Selling Your Home – What Can Go Wrong With Pricing and Loans

So, you’re selling your home (house, townhouse, condo, apartment, land, lot, farm, ranch, etc.), what can go wrong? The sad fact is that a lot of things can go wrong. However, don’t despair, there are almost as many solutions as problems. In this article, we look at problems related to pricing and a buyer’s inability to get a loan.
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So, you’re selling your home (house, townhouse, condo, apartment, land, lot, farm, ranch, etc.), what can go wrong? The sad fact is that a lot of things can go wrong. However, don’t despair, there are almost as many solutions as problems. In this article, we look at problems related to pricing and a buyer’s inability to get a loan.

Price Negotiation

A problem that shows up all too frequently during contract negotiations is that the seller has left no room to negotiate the price. If the seller shows no flexibility, they are apt to chase buyers away. Mad.

The solution is simple and obvious, price your property a little higher than you feel you have to get. It needs to be a reasonable market price for your home, but you can start at the top of the market. Then, if your buyer wants to negotiate price, you have built in wiggle room.

Price isn’t the only thing that matters to buyers. Settlement and move in times are important, too. This is especially true if the move involves a new employment situation, a new school district, etc. If you can be flexible on those points, that can tip the choice to your property over a competing home.

Another sticky wicket during contract negotiations is encountered when buyers ask sellers to pay all, or some, of the buyers’ closing costs. Often, sellers’ knee jerk reaction is, “Why should I pay his closing costs? Mine have never been paid by the seller.”

Whoa! Don’t worry about what the buyer is getting out of it. Look at what you’re getting. Is your bottom line what you want it to be? Close to it? Maybe you should consider paying all, or most, of what the buyer requested.

No matter what the proposal is during contract negotiations, don’t freeze into a negative position. Think big picture. Think bottom line. Your bottom line.

The Buyer Can’t Perform

Everything was going along swimingly and then you get a call. The buyer can’t qualify for a loan to buy your home.

Check to be sure the buyer has approached a lender who will make loans to people with less than perfect credit. If that doesn’t work, write it off as a mistake. The next time someone wants to write a contract offer, make sure they have a letter from the lender saying they’re qualified to buy your house.

The key to selling your home is to stay calm. There will be hiccups and bumps, but don’t let them overwhelm you. Typically, the buyer really wants the property. Work with them and a solution can usually be found.

Deciding Which Reward Credit Card is Right for You

This article describes how consumers can analyze and decide on which reward credit card is right for them.
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When sorting through the large number of reward credit cards that are available, it can sometimes seem overwhelming. Deciding which one is the best for you can seem like a difficult task, but it does not need to be. By taking a look at your own spending habits, lifestyle, and the benefits each card has to offer, you shouldn’t have too difficult of a time determining the best reward credit cards available.

Assessing Your Spending Habits

Your spending habits have a great deal to do with determining which reward credit card is best for you. For example, if you typically spend a great deal of money each year on a credit card, you will receive a greater return. If, on the other hand, you rarely use a credit card, you probably won’t get much out of the card. Similarly, many reward credit cards have an expiration date on the points you earn with them, which are then traded in for the rewards. If you do not spend enough on your card within that timeframe, you won’t get anything from the card. Therefore, you need to consider expiration dates and the points trade off when picking a reward credit card.

Similarly, you need to determine whether or not you will be able to pay the card off in full at the end of each billing cycle. Really, reward credit cards are best suited for individuals that can pay the balance each month. This is because reward credit cards tend to have a higher interest rate than traditional credit cards. A higher interest rate equals larger finance charges if you do not pay your bill every month. If you still have a strong desire to have a reward credit card even though you do not pay your bill in full each month, make sure to select a card with a very low interest rate. Otherwise, you will pay more in finance charges every year than you make in return.

Looking at Your Lifestyle

Your lifestyle also has a lot to do with choosing the best reward credit card. Since the majority of reward credit cards provide bonus points on certain types of purchases, you should select a card that rewards you for the purchases you regularly make already. Similarly, you should make sure the rewards of the credit card are ones that you are interested in. After all, it won’t matter if the rewards points are easy to accumulate if you have no use for the rewards! At the same time, it doesn’t matter if the rewards are fantastic if you cannot easily accumulate points.

