7. Write it down, and then find another way to express problem. Write down all solutions and ideas that come to mind. Later you can pick diamonds out of dirt.

8. Try "random presentation." This is a fun one. Randomly pick an object and ask what it might teach you about your problem. A speed limit sign might suggest that you're growing your company too fast, for example. Don't be too dismissive of all silly ideas this technique creates, as they'll sometimes trigger more useful ideas. This is also great for putting driving time to good use.

9. Look at what others have done. Problems aren't usually unique in every aspect. What have others done in similar situations?

10. Look at ways to cause problem. Too much stress? Find ways to cause more stress. Over-promise, sleep poorly, be constantly interrupted, leave many decisions unmade, and so on. Each way to cause stress can suggest solutions: Fewer promises, sleep more, don't allow interruptions, make decisions now, etc.

The Key To Solving Problems

Some of these problem solving techniques will work for you. The key is to get in habit of using them. Do they require a little work? Sure, but isn't work better than worry?

Credit Scores Stated Income and No Doc loans require less documentation from lender. Therefore, credit scores must be high in order to obtain one. Basically, a high credit score is a lender’s guarantee that loan will be repaid. If credit scores are not high, borrower may still obtain a loan, with a down payment and/or pay a higher interest rate.

Interest Rates One general rule of thumb for Stated Income loans is less documentation you provide, higher interest rate. Basically, more income and assets a buyer can prove, better. Acceptable documentation for some lenders includes checking and savings account statements, retirement funds, stocks, bonds, and mutual funds. In some cases lenders will even accept deposits to accounts over last 12-24 months and average them out as evidence of monthly income. In latter case, this is a fully documented loan and an applicant may obtain a better interest rate.

Down Payment on Stated Income and No Doc Loans Keep in mind lender is trying to minimize risk with these loans, so a higher down payment of say 5-10% is often essential for a lower interest rate. If you have a solid credit history, you can still obtain a loan without a down payment, borrower merely pays a higher interest rate then lowest going rate.

My company, Breakwater Mortgage in Virginia Beach (http://www.breakwatermortgage.com), offers Stated Income and No Doc loan products. Many banks, and some mortgage companies do not. If you are type of individual who needs these mortgage products, ask your prospective lender if they handle these loans. If not, call me at 1-877-45 BREAK and I will be happy to assist you. Currently Breakwater Mortgage writes mortgages in Virginia and North Carolina.

Stated Income and No Doc loans are perfect loan programs for small business owners, self-employed persons, or any other individuals who cannot prove in writing all of income or assets necessary to purchase home of their dreams.