I have an appraisal report on my desk right now for the purpose of loan modification. A Sacramento area home owner contacted me because her attorney instructed her to hire a real estate appraiser (this is a fairly common practice in loan modification situations). So here I am entrenched in details and analysis in order to provide the home owner with a reliable appraisal report that she can then give to her attorney (who will then take it to the bank or use in court). The goal of the appraisal report is to stimulate conversation with the bank about the true value of the home vs. the current loan amount and situation.
When you need an appraisal to convince your bank of the true and current value of your home, I suggest the following:
• Find an appraiser who knows your market area very well.
• Look over the appraiser’s website to see which areas he covers. Is your neighborhood located within the coverage territory? It should be.
• Keep in mind that appraisers often do have experience in cities located much further from where their office is located (this is certainly the case with me). It’s reasonable for an appraiser to cover large territories, but the real key is that the appraiser is knowledgeable enough in your market to be able to correctly value your property (geographical competency).
• It might be a good idea to interview the appraiser and ask him about his experience as it pertains to your area of town.
• Tell the appraiser a little about your property so that he can assess whether your property is something he can take on. For example, if you have a detached single family residential house in Fairfield, Roseville or Sacramento on a fairly typical lot size, that is something much different than if you have a mansion on 250 acres with agricultural production.
• Don’t go with the lowest price. If you look hard enough in any trade it is inevitable to find someone who is willing to provide a service for a little cheaper than anyone else. But what kind of product do you usually get for the lowest fee? Your loan modification is a very crucial decision and it is important that you are presented with the best possible product to suit your needs.
If you have any questions, feel free to contact me at 916-595-3735 or www.lundquistcompany.com or “ryan [at] lundquistcompany [dot] com”. I am more than happy to walk home owners through what the appraisal process entails.
Thursday, October 8, 2009
Thursday, September 17, 2009
Need a Loan to Finance Your Lawsuit
Litigation isn’t cheap. Anyone who has gone through a lengthy lawsuit can tell you that the costs and expenses of litigation easily spiral into thousands of dollars.
Without funding, lawsuits can’t happen. By no means am I encouraging frivolous litigation, but lawsuits can be necessary to protect and advance your rights.
This is where companies like Lawsuit Funding Services can help. They specialize in helping people fund litigation. Fill out a simple form, they review your case, and you can have funding within 24 hours.
I imagine the lawsuit funding industry is actually pretty busy. Litigation loans could be used in many cases where the plaintiff would not otherwise have the funds to pursue a lawsuit. I’m sure the loan companies review the case to make sure there is a good chance of monetary recovery so they can recoup on their loan.
At the same time, I would bet that some people do not look highly on this sector of the financial services industry. Something about lawsuit loans leaves a slightly bitter taste in the mouth. It almost seems like the payday and car title loan industry. Hopefully it’s not.
For some reason I keep thinking of A Civil Action, where a tiny law firm almost went bankrupt trying to nail W.R. Grace and Beatrice Foods for dumping toxic waste. (Yes, I know the book was first. And yes, I know it’s based on a real case.)
Have you ever needed lawsuit funding? What do you think of this industry?
Note: This was a sponsored post, but there were no requirements as to length, content, or tone. The views above reflect my honest opinions.
Photo by TW Collins
quick secured loan You can have 90% of the loan market searched for a quick and easy secured home loan. Save yourself time and effort searching the loan market yourself
Without funding, lawsuits can’t happen. By no means am I encouraging frivolous litigation, but lawsuits can be necessary to protect and advance your rights.
This is where companies like Lawsuit Funding Services can help. They specialize in helping people fund litigation. Fill out a simple form, they review your case, and you can have funding within 24 hours.
I imagine the lawsuit funding industry is actually pretty busy. Litigation loans could be used in many cases where the plaintiff would not otherwise have the funds to pursue a lawsuit. I’m sure the loan companies review the case to make sure there is a good chance of monetary recovery so they can recoup on their loan.
At the same time, I would bet that some people do not look highly on this sector of the financial services industry. Something about lawsuit loans leaves a slightly bitter taste in the mouth. It almost seems like the payday and car title loan industry. Hopefully it’s not.
