Saturday, January 21, 2006

Need Extra Money? - Refinance or Equity Line of Credit, Which is Right for You?

Ashlee Hovsepian

You may be looking for some extra money to fix up the house, go on a vacation or buy a new car, and you want to take some equity from your home to do it. To do this you could either refinance your home and take some of your equity or apply for an equity line of credit instead. The question is which one is right for you? There are some things to consider about both options when determining how you should obtain the money.

Refinance Your Home

-Are you currently paying a high interest rate and would like to reduce it?
-Does your lending company charge closing costs or points to refinance?
-Consider that you will be borrowing this money and be paying interest on the full borrowed amount for the duration of your mortgage
-Is the interest tax deductible? Speak with your tax advisor.

Equity Line of Credit

-You are only charged interest for the money you take out.
-You may repay the minimum amount or additional monies without penalty.
-What are the interest rates? Are they lower then the current mortgage rates?
-Are there any fees associated with opening an equity line of credit with our financial institution?
-Is the interest tax deductible? Speak with your tax advisor.

The increase in the real estate market has provided people the opportunity to borrow money against their residences to generate cash for the things they need. Financial institutions are making it easier for people with equity in their homes to borrow money. If you are looking for extra money and own a home, you may want to consider one of the two options, either refinance your existing mortgage or take an equity line of credit against your home.

About the Author

Ashlee Hovsepian is the publisher of where you can find the right mortgage and refinance companies to finance your mortgage online.

You may freely distribute or publish this article provided you publish the whole article and include this copyright notice and links in full.

Dobler Consulting Inc
2339 Warwick Dr
FL 34677
United States

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Friday, January 20, 2006

Mortgage Loan Information - Know The Basics When You Refinance or Purchase a Home

Carrie Reeder

If you are currently looking for a new home, chances are that in all the excitement you won't really give any thought to the type of home loan mortgage you take out, instead going with the first one offered to you. This could be a serious mistake – costing you thousands, if not tens of thousands. Make sure you know all about the different types of home mortgage loans before you starting looking for that new dream home!

Here are some of the basic types of mortgage loans:

Fixed-rate home loan mortgage -

As the name suggests, this is a plain-vanilla home loan. Basically you borrow a certain amount over a certain period at a fixed rate of interest. You then pay the same monthly installments for the life of the home loan. The benefit of a fixed-rate home loan is that you can easily budget for the repayments. The downfall of a fixed-rate home loan is that you could end up paying a higher rate of interest than everyone else – no one knows what interest rates will be in 15-20 years time!

Adjustable-rate home loan mortgage -

Mirroring the fixed-rate mortgage is the adjustable-rate mortgage. Again, you borrow a certain amount over a certain period, however in this case the interest rate is not fixed, but is adjustable (or 'floating' as you may also hear it called). The upside to adjustable-rate home loans is that the interest rate at the start of the loan period can be lower than the fixed rate would be. The downside is that it is difficult to budget for, as the amount can change, and you are at the mercy of something outside of your control – interest rate fluctuations, which can change quickly.

Hybrid home loan mortgages -

Trying to fill the void left with the downside of the fixed and adjustable/variable-rate home loans, the hybrid home loan lets you fix the interest rate over the first part of the home loan, and then switch to an adjustable/variable rate later. The upside of hybrid home loans is that they allow you to budget for your repayments during the expensive time when you first buy the home. The downside is that if floating rates are much higher than your fixed rate when the switch happens, you could find you are paying a much higher repayment each month.

To see our list of recommended mortgage lenders with competitive rates for refinance, purchase loans, second mortgages, home equity loans and all other mortgage loans, visit this page Recommended Mortgage

About the Author

Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans. The site has informative articles and the latest finance news.

Dobler Consulting Inc
2339 Warwick Dr
FL 34677
United States

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Thursday, January 19, 2006

Moneynet adds weight to intelligent finance with new personal finance product guides


Moneynet adds weight to intelligent finance with new personal finance product guides, the UK's longest established online personal finance information website, has recently published three online product guides to help consumers get to grips with the increasing complexity of personal finance products.

With a strong stance on ethical finance, the company felt it was important to be proactive on educating consumers about the different aspects of credit related products to get the best deal. This is crucial, as a recent report by Credit Action indicates that less than the half of adults are financially literate, which drops to a third for young adults aged between 21 and 24.

