Category Archives: Finance

4 Tips on Protecting Your Assets

someone counting their moneyYour assets are one of the best ways to assess whether your own wealth is growing. However, due to several issues, people should be more vigilant.’

They should do everything they can, so they will not lose their assets. These four tips can help you make sure that you will not lose your assets and their value due to any circumstance:

1. Get the right auto insurance.

Auto insurance helps you make sure that there will be a less financial burden for you if something happens to your car. The auto insurance company can provide a counterpart should you get into an accident or any other incidents.

Contact a provider in Harvey that offers auto insurance so that you will put a strong level of protection for your car.

2. Utilize proper contracts and procedures.

If you are engaged in a business or investments, you need to make sure that you have proper procedures and contracts. You should always have an attorney with you when you are signing these documents. Keep copies as well, if possible. This will help you avoid any potential issues in the future.

3. Install a security system at home.

Your home is one of the biggest investments someone could ever acquire. One way to protect your family and your possessions at home is through a security system. There should be a security camera and a video recording component in this system.

4. Look into homestead exception.

People mainly know the homestead exception as a protection for a personal residence. It protects a portion of your home’s value should you get bankrupt. There are only a few states that have this option.

You might need to ask a lawyer with a background in the real estate to look into the possibility of having you covered under this exception.

As someone gets richer, their assets become bigger. They need to make sure that these assets are protected. The items above can help achieve this.

4 Effective Tactical Methods for Making Punctual Loan Payments

Mortgage and Loan Keys on KeyboardTaking out credit during emergencies is quite common and justifiable. However, whatever kind of loan you have, paying it on time or even in advance can give you a number of benefits — besides peace of mind, of course. In connection with that, consider committing to the following suggestions so you can always punctually pay your loans.

Consider More Convenient Payment Methods

Nowadays, as Wasatch Peaks Credit Union noted, many VA loan lenders in Ogden are more open to ideas and options that make payments for their clients faster and easier. Talk to your loan company of choice and find the most convenient payment schemes for you, such as balance transfer, mobile or online methods, etc.

Generate Funds from Other Sources

Sometimes, relying solely on your pension or salary to pay off debts just won’t cut it. Consider making money from other side jobs or selling stuff that you no longer use. Adding to your income can give you a better chance of paying your loans on time.

Utilize Your Work Bonuses

There are certain times in a year (like the holidays) when you receive additional amounts and bonuses from your company or government allowances. Make the most of these extras and use some of the money to cover your debt. What if you miss out on splurging on extras? Eventually, your peace of mind will give you more benefits in the long run.

Always Keep in Touch

If worse comes to worst, never neglect to establish regular communication with your lender. Keeping them informed of your payment status and issues are one way to ensure that no complications will ensue when delays do happen or when you’re unable to make your payments.

Paying your loans on time can be quite a challenge, especially if you’re on a tight budget. However, it’s certainly doable and will serve you well in the end. Not only do you keep a great credit score, which makes you eligible to make other key loans in the future, but you can also relieve yourself of financial responsibility and the stress connected to it.

Facts about Section 8 Property Investment that You Should Know

Dollhouse on top of a pile of moneySome families find it difficult to look for a suitable place to live because of their financial situation. That’s why many often consider enrolling in a program known as Section 8 to help them find a house to rent.

For the part of homeowners, on the other hand, getting a Section 8 real estate investment is also a great option. Experts from Americas Housing Alliance, LLC explain it allows them to lease their properties to eligible families after they receive a certified voucher that covers at least 70% of the monthly rent including the utility bills. But what exactly does it entail? Here are its top benefits to homeowners:

Stable and Guaranteed Source of Income

One of the biggest benefits of Section 8 is that you’ll have guaranteed monthly rent payments coming directly from the government. You’ll start receiving monthly payments from the government once you have a Section 8 tenant. It commonly comes in after a delay of at least 30 to 60 days for processing.

Lower Vacancy Rate

Another factor why many landlords consider Section 8 investments is because of lower vacancies. Several Section 8 tenants tend to stay put for several years and are even more than happy to renew their lease repeatedly.

A Large Pool of Possible Tenants

Section 8 also gives you access to a large pool of prospective tenants due to government subsidizing monthly rent payments. This is helpful, especially in areas where there’s only a small pool of private pay tenants.

These are just a few of the benefits that Section 8 can offer to potential investors. It’s always best to conduct thorough research when it comes to investments so you’ll know what you’re getting yourself into. Also, make sure to work with a reliable real estate investment company.

3 Mortgage Mistakes You Can’t Afford To Make

Mortgage loan agreement with house key chain and key on topA home is not something you buy every day, and it is one of the most expensive purchases you will ever make. That is why you should play it smart when purchasing your home. Before diving into the world of housing financing, you ought to do some research so that you do not fall for these house loan mistakes.

1. Assuming your credit score

An excellent credit rating ensures that you qualify for attractive rates. It proves to the lender that you can afford to repay your Salt Lake City home’s mortgage. Having poor credit might not only cause your loan to be denied, but it might also mean paying high interest rates. When you want to get a house loan, start working on your credit rating to ensure that it is in good standing by the time you start shopping for the loan.

