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3 Lies Predatory Lenders And Creditors Like To Tell

Posted by on May 23, 2016 in Uncategorized | Comments Off on 3 Lies Predatory Lenders And Creditors Like To Tell

Thanks to the savvy nature of the lies that some predatory creditors and lenders like to tell, it’s easy to fall into the trap of this unhealthy loan process. Some predatory creditors offer a very low initial interest rate, only to jack it up very high after a brief period of time. Others offer many other promises that they can’t deliver while others turn to harassment when overwhelmed debtors cannot pay back the money that’s owed. Before accepting any credit card offer or loan, consider these lies that predatory creditors like to tell.  Lie #1: You Won’t Be Able to Get Credit Elsewhere Scare tactics are a part of many types of advertising, but predatory lenders seem to take this up to the highest notch. While you may have difficulty getting credit with some mainstream companies, it’s possible to get secured credit cards with a reputable bank or finance company no matter what your credit score may be. That can help you rebuild your credit just as well, if not better, than taking out a predatory loan or credit card. You can also seek help with a financial guidance center, where you can receive help with your money problems.  Lie #2: You Have to Accept Extra Features Some other unethical lenders like to say that you have to accept certain extras with your high-interest credit card. Those extras can include products like credit insurance that are not required by law, and they shouldn’t be pushed as a must-have in order to get a credit card or loan. If a creditor will not let you simply take out a loan or credit card without demanding that you accept tacked-on extras, take some time to consider the situation because it’s probably not worth it. Lie #3: You Need to Agree to Mandatory Arbitration Some predatory creditors will add a clause into your contract that would require you to sign away your right to pursue future legal action against the company for fraud or other reasons. The only option you would then have would be arbitration outside of the courts, which would probably put you at a great disadvantage. You should not sign any such agreement, and it’s a red flag if any company demands that you do. Finally, it can be difficult to recover from a period of financial strain, but it’s within your power to turn the bad situation around. With help from a consumer finance center, you can start on the path to building a healthy financial...

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Getting Released From Jail Via A Bail Bonds Company: Things To Know

Posted by on Jan 6, 2016 in Uncategorized | Comments Off on Getting Released From Jail Via A Bail Bonds Company: Things To Know

Have you been depressed over an upcoming court date that might end up with you being escorted to a jail cell? You should be able to rest easy knowing that it is likely that you will be given a bond amount to get out of jail, and a bail bonds company can assist financially to pay it. Discover in this article the helpful things that you should know about getting out of jail with help from a bail bonds company. How Can a Bail Bonds Company Be Reached if Someone is Already in Jail? The key to reaching a bail bonds company while you are in jail is to make good use of your first phone call. For instance, you can call someone to assist with contacting a bail bonds company, or can use the call to call the company directly from jail. If it is your friend or relative that makes contact with the bail bonds company on your behalf, he or she will be told what kind of information is needed in order for your request for help to be processed. However, it is also possible that a representative from the bail bonds company will visit you in jail to discuss the application for bail. What Does a Bail Bonds Company Need for the Application Processing? One of the most important pieces of information that a bail bonds company will require is the name and contact information of your employer. They will want to make sure that you have a means of paying back the short-term loan. If you are unemployed, you can give them the name of someone who might be willing to co-sign the application; however, your assets can be used as collateral as well. You will also be asked for some references of people that you know. The bail bonds company will ask the jail staff to fax over a copy of your identification card and documents showing that you can be bailed out (as well s the bond amount). What Happens After the Bond Amount is Paid? After a bail bonds company accepts and processes your application for bail, they will be held legally responsible for you after you get out. You will be told not to leave town and must show up for court to carry on with what you were put in jail for. If you skip court, the bail bonds company will send bounty hunters to locate and transport you back to jail. A bench warrant will also be issued for your arrest. Contact a bail bonds company if you need the help and don’t intend on skipping town after your release! To learn more, contact a bail bonds company like Alda Pauline’s Bail...