According to the National Statistics website, 91% of men and 90% of women in the UK have at least one credit card, collectively accumulating over £54.3 billion of debt. Credit Action, a national money education charity, states that 50% of the people who take out credit in shops, hadn't planned to do so
when they left home. This is particularly serious as store cards often present the highest rate of interest, indicating either a lack of awareness or understanding on the part of the consumer, or worse a lack of concern about the possible consequences. A survey published last year by the Office of Fair
Trading showed that whilst 60% of cardholders thought they had a good understanding of credit cards, they were unable to answer specific questions or extract key information, such as the APR, fees for late payment or cash withdrawal.

There are currently three guides available on, covering credit cards, mortgages and loans. In addition to explaining the different aspects of credit application, moneynet also offer a glossary of key terms in the resources section to help visitors gain a complete
understanding of the best product for their needs. Further guides are due to be published later this year.

About the Author is the UK's longest established, online personal finance research and data website.
Telephone: 020 8313 9030
ADDRESS: Moneynet
Sussex House
8-10 Homesdale Road

Dobler Consulting Inc
2339 Warwick Dr
FL 34677
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Wednesday, January 18, 2006

Managing Your Finances During a Crisis

Holly Bentz

All tsunamis, hurricanes and medical atrocities aside, there's more to crisis proofing deadly and financial catastrophes. In the realm of protecting one's family from the devastation of financial dire straits, a simple plan starts with a budget. If only the American family learned to spend significantly less of their income, financial crises would almost become extinct.

The formula for financial solace is to reduce the outgoing budget to be applied to a savings account or market fund. The 30+ million Americans ensconced in debt could lower their stress rates and genuinely enjoy life if they put an end to over extending finances. Living from month to month impairs the quality of life issue.

Being financially devastated can be a paralyzing situation. Despite an adequate salary and a dependable job, families across the United States continue to be challenged by making their means last from month to month.

Pre-Crisis Financial Planning

Starting a savings account or plan features a surefire way to be prepared for unforeseen costly emergencies. It could be anything from a malfunctioning boiler or a household flood. In lieu of the family crisis, being prepared financially can cushion the devastation of the event. Nevertheless, learning new spending habits may be challenging for a compulsive spender. Keeping up with the Joneses is not worth the superficiality of terminal financial distress.

Obviously, there are only two solutions to the spending deficit equation; either:

  1. Increase one's salary significantly
  2. Start living below your financial means drastically.

Unfortunately, not everyone is able to achieve either objective. In fact, for many consumers they require both goals to the spending objective, start making more and stop spending until they can see their w ay out of the red. As the old adage, "The more you make, the more you want" is true. But the problem grows when people begin to spend more than they make.

The end result is a financial avalanche. Even if you think that you have the rob Peter to pay Paul down pat, it's only a matter of time before everything could snowball. The reality is that the only financial rescue team available to you may be a personal loan or debt consolidation loan.

To prevent the dominoes' effect of financial stress take over here are a few steps to quell your finances in the right direction:

  • Compile a list of current bills
  • Devise a list of household operations
  • Review areas to cut spending (ordering out, entertainment, shopping sprees, etc)
  • Develop a balanced budget to live on only 60 percent of your household income
  • Sell any personal commodities that are beyond one's financial means.
  • Get organized on your PC with either a Quicken or Microsoft program.
  • Work to balance your budget by paying of bills
  • Detail a goal with realistic terms
  • Stock between five and ten percent a month into a savings account or a money market account on a regular basis.

Fast Debt Solution

Since the idea of taking on a second job is an unpopular choice for most people, a rapid debt solution is a debt consolidation loan. Since the loan is designed to pay-off current debt and stretch out the repayment term over time, it can be the ultimate debt solution for managing one's finances.

Financial Crisis Savers

Personal loans are either secured or unsecured loans. Secured loans place the borrower's property up for collateral. (For example, a house, real estate property or a high end recreational vehicle). An unsecured loan usually has a higher interest rate. Since the financial institution is at greater risk of a defaulted loan for a person with poor credit, the fees are reflected in the interest rate.

Pretty straightforward, debt consolidation loans – repay all current bills. Then the loan charges the borrower an interest and monthly charge. For its overall convenience and ease is considered an immediate way of quelling financial stress.

For the type of emergency, where one needs less than a thousand dollars, a payday loan is just the remedy. The best way to outsmart a payday loan is by paying the loan immediately and avoiding going with a plan that has a pre-payment penalty.