Remember, there are several different types of reward credit cards. Some offer cash back rewards, some can be used to earn airline miles, while others can be used for a variety of specialized rewards such as gift certificates, stereo equipment, clothing, vacations, and even cars. Therefore, make sure to research your options to find the type of reward credit card that will provide you with the most useful rewards for you.

Reward Credit Card Benefits

Nearly all credit cards have benefits, the same is true of reward credit cards. In addition to the rewards programs they offer, they may also have benefits such as purchase protection, extended warranty coverage, travel insurance, auto rental insurance, and lost luggage insurance. After narrowing down your choices in accordance to your spending habits and lifestyle, make you final decision based on the extra perks offered by the card. Again, select those that are best suited to your needs and that you are most likely to be able to get use from.

Great Starting Ideas For the New Real Estate Investor

In his interview with me, John Paul Moses, who is the founder of our Local Memphis Investors Group, was willing to give us some tips about how to start as a real estate investor. After reading “Rich Dad, Poor Dead” by Robert Kiyosaki he decided to start as a real estate investor.
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In his interview with me, John Paul Moses, who is the founder of our Local Memphis Investors Group, was willing to give us some tips about how to start as a real estate investor. After reading “Rich Dad, Poor Dead” by Robert Kiyosaki he decided to start as a real estate investor. The book says to do this you need some preparation, so he went to the Internet and stocked every bit of information from the articles, news groups and discussion forums. By that time he started a long term friendship with Matt Scott who runs a great website called dealmakerscafe.com. That’s how he learned the meaning of the word “escrow” and what the difference was between a mortgage and a trust and real estate basic terminology. The Internet might be one learning ground. If you buy a real estate course you have to be very careful. The first course John Paul bought was in his opinion the worst real estate course and never did a deal from knowledge gained in that course. But at least he learned real estate terminology and spending $400 on that course proved to him that he was willing to invest in his education.

John Paul started by making an announcement in a Sunday paper just saying “real estate investors group starting, for information give me a call” and he put a cell phone number there for people to contact him. At their first meeting they were about 16 people. He stood in front of those people telling them that he never done a real estate deal but he was there to learn and make sure that they had those meetings. They needed a leader and he took the initiative of being their 1st president. Since then the organization grew to over 500 members. Now they are a full fledged non profit real estate investors association with over 150 members in the Memphis area and since 2002 John Paul has been a real estate investing guy. He stepped down as the president and he is now serving as the executive director of the group. Most of the deals he has done in some way involve somebody from the real estate investors association, whether they were a buyer or a seller, money partner or whatever the case might be. Start working with people in your club because they are real people. You need to think who the buyers are if they have real cash or if they have access to the hard money. So, what you have to do is to pick only those motivated persons and build yourself a great network of successful people to work with and the investor groups are great places to find those people.

His advice for somebody who’s looking for the structure of an investment group in another city is that you need to join the national real estate investment association; you need to get small groups of people together and join the National REIA (www.nationalreia.com ). They serve as an umbrella organization that supports the local REIA group. Another benefit of these groups is the availability of hard money lenders or private lenders within the group itself. You need to know what your resources are and just capitalize the costs or hard or private money in that part of the deal. For example they visited the National Group and invited some of their board members to have dinner together. That’s the second thing John Paul recommends for everybody who wants to start a group: model yourself, don’t try to figure out on your own!

Another thing a person should do is get those magnetic We Buy Houses signs for their vehicle. For John Paul they were worth the $87 investment as they brought him $12,000 profit from transactions altogether on wholesale deals. Nobody should be embarrassed of using them on their cars because the one who’s embarrassed is letting money pass by.

John Paul’s piece of advice for the new real estate investor is to not to be afraid to act, do not let yourself become paralyzed by fear and over-analysis. You need to take some time so don’t panic. Give yourself six months and just consume information. A good way is to listen to tele-seminars or find information on the Internet or pick some books from the library.

