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Home loan advices

April 22nd, 2009

Here are my home loan advices to you:

Home loan advice no 1.
Buy a home only if on the long run it’s value will increase. If it’s old, in bad shape, you have bad neighbors, try to not take the loan

Home loan advice no 2
Be very carefull of the banks conditions. If the bank asks you for several commisions, if the bank has hidden conditions, if you want to repay in advance the credit and they charge you more for this, etc.

Home loan advice no 3
Beware of your further ability to make money. If you will not make a lot of money in the future, getting a huge loan now it will not be a sound decision

Home loan advice no 4
Always negociate. Even banks have some fixed products, there is room for negociations. After all, they are humans. And humans are changeble. Anyway, you want loose anything.

Home loan advice no 5
Don’t trust very much loan brokers. Because they are interested in selling you the best product for them, not for you. Do you really think that they will present you the product that will bring them the lowest commision? :) Common. Especially for mortgages, where the values are very high.

I hope that these home loans advices will help you. Especially save money. If you are interested in other home loan advices, here is a nice site you can look upon.

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Dollar versus euro

April 21st, 2009

I was always wondering why oil prices is expressed in usd, when OPEC countries are loosing big money because of this. If their product will be quoted in euro or other strong currency, they would make much more money. One answer is the US army. US is (still ) the biggest economy in the world, although in the next years we will see a changing in roles 😉

Now, I see that also other sources are saying that dollar will loose it’s supremacy. Well this indeed is a fact. All great empires had their ups and downs. Is only a matter of years until dollar will be history, in terms of referrence. And, providing enough time, the chinese yuan will take over :)

So, if you want to read other interesting financial news, you can visit this great site: infomakingmoney.com

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Why Refinancing a Mortgage necessary?

March 25th, 2009

There are a number of reasons why we need to refinance. The requirements of home improvement, college education or just reducing the monthly mortgage payment are some of them. You have to locate a refinancing company that provides you the most suitable rate while you opt to refinance your existing mortgage. Prior to refinancing, it is prudent that you carry out comparison shopping.

At a time when college education is getting much costlier, going for mortgage refinancing is becoming a common trend. Everybody wishes to send his child to college for higher education and become established in life. This is one of the reasons why people refinance their mortgages. There are various options for refinancing and getting professional advices from a mortgage loan expert would help you determine which option is right for you.

A quite common reason for mortgage refinancing is debt consolidation. You can repay your piled up debts like outstanding medical bills and credit card debts. This motive might become more common in the days to come with the new law for bankruptcy soon to come into existence. It eliminates creditor harassment which is truly painful while managing debts and nobody wishes to carry on with the bills they are unable to repay. Therefore, resorting to refinance to get rid of these bills is a sensible measure. This would assist you to better your credit rating.

No matter what your reason is, there would be competition among the lenders to provide you refinancing. Shop around online or contact various lenders and make comparisons between the refinance quotes offered by them. In this way, you might get the most reasonable quote that you have been searching for.

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