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The Bankers Push Back-HERE WE GO

Admin — Sun, 05 Sep 2010 04:38:03 +0000

I made a video called “The Collapse of Commercial Is Coming and Fast” back in May. In that video I broke down what was coming in commercial real estate loans. I was right. Banks are pushing clients out the door and telling them they do not want to redo their loan. This means the borrower has to find new financing somewhere else. No one is loaning money right now and banks will be upside down! www.bloomberg.com www.bloomberg.com

iMogul: Plano wunderkind creates iPhone app

Admin — Sun, 05 Sep 2010 03:17:57 +0000

iMogul: Plano wunderkind creates iPhone app
Ronnie Baker / staff photo – Twelve-year-old Freddie Ann Hodges demonstrates MeasureMe, the iPhone application she created with her father, Clark. The app uses the iPhone’s camera function to measure its user.

Flexible Tracker Mortgages Explained

Admin — Sun, 05 Sep 2010 01:32:41 +0000

Flexible tracker mortgages combine flexible repayment options with an interest rate that tracks the Bank of England Base Rate.

Flexible tracker mortgages offer several benefits to the borrower: you have financial freedom and control because you can make overpayments, underpayments, and payment holidays, according to your financial situation. This is a particularly attractive option for self-employed workers and commission-only workers who have an unpredictable income.

With a flexible type of mortgage, you can save yourself a lot of money if you are able to overpay on your monthly repayments, either on a regular basis or from one-off lump sum payments. The consequence of making overpayments is your mortgage is paid off early and thousands of pounds can be saved in interest payments– a feature that is attractive to everybody! Underpayments and payment holidays (normally allowed when a set number of overpayments have been made) are a useful feature, but can prolong the life of the mortgage.

Flexible tracker mortgages also track the Bank of England Base Rate. When the Base Rate is lowered, your mortgage interest rate will follow suit, and the changes are effective as soon as the Base Rate changes are announced. However, if the Base Rate increases, your mortgage interest rate increases. With a tracker, your monthly repayments tend to keep changing more than any other type of mortgage. The downside with a tracker, it has no upper limit; there isn’t a cap for how high the interest rate can go.

Many tracker mortgages only run the tracking element for a limited time, (anything from 1 to 10 years) before the mortgage is reverted to the lender’s standard variable rate of interest (SVR). If you are considering a flexible tracker mortgage for a short period, you need to find out what the SVR is likely to be once you’ve stopped using the tracker feature. A standard variable rate mortgage means the interest rate is set by the individual lending company and it is their decision as to whether they pass on the Bank of England’s rate change to their customer.

A tracker mortgage can offer very competitive rates, but if you’re on a tight budget and can’t withstand any increase in your monthly mortgage repayments, then you’d probably be safer with fixed rate mortgage instead. A tracker mortgage is probably best suited to people who enjoy a little more risk in their lives.

When it comes to choosing a flexible tracker mortgage, choose one that doesn’t have an Early Repayment Charge (ERC). ERCs are normally charged as a percentage of the outstanding amount owed on your mortgage (approximately 3%). This charge can easily run into thousands, especially if you have a large mortgage.

It is important to look at flexible tracker mortgages as a whole – deals with the lowest rates may initially look attractive, but they often have the highest fees. And, the lowest rate deals may come with a lower Loan-to-Value (LTV). The LTV is the ratio of the amount of money you can borrow compared to the value of the property. To be eligible for the lowest rates, you may need a larger deposit or a larger amount of equity in your home.

To determine if flexible tracker mortgages are the right option for you, it is worth consulting an independent mortgage broker. They are trained professionals with a wealth of knowledge and experience to find the mortgage that best suits you needs.

In conclusion, flexible tracker mortgages are ideal for borrowers who want flexibility with their mortgage repayments, and have their mortgage interest keep pace with the Bank of England Base Rate.

Eugene Tyler wrote the article ‘Flexible Tracker Mortgages Explained’ and recommends you visit http://www.offsetmortgagecentre.co.uk/flexible-tracker-mortgages.html for more information on tracker mortgages.

Are Unsecured Loans Really Better?

Admin — Sun, 05 Sep 2010 00:37:49 +0000

by: Devora Witts
One wonders if all the benefits unsecured loans provide really make up for its drawbacks. In this article we analyze both pros and cons of Unsecured Loans and explain why in some situations unsecured loans are the best choice. As with most things, what may be useful for some people can be useless for others and what is disposable for some people can sometimes be essential for others. This is also true as regards to loans. Unsecured loans can sometimes be helpful and sometimes they are the only choice some people have to get finance. Any Purpose? When financial institutions want to promote unsecured loans, they usually claim that you can use an unsecured loan for any purpose. The truth is that there are secured loans that can also be used for any purpose. A home equity loan does not have a specific use and the money you get can be used for whatever you want. Thus, the “any purpose” benefit does not seem to be such an advantage.

