Tips to Get Your Home Ready for a Home Equity Loan

Posted by on Aug 19, 2015 in Uncategorized | Comments Off on Tips to Get Your Home Ready for a Home Equity Loan

If you are thinking about taking out a home equity loan, you need to prepare yourself and your home. Sure, you want to work on sprucing up your credit report, but there is so much more than that that needs to be done. Take a moment to review the following tips for getting your home ready. This way, when you do apply for the home equity loan, you will have a better shot at receiving an approval. Improve the Curb Appeal Part of the value of the home comes from its curb appeal. After all, it is hard to convince a bank that your home is worth the money you want if it does not look all that fantastic from the outside. Some of the things that you can do to efficiently improve the curb appeal would be to plant flowers, add landscape mulch, give the siding a fresh coat of paint, and paint all of the trim work and doors. Update All Fixtures Whether you have outdated sink faucets or old light fixtures—you will want to replace them with something more modern. This will need done throughout the entire home, as these updates are affordable yet help increase the value of your home. The more your home is worth, the easier it will be to qualify for the home equity loan. If you are having a hard time coming up with money, you can always find used modern fixtures that will work just fine. If they are still in great shape, it will not matter if they are used. You can find these online, at flea markets, or at home improvement stores that carry strictly used or discontinued items. Clean Up the Clutter Sure, the value of your home is supposed to be determined strictly according to the structural integrity and efficiency of the home. However, it may be hard for an appraiser to see all of the beautiful woodwork or updated electrical outlets if your home is packed full of stuff. Therefore, this is the perfect time to do a little deep cleaning. Think about how you would want the home to look if a real estate agent was bringing strangers through your home. If you simply cannot part with certain things but you know that they need to be out of the way, you can always put them in a garage or rented storage unit until your home appraisal is complete. With the previously mentioned tips in mind, you should have a much easier time getting your home ready for the home loan application...

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3 Tips For Buying A Home With A Less Than Perfect Credit Score

Posted by on Jun 17, 2015 in Uncategorized | Comments Off on 3 Tips For Buying A Home With A Less Than Perfect Credit Score

In an ideal world, everyone who wanted to purchase a house would have a great credit score, high and steady income, and 20 percent down for a down payment. However, this is simply not the case. Instead, there are many people who feel like they can afford a home and are ready to purchase, but don’t have the best credit score. Luckily, there is still hope. Here are some things that you can do to help get qualified for a home loan, even if your credit score is less than perfect. 1. Get An FHA Loan There are certain loans that are backed up by the government. These loans are put in place to help first time homebuyers, veterans and other people who might not be able to get a loan get into a house. Many times these programs don’t require you to have a large down payment, and they don’t have as strict requirements when it comes to credit scores. When you talk to the mortgage lender, let them know about your credit score. By giving them a heads up that it might be low, it can help them decide what kind of loan would be best for you. 2. Buy Low In Your Budget If your credit score is low, but you have a good income, then you might want to consider buying a house that is lower in your budget. Say that you could afford a $2,000 mortgage payment. But with a poor credit score, the lender will be less incentivized to lend you the money if it is right at your debt to income max. Instead, try going for something that is far lower than what you could “afford.” That way the banks won’t be nearly as worried about you making your payments since they see you can easily afford it. 3. Be Honest With Your Lender Before the lender actually goes through the process of getting your approved, or closing on the house, they will want you to give them hard numbers. You might be tempted to inflate these numbers to help your chances. But eventually you will have to provide all the documentation to prove everything. If you have not been straightforward about income, credit score, debt and much more, you could be in trouble. Additionally, if you have many lenders pull your credit score it could hurt it even more. This is why it is better to be honest at the beginning, and see what they can do for you, before you have them pull your credit and try to get you approved. If you have specific questions about home loans, contact a business like Dynamic Mortgage Concepts Inc to learn about what your options...

