Subprime Mortgages

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It sounds terrible. Subprime Mortgage. But in reality it has many different benefits that other loans do not.

A subprime loan typically has a higher interest rate than other loans because the people who need it usually have a poor credit history or very low credit score.

These high interest loans do make people pay a lot more for a house they want but actually have some benefits.

There are many financial institutions that specifically deal with subprime lenders. This means they know how to help those with poor credit.

Some banks also offer prime and subprime mortgages because they know their community well and some areas just don’t have the types of jobs that prime mortgages will need to ensure their monthly payments.

It can be embarrassing to go to a local bank if you live in a relatively small town so you may want to choose a subprime only lender.

A good benefit of a subprime mortgage is that you don’t have to take the time to raise your credit score. This can take years of payments and credit building and many people just don’t have the time for all of that.

They realize they made some late payments here and there but are past that and want to own a home. Not everyone with bad credit got it by not paying their bills on time.

Many times, wives and husbands who are irresponsible can annihilate their significant other’s credit and even after divorce, it’s still bad.

A subprime mortgage to many people is a chance for a new beginning.

Rard Haugabrooks -Chief Review Appraiser

Real estate professional with over 16 Years of experience in residential and commercial appraisal/review (7 Years), foreclosure/loss mitigation (8 years), finance (4 Years), supervisory /management (13 Years), acquisition (7 years) and marketing / sales/sales management (7 years) experience. In depth knowledge and experience in Foreclosure Related Topics including Foreclosure Procedure in multiple states, Loss Mitigation, Bankruptcy, Financial/Credit Counseling Innate ability to horizontally fashion long term business plans and vertically design processes to execute business plan milestones. Consistent track record of increasing productivity, improving quality, enhancing customer satisfaction and reducing cost through management style and knowledge of information systems.

Central Florida realize their potential and acts as a uiding light through the rehabilitation process and rejuvenating the community one home at a time!

Second Mortgage What Is It Exactly

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Everyone has heard a friend or relative complain about having to take out a second mortgage but don’t really know what that means. Let’s find out!

The real term for this is called a home equity loan. This is a common loan type that homeowners can use for whatever they want.

A home equity loan requires that you use your house for collateral just like a normal home loan. There are

different types of home equity loan out there and you can always use the money for whatever you want.

College, bills, and home repairs are some common uses. You will need outstanding credit to be approved for this kind of loan though.

A closed end type home equity loan gives you a big chunk of money immediately and you can’t get another loan until this one is fully paid.

The amount you can get depends on factors such as how much your home is worth, your income, credit score, and similar things. A closed end loan usually comes as a fixed rate type and allows you up to 15 years to pay it off.

An open ended home equity loan is a little different. This loan will let you borrow money whenever you have a need for it.

The loan lender will set up a line of credit that is pretty much based on all the same factors as the closed end loan. These usually have an adjustable rate and you can make payment for 10, 15, or even 30 years.

So why are these called second mortgages Because you are adding yet another loan payment that uses your house as collateral and adding another monthly payment. Though tempting, it can cause you a lot of problems in the future.

LET'S TALK REAL ESTATE

Rard Haugabrooks -Chief Review Appraiser

ROI Homes is helping investors throughout Central Florida realize their potential and acts as a guiding light through the rehabilitation process and rejuvenating the community one home at a time!

Signs Of Good Mortgage Brokers

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A good mortgage broker is something every potential homeowner or experienced real estate investor needs to have on their side.

There is no shortage of brokers out there and they come in all shapes and sizes with various personalities.

What people don’t realize is that if you have a very  helpful and friendly broker, it can really make a difference in your entire attitude about getting a loan.

When you have a good mortgage broker, you will usually have a pretty stress-free loan process and they will be able to explain it all to you simply and easily.

So how do you know if you have a good broker There are some very simple things that will tell you right away if your broker is good or not.

One of the best ways to judge a mortgage broker is just with common sense. Does your broker like to talk and have an excited attitude

That can definitely improve the experience for you but there are other factors to consider. Punctuality is very important and someone missing dates can be infuriating.

