Oct
27
3 Tips that can help pay your bills
Filed Under credit card debt, credit tips, debt, debt consolidation, debt management, debt problem, debt reduce, debt relief, debt tips, financial, money | 2 Comments
Haha, i guess many people have some trouble like this. Its happen many times right? 
It’s a situation that no one wants to find themselves in, but unfortunately some of us do. Your bills keep coming but you don’t have the money to pay them. When this happens, there are two ways to deal with it. All too often, people choose to bury their head in the sand and pretend like it’s not happening. This only makes the problem get increasingly worse over time. The other way to deal with it is to face it head on, but this is easier said than done.
Here are some suggestions for dealing with it correctly.
1) Make a list- The first thing you need to do is make a list of all of the bills you must pay. For example, your list may include a mortgage, car payment, college loans, insurance and credit cards. For each of these payments, find someone to contact. The fact that you took initiative will usually result in a positive reaction from lenders. Be sure to get their name so that you can contact the same person each time. Also, if an agreement is reached, make sure you get it in writing. If you are unable to reach the same person later, you will need proof that you had an arrangement with them.
2) Be wary of quick solutions- The fact is that debt is a big problem, and it is not going to be solved quickly. If someone advertises a solution that seems too good to be true, it probably is. One example of this is debt consolidation loans. The keyword here is loan. It will get rid of your problem for awhile, but in the long run it is just going to be yet another loan you need to pay off. Use this solution with caution. Another thing to watch out for is debt doctors. These are companies or individuals who claim to have the ability to erase your credit record for a fee. This isn’t actually possible, however, and they are just scamming you for your money.
3) Keep the rest of your life in check- If your finances are falling apart, don’t let the rest of your life fall apart with it. Depression will cause inaction and inaction will cause more debt. Try to keep your life as under control as possible. Simple ways to do this are to make sure you get enough sleep at night, and eat a healthy amount of nutritious food each day.
Credit to Sherry L Harris
Ps: So, i just think. Why so many people always late to pay their bills?? 
Sep
28
Did You Know 8 Big Mortgage Mistakes and How to Avoid them?
Filed Under debt consolidation, financial | 2 Comments
8 Big Mortgage Mistakes and how to Avoid them
Applying for a mortgage can be a daunting experience.
It’s not enough that you’re agreeing to take on the biggest debt of your life, one that represents two to three times your annual income. You’re also confronted with piles of paperwork, flurries of fees and a tidal wave of terms, from amortization to title insurance, whose meaning is fuzzy at best.
“Whether it’s a professor at Stanford or a ditch digger,” said San Francisco mortgage broker Leon Huntting, “most people don’t understand the loan process.”
In this confusing and pressure-filled atmosphere, it’s easy to make some mistakes. Here are some common ones that lenders and mortgage brokers see, and what you can do to prevent them.
Not fixing your credit
Mortgage brokers say they’re confounded at the number of buyers who apply for a mortgage with their fingers crossed, hoping their credit will allow them to qualify for a loan.
Before you even think about applying for a mortgage, obtain copies of your credit report and your FICO credit score. Your FICO score is the three-digit number that’s used in 75% of mortgage-lending decisions. You can order your FICO score on the Web for a fee of $14.95, which includes a copy of your credit report.
Doing this at least six months in advance should give you plenty of time to challenge any errors on your report and ensure that they’re removed by the time you’re ready to apply for a loan. You can also see the legitimate factors that are hurting your score and do something about them, such as paying off an overdue bill or paying down credit card debt.
Not looking for first-time home buyers’ programs
These programs, typically sponsored by state, county or city governments, often offer better interest rates and terms than you’ll find among private lenders, said mortgage consultant Diane St. James. Some are tailored for people with damaged credit, while most can help people with little saved for a down payment.
Some of these resources are listed on St. James’ educational Web site, ABC Mortgage Consulting. You can also call the housing agencies for your state, county and city to see what they offer.
Not getting pre-approved for a loan
Many first-time borrowers confuse being “pre-qualified” with being “pre-approved.” Pre-qualification is a pretty casual process, where a lender tells you how much money you probably can borrow based on how much money you make, how much debt you already have and how much cash you have for the down payment.
Getting pre-approval, by contrast, is a much more rigorous process and involves actually applying for a loan. You typically submit tax returns, pay stubs and other information. The lender verifies the information and checks your credit. If all goes well, the lender agrees in writing to make the loan.
In a hot or even warm real estate market, the house hunter who is only pre-qualified is a cooked goose. Home sellers and their agents give much more weight to offers being made by buyers who already have a loan lined up.
