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Sunday, November 30, 2008

?Mortgage Foreclosure Solutions: An Honest Guide

By Michael Geoffrey

People who are dealing with the issue of foreclosure are usually in need of some guidance in relation to mortgage foreclosure solutions. These solutions can help you keep your home and limit family problems related to foreclosure.

There are lots of nonsensical, dramatically emotionally ways to deal with foreclosure. For example, you could run screaming down the street. The grand majority of these style solutions, however, are not going to do anything to help you in any real way. In order to keep the bank's loan officers off of your back, you need a strategy that has been better thought out.

Let me just say that blowing up the bank, while assuring you national television coverage, is also not one of the effective or practical mortgage foreclosure solutions that you can turn to. Just when it seems like your options are limited here I come with some of the best advice you will ever get and I am going to give it to you for free. That's right! For free and you can thank me later!

One practical and effective solution to mortgage foreclosure is to use machine gun nests. This might not seem like a real solution, but it can be. Whenever someone comes to home with the intention of serving you with eviction papers, the machine gun nests will encourage them to turn around and leave you alone.

You never load the machine guns, heck you can even use fake machine guns if you want. But intimidation is the basis for fear and you can absolutely use fear as one of your mortgage foreclosure solutions that helps you to keep your home just a little bit longer before they send you off to county jail.

Open Up the Circus

If you have a big back yard, opening up a circus and using the proceeds you earn to pay off your mortgage is another great idea to go with. It is quite a surprise that more people do not use this method to avoid foreclosure. As long as your backyard is about the size of three football fields and you have access to a canvas tent that can house 5,000 guests and the members of a circus, this can work for you.

The next step is getting together the other things you will need for the circus. That means clowns, peanuts, popcorn, and elephants. Once you take care of that, the money will just start rolling in. This will require a bit of work, but it could be what saves you from losing your home. Opening a circus is a great idea because your neighbors are sure to love it and you will love the money you earn.

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Getting A Profit

By Josey

Accountants are responsible for developing three important types of fiscal statements for a business enterprise. The income statement reports the net profit-making actions of the business enterprise and the bottom-line profit or loss for a defined period. The balance sheets describes the fiscal position of the commercial enterprise at a particular point in time, often the last day of the period, and the statement of cash streams reports how much cash was rendered from net profit what the business enterprise did with this money.

Everyone recognizes profit is a good thing. It is what our economic system is founded on. It does not sound like such a tremendous deal. Produce more money than you spend to sell or manufacture products. Naturally nothing's ever really simple, is it? A net profit composition, or net statement first off describes the business enterprise and the period of time that is being summed up in the write up.

You interpret an income statement from the topmost line to the last line. Every step of the income statement accounts the price reduction of a disbursement. The income statement also reports shifts in pluses and financial obligations as well, so that if there is a revenue increase, it's either because there's been an increase in assets or a decrease in a company's liabilities. If there's been an increment in the expense line, it is because there has been either a reduction in pluses or an increase in liabilities.

Net worthy is also pertained to as owners' fairness in the business organization. They are not exactly interchangeable. Net Profit worth conveys the amount of assets less the liabilities. Owners' fairness refers to who owns the assets after the financial obligations are fulfilled.

These transformations in assets and liabilities are significant to owners and executives of a business enterprise because it is their obligation to manage and contain such shifts. Inducing a profit in a business organization involves diverse variable, not just raising the amount of cash that flows through a company, but management of different pluses as well.

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College Financial Aid

By Jimmy Johnson

Congratulations you've made it you're off to college and you're looking at getting your degree and a bright future. Of course one of the main worried for you is the cost of college and how to find the money to pay for all your needs. The average cost for a student choosing a private college can be greater than $100,000. You are looking at providing money for the four years when you may not have much money coming in and a lot of paying out to do. Colleges have got people who can help and advice and there may be some grants available that you can apply for but get financial planning done early, you want to have all the arrangements made by the time your course starts.

Realistically as part of your investment plan you must ask yourself how many scholarships can you gain? Scholarships are the best kind of money in that they are FREE! No repayments means you would be crazy not to put lots of effort into gaining all the scholarships you can. Colleges tend to provide money on two bases. Firstly money according to your needs which is directly related to your parents income and how many of your brothers and sisters will need investment money too. Your investment plan needs to answer two questions here. Will your parents contribute financially (all colleges assume they will)? Will you repay them or is it free money?

The second basis on which colleges contribute to your self-investment is with merit money. Private colleges tend to have much more of this kind of money available because of their more generous sponsors. These people set up scholarships in their names or they add to existing funds that have meaning for them. Sometimes this kind of money can cover more than 50% of your tuition costs. Well worth asking about and working for.

Grant can be found in other places so keep your eyes open and be aware. Charities and local societies may have some funds set aside for people going to college and you may qualify for their help. These type of funding sources may be hard to find and may only give out small sums but even small sums mount up and if they are given without you having to pay back that makes them even more valuable.