No Collateral The other common claim is that since unsecured loans do not require collateral, the risk of repossession does not exist. This is actually true but what they forget to state is that the lender is still entitled to take legal actions to recover what he has lent. Collateral is only a guarantee, it gives the lender several rights over the asset in case there are more creditors willing to recover their money. All the other debtor’s assets will be sold before in order to pay other debts. Loan Amounts It is a common belief that one can borrow more money with a secured loan than with an unsecured loan. This is only true in some cases. With a secured loan, one can borrow as much money as the asset’s value can guarantee. However if someone has a good credit score and many assets, all of this would be “guaranteeing” any loan he might request and thus, he can get a higher amount by applying for an unsecured loan. This is especially true when it comes to unsecured business loans. All the above is also applicable to loan’s length. Loan lenght is also determined by the risk involved for the lender and someone with many assets and good credit, even if he does not offer an asset as collateral, is a low risk prospect.

Tenants And Non-Homeowners As stated at the beginning of this article, unsecured loans are sometimes the only choice some people have in order to get finance. Tenants and Non-homeowners can not offer an asset as collateral and thus, have no other choice but to apply for an unsecured loan. Due to the highly competitive nature of the unsecured loan market, the interest rate charged for unsecured loans has been decreasing over the years and at the present time unsecured loans’ interest rate does not differ much from secured loans’ rate. So, it is not strange that many homeowners are opting for unsecured loans and holding back to their properties in case they need to request a secured loan in an emergency situation.

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The loan king

Apple’s A4 processor takes center stage

Admin — Sat, 04 Sep 2010 23:19:37 +0000

Apple’s A4 processor takes center stage
Apple has deployed its indigenously designed ARM-based A4 processor in a number of new devices, including the iPad, iPhone 4 and upgraded iPod touch. read more

Unsecured Loans: Asset-Free Opportunity For Those In Need

Admin — Sat, 04 Sep 2010 20:39:03 +0000

by: Simon Tauffel
The people who face cash issues in their lives know the actual ups and downs that happen in life. Such a situation occurs in everyone’s life. Also, everybody may not have an asset to act as a shield for bad times. So for such borrowers, there is an opportunity for borrowing money through unsecured loans which does not create any hassle for them. With these loans easily available to be borrowed, the people who do not have any assets can also take up money for their needs easily. These include tenants and non-homeowners. Also, those borrowers who may be having assets to their name but are not willing to pledge them can avail money through this opportunity. The money through these loans lies in the range of £1000-£25000 so that the borrowers do not face a problem in fulfilling their personal needs.

Any desires or needs of the borrowers can be easily fulfilled through these loans like educational funding, wedding expenses, home improvement, car purchase, debt consolidation, travel expenses, vacation holiday etc. The money is required to be repaid to the lender in a term of 6 months to 10 years. The rate of interest for these loans is slightly higher than the secured form due to absence of any collateral pledged with the loan lender to act as a guarantee for loan repayment. So the higher rate helps in cutting down the risk. However there are ways to get lower rate deals. The most effective is online researching. This helps in comparison of all loan quotes offered from which the borrower can then choose the most suitable deals. Also, these loans are available to bad credit borrowers so that they can fulfill their needs as well. They too can research online to get lower rate deals for their needs. The borrowers without assets can get easily money for their needs through unsecured loans. Now they do not have to make any compromise for the important needs in their lives.

The loan king

Using Mortgage Calculators

Admin — Sat, 04 Sep 2010 20:33:47 +0000

Getting a mortgage is one of the biggest financial decisions you will ever make, so you need to know as much as possible about the process. If, like many people you have a busy schedule and do not have the time to go to several appointments with various mortgage providers you should take a look at online mortgage calculators. These are tools which you can use to gain a better idea of the type, size and rate of interest you could end up paying for a mortgage, given your financial situation.

How to use a mortgage calculator

A mortgage calculator is very easy to use and you simply have to fill in certain details about yourself and anyone else that you might be applying for the mortgage with. To begin with you have to input details such as your name, date if birth and current address. Then you will be asked questions about how much you would like to borrow for your mortgage. This can either be the full amount of the mortgage, if you are hoping to get a 100% mortgage. Or it is the amount of the mortgage, less the deposit that you have saved. Today more and more people are opting for a 100% mortgage as they cannot afford to save up several thousands of pounds to pay for a deposit. This is a good idea if you know that you can afford to pay off a 100% mortgage. However your mortgage calculator will help you to work out if this is a viable option for you.

The mortgage calculator will also ask you about any other debts that you might have such as payments to credits credit cards or other loans that you might have. These questions might seem at first to be a little in depth but you need to be aware that they need to be asked in order to come up with the most accurate calculation possible for you. You will also be asked if you can get proof of your salary to support your application, once again all mortgage lenders will ask you for this as you need to prove to them that you can afford to make the repayments on your new mortgage. Any other person who will be named on the mortgage will also have to supply these details.

What happens next?

