Increasing Chances for Mortgage Loan the Next Time Around

April 5, 2015 at 2:48 pm

More and more prospective homebuyers are getting interested in entering the market because of the improvement in the economy. However, in this post-recession realm, there are a lot of individuals who wants to file for mortgage that are having a hard time navigating because of a more stricter requirements in applying for homeowner loans or successfully filling for another try after they have been turned down.

According to Mike Sullivan, a director of education for Take Charge America, which is a national nonprofit credit and housing counseling agency that “Many individuals and families are ready to pursue their dreams of homeownership after overcoming financial struggles, but they don’t always have a clear picture of what it takes, or how a mortgage could impact their long-term financial picture.” He also added that “The more knowledge they obtain before entering the lending process, the better.” With that said, more and more people will be considering homeowner loans or any type of loan.

There are different kinds of mortgage available for a lot of eager homebuyers. In UK, banks are offering loans in order to assist those individuals and family who have dream of owning a comfortable dwelling place.

Mr. Sullivan even explains three factors that prospective homebuyers should take into account before getting into any application for mortgage:

  • You Have To Build Your Credit – There are many young people these days that haven’t been to any form of credits aside from student’s loans. In this case, lenders are having a hard time assessing their capabilities to pay back any home loans. Those individuals who belong in this bracket should start building positive credit lines or history. This includes having a good credit record on credit cards, auto loan and signature loan for at least two years before they try to apply for a mortgage loan.
  • You should avoid a “House Poor” Lifestyle – There are a lot of homebuyers that assumes that if they will be approved for a loan, they can afford a house. The lenders approval rate is 31 percent of the gross income for a home payment and around 43 percent for other debt services; it is really easy to own a house you can’t afford. One must keep in mind that mortgage is only a part of the entire financial picture. There are still ongoing costs that need to be considered like the commuting, utilities, landscaping, general home maintenance and HOA fees. In this case, limiting the payment for 28 percent of the gross income and not more than 34 percent in other debts will be a great consideration.
  • You Need to Evaluate Your Cash Flow – One of the reason why a lot of individuals are being turned down in their mortgage loan is their cash flow. The minimum requirement that a borrower needs is a 3-percent down payment and $1,500 for the closing costs. They also need to take moving and ongoing maintenance costs in all accounts including the appliances, utility deposits, curtains, lawn mower and other miscellaneous expenses. According to the general rule, the prospective homebuyers must have at least $10,000 saved before they go for their plan of buying a home.

Two US Firms Agreed To Settle $21 Million Dollars for Deceiving Consumers

January 28, 2015 at 2:36 pm

Two companies whose business is all about online payday lending operating in the US agreed to settle a huge $21 million because of their deceiving lending practices. On Friday, the FTC announced the settlement with MNE Services Inc. and Overland Park, Kan, an AMG Services Inc. based. The authorities said that these two companies were part of the online loan operation; they charged consumers of undisclosed fees. The FTC further said that the entire operation of the companies misled consumers; they told them that a loan of $300 will only be paid back for only $390 but they charged more to the amount of $975. The government expressed that the lenders are operating under these brand names: United Cash, Ameriloan, US Fast Cash, Star Cash Processing and Advantage Cash Services. They did not disclose the accurate interest rates extended to consumers.

The payday loan lenders should disclose the accurate figures in terms of interest rates and other fees. One example of a lending company in UK that promotes responsible lending is the Uncle Buck payday loans LLP. They are aware of the misconceptions about the business, the reason why they work hard to understand their customers’ needs by treating them equally as individuals. This means that they assess every application to evaluate the borrower’s capacity to pay and how he can repay based on his circumstances. Also, they are regulated and authorized by the FCA and committed to follow the Good Practice Customer Charter to offer important protection to every customer availing a short-term loan.