If your broker says they will call at 6 pm and they miss it every time, it might be a problem. You really want someone very punctual.

The broker should be able to list off mortgages and programs by heart as well. It’s not a good sign if they are flipping through a book every few minutes to look up terms and arrangements.

A good way to tell if your mortgage broker is good is to make sure they are willing to answer any question imaginable without getting frustrated.

Ask them something a couple times in one sitting just to see what they do. If it’s obvious they are annoyed and don’t ask why you repeated it, they might not be paying attention and just reciting some spiel they use on everyone.

Home Remodeling Tips

Part I

Are you tired of the same old look and feel to your home? Or has the thought of selling your home in the near future crossed your mind? If so, it is a good idea to consider remodeling certain aspects of your home.

Of course, this does not mean you need to embark on a major renovation project on your home as this can become very overwhelming and expensive.

Instead, it is better to take a more conservative approach and look at the possible cosmetic improvements which can be made to create an overall improvement. This would be small projects such as remodeling your kitchen, remodeling your bathroom, painting, putting down new carpet, etc.

The kitchen and the bathroom are two of the most scrutinized rooms of the house. Therefore, these are the most popular remodeling areas as well. Let’s explore a few ways you can improve the overall appearance and value of your home without breaking the bank.

Kitchen Remodeling

The kitchen is one of the most scrutinized rooms of the house. Therefore, it should be one of the first things you look at if you’re looking to improve the value of your home.

There are some small things you can do that will provide a great impact.

The kitchen sink is where you probably spend most of your time. Look into updating your sink to a more modern one with extra added features.

Also, take a look at your kitchen appliances. Are they outdated and worn? If so, look for some great deals on appliances to help give your kitchen that brand new feel.  

Same thing goes for your cupboards and cabinets. Are they in good condition? Are they eye-catching?  If not, give them a bit of a facelift. This can be done by replacing them if they are simply out of date. 

Same thing goes for the kitchen countertops. Just replacing the countertops alone can add a completely different look and feel to your kitchen.

A simple coat of fresh pain can rejuvenate your entire kitchen. With a fresh coat of paint applied to the ceiling, walls and cabinetry, you can literally take years off the appearance of your kitchen and make it look much cleaner.

Focus on using neutral colors that will make your kitchen look cleaner and larger.

Want a new backsplash? Inexpensive glass mosaics, natural slate, porcelain tile or even a faux paint finish can be used to create a backsplash that is both unique and custom.

Adding lighting to your kitchen will increase the appeal as well as the appearance of size and overall brightness. Lights can be added almost anywhere in a kitchen. Possible ideas include:

· Above cabinets

· Under cabinets

· From the walls

· From the ceiling

There are many different window treatments that can be utilized to add to the appeal of your kitchen. Venetian blinds, Roman shades and wood blinds are all great ways to add style while keeping out the glare of the sun.

If your kitchen has more of a country style, consider adding lace or some other type of fabric curtains to provide a warm and pleasant appearance.

Bathroom Remodeling

Does your bathroom need a new shower stall? 

The most important thing to remember, when looking to buy a new shower stall, is the amount of space that you have available.  If you are going from one bathtub to a bathtub and a standalone shower, there is a chance that you may be limited on space.

If that is the case, you may find your options to be somewhat limited. That is unless you are planning on remodeling your entire bathroom. If you are planning on changing your entire bathroom around, it may be easier for you to find and purchase the shower stall of your choice.

Once you have decided that you would like to purchase a new bathroom shower stall, as well as how large of one you can purchase, you will need to start shopping for your shower. Although you may expect to find everything that you need all in one place, it may be a little bit difficult to do.  

Whether you are looking a trendy looking standalone shower or the most affordable one, there is a good chance that you will be able to find exactly what you were looking for. Just in case you were wondering, most standard standalone showers start selling for around two or three hundred dollars, and from there the prices goes up.

