Monthly Archives: July 2009

Author : Gregg Hall

When you are looking for a bank to work with you on a mortgage, don’t forget to look online When looking online for a bank, you have more options available to you There are many things you need to consider when looking for a bank You will want to find a bank that is willing to work with you

If you have talked to the banks in your area and do not like what you have found out, try looking on the Internet When looking online, you may find a bank that has exactly what you are looking for Just because the bank is not in your town does not mean you can’t work with them This gives you more options when you are looking for a bank because you are not limited to the banks in your area

When you are looking online for a mortgage company, you will need to fill out an application just like at a local bank The difference is that online applications usually get submitted to more than one company This allows you to compare banks with only one application

Online banks may also have more options available to you Sometimes these banks can offer you different kinds of loans than you can find at your local bank Some banks can offer you interest only payments Online banks may also be willing to loan you more money No down payments, or low down payments, or no closing costs may be something else that is available to you

The time it takes to get the information to each other is cut down since you can use the Internet This usually helps cut down on the time it takes to get approved and close on your house Who wouldn’t want to move into their new found house as soon as possible?

Online banks may also be able to give you a better interest rate too Make sure you know what kind of interest rate you will be getting though Working with online banks that offer you more options makes some people leery of their interest rates They wonder how a bank can offer you all these great things without a higher interest rate Just make sure you know what kind of rate you will be getting

Another thing that makes some people leery about working with online banks is the sharing of information When working with online banks you have to give all your information to the bank on the Internet, which makes some people nervous

When looking for a bank make sure you check out all your options You may find the perfect loan for you if you look online

Gregg Hall is an author living in Navarre Florida. Find more about this as well as mortgage Refinance Information at http://www.shop4mortgagerates.com

Syndication Source: Thought Search Articles Continue reading →

Author : Peter Johnson

If you are asking yourself how does foreclosure work, then this article is going to provide you with answers There are only a few steps to the foreclosure process You might consider these steps if you are trying to avoid a foreclosure These steps include things like the default being recorded, reinstatement of the loan, and more

Step 1 – The Bank Records Notice Of Default

The first step of the foreclosure process is when the bank officially records the notice of default This is the first day you miss the payment on your house This usually does not really occur on the first payment but after a few missed payments This depends on the bank and how they do the foreclosure process Some banks begin the foreclosure process after two payments while others begin the process after three or four

Step 2 – Reinstatement Of Loan

The second step to the foreclosure process is the reinstatement of the loan The loan can be reinstated by you This means that just because the foreclosure process has begun does not mean you have lost your house You don’t technically lose your home until the home has sold through an auction If you can come up with the money to pay the missed payments and the late fees then you can reinstate your home loan This is possible to do up until 5 days prior to the sale of the home through an auction

Step 3 – Bank Sets Date Of Foreclosure

The third step of the foreclosure process is that the bank will set a date of foreclosure This is usually 3 months after the notice of default is set or around 90 days The home owner can continue to live in the home until this date No one will come and evict you out of the home before this set date has arrived

The next thing that will happen is that the notice of trustee sale prepared It is also published as public information that the home is up for foreclosure A copy is mailed to you and posted on the home

Step 4 – Selling The House At The Foreclosure Auction

The final step to the foreclosure process is that the house is sold at the foreclosure auction This can go two ways Someone may bid at the auction on the home and the purchase it at a lower price than what you owe on the loan If this is the case then the new owner will immediately have you removed from the home This eviction can happen in less than 24 hours by the sheriff If the home does not sell at the auction then the bank will still own the home The bank may work toward evicting you right away However, banks usually hire a company to take care of the home until they can sell it This could give the home owners a few weeks

Conclusion

So in summary – how does foreclosure work? The ideal time frame for a foreclosure to occur is around 3 months for a bank This is what they would tell you However, the actual time frame for a closure can take from 6 months to a year depending on how long the process takes and if the home sells at the auction If you are going through the foreclosure process you don’t have to move out of the home right away

Wondering how does foreclosure work? Don’t fall victim to foreclosure! Learn unique methods that will help you secure your financial future today.
Please visit:
http://www.homesforeclosurehelp.com

Syndication Source: Thought Search Articles Continue reading →

Author : Dee Power

Every business needs a business plan and a business plan requires goals, objectives and strategies Goals are what you hope to accomplish in the upcoming period of time Goals can be set on a monthly basis, every three months or yearly Some entrepreneurs set major goals for the year and then monthly goals Think of goals as the end destination on a trip If you don’t establish where you’re going you won’t know if you got there Objectives are the benchmarks along the way and strategies are the road map that will guide you to your goals It may seem like extra work to formalize your objectives and strategies but it has three huge advantages

1 Once you’ve finished the tasks for each product you may realize that it’s an impossibility to get everything accomplished in the time frame you’ve assigned You either have to stretch the time frame, eliminate some of the tasks, or eliminate a revenue stream The business plan forces you to be realistic

