Saturday, March 28, 2009

Get A Better Refinance Deal Than Your Local Bank Offers

Gone are the days when money could be fetched either by mere mortgaging or financing something. Now it is time to get money via an amalgam of the two i.e. Mortgage Refinance. Mortgage refinance is a smart idea to have a good credit sum and repay it in an easy fashion. In simple terms a refinanced mortgage is one where a borrower repays a previous loan by taking a new one. The main motive behind refinance mortgage is to get a lower interest rate, lowering their payments or to take cash out of their home equity. So basically in mortgage refinance refers to taking a secured loan to replace the existing loan that is secured via some assets of yours.

Let us first delve into the factors that instigate a refinanced mortgage. There are several reasons that instigate people to opt for refinance. For instance

(a) Mortgage refinance reduces the interest rate on your mortgage. It not only minimizes your EMIs or monthly installments but also brings down the total amount that you need to repay.

(b) Another wonderful feature of mortgage refinance is the reduction in the tenure of the loan, which is immensely effective in saving lot many bucks.

(c) Mortgage refinance is a smart idea to consolidate or fuse the amount you need to repay.

(d) Mortgages refinance serves you with the most essential thing i.e. cash in hand. You can draw on an equity built up in the house to acquire cash amount for several purposes such as your daughter's marriage, child education etc.

(e) If you want to have an adjustable-rate mortgage i.e. ARM and a fixed-rate loan in order to ensure you regarding the mortgage payment, mortgage refinance is a brilliant idea.

However there are other things to be taken into consideration. First and foremost mortgage refinancing can be recommended if the present rate on your mortgage is at least 2 percentage points higher than the existing market rate. Second you need to know that for how long you propose to stay in the house. Third you need to know that according to many sources given the costs of refinancing, it takes at least three years to realize completely the savings made from a relatively lower interest rate. Finally in order to go for mortgage refinance is to enlist complete expenditure of refinance and calculate your monthly installments. Knowing this will enable you to decide whether you should opt for refinance or not.

Well before going for a mortgage refinance you can also ask yourself questions ponder over questions such as- by how much will your existing monthly installment be lowered, what will be the financing cost that you will have to pay, how much will you owe in the house and for how much was the initial payment for the house made etc. Once after going through the various factors and conditions you feel it is appropriate to go for a mortgage refinance (which is true with most of the cases) then the first step is to consult a good real estate agent, mortgage lender as well as an attorney and other legal practitioners. Searching online is even an excellent option.

About the author:

Mansi gupta writes about mortgage refinance .

Written by: Mansi gupta

General Personal Financial Advice

Personal finance is an individual's financial status. It's about how much money you have, and how much you need. It is about managing your money - today and for tomorrow. Money is the currency on which all world economies function. Income - expenditure -bills- debts - savings: These are a fact of life. A constant for most is the endeavor to tip the scales in favor of savings.

Successful financial management includes planning and keeping records of income and expenditure, budgeting, balancing your check book, insurance and investments - whether in real estate, the share market, funds or any of the other available mechanisms. You cannot overlook the necessity of planning your savings, your tax savings and your retirement.

A very interesting way to look at Asset and Liability is in the following terms:

An Asset is anything which brings in money or does not change the status of your money in the bank. A liability is anything which causes money to flow out - whether under the pretext of taxes, interest or fees.

Budgeting - This ensures that you are financially healthy and flourishing. It is a good idea to create and use a budget worksheet which allows you to make a detailed expenditure plan and helps you discover any shortage or unplanned expenditures.

Some useful tips in planning your finances:

- Handle your own money. If you choose a financial consultant, ensure you understand how your money is being managed. - Save a huge amount in interest by opting for a shorter tenure of loan term - home/ car/ personal. - Debt: Should ideally not be indulged in, or repaid at the earliest. - Savings: it is easier to save more if you start early - you can put aside small sums and over the years watch it accumulate and earn interest for you. - Retirement planning: don't wait till you are 40 to start. Begin today - and ensure a comfortable lifestyle in your old age. Avoid cashing out your PF or breaking your Funds. - It's a good idea to do an Annual/ Quarterly financial health check up.

About the author:

Joseph Then provides advices about Personal Finance and dealing with bad credits. You can visit the website for more information

Written by: Joseph Then

Foster Home Uses Pay Option Mortgage Loan For California Refinance

“We recently received an application from Angela P. who needed to refinance her California home. While finding out her specific goals for the refinance I learned that she was a foster mom and cared for multiple "crack" babies that had been taken away from their mothers at birth because of testing positive for an illegal substance during labor,” states Gary Rees of

“She was trying to utilize the equity in her home to remodel and add a bedroom to make it more comfortable for the two teenage and two newborn children her and her husband care for.”

“For their situation I decided that a Pay Option mortgage loan program would give them the cash flow needed to cover shortfalls. It also lowered their mortgage payment over 1500 a month,” continues Rees.

A Pay Option Mortgage Loan allows the complete flexibility to decide, every month, which of four mortgage payments you would like to make.

This program is ideal for anybody that has fluctuating income such as the self-employed. Pay Option is also an excellent choice if you are looking to buy a new home and want the lowest possible monthly payment, or if you simply just want to lower your existing mortgage payment.

The Pay Option Mortgage is a relatively new product that allows you four payment options each month.

1. 15 year payment- Pay your loan off and build equity faster as well as save thousands of dollars in interest

2. 30 year payment- This option will let you know how much to pay to have your home free and clear in the standard thirty years

3. Interest only option- This option allows you to pay only the interest portion of your monthly payment so you can increase monthly cash flow

4. 1% Minimum payment-This option allows you to pay your mortgage at a 1% rate of interest for maximum savings

The Pay Option Mortgage is the absolute best adjustable mortgage product available today. It has built in features that protect you
from the typical worries associated with an adjustable rate mortgage.

One is the fact that your payment cannot increase more than 7.5% above the previous year for the first five years. Another gives you the option to convert to a fixed rate mortgage after the first three years. With these features in place you can rest easy with your new adjustable mortgage.

Here is an example of what a Pay Option Mortgage could for you

Estimated Current Monthly Payment - $1663.26
New first year payment - $833.13
Estimated increased monthly cash flow- $830.13
Estimated increased yearly cash flow - $9961.52

Disclaimer-First years interest rate 1.25%. Interest charged at 3.45% for the first month. APR 3.74% subject to increase monthly. 30-year loan.

This loan may have negative amortization. Max increase/decrease in monthly payment is 7.5% per annum for the first five years. This is an ARM product.
Example payments based on 7.0% interest rate and $250000 loan.

“During the loan process I got a chance to visit her home and was really impressed by the cleanliness of both her home and all the kids. I have three of my own and I can tell you it’s a challenge to keep up the house and the kids and the homework.”

“Clearly a great family! We decided to waive our fees and pick up the costs involved in this transaction for Mr. and Mrs. P who are providing love and shelter to the innocent children victimized by addiction."

“It was the least we could do for this amazing family that breaks even after buying clothes and food for the kids. For Angela and her husband, this is truly a labor of love!” concludes Rees.

For more information on Pay Option Mortgage Loans please call 1-866-398-4664 or go to

About the Author

Full service marketing

Written by: Keith Hunt

Refinancing in Florida

The decision to buy a home in Florida can be one of the best you will ever make. If you own a home in Florida you may be considering refinancing. Refinancing now can potentially save you thousands of dollars over the length of your mortgage. Florida lenders are offering low interest rates and could save you thousands of dollars over the length of your loan. Mortgage companies serving Florida and the United States are able to offer loan packages that make refinancing your home a wise decision. Compare your current interest rate to the rates being offered now and see how much money you can save by refinancing your home.

Florida is a great place for families, seniors, and businesses. Owning a home in Florida is a good financial investment due to the constantly expanding real estate market. There are many historical and modern cities in the state of Florida. Jacksonville is a historic city and was named for Andrew Jackson. It has two seaports, seven universities and five colleges. Winter Park is equally fascinating and abounds in social, educational and cultural amenities. As an added bonus, both Winter Park and Jacksonville have affordable housing to fit any budget and a multitude of mortgage lenders across the state, both online and traditional, to help you with all your refinancing needs.

Mortgage lenders in Florida and across the country are currently offering the lowest interest rates in many years. If you have been considering refinancing your home, contact a Florida lender today. You can often get multiple quotes from different lenders with one quick online application. Florida is the perfect location for those who enjoy the sunny weather and sandy beaches that dominate the landscape. Refinancing your Florida home can give you lower monthly mortgage payments, which could lead to extra cash in your pocket each month to explore all that Florida has to offer.

Mortgage lenders online generally service loans in all states and will be able to assist you in your refinancing goals quickly and efficiently. Apply today for a home refinance loan and you could start saving money every month and give yourself the freedom to accomplish your financial goals. Lenders are anxious to get your loan approved and will handle the processing of your loan with personal attention and professionalism. Interest rates in Florida are at all time lows and the real estate market is expanding constantly. Refinancing your Florida home is a smart investment in your future.