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GREAT RENTAL INVESTMENT SPECIAL! FIX AND FLIP

STARLITE DR. ORLANDO, FLORIDA 32810

INVESTMENT ANALYSIS
Market Value	$ 80,000
Asking Price	$ 49,900
Estimated Repairs	$   9,000
Total Nominal Costs	$ 58,900
Monthly Rental Rate	$ 1,100
Annual Revenue	$ 13,200
Gross Return of Investment	22%

  

PROPERTY  DETAILS

List Price:          $ 49,900 Square Feet:     1,560 Bedroom:          4 Bathroom:      2 Construction:     Block Comments: Good schools, great neighbors. Family neighborhood. Must see to Appreciate. Great rental income. FIX and Flip this house with our financing.

REHAB SHEET

Roof  $               -   Flooring  $      Structure Y  $     7, 245.00 Room  $        Bathrooms  $     Kitchen(lin ft.)  $      Landscaping 1  $         200.00 Miscellaneous 1  $         575.00 Mechanical Equipments 1 $       1,000.00 Total  $      9,020.00

Great Opportunity, Great Buy in Orlando

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Orlando House below Cost : Great Opportunity, Great Buy

Discover the Truth About Your Personal Credit Report

Were you aware your personal credit report can be the determining factor in your getting a job? Did you know your private credit report can cause your personal auto and life insurance rates to go up? Just for your information it can also stop you from being insured.

Now did that get your attention? If it didn't you have to be asleep at the wheel. Read on to discover other tips about your personal credit report you may not have known.

Most people understand what a personal credit report is. However, most people don't realize the number of companies and government agencies which have access to your credit information. Not only do they have access to it; they use your credit history to make decisions, which can affect you for the rest of your life or at least in the foreseeable future.

One of the companies that will access your credit report is the insurance companies. You may not know it but when you complete an insurance application and sign it; in most cases you are giving them authority to check your credit history. Depending on what the insurance company’s standards are, your credit score and credit history may keep you from being insured or even cause you to be insured at a higher rate.

Your federal and local government agencies also have access to your credit report. One of the major drawbacks about that is they don't have to reveal to you or get your permission to check your credit history. But in order to get this information these agencies must have a viable reason for obtaining this information.

One agency that you and other people may not like to hear about is the IRS. (Internal Revenue Service). If you are being audited they can track your credit history to help determine if you are committing fraud or not reporting all your income. The way they would be able to use your report is if you have paid off large amounts of debt, but did not report enough taxable income to have done so.

One way your credit report is used is by employers. Often time’s small and large employers will use the credit report to help make character decisions about you. Another way is if you are going to be in a position of handling money, they want to know if you are deeply in debt. It's hard to believe your personal credit report can be used that way, but it is perfectly legal.

It is true the credit card companies and loaning institutions want to know if you pay your debts on time. But they also want to know that you have enough income to pay any new loan they may make to you. Your personal credit report will not only show the total of the loan but the monthly payment amount.

Many of the lenders will use this information to set a pre-determined credit amount or loan amount. If the total payments plus the new loan payment is above what is called the debt to income ratio they may not grant the loan at all.

As you can see your whole life can be affected by your credit report. Therefore it is advisable for you to keep your personal credit report in the best shape you can.

Tips About Your Free Annual Credit Report

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Did you know a review of your free annual credit report can save you thousands upon thousands of dollars? That is a staggering thought in itself; don't you agree? But there is something worse that can be happening to you. Your personal reputation and good credit could be ruined forever. You can lose your personal reputation and thousands of dollars if you don't know someone stole your identity. The following tips will help to keep this from happening to you.

Identity theft has become an illegal enterprise of thieves which has profited by hundreds and hundreds of millions of dollars a year. One of the main reasons it has become so profitable is that people, just like you, have no idea their identity has been stolen. The first way you may find out about it is when the following scenario’s or something similar happen to you.

One evening you and your family are sitting in the family room watching a little TV and relaxing. Suddenly you get a phone call from a mortgage company, which you know nothing about, wanting 90 days of back mortgage payments. As you’re standing there in confusion and disbelief this guy is telling you, if you don't pay, legal action will be taken.

If not that scenario, then perhaps you get a credit card bill for a credit card you have never seen. You open the bill and there is $5000.00 worth of charges for electronics charged against your name. It also shows you are more than 60 days delinquent in payments. It is mind numbing and debasing to you and your family. Your first thoughts are how could this happen?

