Jul 28

check your credit before refinancingFor many people, now is a smart time to look into refinancing their home mortgage. Interest rates are at historic lows, and while many lenders were nervous about extending new loans or refinances, the economy is slowly coming back and more lenders are willing to take a risk. But before you apply for better terms, take a look at your credit and make sure it’s as good as it could be.

Pay Any Small Collection Amounts

Many people have one or more small collection accounts on their credit reports. They may be $50 or $100 but they can have a big impact. Too often people believe that since they’re such small amounts they won’t have a big impact on credit scores. Think again. The reality is that a delinquency is a delinquency and anything you can do to remove it should be done. Once they’re paid, ask for a paid in full letter from the creditors – including the original account number. Often accounts are sold and the company you end up paying won’t be the original lender, but you do need the original account number in order to cover your bases.

Get Any Discrepancies Cleared Up

It’s common for credit reports to contain inaccurate information. Sometimes it’s a case of a debt you never owed, sometimes it’s a case of a debt you’ve paid still showing up. That’s why it’s important to have letters stating that you’ve paid the account in full. If you have discrepancies on your credit report, contact the credit reporting agency and ask to have them cleared up. Make sure you check all three agencies because the information on one report may not be identical to the information on another report.

Make Sure Balance Information is Accurate

There may be outstanding debts you’re working on that show inaccurate balances. This is one of the most common things that people don’t closely consider when they’re checking their credit report. While a difference of $10 may not make a difference, a discrepancy of thousands surely could. Remember that one of the many things a lender will look at is your credit to balance ratio, which essentially means that they want to see a borrower who hasn’t maxed out all their lines of credit and is paying off the credit they do have.

Document Your Income

Before you apply for a refinance, make sure you have all the documentation you need. It’s true that you won’t have to hand it over for quite some time (until the process officially begins) but remember that if you don’t give accurate information then you could end up in trouble down the road. Gather pay stubs, mortgage payments, credit card balances, information on child support, and other information before you apply. Visit http://www.refinancehomemortgageguide.com/ to get detailed information on the application process and other factors you should weigh before you decide if now is the right time to move forward with a refinance. It may always seem like a good time to save some money on your monthly payments, but if you could take simple steps to improve you credit, then it’s worth it to wait and get a lower interest rate.


Jul 27

Are you on the lookout for the right life insurance company for your needs? If so, one of the first things you may want to consider is how other customers have felt in the past, as well as how the industry experts view each company. That’s where life insurance company ratings can come in handy. Keep in mind that this information will only be one thing to consider. Just because one company offered the best rate to someone else doesn’t mean they can offer you the best rate. Likewise, the opinion of someone else only goes so far because they may not be looking for the same things you’re looking for.

Another important factor to consider is whether or not the company you’re considering offers all the types of coverage you’re looking for. For example, it used to be fairly easy to find 30 term life policies. These policies had the same rate per month for the length of the policy, and the policy covered the insured for 30 years from the time the policy was taken out – provided they continued to pay their premiums on time. In the last few years, fewer and fewer companies are offering this policy and instead have a 25 year term life as their longest.


Jul 26

You want your home to last as long as possible, and the good news is that there are some simple steps you can take to make sure it does. For example, a leaky toilet may initially seem like a minor inconvenience, but that wasted water can run up your water bill, and actually damage your bathroom floor. Calling in a plumber to take care of the leak will cost a few bucks now, but it could potentially save you from having to make big repairs in the future so it’s well worth it. In fact, virtually any simple repair you can make now could lead to big savings down the road.

Another way to ensure you’ll have your home for as long as possible is to get the right homeowners insurance coverage. Your goal should be to never have to use it, but if you do then you want to make sure the coverage is adequate. Call around and get several homeowners insurance quotes so you can be sure you’re getting both the best deal and the best coverage. Read your policy carefully to be sure that all your valuables are covered, and that buildings not attached to your home, like sheds or garages, are also covered.


Jul 25

Refinancing is a smart move for many homeowners but it can also often be a confusing process. The lenders you work with will often assume that you understand certain terms. After all, they work with these documents every day, so it’s difficult for them to know what people may need help with and what people already understand. Never be afraid to answer questions to get clarification on your loan. This is a loan that you’ll owe for many years to come and it’s up to you to make sure that you understand what you’re agreeing to.

On the other hand, many homeowners don’t know things about refinancing your home mortgage that they don’t even know to ask about. For example, do you know when to stop paying your original loan? You may think that as soon as you sign the refinance documents then you’re off the hook for the original loan. That’s not always the case. If you’re refinancing with a different lender then there may be lag between the date you sign on the dotted line and the date the 1st mortgage is actually paid off. It’s up to you to ask your refinance lender and your old lender to ensure that you’re not double paying – and that you’re staying up to date on all payments.


Jul 24

Many people don’t understand the importance of having a home inventory. The reality is that anyone who has home owners insurance or renters insurance should have one. In the event that something happens to your home, whether you’re robbed or there is damage extensive enough that many items are no longer in your home, would you be able to go room by room and name every missing item? Most people can’t, and not having an inventory to check items off from can cause them to not claim many items they were eligible to claim. Sure, it can take some time, but in the end you’ll be glad you did it.

You may choose to download a template from the internet, which will allow you to just fill in a few blanks and be on your way. If you’d prefer to do it by hand, you’ll need to note several things about each item: quantity, item name, serial number (if applicable), year purchased (if known), and cost (estimated if necessary). You can take photos of expensive items to show their condition and attaching a receipt to your inventory will make it even easier if you have a claim against your home owners insurance Houston. As you add items over time, simply add to them to the inventory too.