To view our list of recommended nationwide mortgage lenders who service the
Florida area online visit this page:
Recommended Florida &
Nationwide Online Mortgage Lenders.

About the Author

Carrie Reeder is the owner of ABC Loan
Guide, an information website with articles and the latest news about
various types of loans.

Written by: Carrie Reeder

5 Ways To Slash Your Home Finance Costs

It's no wonder that the majority of homeowners dream of one day being able to pay off their home loan and live a life free from the shackles of interest rates, home finance and worries about meeting the monthly mortgage payments because the largest expense the majority of us take on in a lifetime is our mortgage and each month our home finance payments take a substantial chunk out of our take home pay.

Just think what you could do with all the extra money you would have spare if you didn't have to meet your mortgage each month! Interested? Well, here are five steps that you could take today to substantially slash your mortgage repayments and the overall cost of your home loan and even speed up your rate of repayment so that the day when you've paid off your home finance and are free to live the life you want comes that much sooner.

Step One - Demand Better Service!

As a loyal customer of your mortgage lender isn't it about time you were rewarded for your financial commitment, for making your regular payments and for being a good, long term customer?

Well, you can rest assured your mortgage lender will not reward you unless you ask for a better deal on your mortgage!

So get on the phone, call up your lender, ask to speak to someone in customer services or the customer retention department and explain that you're looking around for a better mortgage deal. Ask them for an evaluation of how much you have left to pay so that you can give it to any one of the hundreds of other mortgage lenders out there all willing to give you a better deal.

If you are indeed a valued customer you should receive favourable feedback to your demands and receive details of better offers currently available to you from your current lender.

Remember, if you don't ask you don't get and be adamant about what you want!

Step Two - Shop Around.

If step one doesn't get you the deal you deserve, shop around. There really are well in excess of a hundred lenders out there all seeking new customers who will offer you incentives to take up their mortgage product.

Use the internet to get an idea of rates being offered and special deals available to you. Do remember that lenders will do everything they can to make their deal seem like the most attractive one available and do everything within their power to attract new customers so you need to be shrewd.

Look for any hidden charges or tie in clauses and make sure you evaluate products offered on a like for like basis taking into account all the features of the mortgage offers available.

Step Three - Call in the Cavalry.

Well, not the cavalry exactly but expert assistance in the form of a licensed and regulated fee free independent mortgage broker. In the UK these guys are now regulated by the Financial Services Authority and in the US they should come under the scope of The Responsible Lending Act.

As independent brokers they have access to and understanding of every single mortgage product available and they should be best placed to assist you find a better deal than the one you have now where your repayments will be less, your interest rate will be lower and the amount you repay over the entire duration of your loan is reduced.

Make sure your broker is fee free and remunerated by any company you decide to take a mortgage out with. More importantly than this, make sure they are regulated and licensed correctly and if possible ask for professional references or testimonials.

Step Four - Cut Out All Extras

Mortgage lenders are notorious for selling overpriced add-ons such as life insurance, home insurance, contents insurance, income protection cover...all these insurances have their value of course - but you can bet your bottom dollar that you can every last one of them for a fraction of the price by going directly to an independent insurance house or even seeking the services of an independent financial adviser to find you the best deal available.

You could literally save yourself thousands each year in insurance premiums!

Step Five - Throw Some Money at It

So, you've cut your interest rate down to size, reduced your monthly repayments, maybe received a cash lump sum from a new lender and saved yourself thousands on insurance products - now turn all those savings back into your mortgage and repay early.

Make sure you have it negotiated into your new mortgage contract that you can make early repayment or lump sum annual top ups and get rid of the millstone round your neck, free yourself from your largest financial commitment as soon as possible and save thousands in interest payments and enjoy freedom of life once again!

About the author:

Rhiannon Williamson is a freelance writer whose articles about property investing and emerging real estate markets have appeared in publications around the world. She is currently working on a brand new property investment resource

Written by: Rhiannon Williamson

Finding The Best Mortgage Refinance Rate

You may have become used to the monthly house payment that you make. But for many of us refinancing our homes is a great way to save money, lower the house payment, and unlock some of the equity already built change such as refinancing in the house.

What exactly does it mean to refinance your mortgage? When you refinance you are replacing your current loan with a new loan from another or the same institution. Refinancing could mean switching banks or other financial institutions, or you may even be able to take a new deal from your current lender. In fact, this is recommended if your credit history has a few pock marks. The lender knows your history and will be able to help you out, where as another lender may look badly upon bad credit.

Where to start? To begin, you need to determine whether or not you will actually be better off by moving your mortgage. You need to look around and see if there are deals out there better than your own. Try out an online refinance calculator or refinancing calculator. These calculators have limits, but they give a vague idea of what your month to month will look like. Back your findings up with some substantial advice. Speak to family and friends and locate a mortgage broker who is right for you. According to the Mortgage Bankers Association, the "rule of thumb" is to only get a new mortgage that is at least two interest percentage points below the amount of interest that you currently pay.

Here is a bit of advice. The first piece of advice when you are considering changing your mortgage is to get good advice. Talk to a mortgage broker about the best road for you to take. This is their job; they know what they are talking about. Talk to others who have refinanced their homes. Also, you will want to shop around for the best rate. Check the interest rates in each and every mortgage plan you investigate. Ask for comparables. See where individuals in similar circumstances as you have gone with these companies.

Ask these companies to paint a picture of where you can be in the next five to ten years if you choose to refinance with them. You only want to refinance">">refinance you can get a better interest rate. Also, consider how long you are actually going to be in your home. The Mortgage Bankers Association claims that the month to month savings may not add up if you are only planning on staying in your home for a year or two. Consider the future closely before going through with a dramatic financial.

About the author:

Sara Chambers is a marketing consultant and an internet content manager for">">

Written by: Sara Chambers

Finding The Right Time To Refinance A Loan

If you've been thinking about refinancing a loan, you might wonder whether or not right now is the best time to do so.

There are a variety of factors which can influence whether or not the timing is right for refinancing... national and local interest rates, your credit history, and even the amount of time that you've been making payments on the loan.

We'll look at each of these factors in a little closer detail, so as to give you a better idea of what you're looking for when trying to decide whether or not the time is right to refinance.

National Interest Rates

Interest rates fluctuate as time goes by, increasing naturally over time as the cost of living and other expenses increase.

The base interest rates that all lenders must adhere to are set on a national level, however... this is one of the ways that governments work to battle inflation and try to influence consumer spending if the economy stalls or slows down.

In periods where spending is rampant and prices are beginning to rise, national interest rates might rise so as to slow down the increase in prices due to overspending. If the economy has reached a slower point, however, interest rates might be lowered to encourage consumers to apply for low-interest loans.

Obviously, this is the best time to apply for loan refinancing, since the interest rates that you'll pay will be lower and the loan terms may be more flexible.

Local Interest Rates

Of course, interest rates may fluctuate locally just as they do nationally. You might find higher or lower interest rates depending upon where you live, and the difference between local interest rates and the national interest rate might become significant if your local banks see a need for higher interest rates because of conditions in your area.

Before deciding upon a refinance lender, it's often a good idea to check interest rates in other areas as well... the best time to refinance is when your local lenders are closer to or below the rates offered in other areas.

Credit History

As with your initial loan, the interest rates that you pay on a loan refinance can vary drastically depending upon your credit history.

While your credit score might well be better when you apply for your refinance than it was when you applied for the original loan, there's always the chance that you might have missed a few payments to one creditor or another since getting the loan and your score might have dropped.

Just because you've already gotten the first loan, don't think you can ignore the importance of your credit history... make sure that you take it into account when searching for a loan refinance.

Time Elapsed on Loan

The amount of time that has passed since you received your original loan can have a bearing on how much you pay on a refinance loan. It can be frowned upon by some lenders to apply for a refinance soon after receiving your loan... if nothing else, it can show that you didn't take the time to research your loan options before deciding upon a lender.

In order to avoid this problem, be sure to investigate all of your options and compare the offers of several lenders before deciding upon a loan.

If after you've received your loan and begun the repayment process a major drop in interest rates or some other change occurs, then go ahead and refinance... otherwise, it's best to wait until at least a quarter of the loan has been repaid.

You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:
About the Author

John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the website.

Written by: John Mussi

Finding You A Mortgage Refinance Advisor

If you are looking to refinance your home for a lower rate, or you are interested in a refinance with cash out to do some home repairs, buy a new car, etc., you may want to consider finding a mortgage refinance advisor.

There are actually two ways you can go about refinancing your home. The first would be to do the shopping around for a refinance on your own. The second way would be to locate a mortgage refinance advisor.

A mortgage refinance advisor. Otherwise, known as a mortgage loan officer or mortgage broker are not at all hard to find.

The internet is perhaps the best resource for tracking down a mortgage refinance advisor. There are literally hundreds of them right in your own back yard, and the internet would be by far the best way to begin your search.