Chances are if this happens to you it is because your personal identity has been stolen. This thief has used your social security number, your driver’s license number, date of birth and other personal information to get approved for the credit card or loan. The many ways this can be done are beyond the scope of this article. However, there is a way you could have been alerted much sooner and perhaps shut it down before all the damage was done.

In July of 2005, the Federal Government of the United States, passed legislation that gave every citizen in the United States, including you, to be able to get a copy of their free annual credit report. All you have to do is go on-line, write or call and request a free copy from the following 3 major credit reporting agencies:

1. Equifax: http://www.equifax.com/home/  Phone:  1-800-525-6285
2. Experian: http://www.experian.com/   Phone: 1-888-397-3742
3. TransUnion: http://www.transunion.com/ Phone: 1-800-680-7289

Not only can you get your free copy of your credit report, each of these credit reporting agencies, have other programs which can help you. In case of Identity theft they have free information on how to repair your credit report. They offer 24 hour monitoring of your credit report. In addition they provide other programs which can help keep your credit rating safe.

For instance you can put a freeze on your credit report. This prevents anyone from checking your credit without your express approval. However, just for your information a freeze can also slow down the process when you apply for new credit.

As you can see, by learning about your free annual credit report, you have other services from the Big 3 which can help protect you. If you suspect fraud, identity theft and are suddenly getting approved for credit cards and other loans; it's time to grab your free annual credit report.

How To Find and Check Out a Consumer Credit Counseling Agency

Are you and your family desperate for relief from your creditors? Are you receiving:

1.    Bill collection notices in the mail
2.    Bill collection phone calls
3.    Threats of wage garnishment
4.    Threats of legal action
5.    Threats of car repossession
6.    And the list goes on

Are you looking for a possible solution to keep you out of bankruptcy? Perhaps it's time for you to find a consumer credit counseling agency. One that is a proven and trustworthy company that knows what they are doing.

Frankly it’s not hard to find a credit counseling service. Chances are you can pick up your local yellow pages and will find nationwide companies and local companies as well. The hardest part of it is to make sure these companies are trustworthy and reliable.

It is imperative for you to check out these companies. One of the best places to start is with your BBB (Better Business Bureau). First thing you should determine is if the counseling company is in good standing. However, if the answer is yes don’t stop there with your questions.

Take the time to dig a little bit deeper with the BBB. Ask if the credit service has or had any complaints filed against them. Then ask if any of the complaints are still outstanding and if the others have been resolved.

One of the things you will find for many of these companies is that the registered complaints may well be for the same thing. This will give you a clear indication this particular company is not trust worthy.

Another way for you to check out the consumer credit counseling agency is to check with your states Attorney General. Most states have a division of Consumer Affairs which work under the Attorney General. If complaints have been filed against a counseling service thru the AG’s office they will be a matter of public record.

Thanks to the World Wide Web, chances are you won’t even have to leave the comfort of your home to check out these companies. In most states you will be able to go on-line to your states government web site and find what you need. This can be especially helpful if the company you are thinking of working with is from out of state.

The Internet is another great source for finding consumer credit counseling agencies. All you to do is use the Google search engine or a similar one and you will be provided with 100’s of credit counseling companies. However, it pays to do your due diligence on the company before making the decision to go with them.

Frankly, your best bet is to stay local, but you may not be able to. You should make sure regardless, if the company is local or not, they have been in business for a minimum of five years or longer. If a company has been doing business in your state that long, it is good chance they are above board and reliable.

Just as in any other business dealing there are in and outs you need to know about. However, when it comes to a consumer credit counseling agency you must make sure you cross every T and dot every I.  

The Truth About Debt Consolidation Loans and Bad Credit

Debt consolidation loans and bad credit is the cry heard more and more in today’s financial news? Have you become one of those borrowers who have found it extremely difficult to consolidate your outstanding debt because of bad credit? If you are part of the information contained in here, this will give you a bit of light at the end of the tunnel.