2. Making yourself house-poor

If you commit a large part of your monthly income to house-related expenses, you might be left with too little or no money for other expenses. Make sure that your mortgage payments are less than 28% of your pretax earnings. Spending more than you can afford is be the biggest mistake a homeowner can make.

3. Being unrealistic about your financial capacity

It’s easy to pay more attention to the interest rate instead of the loan type. A 15-year fixed mortgage can have a lower interest rate than a 30-year fixed mortgage, but can you afford the premiums for the 15-year loan? The same applies to a short-term adjustable loan. Although the interest is initially low, the rates might fluctuate significantly. Never go for an option that will over strain your finances.

Purchasing a house for the first time can be daunting, especially when it involves you getting a house loan. Make sure you avoid these mistakes and find help if you are stuck.

Moving Homes: It Doesn’t Have to be Too Pricey

couple on the laptop computing for their moving expensesA number of homeowners who move to a new place worry about the money. Some moving companies charge hefty prices, which results in this valid concern. This, fortunately, doesn’t have to be your case. With a little planning, you can streamline the process and lower the costs.
The first thing you should do when planning to move residences is to get moving quotes from different service providers. Moving doesn’t have to cost you an arm and a leg.

Keeping the costs low is crucial because there are other additional expenses. Besides, who doesn’t a chance to get things done while saving some money? Here are some ways to keep the moving fees budget-friendly:

Leave the Things You Don’t Need

Not all of your belongings have to join you in your new home. That’s a reality that you must reconcile with when making a move. Embarking on a thorough clean up can help you declutter the home and spare you some extra cash.

Go through your belongings weeks before the big move. For the best results, don’t do it all in one day. Instead, spread it over several weekends prior to the moving date. That way, you can avoid making the decluttering process a chore. You also get to make logical decisions at all times.

Pack Your Own Boxes

Moving companies are eager to help you with every aspect of the move. They can pack up your entire house and unpack in the new location – as long as you pay them for their efforts. In the interest of keeping the costs on the down low, you must meet them halfway.

Reducing the number of tasks movers will handle cuts down the charges. You can source your own packing supplies on the cheap and spread the packing process overtime to make it a breeze.

Moving houses shouldn’t cost you a small fortune. With little effort and planning, you can make the process painless while keeping the costs low.

ACA Helps Many People Gain Access to Quality Healthcare

old lady with quality healthcareThe Affordable Care Act was passed to bring cheaper healthcare and insurance to poor families. As this has opened doors to care for marginalized people, clinics have become full to overflowing. While this is affecting the workload of many doctors, hospitals are taking the necessary actions to keep their staff from being overworked.

The Affordable Care Act assistance or ACA was intended to provide access to medical care for the unemployed and low wage earners who would have otherwise been prevented from seeking care through high insurance premiums. The act has worked as intended for most people, leading to a surge of patients coming through hospital doors. Many patients have been given the treatment they need to feel better.

The only problem is that hospitals are getting crowded and there are risks of a shortage of physicians, not to mention the amount of paperwork they need to deal with. But healthcare facilities are doing what it takes to avoid being understaffed, so they can keep providing quality service to patients.

Customized Solutions for Hospitals

Revenue cycle management services can reduce paperwork and give the doctors more time to spend with their patients. The computerized system follows patients through, from their initial inquiry to the completed payment of their bill.

Services to assist doctors and patients include help to access the insurance marketplace, help with ACA application, charity applications, emergency Medicaid, and computerized self-pay options to allow patients to pay deductibles online or in an instalment basis. This reduces the time spent chasing up payments, increases the likelihood of reimbursement, and lets the doctors concentrate on their patients.

Excessive paperwork and insurance problems can affect the patients’ safety, particularly with the increasing number of patients visiting their doctors. Revenue cycle management and charity applications can ease this burden.

Avoid These Mistakes When Buying Your Dream Home Through Mortgage

Couple discussing with real estate agentWhile owning a house ranks high on the to-do list of many people, realizing this dream can prove to be tricky. In fact, more than 38 million American households struggle to pay off their mortgage.

Most of these families took on a home loan that was way above their financial capabilities, and now they’re suffering the consequences. To avoid falling into this category, Primary Residential Mortgage, Inc. and other reputable mortgage companies in Oregon noted that you need to take a few proactive measures. Here are some of them:

Don’t get too much house

It’s common for first-time homebuyers to fall in love with a house that’s beyond their price range. Don’t make this mistake, though, as it will leave you vulnerable to foreclosure. For starters, you have to sign up for a bigger loan that you can afford, which gives rise to a series of misfortunes. These could be monthly repayments greater than the recommended 30% or stretching the loan for many years, or both. A long repayment period might seem like a good deal until you factor in the accrued interest.

Don’t settle for an expensive loan

Surprisingly, you have a say about the cost of your home loan. Well, not directly, but your creditworthiness determines the interest rate. Raising a 20% deposit, having a credit score above 700, and a credit utilization ratio of below 30% can make you get friendly rates. The same case applies if you don’t let any of your bills go to collections.