Once you have inputted all your details into the mortgage calculator it will then work out how much you could borrow for a mortgage and then give you the estimated payments each month in order to pay the mortgage. You will find that this gives you a much better idea of what size mortgage you could get based on the information you supplied the calculator. If you find that the result is not what you expected, and you wouldn’t be able to make the repayments you can simply alter the amount you want to borrow to find what amount you could afford to pay.

Using online mortgage calculators is an excellent way of getting an idea of the size and term of mortgage you could get. It not only saves you the time of going to lenders one by one and filling in endless forms, but it allows you to adjust the amount you want to borrow in order to tailor make a mortgage for you. This kind of mortgage comparison is ideal if you are a first time buyer who is unsure of how much you could borrow and want to check it out for yourself before contacting any lenders. You must be aware however that any results from a calculator are not a mortgage offer and you must contact the lender for a solid mortgage deal.

Jason Jones is a mortgage advisor with Go Direct. All mortgage comparison and remortgages arranged through Go Direct’s online mortgage tools, will get you up to ?100 cash back of the commission paid by the lender for arranging your mortgage. For more information about Mortgage Calculator, and how to get cash back on your visit http://www.godirect.co.uk/mortgage-repayment-calculator.php

Apple TV swings but misses

Admin — Sat, 04 Sep 2010 19:17:44 +0000

Apple TV swings but misses
The previous version of Apple TV was dubbed “take two.” Will the new model be known as “strike three”?

CEO bailouts? How about the homeowners?

Admin — Sat, 04 Sep 2010 16:37:37 +0000

The housing crisis is not just a problem for families facing foreclosure it is a problem for every homeowner in America. As long as foreclosures persist, home values will keep going down, and everyone loses. We are collecting stories from people all over the country who have been hit by the housing crisis so we can show what is really happening on Main Street and we need your help. Have you been affected by the housing meltdown? Foreclosed on? Underwater? Trapped in a predatory loan? Do you know anyone else whose life has been turned upside down by the collapse of the real estate market? Record your story, or the story of a friend, family member, co-worker, or neighbor, and send it to us. Learn more at fightingforourhomes.com.

Mortgage Quotes and How to Get Them

Admin — Sat, 04 Sep 2010 15:32:26 +0000

If you are looking to buy a house or other property you first of all need to know how much you can borrow. When you know this you can then look at properties that are in your price range and know that you will not be over stretching your finances if you decide to put in an offer to buy. Mortgage quotes are a no obligation quote that will enable you to decide what size of mortgage you can get, the various interest rates available to you and the mortgage length. Many people are still unaware that they can be offered different mortgages by different lenders and the size of the mortgages many vary greatly between lenders also. Some lenders might not even offer you a mortgage after they have quoted you due to your financial situation. This is why getting a few mortgage quotes is so useful.

Do I really need to get several quotes?

In short the answer is yes. One mortgage quote may differ dramatically to another one and you may find that a quote that you thought was very good is poor in comparison to another one. By getting as many mortgage quotes as you can you will be in a better position to choose the one that is right for you. For example, some lenders might not want to offer you a mortgage due to your income, credit rating or even employment situation. This should not put you off however as there will be a lender that is willing to offer you a mortgage quote that you could apply for and be successful with, you just need to look at lots of different mortgage quotes.

By only going with one mortgage quote you could end up paying a lot more in interest, in fees and your mortgage could end up being for a longer term than you originally wanted. It is too tempting especially if you have bad credit to go with the first mortgage quote that seems to fit what you are looking for.

How do I get mortgage quotes?

There are various ways in which you can get mortgage quotes, from going directly to lenders either in person or on the telephone to going online for instant mortgage quotes. Using an online service is perfect if you want to look over lots of different mortgage quotes and compare them side by side. Such tools will also filter out lenders that will not give you a mortgage quote, this means that you will be left with the lenders that will want to give you a mortgage quote.

Going online to get mortgage quotes is a fast and easy way of getting quotes without having to fill in endless forms as you would if you went to lenders websites individually. Mortgage quote services will ask you to input some basic financial information to search the lenders on their records, then you will be given a list of lenders who match your circumstances, you will then be asked more questions to narrow down your search further. The first questions you will be asked in order to get your instant mortgage quotes are if the mortgage will be a joint or single application, the price of the property you are looking at, how much you want to borrow (this is not always the same as the mortgage amount in some cases), what repayment period you would like and then what kind of mortgage you are looking for.

Once these details have been inputted you will then find out the lenders who could, in theory give you a mortgage quote. The only thing left for you to do then is decide which looks the best for you and contact them, what could be easier?

Jason Jones is a mortgage advisor with Go Direct. All instant mortgage quotesand remortgages arranged through Go Direct’s online mortgage tools, will get you up to ?100 cash back of the commission paid by the lender for arranging your mortgage. For more information about mortgage quote, and how to get cash back on your visit http://www.godirect.co.uk/mortgage-quote.php