The Borrower I Want as Reverse Mortgage Expert

By Kablamn Vanrock

As a mortgage professional working only with reverse mortgage customers, I am constantly contacted with a myriad of different scenarios. Some are true potential customers, some should think of other options.

I don't paint a blue sky picture for each of these potential customers. They are owed truthful advice. And to some I advise to go elsewhere.

If I were going to place a ranking on how good the reverse mortgage is for customers I'd say it would be bad, okay, good, and great. People fit into all ranking. Let's talk about great.

Closing costs are expensive for these mortgages. As such I'm very interested to know the time frame a senior plans on residing in the home.

What I'm trying to get at with my customer is if the cost to get the mortgage will be worth it to them. They have to understand that solving their financial issue will have a cost to it. Will the results be worth the costs?

Of all responses i prefer them to say something about being carried out in a box. From a reverse mortgage perspective, from the customer's viewpoint, this is best as the cost to money gets less and less as the lengh of the mortgage extends.

If you ever apply for a reverse mortgage the lender will furnish you with a disclosure detailing how much the loan costs you over time.

The disclosure gives snapshots of the annual cost of the mortgage over various years. You'll see how cost reduces over time.

Along with a long mortgage period the best reverse mortgage customers are those without the ability to add income to a financial situation which is already under water.

Most reverse mortgages are taken out by a customer with a fixed income as described.

And the last is the attitude that the kids are fine and don't need mom and dad leaving as much as possible to them after passing. On top of that, "we have our own lives and we're going to live before we die".

Some people are dead set on leaving as much as possible to the kids. Reverse mortgages rarely sit well with these folks because the interest is constantly working against the equity in the home.

To sum up a great reverse mortgage cadidate, we are looking for an attidute of us first, kids second; static income which isn't enough; and an extending mortgage period hopefully as long as the borrower lives.

About the Author:

In the great state of Texas, reverse mortgage education can be had by going to this link coveringmany questions. Additionally, tons of good stuff covering the texas reverse mortgage can be had by following this link.

Do the Math When Using Reverse Mortgage for Investments

By Diogie Vanrock

I don't suppose I need to tell you that we've lost somewhere around thirty five percent in value in the stock market in one year. Some seniors are now picking up their phone and calling me because of this.

These folks are attempting to use a reverse mortgage to access their home's equity. There are some excellent reasons to use a reverse mortgage. Then again, there are some excellent reasons not to.

Most importantly they must have a desire to stay in their home for an extended period of time. This is vital because the cost to get a reverse mortgage is not conducive for a short term mortgage

As the borrower stays in the home for longer periods the less pricy the loan becomes as we determine the cost of money on an annual percentage.

As some of the these phone calls are losing tons of their hard earned money they are calling to to pull money out of their equity to reinvest in other investments to recoup their losses.

That which is really palatable now is that rates are so low. In particlular the adjustable rate, with a line of credit option, is quity low.

For the week of January 6 to January 12 the rate on the adjustable is well below 4%. If we look at this loan over the last 15 years, it's average is around 6%.

As a loan officer I'm not required to represent my customer's best interests. However, as an ethical person I do my best to discuss the costs as opposed to the return the customer will receive by investing reverse mortgage money.

They cannot expect the low rates to hold up forever and must consider these rates driving up to their average level.

Many in the marketplace are taking the position that rates will be low for some time with so much pressure to keep them low.

When rates are high it is difficult for big business to borrow. This is hardly ever good, especially when the economy is in such bad shape as it is now.

We'll have to see. My concern for some of these people is that some of these folks are not taking into consideration to true cost of getting this money to make their investments.

Whichever investment the borrowers choose should have very good returns to not only beat the interest rate on the money, but the cost of getting the reverse mortgage in the first place.

About the Author:

Get twenty California reverse mortgage questions and answers most people want to know at this site. And this.... Get a guide emailed to you about the California reverse mortgage with five monster pitfalls uncovered as well as 7 myths.

Credit Repair via Credit Counseling

By Rob Kosberg

If you considered repairing your credit yourself, but decided that this was not for you, a credit counseling agency may be your choice. Sometimes you may be feeling so guilty and emotional about your debt and poor money management that you have to get help from someone else.

If you choose to take the professional route, you also need to be very thorough in you investigations of the third party options available to you. The public is bombarded with paper media and online information about credit repair. Beware of a lot of this information. Many of these almost unbelievable claims are just that "unbelievable."