In addition to the accruing interest, unpaid bills lower your credit score and ruin your financial history. Lenders dig into your financial background to determine how much of a risk you pose to them. If you come off as a risky client, they peg you to a higher interest rate bracket.

Failing to prepare adequately when buying a house throws your finances into shambles and could lead you to lose your house. However, with the right preparation, you can ensure a smooth home owning process and avoid foreclosure.

Why You Should File For Chapter 7 Bankruptcy

debt text on calculator and magnifierIf you are going through a difficult time and you have overflowing debt and other unpaid fees, you might be considering filing for bankruptcy. Chapter 7 is the most preferred option for many.

Chapter 7 bankruptcy attorney in Salt Lake City can help you understand the situation and the actions you can take.

Causes of Bankruptcy

Are you currently on a job hunt, going through a tough divorce, or looking at a long list of medical expenses? These problems can make you qualify for Chapter 7 bankruptcy. On the other hand, businesses that wish to file for bankruptcy must choose a different type, such as Chapter 11.

Filing For Chapter 7: What to Expect

The time it takes to complete filing process is three months to half a year, which is considerately a short amount of time. Once you decide to file, you will be on “automatic stay”, which stops people from collecting money for your debts. However, there are two types of debt that you will have to sort out with your lawyer. These are dischargeable and non-dischargeable debts.

Dischargeable debts include credit and medical bills, which can be removed and lift the weight of some debt off your shoulders. Non-dischargeable debts include child support, student loans, etc. These debts may not be lifted, but if most of your debts were from dischargeable debts that were lifted, you may be able to pay off your non-dischargeable debt. Chapter 7 is a good option for those who have a low salary with little assets available.

If you find that your dues are now too much for you to handle, getting help from an experienced attorney is a wise move. A lawyer can guide you through the difficult times and provide the information and legal help you need.

Jump-starting your Small Business through Consumer Financing

CashProviding an in-house financing plan to your consumers can greatly improve your sales. It can also build a continuous, repeat clientele. Startups that provide customer financing often experience increased sales by a huge percentage. This is based on the fact that most customers make additional purchases in the establishments where they receive customer financing.

Explained below is an efficient way of introducing a consumer financing strategy.

Introduce a Monthly Payment Plan

The overall price of an item significantly impacts on the decision to buy. Having a favorable payment plan can turn simple browsing or window shopping into multiple sales. Every person has a monthly budget. Providing a payment method that corresponds to it will allow customers to understand how the cost of an item will affect their budget. You need to ensure that the minimum monthly payment amount is well displayed so that your buyers can see how affordable your products or services are. Also, find ways to notify your customers of this newly found plan.

Create a Marketing Program

Effective financing incentives such as no interest or no payment for the first six months have in the past proven to boost sales. You may also include other packaging ideas in your financing program. Your consumers are likely to develop an interest in a larger ticket or upgrade if the promotion is based on a minimum purchasing price. You may also include promotions on special days like holidays or Valentine’s Day.

Simplify the Sign-up Procedure

Vyze shares that potential customers and sales associates can be put off by lengthy and cumbersome application procedures about consumer financing solutions. Although every financial agreement has to include essential customer details, you need to ensure that the process is simple and takes minimal time while being effective. You also need to introduce an online application platform. Some people would rather apply anonymously than have a salesperson find out if they are qualified for a loan or not.

Flexible monthly payment methods can attract customers to your business. It is also a great way of encouraging your customers to purchase larger and more expensive items. After implementing an effective consumer financing program, you may sit back and watch as your start-up transform into a big establishment.

Top Tips to Save Money When Buying a New House

Pile of coins, a piggy bank and a miniature houseBuying your dream house does not have to ruin you financially. While homes seldom come cheap, there are many ways you can save money during the buying process. Try one of these simple ones.

Look for the best mortgage rates

Most homebuyers use a mortgage to finance their homes. If you intend to do the same, you will need to be smart when looking for a mortgage lender in Portland such as Primary Residential Mortgage, Inc.

Different lenders provide different terms and rates for mortgages. Visit a number of banks first and compare their offers. Then go for the lowest prices you can find, provided there are no hidden charges.

Be cautious as you make decisions

Once you get approval for a mortgage, it is likely like you will want to start the house hunting process immediately. This is an exciting period, but you need to check your emotions as you decide on which house to buy.

Before committing to buy a house, compare alternatives. Then take a few days to make up your mind which option suits you best.

Bargain the price

You bargain while buying clothes, shoes, electronics, and other stuff, so why not do it as you buy a home? Most sellers would be willing to lower the price, provided the buyer requested for a discount. Take advantage of this and get to save some money.

Bring someone along

There are many little defects you may not notice once you fall in love with a house. Therefore, it is prudent to let a friend or spouse tag along as you view the home. Your companion can spot some of the faults that the house may have and advise you accordingly.

If you decide to take the house anyway, those little faults could help you as you bargain for a lower price.

The home buying process can seem complex, particularly if you are doing it for the first time. By making a few smart choices, however, you can get the house you are looking for and still save much-needed dollars in the process.