Archive for September, 2007

Your Credit Score And A Low Interest Debt Consolidation Loan

Friday, September 14th, 2007


If you are wondering whether or not a low interest debt
consolidation loan is right for you, you likely have a number of
questions. In this regard, you may be wondering how and why
your credit score might effect your overall ability to obtain a
low interest debt consolidation loan.


Through this article, you are provided with an informational
overview of the role your credit score plays when it comes to
applying and qualifying for a low interest debt consolidation
loan. By considering this information, you will be in a better
position to determine whether or not it will be worth your while
to make application for a low interest debt consolidation loan
at this point in time.

How Your Credit Score Works

You credit score -- or FICO score as it is called from time to
time -- is computed based upon your credit history. In point of
fact, the specific manner in which your credit score is
determined is a proprietary secret of the Fair Issac and
Company, the entity that worked with the three major credit
reporting agencies to develop the credit or FICO score system in
the first instance.

It is generally appropriate to consider your credit score as
being something akin to a grade based on the manner in which
you've used credit and dealt with your debt in the past. Of
course, this is a simplistic explanation about how your credit
score works =85 but, it is also an accurate way of explaining the
way the credit or FICO score does work.

How Your Credit Score Will Impact Your Low Interest Debt
Consolidation Loan Eligibility

If you credit score dips too low, you no longer will be able to
obtain a low interest debt consolidation loan. In fact, your
credit score really does need to be in the good to excellent
range for you to have the ability to qualify for a low interest
debt consolidation loan. In other words, if you are interested
in consolidating your debt as part of an overall debt management
program or plan, you need to be proactive and actually seek out
a low interest debt consolidation loan before your financial
situation becomes out of line, negatively impacting your credit
score and rendering it unlikely that you will be able to obtain
a low interest debt consolidation loan.

Dealing with a Low Credit Score

If you do have a credit score that falls below that point at
which you would be more likely to be approved for a low interest
debt consolidation loan, you will want to forgo applying for a
low interest debt consolidation loan for the time being. You
will want to take steps to better your credit score in advance
of applying for a low interest debt consolidation loan. Steps
that you will want to consider taking include bringing all of
your credit accounts current and paying down -- at least to some
degree -- the balances on some of your credit accounts. You
will also want to make certain that there is no incorrect
information on your credit report that is negatively impacting
your credit score.

About The Author: Thomas Erikson is co-founder of which provides debt
consolidation information and solutions. Find out how you can
effectively get your finances under control with a Low Interest
Debt Consolidation Loan.

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Mobile Home Lenders, Financing And Mortgages

Friday, September 14th, 2007 featuring new and used mobile homes for
sale across America. Jeff Blackwell is also the Designated
Broker for a full service
real estate brokerage specializing in mobile homes for sale in

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Problem Remortgage

Friday, September 14th, 2007

Three Things To Remember When Shopping For An Auto Loan

Monday, September 3rd, 2007

Shopping for a car can be an exciting time as you consider the
many options of models, colors, and accessories. Seven out of 10
new cars are financed, however, so finding an auto loan will
most likely be an essential part of the process. If you prepare
yourself with the right information about auto loans, financing
the car won’t detract from your enjoyment of your new wheels.
When looking for a car loan, keep these things in mind:

Know your financial situation and credit report. Before you
even begin looking for cars, decide how much money you can
realistically spend on a car. It also can be a good idea to get
the loan first, so there are no problems when you have found
your desired car. Before going to the lender, it is important to
know what your credit report looks like. By obtaining a free
copy of your report, you can clear up mistakes and raise your
score so you can obtain a lower interest rate and improve your
chances of being approved.

Keep the big picture in mind. A small down payment now may not
be best in the long term. Because cars depreciate in value, it
can be easy to become upside down in your loan, which means you
owe more than the car is worth. Putting 20% down is a good
option to help avoid this. If you can’t scrape up enough cash,
then keep the term of the loan short. Becoming upside down is
also common when you roll old car debts into a new loan. When a
dealer offers to trade in your car no matter what you owe, be
aware that you will still be the one paying for it, but it will
be in your new loan. Remember to keep the value of the car in
mind when considering how long you will be paying for it.

Shop around. It may seem obvious, but don’t settle on the first
lender that gives you a quote. Car dealers, credit unions,
banks, and online lenders all provide auto loans, and it is
important to compare rates and offers of several lenders before
choosing one. Also ask the lender several questions about the
loan. Questions should include: What is the exact amount each
payment will be? How many total payments will there be? Is there
a prepayment penalty? Is credit insurance required? Is the deal
contingent upon a third party approval of financing? The last
question is particularly important if you are working with a
dealer for a loan. You don’t want to leave with the car, only to
find out two days later that you weren’t approved for the
interest rate quoted. Don’t leave until everything is a done

If you are prepared to ask the right questions, financing your
new car will be simpler, and you can enjoy the ride knowing you
have made sound financial decisions.

