April 5, 2009 8:04 pm

Six Things To Do Before Buying Your First Home

By Doc Schmyz

Getting into your first house is a scary deal for most of us. terms we dont understand, contracts written in legalese that we cant figure out…and lets not even talk about financing guidlines. Some people wont buy a home just out of the fear of the unknown.

For most people buying a home is the largest financial purchase they will make. If it is your first time be sure to take advantage of all the program information and home buying programs you can.

To prepare, do some research and be fully informed before beginning your search for a home. Here are the six steps you should take before buying:

1) Before you start your house search, think carefully about what it will be like to be a homeowner. For most people, home ownership is an integral part of the American dream and the advantages (tax benefits, sense of home, financial investment) far out weigh any drawbacks.

2) Know your credit. This is the first thing a lender is going to look at. Your FICO score will probably range from 400 on the low end to 850 on the high end…the higher the better. Contact one of the three major credit-reporting agencies to obtain your credit report and make sure it is accurate. If it isn’t, you’ll need to contact the credit agencies to find out how to resolve any issues. You can also work with a credit repair agency, but beware, as there are a lot of scam artists out there, especially online. I would not use anyone unless they were referred to you by someone you trust.

3) Know your finances. A down payment is a big barrier to homeownership. There are, however, many different loans/mortgages out there that offer low down payment options. You should work with a quality mortgage broker or banker to find out what would work best for your situation. And don’t forget the government…a HUD loan is usually a great way to get into your first home also. Again, check with your broker or banker for more specifics.

4) Have your mortgage broker pre-approve you..NOT pre-qualify you. a pre-approval is actually a great out line of what you can spend on the house as well as the intrest rate you will be looking at. The best part is that you have much more leverage when actually shopping. It tells the seller you are already several steps closer to getting them a check from your bank then someone who is “just looking.”

5) Look into down payment assistance programs. While meeting with your mortgage broker or banker, have them look into any down payment assistance programs that may be available. They should have an idea of what would be available to you. There are many programs out there run by counties and cities and other governmental agencies. The trick is to know about them, first, and then to see if you qualify for them.

6) Look into first-time home buyer classes. Many lenders and Realtors offer home buyer education classes. They are usually 2 to 4 hours long and will walk you through the process of applying for a loan, working with a Realtor, making an offer, going to escrow (closing), and various other responsibilities associated with owning your own home. And realize that whoever is putting on the class is will also try and sell you on their services, which is fine, but you are under no obligation to use them.

Follow these six steps and ask questions. Make sure you understand EVERYTHING that they explain to you…if you dont understand something ASK ASK ASK! Good luck. - 23687

About the Author:

Doc Schmyz has invested all over the US and Mexico. His free website shares Real estate investing information for all over the US. Find Real estate investing information by state

April 5, 2009 8:04 pm

Three Killer Methods to Erase Credit Card Debt

By Wilbur J. Jankowitz

Credit card debt is a difficulty for millions of people that just continues to become worse and worse. Here are the top 3 strategies I know to begin to reduce that debt and begin digging yourself out of that hole:

1. Make use of interest-free trials

When looking for a new credit card, find one with an interest-free trail offer. Some offer a year or even more with no interest on balance transfers and new purchases. If your new card offers the latter, use it to make those new purchases - but make sure you put away money to pay off the balance before the trail period is up, and use any money you save on interest to pay off your pre-existing credit card debt.

2. Work to have your present American Express or credit card interest rate reduced

When you have ceased increasing your debt, the proceeding step is to get lower interest rates. Did you know that most Visa card firms will put boost your IR by as much as 100 percent if you so much as make one late payment? Even if payment is only 1 day late, the banks will most likely significantly raise your interest rate. The truly silly part is that these companies seldom report you to credit companies unless you’re a full sixty days late with a payment.

You can quite effortlessly turn this situation advantageous. If you find that your Mastercard company has raised your IR, call or write them, informing them you have another company that is prepared to offer you a lower rate - of course, you continue to have a good credit history. See whether or not they decide to call your bluff - chances are, they will not, as they know there are several lower rates available. This may be an excellent way to save large $ in interest each month without even opening up a new Visa card.

3. Make an application for extra cards

Of course, if your credit card company won’t deal with you, you can actually search for another company offering lower interest credit cards, and open an account with them. Remember, unless you’ve been over 60 days late with a payment, your credit report might well have no marks on it from your old cards. Furthermore, even if you have a less than stellar credit score, there’s a very good chance you can still find a lower rate than you currently have. - 23687

About the Author:

Find out exactly how you can get rid of your credit card debt and other bills for good. Visit debtconquest.com to find out all about do it yourself debt settlement and do it yourself debt negotiation.

