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3 Tips For Maintaining A Good Relationship With Your Bail Bondsman

Posted by on Oct 25th, 2016 in Uncategorized | Comments Off on 3 Tips For Maintaining A Good Relationship With Your Bail Bondsman

Getting arrested and going to jail is never a good thing. However, the situation can be made a lot better with the help of a bail bondsman, who may be able to help you get out on jail when you wouldn’t be able to otherwise. When you’re out on bail, you probably want to do what you can to maintain a good relationship with your bondsman, both so that you can avoid becoming a fugitive and so that you will be able to call the same bondsman later on if you need him or her to get you out of jail. These are a few tips that can help.

1. Notify Your Bail Bondsman of Any Changes

Your bail bondsman will want all of your most up-to-date information, such as the address for where you are living or temporarily staying and the name of your employer. If any of these things change after you get out of jail, such as if you move, quit your job or get a new job, your bondsman will probably want to know about it. In general, you should be able to give an update by simply making a phone call and providing the information.

2. Check In When Asked

Depending on a few things, such as your charge or how much your bond was, your bondsman might want you to check in with the office periodically. You may be able to call in, or you might be asked to show up at the office. Do not ignore these appointments; they should be quick and are generally simply done to make sure that you have not forgotten about your court date.

3. Show Up for Your Court Dates

The single most important thing to remember when out on bond is not to skip your court dates. If you do, your bondsman could lose the money that he or she put up for you when you got out of jail, and you could be considered a fugitive. You may have to pay the money back to the bondsman, and you could find yourself facing new charges and new legal challenges. If you miss a court date by accident, don’t try to “run” or ignore the situation. Instead, consider working with an attorney to remedy the situation as quickly as possible.

As you can see, there are a few things that you’ll want to do to maintain a good relationship with your bail bondsman. If you do these things, you shouldn’t have any problems. For more information, talk to a professional like All Night & Day Bailbonds.

Ready To Apply For Your First Mortgage? What You Want To Know First

Posted by on Oct 6th, 2016 in Uncategorized | Comments Off on Ready To Apply For Your First Mortgage? What You Want To Know First

If the time has come in your life that you’re ready to purchase your first home but you don’t know a lot about obtaining a mortgage, there are some basics you’ll want to know. Shopping around to find the lowest interest rate with your credit score and getting an FHA loan if you are a first time buyer with little money to put down is important, but there are other details you have to look into. Know the following when you go to take out a home loan.

Know Your Broker Fees

Are you using a broker to get the mortgage? If so, make sure you understand the fees. Some mortgage brokers will charge you a certain percentage of the mortgage to help you find a lender, and other brokers will charge the mortgage company. Make sure you aren’t paying out of pocket for the broker’s fees.

Know What to Include in the Payment

There are some things you want included in your monthly mortgage payment to be sure you don’t fall behind or get in a financial bind trying to pay them later on. They include the following:

  • Monthly insurance cost
  • Annual property tax fees
  • HOA fees

When these things are included in your payment, you don’t have to worry about having insurance coverage because you forgot a payment or trying to pay a large amount of property taxes at the end of the fiscal year.

Choose the Best Terms

Different mortgage brokers will have different terms on their loans. Look for a loan provider that offers the following:

  • Competitive fixed interest rates
  • 15 year loan options
  • Automatic payments
  • Bi-monthly payment options

If you think that making payments twice a month would be easier than one large payment and you can afford to make those payments, this can shorten your mortgage.

If you are a first time home buyer and you have never applied for a home loan, make sure your debt to income ratio is low, your credit score is good or great, and that you have enough money to put down on the loan and to close on the property. You can sit down with a mortgage company before you apply for a loan to go over your current financial status, and to see what you could afford to pay them each month for your mortgage. Work out the details to become a responsible homeowners with a mortgage you can afford. 

