Top Tips to help you secure a mortgage loan

Top Tips to help you secure a mortgage loan
The American dream is to own a home someday. We all have
this passion deep down in side. Most Americans don't have
the money to pay cash, so they turn to lender to assist
with the purchase of there first or second home. With all
the new guidelines in banking I will give you exactly what
you need to do to secure a mortgage. I know everyone's
situation is different, but there are some steps you can
take so you will not have problems in today's lending
market. This will also help you regardless of what the
lending market is doing.

Know what's on your credit report
Most people have not idea what is on thier credit report.
They also have not idea what their credit scores are. This
is amazing to me, since the way to financial freedom is to
manage your credit health. Otherwise you are probably
paying too much in the way of terms and rates. Get a copy
of your credit report with credit scores regularly to mange
your scores.

Pay all your bills on-time
If you think paying a bill late every once in a while is
ok, you might want to rethink that logic. A single late
payment on any obligation will lower your credit score
between 100 and 150 points. So if you had a credit score of
750, now it's a 600 score. If you are having financial
problems and think you might be late, call the creditor to
make arrangements. Make sure once you work out something,
that you get something in writing stating they will not
report any payments late with the arrangement. So the idea
is to not be late on anything. Lenders don't like to see
you late on anything, because this looks like you are
having financial problems. This ultimately means you are
not ready to buy in a underwriters eyes.

Save your money
When applying for a mortgage, having savings is a big plus.
This shows you have stability and the ability to save money
for emergencies. Most loans are run through a automated
underwriting engine, and with savings in the bank could
mean the difference between a approval or a denial. A good
goal to have is 6 months worth of mortgage payment in the
bank. If you are buying a house around $200,000 six months
payment would be $12,000 in savings.

Pay your Rent on-time, and don't break a lease.
Being able to pay rent for at least 12 months on-time is a
plus. It looks better to pay rent and all your utilities on
time for 12 to 24 months. This shows a underwriter you are
able to handle responsibility. Lease agreements are one of
those contract deals that if you break it and don't pay the
fee to break the lease it can show up on your credit
report, plus the apartment complex typically will not give
a good verification for rent due to the lease being broken.

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About the Author: Mike Clover is the owner of
http://www.creditscorequick.com/ . CreditScoreQuick.com is
the one of the most unique on-line resources for free
credit score report, fico score, Internet identity theft
software, secure credit cards, and a BlOG with a wealth of
personal credit information. The information within this
website is written by professionals that know about credit,
and what determines ones credit worthiness.

Commercial Loans and Small Business Financing - What to Avoid

Commercial Loans and Small Business Financing - What to Avoid
The combination of factors noted below can have dire
financial results for commercial real estate loans and
small business loans. Business owners should be prepared
for these real possibilities. It is always advisable to
have an advance understanding of what can go wrong with
working capital financing and commercial loans.

The worst case scenario for small business loans and
commercial real estate loans is not a situation that most
people should want to experience. There are several
elements that we believe will almost always produce this
serious but avoidable result when they are all present
simultaneously. Understanding each of the issues should
enable borrowers to avoid a potentially devastating working
capital financing outcome.

Here are the issues which we believe will usually result in
a worst case scenario for commercial loans if all five are
present: (1) Dealing with an inexperienced commercial
finance advisor; (2) Using a lender which historically has
an unacceptable track record for successfully completing
commercial loans; (3) Obtaining business financing that
includes a recall option for the lender; (4) Inappropriate
and non-competitive business loan terms; and (5) Short-term
financing in which a borrower is not also offered the
opportunity to lengthen to a longer-term period.

Our primary advice is to totally avoid circumstances where
all five factors exist at the same time. A secondary
recommendation is to also seek alternative financing for
commercial loans when either of the first two elements are
present. There are likely to be many working capital
management scenarios where it will be impractical to avoid
all of the issues described in the preceding paragraph.

It is important for business owners to secure commercial
financing which is not impacted by the worst case
conditions. By not taking necessary action before
finalizing commercial loans, business owners will subject
themselves to inappropriate business financing terms for a
very long time. Two points deserve special emphasis.

First, small business loans are more complex than most
borrowers realize. There are a number of additional serious
commercial funding obstacles beyond those noted in this
brief article. Because of this, it is important for
commercial borrowers not to narrowly focus on the factors
included in the worst case scenario discussed here and
simply avoid these specific issues.

A comprehensive approach to working capital management
should incorporate a balanced analysis of both the worst
case aspects and other critical business finance terms. The
importance of this overall perspective is why we emphasized
the critical nature of avoiding both inexperienced brokers
and lenders.

Second, the worst case scenario for business loans
described above is totally avoidable. But to avoid an
obstacle, it is critical that you have a working
understanding of what you are avoiding, what it looks like
and any special techniques required to evade it. For
example, if you are driving a car, it is common sense that
you will not intentionally drive your vehicle over sharp
pointed objects that are likely to puncture your tires.

With commercial loans and commercial real estate loans, the
combination of the five factors noted previously in this
article will typically produce an impact for small business
funding that is equivalent to much worse than simply
puncturing a tire. Unfortunately, without proper advice and
knowledge, most business owners will not be prepared to
recognize the appropriate warning signs for avoiding
business financing hazards.

The primary theme of this article was on a combination of
small business financing problems that typically have
immediate and long-lasting negative consequences.
Commercial borrowers should not overlook the multitude of
other serious problems with commercial loans beyond those
described. As with the circumstances noted above, most of
the other potential difficulties with business loans can
also be avoided.

