Orchard Bank Card

By Daniel Moskel

The Orchard Bank MasterCard is created for individuals with a damaged credit report. This card is issued by HSBC Bank.

This card has a unique application process. When you apply they will match your credit score to one of four sub prime credit cards.

These cards are three unsecured cards and one secured card. If you are looking for a second chance with your credit then you should apply because you are guaranteed to be approved for one of these cards depending upon your score.

If you have many negative items on your credit report you will likely be issued the secured card. With this card you must make a deposit and then your card will have a credit limit equal to the amount of your deposit.

It works just like an unsecured card and you will have to make monthly payments. Your APR will be between 8.9% and 14.9%; this is much lower than most sub prime credit cards.

If you have only made a couple of mistakes with your credit then you will likely be approved for an unsecured card. However if you prefer the secured card you can be issued that instead.

The unsecured cards will have some fees like a 19$ account set up fee with one of the cards. These cards also carry an APR between 8.9% and 18.9%.

However the fees with the Orchard Bank cards are dramatically less than any other available bad credit cards. In addition they offer considerably lower APR's too.

All of these cards will report to the three major credit bureaus. With responsible use of your card you can build a positive payment history on your credit report.

This is very important to your credit score. It is estimated 30% of your credit score comes from your payment history.

These cards will also help to improve your ratio of available credit to debt. This is estimated to account for 30% of your score. It is how the bureaus check to see if people are in over their heads financially.

For your information it is rumored that once a negative mark on your credit report ages four years it has much less weight on your credit score. However if you remove negative items from your report and create a positive payment history your credit score will jump substantially.

In sum we do suggest the Orchard Bank cards to those with a low credit score. This card can be a very valuable tool to rebuild your credit.

About the Author:

For more about the Orchard Bank Credit Card or for a review of the Tribute MasterCard another unsecured credit card visit us.

Reverse Mortgage Looking Pricing Loans Like Forward Market

By Matt Vanrock

Fannie Mae and the powers behind her, last week, changed the manner in which us little reverse mortgage companies can price our loans to consumers. This is a big change.

Last week when someone called in for a quote, we would give them some competitive numbers and we could stick by them.

Additionally, my numbers would be locked in for up to one hundred twenty days.

This is no longer the case. Today reverse mortgage feel more like forward mortgages in that interest rate pricing is done with varying lock periods. And pricing can change day to day prior to locking rates.

Since most reverse mortgages take longer than the lock periods some customers will get burned. Quite a few senior borrowers are banking on the reverse mortgage to come in and pay off their forward mortgage.

Their goal is to eliminate the burden of that payment.

Where I can see a problem is that interest rates play a major role in how much money a borrower can receive for the reverse mortgage. Too often the reverse mortgage is just enough to pay off the forward mortgage.

How much a lender lends is inversely related to rates. When they go up, the borrower gets less, and vice versa.

For the folks who need as much money as possible, this could be tricky. The interest rates may be favorable when they start the process. It initially looks like they can pay off the mortgage.

Envision this.. Fourteen days later, when the borrower can finally lock in the rate, what if rates are up one percent or so. This borrower will be out of luck in as far as paying off that mortgage.

At this point what are the choices for this customer? He can either wait for interest rates to drop back down or pay the difference in cash.

This is the down side. The up side for the borrower is it will force lenders to be competitive in their pricing.

The new pricing should offer a better experience for customers such that it should, because of its complexity, sift out some of the weak reverse mortgage loan officers.

The stronger, more knowledgeable LOs will see this as old hat, know how to explain it, and probably garner more of the business.

About the Author:

Folks in California interested in the reverse mortgage, hit this great informational website. Additionally, go here for the revealing ofthe big mistakes you can make in California procuring a reverse mortgage.

Three Interesting $5,000 Signature Loan Scenarios

By Mark Matthews

The winters in my state are especially heavy, and if it snows too much for too long, your roof can fall victim and either cave in or at least suffer serious damage. People whose roofs can't stand the pressure may end up needing expensive repairs - and expensive repairs may mean seeking a quick $5,000 loan.

Just think of the alternative - leaving the roof unrepaired and letting all that cold air and snow flow into the house? I don't think anybody would be in favor of that idea. So if you don't have the cash on hand and you don't want a big snow drift in your living room, you'll need to find someone who will lend you the money to get it fixed.

