Home loans: what you should know !

Written by Paul Heath

Finding home loans can be a daunting task, whether youíre a first time home buyer or an existing homeowner. The good news is that there are more options than ever to help you findrepparttar loan thatís right for you. Check Your Credit Report An important first step is to check your credit report, preferably several months before you intend to apply for a loan. You are entitled to one free copy of your report every 12 months so itís easy to check it out. When you receive your report there are a few things that should garner your attention. First, check to see thatrepparttar 149231 information it contains is accurate. Does it incorrectly show late or missing payments? Does it show credit cards or other credit accounts that are incorrect? If you see anything that is not right then consult withrepparttar 149232 credit reporting agency regarding their procedures for making corrections.

If My Credit Is Bad Can I Qualify For A Mortgage? Usuallyrepparttar 149233 answer is yes, butrepparttar 149234 loan process will likely be more involved andrepparttar 149235 interest rate youíll pay will be higher than if you have good credit. Look for lenders that specialize in loans for people with poor credit and learn more aboutrepparttar 149236 programs they offer. Even though a mortgage will cost you more if you have bad credit, inrepparttar 149237 long run it can help you repair your credit history if you make your payments faithfully.

What Kind Of Loans Are Available? Three basic types of loans are available to help you buy a home Ė fixed rate, adjustable rate and interest-only. A fixed rate loan comes with an interest rate that staysrepparttar 149238 same throughoutrepparttar 149239 loan term, but an adjustable rate mortgage (ARM) comes with an interest rate that may move up and down at various intervals. Your payments will usually be lower with an ARM (at least atrepparttar 149240 start ofrepparttar 149241 loan) but overrepparttar 149242 life ofrepparttar 149243 loan you runrepparttar 149244 risk of your payments going up if interest rates rise.

10 Signs You May Need Credit Counseling

Written by Jeremy Zongker

Debt management programs can be of real help for people that discover they cannot face their debts. At first, they will attempt to solverepparttar situation all by themselves by cutting down on spending and keeping a close eye on accounts. If this doesnít work then it is time to ask for help from a financial expert. The sooner you admit you need help from an expert,repparttar 149171 better will be for your future. The best time to seekrepparttar 149172 advice of an expert is beforerepparttar 149173 appearance of most ofrepparttar 149174 important 10 signs you may need credit counseling. You should already be worried when one or two signs appear. Of course that there are not only 10 signs you may need credit counseling but, these 10, arerepparttar 149175 most important. When you see more than a few of 10 signs atrepparttar 149176 same time, know thatrepparttar 149177 situation is bad and getting into a debt management program could berepparttar 149178 right solution for you.

There are not a fixed number of signs that can tell you your debts are slowly killing your financial life, but inrepparttar 149179 following lines we will try to presentrepparttar 149180 most important 10 signs you may need credit counseling. The most important sign is loosing your job orrepparttar 149181 possibility to loose it. The first thing you think of when you loose a job is how you will pay all your bills. In such a situation it is best not to loose your cool. You may think you just need to start looking for a new job andrepparttar 149182 bad situation will be solved. In case your next job does not come inrepparttar 149183 near future,repparttar 149184 best thing for your financial situation would be to askrepparttar 149185 advice of a credit counselor; even forrepparttar 149186 most desperate situations he will certainly have a solution. You should also be worried when your credit card balances are increasing while your monthly income is decreasing. This would mean that, in short time, youíll not be able to pay your monthly minimum payments. This is another sign that you need credit counseling; if payingrepparttar 149187 minimum amounts required on your accounts is a situation that lasts a short period of time, and thenrepparttar 149188 problem is not that bad. But ifrepparttar 149189 situation repeats itself over and over again, this is a sure sign you may need credit counseling.

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