When you first read the claims of some of the agencies, you should be able to tell that the claims are ridiculous, such as: repair credit overnight. While those kinds of claims are fairly obvious, others are not. The internet will have ads for you to have several agencies contact you for help. You provide some information. What you might end up with are some annoying and possible nasty phone calls.

For example, if you contact an agency simply for initial information about their services and costs, and they ask for your information before they will provide answers to your questions. If you are not given the answer to your request for information, stay away from such an agency.

You need to be able to get the basic information about a company such as its services and fees without being asked for any of your financial situation. If you are not provided with this information do not go further with such an agency.

Once you are satisfied with an initial contact, you can ask further questions such as how the procedure will affect your credit reports, how the agency provides assistance with debt management, how does the agency inform you of their activities and does the company offer other money management services.

One of the most important questions to be answered is: what are the agency fees? Some will ask for large amounts of money upfront and large monthly fees. If you can't afford all your debt payments, how will you afford agency fees? Be careful that you don't get into a long, drawn out repayment situation because of charged fees even if the agency claims to be nonprofit.

Your reward for doing all this preliminary searching will be that you will locate an appropriate credit counseling agency to match your needs.

About the Author:

With unprecedented problems in the credit markets it?s more important than ever to have excellent credit. For more information check out Rob Kosbergs' Detailed FREE Guide on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.

How Loan Modification Can Stop Foreclosure and Save Your Home

By Carina McMullen

If you've been struggling to pay your mortgage, like many Americans have in these tough times, there is an answer that doesn't end in foreclosure or losing your home. Many people have been sacrificing everything in an attempt to make their payments and are losing everything in the process.

Loan modification can help you get back on track with your mortgage, by changing payment schedules and even eliminating penalties and fees to make your payments more manageable. If you've been laid off from your job or have lost hours, you need to find a way to keep your home so that your family has a place to live. Even if you just bought something that was more than you could afford, checking out the process of modifying your home loan can be a lifesaver.

Loan modification is a process conducted by a professional company. They contact your bank or lender and work with them to eradicate late fees, set up payment schedules, and get your mortgage back on track. By knowing the inside secrets of the lending industry, these advisors can often get deals and programs for you that you might not be able to find on your own. Using the process of modification can lower interest rates, split up payments, defer payments, and even eliminate fees and penalties that you have accrued as a result of not being able to pay your mortgage on time, or at all.

The loan modification process is NOT a refinancing loan for your home, nor does it transfer the ownership of your loan to another company. Modification advisors simply work with your lender on your behalf to find solutions to your mortgage payments that work for you. You don't have to have good credit or any credit really, because you're not getting a new loan. When you work with a loan modification company, you are simply changing the way that you pay your mortgage loan.

Although many mortgage companies encourage people to contact them directly, you're likely to be turned away or denied certain options that a loan modification company could get for you. As a consumer, the lender looks at you as less informed about the lending industry, and therefore doesn't offer you the deals that they might give to someone who knows more inside secrets. You should never just throw in the towel and let your home get taken from you. You need to check out all of your options, including loan modification, and try to save your home in every way possible first.

About the Author:

Loan Modification has become a method of stopping foreclosure and relieve homeowners of unaffordable mortgage payments. Mortgage Modification may be a great solution for struggling homeowners who owe more on their mortgage than their home is worth.

Your policy will not always cover all the personal possessions

By Rem

It is a sad fact of life that accidents happen and often things are taken from your home but by starting a home insurance plan, personal things you possess can be replaced after events of this nature. If you own your house, you may be offered a joint policy that safeguards both the building and the contents as well although this may not be worth it if you rent where you live.

It is always a good practice to make a list of everything in your household that has any value, doing this on a room by room basis and preferably before you actually take out the home insurance. An simple way to do this is to carry out a walk-through of your house with a camcorder if you have one or a digital camera if not and take pictures of the rooms and the contents. This can be added to your inventory and will provide a full record of your place and things you own. Many people forget to keep there place insurance stock current though and neglect adding new personal possessions to the list as well as taking pictures to attach to that list.

Hundreds of providers now provide their own particular policies online, so before settling on the one you would like to take out, be sure to obtain a few of quotes so that you can compare. One apparent advantage to using online services is that you can have your quote within a matter of seconds.