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Four Steps For Getting Mortgage Loans To Finance Your Home

Posted by on Sep 17, 2015 in Uncategorized | Comments Off on Four Steps For Getting Mortgage Loans To Finance Your Home

Landing a dream home can be your reality as long as you do what you need to when hunting for a mortgage. This is perhaps the most important piece of the puzzle, so you should exhaust all of your resources to find the best loan for you. This guide will teach you some keys to finding great loan rates from reputable lenders so that you can finance with your home without issue.   Keep Your Money Where It Is When trying to free up money for down payments on a home, you might be tempted to dip into or transfer money from the stock market, your retirement, savings, mutual funds, index funds, certificates of deposit and other sources. However, you should avoid this temptation, because you need to have a clean representation of your finances while shopping for a loan. If a lender sees multiple transactions to and from different accounts, it becomes harder to prove your financial standing and will make that process more arduous.  Focus On Getting Your Credit In Order Simply put, you will not get the best loan rates available unless you get your credit in prime condition. To do this, you should first pull a credit report to get a thorough breakdown of your history and the score itself. According to experts, having a credit score of 720 or higher will give you the best possible results. Make sure that the balances on your credit cards or any other forms of credit are low, so that you can continuously improve your credit before reaching out to lenders.  Keep Other Costs In Mind Securing mortgage loans will come down to more than just making your first premium payment. As you seek approval, you will typically need to make a good faith payment to the lender. You can think of this in the same vein as paying a deposit for an apartment that you are renting. Because of this, make sure to set aside enough money to cover all potential costs.  Check Around For The Most Reputable Mortgage Loans Don’t get tied into doing business with just one lender. Instead, shop around to make sure that you are getting the fairest shot at financing your dream home. It pays to check with sources like the Department of Housing and Urban Development in order to find lenders who are reputable and professional every step of the way. Follow these four tips, so that you can get the fairest mortgage loan that you need to finance your dream...

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5 Benefits of Peer-to-Peer Lending

Posted by on Aug 19, 2015 in Uncategorized | Comments Off on 5 Benefits of Peer-to-Peer Lending

Peer-to-peer lending is a non-traditional form of loan that basically eliminates banks and other financial institutions as middle men between lenders and borrowers. Instead of applying to a bank for a personal loan, borrowers can apply to a peer-to-peer lending site and receive a loan that is funded by individuals. There are several benefits of this type of loan, for both lenders and borrowers. Easier Approval for Borrowers Peer-to-peer lending is growing astronomically, with more than two billion dollars a year being lent out per year in just the United States. One of the main reasons for this growth is that the approval process is often easier than the approval process for traditional loans. While banks have become increasingly stringent about credit scores, with peer-to-peer lending individual lenders will sometimes overlook shaky credit histories. Simple Application Process Unlike the mountain of paperwork some banks and credit unions expect borrowers to complete, peer-to-peer lending applications are streamlined and can be filled out quickly online. In some cases, you may be required to upload copies of tax documents and give access to your bank account, so it’s a good idea to have these things handy when you begin your application. Quick Funding of Loans Once you’re approved for a peer-to-peer loan, funding tends to happen very quickly, often within a couple of days. You will most likely want to link your new loan to your bank account so that your funded loan can be directly deposited. This will also make your payments easier, since you can set up automatic payments from your linked bank account. Great Interest for Lenders Not only are peer-to-peer loans great for borrowers—they’re also a good deal for lenders. In fact, lenders can expect annual returns in the 10% range, which is much better than interest earned on traditional savings accounts and many investments. Affordable Payment Plans for Borrowers A major perk of peer-to-peer loans is that the interest tends to be quite reasonable and you can usually structure the payments in an affordable way. During the application process you will be able to adjust the loan amount, monthly payment amount, and overall length of the loan in order to keep your payments as manageable as possible. Whether you’re looking for a personal loan, or a new way to earn interest on an investment, peer-to-peer lending is definitely worth looking into. Talk to a prosper review professional for more...