Borrowing too much money
Many people take out the biggest loan they possibly can, figuring that their incomes will eventually increase enough to make the payments comfortable. But few first-time buyers have any clear idea of how expensive homeownership can be. Not only will you shell out more for mortgage payments than you probably did for rent, but you’ll also need to cover property taxes and homeowners insurance, as well as higher bills for utilities, maintenance and repairs than you faced as a renter.
Lenders are perfectly willing to let you overextend, knowing that you’ll probably forgo vacations, retirement savings and new clothes for the kids rather than default on your mortgage.
“Mortgage money … is way too easy to get,” said Ted Grose, president of the California Association of Mortgage Brokers. “People tend to overbuy … and that can really stress family life. It’s also a formula for foreclosure.”
Instead of going to the edge of affordability, consider limiting your housing costs — mortgage payments, property taxes and homeowners insurance — to 25% or so of your gross income. That’s a much more sustainable level for most people, financial planners say, than the 33% lenders are typically willing to give you.
by Liz Pulliam Weston
You can see 5 more Mortgage mistakes at this page if you like : More Mortgage Mistakes
Ps: Right now, i know why i need to mortgage or not..
Jul
26
How to use credit in right way?
Filed Under banting news, credit card debt, credit tips, debt consolidation, financial | 4 Comments
How to use your credit in better way. Did you know how to do that? Don’t screw up your life with huge debt. Try to control it even you think its impossible to pay that. Believe me, if you don’t do that, you will face terrible life everyday. So, what are you need to do now?
Build up your credit score. In order to build your credit to prove your creditworthiness to potential lenders, you need to use credit responsibly and consistently.
Use credit in an emergency. While it always is best to have a savings fund set aside for emergencies, credit can be used when an unexpected expense arises and you have no other option.
Consolidate your debt. You can use a loan or a credit card to consolidate multiple debts into one so that your finances are simplified. But make sure you look and choose the best one.
Shop securely online. A credit (or debit) card is nearly essential for online shopping. I always did this one. Its more cheaper and save my time.
Track family spending with credit cards. If each family member has his or her own credit with which to make purchases, you can figure out exactly where your money is going and how you might be able to cut back.
Turn a credit card into a low-interest loan. If you have a credit card with a low interest rate attached, then you might consider using it to fund a somewhat large purchase that would require another loan anyway.
Use a loan to make a big, necessary purchase. If it was not for credit, most people would never be able to buy a house. Yap, i agree with this one because todays, its not easy to buy house or car without do some loan.
Use a credit card for safety. Especially when out of town or planning to make a large purchase, a credit card eliminates the need to carry around large sums of money. Never use it to buy unnecessary gift. Especially to your girl friends.
Use a credit card for convenience. Especially when out of town or planning to make a large purchase, a credit card eliminates the need to carry around large sums of money.
Make a purchase that appreciates in value. A mortgage loan is considered a “good” debt because homes generally appreciate in value over time.
Earn rewards or cash back. You can get something in return for the purchases that you make anyway if you put them on a credit card with rewards. In fact, you might even want to volunteer to put others’ purchases on your own card – so long as you trust them, of course.
Take advantage of 0% APR. If you have credit card debt that you would be able to pay off if not for that pesky interest, then consolidating your debt onto a new credit card with a low introductory APR might be just what you need.
Take advantage of tax breaks. Some types of debts, such as mortgage loans and student loans, allow you tax breaks. HAha, you need to do this one. If not, you idiots. Agree? Haha, i have PTPTN loans need to pay..
So, you want to know more? Read more articles in this website. I believe you can get more tips and can help to to decrease your huge debt. If you not believe me, at least you need to think about your family or parents.
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Jul
15
How to counter credit card rates?
Filed Under credit card debt, credit tips, debt consolidation, financial | 4 Comments
Did you think credit card rate kills you?
You may think that credit cards are offered to people for a convenience when the primary reason for them is to generate money to financial institutions that issue them. The credit card companies post interest rates in terms of an APR (Annual Percentage Rate), this APR that they offer from card to card.
As a consumer you should be trying to find the card with the lowest possible interest rate that you can. There are so many differences in the way interest can be compounded on the credit card that you receive. This compounded interest can affect the cost of the money you are borrowing. Interest can be compounded daily or monthly and credit card companies have different ways in which they calculate the balance on which the interest can be applied.
Your credit card debt is called revolving debt because interest that is earned on a principle balance is added back to the balance on which interest can then again accrue. A simple way this is put is the credit card companies earn interest on interest which makes paying off the balances of the credit cards a very costly and timely process for you and in turn very beneficial for them. Still thinking credit cards are a convenience? So, you must learn how to counter it.
Ps: Sometimes, i think credit card its not important anymore. I believe my heart with my girls its more better than have crazy huge debt credit card..
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