The Loan
Now personal loans are offered at highly attractive rates. So you can comfortably say goodbye to financial constraints.
Bring home the ackers at extremely low APRs and easy terms and conditions offered by the online personal lending industry.
You can expect extremely borrower friendly personal loans online. Most of the times the lenders customise the loan terms and conditions as per the requirements of the borrower. This leads to a win - win situation for both the lenders as well as the borrowers.
Loans are also customised as per the purpose of the need. For instance,
You can get business loans if you want to start up your own entity or you want to trigger the growth of an existing firm.
You can get bad credit loans if you need money but are not able to get any loans due to your past credit records.
You can avail cheap loans if you want a loan but you don't think you can cope with high interest rates later.like a credit card
The APRs offered in the industry
Different lenders charge different rate of interest to the borrowers.
For secured personal loans, the APR may range from 7.9% APR Variable to 19.9% APR Variable.
For unsecured personal loans, the APR may range from 7.4% APR Variable to 41% APR Variable.
The better your credit records, the more you have an advantage in the APR charged.
However it is advised that you look at other aspects too before zeroing on any particular loan offer or lender. Sometimes you may get a very down to earth rate of interest, but the terms and conditions may clamp down on you. So you should priorities your requirements and select the loan accordingly.
Well, to sum it up in short, online personal lending, due to its easy terms and conditions and attractive APRs have open the door to many people who wish to purchase personal loans.
Bad Credit Mortgage Loans - How Does Your Fico Credit Score Affect Your Loan Approval?
How "bad" is bad credit? If you can pull your credit report yourself and get a copy of your FICO credit score, that will give you a good idea. Here is a general idea of the FICO score breakdown:
500 – 580 - Poor Credit - You should be able to get a home mortgage loan if you are willing to make a down payment, probably somewhere between 5-20%. You will probably need a sub-prime mortgage loan with a slightly higher interest rate.
580 - 620 - Fair Credit - You're right on the edge. You may be able to get 100% financing or you may need a small down payment to make the loan work. Depending on how much money you put down, you may be able to get prime interest rate.
620 - 640 Average Credit -You should get a 100% home loan financing. You should not need to have a down payment. You should be able to get a low interest rate.
640 - 700 Good Credit - You should be able to be approved for a 100 - 125% home mortgage loan. You should be able to get a great interest rate.
700+ Excellent Credit - You’re in the drivers seat! You should be able to get an excellent rate with excellent terms. Of course, all of these factors vary with each borrower depending on the size of loan you want and on your income and other factors.
What is the FICO Score Based On? Most of the FICO score is dependent on amounts owed and payment history. So, the fastest and best way to increase your credit score will be to make payments on time and keep old accounts open.
What Should I Avoid To Keep My Score High? If you are in the process of getting a new mortgage loan, avoid applying for or opening any new credit accounts. This can drop your credit score very quickly and make it that much harder to get approved.
Secured Business Loans: The Safest Way To Get Money For Business
Running a business needs a lot of courage and calculation on the part of the business holder. Also, it needs a lot of money which at times seem scarce in terms of needs. However, money is a need for anyone in the business field to get his business secured. Everyone needs loans to flourish in it, irrespective of his business being large or small. And, for all people irrespective of their credit or financial background there are secured business loans. 
Secured business loans mean security at all the sides of the loans. The borrower, in secured business loans has to pledge one of his valuable assets as the security to the lender. So, the lender feels secured here. One may argue that in secured personal loans, there is a threat to your property. But, while your asset playing as the collateral for the lenders money, you are having the loans also at lower rates of interest and with longer repayment terms, which means you can pay off the loans easily and that means, there is not any threat also.
Secured business loans are available for every reason and for every sort of business, be it a small one or large one. Also, you can opt for the secured business loans if you are planning to start a new business and not having enough money to fulfill your dream.
