Archive for the ‘Financial Services’ Category

Economic Meltdowns In Various Financial Sectors}

Sunday, June 10th, 2018

Submitted by: Joseph Shalaby

Unfortunately, the economic meltdown is going to create some far reaching side effects that will be primarily negative in nature. Consumer confidence is low, sales in every sector are down, and people have begun to place their money under their mattresses for safe keeping.

Realty or Housing Sector

The economic meltdown is going to severely impact the realty sector in several ways. The tightening of the credit sector is going to make it more difficult for potential homebuyers to locate affordable mortgages. Plus, downsizing due to slower economic growth is going to lead to more unemployed or underemployed individuals, resulting in fewer potential homebuyers. In turn, both of these aforementioned conditions will create a reduction in the need for new housing and the housing market will continue to wind down rather than heat up. In fact, new construction and the issuance of building permits have already decreased to lower levels than have been seen in the last two decades.

Mortgage Sector

With fewer lenders offering even fewer loan vehicles, the mortgage sector is not in a prime spot for growth. Constraints have finally been put in place on who can obtain a mortgage these days along with how much they can qualify to get. As people foreclose on their homes, mortgage lenders stand to lose quite a bit of money further limiting their own spending power.

Labor Sector

As consumers become less willing to part with their hard earned cash, the need for manufacturing goods continues to slow down along with everything else. This scenario, out of necessity, leads to layoffs and fewer individuals obtaining employment. One can only speculate that the mad rush to hire employees for the holiday season will be negatively affected as well. In turn, fewer people will have money to spend and sales will continue to slump.

Credit Sector

The credit sector has already sustained a great deal of damage with constraints on the amount of credit being given out tightening ever so slowly yet firmly. More and more people are finding it difficult to secure credit, especially those with no credit history to offer or those with only fair or bad credit behind their name.

One of the resultant facets of the credit crunch is that lenders are initiating higher interest charges on all aspects of credit cards from the interest assessed on the daily balance to the interest assessed on overseas transaction fees to the interest charged on advanced cash fees. Late fees will surely be next to go up as credit card issuers begin to experience less profit as a direct result of fewer people having access to credit cards and the fees that they can generate for the credit card companies.

None of this is good for the consumer who is already in the throes of their own economic meltdown with freezes on income raises, a higher cost of living, and less affordable credit in all of its varied aspects. As people learn to cope without credit cards overstuffing their wallets, will they ever rush back to using them again once the floodgates to those slender slips of plastic reopens?

About the Author: Joseph Shalaby is a Mortgage Broker in Southern California with nearly 10 years of expertise and leadership in the real estate industry. His firm

American Mitigation Group

is a leading authority on mortgage crisis resolution, including:

Loan Modifications

, short-sales, deed-in-lieu, reinstatement plans, and traditional residential financing.

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High Risk Mortgage Loans For Bad Credit Borrowers 5 Tips To Get A Good Rate

Monday, April 9th, 2018

By Marie-Claire Smith

There is almost nothing a person can buy that gives him or her as much pride as does buying a home. The entire home-buying experience is really something to get excited about, including choosing a good neighborhood, going from home to home, and making an offer.

The best part, though, is walking through the front door of your new home shortly after having signed your new mortgage loan papers.

The dream of home ownership is alive and well today, despite challenges in the housing market and issues with the overall economy. Good times or bad, people continue to buy and sell homes just like at any other time in modern history.

The vision of buying a home of one’s own can feel a bit more dim if you have a poor credit (FICO) score. Most people with bad credit scores are their own worst enemies, telling themselves over and over again in their minds that they cannot possibly have the house of their dreams, given their score.

This sentiment is just not true, however. The key is to know how to shop for a home and how to pull the right ropes as you go through the mortgage loan process.

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If you are on the lookout for high-risk mortgage loans for bad credit borrowers, here are 5 tips to get a good rate:

1. Find a house that speaks to your soul but that is also good to your pocketbook:

Finding just the right home on which to make an offer is such a personal decision. A home represents so many things to each of us. Your choice of home has to suit you mind, body and soul or you should just pass it up and keep searching. All of that being said, make sure that you choose a home that is well within your financial means. Given your bad credit score, you should consider buying a home that is lower-priced that the best one you could otherwise afford to make payments on.

2. Consider FHA programs and foreclosed homes:

Look at all of your options, including FHA programs (for U.S. residents) and homes that have been through foreclosure. These may allow you to qualify for special home-buying assistance or to pay less for a home at auction.

3. Shop for a loan from lenders who seek poor credit borrowers:

Some home mortgage lenders specialize in working with people who have poor credit scores. Be sure to seek out these lenders as you build a list of candidate mortgage lenders to which to apply. Your chances in qualifying for a loan will be much higher with them.

4. Order your free credit report and fix errors you find there:

If you are a U.S. citizen or resident, you have the ability to request a free copy of each of your credit reports (i.e., one from each of the major credit bureaus) each year. Go ahead and do so; then, report any issues or misreported line items that you discover in any of them.

5. Do not rest until you have applied to at least 3 high-risk mortgage lenders:

Follow through and apply to at least 3 high-risk mortgage lenders. If you apply to just one and for some reason do not qualify, just go onto the next. Even if you do qualify for an offer on the first loan application, still follow through in applying with all lenders.

