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 15, 2010
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.
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
April 29, 2010
April 10, 2010
World Financial Market Update
Coal Mine Safety
Recent accidents and death in mining projects will put pressure on government to increase scrutiny and improve security measures in mining operations. The most recently reported coal operation disaster killed 25 miners at a Massey Energy (MEE) mine in West Virginia this week. Another major disaster occurred in China just days before the Massey incident that cost 32 lives. There has been deathly disasters in Colombia, which has not made it to the world news. As a result of several coal mine problems, China shut down numerous mines last year, with the result at China becoming a net importer of coal for the first time ever.
The United States will be increasing scrutiny of their coal operations in the US, the public will be pressuring governmental agencies to seek higher safety standards on their operations. This will make a big push for natural gas, which burns cleaner than coal, is looking increasingly abundant, not to mention cheap, so the last thing the coal industry will want is a bout of bad publicity on safety.
Coal Price
The coking coal market is hot. Due to increased production of steel in China continues to push the coking coal prices to unheard levels. Dalhman Rose analysts this morning released a report on coal with coking coal with a price tag of $200 price tag per metric ton.
Oil
Oil prices have been slowly increasing, now the expectations in the market is that oil prices will increase to triple-digit. The concern will soon become the kiss of death to a global economic recovery. May futures for light sweet crude oil are up 29 cents, at $85.68 par barrel. October futures are up 90 cents at $88.99 per barrel. None of the contracts show a three-digit price, yet.
Natural Gas
The Appalachia Region of the United States, well known for its coal production is becoming one of the hottest global energy plays. It is drawing attention from big names and big money to a region of the country, but it's not coal they're after. It's natural gas. One of India's biggest conglomerates, Reliance Industries Ltd., plunked down $1.7 billion to take a claim in the Marcellus Shale play. Marcellus is a vast underground sheet of shale stretching from New York's Finger Lakes through western Pennsylvania as far south as parts of Kentucky and Tennessee.
What makes Marcellus hot is that drillers have figured out how to run horizontally drilled wells through the shale strata and fracture it under high pressure, literally shattering the rock, to release the natural gas trapped inside. This wasn't possible a generation ago.
Reliance is the first Indian energy company to gain a foothold in the Marcellus Shale, buying exploration rights to 120,000 acres. But it's not the first foreign company in the region by a long shot. Norway's state oil company Statoil and France's Total SA, to name a few.
Unlike crude oil, natural gas cannot be loaded onto tankers and shipped abroad. So when India's Reliance Industries makes a play for gas in North America, it's not looking to send much-needed energy to fuel further growth in India's booming economy. Rather, it's an Indian company injecting itself into an exploration boom in Pennsylvania in the hope of being a supplier of gas to utilities and industries along the East Coast. For American energy companies, this is a familiar role in overseas markets. But it's an unfamiliar site to see so many overseas operators on gas fields here at home.
The big push Reliance in the United States is expected to bring other speculators into the area. Even Reliance is taking a huge risk when consider that the Mumbai based company bought its Marcellus exploration acreage from Atlas Energy Inc. an independent operator based in Mon Township, Pa., with a market cap of less than $3 billion. It's hard to know whether all these big bets on the Marcellus Shale will pan out. There are lots of questions about how long gas will flow out of these special wells before they require expensive overhauls. There is also mounting concern among local governments over whether such unconventional drilling techniques pose environmental threats, especially to ground water. And, of course, there's the natural gas market itself, where prices have been depressed for years from oversupply. However, if the investment results positive for Reliance it would provide Reliance access to a highly populated area with established infrastructure, high income region, and supply to meet demand. Also, as mentioned before with the expected scrutiny in the coal industry and pressure from environmentalists on the United States to seek cleaner alternatives may create a higher demand on natural gas.
Gold
Gold futures settled at a fresh four-month high at $1,161.90 an ounce on the Comex division of the New York Mercantile Exchange, the highest for a most-active contract since December 7. Gold price drivers are the downgrade of Greece which heightened concerns about the euro-zone countries and the global economic recovery, giving prices a decisive upward push. The whole Greek story has been supporting gold for some time now. However, the major concern is not just Greece, but if it is not going to be easy for Greece, what's going to happen if someone else has trouble?.
There has been concern about China's economy and how long they can sustain their buying spree and their currency. Dollar weakness also played a role in gold's winning streak. In addition, the lack of other attractive alternatives due to continuously low interest-rate levels both in the U.S. and the euro zone, should keep interest in gold high and should support the gold price for a while.
Other Metals Are Up
> Silver for May delivery added 22 cents, or 1.2%, to settle at $18.3510 an ounce on Comex.
> Platinum for July delivery added $10.30, or 0.6%, to $1,727.40 an ounce.
> Palladium for June delivery increased $10.10, or 2%, to end at $513.60 an ounce.
> Copper for May delivery ended flat at $3.59 a pound.
Improve your affiliate marketing http://ow.ly/1wlH1
Recent accidents and death in mining projects will put pressure on government to increase scrutiny and improve security measures in mining operations. The most recently reported coal operation disaster killed 25 miners at a Massey Energy (MEE) mine in West Virginia this week. Another major disaster occurred in China just days before the Massey incident that cost 32 lives. There has been deathly disasters in Colombia, which has not made it to the world news. As a result of several coal mine problems, China shut down numerous mines last year, with the result at China becoming a net importer of coal for the first time ever.