Insurance providers call the amount they protection as the sum assured and this amount is the most they will pay out on your plan should you make a claim for complete loss through damage, accident or burglary. Luckily, some firms will include the sum insured in their contents quotation automatically. Others nevertheless, will appraise your place and provide cover based on their estimates or request how much cover you would like and then calculate the premiums on your behalf. This situation may also help your special needs as your individual contents worth may be much higher than the general sum assured, in which case you would be under insured.

The limit of protection that your plan covers is called the sum assured and this is the total amount that an insurance insurer will pay out should the contents of your house be lost, stolen or damaged. Many insurance providers work out this sum automatically for you so you do not have to physically assess the cost of a total loss yourself. Others nevertheless, will appraise your place and offer cover based on their estimates or request how much cover you would like and then calculate the premiums on your behalf. In some circumstances this may be a better option if you think that the automatic sum assured amount will not protection the cost of substituting your things you own.

Although the contents of your home may all be important to you, remember your plan will not always cover all of your possessions. Business equipment for instance is not always covered by regular contents insurance. A house owner may also discover that expensive items such as electronic stock and jewelry that are costly to replace are not automatically entered into the house insurance policy so it may be essential to add these items at an extra cost. Before you make your final decision, check all these particulars carefully because they are the house owners responsibility if they are not covered within the plan.

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Also have a look at Home Deals Blog and Save On Home BlogAlso have a look at Bargain Homes and Home Discount Blog

Commence Looking at your Personal Finance and Retirement Planning

By Kenny Jacobs

If you do not have a retirement plan, you better get busy and start one. If you want to retire at a good age, you will need to have money put back, because even if there is still Social Security, it will not be enough to cover all of your needs, at least not for the average person.

There is a way to manage your retirement called a target retirement fund it is becoming quite popular, because so many people are looking to make things easier in their life and with their investments.

There are many types of retirement plans out there like 401Ks, IRAs, a target retirement fund, and these are just a few. Talk to a financial advisor and figure out how much money you will need to save in order to retire and live comfortably during your retirement.

Watch the markets and invest some money towards your retirement, you can find vests amounts of information on the Internet about retirement investing. Read everything you can get your hands on, and then put your toe in the market. Start slow, and then you can add more as you are more comfortable. You can also hire someone to do this for you.

The most important thing is that you realize that you need to start planning for retirement and put the ball in motion. Just as you take care of your personal finances such as savings and your checking account this too needs to be monitored by you. Make sure you are getting the best options on your retirement plan.

There are many things that you must look at and plan for the future, and you do not want to have to struggle for the rest of your life with financial issues if you can plan for it now. It may seem unimportant at this time, but it is more important than you think.

Do not wait until it is too late, talk to a professional financial advisor now, and start planning for the future that you want for yourself. This will be the best financial decision you make for yourself.

About the Author:

If your just buying your first home you'll have to consider the many closing costs. These costs commonly include escrow, title insurance, and a handful of other fees.

Getting Bankruptcy Assistance

By John Peters

The current economy isn't in a good shape, plus the experts are not predicting any good times ahead, most of us have had to take a long hard look at our income and may have to take drastic measures! The fact is that you may very well find yourself in debt and not see a way to settle the debt. Many times, one of the first solutions that should come to mind is bankruptcy. Remember, though, that it is not necessarily as easy as it may seem. When considering bankruptcy, remember that bankruptcy assistanceis something that you need to look in to.

When you are thinking of bankruptcy assistance, keep in mind the idea that bankruptcy is actually not a small issue. There are 6 different chapters of bankruptcy that are delineated under the New Bankruptcy Laws, and though you will usually find that you are in a position to file for a Chapter 7 Bankruptcy or Chapter 13 Bankruptcy, there are still many areas to look at. Unless you have enough bankruptcy assistance on your side, you may fall into a trap of long term payments and be forced to be tied in deeper financial woes; what is worse, and your credit will be trashed too!

If you are confirming with bankruptcy , note that you do not necessarily want to do it on your own. There are people who file without professional help, and in many ways, this is something that they will grow to regret. When you are in a position where you are looking to move forward and to make sure that you are getting the results that you need from your bankruptcy, don't leave it to chance.

