Archive for April, 2012

How to get a free credit score

Monday, April 30th, 2012

Credit crisis and recession has made people go over their credit reports over and over again to look for suspicious happenings. A bad credit report leads to several problems with mortgages so it is very effective to have free credit scores with the help from online sites. The formulas to calculate credit scores by these sites are based on the formulas provided by National Credit Bureau but the accuracy and authenticity of these credit scores is often questionable.

Using regression tables, you get an approximate result on how bad or poor debt a prospect could make. Free credit scores are not offered by government. So be careful to stay away from the clutches of cyber crime and check your credit scores regularly, like every month as suggested by experts and pay over a few hundred dollars for free credit score over a year. Monitor your credit report avoiding the hassle of hard enquiry.

Second mortgage explained

Sunday, April 29th, 2012

Many times it may such happen that you are in dire need of hard cash for some emergency. But you don’t have much liquid cash with you right at the moment. You find yourself in the midst of the ocean without any idea about what to do. But don’t worry as your property can help you regarding this. Property equity loans also called second mortgage act as a sort of credit card for you. You can borrow loan depending on your requirement against the property. The best part is the interest in not much higher since many government institutions also give such loan. But then there are certain qualifications that you have to loan be eligible for such loan.

There is a way of calculating about the loan amount that you can get against your property. Suppose you have a property worth Rs. 50,000 and your outstanding loan in the market is Rs.10000. Then you are eligible for a loan of amount Rs.40000 only. In case your outstanding amount exceeds your property value, then you are not eligible for second mortgage.


Easy tips on debt elimination

Saturday, April 28th, 2012

bt is a matter of great concern in each person’s life. Debt elimination should be done as soon as possible. Unsettled debts pose a serious threat to your personal life and health. It is an additional burden and stress in your life. Credit card debts and consumer debts are the most common forms of debt. Missed payments attract more penalties and therefore your overall cost increases. Debt consolidation is what you should look out for in which the monthly payment will pay off your debt with time. It is best to hire a professional or approach a debt management company who will try to do the debt settlements on your behalf and aid you in complete debt elimination. Some other simple tips for debt elimination are

  • Try not to get into debts at the very first place.
  • Have an emergency fund trust
  • Make a budget and track your expenses


Why do you need a bad credit loan

Friday, April 27th, 2012

Bad credit loan is a form of solution to the people who does not have a hood credit. The chance of a bad credit loan being granted becomes higher, only if you have a steady job and earning enough, which justifies your financial viability. If you have a low credit score then it is considered that you have the probability to default on a loan. This signifies that you high credit risk is involved in dealings with you. On the other hand, if you have good credit score then lenders are satisfied and you can avail a loan very easily. Secured and unsecured are the two forms of personal bad credit loans. Unsecured loans carry a huge rate of interest compared to the secured ones. Once you avail the loan, do not apply for new credit. Recurring interest and additional fees are charged on delay or part repayment of the loan

Are you eligible to apply for a business car loan?

Thursday, April 26th, 2012

Many companies need some vehicles to do work related to their business. For delivery and other transportation requirements, some business companies need vehicles. In such cases, taking out a business car loan is a smart move. Profit management and evaluation of other businesses becomes easier with a vehicle around. Now you need to make sure that your company is eligible for the loan. There are some basics, which you need to cover for the loan.

You have to have papers saying why you need the vehicle, what goods you need to deliver or transport, what other work you need the vehicle for, etc. In addition, you need to have insurance for the car or cars. Do mention the number of vehicles that you will need. The interest rate may be less if you are going to use more than one car. Always check in through a reputed loan lender. Also online deals from reputed companies are a good idea.

Managing cash flow: Importance

Wednesday, April 25th, 2012

Dealing with cash flow in this recession prone period is the hardest thing to do. But with some disciplinary steps you will be able to handle your cash. In this materialistic world everything is ruled via cash. Undoubtedly it has become an integral part of our livelihood, can you ever imagine your life without cash ever for a single day? The answer is no. Here are few tips that will help you manage your cash flow.

Do know your finances:

The first step while maintaining cash flow is knowing the possible ways through which you can earn more money which will help you keep your cash flow consistent even during your crisis situations.

Always keep a track of your spending:

It is very important to keep a track of your spending so that you do not hamper your ongoing financial position. Always remember “spend wisely and live well”.

Always plan your finances:

Planning your finances will give you an extra edge on where to land up with your finances and how to utilize it in your future endeavors. Do seek some expert advice while planning your finances for the future.

How to apply for a small business loan

Tuesday, April 24th, 2012

Are you looking for finances to fund your business? Financing is very important for your business to take off. Business loan is the most preferred choice for most entrepreneurs. Small businesses can apply to financial institutions, commercial loans, credit unions and banks. Generally loans are granted to ongoing business houses rather than start-ups by the banks. There are certain procedures that one should follow to submit the loan application.

  • Determine the amount of business loan along with detailed financial structure of your business
  • Approach your nearby bank or credit institution where you would apply for the loan
  • Review various borrowing options
  • You need to prepare your business plan
  • Make an appointment for a presentation

You can consult a financial analyst who would help you through the procedure of loan application. You should have required collateral security that would help you in taking loans from lenders.

Are you eligible for a VA loan

Monday, April 23rd, 2012

VA loan was initiated by the American government to provide residential assistance for the war veteran personnel returning to U.S.A & for their own families also. It’s deemed to be a really wonderful aide especially for those dreaming of an American home. However, the VA loans demands its borrowers to meet certain eligibility criteria to avail the loan facilities. First of all, you would be considered eligible if you were in active duty in the war time & had respectable discharge following at least a ninety service days during the wars.

It’s equivalent to one hundred eighty one constant days during the peace time. Besides, there’s a 2 year requirement in case the borrower veteran started her/his service after 7th September, 1981. However there’s another vital requirement too. The veteran cannot be allowed for the VA loan in case he has any unpaid collections or judge or if he owes back taxes to the American government.

Commercial hard money loans: are you eligible for it

Sunday, April 22nd, 2012

The commercial loan for hard money is a loan of short term in nature. The most common of these loans are the hard money loans of one year. However, a person must negotiate the term of the loan to three years at least in the present market. There are a number of deals regarding loans for hard money in the present economy. When you are shopping for the loans for hard money, you have to check the penalties of prepayment and also the exit fee.


The exit fee could be a large sum that will be charged by a lender when you are paying off the loan and it will not matter if you pay the loan off late, on time or early.

Another thing to check is the amount of late fees for balloon payment. In most cases, the lenders will try to charge a very big amount for balloon payments. Therefore, you should consider these things before applying for the loan.

Same day loan details explained

Saturday, April 21st, 2012

It’s the end of month and you haven’t received your salary yet. Suddenly there is an emergency payment like a hospital bill or advance payment for a tour coming up. Same day loans are there to help you out. Same day loan is an instant cash or credit service provided by various financial institutions to help people out of emergency payments. Usually this is a hassle-free method of getting loans for which one does not have to submit documents or fax them right away to get sanctioned. Even people with bad credit record are eligible for these loans.

Same day loans are acquired by filling up a form in matter of minutes. They are charged with high rate of interest and you have to pay back the whole amount with interest on the next working day. Requirements for these loans are quite flexible that requires no credit check. Speedy availability of money to the borrower makes it a popular choice for immediate payments.