Here's another possible scenario - it might already be late January and you're in charge of your local Super Bowl party. You've got the right food, the right furniture arrangement - but one thing is missing - the huge high def TV that will let all forty people who are going to be sitting in your living room enjoy the game.

No - you can't. And in this kind of emergency the only real option for making sure your neighborhood reputation stays intact is to get some kind of short term loan and buy the kind of TV that will make your friends proud.

Now it's clear that neither of those situations are going to mean life or death for your family. But there are a myriad of other problems that could occur in your life. It could be the middle of summer when a close family member or friend suddenly passes away and you have to purchase last minute airfare to comfort the family of the deceased.

Those plane tickets are going to cost an arm and a leg - unless you get a bereavement ticket - which you probably won't. You could be staring down the barrel of $1,000 to $3,000 in airfare depending on the size of your family. In these economic times, most people don't have that kind of money sitting in their checking account.

I don't like the idea of anyone having to go into debt for any of these scenarios, especially the one where you're borrowing a bunch of money to buy electronics you don't need for a part that's going to last less than four hours.

But the fact is you may have to borrow money under less than ideal circumstances and when that time comes, you need to know your options. Signature loans are probably the only way out if you don't have any cash laying around or room on your credit cards. Just make sure you're smart enough to set up and immediate repayment plan, and your long term goals should be relatively unaffected.

About the Author:

If you've spent time in the army or other military branch, Mark may be able to show you how to get a bad credit signature loan or possibly guide you to some military signature loans.

Pittsburgh Home

By Won Kim

When it comes to buying or selling a property it is important that you do some research first in order to find the best real estate agent possible. When it comes to selling say your Pittsburgh home you need to know as much about the selling process as you possibly can. You need to find out what kind of marketing strategy they use, what advertising they carry out and just how knowledgeable they are about the real estate market.

You should never go with a particular real estate agent because they say that they can sell your home for a better price than their competitors. In all likelihood any potential buyers for your home will not be willing to pay more than they feel the property is actually worth. In fact with today's current financial climate buyers are becoming more selective in their choices and carrying out plenty of research before making an offer. One thing they will do is look to see just what other houses similar to your own have recently sold for.

So it is important that you just like any person who may consider buying your Pittsburgh home you do your homework first. It is crucial you do some research into the various agents in your area and create a shortlist of those you are thinking of using. When you want to look more closely at them there are certain questions you should be asking and below we look at what these should be.

1. Find out just how many homes that they have listed and how many they have sold in the previous six months. It is best that you choose those agents who have homes similar to yours on their books. If they are unable to provide you with details of the properties that they have sold then move on to the next one on the list you have made.

2. Enquire about how long it is taking them to sell Pittsburgh homes. Although they may be selling properties quickly it does not mean the market is buoyant. The fact is that one agent may sell homes more quickly than another because they are being sold for under the market price quoted. Again you need to spend time looking at what price the agent originally put the property on the market for and what price it finally sold at. Remember you want a real estate agent who can sell your home quickly but a fair price (close to the market value).

3. Look at how long they have been running their business for and if they are members of any particular real estate organizations. Some agents may the appropriate licenses but may well only choose to run their business on a part time basis. Unfortunately some of these agents are unlikely to want to put in the time and effort needed to sell your Pittsburgh home for you. Rather it may be much wiser for you to go with a full time agent who has only held their license for say 2 years. These will put in the effort and time to ensure that your property is correctly marketed and you get close to the price you are asking for it in the quickest time possible.

About the Author:

For best advice on selling Pittsburgh Home, please review Pittsburgh Home, and Pittsburgh Home

What Does It Mean to Be a Private Money Lender?

By Tomasheus Privetsky

There are a lot of people out there who could potentially become very successful real estate investors, but most people don't even try. Why? Because they themselves don't have the money to invest in property and they think it would be too difficult to try to secure financing through traditional venues, such as a bank or other type of "hard money" lender. However, what they probably don't know is that there is a better and easier way for real estate investors to finance properties and thus have success. That is, through private money lenders.