The Sharks People Can Live Without

January 23, 2015 at 2:29 pm

Sharks are not only found in the ocean but also on land. In the corporate world, they are called loan sharks; they do their best to peddle unaffordable loans for those who desperately need money but end up paying more than they borrowed originally. In short, these guys are everywhere to get people. Recently, there was an online petition campaign by the National People’s Action and several public interest groups, this is done to urge the Consumer Financial Protection Bureau in taking decisive and strong action against the predatory payday lenders.

swiftmoney

There are many loan sharks in the US and one of the most famous is W. Allen Jones, he is the CEO of the Check Into Cash who is operating 1,100 payday loan at the same time cashing shops in twenty-nine states. Jones was the pioneer of the payday, started in 1990s by offering short-term loans with a timeframe of only two weeks but the interest rate is equivalent to more than 400%. The company offers safe and convenient loans to help customers spread their buying power as well as help cover unplanned and small expenses. The bottom line is that Jones together with other payday lenders who followed his business is an example of a business model that depends on the customers who become stuck with their loans for a long-term.

The payday industry has brought a disaster to millions of families and communities while owners like Jones became one of the richest persons in Tennessee, clearing an annual $20 million on post taxes by making loans to health care workers, hotel housekeepers and others who are barely make enough money each month. Most of the payday lenders promote their loan process is quick and easy like the swiftmoney. Also, availing loans from them are completely transparent. They claim they do not charge hidden fees and by the time the loan application is approved, an email will notify the borrower stating the loan amount together with a clear description of fees. This is their way of showing that payday lenders are honest and to erase the bad connotation they are loan sharks.

Why Savoury Food Catering is Eco-Friendly?

January 19, 2015 at 9:46 am

Environment-friendly and sustainable practices are very important things that any company should consider. This is what most companies in the industry of catering Vancouver is trying to promote. Savoury Chef Food catering services is one of the advocates of these practices. They follow the general guidelines as to sustainability.

General Guidelines of Sustainability Practices

  • Locally produced: Savoury Chef boasts of utilizing fresh, local products that are sold in Vancouver’s market. Compared to imported food products, locally grown products contain smaller carbon footprint since they only travel in short distance. Aside from that, the company would help support the livelihood of local farmers; which maintains the regional agricultural production of the area.
  • Organic ingredients: One must make use of organic ingredients in order to be considered as a catering company that is an advocate of the environment. Organic farms do not utilize chemical substances that may harm one’s health.
  • Fresh ingredients: Fresh produce is considered to be healthier since they contain nutrients that are readily absorbed by our bodies.
  • Healthy: Food caterers should make sure that they have various healthy choices available; whether the client is books for an event featuring light meals or full meals.
  • Reusable or recyclable dinnerware: The most ideal choice for any event is chinaware or any other reusable dinnerware primarily because it doesn’t impact the environment that much; it is also what most clients prefer. However, when these options are not available or appropriate, your alternative should be providing compostable or recyclable dinnerware.
  • Vegetarian menu: Catering companies should offer vegetarian menus to their clients. This is primarily because vegetables are the healthiest dish one can offer.
  • Produced in accordance with the ethical principles: Staffs employed by Savoury Chef Foods are treated ethically as they do not give unreasonable salaries to provide the services that the client wants.
  • Quality: It is evident from repeat customer reviews and the many clients of Savoury Chef that they serve food that is of quality; both environment-friendly and delicious.

US Financial Firms Raise Most Money in IPOs Since Crisis

January 1, 2015 at 9:57 pm

Managing finances is never a piece of cake. Every now and then, every household faces its own financial problem, and the best way to deal with this is proper budgeting and, most frequently, applying for a loan, especially when there are bills to be paid right on time. Payday loans are very useful when there is a need for quick money just before the payday comes. Good thing there are many banks and lending companies these days where payday loans are offered. However, their services and interest rates may differ from each other. Applying loan in a bank will need much paperwork. But with lending companies, application is made easy.