Also, secured business loans are available for both the good credit holders and the bad credit holders. Only, in case of the bad credit holders, the secured business loans provider might charge a bit of higher rates of interest because of the credit record of the borrower, obviously.
However, if someone opts for secured business loans, he should go online since, going online gives you scores of options simply because, you will find all the lenders there, which creates a lot of competition. Ultimately, the lenders online competing with each other will also give you the cheapest rates of interest for your secured business loans.
Homeowner Loans Ahead To Fix Financial Worries
If you have got your own roof over your head that really counts, even when your money need is urgent. Let’s get deep into the statement. The statement means to say that when you are in need of money and there is no one who could personally help you out, the homeowner loans come ahead to serve your needs.
Homeowner loans are for the homeowner who needs loans and do not bother about pledging his home for the loans. These are the loans secured by nature. Homeowner loans secure the lenders by the borrower’s home playing as the security. But, this does not mean that the borrower will loose his home if he opts for homeowner loans. He will, instead, continue to enjoy the physical possession of his property. Only in case the borrower fails to repay the loans in due time, the lender is allowed to take over the property so long playing as the collateral. However, in homeowner loans, it is not at all a problem to pay the loans off timely because of the security assured only. The lender gives the loans in lower rates of interest and with longer repayment terms for he gets the security that his money will be paid back, other wise he can take over the property of the borrower.
Homeowner loans are available for everyone. It is open for all and the people who are having bad credit records are also eligible to apply for homeowner loans. But, they have to pay somewhat higher rates of interest to get the homeowner loans in comparison with the bad credit holders. This happens because these people applying for homeowner loans are advanced the homeowner loans in spite of their bad credit records.
However, homeowner loans are best served online, because online you can find a lot of more loan quotes coming from a lot of lenders who will give you the loans at the minimum rates because of the high competition prevailing in the market. You will only have to choose the best dealer from this lot.
What Taxes You Are Responsible For As An Ebay Seller?
There are three types of tax that you will be responsible for when you start your eBay business. They are 1) sales and use tax, 2) payroll tax and 3) income tax.
Sales and use tax - Just about every state, and many cities and other local authorities, imposes a sales tax on items sold. Each state has different rules, so it's important to find out the rules in your state and city. As a seller, you are responsible for collecting and remitting the proper sales tax to the state you live in. You are also responsible for preparing and submitting a report detailing the amount of your sales and the sales tax collected.
You may also be subject to use taxes. This is taxes on goods you purchased out of state that you did not pay sales taxes on. The use tax generally applies to items purchased out of state which would have been subject to sales tax if the purchase transaction had taken place in state. The use tax came about from the concern that purchasers could avoid paying a state's sales tax by making their purchases outside the state.
Payroll tax - The second type of tax that you are responsible for as an eBay seller is payroll tax. If you hire employees to help you with your eBay business, you are required to withhold federal income taxes, Social Security and Medicare taxes, and state income taxes. These taxes must be submitted to the proper tax authorities on a periodic basis (usually quarterly). In addition you must pay unemployment insurance and workers' compensation on all employees.
If you operate your business as an S or C Corporation, you will need to setup payroll for yourself, and remit payroll taxes on your own salary. If you operate as a Sole Proprietorship, you pay self employment tax instead of payroll tax.
Income tax - The final type of tax is the income tax. No matter how your business is structured, you will be required to pay income tax on the business' net profit.
Sole Proprietors pay income tax on their personal income tax return (Form 1040). Your business profit is calculated using Schedule C – Profit or Loss From Business, and your profit is added to your other income to determine your tax liability.
S Corporations file Form 1120S to report the business profit or loss. A Schedule K-1 is then prepared, which shows each shareholder's share of the net profit or loss that needs to be declared on their personal tax return.
C Corporations file Form 1120 to both report the business net profit and to calculate the resulting income tax.
Depending on the state you do business in, you may also be subject to state income taxes on your business profits. The state level taxes are often referred to as franchise taxes.