You like so many others in today’s world of instant gratification many have fallen into the biggest nightmare of all. Your credit was so good, 5 or more credit card companies’ extended more than $50,000 in credit lines to you and before you knew it you had maxed the cards out and borrowed on the equity of your home to try and pay them off.

When that didn't work you fell behind on all your bills including your house note. Within six months you had gone from a credit score of 725 to a low of 595. Which means you will now have difficulty getting any type of loan because of bad credit.

However, this doesn't mean all hope is lost. It means you are going to have work a little harder to find companies that will help you reorganize your debt. This is the only way you will be able to get debt relief and start rebuilding your credit.

There are financial organizations which specialize in debt consolidation loans for bad credit applications. However, you need to be careful because there are some drawbacks to working with these companies. Because of your bad credit history you are considered to be in a high risk category for payback of the loan or loans.

Many of these companies will take the risk of loaning you the money, but you are going to pay out the nose for the interest. On top of the interest you may have an upfront application fee, plus other fees buried in the fine print of the loan. The end result being you will end up paying back more money, to these lenders, than what you would have paying back your debts originally.

You need to understand that not all of these companies are out to rip you off though. Many of them are perfectly legitimate financial institutions which work with folks like you that have a history of bad credit.

When working with a good company, you may have to agree to pay a higher rate, but one that is much lower than the rates being charged by the credit card companies. In addition, some of these better companies will require you to undergo some financial counseling. The purpose of this being to get you the necessary tools you need to keep from getting into trouble again with your credit.

These good companies want you to succeed in your plan to reorganize your debt. They will do everything they can to help you get your finances squared away. As you continue to work with them over a period of time you will see your credit score start to come back up.

You can recover from the strangle hold that bad credit and mind numbing debt have on you. It means you will have to work harder to find a debt consolidation loan company to work with you. However, if it puts you on the road to debt recovery and a positive credit history it will be worth all the extra work and cost.

Let's Talk Investment :CONTACT ME

ROI Homes is helping investors throughout Central Florida realize their potential and acts as a guiding light through the rehabilitation process and rejuvenating the community one home at a time!

We scour through hundresd of homes for sale, analyze properties to find the ones which after renovation have the best return on investment and pick them up and offer them to investors at wholesale price. We have several homes in the 50-60,000 range that after 15-20,000 worth of renovations will be able to be resold at reatail for $110-120,000. I can show you these properties.

Discover Proven Debt Relief....Christian Debt Consolidation

Do you know for sure Christian debt consolidation is legitimate and not just a scam? The truth is there are some of the so called "Christian Debt Consolidation" companies that are rip offs. However, there are many very legitimate, non-profit, faith based organizations to help Christians.

There are some specific things you should check for to determine if it is a legitimate Christian service or not. The information you gather here will help you make the right decision.

One of the first steps you should take in choosing a true Christian organization to help you is to check with your local Pastor. There is a good chance he or she will be able to refer you with no problem. However, if your local Pastor can't help you, one of the larger Churches in your area will be able to assist you.

Many of today’s Christian congregations have a specific ministry set up for the purpose of debt counseling. Not only will they council you about debt consolidation, but they will provide you with a full spectrum of biblical based financial counseling.

These counseling sessions will cover:
1.    Money Management
2.    Budgeting
3.    Debt Elimination
4.    Debt Relief
5.    Christian Debt Consolidation
6.    Debt Reorganization
7.    Possible Bankruptcy

Each of these programs will be presented and taught to you so as you won’t have to comprise your Christian doctrine.

When you first began talking with any organization you always verify they are a legitimate non-profit service. If you are talking with them on the phone or in person you should ask them for proof of their non-profit status. You will find the legitimate ones will have no problem with providing documentation.

However, if they are on the questionable side of being a legitimate Christian service they will do what they can to avoid producing the appropriate documents.

A very good indication of a true Christian counseling service, there will be no high pressure tactics to get you to sign up for the service. If you should detect or sense the councilor you are talking to is using “closing techniques”, it would be best to terminate the conversation.

High pressure closing tactics are put into play for one reason and one reason only. It is to get you to sign on the dotted line right that instant. In other words they have their own interest at heart and not yours.

