Cash Advances: Avoiding the Threat to Your Finances

If you’ve ever been reduced to digging through the cushions on your couch for enough loose change for a gallon of gas to try to limp through until payday, you may be tempted by those payday advance commercials you see on TV. Before you run down to your neighborhood cash advance store, take the time to learn a little more about these companies – and their fees.

Unlike your parents, cash advance stores won’t loan you money because they love you. They’re in it for the money, not the love. While the fees they charge may seem reasonable, especially if you’re in a financial jam, their fees (when figured as an APR %) can be enough to make Vinnie the loan shark green with envy. Read more

Tags: Credit Repair Help, credit, credit card, financial, loan, money, refinance

Contact The Roseborsky Group To Get A Free, No Obligation Home Refinance Consultation, And Learn How You Could Save A Bundle When You Decide To Refinance Your Home! There's No Fee For The Consultation and No Fee For The Service - Ever!

Debit Card Perks Rival Credit Cards

If the only reason you hold a credit card in your hip pocket or your purse is to capitalize on some of the rewards programs that credit card companies offer their best customers, you may soon be able to cut the ties that bind you.

Increasingly, Visa and MasterCard, the two largest issuers of credit cards in the world, are expanding the range of services they offer to include some of their largest bank customers. They aren’t being entirely altruistic, however. The simple fact of the matter is that customers are growing increasingly hostile about carrying credit card debt or getting slapped with punitive default interest rates for paying another creditor late and getting popped for multiple fees for everything from balance transfers to receiving duplicate statements. Read more

Tags: Credit Repair Help, credit, credit card, credit card debt, credit cards, financial, financial institution, interest rate, interest rates, money, refinance

Q & A With Darrin: Can I Refinance With Little Equity?

Darrin,
I can’t qualify for a conventional refinance loan because I have very little equity in my home – and no cash. Zippo. Zilch. Nada. When I first got my loan my credit was shot because of some stupid money decisions I made when I was “young and dumb”. My credit’s better now. I haven’t missed a payment in the two years I’ve had my mortgage and I’ve got only good stuff on my credit report now. Because of this I’m stuck – 12 % interest rate – and the payments are killing me. What can I do? Read more

Tags: Home Refinance Tips, credit, credit report, equity, interest rate, line of credit, loan, money, mortgage, refinance

Circling the Mortgage Wagons - Hiding from America’s Mortgage Meltdown

The Canadian government is circling the wagons and taking a preemptive strike at some of the risks associated with some lending practices by tightening the rules. If you’re sitting on the fence about whether now is a good time to make the leap into homeownership, you might want to go ahead and jump if your credit is questionable. Here’s the low-down on the new rules Canadians will be playing by as of October 15, 2008: Read more

Tags: Home Refinance Tips, credit, credit score, equity, financial, home equity loan, line of credit, loans, mortgage, refinance

Credit Repair Scams: Firms Solve Their Money Problems by Taking Yours

When your credit stinks you may be tempted by bogus offers to fix your credit problems and help you obtain a major credit card – in one high priced transaction. These companies can take numerous forms – from firms purporting to fix all that ails your credit to companies claiming to help you obtain a major credit card. Here’s how some of them work:

You could be referred to a “900” number with a promise to help you get a major credit card. Instead of a credit card, you might get a stack of credit card applications and a huge charge on your telephone bill for as much as $50 – or more. Read more

Tags: Credit Repair Help

Weekly Q & A: Second Mortgage: How Does It Work?

QUESTION: I want to know about a second mortgage on my home, how does this work?

ANSWER: Hi Dennis, Thanks for your question. It’s a good one. Second mortgages are basically just a loan secured to your house that sits behind the first mortgage. Second mortgages can be financed up to 95% loan-to-value depending on your credit score.

Interest rates set by lenders on second mortgages, are often higher than on the first mortgages. Seconds are usually structured as an additional payment on top of your first mortgage payment. However, sometimes breaking your first mortgage and rolling all of your debt into one payment in lieu of a second mortgage, makes the most sense. This helps control the interest and makes the process a little easier to manage. Your mortgage broker will help you determine which would be most suitable for you.

Hope this helps a little. All the best.
Darrin

Tags: Home Refinance Tips, credit, credit score, debt, interest rate, interest rates, lender, lenders, loan, mortgage, mortgage broker

Refinancing Possible – Even With Bad Credit

Refinancing your existing home loan is possible even if you don’t have pristine credit.  While you may have to pay a premium for the privilege, it is possible.  Here are some steps you can take before you get the ball rolling that can help guarantee that the experience is memorable – and affordable. Read more

Tags: Home Refinance Tips, credit, credit report, financial, lender, lenders, loan, mortgage, mortgage broker, refinance, refinancing

Beware the Pitfalls of Pre-Payment Penalties

Millions of homeowners that have balances on their home mortgages can quote you their interest rate, terms, and in some cases – their outstanding loan balances.  However, when asked if they know how much – or if – they have a pre-payment penalty on their existing mortgage loans; consumers tend to lose their confidence. 

The reason is simple.  Most people don’t have a clue, which is unfortunate, because if refinancing is on your to-do list, this lack of knowledge can cost you thousands of dollars.  Before you refinance you need to find out: Read more

Tags: Home Refinance Tips, interest rate, lender, lenders, loan, loans, mortgage, mortgage loan, refinance, refinancing

How to Improve Your Credit “Story”

Your credit report is the story of your financial life, so if you’re planning on refinancing your home it makes sense that you’d want anyone reading your credit report to have the benefit of reading the whole story – the way you want it told

Fortunately, there are a few little things you can do to improve the appearance of your credit report, increase your credit score, and – in essence – improve the way your story reads.

One of the best things you can do Read more

Tags: Credit Repair Help, ARM, credit, credit report, credit score, financial, loan, refinancing

Retirement for 3

How big a rush are you in to pay off your mortgage loan?  In the “Good Old Days” Canadians would pay off their mortgages, save for retirement, and then retire.  That trend has changed recently.  Just as an increasing number of seasoned citizens are raising their grandchildren or have their adult children living with them, more and more retirees are opting to let their mortgages tag along into retirement.  This disconcerting and alarming trend makes for a fascinating article on the changing psyche of retirees. 

You can read it yourself by heading over to http://www.washingtonpost.com/wp-dyn/content/article/2008/06/14/AR2008061400139_2.html

Tags: Home Refinance Tips, ARM, loan, mortgage, refinance