Have you ever heard of QuickQuid? This is an online lending company offering payday loans with low interest rates and flexible payment options. Unlike other lending companies, this company sees to it that their valued customers get the maximum amount of loan convenient for them. And to show that they put their customers first, they offer multiple payment options so that their customers can choose on the payment option that works for them best. Additionally, fast release of loan is assured. The moment the application is approved, customers will get to hold their money in just a few minutes.

One of the good points of applying for payday loans in lending companies is that it can be done online. All you need to do is to make sure that you have your Internet connection and try filling out the online application form found in the site. Many people are concerned about the approval of the loan, but what many don’t know is that lending companies impose less strict rules than banks.

Payday loans are offered by both banks and lending companies. But if you want no or less hassle, it is advised you take the second option. Quick money can save you from many financial downfalls, so make sure that you know where to find it.

Financial Deepening of the Economy

May 15, 2015 at 11:58 am

At a certain point of our economy, when financial development is experienced, there will also be diminishing returns and increasing costs.

According to a new study conducted by the International Monetary Fund, there is “financial deepening” when there is deeper markets and better access to various financial services that spurs growth of the economy, most especially in evolving markets.

Ratna Sahay, Martin Cihak, and Papa N’Diaye wrote in the study, “Our analysis uncovers evidence of ‘too much finance’ in the sense that beyond a certain level of financial development, the positive effect on economic growth begins to decline, while costs in terms of economic and financial volatility begin to rise.”

Financial Situations in Various Markets

Although a number of evolving markets, such as Ecuador and Gambia, experience financial deepening which affects their economic growth rate; several developed markets, such as the United States of America and Japan, on the other hand, are going on the opposite direction.

Former US Treasury Secretary Tim Geithner cited the concept of financial deepening as partial justification for stabilizing large banking institutions, on the fact that the US needs them in order to benefit from the economic growth in evolving markets.

The study also found that if the strong regulation works, it will blunt the bad impact of “too much finance” or too fast financial growth.

According to Sahay, Cihak, and N’Diaye, “The analysis shows that these tradeoffs can be improved by strong institutions and a sound regulatory and supervisory environment. In other words, regulatory forms can increase the benefits from financial development while reducing the risks.”

The Cost of Volatility

The problem in terms of finance is the quality of economic growth and the fact that over development of the financial sector may lead to crises; thus, it can be very volatile.

We experienced this volatility when the world suffered during the great financial crisis last 2008. This just goes to show that it imposes costs in terms of sup-par growth and large sunk costs from wrongly allocating the capital.

Lower Investment Efficiency

Another interesting finding from the study is that with high levels of financial development, there is also lower efficiency in term of investment.

To put it bluntly, highly developed markets have a huge amount of money that they can put to work; however they tend to do worse job at finding projects to use their capital.

Therefore, it is vital to note the pace of financial deepening in the economy in order to invest your money wisely. While credit may be needed for investment, it is also a smart move to determine the pros and cons of using Sky Blue Credit.

Insurance Firms Ignoring Birth Control Rules of PPACA

May 9, 2015 at 11:55 am

The National Women’s Law Center had reported that Patient Protection and Affordable Care Act (PPACA) is taking things seriously with some insurers that ignore ruling on women’s birth control devices and methods.

According to PPACA rules, women should pay less or even nothing for getting birth control devices and products. Reportedly, the insurers are capping patients for basic birth control measures. Specifically, the law says that they should be given at low cost and even free.

As reported, it is very unfortunate that not all women who would be getting coverage of birth control have accessed and enjoy this important benefit. It is hereby guaranteed by the law that birth control and other gender-related insurance costs have been brought to the court for litigation against employers who claim that birth control is against their religious belief. With this, the courts have found the case of some of the plaintiffs favorable.

It was just last year that this issue on insurers charging low-cost or free birth control devices and methods came into the spotlight. Reportedly, it was also found that insurers were billing patients for the so-called guaranteed birth control checklist items and even disguising charges by putting into inclusion of fees and other services in bundled package bills.