When you are able to get professional bankruptcy assistance, you will be in a position to stop and really consider other options. Are you going to be able to get out from under all of your debt free and clear, or did you look at what are the different payment plans? This is something that can mean a great deal when you are looking at filing, and at the end of the day, you will find that many amatuers are not in a favorable position to make these choices by themselves.

Whether you see that bankruptcy assistance is something that needs to happen, or you are still delaying on the idea if bankruptcy is the right choice, you will find that this is not a choice that you want to go through by yourself. Getting a local expert who can make you make the right choices at this pivotal juncture is something that is quite significant, and if you want to make sure that this is the outcome that you don't come to disgruntlement, it is important to find help fast.

Getting good bankruptcy assistance can enable you get through this difficult time and come through it at minimum risk or damage.

About the Author:

Getting Bankrupt is not a nice financial position to look at. If there is a need to go for bankruptcy, perhaps you may want to consider bankruptcy assistance. Do visit our website for more assistance.

IRA 401K

By Herbert Castillo

Planning for retirement is a vital part of life. No one wishes to be dependent on their loved ones for financial support when they are older, and no one wants to work until the day they die.

There are lots of different retirement plans that people use to avoid that. The two we will descuss now are IRA and 401K.

IRA 401K Most all employers offer a 401K fund as part of their package of benefits. They will also often offer incentives for you to contribute to that fund. One popular way of doing that is to match every dollar you contribute for so many years or to a certain total per year. They do this for a couple reasons.

The employer has to have so many dollars on hand for everything in each employee's benefit package. So by offering to match your contributions, they are encouraging you to invest in the 401k fund, and they thus get more on hand dollars to invest and to claim.

Too, they will usually take the funds and invest in either in-house business or market funds. This generates earnings from the money you the worker has contributed. So when you retire they get to pay you back with mostly your money or the earnings from your own money.

IRA stands for Individual Retirement Account. The purpose of these accounts is to make people want to invest in their retirement to kind of take it easy on the social security system. Too many people rely on their 401K and then their company goes under. Then they are left eith no retirement.

Since their are so many types of IRA's, it may be difficult to decide which is the best for your plan. Discuss your retirement goals with a financial advisor and they can help you see which is the right one.

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Find out more about IRA 401K and other retirement plans.

Three Bizarre Reasons You Might Need a Fast $5,000 Signature Loan

By Mark Matthews

It snows a lot where I live, and if it snows too heavily for too long, you might find yourself with a collapsed (or at least seriously damaged) roof. If you're roof starts to fall apart, and it's the middle of winter, a fast $5,000 signature loan might be the only thing that saves your tail.

What other choice might you have - keeping a damaged roof and going through the whole winter freezing and wet? But if you don't have the necessary money for getting the roof back in order, a quick loan could be the only way you'll be warm and dry this January.

Other crazy things could happen to you, too. As early February draws closer, you remember you've promised all your neighborhood buddies that you'll host an amazing part on the day of the Super Bowl. If you don't have the high definition 72" flat screen TV they watched it on last year, you could be faced with the biggest embarrassment of the season.

Your current TV is a party killer for sure, and there's only one solution. You need to have that new high def monster glowing in your living room before the day of the game arrives. If you don't have the money for the TV in your bank account - you're going to need to borrow it.

Last scenario - the one you hope and pray never hits you or your family. You're preparing for the holidays and you get word that your grandmother's sister has passed away. She lives two states away and you have to get your entire family to the funeral.

Those plane tickets are going to cost an arm and a leg - unless you get a bereavement ticket - which you probably won't. You could be staring down the barrel of $1,000 to $3,000 in airfare depending on the size of your family. In these economic times, most people don't have that kind of money sitting in their checking account.

Going into debt is never the ideal scenario - and these three situations are totally undesirable. I'm especially unenthused about you going deep into debt for a massive television you only need for a three hour party.

But the fact is you may have to borrow money under less than ideal circumstances and when that time comes, you need to know your options. Signature loans are probably the only way out if you don't have any cash laying around or room on your credit cards. Just make sure you're smart enough to set up and immediate repayment plan, and your long term goals should be relatively unaffected.

About the Author:

Mark has a passion for educating people about signature loans and knows quite a bit about getting a guaranteed signature loan as well.

Types of Bad Credit Loans

By Trinity Preston

If you have bad credit, you might think that the options for borrowing money are pretty much non-existent. It's true that people with bad credit are considered risky to lend to, but it doesn't mean that there aren't options for borrowing money and rebuilding your credit. There are actually a few common types of bad credit loans that will let you borrow money and start building a better credit score.