During a family or financial crisis it's comforting to know that financial squadrons otherwise known as debt consolidation, personal loans or even payday loans may be the option for a monetary rescue.

© All rights reserved.

About The Author

Holly Bentz is a finance writer and a contributor to About Personal Loans.

Dobler Consulting Inc
2339 Warwick Dr
FL 34677
United States

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Tuesday, January 17, 2006

Managing Finances for a Better Credit Rating

Holly Bentz

In the world of finances it is all about managing debt to maximize one's buying power. Since a consumer's credit score has a direct correlation on any financing or loan authorization, reviewing the accuracy of a credit report is a consumer savvy. Consequently, managing one's personal finances for a better credit rating is critical.

Did you know that when financial institutions consider authorizing loan approval, they review your payment history? Even if you were unemployed when you were inundated with medical bills, the balance will appear on the credit report.

FACT: Over thirty-five percent of American consumers impaired with a low credit score -- due to expensive hospital and medical bills.

About Your Credit Report Card

A credit report is very similar to an adult life quality report card. It details such personal information as:

  • Where a consumer works
  • Where the individual resides
  • Have you ever been convicted of a crime
  • Has the individual ever been involved in a lawsuit or claim
  • How you pay your bills

Credit reports or your report card are kept by organizations referred to as consumer reporting agencies (CRAs). These credit bureaus collect, compile and sell consumers credit documents to businesses. Banks and lending institutions approve applications based on credit. Certain insurance companies and employers evaluate one's credit before writing a policy or extending employment.

Subsequently, Americans should always review their credit score to ensure the information is accurate. Financial advisors recommend that all consumers should report any updated, omissions or inaccuracies. Specifically, for the person planning to apply for a mortgage, auto loan or other personal loans (secured or non-secured) an exact truthful credit report is important. Moreover, the Fair Credit Reporting Act (FCRA) authorizes consumers the opportunity to submit corrections.

Another aspect of managing one's finances with a better credit score is by checking the accuracy of information detailed on the credit file. Nonetheless, it may drastically accelerate the credit-granting process.

On the other side of the spectrum, consumers who are denied credit have the right to acquire the following information:

  1. The credit bureau's name (CRA)
  2. The CRAs address and all contact information
  3. A copy of a free report within 60 days of a denial
  4. In lieu of fraud, being on welfare or unemployment, consumers a allowed one complimentary copy of their credit report

Generally, the cost of a credit report starts at nine dollars.

Credit Reporting Agencies and Credit Bureaus

There are three major credit bureau agencies (Experian, Trans Union and Equifax). All agencies may have different information about a consumer. To compare and check all your credit files from all the top agencies, here is their address:

P.O. Box 2002,
Allen, TX 75013
(888) EXPERIAN (397-3742)

Trans Union
P.O. Box 1000
Chester, PA 19022
(800) 916-8800

P.O. Box 740241
Atlanta, GA 30374-0241
(800) 685-1111

After you obtain a copy of your credit report, the first step to managing your finances begins with noting any discrepancies. Then, protect your rights under the FCRA Act by contacting the source of the erroneous information and the credit reporting agency by writing a letter.

Sample Dispute Letter


(Your Information)

Name Address City, State, Zip Code

Complaint/Dispute Department Name of Credit Reporting Bureau Address City, State, Postal Code

To Whom It May Concern:

Attached you will find a copy of a report I received. The items of dispute are circled on the attached copy of the report I received.

1.) (Detail the disputed items in a list with the credit account, name of the creditor the type of item, such as credit account or judgment etcetera)

This above item is (inaccurate) because (detail what item is inaccurate or incomplete and why). I am requesting that the above named item be removed or corrected (or state the specific change).

Attached you will find copies (describe any enclosures that depict a record of payments or any court documents) which demonstrate my position. Please research this issue and (remove or amend) the disputed item(s) as soon as possible.


Your name

Enclosures: (List what you are enclosing)

Remember to include duplicates (only) of the documents that corroborate the correction.

Facts about Accurate but Negative Credit Report Information

There are scenarios where negative information may be accurate. Unfortunately, there is a general period of time that the information must remain on a credit report. Usually, the time limit is seven months; however the following list details the exceptions:

  1. Any information regarding criminal convictions may be reported for an unlimited time span.
  2. Any credit information provided as a response to an application for a salary position worth over $75,000 does not have a time limit.
  3. Bankruptcy information can remain on a report up to ten years or more.
  4. All credit information reported as a result of an application worth over $150,000 of credit or life insurance does not have a limit.
  5. Any unpaid judgments or lawsuits have a credit report life of seven years or more -- until the statute of limitations has expired (whichever is longer).

