Nothing can be more exciting & terrifying at the same time than buying your 1st home. Everyone talks about all the advantages of buying real estate such as the tax benefits, appreciation etc. But there are some risks involved and the more knowledge you have before you start the process the less vulnerable you will be to those risks. Now that you have decided to take the plunge there are some things you can go to make the experience exciting and...more
Before you give up on the idea that you will never be able to get a home equity loan because of your bad credit, first be sure you can't get one. It may save you a lot of work, and it opens up more possibilities for home purchases and help from real estate agents.You might be surprised to find that there are ways you can get conventional financing, even though you never thought you would be able to. More and more lenders are looking at people...more
Bonding companies look at far more than just owners' personal credit when it comes to contract surety over $100,000. A surety wants to have confidence in their bonded contractors prior to approval. There are numerous different actions a contractor can take to instill confidence in a bonding company. A contractor must be organized and practice restraint when necessary to gain the trust of an underwriter.For most, the best way to run a company in an organized fashion is to hire professionals they can count on to assist in decision making. A bond producer well versed in contract bonding should be a top priority. If your agent is not knowledgeable enough or does not have the markets to fit your company's needs, then there is little other professionals can do to help with your bonding needs. An accountant that understands construction is a must. The business financial statements are the highest weighted item for underwriting a contractor. You can think of them as the underwriter's window into your company. A contractor must walk away if their accountant does not know how to complete financial statements on a percentage of completion basis. A good relationship with a banker is a rather...more
Money spent updating your kitchen rewards you better than money spent on any other upgrades to your home. When it comes to kitchens, buyers continue to demand improvement in efficiency and style, and they love remodeled kitchens and new appliances. Even if you home costs less than the newer homes in your area, buyers view the model homes and hold...more
The yield curve refers to the interest rates on bonds of varying maturity. Normally, we expect the yield on bonds with longer maturities to have a higher yield than those of shorter maturity bonds. Because it is less of a burden to tie up one's money for three months or a year, rather than five years or ten years, investors must be given an...more
Creating abundance is probably the hottest topic across the internet. Whether you're looking to start a business from your home computer or trying to payoff your mortgage in time to retire with comfort, everyone seems interested in how to get more money. There are personal growth and spiritual growth lessons involved in creating wealth that have been oversimplified. Most people have issues around money that cause them to block themselves from actually creating a life of wealth and abundance. A major piece of changing one's self talk is in stating positive affirmations. However, without hard work and a bit of old fashioned elbow grease, affirmations are worthless.First off, let's look at why we even need affirmations. Many of us were taught that money is the root of all evil. The real quote should read, "The love of money is the root of all evil." Yes, greed is the real topic, not the amount of money in one's bank account. For whatever reason the lesson about greed has been taught all wrong and people think that money in and of itself is evil. Money is simply a means for barter, a trade system. I'll trade you a chicken for a new dress. We agree to swap paper money or...more
Women managers, women business owners and other business women must sometimes contend with unenlightened behavior and attitudes from male colleagues. You can either choose to get your dander up each time, which induces stress and health issues that...more
Finding a rent-to-own house is one of the many ways someone with bad or no credit can buy a house. You will often find them called names like lease/options, lease with option to buy, lease purchase, lease 2 purchase, rent with option to buy, rent to...more
You never thought that your home can be worth anything except for living purposes. Yes, a real estate broker would have offered a large sum on this house. But you never planned to sell the house because of an emotional attachment with it.One of the...more
Subprime lenders offer financing for people with low credit scores who don't qualify for a conventional loan. Subprime financing can be offered through traditional mortgage lenders like banks, credit unions, or mortgage lenders. There are also...more
If you have lived in your home for more than two years, it has probably appreciated which means that you have built up equity. What is home equity? Home equity is the difference between the value of your home and the amount of all that you owe on...more
You can still refinance with bad credit, but you will need to shop around. Each refinance application is looked at on an individual basis. So even if you have bad credit, other factors could qualify you for a low interest rate. However, if you don't...more