How to Get Mortgage Modifications While Being Jobless

Being jobless is one thing and suffering from it is another thing. You need to realize that even without a job you can make merry in the United States. However the lenders might hesitate in giving you the new loan since you are jobless and it is not really sure that when you will get the next job. However there are certain situations during which the lender might agree to pay the loan. This is certainly very important to know.

Suppose you feel that you are jobless, then you should know that you can do many things out here. The first thing which you can do is related to the unemployment form. Suppose you sign the unemployment form then in that case you might win a new loan for yourself. The people definitely find it quite beneficial to go out and sign for getting the benefit. This is quite beneficial as well.

Let us check out about the conditions during which a person gets the benefit of the mortgage modifications. This is certainly quite important to know. This is quite important to keep in mind as well.

Those situations are as follows:

1. The first thing which you will have to keep in mind is related to the job. Suppose you are doing the job in any company for more than 2 years then the lender will have high hopes for you. They will feel that you will get the new job very soon. Hence he will definitely provide you the loan. You will never find any difficulty in getting the mortgage. The lender will definitely provide you the loan.

2. Suppose you sign the unemployment form and you are able to produce a good credit history then you might win. The lenders will again feel that you are a safe option. Hence they will definitely provide you the chance to win the mortgage. They will definitely provide you with the loan modification option. Thus you can consider this situation as the second case and you are dead sure to get the loan in this case as well.

3. Let us consider one more case. The loan modification option will be open for you if you prove that you will get the job within few months or weeks. In such cases as well you will be provided with the option of the loan modification.

Thus mortgage modification is one thing which will definitely help you out to win the battle and you can get it even when you are jobless.… Read More

How Does Commercial Remortgage Help?

You must have taken a commercial mortgage to expand your old business or to set up a new one. There may be need for finance to set up a pub or renovate them. A high interest rate is what you got when you applied for it then. If the current loan rates are lower and you have taken out a fixed mortgage, you have an option to switch over to a variable one and enjoy the current interest rates.

Remortgage or second mortgage offers you a chance to change your terms too. You can reduce your loan duration and pay less on the whole. Get rid of paying your monthly payments over a longer duration. You will soon repay them and get rid of it.

Build your equity faster by paying of the loan amount in a shorter duration. By doing so, the dues on your loan will be smaller and hence the equity used for the loan will have a better value. Switching over to a fixed term on low interest rate is better than paying high interest on a variable interest rate.

By refinancing, you can opt for a cash out option. This will allow you to make use of the cash to fund your children. Make use of your consolidation loan option and get better rates. You also get to manage multiple loans in an easier way with just a single repayment to make. This way, you will be able to get rid of your pending dues too.

You need not worry about being in commercial debt for long. If you have an option to consolidate your commercial mortgages then you better do it. Renovate your factory or other commercial enterprise to increase the value of its equity. You can make use of your renovated firm to get better rates.

Financing a Cleaning Business

A cleaning business is one of the most popular businesses to start today. Why is this that you might ask? It’s because it’s a fairly small business that requires little to no start up. But what happens if you don’t have any money, and you’re looking to start up this business? It’s okay if you don’t have money, because there are many options that you can take!

Starting with your credit

If you have good credit, and you have $0 in the bank, I would recommend that you go down the route of getting a business credit card. Even if you get a $500 credit line, this is more than enough to get all of your cleaning supplies, as well as get enough gas money to get to your first couple clients houses. Once you get those clients, and your weekly money coming in, you’ll be able to pay off your card.

What if my credit is bad?

There are many cards out there for just about everyone. Even if your credit is bad, you may want to look into getting a secured credit card. These cards are different than your … Read More

How to Move on and Thrive After a Divorce

Being Head of Finance might not have been what you signed up for in life, your marriage and certainly inconceivably after divorce. But somehow, by default, the responsibility now rests squarely on your shoulders. We are not born with any skills in money management. But we do have the ability to succeed against all the odds. Now that the finances are firmly in your hands, see it as a bonus and not a burden.

Changing spending habits

Perhaps in the past you never thought about it, but losing track of spending may have been the norm. Especially, as the tab was picked up by the ex-spouse. Or, you relied on joint incomes. But your spending must now fit into what you have. There is often a niggling thought that it’s not going to work out for me? Will my spending get out of control? Will I be penniless, and worse still, will I have to run cap in hand to the ex-partner. Forging a future for yourself and your children, needs you to be at peace with money.

There are five big negative beliefs when dealing with money after divorce:

1. Fear of not managing – limited self belief that you will not cope

2. Fear of not having enough – what you have will run out and not meet the family’s needs

3. Fear of not being good with money – having never been affirmed or trusted, you believe you must be rubbish with it

4. Fear of living a poor existence – believing that you will live a poverty life without a partner

5. Fear of change – inability to accept that change has happened, and being afraid to embrace new and positive things that are within your grasp.

