How Real Estate Investors Can Deal With Bad Credit Reports

By Doc Schmyz

Creditors and bankers approve or disapprove loans based on your credit worthiness. In some cases it also will determine your credibility to certain employers or landlords.

A good credit rating allows you to be able to apply for loans and/or credit cards easily. It will also mean that you will have more chances of getting certain jobs that may require a background check. You will be able to pay your bills on time.

Having bad credit reduces the opportunities of these things. You may get approved for a loan or for a credit card but with a higher interest rate. You are considered a "at risk" customer because the creditors are not sure if you will pay your bills on time. If you are trying to apply for an apartment complex the landlords may take a look at your credit score to determine if you will be able to pay your rent and utilities.

These are just some of the many reasons as to why having a good credit score is very important in today's world. However, what do you do if you happen to have a bad credit score? If you have bad credit it is important to fix the problem as soon as you can. Here are several ways to do just that.

First, you must stop your bad credit before it gets worse. So how do you do this? You pay your previous overdue debts as soon as possible.

Next, you can raise your credit score by opening a new savings or checking account. You should also apply for a secured credit card. This secured card will have a lower limit and a higher interest rate however,by paying the monthly credit card bills on time you will be able to see a significant rise in your credit history report.

Follow these steps you will eventually start to see a good credit rating. However, your past credit history will remain on the "books". This does not expire for 5 to 7 years. You must remember that it does take time to raise your credit rating. You must be patient and diligent to see a change.

That is why it is very important to make positive reports for your creditors. They then will pass those on to credit reporting agencies. Remember to pay your loans and credit cards on time in order to get a good credit rating. By doing so you will eventually end up with a good credit score and history. Never miss out on a future financial opportunity when they come your way. - 23218

About the Author:

Doc Schmyz has worked with investors all over the US and Canada. He built a free free website shares Real estate investing information for all over the US. Find Real estate investing information by state

What Are The Most Common Foreclosure Scams

By Doc Schmyz

Home foreclosure is a common problem that people face today. More often than not it starts from one missed payment which the spirals out of control. Before you know it you have missed three or four payments and the mortgage lender or bank wants you to pay everything you owe all at once. When the homeowners realize that they have made a grave mistake they resort to anything they can to get out of a tight situation.

This is when the swindlers and crooks find their way into your mailbox or give you a call. Foreclosure scams are as common as the problem itself. Since homeowners believe that they have no choice they fall for these traps and make their situation much worse than it was before. It is not uncommon for these scams to lead to even greater financial problems then the homeowner faced in the first place.

Scam operators also distribute flyers,advertise online, publish advertisements in the local newspaper, and call homes which are included on the foreclosure list. They call themselves mortgage consultants who offer foreclosure services or advertise with "We buy houses" slogans and signs.

Common scams:

Bankruptcy Foreclosure Scam

This scam operates by promising the homeowner that their house will be saved. In return they will either ask for the homeowner to pay their mortgage directly to them, hand over their deed and pay rent, or obtain refinancing. Of course these crooks never do anything for you...they contact NO ONE on your behalf. They keep all the money and file bankruptcy without your knowledge. Eventually they just skip out on you.

Since the homeowner is not aware that bankruptcy has been filed, they fail to participate in the case. The case is dismissed and the house continues onto foreclosure. Apart from loosing money and your home, you will also have a bankruptcy on your record.

Equity skimming

The scam artist poses as a buyer. They then promise the homeowner to pay the mortgage or given them a sum of money once the property has been sold. The operator then convinces the homeowner to sign over the deed and move out. The homeowner can stay but they have to pay rent. If they opt to move out the operator lets a third party rent the property. The operator does not pay the mortgage and lets the mortgage lender foreclose. and of course they skip town and are never seen/heard from again.

If the house has equity, the operator sells the property and pays off the debt. Then the operator keeps the equity that the homeowner could have had if they sold it. In few cases, the scam operator actually finds a buyer or sells the house. - 23218

About the Author:

Doc Schmyz has invested all over the US and Canada. He built a free free website shares Real estate investing information for all over the US. Find Real estate investing information by state

Another Economic Crisis Is Coming. Are You Prepared?

By Felix B. Hardy

Free Stock tickers are in all places! You watch them in the Finance Section of all major television networks, placed in the top or bottom of the screen. All on line stock trading company has one. The gain of stock tickers are that you get a fast overview of stock prices in a particularly intuitive fashion. And you can easily get your own modified real time stock ticker.

There are various special kinds of stock tickers, each with their own characteristics, but they also share various elements. The most universal features are the company symbol, the value of the company's shares, and the direction in which the stock price is moving.