For some reason I keep thinking of A Civil Action, where a tiny law firm almost went bankrupt trying to nail W.R. Grace and Beatrice Foods for dumping toxic waste. (Yes, I know the book was first. And yes, I know it’s based on a real case.)
Have you ever needed lawsuit funding? What do you think of this industry?
Note: This was a sponsored post, but there were no requirements as to length, content, or tone. The views above reflect my honest opinions.
Photo by TW Collins
quick secured loan You can have 90% of the loan market searched for a quick and easy secured home loan. Save yourself time and effort searching the loan market yourself
Monday, August 24, 2009
Do You Have A Low Credit Score But Need A Loan
Are you concerned that you have a low credit score? Do you think you will get turned down for a loan because of your low credit score? This information may help you.
First, a low credit score would be any score below 600. Now this also depends on what you need a loan for. Most car dealers will approve a loan with a credit score of 525 or higher with a good down payment.
Second, If you can wait on getting a loan, wait until that score goes up, but if you need one now try to find the right type of lender.Suppose you need a personal loan for $5000 and your score is only 540, don't go to a bank for a loan because they will turn you down. You will have an better chance of approval at the payday loan office or an online lender like CreditSource.org.
Third, if you have a low score and want a mortgage or refinance, then you will need something to bargain with like high equity on the re-fi or big down payment on the purchase. With a low credit score these tips can help you avoid getting into something that may not be in your best interest.
If you want more information about a low credit score or how to improve it, visit Credit Help Pro. They have all of the information you need about credit and debt solutions
First, a low credit score would be any score below 600. Now this also depends on what you need a loan for. Most car dealers will approve a loan with a credit score of 525 or higher with a good down payment.
Second, If you can wait on getting a loan, wait until that score goes up, but if you need one now try to find the right type of lender.Suppose you need a personal loan for $5000 and your score is only 540, don't go to a bank for a loan because they will turn you down. You will have an better chance of approval at the payday loan office or an online lender like CreditSource.org.
Third, if you have a low score and want a mortgage or refinance, then you will need something to bargain with like high equity on the re-fi or big down payment on the purchase. With a low credit score these tips can help you avoid getting into something that may not be in your best interest.
If you want more information about a low credit score or how to improve it, visit Credit Help Pro. They have all of the information you need about credit and debt solutions
Monday, August 17, 2009
Loans for people with bad credit
When you start a family of your own you start building debt in so many ways - for buying a car, buying a house and so on. In our case, it was worse because we were working at different place, me in Kedah in the north of Malaysia and my wife in Kuala Lumpur. We had to maintain 2 separate houses and we also had our own cars. We also decided to buy an apartment on a loan which we have to repay for 25 years.
This caused a severe strain on our finances. We were fortunate because both of us were working. However, things would suddenly turn up that we had no chance but to borrow money (using our credit cards). Like the time my wife had to go for a Caesarean birth. We decided to go to a private hospital and as you know these places are not free or even cheap. Fortunately our bank credit history was good.
We are still in the process of repaying of our house loan. Thank God! we got rid of both our car when we came to the UK, otherwise we would have been paying for that too.
I am sure many people are in a similar situation and maybe worse. Some of these people come under what is known as a bad credit history. Whenever we apply for a loan, our credit history is reviewed. If you have a bad credit history, you may have to settle for a bad credit loan, which has less favourable terms including higher interest rates. There are several Loans For People With Bad Credit. This includes Bank loans for financing your business and Secured loans for people with bad credit but who have property, among others.
This caused a severe strain on our finances. We were fortunate because both of us were working. However, things would suddenly turn up that we had no chance but to borrow money (using our credit cards). Like the time my wife had to go for a Caesarean birth. We decided to go to a private hospital and as you know these places are not free or even cheap. Fortunately our bank credit history was good.
We are still in the process of repaying of our house loan. Thank God! we got rid of both our car when we came to the UK, otherwise we would have been paying for that too.