Once you have found a mortgage refinance advisor, don't stop there, shop around. By shopping around with a few different loan officers and brokers, you will give yourself the ability to compare rates and prices.

Think of it the same way you would go about purchasing a new car. Shop around, test drive a few by going to different dealerships. Once you have test driven a few cars and compared pricing, base your decision on the best and most reasonable deal.

By shopping around as opposed to committing to the first mortgage refinance advisor you come across could mean the difference of thousands of dollars in closing costs and interest fees' over the life of the loan.

By allowing no more than four loan officers or mortgage brokers to assess your situation, you are putting yourself in a much more ideal situation. Especially if your credit is challenged or your situation is unique, not only will the mortgage refinance advisors' expertise come into play, you will be in a position to compare rates and pricing.

Remember, the majority of mortgage refinance advisors are paid on commission, so it is just as important to them as it is to you to get to the closing table. Good luck.

About the Author

Jennifer Hershey has more than twenty years of experience in the Mortgage Industry as a loan officer. She is the owner of, a mortgage resource site devoted to making mortgage terms and products easy to understand.

Written by: Jennifer Hershey

Finances For The Freelancer

Budgeting and financial planning are great ideas, but how in the world do you budget or plan when you don't know from one month to the next how much money you're going to earn? You have months at a time when you earn very little money, and then during the prosperous months you're busy playing financial catch-up - and then comes another tough time.

It's a difficult situation, but there are ways to approach the problem that, over time, will provide some stability for your finances.

The first trick is finding out how much it actually costs you each month to live; chances are it costs more than you think it does. Add up all your expenses - food, gas for the car, rent or mortgage payment, utilities, car payments, car and health insurance, and so on. Don't forget periodic payments like license renewals and car registrations, birthday and holiday gifts and cards, Lotto tickets - anything that costs you money. A good exercise is to carry a small notepad around with you for a couple months and keep track of everything - I mean every penny - you spend. Allow yourself a certain amount for entertainment; if you put yourself on such a strict budget you can't enjoy yourself you won't maintain it.

Once you've decided what it costs you to live each month, that's what you live on. Open bank accounts for each broad category - monthly expenses, weekly expenses, and so on - and then deposit the amount of money you need per month into the appropriate accounts as the money comes in. Separating monthly from daily expenses actually frees you up; if you know you've got money stashed safely away for the rent, heat, etc., and you see a pair of shoes or a book you really want, just check out your daily expenses account; you may find that if you eat rice and beans for a few days you can spring for the impulse buy without wrecking your budget. Just don't, under any circumstances, raid the monthly expenses account!

If you have a month where you earn more than you need to spend based on your budget, put the extra into an interest-bearing savings account until you need it during the next low income period. Don't blow the extra on a luxury item, at least not until you've built up a substantial financial cushion.

The conventional wisdom is that if you have credit card debt, you should pay it off before you start saving money. On paper, that looks good; you're going to save a lot more in interest payments if you eliminate your credit card debt than you'll be earning in a conventional savings account. But you need to take into account your uncertain financial circumstances and your own human nature. Having a month or two of living expenses in the bank can do an amazing job of calming one's nerves, and can preclude the need for charging more money on your credit cards.

Here's a good approach: stop charging on credit cards, period. Unless you have a necessary expense that you can't pay any other way, don't charge it! (Those kicky shoes aren't a necessity unless you're barefoot.) Pay cash, or don't buy whatever it is you wanted to buy. Do your utmost to accumulate one to two months' living expenses in a savings account, to be used during slow months, and then start paying down your credit cards, getting rid of the balance with the highest interest rate first. One exception - if you've got some cards with big balances and one or two that have a hundred dollars or so on them, and you can pay the little ones off in one fell swoop, do it! The psychological boost you get from getting rid of one credit card balance is worth what little extra interest you'll pay by delaying paying the high balance card for a month. Once you pay off each credit card, cut it up, don't use it - but keep the account open. You've just improved your debt to available credit ratio!

And finally, we get to taxes. Freelancers really get socked; they have to pay regular income taxes plus self-employment taxes - their own and the employer's share of social security and Medicare taxes. Currently the self-employment tax is 15.3 percent. The best thing to do is to stash 20 to 25 percent of your income in a "tax account" as you receive it, and pay your quarterly estimated taxes as they are due; but you may not be able to do that, at least not initially.

Make sure you claim all the business expenses you can legitimately claim; your self-employment tax is figured on net profit after expenses, so the more you can get that profit figure down, the less your self-employment tax is going to be.

There are penalties for not paying enough tax - in 2004 if you owed over $1000 at the end of the year, you could be fined a penalty, unless you could demonstrate that your income was unpredictable during the course of the year. (You can do that, right? A hint -update your income and expense records regularly.)

If you get to April 15 and you can't pay up, the IRS will allow you to file certain forms and set up an installment payment account; they charge you penalties and fees, but they're not substantial, and this is a good alternative if you can't cough up the cash; and it's better than putting it on a high-interest-rate charge card. By law, the IRS can't turn you down for the installment plan.

Over time, you'll be able to budget for living expenses and taxes and put yourself on a pay-as-you-go schedule. Building this sound financial foundation is the first step toward prosperity!

About the author:

Aldene Fredenburg is a freelance writer living in southwestern New Hampshire and frequently contributes to Tips and Topics. She has published numerous articles in local and regional publications on a wide range of topics, including business, education, the arts, and local events. Her feature articles include an interview with independent documentary filmmaker Ken Burns and a featur

Written by: Aldene Fredenburg

Finance Your Small Business: So Much Money - So Little Time

$47.4 million venture capital funded projects today. $86.4 million yesterday. $51.4 million the day before.

These amounts are not made up. They are actual numbers from actual reported venture capital funding. I get these notices emailed to me day after day, rain or shine.

These numbers are a constant reminder to me that companies – lots of companies – are getting funded every day.

And these numbers just reflect the reported venture capital funding. There is probably double that amount from angel investment and unreported fundings, and millions more from the $16 billion pool that SBA has this year.

All in all, it’s a lot of money. That’s a lot of companies and banks and groups and individuals actively investing in small business.

So how come you’re still looking for financing?

Perhaps you aren’t presenting your company effectively.

Or perhaps you haven’t located the right lender.

It’s also possible that your concept just isn’t very good, but I doubt that. The fact that you are reading this article means you are a serious entrepreneur, with a serious business.

So where do you go to find all these investors? Here are some starting points:

For standard business financing, talk with the local office of the Small Business Administration. It’s a different agency, with different programs and services, and lots of money to lend. Although much of the focus of the SBA is on minority business enterprises, the SBA still has a lot to offer all companies.

Also talk with your local banks. (That was plural “banks”, not singular “bank”.) Talking with a number of local bankers will rapidly bring into focus the wide ranging priorities of the various banks, and where your company fit in.

As for venture capital and angel investors, there are several options.

One option is to go to online sources. There are a number of online services, such as VFinance, that sell the names and addresses of possible investors. It’s not expensive, perhaps $2-5 per name. The idea is that once the entrepreneur gets the list of 200 or 2,000 names in hand that he/she will contact each with a written executive summary or business plan, and then wait to hear from one of them. This is a very passive approach, roughly akin to throwing paint on the wall and hoping that something will stick. For most entrepreneurs, patience is not a strong suit, so sitting and waiting for a response is not quite their cup of tea.

Another option is to go to one of the many directories of venture capital firms. These directories typically include addresses, phone numbers and emails, along with the geographical areas of interest and the types of investment that each is seeking. Most businesses can narrow down their list of prospective investors to several hundred venture capital firms this way. And again the entrepreneur is faced with the prospect of sending out written material for each one, and waiting for a response.

A third option is to take a more proactive approach. Savvy entrepreneurs identify the best prospects themselves from a number of reliable sources. They get introductions where possible. They learn everything they can about their target investors, and then go after it. Typically a phone call is the first contact, not an anonymous executive summary.

Knowing that you are calling your best prospects, you know too that they are open to hearing from you. You have names, you have investment histories, you have everything in hand to make a real connection with the target investors.

Getting your company financed is one of the hardest things you will ever do as an entrepreneur. It can be hugely frustrating, disappointing and genuinely discouraging. But lots of entrepreneurs do it. And so can you. Get the “No’s” out of the way and go for “Yes!” The exhilaration of the handshake sealing the deal is unlike any other transaction in business. Go for it.

About the Author

Ms. Shank is founder/president of She has worked in business finance in good times and bad, and will rapidly tell you that good times are a whole lot better.

Written by: MaryAnn Shank

Finance Your Real Estate Investment Properties

Unlike traditional residential real estate mortgages, real estate investment financing is way more creative and offers more options than you think. The golden rule in real estate investment is OPM (Other People’s Money).

I have enough money; shouldn’t I buy my real estate investment for cash? No, I absolutely advice against investing large sums of cash into a single real estate investment. There are two reasons why not. First, you give away most of your profits by not leveraging your real estate investment. Second, it is far too risky to put every egg into one basket.

