5 Fatal Mistakes We All Make That Drive Down Our Credit Scores

Author: Ron Cahalan

Most people don't realize that they can drive down their credit scores even if they have a near-perfect record of paying their bills. The five classic mistakes you need to avoid are:

1. If you are applying for a mortgage, never pay off old collections, judgments or tax liens until the closing. (Ask your mortgage lender if you pay these debts at your closing.)

When you pay these debts off before applying for a mortgage, they are treated and scored as new and recent accounts with delinquent activity. This drives your credit scores down.

2. Closing credit card accounts initially lowers your scores. Again, this is due to your action showing up as new and recent credit activity. Any new or recent activity will have an initial detrimental effect on your scores.

Of course, after you close inactive or unnecessary accounts the scores will eventually come up because you will have less credit or potential credit risk. But it may take months for this to occur. Unfortunately most people close superfluous accounts right before applying for a loan thinking that it will improve their scores. If you want to close these accounts, do so well in advance of applying for a loan.

3. Don't keep high balances on credit cards and revolving debt. Maintaining balances under 30 percent of the available credit on each card can improve your scores. For example, if your available credit on a card is $1,000 keep the balance under $300. Also remember to pay off debt instead of moving it to other revolving accounts. Moving balances to zero- or low-interest credit cards can actually lower your scores.

Lured by credit card offers with low initial rates, many consumers move their credit card balances over and over again to keep their accounts at lower rates. This creates new activity on your credit report and lowers your scores.

4. Don't apply for credit you don't need. Many people are tempted by department store promotions offering them 10 percent to 20 percent off their purchases if they apply for a credit card. What may look like a great deal really isn't because the new account will lower your credit scores.

Use credit cards wisely. Remember that someone who has a good credit card history is viewed more favorably by credit bureaus than someone who has no credit cards. To build an effective credit history, have a mix of installment credit (cars, furniture, etc) along with credit cards and mortgages.

5. Don't assume the collection account, judgment or tax lien you paid has been reported to all three credit bureaus. Likewise if you close an account, don't assume that has been reported to all three bureaus.

Unfortunately, agencies and creditors are quick to report you when you owe them money or have made a recent mistake. But they can be slow to report the final resolution to that account when you have paid them off. Collection agencies and the creditors that have sold your account to the collector are both extremely poor at reporting the account paid in full. If you have declared bankruptcy you need to be especially vigilant. Less that 50 percent of the accounts, collections and judgments discharged in a bankruptcy will show up on your credit reports after the completion of the bankruptcy.

It is your responsibility to make sure that all three bureaus have the most recent and accurate information about you. You can write to them or file online disputes with each individual bureau. Be sure to supply them with copies of paid receipts and any correspondence you may have to ensure that your record is recent and correct.

Ron Cahalan is a 26-year veteran of the mortgage lending industry. His controversial new book, ""Lenders Are Liars,"" exposes what he calls the greed and lack of ethics in the industry. It provides steps homeowners and borrowers can take to get the best rates and negotiate lower closing costs and other essential information homeowners must know.

About the author: Visit http://www.LendersAreLiars.com for free eBooks on such topics as ""Basic Guide to Debt Relief,"" and ""15 Top Ways to Save Money"" and to be entered into a drawing for an iPod.

Franchise Opportunity - How Do I Raise Funds to Buy?

Author: Naz Daud

Many people buying a franchise opportunity or starting a business for the first time raise funds by getting a second mortgage on their property. This method is extremely popular due to the fact that it is possible to raise funds at exceptionally favourable terms. The interest rates are the lowest in the market and you can spread payments over many years.

Many people turn to their family and friends to either provide funds. The benefit of getting loans from friends and family is that often there is no arrangement fee and interest is usually waived. The problem with this is that if you fail for whatever reason chances are you will also lose a friend and bring financial pressures to bear to someone close to you!

If people are trying to raise money from the banks and they do not have a decent credit score they can often overcome this by getting personal guarantees from people close to them. Banks now know that if there is a problem getting repaid they can chase the guarantor for sums outstanding. Again this method carries the risk of bring you into disrepute with someone close to you.

One of the benefits of buying a franchise versus starting a business on your own is that many lending institutions look more favourably at lending for franchises. The reason for this is that franchisees have a much better track record of repaying monies due then people starting their own business. The majority of franchisees are still trading after five years where as the majority of people who choose to go it alone fail!

Usually, banks will lend fifty percent of funds required for a new start up whereas they can lend up to seventy percent for people considering a franchise. Many banks have already analysed the franchises prior to the approach for funds. They know as much about the franchise as the potential franchisee and in many cases have carried out more due diligence.

Many banks have franchise managers who specialise in assisting prospective franchisees. They have already prepared guidelines to assist and advice them. They have also been trained to examine new franchise opportunities and can point out the potential and downfalls of the type of business that is being considered.

Franchise managers can assist with the creation of business plans and forecasts. They will also help in analysing the franchise fee and ongoing royalty payments. On average, royalty payments vary between ten and fifteen percent of turnover.

Usually this advice is free and fees are only payable once funds have been approved. The recommendations they give are invaluable and based on many years of experience lending monies to franchisees. Be wary of lending institutions which insist on a charge just to examine your case.

Even if the funds are present to buy the franchise, it is still a good idea to approach the banks and see how they feel about the franchise that you are considering purchasing. At this point it is probably not the time to let them know of your financial situation!

Always base your choice of a franchise, not only with regards to the money making potential but also your lifestyle. It is important to find a business opportunity that you can commit to for many years!

About the author: Naz Daud

Business Franchise Opportunity Business Directory & Franchises Ireland Franchises

Bad Credit Mortgage UK: Use an Online Mortgage Calculator

Author: Johnathon Smith

If you are interested in obtaining a bad credit mortgage , you are not alone. The fact of the matter is that not everybody has perfect credit. And with that being said, not everybody wants to rent for the rest of their life. When you combine all of these details, it is easy to see why bad credit mortgages have become so popular as of late. To get a bad credit mortgage UK you need to first do a bit of legwork. After all, it is going to take some hard work and determination on your part in order to find the bad credit mortgage that is right for you. But if you are willing to search high and low, and do some basic research, you will end up with the perfect bad credit mortgage UK.

One of the most important things that you can do is use an online mortgage calculator before you begin to apply for bad credit mortgages. By doing this you will be able to find plenty of information. First off, an online mortgage calculator will give you a better idea of how much money you can borrow. From there, you will be able to tweak the type of home that you are looking to buy. Additionally, an online mortgage calculator can also be used to determine monthly payments, etc.

There is nothing to worry about when using one of these calculators. You can adjust the numbers time and time again until you find the ones that work best for you and your financial situation. From there, you will be set up to apply for a bad credit mortgage UK.

As you can imagine, it is not mandatory to use a mortgage calculator before applying for a bad credit mortgage UK. But it is a good idea because it will allow you to have a better idea of where you stand as well as your chances of securing a particular type of loan.

So before you apply for a bad credit mortgage, you will want to look into using an online mortgage calculator.

About the author: Visit http://www.badcre dit-remortgageuk.co.uk/ and get a Quote today, apply online if you are looking for a bad credit remortgage or a bad credit mortgage . Use our online mortgage calculator to see how much you could potentially borrow.

Exclusive Mortgage Leads Generated For Free

Author: Randall Neale

Free exclusive mortgage lead generating resources revealed to help maximize profits and eliminate monthly marketing budget.

The internet has allowed us to market the entire planet from the comfort of our own home or office. We are no longer limited to a local market and the possibilities are limitless.

If you're trying to generate your own exclusive mortgage leads and do not want to spend thousands on your marketing budget, you are in luck.

Randy and Courtney Neale have spent years and thousands of hours learning how to get their mortgage website on the first pages of every major search engine using free resources. Their time and efforts are making people money and saving them the most valuable commodity they have; Time.

""My wife, Courtney, and I have learned how to utilize the internet to promote and market our mortgage business to the entire planet for free and our website is on the first pages of Google, Yahoo, MSN, Ask, and various other search engines and we have done it all for free."" Randy says.

Once you pay the upfront premium for expensive and typically bogus mortgage leads you are instantly in the catch up mode trying to earn that money back and then get into the profit mode. The last thing you want to do is spend thousands of dollars every month on mortgage leads. The only problem is; how do you market your mortgage business without paying money? The answer; purchase Randy and Courtney Neale's e-book, Free Mortgage Traffic at www.FreeMortgageTraffic.com.

The problem with paying for pay-per-click campaigns to market your mortgage business is that it costs thousands of dollars every month. Every time someone clicks on your website you should hear ""KA-CHING"", because it's money coming right out of your wallet.

The information, techniques and ideas outlined in Free Mortgage Traffic, when followed correctly, will result in generated traffic to your website, resulting in a pipeline of people to follow-up with and convert into sales. Sales is a number's game, the more people viewing your mortgage website the more sales you will close and the more money you will make.

Instead of paying thousands of dollars every month for so-called exclusive mortgage leads , now you can generate your own for free.