About The Author: Lauren Armstrong is an industry professional
and expert author at Shop for a
loan, compare rates, and get instant approval online with our
recommended lenders and services at

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How To Fix Up Your Home With A Home Equity Loan

Monday, September 3rd, 2007

Fixing up your home is one of the most worthwhile uses of the
equity in your home. Not only that, but it also adds comfort and
beauty to your home as well – making it even more enjoyable to
live there. Several ways exist for you to be able to get access
to that money that is in your equity. Here are some ways that
you can get that money and some things to watch out for along
the way.

A home equity loan is one that becomes a second mortgage. As
such, it has closing costs and other fees that apply to a
regular mortgage. This means, too that there is an approval
process and appraisal costs. It is like a regular loan in that
you get all the money in the loan in one lump sum and then start
making payments.

These loans are usually adjustable rate mortgages. This means
you have no set interest rate and it will change from month to
month – or from year to year. You can also get a home equity
loan with a fixed rate if you look around, which will give you a
much more stable payment, but will usually be higher than an
adjustable rate mortgage.

One great feature of a home equity loan is knowing how much
money you have to work with – you get it all at once. This does
require you to know in advance how much equity you want, or you
could simply take out as much as you can get. You will want to
leave at least 20% of your home’s value in equity and not borrow
against it. This is so that you do not have to pay Private
Mortgage Insurance. It will also leave you a margin of money in
case you ever should have to move. If you leave no equity at all
in your house, it may become next to impossible to sell it – and
you will be left with no money for a new downpayment.

You also need to know that, as a second mortgage, a home equity
loan gives you a new payment to make each month. For this reason
your lender will base the amount of the loan on both your
ability to pay and your credit rating, along with your total

The amount of time that you have to pay a home equity loan is
less than it would be with a first mortgage. Often for as much
as 15 years, these loans can be adjusted to the time frame you
want – even up to 30 years if you want to keep your payments
low. However, you should also remember that the longer you pay –
the more you will pay in interest.

When you go to get your home equity loan, be sure that you shop
around and get the best deal you can. Besides looking at the
interest rate, you will also want to notice the fees, closing
costs, and other fees that will apply. Lenders can vary greatly
in their terms and fees, so you should look them over carefully
to find the deal that best matches your needs.

About The Author: Joe Kenny writes for,
visit today for some home equity loan offers here,

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Poor Credit Home Mortgage Loans – Getting Approved With No Down Payment

Sunday, September 2nd, 2007

When applying for a new mortgage with poor credit, you may be
wondering whether or not you can get approved with zero down.
There are a few factors that will influence this. Consider these

1. Poor Credit Will Put More Weight On Your Employment History
& Salary – When you are putting less money down and have credit
problems, this will cause the lender to look more heavily at the
stability of your employment history and income. If your
debt-to-income ratio is low and you have been at your job for
more than one year, this will help you toward getting 100%

2. Lenders Will Look Closely at Your Most Recent Payment
History – Many people have had financial difficulties in your
past, but one of the most telling things for a lender, is what
your most recent payment history has been like. If you have a
bankruptcy that is more than a few years old, but over the last
few years have made regular, on-time payments on all of your
existing bills, you are more likely to get approved for 100%

3. Consider Having The Home Seller Pay The Closing Costs – If,
with poor credit, you are able to get 100% financing, it will
probably be quite a stretch to have the lender also wrap the
loan closing costs up in the mortgage loan as well. When you
make your offer on your new home, consider including in your
offer that the seller pay all of the loan closing costs. This is
a common practice, and it is highly likely that the seller will

Try pulling a copy of your own credit report to see how bad
your credit really is. Make sure you have disputed all
inaccuracies on your credit report before you allow a mortgage
lender to pull your credit. If possible, pay down as many high
balance revolving credit accounts as possible. This can help
increase your credit score significantly.

About The Author:

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Loans For Home Improvement

Sunday, September 2nd, 2007

To owner a home is one thing but to maintain it tip- top and
with all the latest additional fixtures, and well done, with
Italian marble tiles and ceiling re- touches. Human nature is
such that a man’s wants and priorities change with times. Those
who have marble tile floorings change to wooden planks flooring
and vice versa. In a way, this is what keeps the construction
business growing. Home improvement loan is there to serve you
with a cash loan under any circumstances. You can apply for a
loan and obtain the amount that you require to make your home
improvement plans possible.