I am sure many people are in a similar situation and maybe worse. Some of these people come under what is known as a bad credit history. Whenever we apply for a loan, our credit history is reviewed. If you have a bad credit history, you may have to settle for a bad credit loan, which has less favourable terms including higher interest rates. There are several Loans For People With Bad Credit. This includes Bank loans for financing your business and Secured loans for people with bad credit but who have property, among others.
Thursday, August 6, 2009
Car Loan Tips
Financing a new car purchase requires some research. Before venturing out to the car dealerships uninformed, let's take a look at what you will need to know about the car buying process.
First of all, about 70% of all new car purchases are financed. So unless you plan on paying cash for your new car, or you are going to apply for a car loan, chances are you will be financing your purchase.
1. Determine your financial situation
This is the first and most important step in the car buying process. You must know how much you can spend before you can determine what you can afford. You don't want to get stuck making a bloated car payment that will leave you eating bologna sandwiches for three years.
First of all, you need to have a monthly budget. This is very easy to calculate. Add up all of your fixed monthly expenses, such as your rent/mortgage, phone bill, etc. Subtract that from your net income. Then subtract your estimated extraneous expenses, such as food, gas, entertainment, whatever. The result should be an amount of money you have to play with.
From that, you need to remember that buying a car involves more than a down payment and monthly payments. In your budget you will need to include licensing, registration and other hidden costs, as well as monthly insurance costs, gas and maintenance.
Once you have all of this worked out, you should have a ballpark figure of the budgeted amount you can use for car payments. A good rule of thumb is roughly 20 percent of your net income can be used for a car payment. Once you determine that figure, stay with it.
2. Decide which car you want
Now that you have settled on a monthly allotment, now you can look at which vehicles fit into your price range.
This is really about personal choice, but a good criteria to go buy is to look at what your needs are. Do you have a family? There are plenty of affordable, safe and reliable minivans and station wagons on the market. Single and commute, or do a lot of city driving? The compact segment has a wide range of models to choose from that boast handling and superior gas mileage. Do you use your vehicle for work-related tasks, such as hauling, delivery, etc? Check out the many light and heavy-duty pickup trucks and vans. Midlife crisis? There are several convertibles and sports cars that will make you feel young again.
Also consider your wants. Compact cars get really good gas mileage and are a great if you want to save money on the increasing gas prices. Plan on taking road trips? Consider something that gets good mileage and has cargo space and lots of cup holders. Plan on going off-roading? The SUV is your best bet. Some even come with a first-aid kit!
Once you've narrowed your choices down to a couple, it's time to do some car research.
3. Do your homework
All right, Columbo. Here's where you will need to spend some time sorting through some details, but it will be worth the effort in the end. After all, the more you know about what you're buying, about whom you're buying from, and about the buying process itself, the more money you will end up saving.
There are plenty of places for you to do your car research. Check out the Internet and newspapers, contact car dealerships, credit unions and local banks to see what kind of deal you can get. Knowing what a car dealer's competition is offering can only help you out in the negotiating process.
Look at interest rates. You'll want to get the lowest possible interest rate, as it will help you pay less in the long run. Many car buyers focus on getting the lowest possible down payment. If a car dealer gives you a low down payment, the money you are saving has to be made back. Car dealers will find ways to lower your down payment, and as a result will find ways to compensate for their generosity. By deferring the down payment "savings," with interest, you'll end up paying more in the long run.
Also be aware of factory-to-dealer incentives. The secret is that the manufacturer refunds a certain percentage of the car's price to the dealer. So even if the car dealer sells you a car at the invoice price, he or she will still make money from the deal. Find out about a manufacturer's incentive percentage, as they are public information.
You should also look out for rebates. When incentives are offered, this often means the manufacturer wants to either get rid of slow-selling cars or reduce the inventory. Therefore, they may also offer the buyer a cash rebate and a low financing rate, or an option of one of the two.