Mutual Funds: Low Risk Yet High Return
Why do we invest money in a particular busines? It is a question that you should answer first before you start any kind of business. Succesful investors always remember to include every detail on their planning activities-- and they have answered every vital question that they should address first.
You invest money for profit. Thus, you need to consider investments that can give you a high return. You might consider gambling your capital in a stock market, where every cent can be doubled or tripled, depending on market conditions. Since stocks could be easily acquired and sold, it is one of the viable options that you may consider in choosing an investment portfolio.
However, a high return may also come with high risk. Do you remember the unwritten rule "high risk yet high return" and "low risk yet low return"? It is true that investing in the stock market may give you a huge profit, but expect your capital to be at a high risk. Unstable market conditions might cause you to lose all of your money.
If you do not like taking high risks, the stock market is not an ideal investment for you. You may look for an alternative that could give you the same return but with lower risk than investing in stocks. If you are under this category of investors, then you might consider investing in mutual funds.
Mutual funds are a good alternative for investors who do not want to take the risk when getting a huge profit. It is a "common fund" or amount of money pooled by a group of investors with a definite investment objective. Such pooled money would be managed by a fund manager, an individual who specializes in different types of investments, such as bonds and stocks. He would be the one responsible in managing and investing the pooled money in different securities.
In mutual funds, all profits and losses will be shared among the fund's shareholders. In other words, all profits as well as losses will be shared among the group according to the percentage of individual share in the fund. For instance, if you are a group of five investors, investing $20,000 each, making your mutual fund to be worth a hundred thousand dollars. All profits as well as losses would be distributed on a 20-percent basis, thus reducing all possible risks.
Aside from the low-risk feature of mutual funds, you need not to be an expert in stocks or other forms of securities. The fund manager would be the one to take care of it. In addition, you can diversify your capital and spread it to other types of investment. Diversification means spreading all of your money into several investments. In case one investment is down, there are other investments that you can concentrate with. Thus, you will not be losing all of your money in a single investment as well as maximizing your potential profit through other types of investments.
The mutual funds will automatically diverse your investment across bonds or other securities. Again, the fund manager would be the one to handle all transactions and determine if it is viable for you to invest on that particular security.
Form a pool of investors and combine all of your capital into a single mutual fund. Share the huge profits out of diversified investments as well as enjoy the reduced-risk feature that comes along with it.
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Managing Money Related To Schooling Costs For Tax Breaks
Student loans are eligible for interest deductions on taxes. For example, the student loan interest deduction will allow you to take up to $2,500 as a deduction on any interest you paid on a student loan debt. Of course, the deduction is only good if you are actually using the loan to pay for a qualified program of higher education for yourself, your spouse, or your children – basically, anyone who can be listed as a dependent on your tax forms. To more easily identify the interest payments, consolidate debt related to student loans.
The tax deduction can be claimed if the money was used for college or vocational school related expenses including tuition, fees, books, equipment, room and board, transportation, and supplies. It cannot be claimed if someone else can claim the exemption, you are married filing separately, the loan was made by a relative, or in other limited instances.
Like any tax deduction that is based upon federal student loan monies, any costs you incur have to be reduced non-taxable distributions, other forms of assistance, and other non-taxable payments that were received for educational expenses. Because the world of finance can be confusing to the non-professional, if you have any doubt about whether or not your interest is deductible, you should check with the tax agency and/or a personal financial advisor. He can help you identify ways of managing money expenditures and tracking student related payments. It is hard to keep up with student loan and tax requirements, so you are better asking the professionals to help you on top of the ever changing rules. For example, in 2002 there was a change to the student loan program that discontinued the “first 60 months” requirement on interest paid, and made deductions for voluntary interest payments permissible as well as the required payments that were deductible from previous years. Tax forms were altered to allow the deductions to be taken from either Form 1040 or 1040.