2 With a business plan you know what you did and if it worked You can increase the activities that worked and start eliminating the efforts that don’t For example: if your business is web related, one of your objectives may be increasing traffic to those websites If backlinks are not increasing your traffic and posting on discussion lists is a major source of traffic, don’t waste time getting backlinks

3 The business plan keeps you on track Think of it as a master plan You know what you have to do every month to achieve your objectives Focus is critical to achievement Comparing your plan results to your actual results can increase productivity

It may help to take your monthly objectives and strategies and keep track of your activities by the week An old fashioned notebook is good You can print out a spreadsheet with the strategies, three hole punch it and then jot down notes for the week You’ll have an easy way to track your progress At the end of the week update the spreadsheet with your notes

Once you’ve finished your goals, objectives, and strategies you can incorporate them into a formal business plan You’ve already established your revenues, you have a good idea of what strategies and tasks need to be accomplished and the expenses that will be necessary

Know where you want to go and how you’re going to get there A business plan can be your roadmap to success

Free business plan format. Dee Power is the author of Business Plan Basics on how to write a business plan and several other nonfiction books, as well as the novel Over Time Money, love, and football: All the important things in life.

Syndication Source: Thought Search Articles Continue reading →

Author : Jan Marie Dore

Trading hours for dollars in your professional service business will never bring you wealth or freedom

How can you make more money and have more time off?

My seven step success plan to enjoy your business more, work less, and boost your bottom line gives you a clear path to follow to get you on the road to financial independence

If you want to start making a lot more money and enjoying more time off, it takes more than a good idea, luck, or hard work Practice the following seven steps every day, and you’ll be well on your way to perpetual prosperity and true enjoyment in your business

Step 1: Develop a Big, Compelling Vision

Create your big vision of what you see is possible for your clients and for the world Dream big about how you can make a difference with your talents Be willing to play a bigger game Write down your vision down and imagine yourself living it Feel the feelings, emotions, and connections as if it were already happening Then, share your vision passionately with others

Step 2: Create a Plan

Develop a simple plan to guide all your actions and a strategy to achieve your vision I encourage all my clients to create a simplified marketing plan that covers all the basics – the who, what, where, when, why and how Be very specific about your objectives, the targets you want to reach, and timelines Reward yourself when you achieve any milestones

Step 3: Shift from the Role of Service Deliverer to Business Owner

Once your professional practice is established and you have all the clients you can handle, you can increase your income while working fewer hours by increasing your rates Then, begin to change your emphasis from being a practitioner to a business owner Determine how you can leverage your time and talents by developing processes, by systematizing, automating, and slowly replacing yourself by delegating The ultimate test that indicates you are a true business owner is that you can step away from your business and have it operate without you

Step 4: Identify Your Top Priorities

Know what your most important action items are to achieve your objectives Have an intention each day for what you want to accomplish Start each day with your number one priority Get ruthless with your time and focus only on those activities that you have identified as important Drop or delegate all the rest Stay focused on your plan and avoid distractions at all costs

Step 5: Pay Very Close Attention to How You Spend Your Time

Notice the tasks you are doing throughout your workday with the intention of keeping your focus on income producing activities Put a dollar figure on your time For example, if your hourly rate is $150, ask yourself as you notice yourself doing any menial tasks or spending too much time checking email, “Is this activity I’m doing right now worth $150 an hour?” Find ways to delegate the lower value tasks and activities that aren’t your strength so that you can focus entirely on what you do best Learn to be ruthless with your time, energy, and focus

Step 6: Identify Everything That Is Holding You Back, and Get It Handled

Make a list of all the things you’re doing that you shouldn’t be doing I call this my ‘not-to do list’ Make a second list of all the things you know you should be doing that you’re not currently doing This would typically be things such as active marketing activities, getting out and connecting with people, giving talks or speaking engagements, hiring support staff, planning for growth, and creating products that complement your services

Now list all the reasons why you’re not currently as successful as you might be, and get those items handled List any beliefs that might be getting in your way Examples could be, “I don’t know enough to be successful”, “Financial success means hard work and no time for me”, or “No one would ever pay me top dollar for what I’m offering” Make your own list Question those assumptions and replace them with the truth about who you really are right now, the strengths you have to offer, and how people would really value you

Step 7: Enroll Support

It’s impossible to achieve a big vision alone Your earnings will be limited if you try to do it all yourself There is lots of free and low cost support available to you, so there is no excuse for not getting help Find a mentor or a business support group Create your own virtual board of directors Start or join mastermind success team Delegate administrative tasks to a bookkeeper, personal assistant, or virtual assistant Hire a business coach

You can make a real difference and have meaning and financial freedom in your professional practice Success is not a matter of working harder, but rather working smarter Follow this seven step success plan to easily double your income and double your time off

Jan Marie Dore teaches women entrepreneurs how to grow their business online and create profitable income streams. Sign up for her savvy and smart marketing tips and receive a 30 page FREE Bonus Workbook and audio Eight Insider Marketing Secrets of Wealthy Women Entrepreneurs by visiting http://www.femalepreneurs.com

Syndication Source: Thought Search Articles Continue reading →

Author : John E Edwards

Mortgages come with a wide variety of options, what do you do? It’s simple Keep the mortgage very simple It will be easy to manage, set goals with (Im not kidding) Often a complex mortgage will slow you down

Rule No one

Always start with the simplest mortgage and slowly add features to the mortgage A standard principle and Interest loan

There are many mortgage features to look at

Offset accounts

Splitting accounts

Fixed or variable

Interest only

Portability

No fees, some fee?