For more information on how to generate your own Exclusive Mortgage Leads, please visit www.FreeMortgageTraffic.com

About the author: Contact: Randy and Courtney Neale Exclusive Mortgage Leads

Home Business Internet Income Program: Clicking It Rich Online

Author: Ikey Benney

This article is about the ""SECRET"" on how to succeed in home based business opportunity program without doing any work or selling a product/service or doing any cold calling or listening to conference calls or doing affiliate programs or MLM programs or eBay auction business or working your self to death trying to get website traffics so as to generate sales or doing any other moronic, time consuming, fluffy and nutty internet money making program filled with hassles

It seems that millions of people have dabbled into various home based business programs and spent money and time for a couple of years working themselves to death to succeed but have failed miserably and are frustrated and may have given up on their dreams of creating true wealth and financial security from a home based business.

Are you one of these people?

If yes, read on to discover an eye-opening ""SECRET"" which may rock your world and finally give you the little known ""SECRET GOLDEN KEY"" to unlock vast internet wealth and make all your dreams to come true.

Most people got fade up from doing 9-5 jobs and all the stress and hassles involved and decided to try their luck in doing home based business opportunity programs which they operate from home to generate auto-pilot cash flow.

However, most of these people are ordinary folks who have no computer programming or business marketing or webmaster or web designing or website promotion skills.

Therefore to get their home based business programs off the ground, they had to spend a lot of time and money to seek and find website designers, web hosting companies, website marketing information and had to read hundreds of e-zines, e-books as well as attend $5000 hot seminars conducted by snake oil internet marketing wannabe gurus.

Yes, there are millions of people who are making large amounts of money doing home business programs and even affiliate programs.

Ironically, they include these so-called internet marketing gurus.

However, the problem is that they do not tell you the whole truth about the ""secret"" to get rich doing home based business program, because they don't want you to know the WHOLE SECRET and begin to compete with them!

They do not tell you the WHOLE TRUTH about how to generate website traffics.

If you cannot generate massive website traffics, you will not get website visitors or sales and you will fail. There are very powerful little known secrets on how to generate massive website traffics for any home based business program.

However, the so called gurus and webmasters do not share all the secrets.

They sell only half truths to you for $39.99.

Half truths are very dangerous because they complicate matters and waste your valuable time and resources.

Some home business marketers have been told by the internet marketing gurus to buy traffics from traffic companies, to do banner advertising, to do opt-in e-mail marketing or joint ventures.

Most of these internet marketing strategies have been dead and invalid for a few years now. They do not work anymore.

There are millions of fake traffic companies selling 1000 traffics for $10, 50,000 traffics for $50, 1,000,000 traffics for $500.

So, you spent your hard earned money to buy the traffics.

And you are told it would take about a month for them to deliver all the traffics and a report and proof will be sent to you after the traffics were sent.

So you waited for a month, but at the end, you did not get even one sale, even though the traffic company claimed they had sent 1,000,000 traffics to your website and also gave you a proof for it.

What you did not realize was that, yes, they sent 1,000,000 hits to your website, but they were computer generated, and not real human beings!

That was the reason why you did not generate even one sale.

You have been conned and ripped off!

So, you felt angry, scammed and frustrated.

Therefore, you decided to try to get traffics from the search engines.

So, you squandered $5000 to attend seminars by the so-called website marketing gurus and spent a lot of time reading all their hare-brained silly e-books and listening to their tapes and watching their videos.

From all these you probably learned how to optimize your website, do link exchange and submit your website to search engines.

But what happened after you did all these?

To your horror, you discovered that the major search engines would not even index your website for at least 6 months!

This is what is called being sandboxed.

Your website was placed on probation for at least 6 months.

So, there was no way to get any traffic.

Your website had not been included in their databases.

So, since there was nothing you could do about that, you decided to wait.

You waited and waited for 6 months.

Then luckily, finally in about 8 months it was indexed.

Therefore, you started expecting traffics and hits from the search engines so you could finally start making sales and earning income.

But what happened when you checked your keywords positions in the major search engines?

You became shocked to discover that the largest corporations dominated all your keywords and your website was no where to be found in the top 100 websites in the search results!

Holy mackerel, you moaned.

No wonder you were not getting any traffics or hits or making any sales!

Ouch. That hurts.

It was then about 1 yr since you started your efforts to earn income from a home based business program.

At that point, you were angry, frustrated and disappointed.

Who would blame you?

Nobody enjoys failure.

So you decided to fight on by hiring a website search engine optimization company (SEO or SEM) to do all the work for you so you could get to the top 10 positions in your keywords and begin to generate traffics and sales.

You plunked down $2,500 for the SEO company to work their magic for you, in addition to agreeing to pay another $100-$250 monthly for them to maintain your keyword positions.

They told you that you should not expect any result for at least 3 months-6 months and you had to agree because you had no choice.

If the SEO company you hired was a genuine one and they did their work right, yes, in 3-6 months, you would finally started getting traffics and sales.

Yahoo! You exclaimed out of excitement.

At last, you finally made it.

You felt happy and wanted to scream and tell the whole world.

Sales were coming in.

You were then able to start paying some of your bills, especially your rent or mortgage, insurance, medical and car loan as well as other payments.

But after 3 months when the major search engines updated their databases, your keyword positions disappeared and suddenly your website traffics as well as your sales screeched to zero!

You were back to where you began! Zero!

No traffic and no sales, in addition to having spent $2,500 and additional maintenance fee of $100-$200 monthly for about 3 months.

When you phoned the SEO company, they told you that it was not their fault and they would keep charging you $100-$200 monthly as you agreed and that you must have patience because after the next search engine update, your website keyword positions could go back up to the top 10 positions again.

You do not have to go through this. Enough is enough.

This is not how those who are getting rich online are making it.

There is a better way to get rich online without selling your soul to the devil.

And what is great about it is that there is no website required, no product/services to promote, no search engine optimization needed because there is nothing to sell, so you do not need any traffics or to squander your hard earned money paying website search engine optimization companies $2,500 plus $100-$200 monthly.

This little known but extremely potent and powerful millionaire's secret of creating, preserving and propagating wealth is 100% legal, easy and fun to do.

(http://www.secret33.com/home-based-business-program)

All you will be required to do will be to open a special ""INTERNET FINANCIAL ACCOUNT"", click your mouse and enter a ""SPECIAL CODE NUMBER"", then click your mouse a second time and you make money.

The amount of money you make may vary from $100 every hr to $2,500 daily and even $100,000 monthly.

And you can make fast cash all day, 7 days and 365 days from the comfort of your home or office and from any country in the world.

There is no limitation on how much money that you can make.

It is the fastest and greatest ""SECRET"" to creating infinite wealth on the internet without doing any work.

Read my lips: no work. Nada. Zip.

This is hot stuff and that may be the reason why you may not have heard about it because the millionaires and the ""power elites"" who have been using it to create vast wealth without doing any work have hushed it up and jealously hidden it and kept it away from the public.

Can you blame them?

If you wake up tomorrow and discover that there is a goldmine or treasure in the ground under your home, will you place a full page ad in New York Times newspaper to tell the whole world?

However, for a little goodwill fee, you can learn about this mind boggling millionaire's ($100,000 monthly for life) fast wealth creating ""SECRET"".

Anything great that is worth its weight in GOLD costs money.

If you're frustrated and you are ""sick and tired"" of being ""sick and tired"" because of your failure to get rich from home based business programs, then you must get this jealously guarded ($100,000 monthly for life) fast wealth creation ""SECRET"" and use it to create abundant wealth, financial security, success, and happiness which you richly deserve.

You can discover how to get rich from this jealously guarded ($100,000 monthly for life) ""SECRET"" of the ""Money and Power"" Elites, the multi-national and multi-billion dollars corporations, largest banks and governments of the world, the ""Movers & Shakers"" of International Banking & Finance, Business moguls & Tycoons, CEOs of major Corporations, secret societies and the privileged blue bloodlines of the Wealthiest Families of Europe and the Americas.

With the millions of dollars which you could potentially make from this $100,000 monthly for life, millionaire's ""SECRET"", you'll be free like a bird to buy a mansion, with the most lavish and expensive furnishings, jewelry, antiques, electronics, a 50ft yacht, dream luxury cars, pick your choice: Lexus X470, $44,000 Jaguar 2007 S type, Silver Porsche Carrera, $180,000 Ferrari Testarossa, Mercedes 2007 Model S Class, 2007 Rolls Royce Silver Seraph, Bentley Mulsanne S, $220,000 Bentley Arnage Silver Tempest or a flaming red Lamborghini Jalpa!

You can make all your dreams in life to come true, without any hard work!

May these insights into home based business opportunity, online income opportunity, internet wealth secret, internet millionaire secret, shortcut to online wealth, home business internet money making, earn income online, residual auto-pilot cash flow program, website traffics, website sales, affiliate program, website marketing, website search engine optimization, SEO, SEM major search engines, website internet marketing gurus, help you make millions of dollars and to achieve your life's ambitions and dreams.

Copyright Info:

This article is copyrighted and you may publish this article at your website, in your e-zine (newsletter, blogs) or send it to a friend as long as you retain the author's resource box, including the website address, and refrain from altering the content or using it in any re-direction manipulation scheme.

If you do not agree to these conditions, please do not copy and use this article.

Anyone who violates this condition will be subject to legal action and payment of damages for violation of our copyrights. Thank you.

