0% Credit Cards

Written by Neil Brown


These days, credit cards inrepparttar UK are competing with each other on two very attractive offers with a headline rate of 0%. These 0% credit cards will be either balance transfers; introductory purchases offers or a combination ofrepparttar 143985 two. This article looks at how to getrepparttar 143986 best out these types of card andrepparttar 143987 things to thatrepparttar 143988 credit card companies want you to do and thereforerepparttar 143989 things to avoid. There is a school of thought that believes that these types of card will soon be a thing ofrepparttar 143990 past as they costrepparttar 143991 credit card companies too much profit, as consumers get wiser torepparttar 143992 pitfalls.

A balance transfer credit card is basically an offer of either a zero interest rate or very low interest rate for a set period. The typical period is 6 months although there are variations on this and there have even been some low rates set forrepparttar 143993 lifetime ofrepparttar 143994 balance. However, these are becoming rare. Once,repparttar 143995 offer period expires thenrepparttar 143996 outstanding balance reverts torepparttar 143997 standard rate on purchases. This is very important, as at this pointrepparttar 143998 credit card company will hoperepparttar 143999 consumer will not take any action and sorepparttar 144000 company can begin to earn money onrepparttar 144001 balance.

A 0% purchase offer credit card has many similarities torepparttar 144002 balance transfer offers. The introductory rate and period are usually 0% and 6 months inrepparttar 144003 same way asrepparttar 144004 balance transfer. Also, oncerepparttar 144005 period expiresrepparttar 144006 outstanding balance is subject torepparttar 144007 standard rate on purchases. It is an important point to note thatrepparttar 144008 introductory rate does not apply indefinitely on purchases made inrepparttar 144009 period, but only applies forrepparttar 144010 duration ofrepparttar 144011 introductory period.

Advantages and Disadvantages Of A Reverse Mortgage

Written by Paul Jesse


Advantages and Disadvantages Of A Reverse Mortgage

Betty and John, are in their mid-seventies and are currently weighingrepparttar advantages and disadvantages of a reverse mortgage as a way of freeing up some cash. The couple purchased their home 45 years ago for about $14,000 since then home values have skyrocketed and recent single family homes in their neighborhood have been selling for a minimum of $160,000.

Like Betty and John, if you’re considering a reverse mortgage it’s important to do some research prior to making a decision. You not only need to understandrepparttar 143984 basic principles of this kind of mortgage but you also need to look at allrepparttar 143985 advantages and disadvantages of a reverse mortgage.

Essentially a reverse mortgage is a loan that permits homeowners 62 years of age and older to borrow againstrepparttar 143986 equity in their homes without having to sell it. Further, you don’t have to give uprepparttar 143987 title or take on a new monthly mortgage payment.

A reverse mortgage loan is tax-free and needs only to be repaid whenrepparttar 143988 borrower (or inrepparttar 143989 case of Betty and John, whenrepparttar 143990 surviving spouse) dies or sellsrepparttar 143991 home. At which time,repparttar 143992 reverse mortgage loan must be repaid in full, including all interest and other charges.

When examiningrepparttar 143993 advantages and disadvantages of a reverse mortgage it’s also important to consider bothrepparttar 143994 process andrepparttar 143995 related costs of obtaining a reverse mortgage. Unlike a conventional mortgage, with a reverse mortgage,repparttar 143996 homeowner (the potential borrower) must meet with a reverse mortgage counselor. References for counselors can be obtained from banks offering reverse mortgages orrepparttar 143997 U.S. Department of Housing and Urban Development (HUD).

The purpose of these meetings which may take place in person or onrepparttar 143998 telephone is forrepparttar 143999 homeowner to learn about reverse mortgages and discuss alternative options. It also helps you decide which kind of reverse mortgage may be best. As well as exploringrepparttar 144000 advantages and disadvantages of a reverse mortgage, it’s wise thatrepparttar 144001 potential borrower, also compare costs between various lenders and request a Total Annual Loan Cost estimate for each.

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