A legitimate Christian debt councilor will not use “sales closing” strategies. Their goal will be to get a commitment from you to commit to changing your financial life. These folks know for a fact, unless you are fully prepared to make a lifestyle change, in your spending, money management and budgeting, nothing will change.

The other not so “true Christian debt service” will not care if you make any changes or not. Primarily they want you to come crawling back to them again in a few years to put more money on their bottom line. In fact they know if they play their cards right you will be a lifetime customer.

As you have learned there are legitimate and not so legitimate Christian debt consolidation organizations. It is important for you to be able to make the right choice, so you will indeed have a solution for your debt problems.   

Let's Talk Investment :CONTACT ME

ROI Homes is helping investors throughout Central Florida realize their potential and acts as a guiding light through the rehabilitation process and rejuvenating the community one home at a time!

We scour through hundresd of homes for sale, analyze properties to find the ones which after renovation have the best return on investment and pick them up and offer them to investors at wholesale price. We have several homes in the 50-60,000 range that after 15-20,000 worth of renovations will be able to be resold at reatail for $110-120,000. I can show you these properties.

Tips About American Credit Counseling

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You have read all the hype and listened to all the commercials about American credit counseling, haven't you? Almost every one of them has promised to get you out of debt, eliminate your bad credit report and do it all legally. Right?

In addition you have heard many of them proclaim to be non profit. You begin thinking "Oh boy! There going to do it for free". Guess what? Don't you believe it! If you do you're in for a rude awakening.

Many of these companies that make these claims are just barely within the law. They aren't quite cheating you and lying to you, but they are pretty darn close. As you get into the fine print of their claims and contracts, you begin to discover the real truth.

First of all these companies can no more expunge your bad credit than the man in the moon. Much less do it legally. The only legal way to get bad credit off your credit report is to pay what you owe.

But the fact is every late payment, defaulted loan and any other piece of bad credit goes on your report, including the record of your debt consolidation stays on your record. Currently all this information will be available to lenders, insurance companies, employers and others, for a period of seven years. What good are they then? You might ask.

The American credit counseling company can take the burden off your shoulders of negotiating with the companies you owe money to. They will set up a mutually agreed on plan with your lenders on consolidating all your payments; into one lump sum. There is also a chance they can get the interest rates lowered on your loans.

In addition, they are experts at stopping the collection calls and may even be able to reduce your late and over balance fees. This is all well and good. But guess what, you can do it yourself, of course these companies don't tell you that. Why, because they want to get paid for their service.

Next let's talk about the nonprofit claims. It is true many of these companies can file for and be granted nonprofit status by the United States federal government. But everybody that works for those companies has to make a living. So you will be charged a fee for using their service.

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You will be surprised to learn many of these companies don’t disclose these hidden fees to you. After you have contracted for their services you will send them your lump sum payment. However, prior to disbursing your money you were paying before; they take their hidden fee off the top.

What this means for you is the amount going to your lenders is less than what you thought you were paying. The possible end result being that it still takes you years to pay off the debt. Plus the fees could end up being more money than the lowered interest rates benefited you.

It is extremely important for you to get every bit of information you can from the American credit counseling companies. They can help you, but they can also make your financial situation even more desperate than it already is. 

ROI Homes is helping investors throughout Central Florida realize their potential and acts as a guiding light through the rehabilitation process and rejuvenating the community one home at a time!

We scour through hundresd of homes for sale, analyze properties to find the ones which after renovation have the best return on investment and pick them up and offer them to investors at wholesale price. We have several homes in the 50-60,000 range that after 15-20,000 worth of renovations will be able to be resold at reatail for $110-120,000. I can show you these properties.

Tips About Unsecured Debt Consolidations

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Are you ready to throw in the towel on ever getting out of debt? Don’t do it. You may have a chance to reduce your debt with unsecured debt consolidation loans. These loans are somewhat more difficult to obtain, but it is well worth the effort. You will find tips on how to use unsecured consolidation loans to put you back in charge of your debt. Instead of the debt controlling you, you will control your debt.