Once you have all your background homework done with all the
minor and major changes in your home, contact a reliable
contractor. It is generally advisable to do all the changes at
one time. Don’t plan the bathrooms to be done two years later or
the kitchen three years later. Include all the home repairs,
renovations and painting the walls too. Now that you have your
estimate quote and a rough idea at how and where the expenses
are going to be allocated to, always add a small percentage
extra, because in these cases one always goes overboard. You can
depend on home improvement loan to cooperate with you.

It goes without saying that all the added changes and the
renovations are of course going to add more value to your
present home. Not only that, you are going to enjoy you new home
with great comfort. All this will be made possible if you apply
for a home improvement loan.

Compare a few financial lenders because the field is very
competitive. Find one who is of high repute and has been in the
business for quite some. Ask him for all the pros and cons and
other queries that you may have, about the home improvement
loan. Double cheek if this loan has any tax rebate. Some of the
major benefits of the home improvement loan are:

1. A very low interest rate,
2. Options to choose your length of time frame,
3. An easy comfortable monthly payment, which is suitable to
your income,
4. A no quote fee and
5. Check for any special rebates or advances.

Definitely it goes without saying that surely a good credit is
much more advantages for you and helps in getting a good sum of
loan. Your will have a more broad view and a better perspective
of the home improvement loan, if you just take a few minutes
from your daily routine and go on the web. Learn all about the

After you have filled in the application form for the home
improvement loan, your lender will need some extremely basic
information about you, such as:

1. Residential address and telephone numbers,
2. Listed or unlisted mobile cell numbers,
3. Self employed or not,
4. Company name where you work, address and telephone monthly
5. Any other source of income
6. The amount of loan you want and
7. Your bank account number.

You will be amazed at how quickly the loan for your home
improvement will be approved because unbelievably the money will
be in you account in just a very short time. You are very much
secured with this loan. At the and of the day you will have a
beautiful home, now worth much more that you originally bought
it for. You have improved your style of living comfortably and
you and your family are enjoying the new luxuries in your home.
A word of caution: Remember not to default on any of your
payments. For further information on home improvement loan visit

About The Author: Looking for the right home improvement loan?
Jeff Saunders, an expert in home improvement, suggests you visit today!

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Sunday, September 2nd, 2007

Finding a “no money down” mortgage loan is actually easier for
someone with poor credit. Subprime lenders are more willing sign
off on these deals than conventional lenders. But before you
jump into a mortgage contract, make sure you understand the
terms and are getting a good deal.

Benefits Of A “No Money Down” Mortgage

A “no money down” mortgage allows you to buy a home with little
to no money due at closing. In essence, you are trading a rent
payment for a mortgage payment, which makes the jump easier.
However, you will pay a higher interest rate for these terms.

By not paying closing costs, it makes getting out of a home
much more cost efficient. For example, say you pay $6,000 at
closing for your traditional mortgage. In a year, you have to
move for a number of reasons. You are out that money, even with
a lower interest rate. With a “no money down” loan, you wouldn’t
worry about that losing that money.

What “No Money Down” Means

“No money down” can mean two different things when it comes to
mortgages. With some lenders, “no money down” means that no down
payment is required, but closing costs are. Usually closing
costs will equal 3% to 6% of the loan amount, which equals a
couple of thousand.

Other lenders describe home loans where no money, not closing
costs or down payments, is required. Instead, closing costs are
included into the principal amount, usually up to 2% of the
loan’s value.

Locating “No Money Down” Lenders

With adverse credit, you will want to shop around for a
subprime lender. Online you can find hundreds of financing
companies, many with competitive financing rates. If you don’t
know where to start, check out a mortgage broker site. They
connect to several lenders and can get you mortgage quotes in
minutes. Then expand your search as you come across lenders.

When you request a loan quote, be sure to select the “no money
down” term. This may mean checking a box or selecting a specific
loan term. Just be certain you know what “no money down” means
with each lender before making a decision about a financing

About The Author: View our recommended lenders for Poor Credit
Mortgage Loans

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The Personal Loan

Sunday, September 2nd, 2007

In today’s day and age, with the media bombarding all sorts of
must have lifestyles, luxury products, the consumers’ desires
and wants are at an all time high. To fulfill all of these
requires lots of money. Our income and sources of income are
limited, our desires are not. Today with Personal loan as the
financial solution, it is very possible to comfortably live the
lifestyle we want.

It is wiser to plan your expenditure and budget before you
apply for your personal loan. When you are purchasing a loan
product, make a small detailed study about how loans benefit and
which schemes are most suited to you. Compare similar loan
products from different lenders before you finalize on the best
loan deal for you. Let us go to the core basics =96 What is a loan
and why would you need one?

When you are in need of immediate money, it is not always
possible to run to friends and family for help. The income you
generate brings in a limited amount of funds. Yet for the bigger
stuff, you need large amounts of money at as single time. For
example: If you wish to buy a home, you would need to make a
huge amount of payment for which it would take you years and
years to save. Financial issues are personal. Loan is borrowing
a sum of money that you promise to return. Banks, financial
lenders, brokers, financial solutions companies =96 all of these
have different loan packages to offer. When you take a loan on
your individual name, it is called a personal loan.