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3 Reasons To Get Your House Appraised Before Your Sell

Posted by on Jul 31, 2015 in Uncategorized | Comments Off on 3 Reasons To Get Your House Appraised Before Your Sell

Before you sell your house, there are several things that you need to do. One of them is to get your house appraised. Getting your house appraised means that someone is going to come in and evaluate your house. An appraisal management company will send a representative to look at how big it is, how big the lot is, and what kind of amenities your house has. They will also look at the neighborhood and the prices of other houses in the area and compare your house to those houses. All these things will go into establishing the value of your house.  Reasons to Get Your House Appraised There are several reasons why you should get your house appraised prior to starting the selling process.  1. Sets the price: The first reason is to set the price of your house. If you have an appraised value, you can have a good place to start to price your house and to start negotiations. If the potential buyer tries to lowball you, you can pull out the appraisal to back up your selling price.  2. Eliminates surprises: Having your house appraised before you start any negotiations can make it easier if the potential buyer asks for an appraisal. Their appraiser may give your house a lower appraisal that what you have already had done. They may try to use that appraisal to renegotiate the price or their bid. However, if you already had it done, you can use your appraisal to rebut the one that the buyer had done. That can help you stand on your selling price.  3. Helps with buying your new home: If you are selling your house, you need to have somewhere to move. Generally that means that you are buying a new house. In order to buy a new house, you need to know how much you can get out of the house you are selling. Since you are going to have an established value of your house, you can use that amount to start looking for a new house in your budget. Even if you don’t get the amount of money that your appraisal says your house is valued at, you will still have a good place to start getting a mortgage for your new house.  If you are selling your house, getting an appraisal is a good idea. The best place to start is with your real estate agent. They can recommend an appraisal management company who can help you with the...

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Four Types Of Precious Metals To Invest In

Posted by on Jul 15, 2015 in Uncategorized | Comments Off on Four Types Of Precious Metals To Invest In

When you’re just getting started with buying and selling precious metals, one of the most difficult choices is deciding what type of metals to buy. Here are some of the most popular forms of precious metals, along with the benefits of each. Jewelry Jewelry is a great option for the novice precious metals trader. Since the amount of gold or silver in any piece of jewelry is small, you can get into this market without a lot of capital. Jewelry is also a stable investment because you’ll have interest from many different types of buyers, including people who simply want to own jewelry. Bullion You’ll most often deal with bullion when you’re buying and selling gold. For buyers that want to make a bigger investment, gold bullion is one of the simplest options because its bulk makes it easier to handle. Some companies offer you vaults where you can store your bullion; they will manage your inventory for you as you buy and sell your precious metals. Coins Coins are another type of metal that can be a trader’s dream, since rare types of coins will fetch a high price from collectors and historians. Gold, silver, and bronze coins tend to hold their value over time, especially when they are in short supply. Verifying ancient coins may take a little bit of sleuthing, but you can have them sent to a laboratory to be dated or talk to a coin expert to verify the patterns on the coins. Finding ancient coins for sale can be a tough task, but when you are able to locate ancient coins through a company like Harlan J. Berk, LTD, this type of trade can produce a lot of profit. Scrap Metals If you have a bit of knowledge about the manufacturing industry, scrap metals can be a great investment option. Many companies will have scrap metals that they are eager to dispose of, so you can get a good deal on old scrap. Junk yards might also have old automobiles and electronic parts that contain useful scrap metal. The aluminum, steel, and platinum found in these old parts can be gathered and resold to various markets, including the automobile and engineering industries. Your options are many when you first begin to trade precious metals. The best way to pick a format is to decide which metals have a good market, and then speak with a financial adviser to pick the items that are best for your budget and your level of...