Follow these 5 tips for getting a good rate on mortgage loans for bad credit borrowers and get that feeling of pride of ownership that comes with owning a house.

About the Author: Get access to more bad credit mortgage tips and lending resources at:

My Bad Credit Mortgage Lender

.

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With Bad Credit Loans Now Imperfect Credit Score Is No More A Hurdle

Sunday, January 28th, 2018

By Sean A. Kelly

With bad credit loans, you can get the best option in loans in spite of a bad credit rating, but just spend a little time in comparing what various lenders are offering. Bad credit home loans have become a good option for those who suffer from bad credit, but want to refinance their mortgage or go in for a new home equity loan. Here’s how it works: the mortgage loans themselves are structured in such a way that it helps these bad credit home loan borrowers to do a quick debt consolidation with affordable monthly payments. This generally does away with the need to produce a clean credit record. Many people think that it is impossible to get a home loan with a bad credit history unless one can afford to pay exorbitant interest rates. But there is a way out in the form of bad credit home loans or mortgage loans. With your house as collateral your home loan application has bright chances of approval for a mortgage. Bad credit home loans are meant for those people who have a history of bad credit, but still want to buy a house of their own. Millions of Americans with poor credit are heading for bad credit home loans. They all dream of possessing their own home with the help of bad credit loans.

You are certainly not alone if you have experienced financial difficulties at some point in your life. This could cover anything from missing a credit card repayment to filing for bankruptcy. Unfortunately, this will almost certainly affect your ability to access a competitive mortgage deal. In fact since the credit crunch hit the US mortgage market, any black spots on your financial history could prevent you from finding a mortgage full stop. Bad credit mortgage (also known as impaired credit, or sub-prime mortgages) have, until recently, been widely available to US borrowers. In recent years many lenders decided to offer special mortgages to those classed as sub-prime borrowers (typically at a higher rate than standard deals). This included anyone who had ever been declared bankrupt, who had fallen into arrears on a mortgage or who had suffered other debt problems in the past. Bad credit mortgages were also available to those with County Court Judgments (CCJs). Non-conforming, sub-prime or bad credit mortgages are becoming common in today’s mortgage environment and many of the mortgage lenders are now offering very competitive mortgage products to cater for this growing market. Take the expert advisers that will take you through the steps to repair and improve your bad credit rating and will support you through the bad credit mortgage process providing you with first-class, independent mortgage advice on all the options available, whatever your situation; first-time buyer, home mover, remortgaging, buy-to-let or right to buy.

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Did you always hope, wish, and pray about being eligible for bad credit home loans? It is important to remember that just one late payment that you would have made years ago could leave your credit score in a bad position. This can come in the way of your new home and you. Everyone hopes to have a beautiful home. But little faults on your part can become very annoying in the future. You need to take the advantage of bad credit loan programs that are easily available through specialist dealers. Bad credit home loans are those loans that are given to people who have a history of debts. The rate of interest on these bad credit home loans is generally higher than that on the conventional loans. And if the borrowers fail in regular payments of their bills, the interest rate may go up even more. Do not allow poor credit scores to handicap you, search online for bad credit loan programs and rest be assured to open a new world of bad credit loans.

About the Author:

bad credit loansbad credit mortgagebad credit loan programs

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Passive Income The Focus Of The Wealthy

Sunday, October 8th, 2017

By Robert Serina

Passive income is the key to becoming financially independent. Converting earned income into passive or portfolio income is called investing and is the key to becoming wealthy…

Passive income usually comes in two forms:

Well managed…

* Businesses

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* Real Estate

People usually spend no time learning how to convert their earned income into passive income. This is exactly why most people have someone they call boss who controls how much money they make and when, and where, and how..

Passive income requires the biggest investment in time into increasing your general financial education, as well as your overall understanding of the investment you have chosen. It takes a change in your focus.

Most people hope to one day get a promotion and be making more money. The problem is making more money does not solve their money problems. You earn the money and you spend the money. This is known as earned income and a poor cash flow pattern.

One day your hard work pays off and you get your promotion and you start saving a little and investing into a portfolio. As well as buying liabilities such as a house or car. This is a middleclass cash flow pattern.

Unfortunately, this is where the road stop for most people. The problem is when you focus on anything but passive income you lose the ability to quit your job and free yourself from your dependency on your paycheck.

Everyday you chose to not focus on learning how to master money you are placing a large part of your financial future in the hands of people that may or may not care about you and your family’s well being. You are also sacrificing time that could be better spent invested into your financial future.

Passive income is income that you receive whether or not you are actively involved in earning it. Passive income is when you have your money working for you. Changing your focus to producing passive income involves building assets. This is the cash flow pattern of the wealthy and it is directly tied to passive income.

The quality of your investment plan depends on your ability. Your results also depend on your ability. Therefore, it requires a significant investment into your financial education in order to produce passive income with success.

About the Author: Hello my name is Robert a year ago I made a decision that I would not be a slave to money. This is what I learned.

Free – Debt Help RSS feed- no sales junk only helpful content to guide you on your journey to financial independence.cleveland-real-estate-debt-help.com/debt-help.xml

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