Unsecured loans are considered a greater risk and so the interest rates on these loans will be higher than on secured loans. Since this type of loan is not secured by any valuable property but only a “promise” of repayment, the borrower would be required to have a good credit history. Credit history is provided by a credit report, and reflected by a credit score known as a “FICO”.

You may be shopping for a bad credit loan:

• If you have a history of late payments
• If you have missed payments
• If you have ever defaulted on a payment

Payday Loans do an enormous business in poor, lower income, and even middle income neighborhoods. Often seen behind neon lights and barred windows – looking like pawn shops with an adjacent liquor store, they may also cash checks for a percentage. A payday loan provides the borrower instant cash with the understanding that he will pay back the amount on his next payday. These loans, also known as costly cash, are not secured.

Other types of financial assistance include debt consolidation loans that help forestall forclosure and bankruptcy, student loans, and student loan consolidation

For businesses, assistance is essential in starting the company, purchasing inventory, or investing in capital equipment. The government doesn’t back private lenders, such as Mr. Luciano, so your credit history is very important when being considered for a personal loan. If your credit history is bad or non-existent, you will undoubtedly be charged a higher interest rate.

Remember, you can always get a personal loan with a co-signer, and by making timely payments, you’re credit history will improve. As your FICO score rises, you can lower your interest rate, stop worrying about your kneecaps, and find plenty of legitimate lenders.

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Technorati Tags: Bad Credit Personal Loan, Debt Consolidation Loans, personal loan, Student Loan Consolidation

Credit reports list your credit accounts including auto loans, credit cards, home mortgages, student loans, and other lending activities. Credit reports are used by creditors and lenders to decide whether to grant you credit, to insurance companies to decide whether to provide you an insurance policy, to landlords to decide whether to rent you a house or an apartment, to current or prospective employers, and to companies that mail unsolicited offers of credit known as inquiries.

You can request your free credit reports at www.annualcreditreport.com or by writing to Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281. When a lender orders your credit report, ask to see it (they usually get your credit score also).

If you discover an error on your credit report, write to the credit bureau and explain why the entry is incorrect. This won’t affect your score, as long as you order your credit report directly from the credit reporting agency or FICO. The errors might include someone else’s credit history (similar name), an entry that was never updated or should be removed, or a bill you challenge.

The FICO score counts inquiries or requests a lender makes for your credit report or score when you apply for credit. Inquiries usually carry the most weight if you have a limited credit history or if there are other existing issues such as late payments or high debt. One credit inquiry will usually take less than five points off a score. Some scoring systems consider the source of credit that a consumer uses, and consumers who rely on finance companies and other subprime lenders may receive lower credit scores. By comparing this data to hundreds of thousands of other credit reports, credit reporting agencies calculate a number that can be used to determine a level of credit risk. An agency’s credit score should also include its scoring scale and how scores are derived.

Only inaccurate information may be eliminated from your credit report. If accurate, negative information remains on your credit report as long as governing laws allow. Credit reporting agencies must investigate your contention within 30 to 45 days, usually by contacting the reporting entity to verify the information. They will then notify you that they have corrected your report, or that they believe the entry to be accurate. If you are successful in challenging information in your credit report, you should notify whomever you’re dealing with (bank, credit card company, collection agency, insurance company, court clerk, etc.) in writing.

You may request a “freeze” from the credit bureaus. A security freeze prohibits, with explicit exceptions, the credit reporting agencies from releasing the consumer’s credit report or any specifics from it without the expressed authorization of the consumer. The credit reporting agency may charge up to $10 for each placing, removing or temporary lifting of a security freeze.

To place a freeze, you must write to each of the three credit bureaus ( Equifax, Experian, TransUnion) using this example: Date Equifax Security Freeze P.O. Box 105788 Atlanta, GA 30348 Dear Equifax: I would like to place a security freeze on my credit file. Within 10 business days after receiving your letter to “freeze” your account, the agencies that compile the credit reports will send you a confirmation letter containing a unique PIN (personal identification number) or password.

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Technorati Tags: credit, credit cards, Credit Inquiries, Credit Reporting Agency, credit reports, Fico Score, loans, mortgages

Online real estate training is becoming more and more popular and may be a convenient option for you. For example, USA Real Estate License offers Virtual Tutor System computer based training and licensing, with 51 separate real estate schools designed for each of the 50 states, and the District of Columbia.

Each course provides you both national and state real estate license exam questions, answers and explanations covering all aspects of your specific state’s real estate license exam. You either pass the Real Estate License exam using the Virtual Tutor System, or don’t pay. Supposedly, the Virtual Tutor System NEVER expires and you will never have to pay another fee.

You install the exam prep system software for the Virtual Tutor Real Estate License on your computer, with free license exam question updates. No need to attend far away real estate school classes or worry about a server being down.