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How To Make The Most Of Your First Home Purchase

Posted by on Jun 22, 2015 in Uncategorized | Comments Off on How To Make The Most Of Your First Home Purchase

Are you shopping for your first home? If so, the start-up costs can be extremely overwhelming and discouraging, especially if you are on a tight budget. Not only is buying a home expensive, but the property taxes that come with your home purchase can also be a cost you may not be prepared for. To ensure you have a successful and affordable home buying experience, you may want to consider applying for a first time home mortgage. There are many benefits and features that come with a first time home mortgage, such as the following: Low Down Payments: A traditional down payment on a home can be as high as 25% of the home’s value. This percentage rate is a large sum of cash to put down on a home, especially if you are looking for a higher priced home in a safe neighborhood. If you are concerned about saving this type of cash, definitely consider a first time home mortgage, as you can pay as high as 3.5% down, which is far cheaper than the alternative. Tax Savings: Property tax and loan interest can definitely be an expense that can hurt you financially; however, with a first-time mortgage, you will be able to claim your property taxes and the interest rate on your loan on your yearly taxes. This will save you thousands and make owning a home much easier. Not only will you save on property taxes and interest rate expenses, but you will also be able to sell your home without having to pay sales tax on any profit that you make. Co-borrowers on the Loan: If you don’t have the best credit and need help applying for your first home loan, you will have the option of asking your parents or someone else to help you co-sign your application. This option will make your application appear much stronger so you can get the best interest rate and loan terms. This feature can help many first time home buyers, as you won’t have to wait years for your credit score to get better. These benefits and features make buying your first home much more convenient. So, rather than stress about coming up with a tremendously large down payment or having to wait years until your credit is in good standings, definitely be sure that you take advantage of these opportunities that you can receive as a first time home buyer. For more information about home mortgages, visit McHenry Savings...

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The Difference Between Gold Bullion And Numismatic Gold For New Gold Investors

Posted by on Jun 3, 2015 in Uncategorized | Comments Off on The Difference Between Gold Bullion And Numismatic Gold For New Gold Investors

Would you like to buy physical gold as an investment? While there are many types of physical gold, it’s often broken down into two categories, gold bullion and numismatic gold. Considering Gold Bullion Bullion describes gold in bulk. Traditionally, gold bullion meant gold bars, but it can also mean gold bullion coins. Bullion is often what people think of when they consider investing in physical gold. But there are a few things you need to know about it. Pros of gold bullion Bullion is only ever worth the current market value of gold. People often purchase gold to save for a rainy day. That’s because physical gold is a commodity—it doesn’t require somebody else to pay out to achieve its value. By contrast, think of a stock or bond which only exists because another entity controls the value of it. Gold also holds universal value. People all over the planet recognize the value of gold. That’s one reason it retains its value. Cons of gold bullion Gold bullion…is complicated. Knowing when to buy it, sell it, or hold it takes research and dedication to the market. Not all gold is the same. The actual amount of gold contained in bars and coins isn’t always high. This is a hazard that can come from not doing research on where you source your gold from. In addition, it costs to hoard gold. You will need to find a place to keep it safe. And remember that gold is a metal; a lot of bullion equals a lot of weight. Considering Numismatic Gold Numismatic gold is gold that has value beyond its actual gold content. These are things like rare gold coins or even gold jewelry. The word “numismatic” is “the study or act of collecting of coins, paper money, and medals” (Merriam-Webster). Numismatic gold can make for an excellent investment. However, it’s not always safe to assume the value will hold on numismatic gold. It’s also not safe to assume that everybody who advertises numismatic gold is really selling numismatic gold. So what makes it numismatic gold and not just market value gold? Rarity Condition Mintage Demand History Pros of numismatic gold The greatest advantage that numismatic gold and jewelry has over bullion is that it has a value beyond that of its gold content. Sometimes, that value can be orders of magnitude beyond the price of gold. It’s possible to purchase numismatic gold for cheap prices if you’re knowledgeable and the seller isn’t. You can also purchase numismatic gold in bulk, just like bullion. Cons of numismatic gold The learning curve for the numismatic gold market is steep. This is especially true if you plan to actively invest rather than purchase and hold. Since the valuations can change based on demand, you can find yourself holding onto gold that is worth less than even the market value of gold. Research First, Then Buy with Confidence Many people are buying and selling gold; it’s a thriving market. If you’re new to it, you should always do your research. There’s a learning curve involved with every aspect of the gold trade. But you will have to start somewhere. Make sure that when you do decide to buy gold, you purchase from a reputable gold dealer. If you’re looking for a gold dealer...