Factors That Can Make An Adjustable-Rate Mortgage (ARM) The Right Choice For You

Posted by on Sep 7th, 2016 in Uncategorized | Comments Off on Factors That Can Make An Adjustable-Rate Mortgage (ARM) The Right Choice For You

An adjustable-rate mortgage (ARM) – a mortgage loan on which the interest rate you pay varies – may be your ticket to buying a home. While the interest rate you pay may be lower in the beginning than the interest you would pay with a fixed-rate mortgage for the same amount, there are factors to consider when determining whether an ARM is the most practical home loan choice for you.

Benefits

With an adjustable-rate mortgage and the lower rate of interest it brings in the early years of the loan, your monthly payments may be lower than with a conventional fixed-rate loan. Even after the interest rate rises, you can save thousands of dollars in interest during the years that you pay a lower rate of interest. You will also build equity in the home faster, which can play to your advantage if you sell the home or refinance to a fixed-rate mortgage before the rate adjusts.

Going with an adjustable-rate mortgage can be a step toward upgrading to a bigger, more expensive home later on. The lower payments may help qualify you for a larger loan when you go to buy a new house.

A Move In the Not-to-Distant Future

If you don’t plan on staying in the home for long, an adjustable rate mortgage can offer you lower mortgage payments during the time you spend living there. Adjustable-rate mortgages that schedule frequent rate adjustments usually offer an even lower initial rate – a factor that can lower the payment more. The lower payments may be easier on your budget and worth the risk of rate increases, especially if you know that a job transfer is imminent after only a year or two.

A Rate Cap You Can Afford

An adjustable-rate mortgage offers you a lower interest rate for a predetermined period – generally three, five, seven, or 10 years – after which time the interest rate may increase by a certain amount based on the current market conditions. If market indexes go up, so will your mortgage payment. Depending on the terms of your loan, if the market index amount goes down, your monthly mortgage payment may decrease.

When you take out an adjustable-rate mortgage, the lender or mortgage company sets a cap – the limit on how much the interest rate can increase over the life of the loan – which is specified in your loan contract. Your loan contract should also stipulate by how much the interest rate can increase the first time the rate adjusts as well as how much it can increase during the rate adjustment periods that follow.

Once you reach the highest interest rate allowed, the rate will no longer adjust. By knowing the cap on the loan prior to signing the loan documents, you can determine whether your income will be enough to pay the loan payments at the highest the interest rate can go.

For more about this topic, contact mortgage company in your area.

3 Things To Consider When Choosing An Online Bank

Posted by on Aug 11th, 2016 in Uncategorized | Comments Off on 3 Things To Consider When Choosing An Online Bank

Interested in opening an account with an online bank? Here are three things to consider when comparing your options:

Money Transfer Fees

An important aspect to consider when choosing between online banks is whether or not you’ll be charged for transferring money to and from different accounts and, if so, how much the charge will be. Almost all online banks have different rates for transferring monies, so download them all and compare them side-by-side. Pay attention to fees for things like direct deposits, bank drafts, wire transfers, and money order deposits that can really add up at the end of the year if you use any of the services often.

Paper Documentation

Most online banks offer perks for going paperless, which is typically convenient unless you need to submit bank documentation when applying for a loan, filing taxes, or for another official reason. While some banks don’t offer paper documentation at all, many will send you paperwork once a month or periodically upon request, even if for a small fee.

Because of this, it’s a good idea to find out what policies are in place for each potential online bank you consider working with before opening an account. Make a list of potential online banks that are willing to send you reports and paperwork at least once a year and upon request, and then document any corresponding fees so you can compare your options on paper.

Account Changes

You may have to make account adjustments as time goes on and your needs change, and not all banks will allow you to do that without having to pay a fee. You might even find that some banks don’t offer anything more than basic checking or savings accounts. The online bank you decide to work with should give you the ability to do things such as upgrade to business accounts, turn a checking account into a savings account, and add additional accounts to those that are already active. Ask each online bank you consider opening an account with to provide you with an extensive list of their service offerings and any fees that are associated with them so you can gauge how well each service is likely to meet your future needs as your business expands or your home life changes.

By making these considerations when comparing online banking services, you should be able to narrow your options down to one or two that meet your needs now and can expand to fulfill your future demands.