Ikey Benney

About the author: I-key is the creator of $10 0,000 monthly for life automated home based business autopilot cash flow program Discover the jealously guarded ""WEALTH SECRET"" of the rich and powerful. No work involved. hom e based business, internet income program : http://www.secret33

The Advantages of Home Ownership

Author: Erick Larson & Vicki Walker

Buying a Home is at the heart of the ""American Dream"", and it's a big step in anyone's life and probably the biggest financial commitment you will make. It can bring happiness and provide a solid foundation for you and your family. It has also proven to be a wise investment in past years. It has many benefits, but today I highlight what many believe to be the three biggest:

Tax Breaks

When compared to other investments, few can generate the healthy and long lasting tax breaks that home ownership does. When you become a homeowner, there may be tax breaks that you can take advantage of that renters and non-homeowners cannot, the mortgage interest deduction being just one of them. Sometimes ""points"" paid to obtain a home loan are deductible.

In addition, the deduction of your real estate tax on your federal income tax return is a common practice. Some homeowners choose to use the built up equity in their home to obtain Home Equity Lines of Credit (HELOC) or home equity loans. Interest on these loans may also be tax deductible. With investment real estate, additional tax advantages include the deduction of depreciation and other expenses. With proper planning you may receive tax advantages that last a lifetime. As always, consult with your own tax advisor as to the specific benefits of home ownership that apply to you.

Equity

A home is an investment that can, and usually does, increase in value over time. In some markets, home values have been rising dramatically in recent years (California, Florida, Nevada, Arizona, etc.). In other markets the rise has been more slow and steady.

In addition, you can use your own hard work to make improvements that will increase the value of your home. Each improvement that you make will add to the overall value of your home and your way of living.

As the value of your home increases, and the amount of your mortgage shrinks, you build equity. That is, the money that would be left over if you sold your home and paid off the mortgage. As mentioned above, you can borrow against this equity should the need arise. It's almost like a savings account that you live in.

Community

Moving into a home gives you a chance to meet new people, get involved in your community, patronize local merchants, and shape your new neighborhood. By improving your community you raise the value of your home and others in your area. It's a way to put down roots and invest in your town. Home ownership provides a sense of permanence and a solid foundation for our lives, and the lives of our children.

Buying a home may be the single, largest investment you will make in your life. But there are so many benefits, some tangible and some emotional. If you are paying rent year after year, you are missing out on the advantages mentioned above. Maybe now is the time for you to take the plunge and buy a home, condominium or townhouse and experience this part of the ""American Dream"". So choose a Realtor and get going today.

About the author: Erick Larson & Vicki Walker are Realtors serving clients in Northern California. For more information about Sonoma County Real Estate , see Erick. If your interest is in Davis Real Estate and Homes for Sale , see Vicki.

Bad Credit Remortgage UK: You can get what you need

Author: Johnathon Smith

Do you have bad credit? Do you need to get a bad credit remortgage UK, or maybe a first mortgage? If so, you are not alone. And although you may think that it is impossible to get the type of loan that you need, nothing could be further from the truth. The fact of the matter is that you can get a bad credit remortgage UK if you are willing to take the time to search the various lenders who work in this area of financing.

If you are interested in bad credit remortgage , you need to first start out by obtaining several quotes. While this may have been difficult in the past, the internet has made it easier than ever before. You can easily go online, find a broker, and then apply for a bad credit remortgage UK. This will only take you a few minutes, as compared to a few hours if you were to call several lenders and institutions on the phone. When it comes down to it, the internet has changed the way that the mortgage and finance industries operate.

Once you have obtained several bad credit remortgage quotes, the next step is to compare and contrast each one. Take a close look at all of the details that are presented to you as well as any underlying details that may come back to haunt you. Just like any loan that you secure, with a bad credit mortgage you need to take your time. This is the only way to ensure that you get yourself into a good situation.

All in all, getting a bad credit remortgage UK is not impossible. If you start out by searching for online quotes you will be ahead of the game from the start. You will want to get your quotes, and then apply for the loan online. This will not only cut back on the time that it will take to secure the loan, but it will also give you the best chance of getting a solid deal; despite your past problems.

About the author: Visit http://www.badcre dit-remortgageuk.co.uk/ and get a Quote today, apply online if you are looking for a bad credit remortgage or a bad credit mortgage . Use our online mortgage calculator to see how much you could potentially borrow.

50 Year Mortgage - Are You Sure?

Author: Andrew Johnson

The 30-year mortgage has been around forever. Within the last 10 years we have seen the emergence of the 40-year mortgage. And now, in the last couple of months, the introduction of the 50-year mortgage. We knew it was coming, we just didn't know when. Are you sure this mortgage is right for you. Let's look at who should consider this type of loan and why.

Right Place, Right Time

This type of loan should only be considered under certain specific circumstances. There are parts of our country where the real estate market is booming and the prices you must pay for a home in those areas is several hundred thousand dollars. And this is not for a new home, this could be for a home less than 2,000 square feet built in the 50's. If you happen to live in one of those areas you know exactly what I'm talking about. Home ownership for couples early in their careers is very challenging, and realistically unaffordable without some creative financing. That is where the 50-year mortgage comes in. It's intention is to allow people in these areas an opportunity for home ownership that didn't exist before. Spreading the payments out over 50 years may lower your monthly payment enough to make home ownership a reality.

What's The Catch?

I'm glad you asked. Most, if not all, 50-year mortgages are 5/1 Adjustable Rate Mortgages. This means that for the first 5 years your interest rate is fixed. Beginning in the sixth year and every year thereafter, your rate will adjust based on the prime rate at the time. What does this mean for you. It means two things. One, if you love your home and want to live in it for many years, you will want to consider refinancing before the five years is up. Two, with the appreciation the housing market is experiencing in these areas, some will invest in a home knowing they will be selling it in a few years and profiting from the appreciation of the home and paying a lower monthly payment while it appreciates. The last scenario is for the risk takers out there. Because there will always be the what if's. What if the housing market doesn't continue to appreciate? What if I can't find a buyer when the time comes? You get the idea.

Who Really Benefits?

First of all, if you don't live in one of these type of real estate markets, or your planning to stay in your home for many years, it is my opinion not to even consider a 50-year mortgage. For those that do, or those not planning to stay in your home over 5 years, it could be the option you have been looking for to make home ownership affordable. As long as you understand what you are getting into from the beginning. Those who really benefit the most from this type of loan are the banks and mortgage companies offering them. Think about it, the monthly payment you will be making during the first 5 years is mainly interest. All benefitting the mortgage company because no headway toward the principal is being made. So, in reality, you have an interest only loan for the first five years. If you decide to refinance, the mortgage company or bank benefits again because you are converting to a new fixed rate mortgage and starting over for 30 or 40 years. So, you may be excited because you can finally become a home owner, but the financial institutions are the most excited of all.

About the author: Andrew Johnson offers tips and advice on various financial matters. He studies about different types of mortgages , banking, and investments.

The 5 Disadvantages of Condominium Ownership

Author: Nef Cortez

In the past condominiums were not necessarily considered to be a good investment for a variety of reasons, however that image has since changed dramatically. With the high price of single family homes, condominiums and townhouses are becoming more attractive to many buyers such as singles, retiring couples that are downsizing and small families that would like to purchase in excellent school districts. However, for those home buyers that have only considered a single family home as the definition of homeownership they may not be familiar with what options are available in the form of condominiums.

Condominiums are buildings in which individuals separately own the air space inside the interior walls, floors and ceilings of their unit, but they jointly own an interest in the common areas that they share such as the land, lobby, hallways, swimming pool, grounds and parking lot. While many condominiums are designed to look like apartments or are built in high rise city buildings, more and more builders are designing them where they can be referred to as townhouses. Townhouses are usually attached to one or more houses and can run the gamut from duplexes and triplexes to communities with hundreds of homes

In addition to paying a mortgage, each owner is responsible for paying a monthly fee to the condo association, usually referred to as the homeowner's association which is made up of the unit owners. The fee covers maintenance, repairs, grounds keeping and building insurance.

In the past condominium ownership suffered with a negative image for a variety of reasons, however that image has since changed dramatically. Once the thorn in homeowner's sides, condominium associations have worked hard in recent years to clean up their negative image where disputes and lawsuits were once rampant. Homeowner's associations have become savvier and much more professional about property management and have taken steps to prevent legal problems and disputes before they happen. However, there are some disadvantages that still need to be considered before you buy.

1) Monthly Homeowner's Association Fee

If there is a homeowner's association, you will usually have to pay a monthly maintenance fee that is separate from your mortgage payment. Many condominium owners factor this expense as similar to the costs they would have incurred for someone to do the lawn care and other maintenance if they owned a single family home. However, you should watch for unnecessarily high monthly charges and ask to see a copy of the latest financial statement from the homeowner's association.

2) Less Privacy

There is also less privacy than with a detached single-family home. Communal living is not always desirable for some people and the noise level generated by living in close proximity to others can influence some buyers to simply look elsewhere. Usually, the biggest concern is about parking for the owners and for their guests. However, many condominiums are being designed with their own garages and have common parking areas available for guests.