First, it is important for you to understand the difference between unsecured loans and secured loans.

Let’s suppose you are a student just starting out your freshman year of college. Shortly after being accepted by your school of choice, you started receiving pre-approved credit cards. You accepted the offer and within 10 days or so you received your card. The first thing you did is go out and buy text books for your classes; to the tune of several hundred dollars.

Being short on cash you put it on your new credit card. You just made your first unsecured debt. If you forfeit on the loan for some reason, the credit card company can sue you, but they can’t take your school books from you. You did not have to use the books for collateral to get the cash to pay the book store.

Now let’s say you need to take a student loan to pay tuition, lab fees, additional books, housing, food and etc. Because of the amount you need, the bank or lending institution has said they will loan you the money. However, to get it, you or someone, is going to have to put up collateral to secure the loan. Just in case you forfeit on the loan, this gives the bank the right to foreclose on whatever property was put up to secure the loan.

It’s time to move forward and the years have passed and all your student loans, family debts and credit card bills are burying you. You need a way out, but you don’t own any real property. Other than your car and it has a lien against it.

Your first step is to go to your personal bank and apply for an unsecured debt consolidation loans. If you have a good record with your bank, no hot checks or defaulted on any loans with them, you may well qualify for an unsecured consolidation loan.

Your personal banker will work with you to determine which of your loans should be consolidated in the new loan and which ones will not be. One of the reasons for doing this is most credit card interest rates will be much higher than a bank loan. However, depending on the type of student loans you have, you may have a lower interest rate, than what the consolidation loan will have.

There is also a good chance your bank may have a credit counseling service or be able to refer you a reputable non-profit credit counselor. This service could prove to be invaluable to you so as you don’t get yourself in over your head later on.

Normally you will find many unsecured debt consolidation loans will range from six months to five years. Whereas most secured consolidation loans will have a longer time for repayment from 10 years and up. Obviously the shorter the time frame for repayment the quicker you will get your debt reduced.

As you have seen there are two types of consolidation loans you may qualify for. Both have the same goal and this is to reduce your debt burden.

Depending on what your personal situation is and your ability to repay unsecured debt consolidation loans you may find the relief you are seeking.

LET'S TALK REAL ESTATE

ROI Homes is helping investors throughout Central Florida realize their potential and acts as a guiding light through the rehabilitation process and rejuvenating the community one home at a time!

We scour through hundresd of homes for sale, analyze properties to find the ones which after renovation have the best return on investment and pick them up and offer them to investors at wholesale price. We have several homes in the 50-60,000 range that after 15-20,000 worth of renovations will be able to be resold at reatail for $110-120,000. I can show you these properties.

Secret About Debt Negotiating

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First let's get a brief review of Part 1 and then move into Part 2 of "Secrets About Debt Negotiating And Protecting Your Rights".

If you are in financial trouble in the United States or other countries you have the right to debt negotiating. In other words, you can bargain with your lenders to try and get better terms to pay off your debt.

You are going to need to be prepared when you start this process. The people you are going to be talking to are professionals and they know precisely what to say and how they can say it. Therefore it is imperative for you to know your rights also.

There are basically three ways to learn what your rights are.

1.    Visit the FTC (Federal Trade Commission) website http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre18.shtm
2.    Visit your states official web site and find your rights in your particular state. Normally you will find this in the State Attorney General part of the site.
3.    Seek advice from a qualified debt attorney. And hire him to do the negotiations for you.

The third choice can get expensive very quickly. Here are some additional tips you can rely on if you want to do your own debt negotiating.

•    Keep records
•    You should keep a journal or at least a note pad of every time you have contact with a lender.  Do it when they call you and you call them. You should note the following in your journal:

o    Date and Time
o    Name of collection agency
o    First and Last name of who you talked to
o    Notes on what was said

If by chance you and your lender reach a debt repayment plan, it is imperative to get it in writing. Do not make a payment until you have the agreement in writing. However, remember when you get it in writing it is a double edged sword. It can work for you and it can work against you.