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What To Do When Your Student Loan Payment Is Late

Posted by on Mar 27, 2015 in Uncategorized | 0 comments

Your student loan is late and you have either no money or a negative number in your bank account. This happens quite a bit, so don’t panic. For most people, their student loan payments are the largest payments they need to make every month, other than their rent. Student lenders are used to late payments, but that doesn’t mean you can just ignore it. A late payment will go on your credit report and will stay there for some time. The suggestions below can help you avoid hurting your credit report and manage your loans for a bit.  Call Your Lending Agent and Ask for an Extension Call your lending agent, communicate your problems and ask them if they can give you a break. It’s important that you actually receive an extension when you call. Some agents will tell you to make a partial payment in good faith. In general, these partial payments will not help your situation. You will still be marked as late, it will still go on your credit report and collections will still begin against you after a certain amount of time. Making a partial payment is not an extension on your due date unless they specifically tell you they will extend your due date. Take Out a Pay Day Advance If your lender absolutely needs a payment, one easy way to deal with it is to take out a pay day advance. There are loans online that will let you borrow a few hundred dollars — sometimes up to a thousand dollars. You can then use this money to pay off your loan and to avoid being late. Though you will be charged some interest, this may not be as bad as getting a black mark on your credit report. Talk with a cash advance service, like USA Cash Services, to weigh your options.  Change Your Due Date Most student loans will let you change the due date on your loan at least once for the duration of the loan itself. You can change your due date to something that falls after your next pay day to give yourself some breathing room. However, this can usually only be done once, so make sure you save this option for when you really need it. Often the due date can be changed online without having to call into the billing department. If you find that you’re late on your student loans a significant portion of the time, you might want to consider restructuring your debt. A debt consolidation service can help negotiate with your creditors to make sure that your debts are paid on time and that your payments are...

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Seeking The Sterling Truth? What You Should Know When Selling Silver

Posted by on Mar 18, 2015 in Uncategorized | 0 comments

Most people are familiar with the current high value of gold, but not as many people are aware of the fact that selling your silver to a local gold and silver buyers can also be an excellent way to earn some extra money. Silver values are on the rise, with early 2015 values spiking up 9.8 percent. This can be a good time to sell your extra silver jewelry, but first you need to know a bit more about how to recognize what you actually have. Recognizing Plated Silver There are many pieces of jewelry and decorative items that look like they’re pure silver, but are in fact only silver plated. Silver plated items are typically made from a base metal such as copper, brass, or nickel. They are then coated in a thin layer of sterling silver. If you have plated silver, it may be unmarked. Alternatively, it may have either of the following markings: EP: This stands for “Electroplated,” meaning that it is an unspecified base metal with a layer of sterling silver plate. EPNS: This stands for “Electroplated Nickel Silver,” and indicates that the base metal is nickel. It has a layer of sterling plate. Plated silver items are not normally worth money at a gold and silver buyers due to the small amount of genuine silver that they contain. There may be exceptions for antique pieces or very unusual items, however. If you think the item may have an intrinsic value due to age or uniqueness, have it evaluated separately from any scrap silver that you plan to sell. Recognizing Sterling Silver Sterling silver is usually very easy to identify thanks to its markings. Typically, it will have a “92.5” marking. This indicates that the metal is composed of 92.5 percent genuine silver. The other 7.5 percent is a base metal like copper, or a combination of base metals. More rarely, sterling silver may be marked with a “Sterling” mark. This is more common in large decorative pieces such as platters or other tableware. If a piece has the Sterling mark, it must be at least 92.5 percent pure silver. Recognizing a Good Offer Knowing a good offer when you hear it can be difficult if you don’t have some idea of the current value of silver. Keep track of the spot charts on the Internet. The current price per ounce on the spot charts can give you an idea of how much silver should be worth. Naturally, your gold and silver buyers have to make money, so they won’t offer you the full spot price. However, you should try to aim for as close to the spot price as you can get. Watching the spot price charts can also let you know when silver prices spike, and thus when the ideal time to sell would be. If you have some genuine silver, you have some money. You just need to take it to a gold and silver buyers to convert it into cold hard...

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