Private Money Loans: An Explanation

A private money loan is one that is financed through an individual who has spare money to lend and who wants to make a small profit off of that money. This is the most flexible financing option for real estate investors because you get to borrow money from a regular individual, just like you and me, instead of a bank or other lending institution - which can be very impersonal and formal. Banks and lending institutions have rules and regulations that they must follow when deciding who to lend money to, but private money lenders do not.

Why Are Private Money Loans a Better Way to Finance Properties?

Because private money lenders don't have to follow the same strict rules and regulations imposed by the government and board of directors in the same way banks and other traditional lending institutions do, they can choose whom they invest with. That means they may be very willing to lend you money if they see you as someone they want to invest with, regardless of a substandard credit rating or other financial missteps.

The Benefits of a Private Money Loan

As an investor, you can appeal and make your case to a private money lender, explain to them why they should invest in your property, and allow them to come to their own conclusion. But the benefits of a private money loan do not end there. If the lender is interested in your offer, the two of you can then work out a financing and repayment arrangement that benefits both parties. You and the lender can both state your expectations and agree on an interest rate and payment schedule that makes both of you happy.

A private money loan is a short-term loan and therefore, the private money lender may be willing to wait until after you have refurbished and sold the house to receive any payments. This lets you focus on fixing and selling the property instead of having to worry about paying for a property that hasn't actually made you any money yet.

The Downside of Traditional Hard Money Loans

While private money loans can be of benefit to both the borrower and lender, bank loans usually only benefit the lender. That's because the banks get to set the standards and are the ones who set the interest-rate and other fees as necessary. You also can't negotiate payment arrangements or other adjustments with them. That means that even if your credit history is perfect, and even if you're pretty sure you can get financing from a traditional lender, going through a private money lender will likely still be of greater benefit to you.

Private Money Loan Benefits Recap

The private money lender can lend to whomever he or she wishes to and doesn't have to follow specific rules and restrictions in the same way traditional institutions like banks do. This means that even real estate investors who have less than perfect credit histories may be able to obtain financing needed for their properties.

Opens the lines of communication between lender and borrower. Borrower can negotiate an interest rate or flat fee that is almost guaranteed to save money over a traditional loan.

Both the borrower and private money lender can negotiate payment arrangements that will benefit both of them. The lender may even be willing to forgo payments until the borrower has sold the property.

In general, you don't need any financial application to borrow money from a private money lender. Instead, you can talk directly with the lender to try and convince him to take a chance on you and on the property in question.

Unlike institutional bank loans, working with a private money lender will help him see you as an individual with established goals instead of just as a paper application that has to pass specific guidelines.

For all of these reasons and more, private money loans can be the most beneficial and flexible funding option for you as a real estate investor. Using a private money lender lets you have a variety of options and may give a chance to real estate investors who would likely otherwise be turned away by a traditional lender.

About the Author:

Stop worrying about qualifying for loans and take the first step to becoming a successful real estate investor. Learn more about getting funding from Private Money Lenders.

Home Loan Refinance Guidelines

By John Bear

If you have a home loan and you think that your property went up in value by ten percent or more since you took out your current loan, you might be a good candidate to refinance. It can save you loads of money on your mortgage payments, improve your terms, or both.

When you take out a home loan, the bank uses your home as collateral for the loan. The more expensive the collateral is, the lower will be the bank's risk that you will default on the loan and walk away from that collateral.

So, if over the years, the collateral grows in value, the bank's risk is reduced and therefore you should be able to qualify for a lower rate. If your home went up in value by ten percent or more, banks will then consider your home loan to be a less risky investment, and would be able to offer you a lower rate. This is assuming that you kept the same job and income, made all of your payments on time, and your market interest rates are the same or lower.

Having a lower interest rate can benefit you in several ways. You can go for a home loan refinance and lower your monthly payments, or have your shorter loan term refinanced, and that would mean, you will be making the same monthly payment, but you will be able to pay off your home sooner.

Before deciding to home loan refinance, you need to consider the cost of doing the refinance, and then compare it to the savings. If it is costing you $5,000 to refinance, and your savings are only $25 per month, it would not be worth it because it would take you over 16 years to just break even. But if your savings are $250 per month, or 5 years worth of mortgage payments, it is then a good idea to refinance your home loan at that time.