Let me explain the leverage issue for a moment. I will give you an example of a $100,000 investment property that typically increases its value (appreciates) by 7% average a year. Maybe more, maybe less depending where you live. Paying all cash for this property will yield in a 7% appreciation profit plus the net profit from renting the place. Now you’re looking at roughly 15% of returns.

If you’re conservative with your investments you might be satisfied with this kind of a return. These days you might get equal or better returns with other conservative investments minus the hassle of being a landlord. But you don’t mind being a landlord, because you understand and utilize the leveraging method with financing your real estate investment.

With the example above you will make roughly $15,000 a year in profits from your investment. Now let’s take a closer look at what leveraging can do for you. Today a typical real estate investor can get financing as high as 95% - 97% of the purchase price. Occasionally 100% financing is available as well. But this would be totally unfair in this example to compare this with all cash purchasing.

15% return sounds like a lot, but wait till you see this. Let’s assume that the rental income will cover all your expenses including the mortgage payments. Taking the same example from before your net return would be the 7% appreciation profits of your property. This would translate into a $7,000 a year profit. With a 95% financing in place you would get $7,000 return on $5,000 (your 5% down payment) invested. This is a whopping 140%
return on investment.

With the same $100,000 you can go out there and get 20 investment properties, finance 95% of it and make an amazing $140,000 profit a year. This beats the projected $15,000 profits with an all cash transaction any day.

Of course you will have a lot of trouble to get financing for 20 properties in a single year. Typically 5-6 new rental property mortgages are the maximum lenders will allow these days. This is the signal to get creative with your financing structures.

In this case sellers financing would be your key to achieve your goal of maximum leverage of your investment dollars. Despite the message from all these late night infomercials, seller financing is harder to get than they want you to make believe it is.

It all depends on the seller’s ability to offer seller financing and the seller’s motivation. Only about 1 out of 20 properties for sale are able to get seller financing. That means that there’s no mortgage balance on the property. From this narrow selection the seller must be motivated to sell under these conditions. This could be tax reasons, time constraints, personal reasons and many more.

As you can see this translates into a lot of work to achieve your goals. But let me tell you one thing. This separates the tire kicker real estate investors from the real go-getters. Wouldn’t you agree that a little bit of hard work and determination is well worth it to build a real estate empire?

I think it is well worth the trouble and hard work. At the end of the day you keep building your real estate investment portfolio and sooner than later you will be able to cash in.

Peter Dobler
(c) 2005
Peter Dobler is a 20+ year veteran in the IT business. He is an active Real Estate Investor and a successful Internet business owner. Learn more about real estate investments at or send a blank email to

Written by: Peter Dobler

Finance Your Car with Poor Credit

Cars don't look at your credit before they decide to breakdown. Anyone, with poor credit or great credit, could find themselves in a situation where they need an auto loan. Fortunately, those with poor credit do have options available for financing their vehicles.

"Bad Credit Car Loans"

One of the most common methods of purchasing a car with poor credit is with a "bad credit car loan". You can acquire these loans through auto dealerships, online lenders, and high risk lenders. Typically these loans are available for anyone with a credit score below 600. People can find themselves in this situation after a divorce, after bankruptcy, if they have little credit, or if they have made poor financial decisions. The "bad credit car loans" are designed to protect the lender. They have higher interest rates than conventional auto loans. However, it is in your best interest to shop around for a bad credit car loan

Risks of Shopping around

There is a risk of shopping around for an auto loan. Submitting loan applications to several different companies will lower your credit score even more. It is in your best interest to find an organization that will find various Bad credit car loans for you, but only check your credit report one time.

Home Equity Loan

Another way to get auto financing with poor credit is with a home equity loan. The interest rate on a home equity loan is usually lower than the interest rate on a "bad credit car loan". Another advantage is that the interest is tax deductible on a home equity loan. The one obvious disadvantage to this type of financing is that you are using your home as collateral. If you are not able to pay your loan, then you put your home in jeopardy.

Do not lose hope if you have poor credit. There are still options available to finance your car. Bad credit car loans, and home equity loans can help you achieve your goal of purchasing a new vehicle.

About the author:

View our recommended Poor Credit Car Loan lenders.

Written by: Carrie Reeder

Finance Jobs - Finance Career

Many people are drawn to money. Not just to have more of it (who doesn't?), but to actually participate in the finance industry and make a career out of it.

Did you know that some of the most successful people in finance and investments never pursued finance in college? Did you know many never even went to college? There are people who have built successful careers in investments or the financial industry grew and learned on the job.

Like I said, there are many branches to this tree. Accountants, CPA's, and analysts must go through significant educational requirements before finding finance jobs. While these careers are built on heavy education and commitment, there are other areas of finance that do not require stringent or specialized education before entering the job market.

Stockbroker and Financial Advisor jobs

Stockbrokers, Registered Representatives and financial advisors are basically salesmen in the finance industry. That is not to demean what they do, it's actually true. Once you are a licensed stockbroker and working for a firm, you are a phone broker. Many of the top firms will require 2 or 4 year degrees before hiring you for a job, but a finance or investment related degree is usually not required. Many smaller firms do not require college at all. They are looking for brokers with talent, drive and the ability to communicate and persuade. If you can convince the firm that you can earn money, you can get in. There are successful stockbrokers and advisors who make $200,000 or more and many of them were car salesmen, insurance agents, collections salesmen, real estate agents etc. Training is ongoing and most should decide after 6 months or one year whether this is the finance career or job they want.

The downside to this career, is the compensation you earn. It is largely, if not exclusively - commission or fee based. It's a sink or swim finance career. It is not for everyone, but the requirements are easier, so if you are good at it - you're all set!

Mortgage Broker Career

When Wall Street began losing jobs in late 2000 and for several years after, many brokers and advisors began careers as mortgage processors or mortgage brokers. The mortgage finance industry was booming. With interest rates low and the economy slower, homeowners were looking to take advantage of the equity in their homes or looking to refinance. People who were in these jobs at mortgage companies made a lot of money. People had needs and the environment was ripe for big business.

The problem with mortgage finance jobs is that it is a very cyclical business and it relies on constant new business and referrals for the brokers to earn money. If I had my choice overall, getting a job in the mortgage broker business would be one of my last choices. Good times are real good. Bad times are real bad.

Insurance Jobs and Retirement Finance Careers

With the population of the country living longer and the trend of big companies providing attractive retirement plans on the decline, insurance agents, retirement and estate planners are doing well. Building a finance career and getting jobs in these areas can be very rewarding and the trends are on your side.

There are many areas of finance and investments. You may end up being a bond broker, a trader, a mutual fund broker or something else. The quickest way into a good investment or finance job or career is to get a job as a financial advisor or broker. You have to put in the time and effort, but the openings are there and the experience you gain working with client investments will serve you very well going forward. Either you make a great career doing just that, or you platform that job into another area that better suits you.

The finance industry can be tough, it is competitive and you must stand out, but it's better than digging ditches - usually!

Good Luck!

About the Author

Nick Hunter is the President of American Investment Training (AIT) and the owner of - a finance career information site with job links and educational resources.

Written by: Nick Hunter

Finance is For Everyone

Money makes the world go round, as they say, and while the whole world is full of those crisp or wilted paper bills it seems that they like to slip right through our hands so quickly.

People who know how to make a dollar or two with ease enter the world of finance, which is the business of managing your money and your other assets. If you've got a bank account, finance is involved.

If you're considering an investment to support your future, you're thinking in terms of finance. Maybe it's on our minds 24/7. After all, we need money to survive, and most of our lives is spent on making it. Not just stockbrokers or bankers or investors, the so-called money-jugglers of society.

The thing is, finance is really for everyone. If you've got money, then you have to involve your brain in the act of finance or money-managing to get the most bang for your buck. Otherwise, you will splurge and you will wonder where in the world the money went.

The best time to start learning about finance is the time you start to receive money. Think about it. When you received a check in the mail from your grandma as your birthday present, weren't you already thinking of what you were going to spend it all on?

That is the essence of finance, although that very act may have been insensible and financially disagreeable; hey, you were just a kid, after all.

Maybe you were a smart kid, one who knew how money goes. Maybe you've stashed it in your secret hiding place. Maybe you started to go into business by selling lemonade (although maybe you drank more than half of it too). Maybe you gave some away to your favorite charity. Yup, that was finance too. We all know better now, don't we?

It hasn't changed much; we go out to make money, we spend some, we save some, until we have enough to make a couple of major purchases such as homes or vacations. Only we know a bit more. And we've understood more of the finance jargon that sometimes rolls on the tongue.

Investments. Assets. Loans. Benefits. Mortgage. Insurance. Knowlege is power, as they say, and knowledge on how to finance will lead you to finance greater amounts of money in the future. So study up. Take finance management classes. Follow the stock market. Listen in on discussions.

