Wednesday, December 19, 2007

Free Blogs That Are Easy

INteresting, as I have been using Blogger mostly in the past, but I’m looking for alternatives to Blogger and Wordpress. Some free blog service with no advertising would be best.


een doing some research into free blog services. But more than that, I’ve been looking for some blog services that are free And easy to use. Blogger and Wordpress, but I want a free blog service that allows my advertising on it.


I’ll be posting a list of these free blog services in the posts coming up before the new year.

Free Blogs That Are Easy

INteresting, as I have been using Blogger mostly in the past, but I’m looking for alternatives to Blogger and Wordpress. Some free blog service with no advertising would be best.


een doing some research into free blog services. But more than that, I’ve been looking for some blog services that are free And easy to use. Blogger and Wordpress, but I want a free blog service that allows my advertising on it.


I’ll be posting a list of these free blog services in the posts coming up before the new year.

Free Blogs That Are Easy

INteresting, as I have been using Blogger mostly in the past, but I’m looking for alternatives to Blogger and Wordpress. Some free blog service with no advertising would be best.


een doing some research into free blog services. But more than that, I’ve been looking for some blog services that are free And easy to use. Blogger and Wordpress, but I want a free blog service that allows my advertising on it.


I’ll be posting a list of these free blog services in the posts coming up before the new year.

Monday, December 3, 2007

Nordstrom Dresses Still High Quality

There are cheap dresses, and there are expensive dresses. The majority of women in America buy their garments at bargain basements (or so-called)  like Rosses, Target, Walmart, or JcPenny.


Women who have alot more money will opt in buying name brands, and designer brands. Right down the middle we have dresses sold at Nordstrom. Nordstrom sells every possible style you could think of, but they can be a little pricey at times.

Sunday, December 2, 2007

Watstat Site Like Wikipedia

You can see there are allot of other webmasters who are trying to build their own Wiki sites these days. My favorite Wiki platform is DokuWiki, and there are others using exactly the same software as Wikipedia.


A good example is this site, called Watstat. They use the Wikipedia software platform for their site. Interesting to me anyway.


I think Watstat is supposed to mean “What’s That?” Hmmm…

Tuesday, November 13, 2007

Best Place to Buy Good Cheap Hearing Aids

Here is a good site for cheap hearing aids. They have the top ten hearing aids lsited and also the best comparison shopping for hearing aids.

Friday, November 9, 2007

Issuing HELOC Rates in Canada

Canadian HELOC rates have been staying pretty low at the variable home equity loan rate and the fixed HELOC rate. You must shop around a little to ensure you don't get hosed with a bad rate. Found a good article on Canadian HELOC interest rates over at Zulit.com. Goes into depth on HELOC in Canada and what borrowers can expect with a home equity loan. 


HELOC interest rates in Canada are lower than ever as the Loonie rises. As a result, HELOCs are being applied for en masse. Canadian banks, like all American banks, are eager to provide home equity line of credit financing. There is no risk to the banks in Canada, and they make nothing but money with their interest rates. 

Canadian HELOC Rates

Found a good article on Canadian HELOC interest rates over at Zulit.com. Goes into depth on HELOC in Canada and what borrowers can expect with a home equity loan. 


Canadian HELOC rates have been staying pretty low at the variable home equity loan rate and the fixed HELOC rate. You must shop around a little to ensure you don't get hosed with a bad rate.

Saturday, November 3, 2007

WARNING! 3 Day Toontown Trial Download

The 3 day Toontown Trial Download is like an addiction worse than crack (so I read today) 


The kids download the 3 day Toontown trial download last week and it was allot of fun. The kids loved it and so did I. Quite addictive I must say. I now have the kids begging me to subscribe to Disney on a monthly basis.


You can download the 3 day trial for Toontown here. Be careful though. Once the kids get hooked your going to be “on the hook” for a monthly payment if they get it their way. I’ll sign up for a month or two until the kids get bored with it.


Watch out for those nasty “computer screen eyes”, all blurry and bloodshot.


 

Friday, October 12, 2007

Jame Bond Wristwatches

Like this post on wristwatches. Kinda funny in a general sorta way. Another dreamer wishing he could own a fancy watch. Get a life right….


Post Snippet:  


…..One of my all time favorite watches is the original Cartier watch. Don’t think I’ll ever find one I can touch, but it’s still fun dreaming. If I ever get rich I’ve got a long list of expensive watches I want to collect…..


 


 

Thursday, October 11, 2007

Free HyperVRE Templates From Zulit.com

Found this post on Kenny’s site (Money Traffic). He’s always been a big fan Zulit (Terry Zulit).


Story below:


See this free HyperVRE templates page. Clean, crisp template with only a handful of sites using it so far. These free templates are a critical step when using the free HyperVRE site builder.  


Most users of this site will be well aware of HyperVRE, what it’s used for, and how to use it. If you have never see this software in action it’s worth downloading for a free test run. I’ll gaurantee you’ve never built a web site this fast. 


The Terry Zulit blog has a screenshot of Adsense earnings to show his HyperVRE empire in action. This action would be called making money.


Have fun and prosper!!!!!!!!!!


Kenny


 

Clean and Powerful Free HyperVRE Templates

Found this free HyperVRE templates page. Clean, crisp template with only a handful of sites using it so far. These free templates are a critical step when using the free HyperVRE site builder.  


Most users of this site will be well aware of HyperVRE, what it’s used for, and how to use it. If you have never see this software in action it’s worth downloading for a free test run. I’ll gaurantee you’ve never built a web site this fast. 


The Terry Zulit blog has a screenshot of Adsense earnings to show his HyperVRE empire in action. This action would be called making money.


Have fun and prosper!!!!!!!!!!


Kenny


 

Sunday, October 7, 2007

Today's Agenda

Well, I have to be off quick today. I’m shopping for hearing aids as it has become very apparent that I’m as deaf as a post. My family has enough of my denial, so now it’s time to start looking like a geek! I’ve been told we can use a bluetooth device now. I’ll look into that.  

Monday, October 1, 2007

Best Future Google Page Rank Tool Online

The best futurle Google page rank (PR) tool I could find on the Internet. Terry Zulit is spot on in my opinion as far a future Google PR tool goes.


You can also copy/paste code the so you can have this same cool Google PR checker on your own site.