Mortgage Leads, Jump Start Your Activity

As loan officers and mortgage brokers there are many avenues to go down in order to obtain mortgage leads for potential loan customers.
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As loan officers and mortgage brokers there are many avenues to go down in order to obtain mortgage leads for potential loan customers.

Activity is the key to obtaining leads in any sales industry. Sitting idle will get you no where except hungry and out of a job.

For instance, if you have a one o’clock appointment with a customer, don’t spend your day waiting around to leave for the appointment, build appointments in and around the vicinity of your one o’clock appointment.

This can be accomplished in the following way. Cold calling.

The day before your appointment, spend a couple of hours making some calls to potential customers in the neighborhood of your appointment.

Let them know that you will be in the area and you would like to stop by to introduce yourself and drop off some brochures. Keep it short and sweet.

In the mortgage industry your activities consist of many things to obtain leads. Such as chambers, rotaries, customer referrals, family, friends, community involvement, etc.

That being said, it is always nice to have a back up plan for slow times such as summer months and the holiday season.

This is where mortgage lead companies come in.

But just don’t go and invest with any old lead company, you want to make sure you get your money’s worth, so do your research.

Check out the mortgage lead company’s web site and speak with someone in their customer service department. Find out how they obtain their leads and what the quality of their leads is.

If the mortgage lead company is not obtaining their leads from web sites they own and operate on their own, than most likely they are recycling old leads and will be selling you old junk.

Remember, if you are not happy with the information you gather on their web site or through their customer service department, chances are you won’t be happy with the leads either.

Lakeycia Jefferson on Eliminating Debt with Wealth Masters

American families are suffering unprecedented financial hardships and the trend doesn’t seem to be stopping anytime soon.
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American families are suffering unprecedented financial hardships and the trend doesn’t seem to be stopping anytime soon. Many homeowners are being forced into foreclosure due to the collapse of the subprime mortgage market and it’s having a ripple effect on other borrowers, who also now find themselves in dire straits or in bankruptcy court. “Although people desperately want to gain control of their finances and build wealth, there has been an overwhelming trend in the opposite direction,” says Lakeycia Jefferson, a consultant with Wealth Masters International (www.wmitoday.com/wealthtransfer).

The numbers bear out Jefferson’s assertions. According to the U.S. Federal Reserve Board, 58 percent of families with credit cards have an average outstanding balance of $5,100. Between 2001 and 2004 (the last year for which statistics are available), household debt increased a whopping 26.3 percent. During the same time period, the median income fell almost a full percentage point, to $37,800. Furthermore, nine percent of families surveyed by the Fed reported that they had been at least 60 days late with a payment in the previous year. “Unless and until Americans adopt the practices of the wealthy, they will continue to spend more money than they earn, and have nothing to show for a lifetime of hard work,” says Jefferson.

Prior to becoming a consultant with Wealth Masters International, Jefferson was a network marketer who experienced firsthand the limitations of a traditional mindset. “I never went beyond my inner circle of family, friends, and acquaintances,” she says. “I simply didn’t have access to a marketing system that would enable me to reach the numbers of people necessary to truly create wealth.” Regardless of how hard she worked, Jefferson was never able to generate the massive downline necessary to succeed with traditional network marketing paradigms – which is one of the reasons that she switched to Carbon Copy Pro (www.wealthtransfernow.com).

Moreover, she witnessed the mistakes of those who did experience success. “Oftentimes, people who made a considerable amount of money would simply blow through it, because the companies they were affiliated with didn’t offer direction and guidance to help them achieve their long-term goals,” Jefferson says.

In contrast, she has found Wealth Masters International’s commitment to personal and financial growth a refreshing change. “The company offers a free analysis of a member’s credit situation and helps them get on track to pay down their personal debt and step on the road to financial freedom,” Jefferson says. “The company has alliances with experts in everything from credit repair and financial goal-setting to investments and wealth accumulation strategies.”

