Jul 15

The Best American Cities in Which to Buy a Home

As the doom of adulthood looms overhead, young Americans all across the country are considering, many for the first time in their responsibility-laden lives, the spook that is the housing market. Paying for cars, scouting out insurance companies and filing for taxes all signify that true maturity – in theory – has been reached, yet no purchase, according to the experts at York Howell, a law firm dedicated to proper estate planning, will likely amount to the importance of purchasing that first home.

Over the last several years, housing prices and mortgage rates were extremely low which meant, unfortunately for all little fish in America’s socioeconomic pond, that big time investors devoured properties left and right while others could only watch from the sidelines. Recently, prices and rates have began to climb, once again, signifying that it’s time for the rest of us to throw our proverbial hats in the ring. Now the real question: Where’s the smartest most effective place to set up shop as a homeowner?

Investors in 2014 should be most interested in cities with low housing prices that have been primed for growth. Generally speaking, the cities with the most sound of housing markets have steadily increasing populations, relatively low-cost homes and a stable, local economy with extremely low unemployment rates.

“We are at a stage in the economic cycle where job growth – and demand for housing – is accelerating in some markets,” states Ingo Winzer, creator of Local Market Monitor and a whiz kid of housing market trends. “The types of jobs created are often lower-paying, most suitable for renters, younger people who are willing to move from somewhere else and who don’t want to own a house right now but might have a young family and would like to rent one.”

As prideful as the state of

Jul 15

Foundation To Personal Finance Planning And Achieving Financial Freedom

Even as you are generating wealth you need to find ways of cushioning yourself from losing your acquired riches. Personal finance planning is therefore a crucial element of managing your finances. It is essential to start early when it comes to managing your finances rather than waiting until you have become a millionaire. It is through organizing and budgeting in advance that will easy your way towards achieving financial freedom.

* Keep a record of all your expenditures. Apart from this helping you manage your finances it may come in handy when you need to do an audit of your financial progress in the future.

* An integral element of personal finance planning is negotiation. You should learn tactics of negotiation and hence get the best deals. In addition, realize that you will not succeed in all kinds of negotiation, you also have to be ready to let go and settle whenever things are not going your way. Therefore, this means you need to have tact and know when to seal a deal.

* It is advisable to delegate duties especially when you become overwhelmed with things to do. But try as much as you can not to trust others to sign your personal checks. In case you have no option and have to delegate, make sure the person you choose has shown true elements of trust over a long period of time. All said and done you are the one who is entirely responsible for your personal finance planning and management.

* Nothing in life is perfect hence you should never but your eggs in one basket. Proper personal finance planning calls for you to have several streams of income. Also remember to back up your financial documents. This you can achieve by involving your personal lawyer and keeping

Jul 14

Bank of America Denied My Loan Modification – What Now

Many professionals consider Bank of America to be one of the most frustrating lenders to modify a loan with. With the recent acquisition of Countrywide, they now service an enormous amount of home loans for an equally large amount of backing mortgage investors. This means that every loan they have falls under different guidelines and the modification options on each loan are always different. Patience and persistence will be the your best weapons to fight this uphill battle.

If you’ve already been denied for loan modification it’s very likely that Bank of America kept you waiting at least 30-90 days before they deliver that unfortunate news. This is the typical time frame for the modification process with Bank of America and it’s never recommended to continue missing payments while waiting on a modification request. There is no advantage or leverage gained by falling further behind on mortgage payments. If your request was just denied and you find yourself more than ninety days behind, it’s important you determine where the loan stands in the foreclosure process before beginning another lengthy review process. If you don’t feel comfortable discussing the foreclosure process with your lender yourself, it’s advisable to have somebody you can trust call with you to determine where in the foreclosure process the loan is, and also determine if there is any immediate danger of an auction date.

The #1 most important thing if you have just been denied is timing. You don’t want to start all the way at the beginning of the review process again, if you don’t need to. Many times while the negotiator is still assigned you may be able to resubmit your financial statement before the review is closed. You will need to work quickly to update all the financial information you originally sent to start the

Jul 13

Personal Finance Takes Cares Of All Your Needs

What is wrong in deriving sort of financial assistance? when you have access to so many financial options, you will definitely like to meet your various needs and desires. Among all the loan options available, it is the personal finance which is very much in demand at present. Under this financial scheme, you have the support to fulfill any personal need or desire.

You are free to obtain the finance and utilize it for a number of purposes. Be it meeting regular day to day expenses or indulging in luxuries. You can use the finance to cover expenses on home renovation, educational purposes, wedding, going for a holiday tour, purchasing car, consolidating debts and so on.