Finally, if scholarships and your savings aren't enough to cover your college expenses you'll probably have to apply for a student loan. First, finish the Federal Application for Student Aid (FAFSA) to see which federal loans you qualify for. Someone at your college financial aid office can then advise you what loans would suit you best and even when to start paying them off. Though paying for college can be scary, it's still one of the most worthwhile investments you can make.

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Foreclosure Auctions Invite Home Bargain Hunters

By Michael Geoffrey

Buying a home at a foreclosure auction could be perfect for you if you are interested in purchasing a home for the lowest price possible. The courts will determine the price of foreclosure homes, which is most commonly below the market valued price of the home. If the lending agency that forecloses on the home requests that they do so, the court can use three different appraisals to determine the value of foreclosed property. These appraisals can be appealed by the lender, however.

For several weeks before the foreclosure auction is held, advertisements will be published. Remember that in the majority of states the house must sell for at least two thirds of the appraised value it was given. You should also keep in mind that there are not usually a lot of people trying to find inexpensive homes at foreclosure auctions.

Typically, those in attendance include the lender and maybe an interested buyer or two. In rare cases the sale of the home at foreclosure auctions will spark a great deal of community interest and there are rarely more than two or three bids per house.

Getting Ready to Purchase a Foreclosure Home

The person who wins the bid on a foreclosure home is expected to present 10% of the price that was bid when the auction is over with. That payment can be made by cash, money order, or a certified cashier's check.

Personal checks as well as credit cards are not usually accepted at these auctions. If the winning bidder is unable to produce the required down payment, foreclosure auctions will usually resell the house right then.

Winning bidders are responsible for obtaining mortgage loans for the balance of the foreclosure auctions' price within an established time limit, normally 30 days, and if unable to find appropriate funding, will lose not only their right to buy the house, but also the 10 percent deposit they put down on the house. Most people to buy a house through foreclosure auctions will have their financing in place before placing a bid.

If a home is auctioned a second time due to the winner's inability to secure funding, if it sells for less than the first auction, the first auction winner may be responsible for the difference, as well as losing their 10 percent deposit. It is important to remember that sales through foreclosure auctions are final and the winning bid is considered a contract, promising to make the purchase.

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Credit Card Counseling

By William Blake

There is an appropriate and beneficial time to use a credit card. Sometimes we have an emergency or need to make a purchase right away and simply do not have the cash available. That is the time to use a credit card. At times when we receive the statement we are still not quite ready or able to pay for the purchase. This is even worse for people who find it very difficult to control their credit card spending. For them, they truly dread receiving that statement at the end of the month.

Get Help

There are places that you can turn to for help with your credit cards. You can try a number of things to get your interest rates and payments lowered. Most credit cards have customer services numbers that you can call. When you call these numbers ask if you can get a lower interest rate for your card. They can tell you within minutes if you are eligible for this service or not. This is an easy way to help with your high interest and the climbing balances.

Get Help Online

Other help is available and can be found on line. There are thousands of financial experts out there who can help you with your credit card debt and they can easily be located on line. Sometimes it can be arranged for you to have a live chat with credit counselors that can help you get back on track and better manage your finances. There are also web sites that sell reading material with instructions on how to get out from under debt.

Counselors That Can Help

Credit counseling is also available on the internet or face to face. Credit counselors can evaluate your situation and explain to you where you have gotten off track. Also some are willing to negotiate with your creditors in your behalf to reduce your interest and give you a more manageable payment. Seeking help from credit counselors will help you drastically improve your credit scores.

Credit Counseling for Free

Most of the time credit card counseling is free. There are places that offer this help to the public at little or no cost. You will need to have all of your information ready for them as well as a list of all your creditors and debt amounts. They will find a way that best suits you and help you decrease your debt one step at a time.

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Dispute Experian

By Justin Hutto

To dispute Experian you must compose a dispute letter and mail it to them. Upon receipt of your letter they will investigate the disputed item.

The first step though is to get a copy of your credit report. You can get a free credit report once a year from each credit bureau. I suggest you go to annual credit report, they will provide you with your free copy.

When you have your credit report you must identify what listings are inaccurate or incorrect. These will be the listings that you dispute.

These marks are disputed by writing a dispute letter and sending it to Experian. Upon receipt they will say if your dispute is valid or invalid.

If they find your letter invalid you will receive a letter from them asking for more details about the dispute. You should respond accordingly and provide them with the information.

However if they find your dispute valid they will investigate the mark. During an investigation they will contact the originator of the item and ask them to verify the account, the balance, and the dates on the account.

It has been found that investigations will often result in a listing being removed. This is a result of many businesses being unwilling to spend the resources verifying disputed debts.

A credit repair service can also be hired to remove negative credit from your report. With this option you only need to identify the marks you wish to dispute and the service will do the rest.

The advantage of having a service is in case the listing is verified they have advanced dispute techniques they can use. These include; escalated dispute information requests, debt validation, and creditor direct intervention.

If you have multiple bad credit items you wish to dispute then I suggest hiring a service, in addition they will have no problem getting a valid dispute submitted. However if you only have one or two bad credit items to dispute then you can do it yourself.

You should also know that a dispute letter must be sent to each credit bureau. Failure to do this and the other two major credit bureaus will still show the negative listing even if Experian removed it from your report.