Jefferson notes that the company’s “Six Steps to Freedom” resources have not only assisted her in her consultancy, but have helped her develop skills that she routinely uses in her other business ventures. The six steps involve analyzing your personal finances, minimizing your tax obligations, creating a savings fund, ensuring that you are legally protected, building a legacy through wealth creation, and creating a lifestyle that achieves your personal goals. “Wealth Masters International has enabled me to create a life where I can achieve my income potential and spend more time with my family. But the most rewarding part is being able to help other people stop the downward spiral and not only live, but also thrive,” Jefferson concludes. Considering the state of our nation’s collective financial trouble, that’s refreshing news indeed.

0% APR Credit Cards: How Can They Do That?

During the days when the federal bank interest rates were at its lowest, back in 2002 and 2003 to be specific, countless credit card providers offered 0% APR credit cards to many consumers. Needing only to pay the outstanding balance, smart consumers were able to charge up to their limits without incurring monthly interest charges. The question that some people were asking when these cards were at their peak of popularity was this: how do credit card providers make money off …
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During the days when the federal bank interest rates were at its lowest, back in 2002 and 2003 to be specific, countless credit card providers offered 0% APR credit cards to many consumers. Needing only to pay the outstanding balance, smart consumers were able to charge up to their limits without incurring monthly interest charges. The question that some people were asking when these cards were at their peak of popularity was this: how do credit card providers make money off of this type of plan? Well, good question! Let’s examine 0% APR credit cards and the way they really work and if they are still available to you today. You just might be surprised at the answers!

Annual Fees. Depending on the credit card provider, some card holders have been charged an annual fee for the privilege of having a 0% APR credit card. Annual fees for some of these cards generally run from $15 to $20, even higher.

Late Fees. You would think that if customers had a 0% APR credit card that they would always pay them on time, right? Well, many do not. So, every time a payment is received late credit card providers would assess a late fee. With fees ranging from $19 to $39, that can add up especially if someone is habitually late.

Default Rate. Oh, that 0% rate is nice on the surface. Read the “member’s agreement” and you will quickly learn that late payments will not only incur a fee, but a “default rate” would be charged bumping up the annual percentage rate to double digit figures on existing balances as well as on new charges! If you are late you can say, “bye, bye” to your 0% APR credit card in no time.

Short Term Offer. 0% APR credit cards are still offered today. Almost always they are cards for new card holders that offer a 0% rate for a limited period of time, such as twelve months, before a higher rate kicks in, which usually is around 12%. Some cards will allow you to transfer existing credit card balances over to the new card and receive the 0% rate on transferred balances. What a great way to cut your costs and save money too!

Don’t worry about credit card providers having difficulty making money even with low or 0% APR credit cards. Rates have since increased, in some cases dramatically, making it more difficult to find a low interest rate credit card. Still, great offers exist, but you must know where to find them. Searching online for your 0% APR credit card is a great way to quickly find and compare the best 0% APR offers available.

Copyright 2006 Ed Vegliante.

Learn What Credit Insurance Can Do For You

Almost every time you make major or smaller purchases you apply for some type of credit. No matter if you are buying a house or a car, or you just go and buy some appliances or electronics for your home you’ll use some type of credit. And more or less every time you use a form of loan there are big chances that you’ll be asked to also buy some form of insurance for your credit. Before proceeding with buying any kind of insurance you should know what you’re paying for. Credit …
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Almost every time you make major or smaller purchases you apply for some type of credit. No matter if you are buying a house or a car, or you just go and buy some appliances or electronics for your home you’ll use some type of credit. And more or less every time you use a form of loan there are big chances that you’ll be asked to also buy some form of insurance for your credit. Before proceeding with buying any kind of insurance you should know what you’re paying for. Credit insurance is a type of insurance made on a debtor in favor of a lender and it is intended to pay off a loan or the remaining balance if the insured dies or is unable to make any more payments. The insurance for credits comes in various forms; the typical form includes credit life, credit property insurance, credit disability and involuntary unemployment. Usually all these coverages come all together with the same credit insurance. Some of them will have a value for you and some may not have. You can opt for which one of them you want to pay with one small exception: credit disability and life coverage cannot be sold separately.