Finance also includes self-discipline. Sometimes you have to keep yourself from small pleasures in order to attain the bigger more important things. Finance means that you need to set your priorities straight. Sacrifice may seem like a lot at the moment but the end will justify the means.

Finance is planning ahead. For your future. For your future's future. For your financial safety and stability. Because it is a very difficult thing to get by in this world without the proper resources. It is preparation for the unknown. Managing your finances mean decreasing the number of worry lines on your face.

So if you've got money, if you're planning to make money, or if you're thinking about money, well then, you're thinking about finance. Just keep in mind not just to think about finance, but to think about it wisely, too.

About the author:

James Monahan is the owner and Senior Editor of and writes expert articles about finances.

Written by: James Monahan

Finance Guide Basics

Every one or rather almost every one in this world would definitely want to have his or her future secured. Thus, every person who earns even a bit would like to save some of the money and this is where the topic of personal financial management comes into picture. Whatever be your purpose of saving money, it needs to be regulated and updated.

Investment in stock markets is one option for the same. With the advancement in technology and thereby, in means of communication (for instance, the internet), the behavioural pattern of the stock markets can be known within an instant of time. Moreover, as the presence of the stock markets being in every country, one can see the maximum numbers of investments all over the world are made here.

Another option where you can regulate your finances is by buying stocks. It is argued that although they are the diciest and most fickle instruments for investments, they can bring tremendous returns in the long run and can even leave you resistant to the rate of inflation. By owning a particular amount of stock, one is deemed to be the owner of a certain value of a company i.e. the more stock is owned by you the more faction of the company is in your hands. The prices of the stock ca change in accordance with all the factors affecting the stock markets for instance, economic, cultural and business trends.

Often it is seen that we tend to leave the saving for college and retirement till the last minute and then certain unwilling consequences have to be borne. College planning resembles retirement planning. There are bound to be questions in one's mind like how much one should save for such kind of expenses etc. it is recommended that where the planning for retirement should start in one's early twenties, the planning for college should start right from the birth of the child. It is agreed by many that early planning and savings can be of huge benefits in the long run. Planning for the college will include looking for various colleges for alternatives, tuition fees and any extra expenditure that might occur at the time for sending a child to the college. Starting all this early enough will provide adequate time to the parents to look for availing loan facilities and decide their strategy accordingly. Retirement, which is inevitable, has to be planned on the similar lines as that of the college planning. Starting early and being realistic are the keys for such kind of planning. Starting early means to start soon after one has completed his or her graduation. By being realistic it is intended to convey that one has to save according to one's requirement of the kind of life proposed to be lived after the retirement. This is to say that one has to focus on the facts basically, for instance, if one plans to live like a king with housemaids serving all the time and a castle like house then one has to save much more than a person who chooses to live a modest life with a simple house and an off-hand vacation.

Hence, you should manage your finances cautiously with investing in the right thing at the right time and saving money for the right time, because surely, time is money!!
About the Author

Mansi gupta writes about finance guide .

Written by: Mansi gupta

Finance and Lifestyle-Are They Interlinked?

When it comes to lifestyle, many debates spark up. Many people have their own idea of what lifestyle really is. But it is clear that finance and lifestyle need to co-exist in some form.

In order for you to afford a certain lifestyle, you need to be in the right financial standing. If your lifestyle consists of buying the latest fashion, then it is clear that you have or should have a certain amount of money. If you don't have enough money to maintain this lifestyle, then you need to stop spending the money.

If you have a vision of what your ideal lifestyle should be, then it is time you made your finances fit that reality. No amount of dreaming will make things come true. There has to be some form of practicality also, as money can go and debt can rise.

Do not assume that a certain lifestyle is adequate for you just because the magazines tell you so. The first thing to do is to take a look at your finances and see if they will be able to support the lifestyle depicted by the magazine or your friends.

The common mistake that most people make is that they think they have more money than they actually have. So they spend more on their ideal lifestyle just because it is a status symbol.

The philosophy is this: if they see that I am wearing so and so or driving such and such a car, then they will not see that my finances are in the red. Finance is the first thing you need to consider when you opt for a certain lifestyle.

You will only look silly if your financial situation deteriorates so badly that your house gets repossessed and you have to file for bankruptcy. Live within your means and your finance and lifestyle will be able to take care of each other.

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About the Author

Toronto Debt Consolidation
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Written by: Brad J. Tamitnowson

Finance and Divorce

Life is hard and nothing is more testing and straining than going through a divorce. A divorce can indeed be a stressful time without the added pressures on ones finances. Besides emotional erosion, a divorce is also known to be a costly event in a person's life; however provisions can be made by both parties to ensure that the financial strain incurred through divorce is made to be an equally-shared responsibility.

The best way to ensure that your divorce does not put a strain on your finances is to be realistic. What are the objectives or goals to be reached financially? People often are so used to sharing their finances when they are married that the prospect of divorce leaves them feeling confused as to what they own as an individual.

Initially couples have to embrace the fact that they are individuals and so are their finances. They are individual finances. By calculating what each person is worth or has contributed to the relationship often helps solve the problem.

The thing to do is to get help from a professional finance advisor who can aid you in this. By doing this, you are being realistic about the financial implications of a divorce. Lawyer fees can be more expensive than expected if the divorce drags out endlessly because as a couple you cannot reach an agreement. If you don't want to do this for your partner as a gesture of decency, then at least do it for your own financial future.

The tragic thing about this whole ordeal is that couples are often so bitter that they cannot see through their own disappointment. Instead they opt for a full on war with each other and forget what this war costs them in terms of personal finance. Maybe people should learn to more realistic: once it is over it is over. Pack your bags and move on; save yourself from the bills that will come on after, leaving you in a financial mess that might take too long to sort out.

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Toronto Debt Consolidation

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Written by: Brad J. Tamitnowson

Friday, March 27, 2009

FHA Home Mortgage Purchase Or Refinance Loans

Most borrowers have heard of FHA home loans. They are very common. You hear about them mostly as loans for first time borrowers, which is common. However, most people don't realize that FHA loans can also be does for refinancing. They are not only for purchasing a house.

HUD owns and operates FHA, which is a program designed to help borrowers who might have difficulty buying a house. If the borrower falls within FHA's requirements FHA insures the loan for the lender, which makes the loan very low risk for the lender, which is very good for the borrower. It could mean a lower interest rate, better terms and just an overall better loan.

FHA's requirements are; a down payment of 3-5%, the home must be under the FHA's set loan limit for the county that the borrower lives in and a few other small requirements.

The main advantage to an FHA loan, is if you can fall within their requirements, your credit history or income level, will not hold you back from getting a home loan. If you are getting turned down from other lenders because of a high debt to income ratio or because your credit is bad. You may want to consider applying for an FHA loan, where those requirements are either non-existant or much more flexible.

If the idea of down payment is holding you back, consider also, that FHA loans allow the use of a non-profit organization as a source for the down payment, which opens up the option of using down payment assistance programs like Neighborhood Gold.

To view our list of recommended mortgage lenders online, who offer FHA programs, visit this page:>
About the Author

Carrie Reeder is the owner of, an informational website about various types of loans.

Written by: Carrie Reeder

Family Finance Beyond RRSPs

(NC)-Congratulations, you have contributed the maximum amount to your RRSP. So now what?

"At this point," says Anita Prescott, a certified financial planner (CFP) and Winnipeg-based financial adviser with CIBC Imperial Service, "it's best if couples can work with a dedicated financial adviser to really look into their net worth (the difference between what you own and what you owe)." And to maximize any potential gains, Prescott offers some insight for families working together to invest and grow this net worth.

Take advantage of the benefits of a spousal RRSP

While the contributing spouse will realize the immediate tax savings from the spousal RRSP contribution, many couples will also benefit from future tax savings when income is received from the spousal RRSP, because the income is taxed at the spouse's marginal rate, and not that of the contributor. With proper planning, income can be drawn from both spouses' RRSPs or other income sources in order to reduce the total taxes paid on the entire amount.

Make your portfolio tax efficient

If you have both registered and non-registered investments, ensure your portfolios are structured to be tax efficient. Positioning your income-producing investments within a tax-sheltered RRSP and your equity and dividend-producing investments in your non-registered accounts may allow you to realize significant tax savings.

Improve your cash flow

If you have a regular investment plan in which your RRSP contribution is withdrawn automatically, you may be able to have less income tax deducted at source. That way, you'll have more cash in your pocket now instead of having to wait for your tax refund.

Have your children file tax returns

If your children earn income in the year, they could reap benefits by filing a tax return, even if they owe no tax. Earned income at any age generates RRSP contribution room, which can be carried forward indefinitely. By filing a tax return today, your children can build valuable contribution room for use in future years.

This article is intended to provide general information and should not be construed as specific advice. This article is not applicable in Quebec.

About The Author

News Canada provides a wide selection of current, ready-to-use copyright free news stories and ideas for Television, Print, Radio, and the Web.