4. Go to the car dealerships
Now that you have an understanding of what kind of rate you will be offered, you now want to go out to the car dealerships. You already have an idea of what kind of car you want, how much you can spend and what kind of perks you can get. Also you have an idea as to what different car dealerships are offering. This is quite a bit of information for you to carry with you into the negotiating process. But again, the more you know, the better off you'll be. But remember: Car dealers are professional negotiators and do it everyday. You are a novice and will be treated as such. The car dealers aren't going to be easy on you, nor are they going to point out all the ways you can save money. It's up to you to find all of those.
Also remember that you are in control at all times. You have the right and ability to stand up and walk out of the office at any point and the dealer will lose the sale. Don't let a car dealer intimidate you. Be relaxed and comfortable you know all the information and that you hold all the cards.
First of all, about 70% of all new car purchases are financed. So unless you plan on paying cash for your new car, or you are going to apply for a car loan, chances are you will be financing your purchase.
1. Determine your financial situation
This is the first and most important step in the car buying process. You must know how much you can spend before you can determine what you can afford. You don't want to get stuck making a bloated car payment that will leave you eating bologna sandwiches for three years.
First of all, you need to have a monthly budget. This is very easy to calculate. Add up all of your fixed monthly expenses, such as your rent/mortgage, phone bill, etc. Subtract that from your net income. Then subtract your estimated extraneous expenses, such as food, gas, entertainment, whatever. The result should be an amount of money you have to play with.
From that, you need to remember that buying a car involves more than a down payment and monthly payments. In your budget you will need to include licensing, registration and other hidden costs, as well as monthly insurance costs, gas and maintenance.
Once you have all of this worked out, you should have a ballpark figure of the budgeted amount you can use for car payments. A good rule of thumb is roughly 20 percent of your net income can be used for a car payment. Once you determine that figure, stay with it.
2. Decide which car you want
Now that you have settled on a monthly allotment, now you can look at which vehicles fit into your price range.
This is really about personal choice, but a good criteria to go buy is to look at what your needs are. Do you have a family? There are plenty of affordable, safe and reliable minivans and station wagons on the market. Single and commute, or do a lot of city driving? The compact segment has a wide range of models to choose from that boast handling and superior gas mileage. Do you use your vehicle for work-related tasks, such as hauling, delivery, etc? Check out the many light and heavy-duty pickup trucks and vans. Midlife crisis? There are several convertibles and sports cars that will make you feel young again.
Also consider your wants. Compact cars get really good gas mileage and are a great if you want to save money on the increasing gas prices. Plan on taking road trips? Consider something that gets good mileage and has cargo space and lots of cup holders. Plan on going off-roading? The SUV is your best bet. Some even come with a first-aid kit!
Once you've narrowed your choices down to a couple, it's time to do some car research.
3. Do your homework
All right, Columbo. Here's where you will need to spend some time sorting through some details, but it will be worth the effort in the end. After all, the more you know about what you're buying, about whom you're buying from, and about the buying process itself, the more money you will end up saving.
There are plenty of places for you to do your car research. Check out the Internet and newspapers, contact car dealerships, credit unions and local banks to see what kind of deal you can get. Knowing what a car dealer's competition is offering can only help you out in the negotiating process.
Look at interest rates. You'll want to get the lowest possible interest rate, as it will help you pay less in the long run. Many car buyers focus on getting the lowest possible down payment. If a car dealer gives you a low down payment, the money you are saving has to be made back. Car dealers will find ways to lower your down payment, and as a result will find ways to compensate for their generosity. By deferring the down payment "savings," with interest, you'll end up paying more in the long run.
Also be aware of factory-to-dealer incentives. The secret is that the manufacturer refunds a certain percentage of the car's price to the dealer. So even if the car dealer sells you a car at the invoice price, he or she will still make money from the deal. Find out about a manufacturer's incentive percentage, as they are public information.
You should also look out for rebates. When incentives are offered, this often means the manufacturer wants to either get rid of slow-selling cars or reduce the inventory. Therefore, they may also offer the buyer a cash rebate and a low financing rate, or an option of one of the two.