Moreover, the center also found out that the study undertaken by the Guttmacher Institute and published by the journal contraception to be likely at odds. According to the study undertaken, there is a major increase in insurance plans in order to cap the items that are stipulated under the law.

The rules on government offered insurance plans are also ignored and even breached by the insurers just like life insurance plans. Insurance plans are entered into contract between two parties- the insurer and the insured. The only difference is that life insurance is entered into by private individuals and insurers, while the other is that the contract is binding between the government and the insurer wherein the insured and beneficiary is the public.

Tools for Calculating SEO Scores

May 8, 2015 at 11:53 am

Domains with good SEO metrics are very important for businesses to be visible in the online world; this is why it is important to determine one’s SEO score. SEO score is a score given to your website that measures the website’s ability to appear in the results pages of search engines for a specific term. Note, however, that the scoring is not standardized, and there are various services that offer these scores to you according to a set of criteria. In addition, your SEO score will not be the same for each service; thus you might want to try on different sites to have an idea about where your site stands.

Steps in Calculating SEO Scores

  1. Go to the website of Domain Tools and utilize the SEO Text Browser to calculate the SEO score. This tool makes your website as a text document and determines areas where you can enhance and improve in order to have a better SEO ranking. It will also give you a score in order for you to have a measurement that will serve as your comparison for other websites.
  2. Acquire an SEO score through the Website Grader site. The Website Grader will ask you to key in the URL of the website, as well as the domain name of the competitors and the e-mail address. The site will then be able to give an SEO score and tells you the flaws of your website through its performance in the search engine.
  3. You may also use the SEO Score Analyzer that you can find in the SEO Skipper website. This tool evaluates the SEO optimization of your website, scans its contents and see how much of them are original, and gives you calculation of factors, including traffic and the strength for social networking. Aside from that, the site also calculates SEO score according to data points.

Would you Sell or Renovate Your Home?

March 16, 2015 at 8:25 pm

Your house may remain the same throughout the years, but you won’t; you might be single when you first bought the house, and now you have your own family. Whatever the reason may be, you’d probably be wondering whether to sell your house or just renovate it.

There’s actually no correct answer to this. This pretty much depends upon the perspective of the homeowner and the house itself.

Are you going to sell it or renovate? If you are thinking of selling it, but is unsure with making upgrades to increase its market value; you should always bear in mind that renovation doesn’t actually pay off that much.

A professor of finance and real estate in Longwood University of Farmville, Virginia, said, “My wife and I just went through this debate. We didn’t think we would ever be able to recoup the cost of the investment when it came time to sell.”

For some people, on the other hand, their property is their home for keeps. Thus, if you feel like staying where you are for as long as you can, renovation costs shouldn’t matter much to you most especially if you’re still young and you plan to stay for decades there.

Tracie Hovey, a resident of Greencastle, Pennsylvania, and a president of a public relations and advertising firm, said, “We are short one bedroom when all the kids are home.”

homes for sale in Scottsdale, AZ

Furthermore, Hovey said, “When they are all home, it makes getting in and out of the driveway impossible and I often find that I’m moving two cars just to get out of my garage can be irritating for our neighbors. It looks like we’re constantly having a party.”

You can also buy a small property and renovate it; look for homes for sale in Scottsdale, AZ that has a reasonable market value and is easy to renovate. This is actually what Cosmo Marcero, Jr. did.

After two kids, he had an idea of renovating the house of his mother and move there. This, however, is an expensive gamble. His major concern was spending a huge amount of money on improvements.

Marcero said, “They might have become money pits for the sake of creating a living space that may feel very customized to a buyer years down the road.”

So, he ended up leasing his own home, since the market that time wasn’t conducive for selling. He then bought a new house that has a vacant dentist’s office attached.

Always Rejected For A Job Application? This is the Best Time to Reevaluate Your Finances

March 14, 2015 at 8:17 pm

If you are struggling to get a job, there must be a more serious problem associated with it. By the time you exit from the interview, you are very confident of getting the job but again, you failed. If you are struggling to land a job, one of the serious reasons is poor credit history. Credit checks done by employers play a big role of either getting hired or rejected from the job.

