan payment each month. This allows you to purchase a home with as little as 5 percent down.

Your Monthly Payment

Your monthly mortgage bill is broken down into an interest payment and a principal payment. At the beginning of your loan, more of the payment goes towards interest than principal. This gradually shifts until you are paying mostly principal than interest at the end of the loan. If you wish, you can pay your loan off faster by paying extra towards the principal on the loan. Once you have paid off the entire principal balance on the loan, you will officially own your home.

A good way to start learning about Canadian mortgages is with a mortgage rate guide.

About the Author:
Canadian mortgage rates comparison site. Listing over 500 rates from Canada's top lenders and brokers. Visitors can compare mortgage rates in Canada with one quick search.

posted by Credit Counseling at 1:59 AM 0 Comments

What You Need to Know About Planning for Your Retirement

By Michael Geoffrey

Retirement planning is an incredibly important process, and is one that everyone needs to get involved with and take seriously into consideration. Of course a lot of younger people are not even thinking about retirement, and it is not surprising considering that retirement for them is decades and decades off.

It is best if people start thinking about their retirement very early. That way they have more time build a good savings and enjoy a good lifestyle throughout their retirement.

Starting Your Retirement Plan

To begin your retirement plan you need to establish what your ultimate goal is. Think about what you want out of life during your retirement and then figure out how much money it will take to have it. Once you determine what you want you will be able to create a good retirement plan that will enable you to save the sufficient amount of money.

The internet or your local financial institution have certain resources available to you to help you plan your finances to that you can be prepared for your retirement. You can calculate the interest you pay; you can set a good budget and can better manage your finances.

There are a lot of illegitimate programs out there that claim that they exist to help you build a secure financial future. Some prey on people who are nearing the retirement age and may be starting to panic a little about whether they are adequately prepared. They succumb to scams that promise to help them save money quickly.

There are actually quite a few different personal finance retirement planning scams to watch out for, and investigators say that the raging bull market makes it easy to persuade investors to plow their savings into nonexistent companies simply because they think that they are going to be making a great profit.

When thinking about retirement and considering the traps that can easily ensnare a person and destroy their retirement plan it is clear why it is imperative that great care is given when developing a financial plan that will allow you to enjoy your retirement. Use the tools that are available to you and think carefully about the financial decisions you make. Remember that it is never too early to start planning, so start right now. You will find that all the effort is well worth it when you are enjoying the retirement lifestyle that you always dreamed of.

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posted by Credit Counseling at 1:40 AM 0 Comments