COPY/PASTE CODE BELOW TO HAVE GOOGLE PR TOOL ON YOUR SITE


<form target="pageframe" method="post" action="http://www.iwebtool.com/tool/tools/  pagerank_prediction/pagerank_prediction.php" onsubmit="return validate(this);" name="pageform">
<table border="0" width="100%" style="border-collapse: collapse">
<tr>
<td height="91" width="956" vAlign="top">
<table width="100%" height="76" style="border-collapse: collapse" class="tooltop">
<tr>
<td>
<table border="0" width="100%" cellSpacing="5" style="border-collapse: collapse">
<tr>
<td colSpan="4" vAlign="top"><font size="1" color="#ffffff"><span style="font-weight: 700; background-color: #a60000"><font face="Verdana">PLEASE NOTE</font>: </span></font><font size="1" style="font-family: Verdana, Arial">This tool will provide an estimation of the future PageRank and should not be considered precise.</font></td>
</tr>
<tr>
<td colSpan="4" vAlign="top"></td>
</tr>
<tr>
<td colSpan="4" vAlign="top"><strong><font size="2">Your domain(s): </font></strong><font size="1">Enter each address on a new line (Maximum 10)</font></td>
</tr>
<tr>
<td colSpan="3" vAlign="top"><textarea rows="11" name="domain" style="width: 100%"></textarea></td>
</tr>
</table>
</td>
</tr>
</table>
</td>
</tr>
</table>
</form>




 

Sunday, September 23, 2007

Way Too Drunk To Walk

Found this video on Drunkation.com. Try, try again. This drunk man is having a really tough time getting up and getting on his way.


You can see the video here…

Saturday, September 22, 2007

Plumbing Disaster

So we replaced all the carpet in our basement suite last month. Looked great and we even re-painted the room. Just in time for my parent’s visit 2 weeks later. I looked at the job with great pride knowing I did it all myself.


All good until I decided I should replace our old water softener system with a brand new water softener system. Our water softener is an ancient old system that was leaking and had chemical damage through the core.


I disconnected the hoses, turned off the water, and got ready to take it apart and chuck it out. All fine. I took great attention to cleaning up all the lines, hoses, connections etc. After I had it all installed I filled it with softener salt, and turned on the taps.


I let my wife know that is was all going fine, and she thanked me with great affection. We went out shopping and went to Canadian Tire for some more household improvement “stuff”. When I went walking past the hard-ware aisle, and passed by some water hoses. I gasped, and ran back to my wife in the gardening section.


We got home as soon as we could. I ran downstairs and the damage was done. There was water everywhere. The spare room was COMPLETELY flooded and the new carpet was under water. The water softener was bone dry and the floor was soaked. What a huge MESS!!!


Took two weeks to dry everything, but the carpet is pretty well ruined. Lesson learned and a price of an education. 

Monday, September 17, 2007

Google Stock Overpriced or Inflated?

Google-stock-inflated-overpricedThere has been some recent noise regarding Google’s stock price, and earnings. Some say that Google’s stock is overpriced and others say that their stock is simply inflated. Some very respected stock market, and business analysts have added to the Internet noise. (read Geoff Colvin’s article, Don’t Go Ga-Ga for Google


The byline for the article was; “The business is a dynamo. The stock is a pipe dream, says Fortune's Geoff Colvin”. These are big words, and in retrospect the wrong words. Read one.



One of Colvin’s most interesting quotes, as far a I’m concerned is:


Of course, any company's wealth creation rises and falls with its stock price, which raises a huge question in evaluating Google's achievement: Is today's price sustainable? I must report that there's just no way it is.”


The article above was dated July 24th, 2007, and the today’s date is September 17th, 2007. In the article Mr. Colvin suggested that Google’s stock price is indeed overpriced, at the same time he goes on to point out these stock facts:


Google's figure is $149 billion and rising fast, pushing the company past most of America's biggest, most successful, most respected corporations. With Google (Charts, Fortune 500) at its recent record stock price of over $500, only three companies have created more wealth: General Electric (Charts, Fortune 500), Exxon Mobil (Charts, Fortune 500) and Microsoft (Charts, Fortune 500).


According to Yahoo! Finance Google’s stock price is presently at $525 per share, which is higher than the date of Colvin’s article. So where is the rapid correction in Google’s so-called inflated stock? I’ll tell you where…NO WHERE TO BE FOUND. Why you ask?


To fully understand the staying power of Google’s wealth and their business model, you need to be intimate with the bread and butter of their business. Paid Search Inclusion, or Adwords. I am intimate with Adwords and this is why I believe Colvin’s theory is way down the road.  


I live in a city that just hit it’s one million mark for population (Calgary, Alberta), and I’ve been doing business for some local companies, in which I use PPC advertising to promote their businesses. The level of competition I have from other companies in town is next to nothing. The simple fact is that only a scant number of companies (percentage wise) have been introduced to pay-per-click advertising via the Internet, and thousands of companies a month are rushing to their local SEO companies to sign-up for Adwords, and start spending mo-money.  


The saturation level that Colvin is suggesting for Google’s earning ceiling and inevitable decline in stock price makes sense for a bricks & mortar company, that requires great investment to increase their customer base. In the Internet world you grow a business at a breathtaking rate, and there is no need for a large investment.


I believe that Google’s stock is going hit a ceiling someday, but it won’t be anytime in the near future. Their growth is just beginning, as the percentage of companies still using standard advertising methods, and not Google PPC advertising is between 85–90%. Google Adwords is still a strange word to the overwhelming majority of businesses around the world. There is room for growth.


All the records of the past will one day be broken. Sports professionals break old records every year, and Google has already proved their model is one of the most powerful (if not THE most powerful) business model since the dawn of post industrial revolution business.


But then again…….what do I know?           


         

Thursday, September 13, 2007

How To Choose Rifle Scopes Online


How To Choose Rifle Scopes Online 


The task of choosing a new rifle scope isn't the easiest thing in the whole world. Over the last few years there have been so many new scopes released to the market it can make choosing a new one very, very tough. Each new scope claims to be superior to all other scopes in terms of precision and accuracy. On top of that a good rifle scope doesn't come cheap - many of them are several hundred dollars. Just remember a high price tag does not always equal a high quality scope. There are some simple tips you can follow to avoid being taken for a ride when buying your new scope.


AdvertisingBushnell Elite 4200 6 24x50 30mm Rifle Scope


Always be on the lookout for slick advertising when it comes to making a purchase. That glossy cover photo on the magazine says nothing about the actual product itself. Always read the fine print in the sales material before making any decision. Watch for accurate comparisons when you're reading any scope reviews or scope tests. Just like you can’t compare an apple with an orange and get an accurate comparison you definitely can’t compare a 32mm objective lens scope with a 50mm variable power scope and get an accurate idea of whether one is necessarily better than the other. Look for scopes that are comparably reviewed based on price, objective size, intended use and power range - these are critical factors.


Advertising – Mid-Grade Rifle Scopes


A key item on any scope shopping list should be the warranty itself. Never assume that all warranties are created equal - this is so very far from the truth. Most scopes come with what's called a limited life warranty but make absolutely certain that you know exactly what is covered by this type of warranty in case something does go wrong (which eventually it will). Also check exactly how long the warranty is and whether or not you need to be the original scope owner in order to be covered by the scope warranty itself.


Advertising – Compare Rifle Scopes


It's also worth paying attention to the amount of internal adjustment that a scope can offer. Most people don't think about this until after the purchase and are then disappointed. Also look at the type of rifle you're going to fit the scope to. For example, if your rifle is particularly hard to mount, you may find yourself in a situation in which you don’t have nearly the amount of range that you thought you did. When you’re not able to mount the scope straight on, you lose a lot of range. Look for scopes that provide a wealth of adjustment, preferably at least 60 inches or more.