Each state has different laws about consumer protection, employers may be allowed to get a credit report for the purpose of employment and this could affect if they want you to be part of the company. Checking credit history is a way to know the applicant more and often, this is an important document to check if the candidates are responsible to pay credit obligations and can manage their finances. In a study conducted by the Society for Human Resources Management, they were able to find out that 47% of employers put a big emphasis about credit background checks everytime they choose job applicants. Many of the credit checks are not just done in the entry-level positions but include hiring top executives.

best credit repair companies

Almost all employers from different business sectors may check your credit report but there are fields that put much emphasis especially those that deal about guarded patents and trade secrets like in the chemical, pharmaceutical and defense industries. Most likely, employers under these industries request credit checks, this is according to Experian. Also, companies under the financial services are more motivated in checking your credit report since the nature of the jobs is all about handling finances and money.

The problem now is if you are desperately looking for a job and you have a low credit score. One of the remedies is to ask professional help from one of the best credit repair companies on how to improve credit score and fulfill financial obligations with your lenders. Once an employer will check credit report, he can see information related to debts and credits like credit cards and auto or student loans. On the other hand, there are information that an employer cannot see, according to Experian, the credit report does not show personal details like the name of spouse or birthdate.

In case you have a poor credit score, there is still hope as there are employers making objective decisions when it comes to hiring employees but since the practice of checking credit score is stronger than before, then, you must clean-up or improve your credit score to have better chances of getting hired at the job you are applying for.

Marketing Automation: Building Relationships and Boosting Sales

January 28, 2015 at 8:41 pm

Marketing automation has become increasingly popular this year among business owners and marketers. If it’s done correctly, marketing automation will provide you with more and better leads, enhanced conversion rates, and improved productivity; all things you’d love to hear in terms of generating new businesses.

So what is marketing automation? Does it mean you’d lose the relationship you have with all your company’s clients?

If the purpose of marketing is to understand the needs of the customers, then marketing automation would fit right in to the bag; this primarily because it uses the insights and knowledge gathered from data in order to personalize and enhance marketing strategies. It makes use of a technology that can track and evaluate consumer behavior at every phase of a customer’s journey and generate marketing tasks in return such as online marketing ads and e-mail marketing.

It can be used for anything; from telling you when the best time is to contact a client to what message would best resonate to them. Aside from that, it will also give you data that you haven’t accessed yet in the past such as what your potential clients would like to read and the keywords customers search for in various search engines. This, therefore, can lead to follow-up communication, sending reminders about deals with lenders and give tasks to the business manager. The list of potentials and opportunities goes a long way.

Lane Becker

Marketing Automation: Building Relationships and Boosting Sales

It’s amazing to see that some broker groups are now using marketing automation already and there are various software providers that provide this strategy now. If your aggregator is utilizing this and you wish to understand this technology well, you can watch live demos that cover everything from tech support to training to data security and the likes. With the increasing cases of identity theft and fraud recently, data security is the most important issue that needs to be focused on.

Though it would seem like a holy grail of business, it also requires careful strategic planning and data gathering. This involves evaluating your current efforts in marketing, understanding what your goals in automation are, and how you will implement the technology. By setting all of these things clear and with enough budget, this will surely help you guide which technology you will buy from the market.

Rather than de-humanizing your relationship with your client and customers, marketing automation will be able to help you move from transactional marketing and leads generation to being able to interact with the people in the most meaningful way at each phase of your journey in the business. This is exactly what Lane Becker, the Co-Founder and President of Get Satisfaction, is trying to promote in the industry. Through the customer engagement community platform, companies will be able to connect with their customers and build relationships in a whole new perspective.

In an age where data is becoming more readily available – with just one touch of our finger tips – and customers expecting more from businesses, being able to stand out from a sea of entrepreneurs by providing content that resonates to the clients will surely help you in boosting your sales.