How to Make Money Online – Magic Trick
By financen | March 23, 2011 - 4:14 pm - Posted in Money and Banking

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Using cash advance loans during emergencies
By financen | March 22, 2011 - 1:23 pm - Posted in Cash advance

Do you need extra cash till your next payday? Its very easy to apply for one online payday loan and get approved for it. If you need an extra $100 or $1000 before your next payday comes, getting an online payday loan is the easiest way to meet your financial requirements. Online payday loan companies will review your application form and approve it instantly. The money will be deposited to your checking account in a short period of time.

Sometimes the need of extra cash arises when you least expect it. You may need extra cash at times of emergencies like your home or car needs an immediate repair, medical or other emergencies. You might be running low on cash for several days to a week or more before your next pay check comes. Payday loan is an immediate solution at such times of crisis.

Applying for an online payday loan and getting approved for it has now become a lot easier due to the convenience of the internet. There are many online lenders who are offering cheap interest rates on the loan amount and the repayment period is up to 30 days. You just need to answer few simple questions, provide proof of your banking and employment information. Once you fax all the documents, you are approved for the loan and the cash deposited to your bank account within the same day.

Payday loans can solve many of your immediate financial needs. You get 30 days to repay back the loan amount and the terms of the loan contract are also easily explained in writing. Cheap rates and easy repayment terms make getting a cash advance loan an easy process. Most of the time, you can be approved for a loan till payday without having to fax any documents at all.

Browse through the internet and you will find many companies offering loans at easy terms and lower interest rates. The approval is fast and if you need to extend your loan till the next payday, it can also be possibly done. You just have to explain your situation to the lender. Cash advance loans can be the answer to your immediate needs and can be repaid in convenient installments.

People with bad credit can also apply for cash advance loans. So even if you have bad credit and you have been denied from getting a loan, you just need to look for an online cash advance loan. You can visit www.advanceloan.net if you need cash advance.

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The Top 10 Billionaires in the World
By financen | March 19, 2011 - 6:34 am - Posted in Personal Finance

According to Forbes, two new records have been made this year 2011:

1) Total number of Billionaires (1210) and

2) combined wealth of them ($4.5 trillion).

The new comers to the list are mainly from Brazil, Russia, India and China. The most surprising is that Bill Gates now moved to the 2nd position and the person who has beaten him is Carlos Slim from Mexico.

Here is the list of top 10 Billionaires in the world:

No. 1 Carlos Slim Helú & family

Net Worth: $74 billion
Source: Telecom
Citizenship: Mexico

No. 2 Bill Gates

Net Worth: $56 billion
Source: Microsoft
Citizenship: U.S.

No. 3 Warren Buffett

Net Worth: $50 billion
Source: Berkshire Hathaway
Citizenship: U.S.

No. 4 Bernard Arnault

Net Worth: $41 billion
Source: LVMH
Citizenship: France

No. 5 Larry Ellison

Net Worth: $39.5 billion
Source: Oracle
Citizenship: U.S.

No. 6 Lakshmi Mittal

Net Worth: $31.1 billion
Source: Steel
Citizenship: India

No. 7 Amancio Ortega

Net Worth: $31 billion
Source: Zara
Citizenship: Spain

No. 8 Eike Batista

Net Worth: $30 billion
Source: Mining, oil
Citizenship: Brazil

No. 9 Mukesh Ambani

Net Worth: $27 billion
Source: Petrochemicals
Citizenship: India

No. 10 Christy Walton & family

Net Worth: $26.5 billion
Source: Wal-Mart
Citizenship: U.S.

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Important information before closing your bank account due to ACH withdrawals by the payday loan companies
By financen | March 15, 2011 - 3:01 pm - Posted in Payday Loan

Before you close your bank account due to payday loans eating away at your paycheck, please read this.

There are several banks with different policy regarding ach transaction so it is better to go in person and talk to the branch manager. Ask your bank what their policy is on ach transactions on closed accounts before you close the account. Banks having policies regarding ach transaction sometimes are permitted to go ahead and force open closed accounts if any ach transaction takes place within a certain time frame after the account is closed.

Take letters with you showing that you have revoked authorization for each of your payday loan companies to debit your account. If your bank does have this policy, tell them your situation. Don’t be embarrassed. You can ask your bank to put your account on deposit only, by this way you will be putting hold on your ach account before they are closed and your bank can do one of this any kind of negative answer would not be entertained you should let them know.

It is very difficult to leave your bank account open because this payday loan companies have different ways to take money out from your account. As I told you it would not be safe to keep your account open as these companies can produce paper checks and run them through your account without your permission. So closing the account is the best solution to prevent charging your account from this payday loan companies.