Advertising – Night Vision Rifle Scopes In The UK


Last but not least don't forget to seriously consider the actual assembly of the scope body itself. Bear in mind that your scope is most likely going to be subjected to rough treatment on a regular basis. Taking the time to take this into consideration now will serve you well and save you money later on.








If you want your rifle to be truly complete then look for tactical rifle scopes online for great deals. You can find more information on rifle scopes and discount rifle scopes @ ScopesGuide dot com.

Wednesday, September 12, 2007

Jewel Thief Has Really Bad Day

I laughed my ass off when I read this story. It’s great to see a thief have a really bad day for a change. Gutsy young men with a story to tell for the rest of their life.


This summer my wife and I went on holidays to Alaska. Took our brand new RV for a test run and all was well. About two weeks into the trip we got a call from our daughter with some bad news. Our house had been broken in to, and we had been robbed. Of course that put a damper on things for a few days, but the police were on it, and we knew our home insurance would cover the loss. The only thing we were sad about was my wife’s engagement ring, and my expensive antique wrist watch collection.


The engagement ring was priceless to us, and the watch collection would be impossible to replace. I asked my son to run down to the pawn shops and take a quick look around to see if he could spot some of my watches or his mom’s engagement ring under glass. He did this, being the good son that he is.


Two days later I got a surprise phone call from my daughter Julie saying that my son Matt had some surprising news. He had been cruising the pawn shops looking for our jewellery, when he actually spotted a young woman wearing an exotic engagement ring similar to his Mom’s (it’s a very special engagement ring, with an extremely setting, and band)


He saw her sitting in a car in front of a local pawn shop. He’s a pretty smooth operator, so he asked her for a light on his cigarette, and started chatting with her. As he was talking to her he took a good look at the ring to make sure he was certain it was my wife’s ring. As he was doing that he looked in the back seat and noticed a bag as well. He assumed the bag was likely to have other hot items in it. 


Not knowing what to do he just kept the conversation very short, and thanked her for the light of his cigarette. Just as he was leaving, the girl in the car was waved into the pawn shop by a guy in the doorway. She got up and ran inside. My son, who was by now 40 feet down the sidewalk, doubled back to see if she remembered to lock her door. She didn’t.


Matt opened the car door, quickly opened the bag, and saw various items, and he recognized some of my antique watches in the bag. He especially noticed my display box, and now he knew that was his mother’s engagement ring on the girl’s finger. He grabbed the bag, and ducked away. Then it gets better.


Matt walked back to his car, and drove around the block. He parked again where he could see the car which now had the girl and guy sitting in it having an “animated discussion”. It was obvious that they were distressed about the missing bag of goodies from their back-seat. Eventually they drove away, and Matt followed them.


They drove about 7 miles to the other side of town, and Matt kept his distance. They pulled into a driveway, and got out of the car. They were still arguing loudly, as Matt watched on from down the road. By this time Matt had called a few of his friends to tell him about his adventure. They cooked up a scheme, whereby his friends would back their truck into the thieves driveway like they were just using their driveway to turn around. They would lightly bump into their car, and then be the good citizens and go to their door to let them know of the small fender bender. Sounds clever right.


Within minutes Matt’s three buddies showed up with their beat up pickup truck that one of them used for work. They backed the truck up into the driveway as planned, but they were a little too heavy on the gas pedal. They completely caved in the back-end of the small compact car. The impact made enough noise to bring the unfortunate thieves running out of the house. The guy came first, and the girl came after. The fella was losing it – swearing at the top of his lungs, and at one point said,


“This day couldn’t get any worse!!!!”  


Matt’s friends continued to play along with the story, that they were just using their driveway to turn around in. They apologized and asked to trade information for insurance, but for some reason the thieves didn’t want anything to do with the police, or insurance companies.


As the guy thief became very angry, Matt’s friends began to get annoyed with his level of obnoxious noise. They grabbed him, forced him to the ground, took his wallet, his keys, and his cell phone. The girl came after the boys, one of them took her arm and twisted it behind her back. While they had her arm behind her back, they ripped off the engagement ring from her finger taking some skin with it in the process. By the time the boys were done with our unfortunate thieves, they with pretty banged up and upset. They ran back in their house while at the same time screaming out profanities, and threats of revenge.


The boys jumped in the truck, slammed it into reverse, and finished caving in their car a few more times. They drove off and met Matt and our daughter at her apartment. She took all of my watches, and my wife’s engagement ring (after removing the skin from it….yecchhh) and put it back in our house. 


Matt, and his two friends went to the ball-game that night and had a great time re-living the exciting events. Laughter was abundant, but I was not happy to hear that they had even approached these unfortunate thieves. A simple license plate number and address would have sufficed.


Anyway, we got our stuff back, and couple of young thieves had a REALLY bad day.     


Kenneth Johnson
Calgary, Alberta
Canada


P.S. – the police contacted us a couple of weeks later to let us know that they had no news regarding our stolen property. I told the police that we were not worried about it any longer, and we told the insurance company that our stuff was just cheap and replaceable. We have not recieved a check from them yet.   


 

Tuesday, September 11, 2007

Welcome to WFS Financial

WFS Financial products and services are becoming very popular due to their customer service quality. Here is a little blurb on their corporate mission.


Wachovia Dealer Services, Inc., the sixth-largest auto finance company in the nation, is a subsidiary of Wachovia Bank, N.A. In addition, Wachovia Dealer Services is the number one used car lender in the nation. With 48 regional offices serving 46 states across the country, we provide a broad credit spectrum of lending to the auto, RV and marine industries. Commercial, real estate and floorplan financing and an array of banking services are available to dealers through Wachovia Bank. We also offer competitive refinancing programs directly to consumers.


Wachovia Dealer Services has established relationships with over 14,000 auto, RV and marine dealers, a consumer loan portfolio of $22.8 billion and a commercial loan portfolio of $4.1 billion through Wachovia Bank.


At Wachovia Dealer Services we are committed to exceptional service. If you have any questions, please call us at 800-289-8004. Personal service is available to you Monday through Friday, from 5 a.m. to 7 p.m. PT.


You can use the phone number for contact. It’s the latest number we’ve been able to find as of this writing.  


 


 


 


 

WFS Financial Products & Services

We’ve been seeing allot of information these days for WF Financial products and services. Becoming very popular due to their customer service quality. Here is a little blurb on their corporate mission.


Wachovia Dealer Services, Inc., the sixth-largest auto finance company in the nation, is a subsidiary of Wachovia Bank, N.A. In addition, Wachovia Dealer Services is the number one used car lender in the nation. With 48 regional offices serving 46 states across the country, we provide a broad credit spectrum of lending to the auto, RV and marine industries. Commercial, real estate and floorplan financing and an array of banking services are available to dealers through Wachovia Bank. We also offer competitive refinancing programs directly to consumers.