3) CCR's Can be Very Restrictive

CCR's or Covenants, Codes and Restrictions are defined as the bylaws that govern the use of the property. Most CCR's are reasonable, but some can be very restrictive. There usually are limits on the type of exterior changes or improvements you will be able to make to the property. In addition, you may find, among other things, that they prohibit or restrict pets and the renting or subletting of units. Make sure that you get a copy of the CCRs and review them (they usually have a summary booklet) before you decide to make an offer.

4) High Tenant Ratio

Also, make sure you find out the owner-to-tenant ratio. Because many condominiums are often purchased as investments, there could be a high percentage of tenants in the building. Although this trend is also changing, especially in condominiums which are located in urban areas where they provide convenient shopping, access to transportation and other amenities thereby attracting owners who intend to live in their condos.

5) Resale Value

In some real estate markets, such as Las Vegas and Florida, builders have overbuilt condominiums and townhouses and they are being sold at a loss. However, in other real estate markets they have held their value as an investment despite economic downturns and problems with some homeowner's associations.

While some of these factors would discourage some buyers from purchasing condominiums, it may be just the right investment for others because it suits their lifestyle. In spite of these disadvantages, the high price of single-family homes in some real estate markets such as California and the influx into the housing market of more single homebuyers have made condos relatively hot national investments. A professional realtor can assist and guide you in showing you which are the great deals in your local market and city.

About the author: Nef Cortez has been a licensed real estate broker and has held various positions in the mortgage and real estate industry for over 25+ years. Visit his website at Chino Hills CA Real Estate for FREE information on foreclosures or check out his blog at A Slice of So Cal Real Estate .

What Documents Are Involved When You Buy A House?

Author: Vanessa Arellano Doctor

Buying a house is not as simple as just giving another person the money for the house, and then the house is instantly yours. There are a lot of other things to consider before the whole process of purchasing any house can go underway. Once all of these elements are taken into account, the whole purchasing process can go very smoothly and expediently, but if things are not in order, then the process may take a longer time to complete.

Before you should try to buy any house, there are a few things that you need to make sure first so that you will encounter less problems along the way. You must first make sure that you have enough money to allow you to invest on a house.

The amount of credit that you have to your name does not necessarily need to be the exact amount of what you need for the house that you intend to purchase, just as long as your credit allows you to pay whatever mortgage plans or whatever payment schemes you have entered into. If you are earning, make sure that you are brining in more money than what you need to spend. This will help ensure that you have enough money in your credit to be able to pay for whatever purchases you make.

Also make sure that you have enough money to use as down payment for the house, which ranges from 10-20 percent of the purchase price of the house.

It is also a good idea to look at other houses that are available in the vicinity, and see if there are other options for you. This will help you gauge what you really want in a house, and if the house that you intend on buying is what you really want.

Try looking at the overall layout of the other houses, the number of rooms in the house, the bedrooms, kitchen, garage, and anything else that you may think as important to help you decide. Try to find other choices just in case the house that you are currently looking at is not feasible later on. Also, try to look at the neighborhood as well. This can also be a factor in how you are going to go about making your decision.

You should also have a decent real estate agent that will help represent you in the entire process of searching and negotiation of the house. Once you have already found the house that you want, allow your real estate agent to negotiate with the seller in order to get you the best deal possible. Once this has been consummated, the process of turning over the house to you now begins.

Before the house can be legally given to you, there are a few things that is necessary in order for the contract between you and the seller of the house to be consummated. The final step in the process of buying a home is usually conducted in a title office. This is where the parties involved will have to sign the necessary documents and mortgage arrangements. One of the important documents that is needed when there is a purchasing of a house is the deed of the house. This will help prove that once the whole sale has been consummated, that you are now the legal owner of the property that you are purchasing.

Another document that is needed in this type of sale is the title of the house, which helps show people that you are the person who has any legal claim to the property, or that you are the person who has any lien against it.

Once these two documents are already with you, then the house that you have purchased can already be transferred to your name, and you now legally can do whatever you wish with it, just as long as your mortgage arrangements do not encounter any problems.

Vanessa Arellano Doctor http://realestatepress.org

About the author:

http://www.jump2top.com/%3c/a>

The Importance of a Good Appraisal

Author: Ivan Cuxeva Jr

What is it Worth?

When we decide to sell a car or some unused items around the house, we make some kind of judgment as to what we think it might be worth. We may base it on what we paid for it or what we saw one selling for down the street, but we are the ones making the determination. However, due to the fact that most real estate transactions involve securing a loan to complete the deal, a more precise and unbiased opinion of the value is normally required. The person who makes these decisions is known as an appraiser.

Appraisers are trained and certified and state licensed professionals that understand the significance of all the components that determine what a piece of property is worth - the residential or commercial appraisal. This price is known as the market value, and that is what most lenders use as the basis for the loan amount. They note the physical characteristics of the property such as lot size, building size, condition, and comparison to other similar properties. Other factors such as the strength or weakness of the real estate market in the area, and neighborhood in which the property is located. These and other factors enter in to the calculation of the current market value of the property.

Who do I Trust?

By now, if you are like me, your head is starting to spin trying to figure out what all this means. As a real estate buyer or seller, the most important thing is to understand the appraisal. Take the time to go over all of the factors and ask questions until you understand what you have. If you have reason to question the appraisal, ask for another appraiser. Your real estate professional or your mortgage broker can help you ""get a second opinion."" It may cost you more up front, but in the long run, it can be well worth the price - in peace of mind, if nothing else.

An understanding of the market in the surrounding area is key to the appraisal process. Identical property located in the Okanagan Valley of British Columbia would appraise different than one located in an area that is not as much of an attraction. Consequently, Okanagan appraisals would best be done by an appraiser who knew the area and the real estate environment. Likewise, a firm like Caruso Daniels, Inc., would be best suited to carry out Kelowna appraisals than someone who had not been in the area since 1978. While there are a lot of differences between residential appraisals and commercial appraisals, the same thing is true. When it comes to knowing what property is worth, it is best to deal with people who know the area.

When you are buying or selling property, you have enough to worry about without being concerned about the accuracy of your appraisals. Deal with a local appraiser with a good reputation among the real estate professionals in the area. Most of all - do your homework. If you do, you will choose Caruso Daniels, Inc. for all of your Kelowna and Okanagan appraisals.

About the author: Learn more about commercial appraisals from a trusted and well established source. Your Kelowna Commercial Appraisal is in good hands with Caruso Daniels Inc.

Spanish mortgage costs explained

Author: Steven Magill

There is nothing quite as daunting as having your hopes dashed by the rocks of ignorance. The ignorance that is referred to here is the simple fact of ""not knowing"" all you need to before making a decision. A deeper understanding of Spanish mortgage costs will help you make the right decision. Although it may seem a little confusing to a beginner, we have tried to highlight the key points.

Spain is a beautiful, peaceful, and stress-free lifestyle that appeals to many. However, without knowing all there is to know about purchasing property in Spain, it can turn into quite a headache!

Spanish Mortgage costs include:

Property valuation: Spanish Mortgages require a property valuation which means that a certified valuation company will make an estimation of the value of the property before a mortgage can be taken on the property

Land registry fee: Before a Spanish Mortgage lender will lend money towards the purchase of the property, it must be ascertained if there are any outstanding debts owed against the property.

Opening Fee: Usually around 1% of the value of the property, this is the charged set fee for establishing a Spanish Mortgage.

Mortgage Insurance: When creating a Spanish Mortgage there are three types of insurance required. The first deals with the contents of the house and the house itself. The second is life insurance and the last is mortgage insurance. The first is self-explanatory and the last two are not necessarily mandatory but becomes important when negotiating the mortgage for the house.

Notary Fee: This is a charge for the clauses included in Spanish Mortgage and is based upon how many clauses there are

Land Registry Fee: The fee established by the Spanish Mortgage itself and is usually the same cost as registering the land itself, only it is included in the mortgage

Stamp Duty: Anywhere from .85% to 1.7% of the value of the Spanish Mortgage

Deed Arrangement Fee: This fee is for the deed to be inscribed in the local land registry to be certain that all matters of the Spanish Mortgage are correctly done

Early Cancellation Fee: A 1% fee based on the value of the Spanish Mortgage should the owner cancel the mortgage

Partial Cancellation Fee: Usually based on the amount of the Spanish Mortgage that is paid off early

Subrogation Fee: This fee is similar to the opening fee, but is one that the person who takes over a mortgage pays in lieu of the opening fee as in a new Spanish Mortgage, and also sets a lower rate for Notary, land taxes, and registry

Interest Payments: This is the part of the payment made to your Spanish Mortgage that is charged as a fee for the bank to carry the mortgage and is higher at the beginning of a Spanish Mortgage than at the end

Capital Repayment: This is the amount in the monthly payment that covers the actual cost of the house less the interest.

About the author: Steve Magill is the right source for more information on the Spanish mortgage market. He is a partner in http://www.buyspain.co.uk and a Fellow in the British Association of Entrepreneurs (FBAE). He holds international renown for having hands-on experience in this field.

Making an Offer on a Home

Author: Lee Keadle

So you've found the home you want to buy. Now what? You need to make an offer to buy the seller's house. Your real estate agent will have the forms you need, and he or she will talk with you to decide what terms you want. Your agent will then write the offer for you.