Credit life coverage is actually a type of life insurance that pays off the loan or the remaining balance in case you die. The payment of the life credit insurance on this type of insurance for the credit always goes to the lender as he is the beneficiary of your policy. The credit disability insurance is the type of insurance that makes your monthly credit payments during a certain fixed period of documented medical disability. While this type of insurance can help you keep a good credit report and history, it will not make the monthly payment forever and will not, for sure, pay off all your balance. In such situations it is best to try to get back on your feet and pay by yourself the loan because, as the time passes, interest and insurance charges continue to add up to your already existing balance and you’ll end up paying more than your original credit.

The other two types of credit insurance are: involuntary unemployment insurance and credit property insurance. The involuntary unemployment insurance is very much similar to the disability insurance: the insurance makes the monthly minimum payments for a certain period of time while you are involuntary unemployed. Like we said before is better to not let this situation go on for a long period of time. The credit property insurance is different than all the other insurances in the way that it cancels the debt you owe for the items purchased if the property purchased is destroyed by certain specified risks like: fire, flood, accident, earthquake, etc.

No matter for which one of the above credit insurance you opt, it is most important to read and know the full details of the coverage. This way you’ll be able to know which one of them best suites your needs and select that particular one or maybe a combination of two or more of them. Also, you should consider your financial status before purchasing insurance for the credit. Or maybe you’re considering making several purchases from different places and each one of them asks for insurance. But this cannot be so cost effective. If you have more accounts and intend to insure all off them maybe you should think of buying a traditional insurance; an insurance agent or broker can be of big help in such a situation. He will help you make the necessary comparisons and finally with choosing the right insurance type for you.

Last but not least you have to make sure you qualify for the credit insurance you’re going to buy. These types of insurances are sold without any screening to anyone that makes a purchase on credit. Often, many people do not qualify for the insurance they are buying but the company that is selling you the insurance will not bother asking you if you think you qualify or not. So, it is you, the borrower and the buyer of the insures, that has to carefully read and understand how the insurance works and be fully aware of any special claim procedures or limitation clauses included into the insurance. It is only your responsibility.

Is A Payday Loan Your Best Credit Option?

Many people overspend from time to time or need a bit of extra cash to cover an unforeseen expense. There are a number of options for covering this type of financial emergency. The one that is right for you will depend on how much you need to borrow and your own financial circumstances. Here are some of the options.

Payday Loans

Payday loans are loans where borrowers get a small amount of money, usually less than Ј1,000. They have to pay this back by the next pay period…
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Many people overspend from time to time or need a bit of extra cash to cover an unforeseen expense. There are a number of options for covering this type of financial emergency. The one that is right for you will depend on how much you need to borrow and your own financial circumstances. Here are some of the options.

Payday Loans

Payday loans are loans where borrowers get a small amount of money, usually less than Ј1,000. They have to pay this back by the next pay period. The lender charges a fee that equates to a high annual percentage rate. However, this can be a good option for a short term difficulty. Payday loans are quick and easy to obtain, even for people with a bad credit rating.

Secured Loans

Another option for people with a poor credit history is a secured loan. This is where people borrow a sum of money against the equity in their house. This is suitable for homeowners with a poor credit history who need a large amount of money. This might be a good option for someone who suddenly had to fund a wedding, for example. People can borrow up to 125% of the value of the equity in their house and repayment periods can be up to 30 years.

Unsecured Loans

Unsecured loans are normal loans from a bank or loan company. To qualify for these loans, of up to Ј25,000, people usually have to have a good credit rating. Repayment tends to take place over periods of up to 10 years. These loans can be difficult to get.

Credit Card Cheque

Many credit card companies allow customers to use their credit cards to withdraw cash by using special cheques. These can be useful for situations where credit cards are not acceptable. When paying for a new car, for example, using a credit card might increase the payment because of the fee charged by the seller.

People should be aware that some credit card cheques are charged at a higher rate of interest than regular spending on the credit card. If yours is one of these, it may not be the best option for getting short term credit. Remember to read the fine print and check the annual percentage rate.