Fear plays such a big part in the ‘what ifs’ after divorce. Be comforted in knowing there is an answer to every ‘what if’ which is deep rooted in fear, whatever it may be. The practical side of managing finance will always need to be addressed ie paying bills when they’re due and not neglecting it. Being fully aware of your financial obligations is one of the keys to spare you from the taunts of fear. This can be structured very easily in a way that takes the pressure off you and your time.

After divorce, comes the time to really take care of and develop you, as a whole person – your self esteem and confidence needs to be raised, a zest for life needs rediscovering. You cannot turn back the hands of time, (neither would you want to). But with gusto you can live an inspired, affirmed, empowered, fulfilled life, attracting people towards you that support and care for you.

And now finance, must never be the stumbling block that stands in the way of that. What do you want from life? What do you aspire to achieve? Perhaps it’s something you are yet to discover. May the journey of finding out, be kind and … Read More

Understanding Credit Scores – Easier For Lenders to Deal With

A good way to figure out understanding credit scores is to think about having to weed through thousands of credit reports every day like most credit vendors have to. You would like to have something that makes it easier, so you don’t have to spend all that time coming up with your own assessment of each individual credit report.

That is what a credit score is. It is a summation by FICO of what your creditworthiness is based on your credit history. It makes it easier for lenders to make expedient decisions.

In understanding credit scores you must first realize that a credit report is a laundry list of your credit history over your entire list. Any given credit report can be fairly tedious to plow through and quantify. Everyone wants fast credit decisions. The credit applicant wants a fast decision so they can get on with their purchase. The lender wants a fast decision so they can grow their business.

Having to come up with their own individual summations based on the full credit report of an applicant can be a lot of work and delay a decision. That’s not good for the lender because like any business they need to be competitive. Borrowers will be more likely to do business with someone who can make a quick decision.

Understanding credit scores and how they are used can be a great tool in figuring out your financial future.

If you keep a diligent eye on your credit score and continually work to keep it high, you can take advantage of the great prices out there right now on everything from houses and cars to home improvements and other consumer items. Times are tough, but if you have a good credit score you can really do well for yourself and take advantage of your good credit score.

Understanding credit scores and how lenders look at them can give anyone an advantage when making credit deals. The thing to keep in mind is that credit scores are a short cut for lenders to make decisions on how creditworthy you are. To keep your credit scores up you can take some easy steps such as paying bills on time, using prepaid credit cards and trying to consolidate all your outstanding debt into one bill. All of these actions can help raise your credit score so you can take advantage of credit deals . . .… Read More

Making Dough, Splashing Spondulicks and Wasting Wonga

With the exception of sex, drink and food there are more slang words for money in the English language than for any other thing.

Perhaps due to being the UK’s financial centre since commerce began, most of the slang terms for money originated in London.

In the old East End of London, cockney rhyming slang produced some of the most creative terms and phrases for money. Bees (bees and honey), lolly, readies, folding, wonga and hundreds more terms have emerged from Bow to Wapping and Bethnal Green to Whitechapel over the centuries.

The popularity of different terms comes and goes, new variations crop up and older ones are revived with bewildering regularity.

Back in the 1970s you could ask someone to lend you “a lady” without out it being construed as an illicit request. In the decade that gave us glam rock and punk rock “a lady” meant 5 (Lady Godiva – fiver).

For cockneys and mockneys in the 1990s, if something cost “a bag” it was 1000 (bag of sand – grand). More recently, in gambling circles, “a biscuit” has come to mean 1000. This is not exactly rhyming slang, it’s referring to the size of larger casino chips – which look like biscuits.

Borrowing a pony to boost your macaroni

To confuse things further, over time, slang terms for money begin to refer to other slang terms rather than to an actual thing. In the last 5 years it has become popular to use “macaroni” to mean 25. There is no direct connection between “macaroni” and 25, but it does rhyme with pony…

“A pony” has been used to mean 25 since the 18th century and is still popular today. However, theories about the origins of its use are hotly contested.

Some say 25 was the price of a small horse in the 1700s, others argue it’s because there was a picture of a horse on an Indian 25 rupee note at the time. There are even those that trace it back to biblical stories – far too convoluted to go into here.

Whatever the origin, it keeps on changing and maybe one day in the future etymologists will be arguing over why people in early 21st century used “macaroni” to mean 25 – I’m going to get my theory in early and say, given the current rate of inflation, it was the price of a packet of pasta in 2012.

Wonga, wadge and moola

Immigration and travel has had an impact on the words we use for money. Yiddish speaking immigrants from Russia and Germany in the late 1900s and early 20 century had a huge impact on the English language.

It was common to hear many Londoners refer to their money as shekels right up until the early 1960s.

Moola/moolah is as popular today as it was in the 1930s. “Moola” comes from the word matzah, a type of bread. Dough and bread have been used as terms for money for many years.

Wonga … Read More