In sum negative items can be removed from your credit report. You do not have to live with the high cost of low credit.

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Saving For a Rainy Day: Your Emergency Fund

By Darren Cason

Financial experts agree that a family's emergency fund should be large enough to pay their expenses for three to six month's worth of living. This means enough money to pay your monthly budget for up to six months. Seems like a lot, and it can be if you have no savings at all, but it's not impossible to save this amount. The first thing you'll need to know is how large your "Rainy Day Fund" needs to be.

So the first step is to figure your monthly expenses: mortgage payment, car payments, insurance, household expense, groceries, and so forth. Include everything. Don't forget your monthly bills like cable television and electric. For the average household in America, this totals to about $3,400.00 per month. Once you know what your number is, you can times it by three and by six to get your three and six month goals. So if yours is the average, three months is $10,200 and six months is $20,400. Big numbers, but you'll see how they can become workable.

What is this emergency fund for and why are you supposed to have it? That's a good question and one that should be answered because it's your incentive for working towards having your six month's of funds available. We live in an uncertain world with uncertain times and economies. You never know if you're going to lose your job tomorrow, need a new roof on your house, or have a disaster happen. Emergencies have a way of showing up when it's most inconvenient. That is what your emergency fund is for.

If you're saving for retirement, then (in a way) you're putting away an emergency fund. Your emergency fund can be as easy to set up and build as your retirement fund is. All you need to do is think about your goal and figure out how you're going to attain it. You'll soon see that saving three or six month's worth of expense money is chump change compared to your fifteen or more years of retirement funds.

So approach the emergency fund like you would any financial goal: think ahead and plan right now. You've already figured out your monthly expenses, so now you need to look at an overall monthly budget. How much do you make in a month and what is the difference between that and your expenses? Most people consume about 65% of their incomes in just housing, food, and transportation. That means you've got about 35% of your income to work with: income that is "discretionary."

Now you have your goals and an idea how you're going to get there. Obviously, that whole 35% number isn't available, but it's your starting point. Consider your savings plan over a 2, 3, and 5 year period and see if you can achieve your three month's emergency savings inside 3 years. Working with our $3,400/month number from before, you'll see that this is only $340.00 per month for two and a half years. That's 10% of your income.

Now for the fun. Over time, you can increase what you're putting into savings by changing some of your lifestyle habits in the long run. For instance, when it comes time to buy a new car, opt for one that's less expensive to purchase or to operate (or both). Find out if refinancing your home mortgage or a debt consolidation procedure would save you money over time. Consider donating time, money, or items to charities to increase your tax savings. And if you are using more than one credit card, check if a balance transfer option would work for you. These are just some of the ways you can increase your savings over time.

If you keep your goal in mind, set up the payments to the emergency fund in the same way you do all other bills, and then work towards your goal diligently, you can have a six month emergency savings before you know it.

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Deciding to use a Quick Pay day Advance

By Clare Colemann

An array of options are accessable when in search of a quick pay day advance.|Quick pay day advances are at hand in all forms and ways when required.

The following paperwork is normally needed in order to secure a quick pay day advance: a valid identification, proof of residency, proof of income, and a recent bank statement to serve as proof of a valid and active bank account.

The information provided should assist you to not only learn how these loans work but also the significance of each of the requirements required If you think that a quick pay day advance might be just what you require to help you with some of your current financial struggle.

You're basically applying for an extremely short-term loan based upon the net amount that you make with an average pay cheque, when you apply for a quick pay day advance. They are simply for individuals who need a little bit of extra help for making ends meet until they get paid again and are not designed to cover major expenses. When applying for a loan in person, you will in some cases have to put down a personal cheque on file with the pay day lender that is post-dated to the date that the loan becomes payable, and made out for the amount of the loan plus the lender's service charges, in swap for the loan.

When making an application for a quick pay day advance, it is very important that you supply proof of identity and proof of residence. This will give the moneylender a way to contact you should they need to, and they will make sure that you're not merely trying to take out a loan on someone else s' chequeing account.

This allows them to be certain that you are who you claim to be and verifies the address that you have on file. Common proof of residence is letters that has been delivered to your home such as utility bills and common proof of identity is a driver's license.

Based upon your income, it's crucial for the pay day advance lender to determine how much it is that you earn on each paycheque, in order for him to establish which loan amount you can borrow on with a quick pay day advance. Keep all your recent paycheque stubs at hand, as you will have to submit them to show the pay day advance lender that you have a constant salary and how much you make as a rule when you get paid. This will accelerate the pay day loan process a bit.

When you took out the loan, you had to leave a predated cheque on file with the pay day lender for the full amount due, by the due date, and also for him to be convinced of the fact that you have a valid chequeing account. Make sure that you go back to the pay day advance lender's office to pick this up, as the loan you took out will be automatically deposited and deducted from your cheque account. Get a statement printed out by the teller at your local bank, indicating the amount deducted from your account, and take it with you when collect your cheque. Show this to the lender as proof that the amount owed was in fact paid back to him, so that he can release your cheque.

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