The United States will be increasing scrutiny of their coal operations in the US, the public will be pressuring governmental agencies to seek higher safety standards on their operations. This will make a big push for natural gas, which burns cleaner than coal, is looking increasingly abundant, not to mention cheap, so the last thing the coal industry will want is a bout of bad publicity on safety.
Coal Price
The coking coal market is hot. Due to increased production of steel in China continues to push the coking coal prices to unheard levels. Dalhman Rose analysts this morning released a report on coal with coking coal with a price tag of $200 price tag per metric ton.
Oil
Oil prices have been slowly increasing, now the expectations in the market is that oil prices will increase to triple-digit. The concern will soon become the kiss of death to a global economic recovery. May futures for light sweet crude oil are up 29 cents, at $85.68 par barrel. October futures are up 90 cents at $88.99 per barrel. None of the contracts show a three-digit price, yet.
Natural Gas
The Appalachia Region of the United States, well known for its coal production is becoming one of the hottest global energy plays. It is drawing attention from big names and big money to a region of the country, but it's not coal they're after. It's natural gas. One of India's biggest conglomerates, Reliance Industries Ltd., plunked down $1.7 billion to take a claim in the Marcellus Shale play. Marcellus is a vast underground sheet of shale stretching from New York's Finger Lakes through western Pennsylvania as far south as parts of Kentucky and Tennessee.
What makes Marcellus hot is that drillers have figured out how to run horizontally drilled wells through the shale strata and fracture it under high pressure, literally shattering the rock, to release the natural gas trapped inside. This wasn't possible a generation ago.
Reliance is the first Indian energy company to gain a foothold in the Marcellus Shale, buying exploration rights to 120,000 acres. But it's not the first foreign company in the region by a long shot. Norway's state oil company Statoil and France's Total SA, to name a few.
Unlike crude oil, natural gas cannot be loaded onto tankers and shipped abroad. So when India's Reliance Industries makes a play for gas in North America, it's not looking to send much-needed energy to fuel further growth in India's booming economy. Rather, it's an Indian company injecting itself into an exploration boom in Pennsylvania in the hope of being a supplier of gas to utilities and industries along the East Coast. For American energy companies, this is a familiar role in overseas markets. But it's an unfamiliar site to see so many overseas operators on gas fields here at home.
The big push Reliance in the United States is expected to bring other speculators into the area. Even Reliance is taking a huge risk when consider that the Mumbai based company bought its Marcellus exploration acreage from Atlas Energy Inc. an independent operator based in Mon Township, Pa., with a market cap of less than $3 billion. It's hard to know whether all these big bets on the Marcellus Shale will pan out. There are lots of questions about how long gas will flow out of these special wells before they require expensive overhauls. There is also mounting concern among local governments over whether such unconventional drilling techniques pose environmental threats, especially to ground water. And, of course, there's the natural gas market itself, where prices have been depressed for years from oversupply. However, if the investment results positive for Reliance it would provide Reliance access to a highly populated area with established infrastructure, high income region, and supply to meet demand. Also, as mentioned before with the expected scrutiny in the coal industry and pressure from environmentalists on the United States to seek cleaner alternatives may create a higher demand on natural gas.
Gold
Gold futures settled at a fresh four-month high at $1,161.90 an ounce on the Comex division of the New York Mercantile Exchange, the highest for a most-active contract since December 7. Gold price drivers are the downgrade of Greece which heightened concerns about the euro-zone countries and the global economic recovery, giving prices a decisive upward push. The whole Greek story has been supporting gold for some time now. However, the major concern is not just Greece, but if it is not going to be easy for Greece, what's going to happen if someone else has trouble?.
There has been concern about China's economy and how long they can sustain their buying spree and their currency. Dollar weakness also played a role in gold's winning streak. In addition, the lack of other attractive alternatives due to continuously low interest-rate levels both in the U.S. and the euro zone, should keep interest in gold high and should support the gold price for a while.
Other Metals Are Up
> Silver for May delivery added 22 cents, or 1.2%, to settle at $18.3510 an ounce on Comex.
> Platinum for July delivery added $10.30, or 0.6%, to $1,727.40 an ounce.
> Palladium for June delivery increased $10.10, or 2%, to end at $513.60 an ounce.
> Copper for May delivery ended flat at $3.59 a pound.
Improve your affiliate marketing http://ow.ly/1wlH1
April 6, 2010
Financial Shape of America
The Wall Street Journal, USA Today, and Parenting magazine have released shocking statistics on the financial shape of most Americans: about 70% live paycheck to paycheck, about 50% couldn’t cover one month’s expenses if they were laid off, and 44% systematically prepare for retirement by investing. According to USA Today, only 3 out of 100 people age 65 are financially secure; 97 of them can’t write a check for $600 and 54 are still working. This is a rude awakening when we consider that the federal government now needs to pay back the Social Security System for the $2.3 trillion surplus it borrowed over the years.
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