There are two ways for you to do that. You can request the debt collector to mail you a letter confirming the agreement exactly the way it was discussed on the phone. Make sure that it is on their company letter head and signed by an officer of the company or someone else with legal authority to sign the letter.

Actually the best way to get it in writing is for you to draft a letter to the lender, laying out the terms as you understand them. Be sure and send this letter by certified mail, return receipt requested. This gives you the proof you need to show you have acted in good faith.

One thing you may not really understand is that the collection company and their representative cannot rush you into making an agreement and payment. No matter what they say or how hard they “brow beat” you don't make any payment until you have it in writing and signed by an official.

If you will notice in the above paragraph we mention a debt collector using "brow beating" tactics to rush you. Listen and listen good folks! You are protected under the  Federal Consumer Protection Act and more than likely your own state has a very similar protection for you from those types of tactics.

The following is just a few of the things a debt collector cannot do:

•    No harassment
•    Abuse you (verbally or in writing)
•    No cussing or indecent language
•    No phone calls on a consistent basis
•    Cannot contact your employer (when you notify the collection company your employer is prejudiced against these calls)
•    Plus many more (which are beyond the scope of this article)

Are you aware that if the collection agency infringes on your rights you have the legal right to report them to state and federal authorities. You can even sue them and collect damages in some cases.

You have the right to do debt negotiating in good faith. You should know what you can do and not do. Be prepared!

Oh yeah! Don't forget about the tape recorder I told you about in Part 1 of "Secrets About Debt Negotiating And Protecting Your Rights".

How You Can Profit With Your Business Credit Report

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As a small business person one of the most important assets you have is your Business Credit Report? Along with your own personal character and a good credit report you can just about name your own ticket in your local community. Furthermore, it can help you expand you business to the far reaches of the world. This article will give you some ideas of how important your credit report is to your profit.

As an astute business person you know you will have to contact new customers. In a lot of cases when you do the new customers want to know how reliable you are. Not only will they be looking for personal references but they want to know you are sound financially.

They may ask you to furnish credit references and other information about you and your company. Many times these new customers will use your business and personal credit report, to verify your financial stability and personal character. By chance, if you happen to have reports of outstanding debt, which has been unpaid or public judgments for failure to finish projects, your chances of landing this new customer are slim to none.

Not only can the above circumstances affect your ability to grow your business, it may prevent you from obtaining proper business insurance. In many cases you may have to carry a large umbrella policy for liability, before you can bid on certain jobs or actually perform the job function. In today’s modern society you and your company can be sued for anything and everything.

Without a proper credit rating, as reflected by your business or personal credit report, you may be refused insurance all together. If you are not insured you may be considered a higher risk and end up having to pay an outrages premium. Whereas with a good business credit report the insurance companies may look very favorably upon giving you a large discount off the premium.

One of the most lucrative forms of business for a small business is government contracts. Once again your personal and business report will be verified. This becomes especially important if your company and you are required to have a security clearance in order just to bid on the project. A reflection of bad credit on your credit report can stop a security clearance or other government contracts dead in the water.

However, with your outstanding credit and personal character, because you are a small business owner you can have a leg up on the larger companies. The reason for this is the Federal government; of the United States has special preference programs for the small business owners. This means you may be able to add another stream of income to your bottom line. Once again you can see how your credit report can help make you profit.

Here is a little tip that can help you keep your business credit report looking good and help your cash flow at the same time. Most companies, when they extend credit, will give favorable repayment terms to your small business, provided your credit worthy. If the term is Invoice Net 10 days, most companies will not report you as long as you get the invoice paid before 30 days are up.

If you are in a cash flow crunch, have your bookkeeper set up to pay the invoice before the 30th of the month. Make sure the bookkeeper allows enough time for the mail. This tip should only be used discreetly and infrequently. Otherwise you will get a reputation of using your vendors to finance your business operations for 30 days.

There is a drawback to this kind of credit repayment. Many of your vendors now will start calculating a late fee and interest payments as soon as the 10 days is up. So instead of enhancing your cash flow it can further deplete it.

You as an ethical business person have the responsibility of keeping your debts paid and paid on time. When you do this you have seen how your business credit report can be a profit center for you.