Wachovia Dealer Services has established relationships with over 14,000 auto, RV and marine dealers, a consumer loan portfolio of $22.8 billion and a commercial loan portfolio of $4.1 billion through Wachovia Bank.


At Wachovia Dealer Services we are committed to exceptional service. If you have any questions, please call us at 800-289-8004. Personal service is available to you Monday through Friday, from 5 a.m. to 7 p.m. PT.


You can use the phone number for contact. It’s the latest number we’ve been able to find as of this writing.  


 


 


 


 

Friday, August 3, 2007

Bad Credit Auto Loan Research (online)

RedcarloansBad credit auto loans are hunted for online more than any other kind of bad credit loan. Due to the fact that owning a reliable vehicle is paramount many Americans need bad credit auto loans. If you or someone you know has ever experienced bad credit or bankruptcy you understand the frustration of trying to acquire reasonable financing.


 As the creditors and lenders in the United States begin to compete even more aggressively they are opening doors for people with bad credit. We have been online for some time now and pride ourselves on providing solid information to our visitors.


Being a writer for www.lazerloan.com has forced me to research bad credit auto loans online and contact banks via phone. I have implemented my own methodology sift through the online finance businesses one by one. What I found was a handful of time tested merchants who come across with the funds more than their competitors.


Key to us recommending the lender, (credibility given), is their web site has to have a quick and painless form to fill out. The shorter the better. I use a program called roboform for all my form filling tasks. Do a search on Google for Roboform and you'll find it straight away.


Bad credit auto loans permeate the landscape of online finance but this does not mean off-line. Most borrowers look at their hometown bricks and mortar banks and car dealers first. If they can't get help from these people then they hit the online world for their bad credit auto financing.

Sunday, July 22, 2007

What Most Health Insurance Companies Claim

InsuranceHealth insurance premiums are filed with, and regulated by your State’s Department of Insurance. Whether you buy from a local health insurance agency, or directly from the health insurance company, you'll pay the same monthly premium for the same plan.


This means that you get the advantages and convenience of purchasing your health insurance plan through pretty well any health insurance company and know that you're getting the best available deal.


By combining the knowledge of a neighborhood agent with the broad experience and comprehensive understanding of a leading online health insurance source, most health insurance companies are able to offer their customers the following benefits.


Best Prices. Health insurance rates are filed with and regulated by your state's Department of Insurance. Whether you buy from your local agent, or directly from the health insurance company, you'll pay the same monthly premium for the same plan.


Large Selection. Because most health insurance agencies offer plans from multiple insurance companies in your area, they can offer a broad selection of health insurance companies and plans, which allows you find the plan that best fits your needs. In fact, most health insurance companies can provide a quality online source of health insurance for individuals, families and small businesses.


Excellent Customer Care. The licensed health insurance agents and experienced representatives that staff most customer care centers will help you make the most of your money with professional, unbiased advice.


Fast Processing. Most health insurance companies offer the fastest way to apply for health insurance because many of the plans offered on their web sites can be submitted and signed electronically, eliminating the need to manually print and mail applications. This reduces average processing time significantly.

Thursday, July 19, 2007

Pro Travel Network Advantages

Here is a quick post on the advantages of working with the Pro Travel Network.


1st advantage of being a Pro Travel Network member: You get to set your own hours and work out of your home. No boss, no alarm clocks, no hassles.


2nd advantage of being a Pro Travel Network member: You get to travel like the pros with all the perks and discount travel fares. You get to take fam trips because you are a Pro Travel Network Agent.


3rd advantage of being a Pro Travel Network member: You are self-employed so you get to write-off any travel expenses you have, a portion of your bills, your mortgage or rent, or almost anything under the sun 


4th advantage of being a Pro Travel Network member: You have no cap, or limit, to how much money you can make. You can make ALLOT of money with PTN, and the sky really is the limit.  


5th advantage of being a Pro Travel Network member: Your Pro Travel Network is EASY to grow quickly as the benefits are easy for people to see. Creating a team is not a problem becuase it’s still a new revelolution in the travel industry.


See the Pro Travel Network Blog (PTN FREEDOM) for more information. 

Sunday, July 15, 2007

MyFSA Web Site for Student Loans

Found this post regarding the MyFSA, and thought would be a good addition to the Just Money Honey quest of good financial information for good Americans. ;-)    


BadcreditstudentloansIf you require some good information on the student loan business, and how you can better yourself, we highly recommend checking out the MyFSA web site. You will find EXCELLENT content, and great advice before you decided to venture in the direction of procuring a student loan. Below is some excerpts and links from the MyFSA web site.  


There is information there if you are looking for a basic good credit student loan, as well as, great information on getting fast bad credit student loans


What is MyFSA?


MyFSA is your personal portfolio. When you create your account, we will provide you with a MyFSA account in which to store all your information.


How do I access MyFSA?


You can access your individual MyFSA account at anytime by simply logging on with your user-name and password. You will only have access to MyFSA if you create an account. The reason for this is the information you enter is highly confidential and must be password-protected. Once you create your account you will automatically have your own MyFSA account and anytime you return to this site you will be able to access it with your user name and password.


How do I use MyFSA?


To access MyFSA, you must first login to the site. Once you login, the different MyFSA sections will be visible to you in the left column of the screen. Any information you save in the site will be displayed in MyFSA. To go directly to a particular section of MyFSA, you may click on the corresponding link for that section.


What is in MyFSA?



 


Applications


Once you begin an application, MyFSA will track where you stopped entering your information and will link you to all applications in progress. It will also provide the date and confirmation number of your submitted applications.



 


Colleges


Any colleges you add to MyFSA will be stored in and accessed through this area. These colleges will automatically be used in worksheets and tables calling for colleges. You may add or delete colleges from this list at anytime.



 


Profile


The information you enter about yourself will be stored in your Profile. Make sure to keep your information as accurate and up-to-date as possible. The Profile will be used to fill in your applications automatically and search for potential scholarships that match your profile.



 


Financial Aid


You may store and access any scholarships, loans, and cost of attendance information saved in the Financial Aid Wizard. This section of MyFSA uses the schools from the Colleges section above to calculate approximate costs.



 


Event Calendar


You may access your personal or college events on a daily, weekly, or monthly basis.



 


Careers


Once you have completed the Self Assessment and Career Finder, any careers or majors that have met your specifications can be stored and accessed here.



 


Planner Output


Once you have completed the Student Planner, your results can be stored and accessed here.


Who has access to MyFSA? Is it private?


The only way to access MyFSA is with your individual user-name and secret password. We will only provide your information to third parties if you indicate that you would like us to do so. We recommend you read our privacy statement.

Friday, July 13, 2007

Getting Car Loans After Bankruptcy

BadcreditautoloansRead up Your Credit Report


Before you start applying for a car loan, treasurer's check out your credit report and make sure all your accounts are in order. It is not especially after a bankruptcy to see open pay that should be closed, which hurt your credit rating.


