May 20, 2010

Mortgage rates fall to lowest level of the year http://ow.ly/1NW5d

May 17, 2010

May 15, 2010

Effective Ways to Repair Bad Credit Scores

Having good credit score rating could mean the difference between low interest and high interest financing. In some cases it may mean the difference between financing and no financing. Good credit score is something that you should have in order to live life comfortable and as easily as possible. This is why many people work hard in order to have good credit rating score and prevent them from plunging in to a bad credit rating score.

However, if you are plagued with bad credit score in the past, you now ask how you can get good credit score again or how you can repair your credit score. It is important to realize the fact that if you have a bad credit score, you will need to repair it as soon as possible before your credit score becomes much worse. Repairing bad credit score will require you to have patience and also a little luck. It is something that you should do in order for you to live life comfortably and also a little easier for you and your family. By repairing your bad credit score as soon as possible, you will never miss out on any more great opportunities that will cross your path in the future.

Before you go on and start repairing your bad credit score, you first need to understand what credit is all about. You have to know how it can affect you life. For example, if you are in need of a loan, lenders will take a look at your credit rating to determine if you can be approved for the loan. A good credit rating will ensure the lenders that you pay your loans on or before the deadline and thus, will ensure them that you will be able to pay the loan you will apply for. The same applies when you are applying for a credit card.

Now that you know what it means to have a good credit rating, the next thing you need to do is to determine if you have a good credit rating or not. Surprisingly, not many people know if they have a good credit rating or if they have a bad credit rating. To know about your credit score, you can simply ask for it in several credit reporting agencies. They will be able to provide you with a numerical indicator of how much your credit rating rates and how much credit risk you are.

If the indicator says that you have a high score, this means that you have a good credit score, if you have a lower score, then it will indicate that you have a bad credit score and will be far more risky to get approved of for loans. So, if you have a bad credit rating, the first thing you need to do to improve your credit rating is to take care of old debts. By paying all your old debts, this will stop the creditors to stop making negative reports to credit reporting agencies.

This is the first thing you have to do in order to stop your credit score from getting much worse than it already is. By cutting the source of negative credit reports, you will be well on your way to get a good credit score. However, paying all your debts doesn't necessarily mean that you will instantly get good credit rating. You have to remember that this will just stop it from getting any more worse. Your old bad credit score will still be there. So, obviously the next step would be to start looking for ways to make some positive reports on your credit rating.

You can do this by applying for a credit card that is designed for people who have bad credit rating, such as a secured credit card. You should also start opening a new savings account or checking account. Always remember that you should pay your balance on time in order for you to establish a positive credit report.

Eventually, your old bad credit score will expire in time. Always keep paying your debts on time and your credit history will look better than in the past. However, it will usually take around 5 to 7 years for your old credit report with negative reports to expire. This is why patience is very important.

With patience, you will see that in time, your credit score will rise and get rid of those negative reports that you had in the past. Always remember to keep paying your debts on time in order to continue have a good credit score.

May 14, 2010

Mortgage rates sink to five-month low; National average for a 30-year fixed loan is slips slightly to 4.93 percent http://ow.ly/1LgVn

May 8, 2010

The War is On! Real Estate vs Stock Investing

You have read the last couple economic reports. There is improvements in the stock and real estate markets. Now the question is which one to chose to build a strong investment portfolio. This competition between stock market investing and real estate has been going on for many decades. The stock market has been regarded as the defacto place to invest. However, is real estate a better place to invest than the stock market?

With both markets poised to show gains in the next couple of years, where do you invest. Personally, if I have to choose between the two I choose real estate investing. First of all, my comments here are based on sound investment strategies and not the get-rich-quick schemes that got us all in trouble with the financial, real estate, AND stock market meltdown. If history teaches us anything is that more people have become wealthy when they implement saavy decisions in their real estate transactions. Real estate has been compared to gold, which in historical times was considered as a tangible vault of value. The main reason I prefer real estate investing is the tangibility of the asset. Most buyers and investors would prefer for an asset that they can see and touch, that one where at best you have a piece of paper of a company many times you do not even know who is in charge of the future of the company. Another, reason is that it easier to understand and analyze than stock market investing. The forces of supply and demand are easier to grasp than those of the stock market. People can relate to it. Another factor in favor is availability of financing. It is easier to leverage your real estate investing transactions than to obtain financing to build a stock portfolio. Banks generally give loans on appraised values, and an appraiser of a residential realty determines its real market value with a relatively higher degree of accuracy. This is easier than a stock analyst trying to evaluate the books of a corporation accurately. The main reason for this is that real estate assets could be of similar values if they are of similar infrastructure, located at the same place and having similar furniture. However, the same reasoning cannot be applied to different corporations because of several variables, such as location, number of employees, performance, technology, market sector, politics, taxes, rapid growth in population, density, age and other relevant factors in current context of Real Estate over the Stock Market.

Real estate investment is being considered more rewarding as compared to the stock market investment, as people just not believe in spinning money but also securing values. I like both method of investing and recommend it as a way of diversifying once portfolio. The key element on any investing strategy is preparation, research and action.

May 5, 2010

RT @trandafirstef: The Million Dollar Bookshelf. http://dlvr.it/nBz1