April 5, 2009 8:04 pm

Six Things To Do Before Buying Your First Home

By Doc Schmyz

Getting into your first house is a scary deal for most of us. terms we dont understand, contracts written in legalese that we cant figure out…and lets not even talk about financing guidlines. Some people wont buy a home just out of the fear of the unknown.

For most people buying a home is the largest financial purchase they will make. If it is your first time be sure to take advantage of all the program information and home buying programs you can.

To prepare, do some research and be fully informed before beginning your search for a home. Here are the six steps you should take before buying:

1) Before you start your house search, think carefully about what it will be like to be a homeowner. For most people, home ownership is an integral part of the American dream and the advantages (tax benefits, sense of home, financial investment) far out weigh any drawbacks.

2) Know your credit. This is the first thing a lender is going to look at. Your FICO score will probably range from 400 on the low end to 850 on the high end…the higher the better. Contact one of the three major credit-reporting agencies to obtain your credit report and make sure it is accurate. If it isn’t, you’ll need to contact the credit agencies to find out how to resolve any issues. You can also work with a credit repair agency, but beware, as there are a lot of scam artists out there, especially online. I would not use anyone unless they were referred to you by someone you trust.

3) Know your finances. A down payment is a big barrier to homeownership. There are, however, many different loans/mortgages out there that offer low down payment options. You should work with a quality mortgage broker or banker to find out what would work best for your situation. And don’t forget the government…a HUD loan is usually a great way to get into your first home also. Again, check with your broker or banker for more specifics.

4) Have your mortgage broker pre-approve you..NOT pre-qualify you. a pre-approval is actually a great out line of what you can spend on the house as well as the intrest rate you will be looking at. The best part is that you have much more leverage when actually shopping. It tells the seller you are already several steps closer to getting them a check from your bank then someone who is “just looking.”

5) Look into down payment assistance programs. While meeting with your mortgage broker or banker, have them look into any down payment assistance programs that may be available. They should have an idea of what would be available to you. There are many programs out there run by counties and cities and other governmental agencies. The trick is to know about them, first, and then to see if you qualify for them.

6) Look into first-time home buyer classes. Many lenders and Realtors offer home buyer education classes. They are usually 2 to 4 hours long and will walk you through the process of applying for a loan, working with a Realtor, making an offer, going to escrow (closing), and various other responsibilities associated with owning your own home. And realize that whoever is putting on the class is will also try and sell you on their services, which is fine, but you are under no obligation to use them.

Follow these six steps and ask questions. Make sure you understand EVERYTHING that they explain to you…if you dont understand something ASK ASK ASK! Good luck. - 23687

About the Author:

Doc Schmyz has invested all over the US and Mexico. His free website shares Real estate investing information for all over the US. Find Real estate investing information by state

April 5, 2009 8:04 pm

Three Killer Methods to Erase Credit Card Debt

By Wilbur J. Jankowitz

Credit card debt is a difficulty for millions of people that just continues to become worse and worse. Here are the top 3 strategies I know to begin to reduce that debt and begin digging yourself out of that hole:

1. Make use of interest-free trials

When looking for a new credit card, find one with an interest-free trail offer. Some offer a year or even more with no interest on balance transfers and new purchases. If your new card offers the latter, use it to make those new purchases - but make sure you put away money to pay off the balance before the trail period is up, and use any money you save on interest to pay off your pre-existing credit card debt.

2. Work to have your present American Express or credit card interest rate reduced

When you have ceased increasing your debt, the proceeding step is to get lower interest rates. Did you know that most Visa card firms will put boost your IR by as much as 100 percent if you so much as make one late payment? Even if payment is only 1 day late, the banks will most likely significantly raise your interest rate. The truly silly part is that these companies seldom report you to credit companies unless you’re a full sixty days late with a payment.

You can quite effortlessly turn this situation advantageous. If you find that your Mastercard company has raised your IR, call or write them, informing them you have another company that is prepared to offer you a lower rate - of course, you continue to have a good credit history. See whether or not they decide to call your bluff - chances are, they will not, as they know there are several lower rates available. This may be an excellent way to save large $ in interest each month without even opening up a new Visa card.

3. Make an application for extra cards

Of course, if your credit card company won’t deal with you, you can actually search for another company offering lower interest credit cards, and open an account with them. Remember, unless you’ve been over 60 days late with a payment, your credit report might well have no marks on it from your old cards. Furthermore, even if you have a less than stellar credit score, there’s a very good chance you can still find a lower rate than you currently have. - 23687

About the Author:

Find out exactly how you can get rid of your credit card debt and other bills for good. Visit debtconquest.com to find out all about do it yourself debt settlement and do it yourself debt negotiation.