Personal loans are probably one of the most common types of bad credit loans. Sometimes referred to as payday loans or guaranteed loans, they are quick and easy to receive. One reason they are so quick is that there isn't a lot of information you need to provide to receive the loan. If you are at least 18 years old, are a citizen of the U.S. and can provide proof of your income, you most likely will qualify for a personal loan.

Personal loans are also called guaranteed loans sometimes. This term probably comes from the fact that they are really fast and easy to get. Almost anyone can qualify, including people with bad credit. The loans usually have a high interest rate since the people borrowing the money are usually considered high risk, but if you need money fast, personal loans can help. In order to qualify, you usually need to be at least 18 years old, provide proof of your steady income, and be a citizen of the United States.

If you plan to attend college, but you think you won't be able to get a loan because you have bad credit, a Federal school loan is still an option. These types of loans are considered bad credit loans because you can qualify for them if you have bad credit or even no credit at all. The government backs the loans making it less risky for lenders to loan to people without a good credit history.

Really, the main advantage to a secured credit card is to help you build your credit. By establishing a card in your name and making your monthly payments on time, you will improve your credit score. So even though secured credit cards don't really make any more money available to you, they are helpful for building a positive credit score which in turn will help you qualify for other loans in the future.

Finally, you might be able to borrow a large amount of money, even if you have bad credit, if you have something you can offer as collateral. Secured loans are issued to people with bad credit because you are required to put up something like your house or car as collateral. So even if you have bad credit, there are still options for you to borrow money and rebuild your credit score.

About the Author:

Trinity helps people to learn about loans, how to find a bad credit loan, and more specifically about personal loans for bad credit.

Consumers Benefit from the FCRA

By Rob Kosberg

The Fair Credit Reporting Act (FCRA) is written as a protection for the consumer and not the credit reporting agencies. Please see www.ftc.gov/s/statutes/fcradoc.pdf for details of this important act.

You will learn that you have a right to see the information all credit reporting agencies have about you. All these credit agencies are in the business of making money and need to show a "profit." The FRCA explains what consumers are entitled to see and consumer rights.

Your credit reports will contain alot of information about your financial history. While much of the information is probably accurate, while some may be a surprise to you. In fact, the reports may have completely false or information that should have been removed.

According to the FTC (Federal Trade Commission) tells us that we can fix any problems with our credit reports ourselves without any help from a possibly disreputable company. According to the FCRA, the only "negative information" that can remain on your credit report is "negative information" that can be proven to be true.

Get your credit reports, compare, mark any entries that you believe are false. If it's negative and true, it has to stay. Then you will make your case for why information is false.

Document all data available to demonstrate that an entry is false and this is proof of an erroneous entry. You will send this to the credit bureaus. They must respond and it is their responsibility to prove all the information is true.

Only you can decide if you will be able to carry out this process on your own behalf. If not, you may consider "Credit Counseling." This also needs to be done very carefully. Avoid those agencies that promise to change your credit almost overnight. It's probably too good to be true. In addition, you may be asked to pay an "upfront" fee and monthly fee. These are also agencies that need to make money. They could be SCAMS.

There are some honest firms and individuals who will legitimately help. Try finding referrals from others to help you find reputable help who will handle your needs in a timely fashion.

About the Author:

With unprecedented problems in the credit markets it?s more important than ever to have excellent credit. For more information check out Rob Kosbergs' Detailed FREE Guide on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.

Take Advantage of the Services of a Credit Repair Agency

By William Blake

Good credit is important and if you have bad credit you know it is necessary to take steps to repair it. This is not always an easy task. It is nice to know that you can avail yourself of the help of a professional. Consumer credit repair services, whether they offer their services free of charge or they require that you pay a fee, can really help you get your credit back on track.

A credit repair service with experience in the field will really be able to help you clear up blemishes on your credit. They will help correct any incorrect statements on your credit. They will also work to see if accurately stated credit problems can be resolved and removed.

Cleaning up a credit report is generally a long process. The process is even longer if the problems have been allowed to persist of a long period of time. That is why it is best to get help from a credit repair service the moment you see your credit slipping. The faster you act the better your chances are to correct the problems on your credit. No matter how long you have had problems or what the problems are, taking immediate action is the key. After that you must have patience as you work through your credit blemishes one at a time.