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Technorati Tags: Real Estate License, real estate schools

Enjoy the laid-back lifestyle of Del Mar or the excitement of America’s 6th largest city San Diego, home to the Chargers and the Padres. San Diego County has an economy bigger than some countries. You’ll find Del Mar a perfect place to live, retire, do business, or visit. A mild year-round climate combined with its beaches, outdoor activities, and nearby historic attractions create an almost irresistible combination. Whether it’s the breathtaking sunrises over the mountains to the east or the glorious Pacific sunsets, Del Mar is a constant pleasure.

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The Steinhatchee River languidly winds its way between its namesake on one side and the little town of Jena on the other. The river is in fact the Main Street of both towns. The river empties into the Gulf of Mexico about 4 miles from town, or as one local puts it, “only a blunt and a 40 away”. This part of the Gulf delivers some of the nation’s best fishing — snapper, trout, grouper and more. In July and August, during scalloping season, visitors with nets, flippers and snorkels descend on Steinhatchee, all determined to get their share of the abundant catch.

When the town got a 911 emergency calling system a few years ago, everyone had to finally name their streets. Other than that, Steinhatchee’s oceanfront real estate is pretty quiet.

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In eastern Fairfax County, at the Great Falls of the Potomac, remains can be found of Matildaville and the Patowmack Canal designed by our first President. The history of Washington’s colonial and revolutionary war period is found at many other nearby sites such as Woodlawn Plantation, River Farm, and Gunston Hall. George truly does sleep in Northern Virginia. He and wife Martha are interred at their colonial estate Mount Vernon, on the shore of the Potomac.

Northern Virginia real estate is only minutes by metro or car from monuments, museums, galleries, and the many other attractions of Washington. Of course, many battlefields of the Civil War are to be found here – the frontline of America’s greatest drama.

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Their primary businesses include commercial and retail banking, consumer finance, asset management, mortgage financing and servicing and payment processing. National City operates over 1,100 banking offices and more than 1,600 ATMs throughout our network and employs more than 33,000 individuals.

With 300 lending offices in 37 States that service the remaining continental U.S. through “direct-to-consumer” telephone and Internet Preferred Lending Centers. National City offers financial services to both consumers and small businesses. This includes credit cards, pre-paid cards, checking, savings, investment, CD’s, home loans, student loans, mortgages, wealth management services, and insurance. The National City Mortgage online center offers Fixed Rate Mortgages, Adjustable Rate Mortgages, FHA/VA, Jumbo, lot loans, construction loans, refinance, and home equity loans.

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Technorati Tags: Adjustable Rate Mortgages, Home Equity Loans, National City Mortgage

At the “Crossroads”, (Interstate Highways: I-40, I-24, and I-65), Nashville has been since its founding a transportation and trading center. Forbes Magazine predicts Nashville will have one of the country’s highest job growth rates over the coming five years. Its low unemployment (about 3%), economic strength, and no state income tax helps keep the cost of living considerably lower than other cities of comparable size.

Fortune Magazine cites Nashville, a city of 600,000, as one of the 15 best U.S. areas for work and family. Property taxes consist of a county and, perhaps, a city component. The total rate is applied to the assessed value, which is 25 percent of the appraised value for residential Nashville real estate (40% for commercial real estate).

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• An application fee charged by your lender for the costs of processing your loan request and checking your credit report.
• Title Search and Title Insurance is charged for examining the public record to confirm ownership of the real estate, and for an insurance policy, usually issued by a title insurance company, that insures you for a loss caused by discrepancies in the title to the property.

Average costs:

• Application Fee $75 to $300
• Appraisal Fee $150 to $400
• Survey Costs $125 to $300
• Homeowner’s Hazard Insurance $300 to $600
• Lender’s Attorney’s Review Fees $75 to $200
• Title Search/Title Insurance $450 to $600
• Home Inspection Fees $175 to $350
• Loan Origination Fees 1% of loan
• Mortgage Insurance 0.5% to 1.0%
• Points 1% to 3%

A homeowner should expect to pay an average of 3 to 6 percent of the outstanding principal when refinancing, plus any prepayment penalties and the costs of paying off any second mortgages that may exist.

Remember, always compare the mortgage rates of at least four lenders and negotiate for the best deal. Let the lenders know that you are shopping and ask them to meet or beat your best offer.

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The government also has various programs aimed at helping families who are having difficulty. New commitments promise several steps that will benefit consumers including:
• Lowering the cost of getting a mortgage.
• Expanding availability of low down-payment mortgages.
• Working to increase the supply of affordable housing.

Sales of new U.S. homes have fallen to the lowest level in 20 years after decades of unprecedented growth and the strongest home-buying period on record. New home sales are at present fairly stagnant as buyers await the economy’s recovery. The median sales price for a new home fell to $197,600 in December from $204,300 a month earlier. For the year as a whole, the median sales price hit a record high $193,400.

As sales have dropped, the inventory of unsold homes on the market rose in December to the highest level since June 1989, pleasing the mortgage buyers. This represents a 5 months’ supply, the largest since February. Although it’s still considered a buyers’ market, sellers have been gaining strength with the strengthening economy.

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