Commercial Mortgage Brokers 101: 3 Good Reasons to Use a Professional

Posted by on Jul 13th, 2016 in Uncategorized | Comments Off on Commercial Mortgage Brokers 101: 3 Good Reasons to Use a Professional

If you are thinking about purchasing a piece of commercial property, you might want to consider using a commercial mortgage broker. These professionals offer valuable advice as well as many other benefits. Some benefits of using a commercial mortgage broker include these three.

1. Compare Rates

There are many different lenders available to loan you money to cover the cost of your commercial property. Unfortunately, not all lenders are the same. One of the key differences is interest rates. If you don’t know much about interest rates, a professional mortgage broker can help you. These professionals can look over all the lenders available as well as their rates. A broker can then tell you which lenders are offering the best deals.

In addition, mortgage brokers often have exclusive relationships with lenders. This might not sound like a big deal, but it can give you access to lenders that you might not have thought to apply with previously or that you didn’t even know existed. By having access to more lenders, you ultimately get a better deal. You also have a higher likelihood of being approved, especially if you have less-than-stellar credit.

2. Process Paperwork

Another way a commercial mortgage broker can help is by processing all of the paperwork for you. There is a lot of paperwork when it comes to buying property, especially if you need to process multiple loan applications. Fortunately, you can save time and frustration by having a mortgage broker do this for you. Just give your information to the broker, and they will submit it to all the lending companies you desire. This might be a simple benefit, but it can save you from hours of frustrating paperwork.

3. Potential Money Savings

Finally, a mortgage broker can potentially help you save a lot of money. Since these professionals already have relationships with lenders, they might be able to score you a good deal. From discounts to special offers, a broker can help you save a lot of money when it comes to your loan. They can also help you save money with application fees, origination fees, and any other additional fees that you might encounter.

As you can see, there are many benefits to working with a commercial mortgage broker. Not only do these professionals help you save time, they can also help you save money. If you are interested in learning more, contact a local mortgage broker such as Riverside Park Capital for more information or to get the process started.

3 Things To Consider Before Getting A Mortgage After A Short Sale

Posted by on Jun 14th, 2016 in Uncategorized | Comments Off on 3 Things To Consider Before Getting A Mortgage After A Short Sale

If you are facing a short sale, you may feel like you will have a difficult time getting a mortgage in the future. Although it is not the easiest thing to do, you can get approved for a mortgage after selling a home in a short sale. There are a variety of things to be prepared for when you are ready to move forward, including the following:

There is a Waiting Period

One thing you will need to be prepared for is a waiting period. The amount of time will vary on the type of loan you are applying for, whether or not you were in default on your home before the short sale, and your credit score. Depending on all of these factors, you may have to wait two to seven years until you can get another mortgage. There are some very strict exceptions with FHA loans that will not require a waiting period. This includes making all of your old mortgage payments on time for at least 12 months leading up to the sale. This is quite hard to bypass since the loan was likely in default, which caused the need for the short sale.

Work to Improve Your Credit Score

During the waiting period mandated by your lender, use that time to work on improving your credit score. You will need to have a good credit score to get another mortgage after the short sale waiting period. The short sale will hit your credit score somewhat, but it will not be as bad as a foreclosure. Your mortgage lender will require a specific credit score for a new mortgage, which will vary from bank to bank. To improve your score, make sure you are paying your current bills on time and keep your credit balances low.

Pay Attention To Your Credit Report

As you are working to improve your credit score, you should also be monitoring your credit report. You specifically need to check the reporting of the short sale on your report, as they are often misreported as a foreclosure. This can make a huge difference on your credit score. A foreclosure on your credit report can also prevent you from getting a new mortgage for a much longer time period. You will also need to check your report for any inaccuracies that need to be repaired. Failing to check your credit report can result in a lower credit score, prevent you from obtaining new credit, and even require higher down payments on a new mortgage.

Obtaining a new mortgage after the short sale is going to take some patience and hard work. A short sale can be the beginning of a new start as long as you are responsible with your finances from this point forward.