Everything Costs Money

It is customary for most credit repair agencies to charge a fee for their services of a few hundred dollars. Remember that it is difficult to find free services today. Most services cost money, even when there are no guarantees as to what the outcome will be.

Even the non-profit organizations are going to cost you some money so this is something that you are going to have to be prepared for. There is nothing worse then spending more money then you already have but it is certainly worth a shot if it means that you may be able to get things back in order.

You will want to really shop around when you are looking for just the right consumer credit repair service company to go with. This is because they will all be charging different amounts and you want to go with a company that can give you the services you are in need of without making you go broke.

Fees for credit repair services range from $200.00 to $1,000. With the many agencies out there and the wide range of fees you will need to choose carefully to be sure you use your money wisely and get the end results you desire.

About the Author:

Are you tired of barely keeping up with your credit card payment? Learn how to deal with excessive credit card debt on the Debtopedia website. Get a free copy of my report "Secrets Of Credit Card Debt" at http://www.debtopedia.com

Selling Indianapolis Home

By Ok Kim

Many people when they decide to put their home up for sale will decide that spring is the best time for doing it. This is because they feel that they will be able to show off their home far better to potential buyers. Yet it does not matter whether you are selling an Indianapolis home or a home anywhere in the US there are other factors that may influence when would be the right time to sell.

In this article we look at a few of the factors which can help you to sell your home more quickly and at the best price possible.

1. Ideally it is best to try and sell your home when there are far fewer homes of a similar style and size on the market. This places you in a much stronger position to negotiate with any potential buyer because they will have far less to choose from. Sometimes in situations like these buyers are willing to purchase a home that doesn't fully meet their requirements.

2. If you are thinking of putting your house up for sale when the market is healthy and lots of properties are available do some research beforehand. Take time to see what price houses similar to your own have currently been sold for. It is worth your while also finding out what Indianapolis homes are categorized as a pending sale.

If you know just how many pending sales there are to properties still available you will be able to quickly identify at what speed the market is moving. If for example you find there are far fewer pending sales to properties available the market is moving slowly and it may be wise not to put your property on the market just yet. If you do get it listed at a time like this then it could be quite some considerable time before you begin to get any viewings and any possible offers.

3. Weather can be a big influence when you decide to put your Indianapolis home up for sale. A lot of people choose spring to put their home up for sale as the weather tends to be far better. But have you ever considered putting it on the market later in the year. There are a number of incentives for both you as the seller and the buyer which can increase the chances of your home selling at this time. If you are able to complete the sale of your home by the 31st December then there are certain deductions which you can make to your income tax return the following year.

About the Author:

If you want to sell your Indianapolis Home quickly, please review Indianapolis Home, and Indianapolis Home

Columbus Home

By Won Kim

With the way the real estate market is currently because of the financial situation it has become somewhat of a buyer's market. However, although buying a Columbus home or a home anywhere else has become easier how you do know what is the right price to offer on it.

For you to be able to decide just what price you should be offering on a house that you are thinking of purchasing there are certain things that you need to take into consideration. Below we take a look at just what some of these factors are and which you should help you to come up with an offer price that the seller of the house will see as being fair.

Step 1 - You need to actually look at what properties of a similar style have recently been sold for. There are plenty of places online today that allow you to search out such information. However, you shouldn't just go on the price that the property sold for but look at what other factors contributed to the sale.

Homes that have been well cared for or where improvements have been carried out are generally going to sell for more than those that haven't. Also another factor which can seriously influence the price at which a property is sold is its location. So you need to factor these things in to the offer you make.

Step 2 - As well as looking at what similar properties have been sold for recently look also at what other properties are currently being marketed at. Again you need to factor in any features on each property that have influenced the price that the real estate agent is marketing it at.

Step 3 - If you find a Columbus home that you are keen to put an offer on before doing so get an inspection carried out beforehand. This provides you with the opportunity to identify any issues which may result in you having to spend more on the property in the future. By having such information to hand then you are in a better position to put in an offer that you see as being fair and reasonable.

Step 4 - Look carefully at how long the property has been on the market for. Certainly with the current financial situation house sales have dropped dramatically. So you may find that when it comes to buying a Columbus home or a home anywhere else that the seller is more willing to negotiate on the sales price. This will especially be true if they have been trying to sell the property for quite some considerable time or if they need to sell quickly because of financial problems.