News Canada is a niche service in public relations, offering access to print, radio, television, and now the Internet media, with ready-to-use, editorial "fill" items. Monitoring and analysis are two more of our primary services. The service supplies access to the national media for marketers in the private, the public, and the not-for-profit sectors. Your corporate and product news, consumer tips and information are packaged in a variety of ready-to-use formats and are made available to every Canadian media organization including weekly and daily newspapers, cable and commercial television stations, radio stations, as well as the Web sites Canadians visit most often. Visit News Canada and learn more about the NC services.

Family Finances

One of the hardest things that young couples report during their first year of marriage is getting to grips with joint finances. While most are willing to share what they have with their partner, they are not sure on the best way to bring this sharing into effect so that they can share with their new partner, but at the same time maintain financial security and a degree of independence. Some couples resolve this by resorting to separate finances and others find a way to keep things together, but it is generally reported as one of the biggest strains on newly married couples.

As well as this, there is also the problem that many people find it difficult to budget and control their finances. It is one thing to fail to keep track of expenditures when you are single, but when you are married you have more to answer to than just yourself. This is especially true once you have children. If one partner fails to keep control of their spending while the other is forced to worry about finances, it can create an enormous strain on the relationship.

Family Budget

One of the best answers to this dilemma is to create a family budget. This should outline what is allowed for the various expenses, which is to be responsible for what expenses and how much each partner can spend on discretionary expenses. While this may seem like a drastic response that takes away all the responsibility and financial independence from both partners, all it is really doing is getting both parties to sit down together beforehand and work out how much they can afford to spend on what, and then sticking to this. It is about being in control of your expenses rather than letting them have control over you.

Other ways of taking care of difficulties between married couples is to divide out the family expenses depending on how much each partner earns. This way both will feel responsible for the security of the family and will feel like they are an important contributor to the family finances.

Financial Matters

While each partner should have a degree of financial freedom, and also privacy, finances should be discussed openly and with without shame. Past debts or mistakes that one party has made should be put in the past and should be forgotten. At the same time, if one partner shows that they are unable stick to the budgets they have agreed, their financial freedom will have to be taken from them and they should be given a tight leash in financial matters.

About the author:

Joseph Kenny is the webmaster of the UK credit card comparison site, where you can find a selection of credit card articles. He also writes for the comparison site which offers some best credit cards in the UK.

Written by: Joseph Kenny

Hey check this out. This guy makes $500 a day online by not doing much and

he’s is giving away his website which apparently makes him $40,000 a month!

He’s got pictures of his Porsche and Range Rover on his website. The guys

seems loaded.

I got more info of him on my blog below, check it out

Thursday, March 26, 2009

Ethical Finance-Who Benefit From Our Spending?

On one hand consumers are being universally criticised for running up significant amounts of debt on credit cards, yet conversely many companies are capitalising on the growing credit card debt, from charities and political organisations to football clubs, the Association of Surgeons and somewhat ironically ActionAid, an international development agency whose aim is to fight poverty worldwide.

Financial comparison site provided 226 credit cards in a general credit card search, from which the consumer could choose a product to suit their lifestyle, as well as their wallet. Credit cards with charity branding involve many major organisations including Amnesty International, Christian Aid, WaterAid, RSPB, Save The Children, the Ramblers Association, Oxfam, Greenpeace, the Vegetarian Society, RSPCA, ActionAid, Children In Crisis, Help The Aged, Tearfund and the Terence Higgins Trust.

Perhaps it is fair to say that if people are going to spend on plastic, they should be helping charitable organisations on the way and should they feel inclined to contribute to a political institution, donating a small % of each transaction is a convenient method. If most consumers were ethical spenders, then associations between transactions and third party beneficiaries would inherit this quality, but as debt spirals out of control, is it responsible or ethical that someone should benefit at the cost of someone else?

Although it is standard for most card providers to offer an introductory free period, the consumer may be hit by a more substantial annual percentage rate (APR) later on the year, with some providers, such as ASDA charging a massive APR of 28.8%. Even ActionAid charges an APR of 17.9%, rescuing the developing world at the expense of the developed.

About the Author

For further information about credit cards and details on specific providers:
Rachel writes for Cashzilla, the personal finance blog:
Rachel drinks Guinness.

Written by: Rachel Lane

Escaping Finance

Personal finance is a scary subject for some people because it conjures up all sorts of personal fears about budgeting, managing investments and buying Vs renting a home. Fear and anxiety are common responses to the topic of personal finance regardless of an individuals level of education or experience in other areas, particularly business. As a result, many people avoid dealing with their personal finance issues until they are almost at crisis point and in serious credit or debt trouble.

But before you can make any decision about your personal finance or take any action regarding your finances, you should obtain a firm understanding of your current financial position. Surprisingly, many people have only a vague idea how much income they actually bring in each month and then how much they actually spend each month and whether there is a positive difference between these amounts that are in you favor.

So the first thing to do is assess you financial situation. Gather together all of the information and documents that will give you a picture of your financial position. Tally your net worth, including real estate, superannuation, monthly income and all other assets. You may be pleasantly surprised by the total. Then, set yourself up a budget by listing all of your expenses. Be completely honest and dont leave anything out. If you cheat on this you will only be cheating yourself. List everything including luxury items such as take out, cosmetics, magazines and movie tickets.

While a budget is absolutely the first step to taking charge of your personal finance, this is by no means the only step you will need to take. You can investigate other services in the marketplace, such as electronic bill pay, investment counseling and seeking out hints and tips for financial health. Electronic bill pay or BPay as it is more commonly known, is particularly useful for people who tend to be disorganized or who procrastinate on keeping their bill paying in order. You can even arrange for your bills to arrive by e-mail rather than through snail mail. You then pay them electronically, by direct withdrawal from your bank account and the transaction gets processed straight away.

Once you have assessed your budget and established a regular and efficient bill paying mechanism, you might feel that you are then brave enough to investigate other areas of personal finance such as investments and stocks and shares. Once again, the Internet can be an invaluable resource, allowing you to thoroughly explore all of the different options and strategies available. You can find all sorts of useful references about investments such as term deposits, managed funds, purchasing stocks and shares and participating in share clubs. You might like to start simple though and merely open a short term savings deposit account so that you can deposit from your pay check each week or month. This way, in no time at all you will begin saving for your next goal whether it be for a car, holiday or some minor surgery.

About The Author

Parone Dinanz is the owner of Finance Vue which is a premier resource for finance information. for more information, go to

Written by: Parone Dinanz

Don't Let Finances Rule Over Your Self-Esteem

I know a barber who had the opportunity of buying one of the oldest and best barbershops in his city. He had worked there for a few years, and knew it was a good investment. So, he made arrangements with the owner, and took the plunge.

However, it wasn’t long before he realized he was in serious financial difficulty. Actually, he was in trouble before the purchase of the shop, and the added debt put him in way over his head.

Prior to obtaining the barbershop, this fellow had several bad business ventures. They were all legitimate. Just bad choices! Generally, they all involved selling, in which he was not exactly a shining star. Oh, he did manage to sell a few things such as his house and his car. It was not quite that bad, but almost.

About the same time as the business failures and the purchase of the barbershop, his wife and two daughters were in college. So the debts really began to pile up, as the pressure became intolerable. Also, fatigue set in because of the three jobs he was working so that he could continue to tread water.

The barber/entrepreneur did a couple of things he thought might relieve some immediate pressure. He borrowed on credit cards and from the Internal Revenue Service (by not paying estimated taxes). Eventually everything started to come apart, as the IRS threatened a tax lien.

For lunch one Saturday the barber’s family came to his shop after hours, as they often did. He was so overcome with worry and stress that he verbally threw them out. Then he went home, closed his bedroom door and considered how he might end his life without destroying his family or disappointing his God. As it turned out, only thoughts of God and family keep him from doing the unthinkable.

As you might guess, I know the fellow’s story so well because I’m the fellow. Today, I’m pleased to say that, because I obtained the help I needed emotionally and financially, I’m well on the way to being completely debt free in few years (except for a home mortgage). And, I lead a happier, fuller life than ever. However, I’ve been left with some lessons I’ll never forget.

The first lesson is: “Debt robs a man of his self-respect, and makes him almost despise himself.” (P.T. Barnum). Thus, there’s a need to use credit wisely. Self-esteem is at stake. And, while you might buy things on credit that you can’t afford, because it temporarily lifts your spirits or gives you something to show to others, it’s not worth the shame and loathing when debt becomes overwhelming. Learn to live within your means even if it involves doing without!

The second lesson is how a loss of respect due to financial woes affects one’s attitude toward others. Sherry can always tell when I’m not happy with myself. That’s when I’m unkind to her. I’m the same way with customers. In fact, there’s no telling how much business I ran off while I was drowning financially and emotionally. I could easily have lost both my family and my business.