And so, before you apply for a home loan, it is important to ask for copies of your credit reports and review them carefully for any errors. If there are errors, you will need to immediately dispute the errors with each credit agency.

Comparison shopping for a mortgage, on the other hand, will help you find the best home loan offer. The internet proves to be a very useful tool for quickly locating and comparing mortgage offers, and you can even easily screen mortgage loans from dozens of lenders with little effort and time.

A common mistake of homeowners when doing home loan refinance is rushing things through and just accepting the first promising offer they receive. It is important to take your time and learn more about mortgage terminology, as it will really let you understand home loan offers in detail. Keep in mind, you will be able to save yourself more money if you never rush on your financial decisions.

About the Author:

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Asking For financial Help Is Not As Tough As It Seems

By Steve Collins

If you are like a lot of people these days, you may be overextended in your monthly budget. It is very easy to be lured in by the offers of fast, pre-approved credit cards flooding the mailbox. Cashiers at almost every store tempt you by asking, Would you like to apply for a store credit card and save 15% on all your purchases today? Online financial counseling is a step towards improved finances. If you have never considered it as an option, there are a number of reasons to consider online financial counseling.

Although you are far from alone in your concern over financial matters, it is occasionally difficult to admit your mistakes and even harder to own up that you need help. Online financial counseling allows you to seek help in a confidential manner. One advantage is that by filling out the initial appeal for help through the Internet, you can be calmer and more collected than if you had to speak directly to a stranger. It provides you with a professional counselor sympathetic to your situation who will help get your budget back in line with your income.

Online financial counseling helps you recover your financial footing by coming up with a shrewd budget based on your particular situation. Sometimes, it is just easier for someone on the outside to see your finances in a clearer light and to help you distinguish your needs from wants.

Often, it is a matter of making yourself face the choice of brown-bagging your lunch and saying No to your daily $3.00 latte or deciding to hold off on buying that new sofa until you can pay cash for it. Financial counseling can get you moving back in the proper direction by teaching you how to make sensible choices. Also, renegotiating some of your credit may even be a possibility.

If you want to learn to live within your means and be financially free, you would do well to check into online financial counseling. You will not know what it can do for you unless you set the mouse in motion and log on. What are you waiting for?

About the Author:

Steve Collins is an author and journalist. In these trying times, he knows the importance of obtaining effective Debt Solutions if necessary. Read his article about Debt Solutions here.

Get Rid Of Credit Card Debt

By Michael Benifez

The next time you whip out your credit card to pay for something, you need to remember that as easy as it is to use that card, it is just as easy to run up an enormous debt. Most people do this without a second thought, but it happens before you even realize it.

Attempting to pay off credit card debt can be daunting and a scary prospect, it requires discipline and dedication. Most people do not intentionally run up debts they cannot pay, it happens over a long period of time due to reckless and careless spending. Credit card debt out-of-control does not take long to catch up to you, and sooner or later you are going to feel the pinch.

The harsh reality is that there is no quick fix to paying off your credit card debts, but there are things you can do now to be proactive and handle the situation. The first step is to cut up all of your credit cards and stop spending or the temptation to overspend.

You have to learn to live within your means and not to be heavily dependent upon the ease of using a credit card in daily life. You have to learn to live on a budget for things such as groceries and gas, these are everyday expenses that you cannot avoid. You may find you have difficulty in paying off monthly expenses, but you need to move forward to the next step in getting out of credit card debt.

Most people find breaking the reliance on credit cards is a very hard cycle. You have to work hard to save money in whatever way you can and avoid spending money on things you do not need. If you have the chance to work overtime at work do it, and take the extra money and apply it to paying off the balance on your credit cards.

You may even have to buckle down even further and take on a second job to get the debt paid off faster, or you might as well try some balance transfers options if you are using more than one card, you have to do whatever it takes if you are going to get out of the vicious cycle of credit card debt even if you have zero-interest balances. You will hate giving up things you enjoy and you will possibly even resent not being able to spend your extra hard earned money, but at some point all this hard work is going to pay off.

You will see the end results when you see your balances shrinking each month. If you work your plan and plan your work, you will be willing to make the sacrifices necessary to get control over your finances again.

About the Author:

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