As mentioned, there are many different ticker software available for your desktop, so you too can have a tape stock ticker running on your computer. Often desktop stock tickers are quite diminutive programs, that does not use a lot of RAM or CPU, so you can continue your work. Frequently the stock tickers can be configured to alarm you if the price of a chosen stock move outside a predefined area or the stock price changes rapidly. The desktop stock ticker can be downloaded from many of the online stock trading companies. Since the tickers often are very diminutive applications, the download and installation is nippy and easy done.

Real Time or Near Real Time?

Many free desktop stock tickers displays the stock prices in "near real-time", meaning that the prices are postponed " quite often 15 to 20 minutes. If you are a customer with an online stock trading company however, you can usually get real-time prices - this is obviously a large help, especially if you are a day trader, who buys and sells frequently the same shares though out the day. In this case you must know the exact price, since you make your money on very small movements. If you are a long term investor the delayed prices are of less importance. - 23218

About the Author:

Prior to buying stock online, make sure to download a desktop stock ticker, as desktop stock tickers are easy to use and gives a great overview.

Money, Banking, Taxation The Infinite Banking Concept And Becoming Your Own Banker

By Tomas McFie

Money is hardly ever considered an asset. Yet you can prove that it is an asset by attempting to live 10 days without using it. Because assets tend to multiply this is an important realization.

Someone once said, "The value of an asset increases exponentially while the value of your labor only increases incrementally."

The return of your money is more important than the rate of return on your money. Those that fail to grasp this concept lose the real value of money by losing the control of their money.

Think about this:

Your paycheck. Where do you deposit it?

A commercial bank or one that you own?

Does your money make you or the Bank the most because of this transaction?

Do not ever think that you can multiply your wealth by dividing it up. Allowing others to have access to your money by placing it on account at their bank, gives that bank control over your money. You automatically become second in command of your money by doing this. When the bank controls your money, you do not and they make money off your money while you pay the fees, the charges and all other costs associated with banking and financial institutions.

You must read the book about the Infinite Banking Concept entitled Becoming Your Own Banker. It will allow you to control and profit from the financial equation which is:

You give up interest you could have earned by paying cash or you lose money by paying someone else interest when you use their money. You lose money regardless.

When you Become Your Own Banker, you recover the cost of interest you pay out when you borrow from your own banking system and pay yourself back. You are now using your own money as an asset and it will multiply. - 23218

About the Author:

Dr. Tom McFie is a professional financial coach and is widely known for helping people recover the money they currentley spend. Don't Make another payment until you have watched his Infinite Banking Video Then Contact him he can help you

Types Of Home Foreclosure

By Doc Schmyz

Your mortgage is the most important bill we have to pay every month. Besides credit card bills, we also have to make sure we don't miss our other monthly payments. When we fail to pay the mortgage; foreclosure happens and we lose our home.

Foreclosure...what exactly is it?

Should you miss a number of payments; your mortgage lender has the right to foreclose on the home by selling or repossessing the property. In most cases these properties are auctioned.

In most cases the usual number of payments that borrowers miss before their house goes into foreclosure is 3 months. In other cases the lender may accelerate the payment to give the borrower a chance to settle his or her debt/catch up on missed payments. They will require the borrower to pay all the missed payments at once.

Lenders have several options on what foreclosure to actually move forward with.

Judicial foreclosure

In this case the lender sues the homeowner. If the owner of the house does not respond to the lawsuit, the lender wins. The property is then put up for auction. Participants will have to compete with the mortgage lenders bid. If no one out bids the mortgage lender he repossesses the house. Otherwise, the deed will go to the highest bidder. This is normally referred to as a "courthouse auction".

Foreclosure by the power of sale

The deed of the house goes directly back to the mortgage lender. The house is then sold by a real estate agent. Proceeds earned from the sale will be used for paying off the amount owed by the former homeowner.

The deficiency judgment is the amount left after the proceeds from the sale cover the mortgage owed by the previous homeowner. The previous homeowner is liable for it.

Strict foreclosure

The court orders the borrower to pay the mortgage in a certain period of time. If the borrower fails the property will go directly back to the mortgage lender without any obligation to sell it.

Judicial and foreclosure by power of sale are the most commonly used methods in United States. Other states use other methods. Strict foreclosure was originally used but is now only utilized by a few states such as Vermont and New Hampshire. - 23218

About the Author:

Doc Schmyz has worked with investors all over the US and Canada. His free website shares Real estate investing information for all over the US. Find Real estate investing information by state