And many more

I always recommend that you contact a mortgage broker when looking at a mortgage and find out what options are available The first thing a mortgage broker will or should ask you to talk about yourself and lifestyle

A mortgage is fitted to the client not the other way around

1) Employed/self employed/ what legal entity, if in a business

2) How much money comes in a month

3) Do you need to hold cash for periods prior to paying

4) What profitability or salary take home do you have

5) Married/single/in between

6) Financial position: pension funds, superannuation funds, investments

7) Financial goals over next 5 to 10 years

What personality are you, do you like details or big picture etc

With that information the mortgage broker can suggest a loan Remember the standard variable loan is good for 90% of the population

Here a few examples of when an complex option in a mortgage may be used

Split in a loan

Multiple accounts,with partners in an investment may split the loans up for each partner Each partner is free to pay off their own portion loan at the speed with which they are comfortable Its easy to keep track and account of who owns the property, rather than with a single account

100% Offset Account

A Person has a business and needs to store money over periods Would they set up a number of 100% offset accounts to keep the money separate? It makes accounting easy and gives the business owner control over then various funds It allows the stored funds to be uses to reducing of the balance of the mortgage and keep the business and personal account separate

Interest only vs Variable

The mortgage owner needs to be able to access all the principle payment When all the principle payments need to come out, an interest only structure would be used If it was a principal and interest loan only the payments above the minimum monthly mortgage payments would be able to be with redrawn from the mortgage

There are countess variations to a mortgage In all cases contact a mortgage broker and ascertain your needs and then move forward But always remember a simple mortgage is a good mortgage

John E Edwards explains how a mortgage is a wealth creation tool, and how to use the mortgage effectively to start creating wealth in your life now. Contact a specialist to get you on the right path now.
Mortgage Solutions or Mortgage Answers

Syndication Source: Thought Search Articles Continue reading →

Author : Ed Staff

If you’ve looked into loan modification as a way to save your house from foreclosure or to help you save some money, then you probably already know that it requires an upfront payment

Whoa now, stop right there! The FTC, FCC, and consumer watchdog groups all warn against accepting any offer that requires you to pay upfront, even if it’s for an offer to do a legitimate service that normally requires payment It’s not so much that you are being asked to pay money, but that you are being asked to pay upfront

Scammers always ask for payment upfront because they never intend to provide you with any valuable service, and that is the exact reason why we’ve been warned for years to be wary of such offers Turns out that many promises to save you from foreclosure and require payment upfront are, indeed, scams

But there are legitimate services offered by legitimate companies wherein it’s the industry standard to require upfront payment Think about the earnest money you put down when you made an offer on your house How about the co-pay you make each time you visit the doctor’s office? Refinancing your mortgage often requires payment before it can be finalized If you aren’t asked to pay during a refinance, it’s usually because they tack the fees onto the end of your new mortgage — which can be worse than paying it upfront because you end up paying interest on a relatively small amount of money for the entire term of your loan

These may not seem like upfront payments because we think “upfront payment” automatically means a scam is going on And your doctor and loan officer aren’t scammers, right?

Loan modification is another service that requires upfront payment, but has raised a few eyebrows from some concerned consumers Because loan modification is sometimes pitched as a method to save your house from foreclosure, it unfortunately often gets lumped in with the “foreclosure rescue” scams

So why, if loan modification is a legitimate service, do companies ask for payment upfront? Well, to start with, take an honest look at your situation Plain and simple, you’re a high-risk client People want to know that you are serious about saving your home before they start the process of opening loan modification negotiations Secondly, loan modification often involves lawyers Lawyers mean retainers Attorney services are another industry where upfront payment is standard But if you’ve never dealt with an attorney before, you might not know that

In the end, loan modification performed by a qualified company or attorney is a legitimate service The real question is whether or not it’s worth it If you’re already behind on your payments, loan modification can make that go away Furthermore, your interest could be lowered, your payment could come down, and you might even end up owing less overall Most people would say it’s worth it, but that’s for you to decide

Federal Loan Modification Law Center, LLP preserves the American Dream of Homeownership by successfully renegotiating loan agreements between homeowners and lenders. Our team of attorneys and real estate experts works closely with lenders to negotiate the best possible loan modification solutions for homeowners who qualify. Ed Staff is a freelance writer.

Syndication Source: Thought Search Articles Continue reading →