4. Go to the car dealerships
Now that you have an understanding of what kind of rate you will be offered, you now want to go out to the car dealerships. You already have an idea of what kind of car you want, how much you can spend and what kind of perks you can get. Also you have an idea as to what different car dealerships are offering. This is quite a bit of information for you to carry with you into the negotiating process. But again, the more you know, the better off you'll be. But remember: Car dealers are professional negotiators and do it everyday. You are a novice and will be treated as such. The car dealers aren't going to be easy on you, nor are they going to point out all the ways you can save money. It's up to you to find all of those.
Also remember that you are in control at all times. You have the right and ability to stand up and walk out of the office at any point and the dealer will lose the sale. Don't let a car dealer intimidate you. Be relaxed and comfortable you know all the information and that you hold all the cards.
Monday, July 27, 2009
• Tips on Getting a Guaranteed Approval Credit Card
Being stuck with bad credit or having a low credit score can seriously limit your choices when it comes to financial matters. You may find it hard to get the best deals from lenders or find a credit card that will give you an approval.
In connection with this, how can guaranteed approval credit card for bad credit help you? If you currently have bad credit, should you get a guaranteed approval credit card? Here are important points to consider.
Not all guaranteed approval credit cards are the same. Just like with standard credit cards, not all instant approval cards offer the same terms. More importantly, not all impose the same charges. Some guaranteed approval cards may charge excessive rates while others can ask for reasonable interest rates from their clients. To get the best deal, you need to exert some effort in researching and studying your options.
Guaranteed approval cards can improve your credit. Getting a guaranteed approval credit card can be a stepping stone to help you rebuild your credit and improve your score. All it takes is keeping your charges within your credit limit and submitting your payments promptly at all times. After a certain period, you’ll find your credit status significantly improved.
The interest rate isn’t the only fee on the card. Again, don’t be too focused on the interest rate of the credit card. Some guaranteed approval credit cards may offer attractively low interest but impose unreasonably high annual fees and penalties. When comparing your choices, be sure to compare all the rates and costs that are associated with your credit card.
Not all guaranteed approval credit cards report to the major credit bureaus. Do all instant approval cards report to the credit bureaus? The answer is no. If you don’t check on this particular feature, you may end up with card that doesn’t provide this service. Remember, if you want to start improving your credit score, you should only get a guaranteed approval credit card that updates with the three major credit bureaus.
Owning a guaranteed approval credit card is just the first step. To improve your credit score, it is not enough just to own an instant approval card. It is important that you use your credit card regularly. Nevertheless, you should be aware of your expenses.
Pay off your new credit card balances in full. Be careful not to charge an amount on your credit card that you can’t pay back in full by the end of the month. Don’t be content with submitting only the minimum payment on your card. It is a must that you pay off your balances completely each month.
Never underestimate the value of reading your contract. Some credit card applicants skip on the card’s terms and conditions. Others merely scan through the contract. Keep in mind that guaranteed approval credit cards grant easily approval. To avoid binding yourself to unreasonable conditions, be diligent enough to read and understand each statement in your credit card’s contract.
Read More Tips on Getting a Guaranteed Approval Credit Card
In connection with this, how can guaranteed approval credit card for bad credit help you? If you currently have bad credit, should you get a guaranteed approval credit card? Here are important points to consider.
Not all guaranteed approval credit cards are the same. Just like with standard credit cards, not all instant approval cards offer the same terms. More importantly, not all impose the same charges. Some guaranteed approval cards may charge excessive rates while others can ask for reasonable interest rates from their clients. To get the best deal, you need to exert some effort in researching and studying your options.
Guaranteed approval cards can improve your credit. Getting a guaranteed approval credit card can be a stepping stone to help you rebuild your credit and improve your score. All it takes is keeping your charges within your credit limit and submitting your payments promptly at all times. After a certain period, you’ll find your credit status significantly improved.
The interest rate isn’t the only fee on the card. Again, don’t be too focused on the interest rate of the credit card. Some guaranteed approval credit cards may offer attractively low interest but impose unreasonably high annual fees and penalties. When comparing your choices, be sure to compare all the rates and costs that are associated with your credit card.