There is more to an offer than simply stating a price you are willing to pay. You will also tell how much money you are going to put down for the earnest money deposit. This deposit is usually about one percent of the purchase price of the home. The earnest money goes into an interest bearing account until your closing for safe keeping. The company typically gives the interest earned to various charities. An earnest money deposit shows that you are a serious buyer, and the money you put down is refunded back to you at closing (usually in the form of a credit toward your closing costs). But, if you decide to not buy the house, you can lose your deposit. In this case, the sellers would keep the earnest money.

In the offer you will also need to tell the buyer how you are financing the home. Many sellers require that you send a letter showing that you have been pre-qualified by a mortgage company. Sellers want this confirmation because they do not want to risk taking their home off the market for a potential buyer who cannot afford the home or who is not serious. This letter will also tell the seller what mortgage company you will use, what type of mortgage you have been approved for, and how much you will put in your down payment.

The offer also states which closing costs the seller will pay and which closing costs you will pay. Although there are typical seller costs and buyer costs, you do not want to make any assumptions. Because offers have to be in writing to be valid, this is your opportunity to set down fair rules about who is going to do (and pay for) what.

Your offer will also state what inspections will be performed and what repairs will be made before the closing. You can also suggest a date for the closing, but many people's schedules will have to be considered when choosing a date and time (because there are a lot of people involved in a closing!).

Last but not least, you will state the terms of cancellation in your offer. If one party does not do what it was supposed to do, the offer can be cancelled. You will also state how long the seller has to make a decision about your offer - usually buyers give 24 to 48 hours.

About the author: Lee Keadle is a full-time real estate agent in Charleston, SC. He works with a team of three agents to give buyers and sellers the best services possible. You can search for homes and vacant land on our website at http://www.SearchForCharlestonRealEstate.com

Don't Over Finance Yourself When Buying A Home

Author: Dale Mazurek

So many people get financed for a lot more than they really can afford. In this article I hope to show you some reasons why you need to be careful with the amount you finance.

So many people go in and fill out an application in hopes of getting the financing for their dream home. To your surprise you are over qualified and you get approved for much more than you applied for. You have to be careful in this scenario. You may be tempted but you don't have to take the entire amount.

Very many people get approved for a lot more than they really can afford. They look at the monthly payment and immediately assume they can afford it. What they forget about is all the other expenses that can be incurred during the time you own your home. Way too often people get so caught up in the beautiful new home that they can buy that they forget about everything else that needs to be budgeted for.

Don't think everything will be fine just because you own your own property now. What you need to do is get a mortgage calculator so you can be more realistic about what your actual expenses may be. Too many people try and stretch their finances way too far or they just aren't very good with their money and then they get themselves into trouble. Now you have to ask yourself a couple of questions.

Do You Have Money For Yourself

Even while you own your own home you still have to be able to enjoy yourself to a certain degree. So you have to make sure you have money every month in your budget to have some fun. You should be able to afford a family vacation at least once a year. You might want to go out for supper once in a while. You need to remember you may still have student loans to pay and almost always there are credit card bills.

How About Home Maintenance And Repairs

Maintenance issues are absolutely not included in your mortgage when you get it. You are always going to have utility bills where ever you live. These can easily add up to hundreds of dollars a month. Now you have to think about lawnmowers, landscaping and regular maintenance. Some small things may be able to wait but many need immediate attention.

To live happily you have to make sure you know you're spending habits. You have to know how much debt you can carry. Remember if you just came from renting and you usually live pay check to pay check you might have to break some old habits. You want to enjoy your new home so if you find yourself stressed from the beginning then maybe you're getting in too deep.

Dale Mazurek

About the author: Dale has had to make the long journey back from bad credit. He is the owner of the website http://stcajo.ecreditdirectory.com/ which can get you fitted to the best credit cards for your needs. He is also the owner of two very popular blogs which can be seen at http://creditneeds.blogspot.com/ and http://relationshiptidbits.blogspot.com/

San Francisco Bay Area Real Estate: Buy Now Or Wait It Out?

Author: Errol Vincent

Probably the most popular real estate debate today centers around the San Francisco Bay Area home sales market and whether or not now is a good time to buy a home. With recent changes in the market, most buyers are sitting on the sidelines trying to weigh the pros and cons of jumping in to seemingly unpredictable and turbulent waters. While both home prices and home sales are falling nationwide, the market in the San Francisco Bay Area is a bit of an anomaly. According to DataQuick Information Systems, a real estate research firm, though fewer properties are selling in the Bay Area, and real estate inventories are growing, overall home prices are still going through the roof. It has been reported by news media that the median price for an existing single family home rose to a record $720,000 in April of 2007 though April's sales count was the lowest in 12 years. So what is driving the market, and is now a good time to buy?

The Wealth Factor The Bay Area housing market is significantly impacted by the level of wealth shared by the people buying homes there right now. According to the California Association of Realtors, higher-priced markets have been performing better than lower-priced or ""starter home"" areas in terms of the strength of both sales and price. On the other end of the spectrum, recent sub-prime mortgage market woes have stifled the ability of people with little money to put down, and those who have poor or marginal credit; to qualify for a home loan. This segment is being squeezed out of the market by tougher lending requirements. With fewer people in the starter home demographic able to qualify for a home, both home prices and home sales in lower-priced areas have been stagnant or declining. Whether you are looking for a starter home, or you are looking to move up; if you are trying to determine whether or not now is the right time to buy, it really all depends on 1.) your credit, 2.) your overall ability to qualify for a loan, and 3.) your ability to come in with a significant down-payment.

If You Have a Weak Credit Rating, Clean Up Your Credit In recent years, there really was a loan out there for almost everyone--though, if a buyer's credit was less than perfect it could really become costly. Today, however, the days of no down-payment loans are quietly fading into the distance even for the highly credit worthy. So, if your credit report shows excessive late payments, collection accounts, charge-offs or any other derogatory items, now would be a good time to put ""homeownership"" on the back burner and move ""cleaning up your credit"" to the forefront. That way, when a solid loan program is available for you, you will be able to enter into homeownership from a position of financial strength.

Taking Advantage of the Buyers Market If your credit is strong, you have money to put down on a home, your mortgage payments are manageable for you, and you plan to stay put for more than 5 year; by all means throw your hat into the ring---especially if you are looking for a starter home in a moderately priced area. While you probably won't walk away with a ""steal"" the odds are in your favor that you will be able to purchase a home at a great price. Don't be overly concerned about whether or not home prices will slip further in the coming months. If you are planning to stay put for a little while, it really doesn't matter.

Give Up on Trying to Time the Market What many people don't understand is that it is virtually impossible to ""time the market."" Over time, home prices in the San Francisco Bay Area have risen significantly. So, while the San Francisco Bay Area is in a unique type of slump consisting of slowing sales and rising prices, whether or not now is the right time to buy, depends on your individual situation.

About the author: Errol Vincent is the Broker/Owner of VINCENTHOMES Real Estate Services. For over 15 years he has assisted clients in the San Francisco Bay Area to buy and sell real estate. For information on foreclosures or to search for homes visit www.vincenthomes.com

Holiday home mortgages - a solid property investment

Author: Sean Horton

If you've ever fancied being a property investor and you've always dreamt of having your very own place in the sun, why not combine the two and get a holiday home? Holiday home mortgages give you the chance to own a solid investment as well as have a bit of fun too!

More and more Britons are now buying their own UK holiday home, and for three different - but all viable - reasons.

1. As a pure investment property. These buyers run their holiday home as a business, paying their holiday home mortgage wit the rental income and watching the value of their investment grow.

2. For a place to retire to. Many people are now buying a holiday home with the aim that when they retire, they can move in there permanently. Until that time, hopefully the rental income will be paying off the holiday let mortgage, enabling the owner to have a worry-free financial future when they do retire.

3. For holidays! Why pay rent to stay in someone else's property when you can buy your own? If you let the property outside of your holidays, the mortgage repayments should be taken care of during the high season, so, in effect, you are having free holidays!

By now you are probably itching to go out and get your own holiday home. However, you do need to be aware that there are some considerations that you will need to think about, such as management fees, insurance and what happens if your property is not let for a long period of time.

These things aside, apart from the obvious reasons of buying your own place in the sun, with holiday home mortgages you can attract other benefits, including tax breaks. While there is too much to go into here and you will need to seek specialised advice, I am sure we'll all agree that it's nice when the tax man gives you something back!

About the author: Sean Horton is Director of Holiday Let Mortgages which offers UK residents the finance to buy a UK holiday home. The site offers a free e-guide on Holiday Home Mortgages and the process for buying a UK Holiday Home as well as advice on holiday let insurance.

Remortgage Quotes UK Makes Repayment Cheap, Curbs Budget

Author: George Cummings

People look for remortgage for several reasons in UK. Some seek it for the sake of reduction in terms of their monthly payment on their current mortgage. Some find the current mortgage rate is too high to be paid. Again there are some in UK who simply want to get remortgage quotes to grab more benefit for the time being. But, whatever may be the reason of eyeing on remortgage quotes, the basic need is to cut the cost and remortgage quotes UK are ready to serve them all in any time, any where, obviously inside UK.