Based on your specific need and requirement, you can avail these loans in secured and unsecured form. The secured form of the loans can be obtained by placing any valuable asset such as home, land, property, car or any other important document as collateral. it is because of collateral pledging that you get to comfortable rates and a long repayment term. Under this option, you can avail a bigger amount in the range of 5000-75000 or more for a repayment duration that spans over a period of 5- 25 years.

In case you are not willing to pledge any valuable asset, then you can opt for unsecured option of the finances. To avail it, there is no need to attach any collateral. the unsecured option is very much popular among the borrowers like tenants and non homeowners. Based on your income and repaying capability, an amount in the range of 1000-25000 for a short repayment tenure of 6months- 10 years.

Those with bad credit such as CCJs, IVA, arrears, defaults etc can also avail these loans. However to reduce the

Jul 13

Starting Emergency Funds – Personal Finance Basics

In my earlier post, I wrote about the importance of creating an emergency fund. Today, we’ll go through some of the quick tips I give many of my consulting clients when I teach them personal finance basics regarding starting an emergency fund. In this post I will discuss budgeting, goal setting, and automating your emergency fund.

Budgeting – The first step in creating your emergency fund is to create a well thought out budget that not just give you an idea of where you are with your finances, but lets you know how much money you’ll be allocating towards your budget. Budgeting is the most simple of lessons in personal finance basics and when you make a good one, you will discover areas you can cut back so you can put it towards your emergency fund or for different financial goals. You can look around google for many budget tools, or look at our resource link to our budget spreadsheet.

Goal Setting – Learning from other financial experts is a hobby of mine as a financial consultant. I do this to be certain I’m lending the best possible advice I can to my clients. All experts who teach personal finance basics (like how much money should be in an emergency fund), suggest 3 to six months income. I recommend a three-tiered goal setting system. Create a easy to achieve goal of $1,000. Because you’ll hit it quickly, you’ll be excited and more motivated to reach the bigger goals. The next goals are an middle range goal and finally, your big goal of 3 to 6 of net income.

Automating – An important step in the budget is to figure out how much money each month will go towards your emergency fund. Let’s pretend you can afford a monthly budget of

Jul 12

Top Philippine Banks For Ofw

A bank account is very important for OFW since it will be the account where the money will be sent from abroad. Opening a new bank account can be hard since you do not know which bank is the best for your criteria. There are really many banks in the Philippines so selecting one is not easy. In this article, you can learn which bank to use to send money to the Philippines.

1. Banco de Oro

Last year, Banco de Oro or commonly known as BDO held the highest portion of OFW remittances so it was named by Central Bank o f the Philippines as the No.1 bank of OFW remittance. BDO has services that it exclusively offer to OFW and their relatives like the Kabayan savings account with only P50 initial deposit with no maintaining balance as long it will be used for remittance. Just like other banks, BDO has Internet banking, phone, mobile and ATM banking across the country.

2. BPI

Recently, Finance Asia awarded Bank of the Philippine Islands as the best bank in the country for cash management in 2009. BPI is my choice bank for sending money to the Philippines. It has the best care fo its customer and very quick in responding to their client’s needs.

3. Metrobank

Metrobank is a famousr bank in the Philippines and listed as a public company in the Philippine Stock Exchange. Last year, it belongs to the top five remittance bank of OFW. It has a wide network of branches not only in the Philippines but also in other countries like US, European countries, Korea and Middle East countries. Many OFW likes Metrobank because of its good customer service and plenty of branches all over the country.

4. Chinabank

ChinaBank ranks fourth as the largest universal bank in the Philippines by market capitalization. It is

Jul 10

Balancing Your Personal Finance

It is said that the intelligent finance planner never becomes a victim of financial deficiency. The statement is no doubt true as validated by thousands of examples and those revealed by personal finance news. Personal finance is all about your individual finance, spending your money wisely and saving as well as investing the same for future gains. The scope also encompasses your credits in the market like the loans you may take for buying a home, a car or for sending your ward to a foreign university for pursuing a bright career-oriented course. It also includes your investment portfolio like investing in stock market, mutual funds, etc. in addition to life insurance, retirement planning, and lots more.