Not all guaranteed approval credit cards report to the major credit bureaus. Do all instant approval cards report to the credit bureaus? The answer is no. If you don’t check on this particular feature, you may end up with card that doesn’t provide this service. Remember, if you want to start improving your credit score, you should only get a guaranteed approval credit card that updates with the three major credit bureaus.
Owning a guaranteed approval credit card is just the first step. To improve your credit score, it is not enough just to own an instant approval card. It is important that you use your credit card regularly. Nevertheless, you should be aware of your expenses.
Pay off your new credit card balances in full. Be careful not to charge an amount on your credit card that you can’t pay back in full by the end of the month. Don’t be content with submitting only the minimum payment on your card. It is a must that you pay off your balances completely each month.
Never underestimate the value of reading your contract. Some credit card applicants skip on the card’s terms and conditions. Others merely scan through the contract. Keep in mind that guaranteed approval credit cards grant easily approval. To avoid binding yourself to unreasonable conditions, be diligent enough to read and understand each statement in your credit card’s contract.
Read More Tips on Getting a Guaranteed Approval Credit Card
Wednesday, July 15, 2009
Auto Financing Tips for First Time Car Buyers
You would be looking to buy a vehicle if you have just started with a new job or college. And for anyone his first car is one of the precious purchases of life, especially if you have taken it independently. But unfortunately for the student or first time car buyer who have limited or no credit history getting an automobile with cash is not possible while it gets tough; even to secure auto finance.
Hence online subprime lender recognizes your automobile needs and offers new vehicle financing for the first time buyer who have just started to build credit, but desperately need a car. Those who cannot afford high priced new car there are options available to get a used car loan with zero credit from either a private party or dealership.
First car loan can be the best way to build or rebuild your credit history as the loan stay on your credit report for more than a year if paid consistently. Besides, you would get approved easily on this automobile loan with lower rates as the vehicle acts as a security. And in case of default, the creditor has the right to reposses the vehicle and sells it to regain the borrowed money. So the lender poses less risk and ready to give you a chance to opt for the loan.
Well the major concern which comes while applying for car finance is cosigner, especially for college students or first time buyer who are trying to stand on their feet and have no one to cosign. However, now there are a lot of lenders who also provide no cosigner auto loan for the first time buyer which enable you to get your dream vehicle independently.
One another way to obtain an auto loan with bad credit history is to get pre-approved. Pre-qualifying for auto finance helps you to eliminate the pressure of financing from dealer and paying large down payment to get a lower interest rate or getting your dream car.
Hence, for those first time car buyers who are looking to purchase a new or used vehicle with bad or zero credit history, a first time buyers auto loan can be the excellent way to build a solid credit history. And, with subprime lenders having an online presence can offer you low rates with guaranteed approval through the nationwide network of thousands of lenders even with no credit or poor credit.
Hence online subprime lender recognizes your automobile needs and offers new vehicle financing for the first time buyer who have just started to build credit, but desperately need a car. Those who cannot afford high priced new car there are options available to get a used car loan with zero credit from either a private party or dealership.
First car loan can be the best way to build or rebuild your credit history as the loan stay on your credit report for more than a year if paid consistently. Besides, you would get approved easily on this automobile loan with lower rates as the vehicle acts as a security. And in case of default, the creditor has the right to reposses the vehicle and sells it to regain the borrowed money. So the lender poses less risk and ready to give you a chance to opt for the loan.
Well the major concern which comes while applying for car finance is cosigner, especially for college students or first time buyer who are trying to stand on their feet and have no one to cosign. However, now there are a lot of lenders who also provide no cosigner auto loan for the first time buyer which enable you to get your dream vehicle independently.
One another way to obtain an auto loan with bad credit history is to get pre-approved. Pre-qualifying for auto finance helps you to eliminate the pressure of financing from dealer and paying large down payment to get a lower interest rate or getting your dream car.
Hence, for those first time car buyers who are looking to purchase a new or used vehicle with bad or zero credit history, a first time buyers auto loan can be the excellent way to build a solid credit history. And, with subprime lenders having an online presence can offer you low rates with guaranteed approval through the nationwide network of thousands of lenders even with no credit or poor credit.
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