Archive for Debt
3 Signs Of A Refinancing Scam
Posted by: | CommentsRefinancing your mortgage has the potential to save you a lot of money ? unless you get taken by a scam. Refinancing scams prey on your desire to refi at a low rate. Once they get you hooked by having you put money down or using delay tactics, you have little time to back out. To protect yourself from losing money on your next refinance, watch out for these signs of fraud.
1. Failure To Disclose Rates, Terms, And Closing Costs
Information is your greatest tool when making financial de cisions. With online lenders you can rapidly compare rates, fees, and terms. Many lenders also offer loan estimates, disclosing pertinent information before you begin an application.
Anytime a lender delays or refuses to provide information, you should be cautious. By law, financial company have to tell you the rate, fees, and closing fees of any loan product. You should also know how much time you have to close the deal before rates are subject to reevaluation.
The most common scam involves no t telling you when locked in rates run out. Then at closing, the lender will quote you a new rate a point or two higher.
2. Requests To Sign False Or Blank Loan Forms
Whenever a lender asks you to falsify information or sign blank forms, run away. If you knowingly give false information, you risk legal and financial problems. While you can still go to the authorities, you will have little recourse.
Blank forms provide frauds a license to draw up any kind of loan terms they want. Yo u may end up with higher rates, balloon payments, or signing away your home?s title.
3. Pushes You To Agree To High Balances Or Payments
Be aware when lenders try to push you to agree to a high balance or payment. While all lenders will encourage you to borrow more in order to increase their profits, the good lenders aren?t trying to force you into foreclosure. Legitimate lenders want to collect interest. Scammers want to take your home. View our recommended and trustworthy refinance le nders at www.abcloanguide.com
The best protection from scammers is information. Check out lenders? sites, ask questions, and don?t be afraid of backing out of a deal. Good rates and good terms are out there for those willing to do a little research.
Take a moment to research how to Refinance Your Property, or obtain an ABC Loan Guide list of reputable Home Loan Financing.
No Annual Fee Credit Card
Posted by: | CommentsMost new credit cards come with a no annual fee offer. This hasn’t always been the case. I wonder if issuers realized how much people resented the yearly fee they were charging just to use their credit card?
Now that they gradually eliminated the annual fees, they’ve advanced the ‘no annual fee credit card’ into a marketing incentive. But that doesn’t mean there are no fees at all. That is why you need to read the entire offer before signing for a new credit card.
If you don’t pay the entire balance each month, you must pay a service charge on the unpaid balance. Then if you go over your credit card limit, you must pay an additional fee, perhaps in the $35 range. In addition, if you’re late making any payment, not only are you charged a service charge and maybe an over-limit charge, you’re assessed a late fee as well. These added fees more than make up for the annual fee that has been discontinued for most cards.
When applying for a new credit card, it’s imperative that you plan on and handle your spending and bill paying responsibly. In addition to the added fees, missteps with a credit card can cost you dearly in other ways as well. It can be reflected on your credit report which in turn effects many aspects of your life from a job application, home loan, purchase of a new car, to the interest rate you’re charged on new credit purchases. An unfavorable mark on your credit report can even have an effect when applying for insurance.
No annual fee credit cards are offered by most banks and financial institutions. Once you’ve found a credit card offer that doesn’t charge a yearly fee, you can then look at the additional features of each offer.
No interest for an introductory time can enable you to consolidate debts interest free. Rewards programs for many credit cards include cash back, air miles, and numerous goodies too many to mention. Whatever your current financial situation or outlook, there’s a credit card offer that will fit your needs.
About The Author
Bradley Carson is an internet marketer and is owner of Apply Online For A Credit Card at http://www.cards-king.com.