Authorised Overdraft

This can be a cheap option for overcoming short term financial difficulty. If you are earning regularly and have a good relationship with your bank, you may be able to negotiate an overdraft. This will often be at a reasonable interest rate and will be repaid automatically the minute your salary goes in. Remember to stay within the limit, though, or you could find yourself paying huge bank charges.

Whichever option you decide on, it is essential to make repayments on time and in full. This will help keep your credit history in good shape and will make it easy for you to get more credit if you need it.

Bad Debt Loans- Old Days Are Gone Now

Loans for bad debt are introduced to help out bad credit holders when they do not left with any other option. A credit rating less than 620 assigns you bad credit tag. These loans are available in secured and unsecured package. Rate of interest rate will depend upon the scheme you are applying for. Every bank in UK is now offering these loans. Online lenders are also ready to provide bad credit financing.
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There was a time when lenders use to see bad credit holders as potentially risky customers to lend money to. But with the increasing number of people having poor credit, lenders started seeing a huge potential of market in there and came up with financing plans especially for adverse credit holders.

A person can get bad credit tag due to defaults in previous debts, arrears, declaration of bankruptcy, CCJ etc. it means that credit rating of that person is below 620 which is not seen as a good one in loan market. But loans for bad debthave totally reversed the situation enabling bad credit holders also to secure cash when they need it.

Use of loaned amount
These loans can be taken in any form – bad credit home loan, bad credit car loan or bad credit personal loan etc. and use of the money depends on the which scheme you have applied for. But you have a certain degree of freedom to use the money wherever you want.

The types:
These loans can be secured in secured or unsecured forms. In case of secured ones collateral has to be placed against the money and it will help to negotiate with the lender to certain degree. But with unsecured bad debt loans there is no need of any security.
These loans can be applied for either long term or short term scheme. In case of the first one, money can be repaid within 10 to 25 years and rate of interest rate will be less. But with short term repayment term will be 3 to 5 years and interest rate will be high. Being, regular in repayment will help you to improve your credit score.

Any amount in the range of Ј10000 to Ј25000 can be secured. Interest rate will vary from lender to lender. These loans are available in banks, private loan lending agencies or from online lenders also.

The Great Things About Reward Credit Cards

How the reward system works is quite simple. Each time you use your credit card, you earn a reward or bonus point.
credit cards
It has always been practical for people never to bring a huge amount of cash with them when they’re going out and they’re not completely sure that it will be a safe journey all the way. And that’s why such items as checks, ATM cards and of course, credit cards, were created. If and when you have the misfortune to lose any of them, all you have to do is call your bank, inform them of what happened and that’s it! Your money is still safe and sound.

Also, because there are just so many wonderful things that one can buy in the most unexpected places and it would be nice to feel that wherever you go, you’ve got the full value of your bank balance with you. If it’s in cash, that would be terribly impractical. But if it comes in the form of a credit card, well, then, now you’re talking!

There are a lot of advantages one can experience when having a credit card of your own but this time, we’ll only concentrate on one particular kind of credit card: the reward type. What are the great things that one can experience with a reward credit card? Is there a bad side to owning a reward credit card? These questions shall be hopefully answered successfully in the succeeding paragraphs.

The Great Things about Reward Credit Cards:
How the reward system works is quite simple. Each time you use your credit card, you earn a reward or bonus point. The higher the purchase value of the item you bought using your credit card, the more reward or bonus points you receive. Simple, isn’t it?

Now, these reward or bonus points – the term used for this depends on your credit card company but its meaning is basically the same – may have an equivalent value in cash or, when accumulated, can be used to win free stuff for you.

For example, a free Gucci bag, according to the rules of the reward system of your credit card, is equivalent to one thousand bonus points. Each reward point, on the other hand, has an equivalent value of $10. That means, for every $10 you consume in your credit card spending limit, you earn one bonus point.

There’s more. Because credit card companies profit from your credit card usage, you’ll notice that each year, the list of items available in exchange of reward points is getting longer, better and more varied. In fact, the sky’s the limit to what you can gain for free just by using your reward credit card!

So what are you waiting for? Grab an application form and you just might be in time for the spring sale!