Remortgage quotes UK mean to put your property in a new mortgage where you get better benefits like cheap funding as well as better terms. Remortgage quotes pay off the outstanding balance of your earlier mortgage and hence it is put into remortgage. You can use your remortgage quotes in UK for several reasons, even for a dire need like debt consolidation.

Remortgage quotes are secured in nature where you have to put your property once again for the remortgage. The remortgage quote pays off the outstanding balance of your earlier mortgage. So, having a remortgage quote means you are relieved from all of the headaches of your earlier mortgage. With remortgage quote, you can grab a better and cheap rated quote which will allow curbing your monthly budget on repayment.

However, finding viable and cheap remortgage quotes is never a tough task if you go online where things are bound to be cheap enough. Lenders in large number flock there only to make the rates cheap because they are in large chunk there. That intensifies the competition and they are thus bound to offer you cheap remortgage quotes.

Remortgage quotes are gaining popularity day by day for the simple reason that they help the borrower to reduce the budget. And, money saving is the basic urge for anyone in this world.

About the author: George Cummings works as financial advisor in Problem Remortage.He is offering loan advice for quite some time. Problem Remortgage is a place where you can get the remortgage deal that will be beneficial for you in all respects.To know more about Remortgage quotes UK, remortgage, remortgage UK, remortgage quote, remortgage quote UK, online remortgage visit http://www.problemremortgage.net

Buying Homes Pre-construction

Author: Lee Keadle

Many people hear about buying homes in the pre-construction phase of development and having the home value skyrocket in the first few years. The stories usually involve someone ""getting in"" during the early phases of development when the builders offer good incentives and competitive pricing. These homes can be great investments, but deals like these are harder to find now than they were even five years ago. So, talk to your real estate agent about pre-construction homes (and investing in the Charleston area in general) if this is something you are interested in.

A lot of our clients have opted to buy homes pre-construction because they need time to sell their current home. Building a new home in Charleston usually takes anywhere from four to nine months. We have found that new construction is the best way for people to go ahead and buy a home (reserving a price in the market) but also postpone their closing date (giving them time to sell their house). Along the same lines, most builders only require you to put down a small amount (anywhere from $1,000-15,000 depending on price of house) upfront. After you make this payment, you don't usually pay any more until the house is built and you close on it. So, if you are still making mortgage payments on your current home, you don't have to worry about making double mortgage payments until the time that your house sells. Also, if you are an investor, it would be beneficial for you to try to not close for a while so that you can capture the appreciation of the home.

Another benefit of buying homes pre-construction is that you know your home will be low maintenance. Builders are required by law to give specific minimum warranties to ensure that you don't face any major problems during the first few years of living in your new home. One of the warranties is a minimum of 1-year ""bumper to bumper"" warranty which ensures that everything in the home is covered by the builder. There is also a 2-year warranty that covers all systems (electrical, plumbing, heating and air conditioning, etc.) in the home. Another warranty is the 10-year structural warranty which covers foundation and other structural problems.

An obvious benefit of buying pre-construction homes is that you get to choose many features in your home. Depending on the progress of construction, you can often choose flooring, cabinetry, light and plumbing fixtures, etc. You can either go with the upgrades, or you can keep the standard features in order to keep costs down. If you are buying a home during the early phases of development, you can usually choose which floor plan you want to use and even which lot you want to build on.

Although there are plenty of benefits of buying new homes, there are also some drawbacks. New construction homes sometimes sit on smaller-sized lots compared to older homes. Older lot sizes in Charleston are typically about 1/3 of an acre, while newer lots are generally ¼ of an acre. These averages vary according to area, and you'll find larger lots in general in areas that are farther out in Charleston. Another drawback of pre-construction homes is that you don't have a definite closing date. Due to weather and building permits, the builders don't always close on time. A third drawback is that people can't always walk through the house and see how it looks before you buy. New construction neighborhoods almost always have a model home to show you examples of finishings and upgrades. Although these homes have different layouts and features, they can still give you an idea of the quality of work you can expect from the builder.

About the author: Lee Keadle is a full-time real estate agent in Charleston, SC. He works with a team of three agents to give buyers and sellers the best services possible. You can search for homes and vacant land on our website at http://www.SearchForCharlestonRealEstate.com

Common Mistakes Made by Home Buyers

Author: Lee Keadle

Here is your chance to learn from other home buyers' mistakes! We've listed the five most common mistakes that a home buyer can make:

1) Failing to plan for the future - Even if you think you will live in your new house for the rest of your life, you should still plan your exit strategy. If, for some reason, you needed to sell your home, would you be able to? And, if you could sell the home, would you make any profit from it? Be sure to talk with your real estate agent about buying a home with resale value so that you can plan for any problems that may come up in the future. He or she should be able to tell you what to look for.

2) Not checking the Covenants and Restrictions - Some neighborhood Homeowners Associations are stricter than others. An active HOA can be good (it can keep your neighbor from painting his house Pepto-Bismol Pink). But, if you want to store your boat at your house, add on a garage, or install a privacy fence, be sure to check with the HOA in the neighborhood before you buy. If one of the neighborhoods you're interested in doesn't allow your boat, for example, you can either price boat storage elsewhere or look in another neighborhood.

3) Not getting all agreements in writing - So that all parties will do what they say they are going to do, it is important to get these claims in writing. Your real estate agent may get the builder or the seller to sign written addendums in order to protect your best interests during the home buying process.

4) Neglecting to perform home inspections - When your real estate agent writes your contract to buy a home, he or she can include an inspection contingency. This contingency gives you a way out of the contract if the home inspection reports more repairs than you want to make. A termite inspection is usually required by your mortgage company, but a regular home inspection is usually not required. We recommend getting this standard home inspection so that you know the condition of the home before you buy it. So, if there are serious foundation problems that you did not notice earlier, your inspection contingency can get you out of the contract (and usually without any penalties).

5) Forgetting to do a final walk-through - You have an opportunity to walk through your new home right before you officially buy it. Usually the final walk-through takes place the day of or the day before your closing. Chances are that when you first looked at the home, the seller was still living there. So, during the walk-through you can see the home completely vacant and ready for you to move in. You can see for yourself that there are no problems with the house before you close on it. Also, if you know that you will not be able to go to your final walk-through because of a flight schedule, etc., you can ask your real estate agent to go instead.

Now that you've read five mistakes made by other home buyers, you shouldn't make them yourself! Learn from other people's mistakes so that you can have a good home buying experience!

About the author: Lee Keadle is a full-time real estate agent in Charleston, SC. He works with a team of three agents to give buyers and sellers the best services possible. You can search for homes and vacant land on our website at http://www.SearchForCharlestonRealEstate.com

Think Low and You Will Stay Low

Author: Jonathan Leger

Let me tell you a story about a friend of mine, who started his life as a little country boy from Nigeria. He was very poor, as most in that country are, but he worked hard and managed to get through college and earn a degree as an Investment Analyst. I'll call him Eric, but that's not his real name.

He went to work for a company in his country that did business with many other countries, handling their investments in Nigeria and the neighboring area. One day a Russian client came into the office, and was introduced to Eric.

The Russian man had a question about a contract that was prepared for use in the USA. Eric looked over it, and in two minutes told the Russian man that the contract was terrible. After some discussion about this, the Russian was so taken with Eric's abilities that he offered him a job in the USA and paid him $2,500 in cash as a sign-on bonus.

Eric was stunned. $2,500 in his country at that time was like instant wealth!

But now Eric was faced with a decision. He was a country boy, and had a hard enough time living in the city of Benin in his home country of Nigeria. He spoke English, but with a heavy accent that was sometimes hard to understand. He would be taking on some hefty responsibility for a major bank in the USA, a country he had never even visited before. He was scared to death.

What would he do? Would he decline the offer out of fear of the unknown? Would he let the risk prevent him from bettering his life and that of his family?

I got to listen to Eric's story, one on one, the other day. It was truly fascinating what he'd been through and how he'd handled it all.

Eric was happy to say that no, he had not turned down the job. He took it, and despite the trials and difficulties, he did very well with it. Now he and his family all live here in the USA, and Eric owns a prosperous mortgage loan business.

When I asked him what helped him to overcome the understandable fears he had before taking the job, this is what he told me - and I will never forget it:

""Jon,"" he said, ""if you think low you will stay low.""

Truer words have never been spoken! If you THINK you cannot do better for yourself than you are doing right now, you never will. If you THINK that others can succeed, but not you, it will come true. What you THINK will be fulfilled in what you do.

Now, if a poor country boy from Nigeria can do the work and see the rewards, eventually moving to a wealthy country and owning a successful business - although he's a foreigner and still has a pretty heavy accent that is sometimes hard to understand - what's preventing you?

Is it fear? Is it the risk of loss? Is it because although you don't like your current situation, it's familiar - comfortable - and you're resisting the change that is needed to bring success?

If so, you're not alone. Physics tells us that everything in the universe takes the path of least resistance. When you drop a ball, it always falls down, because there's no resistance to it falling down. It doesn't go up, because that would require it to struggle against gravity.

People are no different. By nature, we are inclined to take the path of least resistance, to do whatever is easiest. It requires effort to get out of our rut and make things happen for ourselves.