Jul 23

Buying a home is one of the biggest investments you’ll ever make in your life – if not the biggest. That’s why it’s important to consider all your options and to ensure you know what you’re getting into before you get started. One of the tools you should have in your belt is a mortgage interest calculator . This tool can come in handy in several ways. First of all, it’ll tell you exactly what your mortgage payments will be every month based on the amount of loan you plan to take out and the interest rate your bank is offering you.

There are different types of these calculators available so be sure you’re choosing one that will work best for your needs. For example, some will also include things like insurance and property taxes. These additions will help them to give you a more accurate idea of exactly what you’ll be paying. In some areas, property taxes can be significant, and homeowners insurance will typically be required by your lender. Look for a calculator that gives you the most relevant information for your particular needs so you can be sure that it will be as helpful to you and your situation as possible.


Jul 22

Whether you’ve shopped for life insurance before or you’ve never done it, understanding the available products can be confusing and sometimes frustrating. However, we’ve compiled this simple explanation for the products you’ll find available from Colonial Penn. Keep in mind that these can vary by state, so we’re providing only information on the most frequently available coverages in all states. First up is the Guaranteed Acceptance Life Insurance that’s available for those from 50 – 85 years in age. Typically no physical or medical questions will be required. Another option is Medicare Supplement Insurance, which is available to those currently on Medicare.

Term Life Insurance is typically offered up to $50,000 for those from 18-75, though it’s usually renewable up to age 90. No medical exam is required but you will have to answer a few health questions. It’s offered through the Colonial Penn Patriot Program. Two Term Life Insurance options are available for those 18-77, 5 and 20 year, and with coverage of up to $25,000. Finally there is Whole Life Insurance up to $25,000 for those 45-75. Medical exams are not required for these policies either, though a few medical questions will determine whether or not you’re eligible for coverage.


Jul 21

When you’re expecting a new baby, the last thing you probably want to think about is getting life insurance. However, this can actually be exactly the time that it makes the most sense to invest in a life insurance policy. After all, now you’ve got even more financial responsibility that you want to know is taken care of in the event that something happens to you. Here are a few things to think about as you add life insurance to your list.

Consider Today as the Calm Before the Storm

It’s true that soon you’ll have an addition to the family, but it’s also true that right now you don’t. Right now you can be rational decisions – without the effects of sleep deprivation that are par for the course when a new baby is in the home. You’ll have a million things to do once the little one arrives. Investing in live insurance now is just one more thing you can do to prepare. Simply find the best policy, enroll, and add the expense to your budget. You won’t have to worry about it again, but you’ll know that if something happens your family is taken care of.

Consider How Well Suited Life Insurance is for Your Situation

Many parents believe that they can’t afford life insurance, or that it’s something they’ll get around to when their financial situation improves. The reality is that life insurance exists exactly for those who aren’t in the best financial situation. After all, once your financial situation improves and you own a home, have a retirement account, having money in savings, and have other investments, your need for life insurance will not be as strong as it is now. It’s exactly because you don’t have this safety net that you need life insurance coverage to ensure your family is safe no matter what.

Consider the Likely Surprisingly Low Cost of Coverage

Young parents often don’t realize just how inexpensive life insurance can be. The truth is that premiums are primarily based on two factors: your age and your health. In fact, for many young people, a physical won’t even be required. You’ll simply have to answer a few medical questions and can get coverage. Because young parents are typically healthy and they are young, their coverage can be much lower than they might think. The best option is to visit http://www.lifeinsurancecompaniesbystate.com/ and learn more about the options available to you in your state. Getting a quote is easy and then you’ll know exactly what to expect.

Is life insurance for everyone? Essentially, yes. Everyone will pass on at some point and most of us have family who rely on us in some way. Even if they’re the sole bread-winner, there are many things each person does in a relationship. If the worst happens to a stay at home mom, there is a ton of income lost by the father – even if it wasn’t translating to dollars when she was working. The father now has to find a caregiver for the child, as well as someone to handle the multitude of chores and household things the mother takes care of.


Jul 20

three reasons to refinanceThere are three main reasons that people choose to refinance their home mortgage. The most common is that they want a lower interest rate. This is happening very frequently these days, as interest rates are at historic lows. Even those who bought a home just 5 years ago may see interest rates that are significantly lower than the one they have on their current loan. Additionally, many people who buy a home and make their payments on time each month see their credit rating go up – which means they may be eligible for better terms in a Los Angeles refinance.

Another popular reason people refinance is to shorten the length of their loan. Many people buy a home that’s at the top of their budget when they purchase it, but as the years go by they get raises or move into different careers and their income goes up. They are then motivated to pay their home off sooner rather than later. On the flip side, people who are in shaky financial situations may choose to refinance to a longer loan, which can lower their monthly payments each month. Of course the problem is that they end up paying much more interest over the course of their loan.


Jul 19

Many people are surprised to learn that their home owners insurance doesn’t cover the things they thought it did. For example, some policies won’t cover large appliances if there’s a power outage. If that’s the case with yours, and you have hundreds of dollars of meat in your freezer when a disaster strikes, then it may not be covered. The good news is that there is a type of coverage specifically for this issue. In most cases it costs just $20 per year. Those who typically stock up and have a large quantity of food at any given time can benefit from this additional coverage.

Damage by rodents is another example of an issue that home owners insurance Chicago may not cover. Keep in mind that even a squirrel is considered a rodent, and they can certainly do plenty of damage. Once again, you may be able to get additional coverage so you won’t be out of luck if damage does occur. If your home is not up to code then your homeowners insurance may cover the cost of getting it up to code – but only 10% of it. These are just a few examples of coverage that you may not be aware you don’t have. Look closely at your policy to see what covered and what isn’t.