While pregnant at your credit report, consider adding a page explaining the situation that convinced in your bankruptcy. If there were reducing circumstances, managers may approve you for a greater rate pharisaical under dull conditions.


Explain Your Situation


Car loan applications will ask if you have ever declared bankruptcy and why. This is your chance to explain what led up to the situation and what steps you have taken to resolve your credit situation. Be sure to incriminate improvements in your financial history too.


Plan Your Car Purchase


Before purchasing a vehicle, fix what you can afford in a pump car loan payment. This will help you decide which financing package is best for you. In a walk the loan amount and length of payments will determine your quarterly payments, so there is flexibility in determining which ministry you can afford to control.


Consider Refinancing


Once you are approved for a car loan, keep your eye on future refinancing. By making singular payments on all your bills, in a year’s time you could qualify for significantly lower interest rates. In par-three golf years, you can uncover your credit version to near excellent and qualify for even lower rates.


Use A Car Loan Lender


Car loan managers make their money by finding you a loan. Car loan capitalists work with several bankroll* partners to back loans with all kinds of credit risk, including bankruptcies.


Online publishing car loan lenders perform with mountain* of loans, and can usually complain you a better deliver than your discriminative car dealerships. Online publishing car loan lenders will send you a check when you are approved, basically making you a pre-approved car loan buyer.

Sunday, July 8, 2007

Citi-Bank Student Loans Web Site

This bit is regarding Citi-Bank’s student loans, and their online presence to some degree. They do Parent Federal PLUS loans, Federal Stafford loans, and Graduate Federal student loans.


Citibank has a quality web site for students to help them prepare for college and figure out what they need in terms of a student loan for their books, rent, tuition, and living expenses.


Citibank student loans provide much more than just the loan. Although this is an important part, after all you need the money to help with your education; they also provide a great deal of information about planning for college, paying for your college education, how to go about applying for a student loan, what you need to do about repaying loans and information about managing your account with the bank.


Since Citibank provides so much information about student loans we will focus more on the front end portion of student loans and that is what do you need to do to get ready for college and paying for college.


Citibank will walk you through the following topics to ensure that you are ready for a loan and ready for college. After all if you are successful, then you are probably going to pay your loan back to them on time. They cover such subjects as "what colleges look for", "how to chose a school?", Saving for School"," College Planning checklists" and much more.


Part of getting ready for college is doing a budget so that you know what college will cost and how much you need to borrow on your student loan. They cover loan products, special offers and just plain information about financial terms as well as financial aid options that you may consider. Check out Citibank's web site for other information about student loans.

5 Home Improvement Loan Points


This article is from Jessica Peterson, and lays out 5 good points regarding home improvement loans. Found this over at Loanspoke.


Home Improvement Loans Fixed


Do remember that on most home improvement loans the fact that the loan has to be used for making home improvements is one of the contract’s clauses. Therefore, you may be required to show proof of the improvements you are going to make like constructor’s plans, designer’s plans, etc.


Any other use can result in the cancelation of the loan program and the payments becoming immediately due. Therefore, be careful and read the contract thoroughly.


Home Improvement Loans & Equity


Home improvement loan don’t necessary require equity but unsecured home improvement loans are too expensive when compared to home improvement loans based on equity. Therefore it is always advisable to obtain a home equity loan for home improvements. These loans use the available equity on your home to secure the money borrowed and since the money is used to improve the property that will be used as collateral, qualifying for these loans is a lot easier.


125% Home Improvement Loans


These loans let you use 125% of the value of the property as guarantee of repayment. Thus, even if you don’t have enough equity on your home, you can still obtain these loans. The idea is simple: the money will be used to improve the property which will in turn raise its value making more equity available and with few monthly payments, the accumulated debt (mortgage plus home equity loan) will equal 100% of the value of the property and so, both lenders will be fully protected.


Requirements For Approval On Home Improvement Loans


Home improvement loans, especially those based on equity are very easy to qualify for. The risk involved in the transaction is very little. The chances of default are greatly reduced and in the event of default, repossession assures the lender that he will recover the investment. Therefore, a moderate credit score and history will be enough; there is no need for your credit to be good or perfect.


Only serious delinquencies like bankruptcies or defaults can ruin your chances. Other than that, your income needs to let you afford the payments with ease. There are no further requirements because as the loan is used for improvements, it raises the value of the property which is the asset guaranteeing repayment.


Home Improvement Loans Nature


What makes a loan a home improvement loan is the use that the money receives. This use can be a condition for the loan approval and thus there are penalties that can be applied if you don’t comply with that requirement. However, those home improvement loans that are unsecured are actually personal loans and the use you give to the money is really up to you. They are just promoted as home improvement loans to attract customers but those loans are nothing but personal unsecured loans.








Jessica Peterson writes finance articles for Yourloanservices.com where she shares her knowledge about how to get money for a starting-up business, consolidating any kind of debt, repairing a home even with a bad credit history and more.

Friday, June 22, 2007

Article On Respecting Your Credit Card

Creditcardsvisamastercard


Video is someone getting harrassed by a credit card company, and the article is about how to avoid that happening to you.


Credit cards are really powerful tools when used properly and with respect. Customers can usually start out with a credit limit of $500. Once they establish a record of making their payments on time and paying their balances off when required, the credit card companies will usually increase these limits.


It is quite common to have a $5000 dollar limit on a credit card, while some business accounts will have much larger limits to account for higher transactions. Movie stars have been known to have an unlimited balance on their cards.


The trick to all credit cards, regardless of the limit you have and the other features you have with the card, is to pay your balance off each and every month. If you run an unpaid balance at any time, most credit card companies are going to charge interest on the unpaid balance and the interest rate will be much higher than normal personal loan rates.


In some cases the credit card company will charge you interest from the time that the item was charged to the card. Consumers can end up paying a great deal of interest. If you have only paid the minimum payment, you may find that the majority of this payment went towards the interest charged for the month and very little actually reduced the balance on your credit card.


When you receive your statement, among other information on your statement will be the due date. This is the date the credit card company must receive payment and credit it to your account, otherwise interest will be charged. Notice that they must receive it before or on this date.


If you make your payment on the due date and send it by mail or send it electronically, they will not receive the funds for a few days and the funds will not be credited to your account. Technically you are over due and you will be charged interest on the unpaid balance. Always try to send the payment a few business days in advance of the due date, taking into account weekends and holidays.


If for some reason you are unable to make your payments on time or you need to only pay the minimum payment for a few months due to cash flow issues, consumers may want to consider a small personal loan. Personal loan interest rates are usually much lower so more of your money will go towards reducing the loan when you make a payment.


Often the same lender that provided the credit card to you will be happy to provide you with a personal loan as well. Consumers will find this approach quite convenient since payments are processed more quickly.


In summary try to pay the full balance off on your credit card on or before the due date to avoid high interest rate charges. If you will not be able to pay the full amount for a few months, consumers can also consider a small personal loan at a lower interest rate as an alternative to paying high interest rates on their credit card.


