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(153)Like it or Not, Finance Matters, a Lot


Finance. We hear that word thrown around quite a bit and used in phrases like in the world of high finance or financing options are available for those who qualify, but what does it really mean? It doesnt take an E.F. Hutton or J. Paul Getty to understand that the term finance and variations like financial, financing, financier, and such are related to monetary matters.
You may be surprised, however, just how many people have no real idea what is meant by finance. In fact, its safe to say that much of America has a better fix on the goings on inside the Big Brother house than they do on what happens at the Federal Reserve! This is sad, but true.
The American Heritage Dictionary of the English Language offers four definitions for the word finance.
They are:
1. The science of the management of money and other assets.
2. The management of money, banking, investments, and credit.
3. Finances Monetary resources; funds, especially those of a government or corporate body.
4. The supplying of funds or capital.
The third and fourth definitions are not what were dealing with here as they indicate the funds and capital belonging to a person, persons, or business entity (My finances are in total disarray!) and the act of lending money (I couldnt buy the new SUV because I didnt qualify for the financing.).
The first and second definitions, however, are right on the, um, money. This is what theyre talking about on CNN Financial. This is what concerns economists and financial analysts. This is what should concern you. The world of finance in the United States revolves around several things.
These include the stock market because the prices at which stocks trade are a direct result in most cases of how well the companies are doing, the actions of the Federal Reserve which sets interest rates and is responsible for the coining of money, and the value of the American dollar as compared to other national currencies.
Many people think that, unless they have significant investments and considerable assets, financial matters like these do not concern them. Nothing could be further from the truth.
The unfortunate fact is that, while the wealthy are more immediately concerned with finance, the common people are usually the most affected when extreme changes in the financial world happen. The stock market crash of 1929 is a prime example of how drastically financial upheavals can effect everyone in the country.


About The Author
Nathan Dawson writes for http://www.marriedfinances.com and http://www.successfulmarriageresource.com, great online sources for marriage and finance information.
Written by: Nathan Dawson


(154)Lions and loans: why finance should always be personal


Different types of loans are available for almost every aspect of your life: personal loans, car loans, secured and unsecured loans, home loans, homeowner loans, student loans, graduate loans and career development loans (CDL). If you’ve suffered from credit problems in the past and now hold sub-prime characteristics, then you will be eligible for adverse credit and adverse loans.

You can always borrow money these days, but it is crucial to read the small print as the difference between interest rates is enormous and stories of people forced to pay off amounts which are five times the amount of their original loan are not uncommon.

There are also numerous stories on unemployed couples being sold loans, such as the case of Julie and Kevin Davies, reported by the BBC. The couple were already experiencing difficulty in paying off their existing debts of £4,000, when they were sold another £20,000 loan by Lloyds TSB.

Loans of £1,000 to £25,000 can be taken out and repaid over a period typically varying between six months and 10 years depending on your credit history and available finances. Loans are usually secured or unsecured. Secured loans are tied to your house, so you can be forced to sell the house if you are unable to make the repayments. Unsecured loans do not impose the same restriction, though a default on repayments may result in being “credit blacklisted”. Once blacklisted, you may get future credit card, mortgages and hire purchase applications rejected, as well as face a potential higher rate of interest for all existing debts.

It is absolutely crucial that you shop around for a loan and not just through the high-street banks. The internet offers a wealth of information available and there are many sites which compare the prices of products, and to really ensure you get a good deal – compare the different comparison sites. In the UK moneyfacts, moneyextra and ( moneynet ) offer price comparison services for a wide range of loans, amongst other financial products. These sites also offer consumer information guides, which you can either print directly off the website or download on to your computer.

Do read all the terms and conditions carefully and ask friends, family and your financial adviser / bank adviser if you don’t understand a particular statement. The annual percentage rate (APR) is particularly important and can make a difference of thousands of pounds over the term of the loan.

Unsecured loans can be purchased from building societies and banks, as well as certain high street shops. Unsecured loans may be taken out for something specific or simply to make life more ‘comfortable’. The process usually involves:

* Requesting a typical amount for the loan
* Discussion of interest rate (APR) and possible loan payment protection insurance
* A credit check, you may wish to get one of these first, so you know what to expect
* Reading the terms and conditions and then signing the agreement
* Money can then be transferred into your account

In the discussion of secured versus unsecured loans, moneynet explains that although secured loans can offer lower interest rates and repayments, many people do not wish to jeopardise the potential loss of their home in the default of a repayment of a secured loan. In unsecured loans, pay attention to the difference in APR, term of the loan and any additional charges such as an early settlement charge or redemption penalty.


About the Author
About Rachel:
Rachel writes for the personal finance blog Cashzilla:
http://www.cashzilla.co.uk
Rachel is a disillusioned, disaffected and broke graduate, exploiting new media for financial therapy.
E-mail: rachel@positiveinterest.com
Phone: 0131 561 2251
Written by: Rachel Lane


(155)Loans for self employed - creating finance opportunities for a group long ignored

 
When self employment was suggested to me as a method of generating income, I had never thought I was taking the ire of loan providers. Mention that you are self employed and you can immediately watch the loan providers tightening the noose on their funds. Lending loans to the self employed person is considered a very risky venture. The business of the self employed persons goes into losses and so does the money lent. This is what loan provider think of the self employed people.