About the Author:

When purchasing Columbus Home, please check out Columbus Home, and Columbus Home

Advanta Credit Card Scam

By John Monderine

I sit at my desk completely frustrated with Advanta. I opened up a business credit card with them 3 years ago and made a purchase of $6500 to help build my business credit for Rapid Recovery Solution, my Collection Agency. I have paid more then the minimum every month, on time. About 3 months ago noticed that my interest rate seemed a little high. No where on my statement did it say the actual interest rate so I called the company. After 10 min or so I get a live rep on the line and they tell me it is 36.1%. Are they kidding, this must be a mistake. I have over a 750 score and never missed a payment. They said they sent me a notice in Aug that they are doing this due to a change in there lending methods. It turns out this is the second time this year they did this. I went from 8.99% in Jan 08 to 18.99 in Feb 08 to 36.1% in Aug 08.

Now, being in the industry for over 10 years I know that I need to watch my credit. I look for charges I didn't make and it is tough to scam me. I have seen it all but this takes the cake. They told me I am now at a high risk for default so that is why they raised my interest rate? That doesn't make any sense. They should lower my rate if they think I will default on my credit card. How will an increase in what you are charging me keep me from defaulting. Luckily, I have the ability to pay off this card today but I want everyone to realize that these companies have you by the short-n-curly's. Watch your statements and lookout for this scam.

FYI, In NY, the maximum interest rate is 30%. They are charging me more then the maximum allowed in my state. I will send a letter to the BBB, the NY Attorney General, the UT Attorney General and the Department of Consumer Affairs.

As a nation we are in deep trouble. If a credit card company can just raise my rate because they feel like it I am positive that 99% of their customers are also paying 36.1%. How many other credit card companies are doing this to innocent people? We need to fight back. I am going to tell as many people as I can.

Unfortunately, there is nothing we can do except payoff the card. I was told I am a high credit risk. I paid the bill in full after I realized the rate was so high and the next month I received another bill for more finance charges for about $255. I paid that bill in full. I just received another bill in the mail for $5.65 and my rate was changed to 37.99%. Another point higher.

Just for cookies and giggles I called again to see why the rate went up again and they said "Sir, you have been classified as a very high credit risk and as a company we can't risk you not paying your bill with us." I said "I just paid my bill in full with your company, I have never had a late payment with your company in three years, I have one mortgage on my house for $290K, 25 years left at a fixed rate of 5.375% and it is worth over $500k and almost zero credit card debt personally. I am in the fastest growing industry right now, CNBC expects the debt collection industry to grow at 25% a year for the next decade. What else would I have to do to receive a better rate?" The extremely rude lady said "Sir, you would need to send a letter to Santa Clause and maybe he can help you out."

The Government should put a maximum rate in place for the next year or so on all credit card debt. If the credit card companies are truly worried about consumers defaulting on their obligations, wouldn't it make more sense to lower the rate so we can continue to make the payments? By raising the rate, it only makes it harder to pay and more likely that a consumer will default. The credit card companies are preying on the weak right now hoping you don't pay so they can pound you with the highest interest rate. When you do default, they now have a higher balance to sell to a collection agency. In my eyes, this is a crime.

The Government doesn't care either. Instead of giving the banks 350 billion dollars, They could have sent $1151.98 to each US citizen to pay towards credit card debt. The banks still get the money but we the people get a little break on our bill. The average family of four would receive $4607.92 to pay off a credit card. They reason that the banks need the money so they can lend money again to us? Are they crazy? All the banks did was raise the interest rates on our cards and pocket the money without ever having to say what the money went towards. No accountability!

Now the geniuses in Washington are considering giving billions to the auto industry so they can produce more shit cars that we can't afford. How about giving the money to everybody with a current auto loan so we can pay for the car we already have. The money would still flow to the banks and auto makers via we the people.

Good luck America, your gonna need a miracle.

I feel better now. I was very upset prior to writing this blog. I hope everybody reading this realizes that if it can happen to me it can happen to anybody.

John Monderine Rapid Recovery Solution, Inc.

About the Author:

John Monderine is the President of Rapid Recovery Solution, Inc. a Debt Collection Agency. If you need help getting your Accounts Receivable collected visit his Collection Agency website for a no obligation free quote.