The third lesson I will pass along is that “…there is more satisfaction in rational saving, than in irrational spending.” (P.T. Barnum). As per the financial advice I received for turning our circumstances around, Sherry and I began a consistent, well-planned investment, retirement program. That, combined with the fact that the barbershop is now paid for, is very satisfying. It’s much more satisfying than new, showy things that we don’t need or can’t afford. I’m no longer interested in a big hat. I want the cattle!

Lesson number four is to learn from others. Experience (the school of hard knocks) is a great teacher, but not the best. That’s because much of its value is lost in the time it takes to learn the lessons. Time-tested principles are the best teachers, and they can be discovered in writings, seminars, counseling and advice from those who have been there.

Yet, it still takes time to learn these things. And, as John Wayne said, “We’re burnin’ daylight.”

BARBER-OSOPHY: Control your money or it will control you.

Copyright 2004, Sumerlin Enterprises.

Permission is granted for you to copy this article for distribution as long as the above copyright and contact information is included. Please reference or include a link to

About the Author

Terry L. Sumerlin, known as the Barber-osopher, is the author of "Barber-osophy," is a columnist for the San Antonio Business Journal and speaks nationally as a humorist/motivational speaker.

Written by: Terry L. Sumerlin

Doing A California Refinance Online

Californians are passionate people. I know. I have lived in California my whole life: From the smoggy basins of Los Angeles, to, well, the smoggy basins of Sacramento. I’ve traveled highway 101, I’ve smelled the glory of the Redwoods, and I’ve experienced the confusion of the Terminator becoming governor. Without turning into a pop-song, I’ve done it all California-style, and that even includes, moving through the exciting process of doing a California Refinance Online!

Okay, so it’s not exactly as poetic or as exciting as I’m making it out to be, but a California Refinance conducted online does not make you a bad Californian. It makes you a smart consumer, and if it’s important for you to keep your business local, then there’s no need to shy away from your monitor. You can still do it all in your pajamas.

In the next few moments, I’m going to cover some basics to ease your worries and calm your nerves about using the internet to gain access to local money.

1.You are in Total Control.
2.Some Important Online Information
3.Keeping it Local!
4.Start Broad, And then Narrow Your Search.

1.You are in Total Control.

a)Chances are, you will be filling out a short 30 second form online in the very near future, and in return, you will be receiving 3 to 4 immediate offers from brokers and lenders vying for your business.

b)But that doesn’t mean that you must receive offers from banks located at the top of the Space Needle or beneath the catacombs of the Grand Canyon.

c)The majority of the loan search services available online provide you with the option to request loan offers from several brokers specific to your area. You don’t need to reach far and wide to get a good deal.

d)This means that you can rest easy. When it’s time to complete the online short-form application, just make sure the query asks you if you’d like to narrow your search.

2.Some Important Online Information

a)Ask if your prospective mortgage broker and/or lender are licensed under the CMLA, the California Mortgage Lending Act of 1994.

b)Check out their complaint history with the Better Business Bureau online.

c) Ask if they are a member of the CMBA, the California Mortgage Bankers Association

d) Do you qualify for Affordable Housing? If so, make sure your lender can broker a loan that will meet your needs. Here is the current Interest Rate Schedule:

e) Research the current California Mortgage Refinance Rates online. We offer a free, daily rate-watch at our site, but interest rate information is everywhere.

3.Keeping It Local

a)Doing a California Refinance from your neighborhood bank or local broker, is probably a very good idea.

b)One important reason is that they know the terrain, and they know what things are like in your home town or State.

c)Every region has a different set of variables and demographics that determine its respective health or struggles, as it pertains to mortgage rates.

d)If your preference is to do your refinance with local information and personable service, then I say go with your instincts.

4.Start Broad, Then Narrow Your Search

a)Start with a broad query using the Internet, and then narrow your search.

b)There are too many banks and brokers in your area, for you to call on the phone, or take a day to drive by each office for a personal visit.

c)Use the internet as a resource. Start wisely. Conduct a broad California Refinance loan search, via the methods discussed above, and then zero in on the folks down the street.

d)If you are not making decisions based on wise, savvy shopping tactics, then in the end, you could wind up spending more money through higher rates, or higher fees, all in the good name of convenience.

e)You can still go local in the end. Those are the parameters that you get to choose when conducting a search. But don’t start there.

The internet is a powerful tool, for your California Refinance needs. Don’t ignore it. Use it, and use it to your full financial advantage.

We’ve enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense.

Publisher’s Directions: This article may be freely distributed so long as the copyright, author’s information, disclaimer, and an active link (where possible) are included.

Disclaimer: Statements and opinions expressed in the articles, reviews and other materials herein are those of the authors. While every care has been taken in the compilation of this information and every attempt made to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. The author will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

About the Author

Copyright 2005, by Loans-Resource.Com , This article is available in full format at: California Refinance , Tom Levine provides a solid, common sense approach to solving problems and answering questions relating to consumer loan products.

Written by: Tom Levine

Do You Need A Mortgage Refinance Loan?

Is your home loan interest rate higher than the national average? Is your home in need of some much-needed repairs or are you in need of some extra money to pay off credit cards or other bills? A mortgage refinance loan may be exactly what you need to take care of these needs and any others that you might think of.

If your interest rate is higher than normal, it is a good idea to refinance your loan. A lower interest rate can make your monthly payment lower and easier to manage. If you are having financial difficulties, this can be especially helpful. If your finances are pretty steady, then you may be able to get a shorter-term loan when you refinance so your loan will be paid off much sooner. This is great if you are planning to stay in your home for the rest of your life or for longer than the length of the loan. If you are planning to move within ten years, then a shorter-term loan will most likely not be as important to you as a lower payment would be.

If you are in need of some money to pay off credit cards, make needed home repairs, or even to take a vacation, then you might want to consider refinancing your home. You first need to find out if you have any equity built up in your home. Equity is the value of your home versus the amount that you own on your house. Let us say that your home is now worth $125,000 ten years after you purchased it and you owe your lender $95,000. The equity that you have is $30,000. You can borrow up to $125,000 against your home and can use the $30,000 equity for repairs, bills, or anything else. You need to decide if your intended use is worth you refinancing your loan for 15 years or more. The good thing about home loans is that they are tax-deductible in most cases, so this may be a good benefit for you.

Refinancing will mean that in most cases you are starting your payment term all over again. This is something that you need to keep in mind before signing on the dotted line. You need to know all of your options before you decide that this is your only option. Home loan refinancing is a big business and many companies will offer you the moon to get you to refinance. You need to take into account the closing costs and fees of the loan to ensure that it is a right choice for you.

If you do all of your research and come to the conclusion that refinancing is right for you then you need to find a lender that you are comfortable with. Check around to several different lenders to find the best interest rate for your loan to ensure that you are getting the best deal. Then you are sure to find a mortgage refinance loan that you are satisfied and happy with!
About the Author

This article may be freely distributed providing no alterations are made to the text and the link remains live and intact.

For a Home loan mortgage refinance loan Please visit us at

Written by: Paul Heath

Wednesday, March 25, 2009

Email Scams- Ten Simple Steps to Protect Your Online Finances

According to the Anti-Phishing Working Group (APWG) email scams also known as phishing attacks claim more than 2,000 victims each day from more than 75 million phishing emails that are sent each day. The APWG also claims that these email scams steal close to $1 billion a year from its victims.

Phishing (pronounced fishing), is online identity theft that uses spoof emails, fraudulent websites and crimeware to trick unsuspecting internet users into providing financial data, credit card numbers, social security numbers, account logins and passwords, etc.

These email scams (spoof email) mimic legitimate companies such as banks, credit card companies, investing companies, paypal, ebay, etc. These fraudulent emails look like they are from the "real" company; many even include the real company's logo. Generally these emails try to convey a sense of urgency; if you don't correct this problem your account will be suspended.

The spoof email may state that there is a problem with your account and if you do not log in and update your information your account may be suspended, restricted, terminated, or something similar. They may also request user name, passwords, credit card numbers, social security numbers, etc.

Protecting yourself against phishing and email scams.

1. Do not give out personal or financial information through an email request.

2. Always log on to your sensitive accounts by opening a new browser and typing the actual URL directly into the address bar. For example, if you receive a suspected phishing email from ebay, open a new browser and type "" in the browser bar.

3. Do not click on any link in a suspected phishing email.

4. Do not open any attachments in a suspected email scam.

5. Only use a secure website to submit sensitive data. A secure sites' address will begin with https:// instead of http://

6. Check the activity of your online accounts regularly and check for fraudulent activity.

7. Make sure your browser is up to date and all security patches are installed.

8. Report phishing and spoof email to: ,, and forward the email to the company that is being spoofed.

9. Keep your PC protected with updated anti-virus software, anti-spyware software, and a firewall.

10. You may want to install an anti-phishing toolbar such as Earthlink ScamBlocker which alerts you before you visit a known fraudulent website. It's free and can be downloaded at

As email scams are on the rise and with the consequences being identity theft, it is important that you increase your awareness and learn to protect yourself from these fraudulent attacks. With more than 75 million phishing emails being sent every day it's only a matter of time before you receive one. By following the above tips you will protect yourself from many email scams and the possible financial consequences.