But, are self employed people so vulnerable. No! Self employed people comprise of some of the richest people in the UK. Most of the people who have chosen self employment were the ones who voluntarily left their high paying jobs to fulfil their calling. It is true that their income undergoes variations, but this only shows that a regular loan with fixed repayments is not meant for them. They need a loan wherein the loan repayments can be moulded according to their income structure.

Loan for self employed becomes one of the most popular finance options for the self employed people because it moulds repayments according to the income of the self employed. How much is to be paid and when it is to be paid will be decided by the borrower himself. The feature of flexibility comes in three forms- underpayment, overpayment, and payment holiday.

Underpayment is a facility wherein borrowers can pay less than the specified amount on loan for unemployed. Thus, if it has been decided that the repayments will be £100 and the borrower's income in that month or quarter is not enough to make the specified repayment, then he can request the repayment in that month to be only £50. There is a reduction in the monthly repayment which connotes that there has been underpayment. Before allowing borrower to make underpayment, the lender needs to be assured that borrower has a good paying capacity. The paying capacity is best revealed through overpayment.

Overpayment means paying more than the specified amount. Therefore, if the borrower makes a payment of £150 instead of £100, it will be considered as overpayment. Overpayment is made when the borrower has made a good profit. While overpayment makes a provision for the leaner months, it also helps to pay off the loan for self employed quickly.

Loans for self employed are also known for payment holidays. Payment holiday is a period when borrower is completely allowed to skip repayments. This is when borrower is facing difficult times and would not be able to make repayments altogether. The payment holiday maybe for a month or a set of months, depending on the period for which the difficult times last.

Another feature of loans for self employed is that they allow the borrowers themselves to certify their income. In the absence of any accounts or not well maintained accounts, self employed borrowers are refused loans by most loan providers. The self employed people are normally seen to not disclose their actual income as this will require them to pay higher tax. However, when they approach loan providers for loans, they do not want the income revealed to be considered. This will qualify them for a lower value of loan. However, the loan providers who know how the self employed people function, create specific finance options for them. They allow the self employed people to themselves certify their income. Self employed loan is also known as self certified loan because of this feature.

Since the payment in loans for self employed differs from the regular loans, shall the method of charging interest not differ? It certainly differs. While interest on a regular loan is calculated on a periodical basis, on loans for self employed the interest is calculated daily. This arises from the fact that the repayable amount on loans for self employed fluctuates very much. If the method of charging interest used in the regular loans is used in the loans for self employed as well then borrowers might have to pay higher rates of interest. Thus, the method of calculating interest daily is utilised in the loans for self employed. The APR on loan for self employed varies from 10.9% APR to 27.60% APR with an average APR of 17.5%.

Accordingly, self employed people need not feel that they do not have sufficient finance opportunities. Proper search can lead them to loan providers who are ready to mould the features of their loans in order to serve the self employed people.

Christian Phelps is a Masters in Accounting and Financial Management from Lancaster University Management School . He has been working with loan for self employed since his academics got over. To find Self employed secured loan,unsecured self employed loan visit http://www.loanforsel femployed.co.uk .


About the author:

Christian Phelps is a Masters in Accounting and Financial Management from Lancaster University Management School . He has been working with loan for self employed since his academics got over. To find Self employed secured loan,unsecured self employed loan visit http://www.loanforselfemployed.co.uk .
Written by: Christian Phelps


:(156)Low Credit Score Mortgage Refinance - Refinance Loans For All Credit Types.

 
Having bad credit may seem like the end of the world. Because of a negative credit rating, you may be turned down for personal loans, credit cards, auto loans, and mortgages. Those unfamiliar with bad credit lenders may attempt to obtain financing through a bank or credit union. However, these financial institutions rarely offer bad credit loans. To get approved for financing with bad credit, you must select lenders that specialize in all credit types.

What are Bad Credit Refinancing Lenders?

Declining interest rates have many homeowners contemplating refinancing. Years ago, the average home interest rate was about 9 percent. Today, rates are as low as 5 percent. Those who refinance will receive a significantly lower rate. Hence, their monthly mortgage payment will also decrease. The extra money could be used to start a savings accounts or payoff bills.

Low credit score individuals can greatly benefit from a refinancing. Lenders that specialize in bad credit refinancing are called sub prime lenders or high risk lenders. Their objective is to help bad credit homebuyers acquire a mortgage or loan at reasonable rates. If you were to apply for a loan with a prime lender, the rates quoted will be much higher, which defeats the purpose of refinancing.

Advantages of Low Credit Score Refinance Mortgages

Even though bad credit mortgages may include additional fees, these loans are perfect for rebuilding your credit. Furthermore, you have the option of a cash-out refinancing. This involves refinancing your mortgage and borrowing some of your home's equity. This is great for people hoping to improve their low credit score. The funds can be used to consolidate and eliminate debt, which will greatly increase your credit rating.

Locating Bad Credit Refinance Lenders Online

Applying for a bad credit refinancing online is quick and convenient. Many sub prime and high risk lenders have online application forms. You must supply information concerning income, employment, credit rating, and desired loan amount. After submitting information, the lender will review your application and remit a quote. The quote will consist of offered rate, terms, mortgage payment, and estimated closing costs. Applicants may accept or decline the offer. Before accepting an offer, request quotes from at least four bad credit lenders.


About the author:
View our recommended Bad Credit Mortgage Refinance lenders or view all of our Recommended Refinance Lenders.
Written by: Carrie Reeder


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