When You Default On Payments….



 

Tuesday, June 19, 2007

Getting a Student Loan Privately

Badcreditstudentloans


This is just a small article on private student loans. You can see the video on student loans at the bottom of the article as well. 


Private loans for students who need to fund their studies is an important educational loan product.


The advantage of a private student loan is that you can see banks and lending institutions compete for your student loan by making your interest rates and payment terms at competitive levels.


Private lenders can often disperse you your university education money sooner than Government student aid programs. Getting your college degree funding privately may be the best option for you.


Learning what line of study to embark on is one concern but where to get tuition money is stressful.


Common eligibility criteria for Private Student Funding includes:


- you have to prove that the student is a U.S. citizen or that you have been living in the states for over two years.


- you have to able to show you have a steady income and if you are self employed show business records for over 2 years


- proof of enrollment at college or university


Depending on which private loan provider you use the above lending criteria will apply to all students including graduates and undergraduates. Government financial aid for students often does not provide enough money to cover all on campus and off campus expenses.


The constant rise of tuition and school fees has made it very expensive for students hoping conclude all their studies in peace. What I like about getting a student loan privately is you can negotiate payment schedules and payment term with more ease.


Related Video on Student Loans


Sunday, June 17, 2007

Online Car Loans

BadcreditautoloansOnline car loans are promoted with extreme vigor. The competition is stiff and the webmasters of the world are all working feverishly to compete for the first page results of the major search engines.


There are many different finance merchants pitching online car loans who grapple to sign super affiliates all over the world. Most of you reading this are probably not interested in the world of online affiliate marketing but I want touch on this industry. Without the affiliate marketing world of savvy webmasters the online auto finance companies would be making far less profit.


One of the amazing things about this industry is how internet savvy hobbyist have entered the arena of big business and online car loans. The relationships built between the affiliate marketers and the banks are strong as both parties have so much to gain together.


This symbiotic relationship continues to grow. When anyone is considering the prospect of online car loans, they are well served to do some reading on the subject. The best place to start is your favorite search engine. See what the rates are at all the merchant websites for online car loans.


You'll want to see which online car loans come the easiest and with reasonable interest rates. Reading an article or two like this one is also good. People are now starting to learn that the internet is safe for making large transactions and giving personal information.


There will be many more people going to internet for their online car loans in the future. In fact I have never even heard of a scam that was involving online finance companies. The only information I have seen that is questionable for online car loans is the promise of guaranteed car finance.


Related Video – Borrowing Online



 


 


 


 

Saturday, June 16, 2007

More On Federal Student Loans and Sallie Mae



Badcreditstudentloans


Another article on Student loans, and in particular, Sallie Mae student loan. You might dig the video as well. 


Little piece here in Sallie Mae student loans, plus an acompaning video called,”Get The Hell Away From Sallie Mae”, in which a girl is trying to get rid of her financial burden to Sallie Mae. Sorta interesting.   


College students today are lucky. When scholarships savings aren't enough students today can get various types of student loans.


As students proceed through college student loans do not have to be paid until the student graduates from college or quits.


Using a private loan can be extremely expensive to pay back at a high interest rate. To ease the burden on students upon graduation Federal student loans are available.


Private Student Loans vs. Federal Student Loans


The best thing to do is get a Federal student loan. Federal loans have lower interest rates and are readily available to students. Private loans are more expensive to pay back and are not recommended if they can be avoided.


The reason Federal student loans are so available is because graduates of college will usually make a lot more money than other people.


This gives the lenders confidence that their money will be repaid. The top education student loans are available through Sallie Mae.


Sallie Mae Student Loan


Sallie Mae is a financial institution than handles Federal student loans. Student loans given are from the government or Federal sources have more favorable terms than private loans.


Sallie Mae offers a combination of student loan options that can meet the type of financing needs of a student all in one place.


For example, the Federal Stafford loans are the most common. They have a fixed rate and low interest. These student loans are very available to undergraduate students.


To receive this loan the student must be attending an accredited school at least half time. The Stafford loan is the most common student loan used today


Generally speaking, student loans are easy for students to receive. Because of their fixed rates and low interest, the Federal Stafford Loan is the recommended one first.


A student loan can make the difference for students to graduate from college so more students are able to complete college today than anytime in the past








Janie Jenkins is the "Easy To Do" instruction expert. Discover how easy it is to do what seemed like your most complicated ambition. Easy To Do Student Loans


Related Video…Escape from Sallie Mae



 

Thursday, June 14, 2007

Finding Auto Loans for People with Bad Credit

BadcreditautoloansFinding auto loans for people with bad credit is practically an art form. What I mean is that, times change. Practises and policies of US finance companies change like the wind and you need a crystal ball if you want to be on your game.......if you ever want to find REASONABLE auto loans for people with bad credit.


I have found a website that came as a life-saver to say the least. Not only can they find you the loan you need, they can keep the interest rates still reasonable. Quite a feat, if I don't say to myself. ;-)


One of the common issues when finding auto loans for people with bad credit, is the constant need to be up to date. As I mentioned above, the ongoing task for me is to make sure the links I provide go to finance companies (and brokers) that are constantly at the industry edge.


 I have found a few online sites that are invaluable in this matter. Right now we are featuring a broker style site that charges a very small fee and they find the best interest rates on auto loans for people with bad credit.


I encourage you to apply through this site. There is no middle man cost to my visitors. As in zero, nota, nill, zilch, none. That is worth repeating. No middle man cost if you apply for an auto loan here.


I pride myself on providing the most reasonable, hassle free finance companies and their user friendly websites, that deliver auto loans for people with bad credit. Times have changed in a biq way since the days of the sweaty meeting with the intimidating banker. You can apply online now and get an answer back in just minutes.


I have used many resources in tracking down (and keeping track) of resources regarding auto loans for people with bad credit. You may want to click to our home page and bookmark this site for future reference. Many visitors like to surf around for awhile, before they make a decision on the best place to get their auto loan.

Tuesday, June 5, 2007

Student Loans Information - Video To Pay Off Student Loans


Badcreditstudentloans


Good article on student loan re-print rules, and the changing industry of student loans. Great video of a guy trying to pay off some of his student loan using You Tube.  


Allot is changing in the student loan market this past year, and college lending companies are having restrictions put upon them. This piece regards pre-printing rules of student loan applications.


Story…


Borrowers looking to take advantage of the Student Loan Consolidation Program are finding it more difficult to complete the application as lenders no longer have the ability to pre-print the loan information.


 Cut your monthly student loan payment by up to 60%


The National Student Loan Data System (NSLDS) is the US Department of Education's central database for student aid. It houses data received from schools, guaranty agencies, the Direct Loan program, the Pell Grant program, and others. Due to some recent policy changes, access to the system has been suspended for all lenders and NSLDS can no longer be used to determine the eligibility of a consolidation loan borrower.


Therefore, unless you already know all of your loan information, lenders can no longer check on your behalf. Fortunately, there is another option.