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Learn how to avoid mistakes with commercial loans and find
out about business cash management strategies at AEX
Commercial Financing Group. Steve Bush is a small business
loans expert =>
http://aexcfg.com

Picking Shares For Profit

Picking Shares For Profit
How To Pick Shares

Many people are able to live off of their profits from
share market trading. They have learned some of the secrets
of the share market and have developed their ability to be
able to pick the right shares on a rather regular basis. To
them, there is little risk because they know how to choose.
Here are some tips to help you to pick the right shares on
which to place your money.

Understand Your Own Needs for Best Share Picks

You need to make some decisions about what kind of
investing you want to do before you go looking for
particular shares. You may decide that you only want your
money tied up for short periods instead of for the long
haul. If you do not have a lot of money, or want to invest
in penny share for quick profits, then short term may be
the way for you to go. Or, you may want something that is
generally stable enough that you do not need to follow the
share market trends all the time, and just want to let it
sit for the long term. Your decisions from the start will
determine where you need to focus your search for the right
share.

Read How Big Investors Pick Their Shares

Every now and then, you may be able to see an article that
shows what techniques are used by the big companies, like
Merrill and Lynch, as to how they pick their share. Since
these are the experts in investments, you can be sure that
there are real nuggets of information and tips that you can
use in news of this kind.

Sometimes, the information may even be put in a way that
shows you what factors they rely on most heavily for their
decisions. This information is unsurpassable to help you
know how to pick the share that you want to place your
money on.

Look At the Big Picture

The economy always goes through various cycles. With each
cycle you will find that certain industries and companies
fluctuate with the economy at that time. Other companies
may not be so affected, depending on what they manufacture
or service they provide. Before you invest, you want to
understand what part of the cycle the market is in first,
and then do your share picking from there.

Consider Tips from Experts

A number of share expert individuals share their opinion on
a regular basis online. It may be a good idea for you to
watch the results of their share picks for a time to see
how accurate his or her information might be. If accurate,
then you might want to follow some of their tips to know
where to invest during that day, or week. You also might
see if other experts are in agreement before you spend your
money.

Look Carefully At the Company And Its Competitors

By understanding the company and its operations, as well as
products, you can get a good idea of how it will perform on
the share market. Its financial standing and practices,
past performance, and anticipated earnings should give you
a good idea of where it is going.

A company's competitors will indicate the likelihood that
one company will stay in the forefront or decline in
prominence if its competitors have similar - or better
product offerings.

Finally, you do not want to forget about the new software
that is automatically able to show you which shares may be
the most profitable at any given moment. This is often easy
to use and could help you to make some real shortcuts in
picking profitable share.

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For more information on how to pick shares and trading the
Australian Share Market visit
http://www.howtoinvestinshares.freedvd.com.au

Credit Report after a Bankruptcy

Credit Report after a Bankruptcy
Your credit report after a bankruptcy will look like a bomb
was dropped on it. Your credit score report will be
littered with all kinds of derogatory information.
Depending on what type of bankruptcy you filed will
determine how long it will take to re-establish your
credit. The two most common bankruptcies are Chapter 7 and
Chapter 13. With the new bankruptcy law, more people will
be forced to file Chapter 13. Here are the differences.

Chapter 7 bankruptcy- is considered liquidation of your
non-exempt assets. This bankruptcy is considered the
quickest and simplest of all bankruptcies. A court
appointed trustee sells off all your assets in an attempt
to pay back some of your creditors. During most Chapter 7
bankruptcies the client will not have any assets to
liquidate.

Chapter 13 - This bankruptcy is considered a wage earner
plan. This plan allows individuals whom have income to
develop a plan to pay back there creditors over a 3 to 5
year period. Under this bankruptcy you are assigned a court
appointed trustee that you make the agreed upon payments
to, which they in return pay your creditors.

Bankruptcy is all too common these days with the economy
the way it is. The mortgage crisis and the price of gas
have caused many people financial troubles all over the
United States. Luckily there is hope after a bankruptcy.
It's kind of like polishing up your shoes after you have
got some scuff marks on them. Your credit is the same way,
you can re-establish credit after a bankruptcy, and that is
the first step once you are done with your bankruptcy.

How to establish credit afterwards
The first step is to get two secured credit cards. No bank
is going to allow you to get an un-secured credit card
after a bankruptcy. All of your past credit will be on your
credit report for 7 years. If you filed chapter 7, it will
be on your credit report for 10yrs from file date. But most
of your past negative credit will be on your report for 7
yrs. The main objective is to get new credit on your report
as soon as possible. The only way to do that is with
secured credit cards, and Orchard bank is a great one. FICO
likes to see a mix of credit, so make sure you get a couple
of secured credit cards. This process will take you at
least 12 to 24 months to get your credit scores where they
are somewhat decent. After a little time with no slow pays,
your creditors will start extending credit to you again.

Don't be a repeat offender
FICO will forgive you for past bad credit mistakes, but if
you are a repeat offender it will be tough to recover. The
new FICO scoring process does not want to see you
continually having problems. So learn from past mistakes,
save your money for hard times and emergencies. Also
remember to always stay ontop of your free credit score
report

----------------------------------------------------
About the Author: Mike Clover is the owner of
http://www.creditscorequick.com/ . CreditScoreQuick.com is
the one of the most unique on-line resources for free
credit score report, fico score, Internet identity theft
software, secure credit cards, and a BlOG with a wealth of
personal credit information. The information within this
website is written by professionals that know about credit,
and what determines ones credit worthiness.