Speak with a company like Doolin Security Savings Bank for more information.

3 Reasons Why Your Home Loan Could Be Denied

Posted by on May 12th, 2016 in Uncategorized | Comments Off on 3 Reasons Why Your Home Loan Could Be Denied

One of the most time-consuming parts of buying a new home will be securing your financing. With several steps in the process, it’s possible for something to go wrong during any of them, leading to your home loan being denied. While you have control over some factors, others may not be apparent until after the home-buying process has started. Be aware of these three issues so that you are not caught off guard by a sudden home-loan denial.

The Home Inspection Comes Back Bad

It’s typical for a mortgage lender to want to see the results of your home inspection after you have it done. The inspection is what allows you to get a professional look at the guts of the home, and it is typically one of the last chances you have to back out of the deal in case you find something you do not like. The mortgage lender wants to look at the home inspection for the same reason.

Since it’s possible that the lender may get the property back if you default on the loan, they want to loan money for a home that is in good shape. For example, if the inspection finds major foundation damage, then your loan could suddenly be denied.

The Home Is Under-Appraised

Near the end of the home-buying process, your mortgage lender will have an appraisal performed for the home you are buying. This step involves having an independent contractor give their assessment of how much the home is worth. The goal is to see if the home is in the price range of what you ended up paying for it.

Once again, the mortgage lender technically owns the home until your mortgage is paid off. If you overpaid for the home based on the assessment value, the lender may not be comfortable giving you a loan that is more than what the house is worth. You may be required to pay the difference so that the mortgage is only worth the value of the home or your loan could be denied.

You Make Big Purchases Before the Mortgage Is Finalized

Your credit is pulled at the beginning of the mortgage process, but your lender may do it again before they finalize the loan. This is because they want to ensure your debt-to-income ratio is still the same and that you haven’t gotten another loan or haven’t had any blemishes added to your credit report since the process started.

Some homeowners decide to get a head start on their home renovations by opening new lines of credit and making big purchases at local home improvement stores. Even though you have good intentions with this kind of purchase, the lender may view you as a risk and the loan could be denied.

If you want to make sure your loan goes through, be sure to work closely with your mortgage lender throughout the entire process so you can be prepared for any of these situations. Find a lender through a company like Premium Mortgage Corp and ask them about all the factors you should be aware of before you try to take out the loan.

Answering A Couple Of Questions Concerning Home Equity Loans

Posted by on Apr 7th, 2016 in Uncategorized | Comments Off on Answering A Couple Of Questions Concerning Home Equity Loans

Applying for a loan can be a stressful experience for anyone to go through. It is common for individuals to feel somewhat overwhelmed by the assortment of loan and financing options that may be available, which can make it easier for them to overlook some of their options. For those that own their homes, it may be possible to utilize a home equity loan, but if this is not a type of financing that you have much experience using, you may benefit from having the following couple of questions answered.

How Does Equity Work?

Equity essentially describes your ownership of the house, and this is important for these loans because the home will be used as collateral. In order to determine your equity, the bank will consider any existing lines of credit against the home and the approximate value of the house. If the value of your home is greater than the amount of credit that it secures, you are considered to have positive equity in the house, which is a basic qualification for receiving this type of financing. These loans can be extremely convenient for those that own a house because they may have much lower interest rates due to the fact that the loan is secured with such a valuable asset. However, you should be aware that the amount of the loan that you can receive will be capped at the available equity in the home.

What Factors Are Considered When Taking Out A Home Equity Loan?

In order for a lender to consider you for a home equity loan, it will be necessary to verify that you are the owner of the property. To this end, you will need to submit copies of the deed and title, which will then be verified. This verification process can add several days to the application process time, but it is an essential step for the lender to ensure that its claims to the property being used as collateral are valid. Outside of considering the equity that you have in the house, lenders will also look at your overall financial situation, which will include reviewing your credit history, income and existing debts.