Personal loans are offered by almost all lenders as it is the
most basic and popular type of loan. Personal loans fall into
two main categories =96 Unsecured personal loan and secured
personal loan. Let us take a closer look at each of these
individually =96

Unsecured personal loan: This is the most simple and
non-complicated type of borrowing. You apply for the amount you
need. On approval you get the immediate loan amount. You agree
with the lender to pay back the loan within a certain period of
time with the interest amount.

Secured personal loan: This is a little more detailed in its
structure, but has many more benefits too. You apply for the
loan amount you require and keep with the lender a security such
as your house, shop, land, car or similar valuable asset. The
asset is evaluated and in proportion to the value you are given
the funds. Secured loans usually are lenders favorites as it
offers a low risk to the lender. Therefore, you can negotiate
for lower interest rates.

In a secured personal loan, you can choose the interest type
you want =96 a fixed or variable rate of interest. A fixed
interest rate will remain so till the end of the loan tenure.
Thus, you are assured of your repayment through out the years
remaining the same.

Whereas, if your personal loan attracts a variable interest
rate, then the repayment amount too fluctuates with the rate. Of
the interest rate augments, then so does your loan repayment.
But, on the other hand, if the interest rate drops, then the
repayment amount you are paying is less. So you benefit by a
variable interest rate on your personal loan.

Do bear in mind that repayments on personal loan should be
comfortable for you to pay from your present income. On
completion of all your repayments, the collateral with your
lender is released. Regular and timely repayments on your
personal loan can better your credit rating. Personal loans of
varied kinds are available at

About The Author: Orion Pax knows all about the important of
personal loans, and the best place to get the personal loan you
need. Visit today to get the
personal loan that’s right for you, your needs and make your
dreams come true today!

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Home Mortgage Refinance: Sub Prime Market Trends

Sunday, September 2nd, 2007

It’s been said time and again that the home mortgage refinance
market has reached saturation point. The refinance bubble seems
to be near bursting. Rising delinquencies, bankruptcies and
foreclosures are making home mortgage refinance a less lucrative
than before. Are you part of the sub-prime home mortgage
refinance scenario? Then it’s time to take a good hard look at
current trends.

Rising real estate costs

The real estate market has seen a steep rise in the price of
houses – with the result that the average home buyer cannot
afford to spend such a high sum on owning a new home. Even those
persons who are making monthly payments towards the home
mortgage refinance are finding it increasingly difficult to cope
with rising prices. Interest rates have shot up, further tipping
the scales against the homeowner’s favor.

Why the sudden rise?

There are many reasons why interest rates and associated real
estate expenses have escalated. For starters, the sub prime
market borrowers typically comprise those who have already been
rejected as per other more stringent eligibility criteria in the
prime market. This means the sub prime home mortgage refinance
lenders offer them loans at relatively easier criteria =96 some of
them may even imply lesser documentation and background checks
on the borrower. Even those borrowers who have a relatively
lower credit score maybe approved under the sub prime market
home mortgage refinance lending process.

The real estate segment is hurting

Delinquencies and default patterns are at an all time high.
Foreclosure and Real Estate Owned is a common phenomenon these
days in the home mortgage refinance scenario. Why this is
happening can be predominantly attributed to the re-adjustment
in rates. Usually the sub prime home mortgage refinance lenders
attract borrowers with a low promotional rate. When this rate
shoots up after the promotional stage, it’s a nightmarish
situation for borrowers and lenders. The borrower finds it
impossible to pay up and the lender finds it virtually
impossible to recover the money. This is also known as predatory
lending =96 it’s quite similar to hunting for a prey by luring
with attractive rates of interest. Once the unsuspecting
customer has been caught in the web, there’s no escape and the
home mortgage refinance lender extract every possible penny from
the borrower. What this means from a long term perspective is
that investors lose trust in the home mortgage refinance lending
company. This can affect the prime market and potentially
qualifying borrowers may not qualify in the prime market. This
way home sales deteriorate and real estate suffers.

Growing competition

With the recent decline in home sales, most home mortgage
refinance lenders are skeptical on future profit margins. They
prefer to be less optimistic about the future trends in the sub
prime market. However this has not stopped lenders from fiercely
competing with each other. In fact, competition has now
escalated because in the dwindling home mortgage refinance
market, every lender wants to make a quick buck or two.

About The Author: For complete and holistic information on this
topic, consult the experts at Home Mortgage Refinance Rate There’s no better
place to find out what you need to do. A simple click will get
you ready answers! Do it now.

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