Using financial calculators enables the planner to calculate the exact amount and maintaining a record of the same so that overspending or wasteless spending do not take place and that all loan amounts are paid as scheduled. There are different ranges of financial calculators, viz. credit calculator, insurance calculator, real estate calculator, etc. A credit calculator enables one to calculate the amount required to pay unpaid balances, i.e. the real cost if the minimum balance is cleared. An insurance calculator enables one to calculate the life insurance required including estimation of drug savings, medicare prescriptions, etc. Calculating housing investment amount, mortgage payments, credit card payments, etc. are other aspects that financial calculators cover. If you are doing your personal finance planning, do watch personal finance news regularly so that you stay updated about what is happening in the world of personal finance. You can also watch financial news online if you have access to the Internet.

Personal finance news in India covers all facets related to finance including financial institutions offering loans that may differ in interest rates, mutual funds offered by different

Jul 10

Defaulters Of Loans Or Credit Cards From Banks Beware Of Cibil

Credit card and personal loan defaulters will find it more difficult to evade credit collection officers in future.

Banks can now track defaulters who have absconded or skipped payment through information currently being provided by Credit Information Bureau of India Ltd. (Cibil). Whenever a defaulting borrower applies for a fresh loan with any bank his credit history can be accessed by on e mail.

It was near impossible till very recent times to trace a customer in event of change of address unless communicated to the lending bank. Now due to the central database maintained by Cibil containing amongst others data about date of birth and PAN number etc they can be located and identified.

While there is a controversy about sharing such data & services to lending banks being an infringement on privacy the same seems to be well purview of the CIBIL act as confirmed by MD. Arun Thukral.

Surprisingly there have been cases in the past where two branches of the same bank have given loans to the same borrower due to unavailability of real time credit history of the customer. Sharing of database maintained by Cibil amongst lending banks will be a remedy to this unwanted problem.

Customers too would now be able to access their Cibil report by making online payment to Cibil who would mail the report to the address on its record. According to Mr. Thukral Cibil is also offering its analytical tools to banks to facilitate their decisions on credit worthiness of loan applicants by allotting credit score based on existing and past relationship across all products by participating banks.

The Reserve Bank of India had declared new guidelines which will disallow any bank to treat a customer as a defaulter if they have negotiated the amount payable against his account

Jul 08

How To Release Irs Bank Levy In Your Bank Account

All we need is a bank levy and it will destroy our day. If you are being levied by the Internal Revenue Service or about to be levied by the federal government then you need to gather information as much as you can in order to know how to stop the bank levy. Before confronting the Internal Revenue Service make sure that you have help that knows how to deal with the Internal Revenue Service. With help to a person that is expert in tax can help you get the best solutions that can stop bank levy as well as prevent the Internal Revenue Service to come after you.

Together with your tax expert you can easily stop bank levy as long as you are willing to negotiation to the Internal Revenue Service and accept their terms however you can also ask for your option for example you can ask for a tax relief and use the advantage to stop the Internal Revenue Service from seeking a bank levy in order to control your bank account.

Remember your hard earned money in the bank is the only thing that you need to protect to the Internal Revenue Service and you have to make sure that it will be well guarded. Better to settle your tax debt before the federal government can think of what to do in order to collect what you owe.

Generally, bank levy is the last thing that the Internal Revenue Service thinks of using because usually they use wage garnishment as their collection tool but if they think that they do not have anything to garnish then their next stop is your savings from your bank.

It will takes 21 days for the Internal Revenue Service to finish all the paperwork for the bank levy why

Jul 08

Student Finance Services Helps The Talented To Succeed

Education is the most important thing in ones life. You cannot think of being successful without acquiring the required education. But the financial scarcities sometimes hinders on the way of the aspired students. They cannot afford to get educated because of this lack of money. This sometimes results in wastage of potentiality and caliber of the students and therefore, in order to help them and get their talents out the student finance services are being put into action.

As these loans are available in secured and unsecured these two forms, the students can get these for their requirements by matching it with their situations. You should go for the secured loan only on these conditions that you have valuable property to offer as collateral and you need bigger amount. For bigger financial requirement these loans are undoubtedly the most ideal one but if you do not have anything to pledge as security then there will be no use of thinking about it. The rate of interest of these loans are very low and you will enjoy longer repayment term with it, so go for it if you think your criteria matches with it.

For the unsecured loans no such collateral will be required and the rate of interest too is higher in it. The amount offered is not so big but whatever it is is good for affording the short term courses or those educational programs that demands fewer amounts.

You can use the loan amount for a variety of purposes. In fact, the student finance services are designed in a way to help you in supporting everything that occurs during an educational career. It will help you in taking admission in new session, paying class and tuition fees, getting uniforms and study materials, medical treatments, taking room

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