Applying for a home equity loan can be an excellent way of obtaining the money that you need while enjoying lower interest rates. However, if you have never considered using this type of loan, it is important for you to understand how home equity works and the various other factors that the lender will also consider. Being armed with this information will allow you to make the best choice possible when shopping for a loan solution. For more information, contact a company like New Horizons Credit Union.

4 Questions To Ask When Refinancing Your Home

Posted by on Feb 18th, 2016 in Uncategorized | Comments Off on 4 Questions To Ask When Refinancing Your Home

Many homeowners make the decision at some point in time or another to refinance their home and see if they can get better terms. While they might think they have a solid understanding of the process, it can get quite confusing and overwhelming for many. There are a lot of specifics involved in the whole process. You want to make sure you are getting the best deal and not putting yourself into a worse financial situation than what you needed to. If you aren’t sure where to start, here are four questions to ask the lender when going through the application and approval process.  

How quickly can the loan be processed through?

For those who are facing foreclosure, refinancing the loan might be the only way to overcome the default and regain control of your mortgage. If this is the case with your loan, you want to get the mortgage refinanced as quickly as possible to prevent losing your home to foreclosure. Some loan companies will process your loan through within 24-48 hours while others can take weeks. Since each company is different, you want to ask the lender this right from the beginning.

Are there any pre-payment penalties?

While you might only be able to pay the minimum amount due on your mortgage right now, that doesn’t mean your financial situation isn’t going to change in another year or so. In the event that you are able to afford to pay a little extra on your mortgage, you don’t want to be hit with a penalty for doing so.

What is the new percentage rate going to be?

You need to know how much of a difference this new percentage rate is going to make in your overall payments. Dropping your rates by even a percentage point or two can make a big difference in the life of the loan.

Will this extend the amount of time left on the loan?

Make sure you find out if they are going to extend your loan terms as well. If you only have five years left, you probably don’t want to refinance your loan for another 20 years or so. You want to keep the payments down without having to go into debt for longer. Make sure the loan terms are something that you feel comfortable with over the long haul.

By asking the questions above, you won’t end up being hit with a bunch of added costs and fees in the end. Take your time to make sure you have a solid understanding of the process before signing anything. For further assistance, contact local professionals, such as those from Best Rates Mortgage, LLC home refinance.

Why You Should Collect Real Silverware & Tips To Test It

Posted by on Jan 9th, 2016 in Uncategorized | Comments Off on Why You Should Collect Real Silverware & Tips To Test It

You may have silverware, but is it made from real silver? The following guide will show you why it may be a good idea to start collecting real silverware and a few tricks to test silver when you are out and about.

Advantages Of Collecting Silverware

The following are just some things to consider:

Valuable

The first reason you want to start collecting silverware is because it can be worth some cash if you fall on hard times. You can take the piece to your silver specialist, and he or she can tell you if the piece is worth more as an antique or by weight.

Health

Did you know that eating off real silverware can actually be healthy for you and your family? Yes, silver is antibacterial and kills harmful pathogens. There was a time that silver was used by doctors to prevent infections on wounds. So you definitely might be able to prevent all kinds of ailments, like a cold or a stomach flu. 

​How To Test Silver

You should be aware of a few ways to spot real silverware, especially if you purchase your pieces in places like garage sales or antique shops.

Consider the following:

  1. One thing you should know about real silver is that the core is not ferromagnetic, like other metals. So, you should try to purchase your own silver magnetic tester. Just make sure that the magnet is strong enough like a rare-earth magnet. You can purchase these types of magnets in your local hardware store. A silver specialist will have other helpful tips.
  2. What can you do if you do not have a magnet? Well, you can test the piece with a little ice. You just have to make sure that the ice is solid, and place it on the silverware. The ice should melt as soon as it touches your silver piece.
  3. Use a smaller, real piece of silver to lightly bang the piece in question. The reason you want to do this is because silver tapped with silver will make a high-pitched ringing sound. This sound will be very clear and should linger for awhile.

There are other ways you can test if your silverware is real that a silver specialist can enlighten you about. But, as you can see, there are a few reasons to start your collection. And now you know how to check if it’s silver. Talk to gold and silver buyers for more information.