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A Home in Need is Home Indeed… Homeowner Secured Personal Loans

April 24th, 2009

Home plays a vital role in keeping you and your family intact. It’s the place where all the family members get together at the end of each day and celebrate their life. But are you aware of the fact that your place of livings can also serve your financial needs. Yes, its true, with a homeowner secured personal loan you can get cash against your house.

Homeowner secured personal loans are loans secured by the home of the borrower. People misbelieve that for getting such loans they have to give away their home to the lender. But the truth is that only the title of the collateral is transferred to the lender at the time of the loan agreement. Lender can take the possession of your home only if you make any default in repayments. Being secured, these loans are at low interest rates which attract most of the borrowers.

Simple to get…easy to repay… this is a homeowner secured personal loan. The loan amount which you can borrow under a homeowner secured personal loan varies between ₤5000 to ₤75000 as per your requirement and collateral offered by you. Be sure about what you are applying for and how you are going to repay it. Applying for bigger amounts which you can’t afford to repay can take your home away. Consulting a loan officer would be a good idea before applying.

Homeowner secured personal loans are all purpose loans. From buying new home to renovations of existing home, buying automobiles to holidaying expenditure, from wedding expenses to health and education funding, from business finances to consolidation of debts….. A homeowner secured personal loan is perfect support for any and every financial need.

Presence of collateral allows the home owner secured personal lenders to consider a wide variety of people including the ones with a bad credit score. A credit score below 500 is considered as bad when you are looking towards borrowing money in form of loans. This may be due to defaults made by the borrowers in the repaying their debts in the past, or if they are carrying large number of debts or there may be other such reasons such as late-payments, bankruptcy, CCJ’s and IVA’s, To apply for a homeowner secured personal loan you can log on to online websites with free online quotes and comparison tools. You need to provide details such as personal information, loan amount required, collateral details. The lender will process your loan request after getting satisfied from your details. It will take 12-15 days to get the approval depending upon the collateral valuation. A homeowner secured personal loan will give all your personal wishes, the financial boost in form of apt funds.

A homeowner secured personal loan is loan secured against home offers you low rates with flexible and longer repayment terms which other unsecured form of loans doesn’t offer. Also you can enhance your credit score by making timely payments of easy installments.

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A home can hatch money for you: Homeowner secured personal loans

April 24th, 2009

A home is a place, where you reside in rest and spend the most peaceful hours of your life. It is always sweet for you as it provides you shelter. Now, have you ever thought that you can use your home for earning money? If not, believe it now. Because through homeowner secured personal loans, you can always avail money with the help of your home.

Actually, a secured loan is a kind of loan, where a person needs to place any of his assets as security for the loaned amount.

This security could be in the form of borrower’s car, home, any valuable paper etc. Now, in homeowner secured personal loans, a borrower can only place his home as security. Here, borrowers avail loans against the equity of their home. But what does ‘equity’ mean? Actually, the word ‘equity’ implies the current market value of a home minus the outstanding mortgage balance amount of money.

Homeowner secured personal loans allow a borrower to borrow anything between £5000-₤75000. And the repayment period varies from 5-25 years, which is of course, a comfortable duration. Again, you can avail homeowner secured personal loans for any purpose and any reason. Be it the repairing of your home, buying a car or education of your child, you are always free to use it for anything you need.

Secured homeowner loans are open for all, irrespective of credit score and credit history. If you have a good credit score, you can use it. No problem if you have bad credit also. Because people having CCJs, IVAs, defaults, arrears, bankruptcy are also eligible for this loan. Moreover, by repaying the loaned amount in time, they can even get a chance to improve their credit score also. Of course, in such a case rate of interest tends to be slightly higher.

You can get homeowner secured loans from different sources. Banks, lending organizations, financial institutions to name a few. At the same time, you can access these loans from World Wide Web, which is perhaps the best of all other available sources. Through these method you can meet a number of online lenders, who are specialized in providing tips regarding homeowner secured personal loans. They will offer you several loan terms and quotes. Now, you have to select the lender, who will meet all your requirements with sound solutions.

In homeowner secured personal loans, borrowers avail loans against the equity of their home. These loans allow a borrower to borrow anything between £5000-₤75000. And the repayment period varies from 5-25 years.

Amanda Thompson holds a Bachelor’s degree in Commerce from CPIT and has completed her master’s in Business Administration from IGNOU. She is as cautious about her finances as any person reading this is. She is working as financial consultant for chanceforloans .To find a Personal loans,bad credit loans,Debt consolidation,home equity loans at cheap rates

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A Guide To Bad Credit Secured Loans

April 24th, 2009

If you are suffering from bad creditrecord, you need to be all the more cautious while applying for loans, so that; you may not be deceived by the unreliable lenders, who may charge extremely higher rates of interest. To avoid any such fuss, it is necessary that you search through online sources and collect quotes of more than one lender regarding the quotes. In the hour of financial crisis, bad credit secured loans can prove to be miraculous. Let us get to know all the relevant details about bad credit secured loans.As implied by its very name, bad credit secured loans are secured in nature. It implies to qualify for these loans you need to offer some of your assets as collateral to secure the loan amount. It can be your home, property, vehicle or any valuable assets and will be seized by your lender, in case of non repayment of the loan amount.

