viernes, 20 de enero de 2017

10 Tips To Improving Your Credit Reports

10 Tips To Improving Your Credit Reports

Credit is something that some take lightly or give little thought to until it’s really needed. There are 10 things that you can do to make sure that your credit is always in good standing so it will be available when needed.

1) Pay your bills on time. A consistent history of timely payments will greatly improve your credit profile and will, therefore, make you more desirable to lenders. In many cases, a strong payment history in your credit reports will also result in better interest rates.

2) If possible, pay your bill in full every month. This will help to save you money in finance charges, especially credit cards with high interest rates, and will make your credit reports even stronger.

3) Avoid carrying a balance of more than 50% of your total credit limit on any credit card.

4) If you notice any incorrect information on your credit reports, dispute it in writing with the credit bureau immediately. You may also find it helpful to contact the creditor directly, notify them of the incorrect information and ask that they correct it with the credit bureau and on each of your credit reports.



5) If you have recently filed for bankruptcy, start rebuilding your credit with either a secured credit card or one that is known to be bankruptcy-friendly. The latter often requires higher interest be paid, but your credit score will begin to rise after three months of a steady payment history is listed in your credit reports.

6) If you have old accounts that are listed as being open, but are actually closed, call the creditor and send a letter to the credit bureau. Often times, creditors simply never report an account as being closed with the credit bureaus. If you have a lot of available credit on your report, potential lenders may wonder why you need all of this open credit and what your plans are for it’s use. A large number of apparently open accounts with a zero balance may put you in the high risk loan category if the lender suspects you plan to increase your debt load substantially with your unused credit.

7) Avoid excessively applying for credit as this may lower your credit score because of multiple inquiries.

8) Use your credit cards for necessities only and avoid spending more than you could repay within six months.

9) If your credit cards have excessively high credit limits that you never plan to use, call the creditor and ask that they reduce your credit limit to an amount that you are comfortable with. This will not only reduce the temptation of overspending, but will also prevent potential lenders from seeing that you have a lot of available credit and suspecting that you plan to go into serious debt.

10) The best way to improve your credit reports is to review the information filed with each of the three major credit bureaus every six months. These include TransUnion, Experian and Equifax. A free copy of credit reports can be obtained every 12 months at AnnualCreditReport.com

BY EDSON CANO



viernes, 16 de diciembre de 2016

Loan. What does it mean


Loan. What does it mean .

Loan called the convention that one of the parties (lender) transfers to another (debtor) the ownership of  things (cash or securities usually) and the debtor has the obligation to repay the things of the same quality and quantity of paying or not  interest on the loan. The loan taken by the debtor to cover needs that can not meet with current revenue. Also, the loan is a form of capital by companies for the expansion of their business.

Loans are:

1. Short term, when made for a period of less than one year,  medium term for no longer than five years, a long term for more than five years and with no  refund deadline, but redeems the first request.
2 Private and public when the debtor is the state or public agencies or private individuals and companies.



3. Consumer if carried out to meet current consumer demands and productively when it comes to financing business.
4. Internally, when events in the internal and external financial market if carried out with other countries or international organizations in foreign currency.

We also have with interest,interest-free and fixed interest loans. A great type of loan is the debenture. The company that wants to enter into a debenture loan divide the amount of money  want to borrow in equal parts or unevenly and issue securities and bonds are asked whose nominal value is equal to the value of those units. Then the company delivers bonds to seeking (lenders), after payment of a sum of money from them, which corresponds to the value of bonds.

BY EDSON CANO




100% Financing Bad Credit Mortgages - Tips On Getting Approved


100% Financing Bad Credit Mortgages - Tips On Getting Approved

100% financing of a bad credit mortgage can help you buy a house with little cash due at closing. Even with an adverse credit score, you can start building home equity and wealth with your new home purchase. To get approved for such subprime mortgages, take a look at your credit report. Stack the odds in your favor by increasing your qualifications. And finally, search for the right lender online.

Take Stock Of Your Credit Situation

With poor credit, you can’t afford to have mistakes in your credit report. Before applying for a home loan, go over a copy of your report and make sure all your information is accurate. You can get a free copy of your report online through many sites.

If you plan to secure financing in the next few months, don’t open or close any additional accounts. Such activity will only lower your score – at least for a short time. Instead, focus on spreading your debt across accounts or eliminating it.



Plan On Cash Reserves And Low Debt Ratio

Subprime lenders look at several factors when determining a mortgage application’s status. Credit payment is important, but so are cash assets and income. These two factors can offset late payments or even a fairly recent bankruptcy.

Most lenders prefer to see at least six months of cash reserves for a no-money down mortgage. A low debt-to-income ratio is also critical.

Search For The Right Lender Online

There is a wide range of rates and fees charged for subprime home loans. The only way to find the best deal is to search for it online. Broker sites with multiple quotes are the easiest place to start.

Ask for loan estimates that include quotes on closing costs and fees for a “no money down” mortgage. This will give you a realistic picture of loan costs.

However, the problem isn’t so much about getting approved for 100% financing; it’s about getting a decent rate. Be open to all your financing options, including a down payment. Lenders are more than willing to work with your situation, regardless of your credit history.

BY EDSON CANO