In summation, despite negative accurate information, paying your bills on time and correcting any errors is a good way to manage your finances for a better credit rating.

© All rights reserved.

About The Author

Holly Bentz is a finance writer and a contributor to About Personal Loans.

Dobler Consulting Inc
2339 Warwick Dr
FL 34677
United States

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Monday, January 16, 2006

Making Money in Equity Finance

William Cate

Making Money in Equity Finance
By William Cate
Published October 2001
[] []

Do you offer financial services to businesses outside the United States?
You could be earning an additional US$300,000/year taking your clients
public in the United States.

Here are ten possible reasons why non-U. S. Companies should go public in
1. Their country lacks a stock exchange.
2. The country's stock exchange won't list "growth" companies. In several
countries the national listing requirements are modeled after those of the
New York Stock Exchange. This is true of the Singapore and Kuala Lumpur
Stock Exchanges
3. The local stock exchanges lack credibility. This is true of the
Vancouver and Alberta Stock Exchanges in Canada.
4. The company understands the benefits of being valued in U. S. Dollars,
instead of the national currency. Currently, the USD is the World's
business currency.
5. The company that wants to be listed on stock exchanges in Europe and
Asia and realizes that the American filing is the key to cost savings
6. The company understands that they can no longer trade their shares in
the States under a 12g Exemption.
7. The company realizes that their local investors would prefer to hold U.
S. Dollar demominated stock.
8. The company suspects that there is a segment of the U. S. Market that
would buy their stock if it were easily available in the United States.
9. The company realizes that having a U. S. Dollar demominated stock allows
management to make bargain acquisitions for their stock when the national
currency's exchange rate falls against the USD.
10. Management is taking the company global and wants to save on taxes.

I can offer twenty more reasons why non-U. S. Companies should trade in
the United States. Canadian, Israeli, and Japanese businesses are the
primary companies seeking to trade their shares in the States. The U. S.
listing advantages that they take for granted are available to any firm
anywhere in the World.

I offer a basic U. S. Spinoff package. It takes a foreign company public
in the United States. It qualifies the company's shares to trade on the
Over-the-Counter Bulletin Board (OTCBB). This spinoff package includes
legal and audit costs. The turnkey package costs: US$125,000 and one
hundred thousand shares of the company's stock.

I'd like to develop a network of non-U. S. Business Associates capable of
marketing this basic spinoff package to their clients. Potential associates
should be venture capital firms, M&A firms, Merchant Bankers and Business
Consultants. My marketing approach is risk free. If you want the details of
my proposal, please email me with "risk free" in the subject field.

To contact the author: Visit the Beowulf Investments website: [] Or, visit the Global Village Investment Club Website:

About the Author

He has been the Managing Director of Beowulf Investments [] since 1981 and is the Executive Director of the Global Village Investment Club []

Dobler Consulting Inc
2339 Warwick Dr
FL 34677
United States

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Lions And Loans: Why Finance Should Always Be Personal

Rachel Lane

Different types of loans are available for almost every aspect of your life: personal loans, car loans, secured and unsecured loans, home loans, homeowner loans, student loans, graduate loans and career development loans (CDL). If you've suffered from credit problems in the past and now hold sub-prime characteristics, then you will be eligible for adverse credit and adverse loans.

You can always borrow money these days, but it is crucial to read the small print as the difference between interest rates is enormous and stories of people forced to pay off amounts which are five times the amount of their original loan are not uncommon.

There are also numerous stories on unemployed couples being sold loans, such as the case of Julie and Kevin Davies, reported by the BBC. The couple were already experiencing difficulty in paying off their existing debts of £4,000, when they were sold another £20,000 loan by Lloyds TSB.

Loans of £1,000 to £25,000 can be taken out and repaid over a period typically varying between six months and 10 years depending on your credit history and available finances. Loans are usually secured or unsecured. Secured loans are tied to your house, so you can be forced to sell the house if you are unable to make the repayments. Unsecured loans do not impose the same restriction, though a default on repayments may result in being "credit blacklisted". Once blacklisted, you may get future credit card, mortgages and hire purchase applications rejected, as well as face a potential higher rate of interest for all existing debts.