But, like Eric, you can do it if you THINK HIGH, not low. Don't put yourself down or convince yourself that where you are now is where you're doomed to be. And don't let trials or difficulties make you feel inadequate. The best of the best in every endeavor had trouble getting there.

Stop thinking low, or you will stay low. Think high and you will reach your dreams - no matter how high they may be.

About the author: Internet Marketing, SEO and AdSense advice and articles are posted regularly to Jonathan Leger 's blog.

5 Questions You Should Ask A Real Estate Agent Before Hiring

Author: Vanessa Arellano Doctor

Buying any piece of real estate property is not as easy as it sounds. Although almost any first-timer buyers or sellers can do it, not a lot of them has been able to do it successfully, or has been able to get the best deal out of the whole house-buying or house-selling process. There are a lot of things that people, especially first-time buyers or sellers need to consider in order for them to be able to find the best house that they really want within a price range that they can afford, or to be able to sell a house that is reasonably priced.

Keep in mind that purchasing real estate properties is one of the biggest investment that any person can make, which is why you need the best quality help that you can get in order to make sure that your whole real estate house-buying experience ends in success. One of the key things that people can do in order to make sure that they stay on the right track through the whole house-buying or house-selling process is by hiring a real estate agent who is very diligent and competent. Here are a few things that you can ask your prospective real estate agent before you start to do business with each other.

How long have you been a licensed real estate agent?

It is important to check if your prospective real estate agent is a licensed real estate agent to ensure that he or she is qualified to represent you when you do start the entire house-buying or house-selling process. You wouldn't want to be represented by a person who is only acting to be like a real estate agent, but rather, you would want to get the best quality help that you can get when you do decide to purchase or sell a house.

It is also important to ask about his or her professional experience. You can choose to use inexperienced agents, just as long as it is with uncomplicated transactions, such as condos and townhouses. However, for other types of transactions, you should try to use agents who have at least 5 years experience under their belt, to make sure that they know a lot about the business already.

How available are you?

Agents who are only working part-time is not always accessible and readily available to their clients since they may have other commitments that may get in the way of their responsibilities with you. It is important to choose agents who are working full-time. This will ensure that you will be able to constantly keep in contact with him or her, especially when you have a lot of queries and ideas that you want to share with your agent regarding the entire house-buying or house-selling process.

How do you intend to help me?

People should expect that their real estate agents have a plan on how to purchase or sell a house. The agents must be prepared to offer you information about the prospective houses that you may have an interest in buying. Also, the agent must be knowledgeable about the financing process and mortgage loan options that may be available to you to help you purchase a house.

How many clients have you handled/are you handling?

There are agents who can handle a number of clients at a time, while others have a difficult time just juggling two. It is important to make sure that your agent, whether he or she is able to handle a lot of clients at a time or not, is only handling a few clients at the time that you are hiring him or her. This will put you in a better position since this will give your agent the chance to focus on your account, instead of dividing his or her attention to ten others.

What is your fee?

Of course, you shouldn't hire any real estate agent without first asking him or her about the agent's fees or commissions. Usually, agents work for commissions, wherein they get a certain percentage of commission from the sale price of the house that they have sold. However, it is important to keep in mind that cheaper or discounted real estate agents are not always better since they may not work as hard.

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Problem Remortgage: Cutting Down The Rate Of Interest

Author: George Cummings

If you think that the rates of interest of your current loan is too high, then consider the highly preferred loan policy known as problem mortgage. Problem mortgage is a loan scheme in which a person can switch their mortgage from current lender to a new lender who offer low rate of interest. This is a secured form of loan as mortgage is used by borrowers to the lenders. Problem mortgage generally helps the person to reduce the burden of interest rates.

In

problem mortgage , the new lender will pay all the dues of the borrower to the former lender in a single amount. And the borrower will be responsible to the new lender. Problem mortgage can be worth considering, if the rate of interest show a hike in the few months. With the help of this policy, you can very easily lessen your burden, and stabilize your financial positions. This scheme also creates opportunity to save money for the borrowers.

In the market, there are numerous lending institutions, who offer problem mortgage at marginal rate of interest. So, before coming to a particular decision always collect and compare the offered rates by different lenders. Following such steps will help you to get a rate according to your payback ability. You can also seek recommendations of the financial experts for a better deal.

Problem mortgage can be regarded to be the best loan strategy for bad credit holders. They can get an opportunity to recover and retain their weak financial position. Usually, in this loan policy lenders approve loans depending upon the applicant's monthly income, repaying capacity and his latest bank statement.

If you are thinking of approving problem mortgage in instant, then click the online application device, which is offered by every lender. This application process is fast and reliable, as it saves your time, and provides instant results. While using the hi-tech application process, furnish the precise information concerning your personal and credit score. So, problem mortgage has brought a great relief to the people who are paying high rate of interest.

About the author: George Cummings works as financial advisor in Bad Credit Remortgage Loans.He is offering loan advice for quite some time. Problem Remortgage is a place where you can get the remortgage deal that will be beneficial for you in all respects.To know more about problem mortgage, bad credit remortgage loans, adverse credit remortgage, bad credit remortgage loans uk visit http://www.badcreditremortgageloans.co.uk/

The Multiple Advantages of Secured Business Cards

Author: Ellene Bauer

Operating a business or reconstructing a credit position is so much simpler with secured business credit cards. These cards are similar to standard credit cards used today. However, possibly it is this fact that causes persons to be hesitant about it.

The secured business credit cards are credit cards that entail you to have a business for you to qualify for it and a savings deposit or collateral. This is to ensure that the lenders investment is protected in times of default payments. The credit limit would rely on the value of the savings deposit. Typically, secured business credit cards possess higher interest rates. Fortunately a lot of creditors are currently providing affordable interest rates to the borrowers. You may look in the World Wide Web for your excellent alternatives.

One primary advantage of secured business credit cards is its capability to assist you to begin a venture even if you have not made a credit score yet. Contrary to what few people think, secured cards aren't simply for those who have terrible credit standing, they're also for individuals who haven't earned credit standing at all. And for businesses who have fallen through difficult periods and is seeking for a way to mend things up and recover from the fall, availing for secured business credit cards might be the solution to that. The funds they might borrow could be helpful for their continuous transactions.

Secured business cards are your most excellent option if you want to get yourself and your business together again. Certainly, you will not like to be disqualified from your loan or mortgage applications due to that, would you? Secured credit cards offer a boost for your credit position. They normally look and work as unsecured ones, so do not be wary of bringing one.

Secured business credit cards might provide backup during financial troubles. Yet you could also help yourself in improving your present condition. You can start by making your own viable budget and sticking to it. This should be workable enough that you could save a few for the rainy day while you won't be able to neglect all your obligations, including paying your secured card bills.

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Real Estate Investing Unplugged

Author: Nate Rodnay

People invest in real estate for selling at a later stage for a handsome profit. For this they need to have a marketing strategy in place. Many new entrants in real estate investing have entered the business because they saw someone else do the same, and make lots of money. But it may not work for you.

There are more ways than ever before to profit from real estate investment:

1. Flipping:

In the industry, flipping is a term used to describe the act of buying, fixing up, and then reselling a piece of property. To flip a property in short term usually requires a large investment of capital, whereas long term flipping relies less on fixing up and more on the value of the area appreciating over time.

2. Offsetting Costs:

Many costs associated with renting the property can be offset even while the home is being renovated. If you are a long term investor after the renovation is complete you will rent to new tenants. You also have to take care of the hassles of finding tenants, the damage tenants might cause to your property, up keeping the property and performing repairs, etc. But still you are holding to your property and this can earn for you for the life time.

3. Garner the Foreclosed Properties:

A great way to make a bigger profit on your real estate is to purchase only properties that are foreclosing. A foreclosure happens when a property owner is no longer able to make payments on a mortgage. These people have likely been evicted from their home and, unable to rent the property, the owner is trying to sell it to recover at least some of their costs. Foreclosed properties tend to be in need of heavy repairs, but they are usually sold for a bigger profit.

4. Investment From Afar:

It is also possible to invest in real estate without buying any particular property. Many banks allow people to purchase trusts, bonds, or stocks oriented towards real estate specifically. You will be sure to want to talk to a broker before getting into this kind of real estate investing. It's always more risky to invest in a property that you've never seen before. If you're able to, it might be a good idea to visit the property before investing any kind of significant amount into it.

Real estate investors must develop a marketing strategy for their properties. Depending alone on the forecast that all property prices will always go up and never come down, it is not a safe idea, as there are times of slump in the markets. Real estate prices do come down occasionally, and real estate investors should not believe in blind faith.

About the author: Rod Khleif is Florida's Real Estate business man. Rod khleif has helped hundreds of homeowners escape foreclosure through their services. Rod khleif can help stop your foreclosure in 7 days, the services or programs that are provided by Rod khleif can create immediate cash for you and save your credit.

Christian Mortgage

Author: Martin Lukac

Christian Mortgage is a term used wherein Christian principles are used by the mortgaging company to mortgage loans to its customers. Many a times the mortgage offered by these companies are limited to only Christian customers.