By using the FAFSA pin number assigned by the Department of Education, you can create an account in NSLDS, where you will have viewing rights of your own Title IV Federal loans. This information will help you complete the loan section on the application and affirm your eligibility for the Federal Consolidation Program.


The process has become more in depth for the borrower, but the benefits far outweigh the additional work involved. The Federal Consolidation Program offers a low, fixed interest rate, with additional interest rate reductions available.


Click here if you forgot your FAFSA pin number.


Click here to retrieve your loan information in NSLDS.


Student Lending Corporation is available to answer any questions you may have pertaining to this free, federal program. Our highly trained loan counselors are available to assist you from 10 am to 9 PM Eastern Time, Monday thru Friday and can be reached toll free at (800) 982-3588 for your convenience.









Student Lending Corporation site http://www.studentlendingcorp.com


 

Semi-Related Video…Creative Way to Pay Off Student Loan
Note: Loanspoke is, in no way, related to this young student. 

 

Friday, June 1, 2007

Columbia University Settles On Student Loans

BadcreditstudentloansColumbia University has reached a settlement with New York State's attorney general over student loan practices that will require the school to pay $1.1 million into an educational fund and submit to monitoring of its financial aid procedures.


Columbia and the financial aid officers' national association also have agreed to abide by New York's code of conduct for lending practices, New York Attorney General Andrew Cuomo said Thursday.
 
Two more lenders have agreed to abide by a code of conduct designed to protect students. (April 25)
 
Separately, the Federal Trade Commission is looking into student loan company marketing tactics, according to a letter released Thursday by the chairman of the House education committee.


Loan sharks on campus
"We are actively assessing whether lenders are making deceptive claims," FTC Chairman Deborah Majoras said in the May 31 letter. "In addition, we are evaluating whether other laws that the FTC enforces are being violated."


Congressional and state officials have been examining the $85 billion student loan industry for months, with investigators alleging conflicts of interest and payment by lenders of kickbacks to curry favor with college officials.


New York has now struck agreements with at least 25 schools and five student loan companies as part of its investigation.


The FTC has formed an intra-agency working group focused on concerns about private student loans, according to the letter, which was addressed to committee Chairman George Miller, a California Democrat.


Under Columbia's settlement, the school will pay $1.1 million into a borrowers' education fund, and submit its financial aid procedures to monitoring by Cuomo's office.


"The agreement signed with the attorney general specifically states that Columbia University does not admit, and expressly denies, that it has violated any law in connection with its student loan practices," New York-based Columbia said in a statement.


Columbia also said it "has moved quickly on a number of reforms now contained in the agreement with the attorney general."


The National Association of Student Financial Aid Administrators (NASFAA) also agreed to abide by the code and to submit to five years of oversight measures, Cuomo said.


Columbia said last week that it had dismissed its director of financial aid, David Charlow, after regulatory filings showed he promoted a student loan company in which he had a financial stake.


Those filings showed that Charlow sold shares in Education Lending Group, the former parent of Student Loan Xpress, for a gain of more than $100,000. Student Loan Xpress is now a unit of CIT Group Inc. (up $1.00 to $60.93, Charts, Fortune 500)


At a news conference in Manhattan, announcing Thursday's settlement, Cuomo said his office's probe of the aid official was continuing.


"There is an ongoing investigation still with the individual at Columbia University," Cuomo said. "This individual is not part of this settlement."


Charlow's attorney, Harvey Kurzweil, declined to comment Thursday.

[Source College Savings Advice]

Tuesday, May 29, 2007

Money Board Game Changes To Credit Instead of Cash

Financialindustrynews


Hasbro is amending their popular financial board game to include charging a credit, or debit card, instead of using cash. 


Read more….


Recently, Hasbro the toy manufacturer announced that later this year it will launch a new edition of its classic, The Game of Life. The new version, called Twists & Turns ($35), will replace play money with a Visa-branded card. Players insert their cards into a gizmo, called a LIFEPod, that keeps track of each player's finances so there's no need for a banker.


As Matt Collins, Hasbro's vice-president of marketing, explains, "We knew it was time to reflect the way people choose to pay and be paid -- and replacing cash with Visa was an obvious choice."
 
Well, it's not obvious to me. I'm a big proponent of using board games to teach children about money, and the classic Game of Life has always been a family favorite. It covers a lot of territory: careers, college, mortgages, insurance, taxes, stocks and dividends. And it lets kids feel the pleasure of collecting a salary, or the pain of paying for college, by piling up or depleting their stacks of money.


Plus, the player who's designated to be the banker has to count out each player's cash, pay salaries, collect fines and make change -- a painless way for kids to hone their math skills.


For all those reasons, using a card just doesn't cut it -- especially when that card is advertising a company's logo to 9-year-olds, the game's target audience. And -- yikes! -- Monopoly may be next. Hasbro has already introduced a cashless version of the game in the United Kingdom.


The adults who dream up these things say they're just trying to prepare kids for a cashless society. But they make the mistake of thinking like grown-ups instead of children.


A cashless society may be a great thing for credit-card issuers, online retailers and adults who use plastic as a convenience. But kids see the world in more concrete terms. Although the Visa Life card isn't labeled a credit card or a debit card or a prepaid card, the distinction is lost on youngsters.


To kids, plastic of any kind isn't as real as money they can see and feel. With a cashless society looming in their future, teaching children to manage hard currency is more important than ever.


Readers of this column know that I've been on this crusade for a long time. Two years ago I wrote that giving kids credit cards is like letting them use drugs early so they won't turn into addicts (see Kids and Credit Cards Don't Mix).


But I'm not alone on my soapbox. There's plenty of research to back me up, and I'll write more about that next week.


[Source Kiplinger.com]


Related Video…Hasbro Game of Life



 

Monday, May 28, 2007

4 Credit Cards That Chase Bank Offers

Creditcardsvisamastercard


Here is the short version of the Chase credit card products that are currently available for American consumers.


All Chase credit card products have an APR that is a 0% introduction on balance transfers and purchases. All cards have 0% annual fees except the Chase Perfectcard which has a $19 dollar fee minimum. Below is Chase's description of their cards. There are four Chase credit cards offering different credit products:


Credit Card #1 - The Chase Cash Builder Card = earns up to 2% cash rewards for your purchases when you use your card


Credit Card #2 - Chase PerfectCard = earn rebates on all gas purchase when you use your PerfectCard


Credit Card #3 - Chase Platinum = Purchasing power with superior customer service


Credit Card #4 - Chase Platinum for students = designed to help four college students jump start the financial future.


Read the small print below for your credit card research (I've blown up the small print for you)


* The introductory rate will be maintained for the term of the introductory offer as long as you make at least the required minimum payments on your account when due. Otherwise the regular preferred pricing rate will take effect from your last statement closing date.


** No annual fee first year. Thereafter, the $20 annual fee will be waived if at least nine (9) purchase transactions were made in the prior year at Marathon retail locations.


† No Annual Fee the first year the account is open. $19 Annual Fee thereafter, but the fee is waived if 9 purchases are made in the prior year.