It is always safe and suggested that it is better to consult the attorney general or department of financial institution before you close your account. To make sure you are not causing more headaches, some state laws do allow for prosecution if you close your bank account, but that is usually in cases of fraud.

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Helpful tips on how to avoid Foreclosures
By financen | March 8, 2011 - 2:06 pm - Posted in Foreclosures

Nobody plans it thus nobody wants it to happen. Just like unwanted events in family life, losing the house is considered as the most dreadful. Home foreclosure is the last thing you want because this entails auction of the property to recover the investment made by the lender. But it’s not always enough to cover for the total investment hence deficiency judgment could be filed against you.

Reasons for foreclosure: Too much debt obligation, medical emergency and sudden loss of a family member, marriage break up which resulted to loss of secondary source of income, unexpected employment, and the inability to settle adjustable interest rate which increased dramatically.

So here are some helpful tips to avoid foreclosure:

  • Repayment Plan: This is only applicable if there are few missed payments. If your lender agrees, through this you will be able to spread out missed payments for a longer term.
  • Note modification: This is applicable for adjustable loans. You can make an arrangement with your lender to modify the interest rate which will be more manageable for you.
  • Refinance: This is a way to increase your loan balance so you can add back payments then re-amortize your loan. This is applicable if you have enough home equity.
  • Take advantage of forbearance: This is a form of agreement between a borrower and a lender giving more time to wait for repayment. Talking to your lender explaining that you are going through hard times explaining your situation bad I hope if the house was acquired in good faith then there becomes some sort of good alliance between you and your lender. This is better than ignoring notifications sent by your lender which could signify your intention not to pay.
  • Debts forgiveness: Again good communication matters, although it rarely happens, this is a good way to ask your lender to give you more time to repay your mortgage loan. It simply requires that you make a commitment of making succeeding payments current.

Prior to foreclosure, the lender files a Notice of Default against your property. This is a form of public notification which could impair your good credit standing. Always remember to update your lender about the possible date of your repayment. In most cases, lenders become unwilling to negotiate once foreclosure procedures have initiated.

Some other means to deal with foreclosure include selling your property, considering a short sale. Be smart in selling your property by reaching out to expert sellers and obtaining some tips to get the best offers. Short sale applies when the price of your home is less than that of the money you owe. Whichever of these two remaining options you choose, you are bound to lose your home. Well, at least you are not ending up with bad credit.

Know more about Foreclosure from this article: http://portal.hud.gov/hudportal/HUD?src=/topics/avoiding_foreclosure

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What Are Typical Mortgage Down Payments?
By financen | March 2, 2011 - 3:02 pm - Posted in Mortgage

When buying a house for the first time the home buyers make a token amount of money as a mortgage down payments or down payments gifts.

Down payment gifts are heavily regulated. Since many first time home buyers are lacking funds, this makes down payment assistance programs useful. Without programs such as this, many first time home buyers would find it impossible to make that first purchase.

Lenders like to see the buyer have a state in the purchase. So in this brief article I want to help you understand how they work. Try to put yourself in the shoes of the lender. When using down payment assistance or down payment gifts the lender assumes 100% of the risk.

That is why the only proper way for this type of help to work is it has to be a gift. Now you may be wondering, how can I get a gift like this? If this type of mortgage down payment assistance was not regulated, there could become a lot of loan sharks out there.

All FHA loans allow for down payments assistance for the first time home buyers. The gift for down payment can come from anywhere it can be from any relative or friends or even from a charity. However the gift you would be using as down payment has to be documented to prove that this is a gift not a loan. This is just an assurance to the lenders that even you have a small amount of interest in the property. That interest of course is equal to the gift which was used as the down payment.

Now, what if you don’t get any help from your family members or friends for the down payment assistance, we can use a charity. However, it is not exactly the same as if you had gotten a gift from a family member.

There are charities out there that will use the seller’s proceeds as the down payment assistance for you. So then, if we do not have a family member that can help and if we have a problem finding the charity, we can ask the seller to offer the down payment assistance.

Now you must be wondering how does it work? The seller makes a donation to the charity and then the charity makes the down payment for you. Now you may wonder, how can this actually be? Do you mean that the seller is going to make my down payment? No, that is not actually what takes place. The seller makes a charitable donation and the charity makes a gift to the lender equal to the amount of your down payment.

I do not know any other way to explain this other than it is what I call a legal way to launder money! As the buyer of a home, you know you need to make a down payment, so this type of mortgage down payment assistance program is available to you.

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