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Keeping Track Of Where Your Money Goes: How Accounting Services Can Help

Posted by on May 8, 2015 in Uncategorized | 0 comments

You make a budget every month and try to stick to it, or maybe you are not the budgeting type. Either way, discovering that you are short on cash is disconcerting. If you want to know more about where your money goes, hiring an accountant or requesting some accounting services will help you see what is happening to your cash flow. Here is what an accountant will do for your situation. Keeping Track The biggest part of keeping track of where your money goes is keeping receipts. An accountant will show you how to create a spreadsheet and enter your paychecks and your purchases consistently. Everything you receive and everything you spend has to be entered right away so your records are accurate. He or she will also show you how to create spending categories so you can get a very clear picture of where you are overspending and where that excess might be put to good use elsewhere.  Deposits and Reallocations: Out of Sight, out of Mind and out of Reach Sometimes the biggest problem with direct deposit of one’s paycheck is that you suddenly have all this money, but it is in one spot. It is too tempting to shop until you drop, and that may be one of the reasons you come up short. When you hire an accountant to show you how to make deposits and reallocate your money, it becomes less of a temptation because you have less to access. Consider opening extra savings accounts and moving your money to these extra accounts where your check card or bank card cannot reach them. After a while, you will be surprised to find that you do not remember the reallocated money and you have what you need for more important things. Getting Rid of Excess It is a slow process to get rid of excess financial waste. Once an accountant (such as one from James Gioia & Company PC) has helped you find what it is you spend too much money on, then you need to figure out how to spend less in this area. He or she can show you lots of little tricks which help you save for what you really want rather than what you think you need. Taking his or her advice and learning from these accounting services he or she provides will help you retain more of your hard-earned money every month and put you on the right track toward financial...

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Exploring the Pros and Cons of Home Equity Loans versus Reverse Mortgages

Posted by on Apr 15, 2015 in Uncategorized | 0 comments

Seniors on a fixed income will often find themselves in need of a loan in order to cover unexpected costs, such as making major repairs to their home. In many cases, borrowing against the equity in their home will prove to be the most realistic option for these seniors. There are two different loan products that will allow them to make repairs: a traditional home equity loan and a reverse mortgage. If you are like many seniors, choosing between these two options may be quite difficult. However, by taking the time to carefully consider the pros and cons of each option, you will be able to determine which loan product is best suited to your particular needs. Home Equity Loans Home equity loans provide you with a lump sum payment that is based off the amount of equity you have in your home. Since these loans provide you with a large sum of cash at once, they are often the best option for individuals who require an immediate increase in cash flow in order to cover a substantial expense. Traditional home equity loans will need to be repaid over time by making fixed monthly payments. These payments will cover both the principle of the loan and any interest that is charged on the loan. While this type of repayment schedule will typically cost the borrower less over time than when choosing other loan options, the need to make a payment each month can prove quite difficult for many seniors who are forced to live on a small monthly budget. If you find that you are unable to repay a traditional home equity loan, you may be forced into selling your home in order to avoid the possibility of foreclosure. Reverse Mortgages Reverse mortgages are typically paid out over the course of many years in the form of a structured settlement. Consequently, these loans are ideal for seniors who require an ongoing increase in their monthly cash flow. For instance, individuals who find that they have outlived their retirement savings may benefit from the use of a reverse mortgage since it provides them with a fixed amount of cash each month in order to cover their financial responsibilities. Reverse mortgages do not need to be repaid as long as you live in your home. Instead, interest will continue to accumulate for as long as the loan is active. Once you vacate the home, the entire balance of the loan, including all interest, will become due. While this repayment schedule may seem ideal for many seniors who do not plan to vacate their home until their death, it is important to remember that things do not always go according to plan. If you are forced to move into an assisted living facility or nursing home later in your life, you may find that you need the proceeds of selling your home in order to help cover your living costs. If these proceeds are already earmarked for the repayment of a reverse mortgage, you may find yourself without the cash you need to cover long-term care costs. For more information, talk to a professional like Union State...

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