It is imperative to know however what Christian principles for Christian mortgage are. The Christian principles for lending a mortgage have been same since the time Christianity has been founded. The principles of Christian Mortgage are as follows:

""In-debt According to the Christian principles, debt is not wrong because in Duet 28:12 God said, "" you will lend to many nations, but you will never need to borrow from them."" Thus, this principle defines that God would not allow anyone to be a lender. According to the Christian Mortgage, if the worth of your home is more than your mortgage, you can sell it anytime and get out of the bondage.

""Plan the entire future financial picture carefully Luke 14:28-31 ""King would ever dream of going to war without first sitting down with his counselors and discussing whether his army of ten thousand is strong enough to defeat the twenty thousand soldiers who are marching against him"" Thus, acquaint yourself with the current cost structure and estimates for all the cost that may arise. Christian Mortgage Advice: Do not opt for something that does not suit your budgetary plans.

""Less than you can afford The Christian principality underlines that man must not desire more than he can have, it is then termed as greed. Thus, the mortgage company functioning under Christianity principles will see that you obtain a Christian mortgage which is less than what you earn.

""Do not be blinded by Money Money, states the Christian principles should be used as a tool and not as a means of living. Christianity terms this as ""temptation"" and forbids good Christianity followers to be driven by temptation. Christian Mortgage belief that as mentioned in Timothy 6:10 ""For the love of money is at the root of all kinds of evil. And some people, craving money, have wandered from the faith and pierced themselves with many sorrows.""

""Be wise Be wise and generous in your dealings. Christian belief that what goes around comes around, too. You will be rewarded for your generosity. Christian Mortgage, follows the simple principle of : ""Blessed are those who are generous, because they feed the poor.""(Prov 22:9)

Thus, following the principles and structures of Christianity various Mortgage companies function, termed as Christian mortgage companies. Like other mortgage companies the, Christian Mortgage companies help you to draw conclusions which are sound. You can reach to a good conclusion through the well- informed information that the mortgage providers offer.

All the Christian Mortgage companies employ staff who are highly qualified and experienced and have a good knowledge of the market. The staffs are also very dedicated as they sincerely follow the principles of Christianity.

Christian Mortgage companies provide a complete a personal attention and do not let the customers feel left out or out of place. Thus, providing you the best that you can get.

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Christian debt consolidation financial marketplace. For more information please visit Christian Mortgage

Smart Home Buying

Author: Calum and Kathy MacKenzie

It's a sorry sight when you see so many homes being repossessed. Repo's and foreclosures and more prevalent than ever before as first-time home buyers are making some cardinal mistakes during the buying process that are leading to problems later on. One of the biggest mistakes people are making is not having their finances completely in order and arranged before buying a home. The buying of a home is an awesome responsibility both financial and otherwise and not being prepared for those responsibilities is one of the largest causes of repossessions and mortgage defaults.

Your credit is intricately tied into the purchase of a home. In fact, your credit will determine the amount that you will be able to afford to borrow on a home. Get in touch with your credit bureau and get a copy of your report. This will detail your credit history and allow you to discover anything that may be detrimental to your mortgage application. Outstanding credit issues can dramatically reduce the amount you are eligible to borrow, so it's a good idea to see to any of these things. Pay them out if necessary and get release letters from the debtors so that you can show them to a prospective lender if the paid debts have not yet been removed off your report.

The next logical step is to secure a pre-approval from a mortgage lender. This will take some careful shopping to find the loan that is right for you. There are so many different kinds of mortgage available it pays to take the time to investigate not only the loan but the lender itself. Make sure you are borrowing from a lender who has a good reputation and a good track record. This is critically important as there are many fly-by-night lenders who will take advantage of a borrower who does not do their homework. Make sure you ask about interest rates and whether or not they are fixed or variable. This can have a big impact on your monthly payments so make sure you ask about all aspects of the loan before signing it.

Finally you should be able to start looking for a home. Be careful in recognizing the difference between your needs and your wants in a home. Don't look for more home than you can handle. Be choosy when looking and if you find a suitable candidate make sure that you look it over a few times before making an offer.

About the author: Calum and Kathy MacKenzie are experienced and professional Tampa, Florida real estate agents who specialize in helping families relocate to the Tampa area. They've lived and worked in New Tampa for eleven years, and their extensive knowledge of New Tampa real estate can help mak

Know Your Credit Score

Author: David Hall

The average credit score is between 600 and 800. Your credit score is mathematical formula which is based on information in your credit report compared to other individuals. If your credit score number falls between excellent and good, this gives you the benefit of getting credit at a lower interest rate. Creditors uses credit score to predict how likely you are to pay your bills.

Individuals with bad credit may not be able to obtain credit conventionally. These individuals may have to apply for a pre-paid credit card to re-establish their credit over time. In this case the funds they are using belong to them and not the issuer of the pre-paid credit card. The credit limit is the amount of money they loaded to their pre-paid account. Prepaid Credit Card spending limit can only be made up to the balance in the account. There are no interest or finance charges on a prepaid card.

Prepaid credit card can be very beneficial since it gives you an opportunity to rebuild your credit history and being able to make purchases just as if you had regular credit card. Make sure that the company you obtained your pre-paid credit card reports the payment history to the three main credit bureaus.

Credit Bureaus Websites: Experian Equifax Trans Union

Credit Scores: Excellent credit score 750-850 Good credit score 660-749 Fair credit score 620-659 Poor credit score 350-619

It is important to know your credit score before applying for a credit card, car loan or a mortgage. This will give you a good idea how much interest the loan will cost you over time. Creditors look at your credit score in deciding whether or not to increase your credit limit or charge a higher interest rate.

Some reasons why your credit score isn't higher than it is:

Too many accounts with balances owed Poor payment history or past delinquency payments Owe too much debt on existing accounts Opened too many accounts in the last twelve months Past collection history How to improve and maintain good credit score:

Closing unnecessary accounts and consolidating your bills to make payments more manageable will help in increasing your credit score.

By not applying for too much credit within a short period of time is another factor that will help in maintaining a good credit rating.

Consistently paying your monthly payments on time will eventually re-establish your credit and subsequently will increase your credit score.

About the author: David Hall website is a credit card resource site where you can compare card offers and securely apply for credit card online: This article is free to publish in its entirety and must include all links: http://www.icreditonline.com.

Seven Benefits of Christian Mortgage

Author: Martin Lukac

The Christian Mortgage concept is built on the basis of Christian faith and principle. Various institutions around the world follow Christian Mortgage principles to shape their terms and conditions.

According to Catholic social teaching a mortgage is the provision under which people is permitted to utilize the merchandise of the globe. It signifies that no one is bestowed with the illogical right of private property while others in the world suffer from lack of it.

There are seven basic components that are found to be most attractive in choosing a Christian Mortgage.

Seven Benefits of Christian Mortgage: -

Benefits of Christian Mortgage #1 - Refinance to get a better rate: There are two types of mortgage loans in consideration of interest rates available - (a) Fixed Rate Mortgages (FRMs) and (b) Adjustable Rate Mortgages (ARMs). When you have cash down your credit at certain amount, it would be wise to opt for an ARM in exchange of a FRM. Christian Mortgage institutions often offer this opportunity to refinance. Moreover, Christian Mortgage institutions offer remarkably low rates in comparison to other institutions.

Benefits of Christian Mortgage #2 -Second Mortgages to consolidate debt or for other purposes: Christian Mortgage many times offers a second mortgage to a single person. By this way, one can get a second mortgage on a single property, after the first mortgage payment is cleared; or on the other hand, one can identify another property to mortgage when they are still paying a mortgage debt.

Benefits of Christian Mortgage #3 -Lower monthly payments: A very important benefit from a Christian Mortgage is its lower monthly payment. A monthly payment comprises of a basic payment with some interest rate. Christian Mortgages by providing you with a low interest rate cuts down your monthly payments and thereby your monthly expenses to a large extent.

Benefits of Christian Mortgage #4 -Cash Out Equity: Another benefit of Christian Mortgage is cash-out equity. When a person recognizes that the value of her/his asset has increased, or that the principal has been paid down to a particular amount, then she or he can re-borrow on that principal. The homeowner may ""cash out"" this equity in the home. By this way one can get some extra fund as cash. Christian Mortgage offers this Cash out Equity system to be used as extra cash for other beneficial purposes.

Benefits of Christian Mortgage #5 -Large tax Benefits: Christian Mortgages always fall under release of tax amount. As the basis of Christian Mortgages is social welfare and as Christian Mortgage offers genuine help to the needy people, governmental tax decreases upon this mortgage. Thus it offers a large tax benefit with it.

Benefits of Christian Mortgage #6 -Short Duration of Payment in few cases: Christian Mortgage in general offers short payment duration depending on the amount of debt. But considering the other types, Christian Mortgage institutions always aims to shape their offer personally either on shorter payment period, or shorter monthly payment amount.

Benefits of Christian Mortgage #7 - Private Mortgage Insurance: PMI is extra insurance that lenders require from most homebuyers who obtain loans that are more than 80 percent of their new home's value. But in Christian Mortgage, the PMI starts at lower cash down limit, considering the borrowers' financial status.

About the author: 1ChristianFinance.com provides Christian finance analysis and c hristian mortgage assistance with your home loan. For more information please visit #1 Christian Finance Seven Benefits of Christian Mortgage