About the Author

Lisa Smith makes it easy to increase your online privacy in her newest book, "Internet Safety Tips & Resource Guide. How To Increase Your Online Privacy and Security." To download a free copy and have free internet safety & security articles e-mailed to you every month visit:

Written by: Lisa Smith

Educate Yourself To Amazing Car Finance

When it comes to making a car purchase, paying for it is a big part of the battle. Even mid level new cars run into the $20,000 range. Because of these prices, few people pay cash for cars anymore and statistically about 7 out of every 10 people use car finance to pay for their new vehicle. In order to get the best car finance possible, you need to understand how the whole process work.

First, you want to figure out where you are going to get your car finance. There are a number of institutions that can get you financing. Banks, credit unions, the dealership, or even auto manufacturers can provide financing for your new or used vehicle.

Second, with a car finance, you need to realize that whether you buy a new or used vehicle will affect your financing. As a general rule, interest rates will be lower on new cars than on used ones. Also, new cars can often qualify for financing over a longer period of time than can used cars.

Next, when it comes to our car finance, don't believe everything you see or read. Commercials for special financing for those who are first time buyer or have bad credit abound in papers and on the television. These are usually a little too good to come true and come attached with requirements such as extra high down payments and extremely high interest rates. In some cases, both apply to the loan.

Before you go to get your loan, make sure you know about your own credit history. Get a copy of your credit report and go over it with a fine toothed comb. Look at the score as well as the payment histories on it. If anything at all looks incorrect, make sure you get it cleared up. When a lender looks at how much money to give you, they will check out your debt ratios, how long you have been at your job, your history with similar loans, and your credit report as a whole.

Once you are armed and ready to consider your car finance, shop around. It is usually a good idea to look for the financing before you buy the car. You will better know what you qualify for that way. Also, you can use your information to bargain further with the dealer. In order for them to finance your car, you should ask them to beat the rate you have from wherever else you have looked.

Remember that everything is negotiable. Just because the car finance rate you got is pretty good, it doesn't mean that you have to pay what they ask. Negotiate the rate of your loan, the price of the car, or anything else you can talk to them about. It can't hurt and you could save yourself a lot of money that way. As the process goes on, don't get caught up in the numbers. The dealers will try to give you monthly payment numbers only so that you don't notice any added charges. However, sit down with a calculator and just figure out the payments yourself and you will have nothing to worry about.

Always know that car financing may seem complicated, but it doesn't have to be. Educate yourself, shop around, and make sure you know what is going on and you should have no problem. Better yet, you will find yourself with a great new or pre-owned automobile.

About the author:

If you are interested in additional automotive articles of mine, please feel free to visit my financing website. Thank you for your time!

Written by: Christopehr M Luck

Divorced And Cheated Out Of The Finance-How Smart Divorce Lawyers Are Ruining Women

Lawyers quite often boast of how there is plenty of money to be made from divorce cases. You can be sure that this is no idle lawyer talk, especially when you consider the fact that more and more lawyers are being drawn into this area of legal practice.

But even more interesting and instructive is where all the big divorce money for the lawyers is coming from?

Yep, you guessed right, its' from our pockets, yours and mine. Basically any cash paid to a lawyer, even by your ex-husband depletes the family finances and assets that may have to be sold to settle legal fees. Money that should have otherwise gone to divorced women to help them rebuild their lives with some decent finances after the devastation that usually comes with divorce. Make no mistake about it; lawyers love nasty divorce settlement cases. The nastier they are, the better for them. Lawyers are usually the only true winners in any divorce action.

When they are not helping your ex-husband to hide or understate assets, they will be busy ensuring that by the time the divorce is finally settled, most of the family assets and cash will have gone to paying for their services, sometimes leaving little or nothing for you and your children to rebuild your lives with.

Yet it does not need to be like that. You definitely deserve better. Fortunately, many women are fighting back these days and with lots of success too. It is amazing how much of a difference, taking a few simple precautions can make. Generally these important steps to secure your future have to be taken long before there is any talk of a divorce. Just the way folks take out insurance for a rainy day. You're still happy if you never need to claim on your insurance, but it helps you sleep better at night and gives you peace of mind because you know that if the rainy day, or disaster comes, you are fully prepared.

It really is a jungle out there and many women have realized that it is not a good idea to place your whole financial future in the hands of someone else other than yourself.

About The Author

© 2004-2005 Cathi Adams.

Cathi Adams is the author of "Divorce Secrets: What Every Women Should Know." This invaluable resource provides steps to ensure financial security to woman faced with the possibility of divorce.

Visit her web site for a FREE report - What You Absolutely Must Know Before You Even THINK About Getting A Divorce:

Written by: Cathi Adams

Defrazzle Your Finance

I'm living so far beyond my income that we may almost be said to be living apart.

e.e. cummings

Money. You can't live with it, you can't live without it. No matter how hard you try, there's never enough. The only thing increasing in your bank account is your debt, and you're beyond understanding how to make ends meet. Is that how you feel?

Well, there's no need. Getting on an even footing with finances is hard, but not impossible, when you take small steps. You didn't get there overnight; you won't get out of it overnight. It doesn't have to be painful - in fact, you'll be more successful if you make a game of it.

Here's how to get started: figure out, approximately, how much you spend in a week on "incidentals" - coffee, a magazine, new cosmetics, etc. Just keep your sales slips for in your purse and add them up at the end of the week. This is not grocery money, car payments, etc.; this is just incidentals - things that you can live without if you're desperate!

When you have that amount - say it's $30.00 - take that much out of the bank the following week, and see how much you can have left over at the end of the week. Use ONLY CASH on those incidentals. Whatever is left over goes in an envelope somewhere where you won't spend it.

After a month, see how much you have in your envelope. If it's $20.00, that's yours to spend on yourself as a reward.

Now, take that amount ($20.00), divide it by four ($5.00), and subtract that amount from what you've been spending weekly ($30.00-$5.00= $25.00). Now, start again with the reduced amount.

Once you've gotten to the place where this is getting really uncomfortable, stop, move back to the lowest comfortable figure and stick with that budget. Take half of what's left over from your original spending total (in this case, $30.00/2=$15.00), and apply that to your debt each and every month like clockwork - make it an automatic payment from your account every month - even if it's just two dollars. The rest (in this case the other $15.00) goes in a savings account - also paid automatically. You can then apply the same principle to groceries, or gas, or any other expense that is variable and see how far you can comfortably cut back.

This enables you to save without that "scarcity" mentality that makes you poor in the first place. Because it's a game and because you're trying to see how much you have left over at the end of the month your mindset is not "I can't afford that" (scarcity) but it's now "I could buy that, but I'd rather see how much I can save!" (abundance).

There are great resources out there to help you move even farther ahead. Wonderful programs like "Mvelopes" or Mary Hunt's "Debt-Proof Living" e-zine. The trick, however, is to always start small, and move forward slowly, building habits as you go.

Happy spending!

Darlene Hull

About the author:

Darlene Hull is the creator of the free "Mom-Defrazzler tool" - 52 Tips for Moms to get from Chaos to Calm in One Year and the "Merry Moms" newsletter, a weekly humour e-zine to help moms defrazzle with laughter. You can download this tool and newsletter on her website at .

Written by: Darlene Hull

Deducting Points On Home Refinance

Any points that you pay in the refinancing of your residence are tax deductible over the length of the loan in question. The deduction is allowable only if the residence is your primary home and the new mortgage replaces a previous one and/or is used to improve the residence. To the extent that money is taken out to pay off credit cards and non-residence costs, the points may not be used as a tax deduction.

Big Deductions By Refinancing Twice

If you refinanced your primary residence twice during 2004, you may be in for a very nice surprise. A significant tax deduction can be created when you refinance twice in one year. If you refinance a mortgage, you accelerate the deductible amount of points from the first mortgage and may claim the points from the first mortgage all at once.

As an example, assume that I refinanced my home in January 2004 and paid $3,000 in points. Interest rates continued to drop through 2004 and I then decided to refinance again in August. Because I paid off the original loan with the refinance, I am able to accelerate the value of the points of the January loan.

So, what tax deductions have I created for my 2004 filing period? Initially, I am going to deduct a percentage of the points off of my latest refinance. The deduction will amount to the total amount of points paid divided by the total months of the loan. This will not be a big deduction, but every little bit helps.

In addition to this amount, however, I will also deduct the full $3,000 in points that I paid on my January 2004 refinance! I am able to claim this deduction because I "accelerated" the deductibility of the points by paying of January mortgage with the August refinance.

By refinancing twice, I get a lower interest rate and a healthy tax deduction. Ah, the value of owning a home.

About the Author

Richard Chapo is CEO of Business Tax Recovery - Obtaining tax refunds for small businesses by finding
overlooked tax deductions and credits through a free tax return review.

Written by: Richard A. Chapo