‡ No Annual fee first year. Thereafter, the $20 annual fee will be waived if at least nine (9) purchase transactions were made in the prior year at Speed way retail locations.


Funniest Master Card Priceless Commercial



 

Thursday, May 24, 2007

Online Boat/Marine Loans

BoatloansFrom the old article archive of Auto Loan 4u


Apply for online boat loans with a reasonable financial merchant - good credit boat financing, credit score 625 boat finance, or bad credit boat funding and get a yes answer back in minutes. We scour the internet for reasonable financial companies that provide good and bad credit lending. They all have excellent rates on good credit boat financing, credit score 625 loans and bad credit boat finance. Even if have a credit score of 625 or less, you can find the funding you need.


Even for a boat finance charge with a credit score of 625 or less. These select few lenders I have chosen excel when it comes to delivering hassle free bad credit boat boat financing, and bank boat financing. Qualifying for boat finance is a snap online. Whether you are looking for small boat financing, or classic boat financing. You'll get an answer back in ten minutes usually, and at the very latest twenty four hours.


Best Interest Rates for Boat, Seadoo, and Rv Financing


Some visitors come on my site to get help with financing a boat, or find the best rates for boat funding. Others want to finance boat motors or seadoos. Some need used boat owner financing. Some have bad credit and need "credit score 625 loans". Whatever your needs are, you will find the best of the best, in my boat finance directory below. I wish you well on your quest for boat loan financing and bad credit boat finance.


Before I sign off I should mention that the bank/ fund providers are not in abundance. The boat and rv loan industry is very small online. You will notice that as you surf for the best interest rates and flexibility.

Don't Borrow Money For These Reasons

HomeequityThis is a good 5 piece bit of info on borrowing  money for all the wrong reasons. Good financial advice to heed. Take a close read of bad borrowing item #3. There are many pitfalls when borrowing money. If you can, try to only borrow when you buy a home or car. Even better, forget about the car and borrow just for the house or condo.   


I. Borrowing to invest - Taking out a loan to invest is not a good idea. "In the late '90s we saw a lot of that and people got really burned. But people tend to forget," Petote says. Of course a caveat is borrowing to start or grow a business, where thoughtful consideration has gone into the expenditure and the borrower is sure the return on investment (ROI) is there. "That's typically the way I see clients use debt to create wealth," he says.

II. For the tax deduction – One of the things that drives me crazy is when people say they took out a home equity loan because they needed a deduction. What I ask them to do is put a dollar on the table and I give them back 30 cents. That's exactly what they're doing. Paying a dollar to get 30 cents back, 25 cents back, depending on the deduction." He says tax deductibility should be a secondary or tertiary benefit and stresses the importance of enlisting the advice of a trusted tax professional before making decisions.

III. To defer debt – Using your home equity to consolidate debt, without committing to a change in lifestyle could spell disaster. Petote says that with credit card debt the worst you could do is hurt your credit rating, but if you consolidate credit card loans into a home equity loan, your house is on the line. Consolidation to get a lower rate is a viable option only for those absolutely committed to stop using the credit cards. He cautions: "People aren't honest with themselves. They think 'I'm going to do it this time,' just like they'd say 'I'm going to lose weight,' and on and on." Even the best intentions can fail. Consolidation is not a stopgap measure. Stop spending more than you earn, no ifs, ands or buts.


IV. Buying from wish list - Buying a boat with home equity creates negative wealth. "Generally you don't build wealth by borrowing money. If you're the lender, that's how you build wealth," Petote says. He opts rather to look to build wealth over a lifetime, saying that people who have lot of money typically haven't used much debt. If you want it, save for it.


V. Borrow using a balloon or interest-only loans - Interest-only loans or loans with balloon payments are generally marketed to people who are looking to buy more home than they can afford, says Petote. He warns: "If you're stretching it and only paying interest, when you go to refinance and throw principal in there too, you will really be in big trouble. Or if you don't have a strong cash flow or money available, you will run into problems when that balloons." Pay on principal. It's in your best interest.


[Via Bankrate.com]


Related Video…


Treasury Department Scolds Lenders

SubprimeforclosuresStory on a Treasury Department official who verbally went after subprime lenders for their risky lending tactic.


Story… 


A Treasury Department official on Wednesday scolded mortgage lenders for failing to verify the income of borrowers with blemished credit histories, blaming the practice for rising defaults and foreclosures.


Comptroller of the Currency John C. Dugan said federal banking regulators need to give the industry guidance for improvement in this area, though he did not offer a specific remedy.


"Sound underwriting and, for that matter, simple common sense suggests that a mortgage lender would almost always want to verify the income of a riskier subprime borrower to make sure that he or she had the means to make the required monthly payments," Dugan said in a speech to a New York housing group.


"But the norm appears to be just the opposite," said Dugan, whose agency regulates nationally chartered banks. "Nearly 50 percent of all subprime loans last year accepted stated income," meaning the underwriters did not verify the information provided by borrowers on loan applications.


Federal Reserve Chairman Ben Bernanke said last week that the central bank is considering tougher rules to reduce abusive home loan practices even though he believes the economy should escape without significant harm from the problems in the market for subprime mortgages, or loans made to borrowers with shaky credit histories.


In March, the Fed and the other four federal agencies that regulate banks, thrifts and credit unions _ including the Office of the Comptroller of the Currency _ proposed guidelines that call for strict evaluations of a borrower's ability to repay, among other recommendations.


The guidelines, which would affect big lenders such as Countrywide Financial Corp. and Washington Mutual Inc., have not yet been made final. The Fed plans a mid-June hearing on ways to curb abusive lending practices.


Lenders catering to home buyers with shaky credit have seen a spike in defaults on payments in the past year, and more than 30 subprime lenders _ those catering to borrowers with shaky credit histories have gone bankrupt this year. Major lenders have tightened standards for borrowers since February, when parts of the mortgage market fell into disarray.


RealtyTrac Inc., an industry research firm, said last week that mortgage lenders foreclosed on 62 percent more U.S. homes in April than a year ago.


Home prices are slipping too. The national median existing single-family home price in the first quarter was $212,300, down 1.8 percent from a year ago when the median price was $216,100, according to the National Association of Realtors. The median is a typical market price where half the homes sold for more and half the homes sold for less.


Dugan's speech came one day after trade groups representing mortgage bankers and brokers traded barbs over who should be blamed for the housing market's woes.


The head of the mortgage banking industry's trade group claimed mortgage brokers and lenders focused only on short-term profits benefited from the housing boom, but didn't do enough to examine whether borrowers could repay.


Harry Dinham, president of the National Association of Mortgage Brokers, replied by saying that, because most residential mortgage loans are quickly resold to investors, most lenders are actually "just brokering the transaction but afraid or ashamed to admit it."


Shares of Countrywide gained 22 cents to $41 in morning trading, while those of Washington Mutual dipped 18 cents to $43.90.


[Source Google News]


Related Video…