A bad credit refers to missed or non payment in the past borrowings, which resulted in defaults, arrears, CCJ, IVA or even bankruptcy. Earlier lenders were hesitant to offer a helping hand to such people. But, with a change in the financial requirements, financial trends have also altered.

Bad credit secured loans offers you all the benefits of a secured loan like lower rate of interest, longer repayment term, larger loan amount and many more. All you need to do is proper search through various online sources and you will surely find the best deal.

The most crucial factor of bad credit secured loans is its repayment schedule. Otherwise, you may end up losing your precious assets. Compare and contrast the various quotes of bad credit secured loans offered by different, prior to coming at any conclusion.

The article discusses all about bad credit secured loans. What are bad credit secured loans, where and how you should search to find the best rates? For all this and lots more, read the article.

James Taylor holds a Master’s degree in Commerce from JNU. He is working as financial consultant for Chance For Loans. To find debt consolidation loans, debt consolidation loans, cheap rates, personal loans, secured loans, unsecured loans, improvement loans

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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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Credit cards

March 10th, 2009

credit cardsCredit cards are one of the most devious invention of human kind. It allows you to spend, mortgaging with your future life and future incomes. What is weird is that everybody consider that THEY DESERVE to spend on debt. So credit cards become a very good industry to make people slaves to consumption.

USA became the most in debt country in the world. And collectors will come some day. Usually in a form of the crisis. Now we have a big crisis on our hands. Hopefully it will pass. But huge amounts of money had been lost…

Anyway, my advice to you is to NOT USE credit cards again. I know, you got used to them. They are handy. They are cool. But is wrong. You should consume on what you have.

Buying on credit was considered a excelent invention. It permits you to buy something now, instead of 20 years from now. In both cases you were paying the money. The only difference is that if you buy on credit, you get the asset now, not when you are old and dying.

The things is that buying on credit involves many risks.

The exacerbation of the credit (especially via credit cards and loans), determined the increase of prices. If the credit was not here, the prices would be a tenth of present value. Much more affordable, in the first place…. isn’t it? Not to mention the devaluation of whatever you can buy with a credit card.

Credit cards are nocive especially because they allows you to buy consumption things, not assepts that you can consider investments, correct?

So, why should you use credit cards? Just as a drug addict needs his dose? Can’t you restrain yourself from spending guaranteeing with your future life? Credit cards are good only if you invest something in yourself. If allows to buy a future stream of income.

Did i convinced you not to use credit cards? :)

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Souring FHA Loans

March 9th, 2009

Well, that didn’t take long. In November, BusinessWeek had a big cover story on the way in which dodgy subprime lenders were moving into the formerly safe-and-boring world of FHA loans. And now the shoe is dropping:

In the past year alone, the number of borrowers who failed to make more than a single payment before defaulting on FHA-backed mortgages has nearly tripled, far outpacing the agency’s overall growth in new loans, according to a Washington Post analysis of federal data.
Many industry experts attribute the jump in these instant defaults to factors that include the weak economy, lax scrutiny of prospective borrowers and most notably, foul play among unscrupulous lenders looking to make a quick buck.
If a loan “is going into default immediately, it clearly suggests impropriety and fraudulent activity,” said Kenneth Donohue, the inspector general of the Department of Housing and Urban Development, which includes the FHA.

Annoyingly the WaPo story can’t find space in almost 2,300 words to ever tell us the rates at which FHA loans are souring: we’re told that the immediate-default rate has “nearly tripled”, for instance, but we’re not told the absolute default rates. The closest we get is this:

More than 9,200 of the loans insured by the FHA in the past two years have gone into default after no or only one payment, according to the Post analysis.

I haven’t been able to work out where the FHA reports the total number of loans that it originates; the best thing I’ve found so far is this chart, showing FHA originations rising from about 60,000 a month in January 2008 to over 140,000 in August. So very roughly I’d guess that over the past two years the FHA has insured about 2 million loans. If that’s the case, then the immediate-default rate is about 0.5%. But some hard numbers would be very welcome here.


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The Poseidon Mortgage Adventure

March 5th, 2009

Comment On This Story In related news, applications for loans to buy U.S. homes and to refinance existing mortgages fell for the second straight week, the Mortgage Bankers Association said.The news …

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