Your Mortgage Rate Compare and SaveWritten by Dale Ronewicz
When trying to obtain best mortgage rate compare offers from several lenders or brokers. Know how much of a down payment you can afford, and find out all costs involved in loan. Knowing just amount of monthly payment or interest rate is not enough. Besides your mortgage rate compare information about loan amount, loan term, and type of loan from varies lenders and brokers. The following information is important to get from each lender and broker: Mortgage RateCompare each lender and broker and ask for a list of current mortgage interest rates and whether rates being quoted are lowest for that day or week Ask whether rate is fixed or adjustable. Keep in mind that when interest rates for adjustable-rate loans go up, generally so does monthly payment. If rate quoted is for an adjustable-rate loan, ask how your rate and loan payment will vary, including whether your loan payment will be reduced when rates go down. Ask about loan’s annual percentage rate (APR). The APR takes into account not only interest rate but also points, broker fees, and certain other credit charges that you may be required to pay, expressed as a yearly rate. Points Aside from your mortgage rate compare Points. Points are fees paid to lender or broker for loan and are often linked to interest rate; usually more points you pay, lower rate.
| | What is BankruptcyWritten by John Mussi
Here is a useful guide to bankruptcy. It should be noted that bankruptcy is not to be entered into without first having sought professional advice.Bankruptcy is seen as last resort. Bankruptcy is perceived to be only way to escape ever-constant demands for payment by bill collectors and credit companies alike. Bankruptcy is not something that should be rushed in to. Certainly there are times when it can be very useful, but there are other times when declaring bankruptcy would be a big mistake. The purpose of bankruptcy is to convert your possessions, and any wages you receive, into lump sum and instalment payments for creditors. A debtors purpose to apply for their own bankruptcy is to form a moratorium (a group of creditors) to agree part repayment of all outstanding debts, and when agreed repayment has been met, to have a ‘clean slate'. The constraints which are put upon you once you are declared bankrupt make it only a viable option in most extreme of cases. It is more likely that an Individual Voluntary Arrangement will be answer to severe debt problems, since it provides much of relief offered by bankruptcy but without severe constraints which bankruptcy imposes. Individual creditors cannot take action against you. They must make a claim through ‘trustee' (the name of person who controls a bankruptcy) or write off their debt. When appointed trustee will advertise your demise in a number of newspapers to give all of your creditors a chance to make a claim against bankruptcy.
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