It is absolutely crucial that you shop around for a loan and not just through the high-street banks. The internet offers a wealth of information available and there are many sites which compare the prices of products, and to really ensure you get a good deal – compare the different comparison sites. In the UK moneyfacts, moneyextra and moneynet ( ) offer price comparison services for a wide range of loans, amongst other financial products. These sites also offer consumer information guides, which you can either print directly off the website or download on to your computer.

Do read all the terms and conditions carefully and ask friends, family and your financial adviser / bank adviser if you don't understand a particular statement. The annual percentage rate (APR) is particularly important and can make a difference of thousands of pounds over the term of the loan.

Unsecured loans can be purchased from building societies and banks, as well as certain high street shops. Unsecured loans may be taken out for something specific or simply to make life more 'comfortable'. The process usually involves:

  • Requesting a typical amount for the loan
  • Discussion of interest rate (APR) and possible loan payment protection insurance
  • A credit check, you may wish to get one of these first, so you know what to expect
  • Reading the terms and conditions and then signing the agreement
  • Money can then be transferred into your account

In the discussion of secured versus unsecured loans, moneynet explains that although secured loans can offer lower interest rates and repayments, many people do not wish to jeopardise the potential loss of their home in the default of a repayment of a secured loan. In unsecured loans, pay attention to the difference in APR, term of the loan and any additional charges such as an early settlement charge or redemption penalty.

About The Author

Rachel Lane writes for the personal finance blog Cashzilla: Rachel is a disillusioned, disaffected and broke graduate, exploiting new media for financial therapy.

Dobler Consulting Inc
2339 Warwick Dr
FL 34677
United States

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Life insurance – wise investment in personal finance or excessive caution?


Life insurance is typically taken out to offer valuable financial protection for your family in the event of your death, upon which a payment is made to your financial beneficiaries, heirs or family members. The extent of this payment will depend on your insured sum and earnings. Life insurance and life assurance may be interlinked in advertisements, though bear in mind the two policies are different. Life assurance is a form of financial protection which is also an investment, as you should always get a pay-out at the end of the term of the policy. Life insurance on the other hand is simply financial protection for your family, avoiding the issue of debt in the event of your death.

According to an article by the Fair Investment Company, the British life insurance industry shrank to almost half the size of the pensions industry last year and according to the Association of British Insurers, less than 50% of UK households hold a life insurance policy.

In their most recent newsletter about this issue, the Association of British Insurers found that 25% of mortgage holders had insufficient life insurance to cover their debt. The ratio of new life insurance policies to new mortgage loans was apparently 68% in 1994, but by 2004 this had dropped by half to 33%.

The absence of mortgage life coverage poses a serious risk for the dependants of homeowners. If banks were to embark on wide scale repossessions as a result of this absence of life insurance, this would impose a risk on their loan books and reputations. The Association of British Insurers also state that one of the main reasons behind the increased gap between mortgage loans and insurance is the emergence of people remortgaging their property to take advantage of equity release through a rise in value, without insuring their borrowing. In their report it was stated that around 63% of new mortgage loans were remortgages or further advances, compared to 34% in 1994. Egg reported at around the same time, that three out of four of these new loan homeowners had no intention of insuring this additional debt. This is particularly worrying if couples are remortgaging their property later in life – towards retirement, given that should anything happen to the breadwinner, the partner would be left with significant debts without the capability of paying the loan back.

Reasons for the downward trend in life insurance take-up include:

* Relaxation in lending policy – increased competition in the mortgage market means that lenders are not forcing life insurance policies on their customers

* High house prices have stretched homebuyers, in particular first time home-buyers, in terms of their mortgage repayments, that the additional costs of a life insurance policy are deemed too expensive

* There are more households with no dependents

If you're interested in researching a life insurance policy, make sure you shop around. UK websites such as moneynet ( life insurance ) provide life insurance and life assurance information guides, as well as providing price comparison research for the different products. In the states, the website also offers a similar service.

Because of the various factors listed above, people have also become less familiar with the term life insurance and without the awareness there is little recognition of the importance of this type of insurance. However as speculation increases that UK households are not coping with their debt, so should the awareness of life insurance as an essential product in the personal finance portfolio.

* * * * * * * * * * * *

About Rachel:

Rachel writes for the personal finance blog Cashzilla:

Rachel is a disillusioned, disaffected and broke graduate, exploiting new media for financial therapy.


Phone: 0131 561 2251

Dobler Consulting Inc
2339 Warwick Dr
FL 34677
United States

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