Tax deductions related to school tuition benefits are a great benefit to families who want to help their children obtain higher education but simply cannot find sufficient funding. The costs associated with higher education are a big burden to anyone who incurs them, a tax break of this sort can offer a little bit of relief.
Build The Nest Early And Retire At 50
Investments are the rose-beds for old age. So it is imperative that you invest and ensure a comfortable future, after you retire. But investment involves a lot of strategy and planning. A smart investor would know what to invest, where to invest and most importantly, when to invest. As far as this ‘when’ goes, it’s always best to start building one’s nest early and hoard enough to retire at 50. That way, you can devote big time doing things closest to your heart post-retirement.
There are several ways to build one’s funds, but one must weigh the stakes and opportunities of every investment vehicle. The idea is to work hard, spend judiciously and save consciously. Unless you save at least 20%-25% of your income, you’ll probably not make it to an early retirement.
The big question is “how”?
Well, let’s begin from home. Cut down your expenses. Too much of eat-outs or unplanned spending are the usual deterrents to your savings. So check that. Then, may be changing your Lexus for the new Audi, and that for a Benz, all in a span of 10 years wouldn’t be a nice idea if you’re willing to build a ‘nest’. However, you must not stifle your living. Stay in the comfort zone, but be prudent.
Another significant way to grow your nest is by investing on a 401(k) plan, if your company offers one. A 401(k) has superb benefits—your money is directly saved from your paycheck, the money grows tax-free until withdrawn and your employer matches a percent of what you invest.
Next, invest your on IRAs. The traditional IRAs provide attractive benefits like the 401(k): it’s tax-free till withdrawn, you’ve a chance to deduct your contribution on your tax return, you can invest in anything. And if it’s a Roth IRA, you can’t deduct your contributions; but, you can withdraw money anytime tax-free and without penalty. The best part is: the money you reap from a 401(k) or IRA is taxed as your ordinary income. So it’s favorable for you.
Often people tap into the retirement savings prior to retirement. But this is totally uncalled-for as this leaves you with a much smaller nest after taxes and penalties.
Another common method to build funds is to invest in stocks. Though the stock market is never constant and is a risky mode of investment, the rewards are far too good to miss. It’s a huge advantage if you manage to understand stock market trends and invest accordingly. Keeping an eye on stock charts, or staying tuned to the market news helps a good deal on this regard. There are several websites dedicated to these. You may also consider taking a fund manager. But you must have 75%-80% of your portfolio in stocks, the market staggering notwithstanding.
So save throughout your career. And when the nest is ready, give wings to all your crazy desires for the rest of your life.
Know that You Have Rights under the Law
You Have 3 Business Days to Cancel the Loan
If you're using your home as security for a home equity loan (or for a second mortgage loan or a line of credit), federal law gives you 3 business days after signing the loan papers to cancel the deal--for any reason--without penalty. You must cancel in writing. The lender must return any money you have paid to date.
Do You Think You've Made a Mistake?
Has the 3-day period during which you may cancel passed and you're worried that you've gotten in over your head? Do you think your loan fees were too high? Do you believe you were steered into monthly payments you can't afford? Has your lender repeatedly pressured you to refinance? Is your loan covered by insurance you don't need or want?
If you think you've been taken advantage of, state and federal laws may protect you. Also, the following organizations may be able to help:
 | Your local or state bar association--sometimes listed under "Lawyers Referral Service" in the Yellow Pages of your phone book. The association may be able to refer you to low-cost or no-cost lawyers who can help. |
| Your local consumer protection agency, state attorney general’s office, or state office on aging, listed in the Blue Pages of your phone book. |
| Your local fair housing group or affordable housing agency, housing counseling agency, or state housing agency. |
You can learn more about credit and home equity loans by visiting the federal government’s web site for consumers (see the Home and Community section). If you don’t have access to the Internet, ask a friend or relative to get the information for you. Or visit your local library or senior center, which may offer you free access to the Internet on their computers.
Think Twice before You Sign
| Have a knowledgeable friend, relative, attorney, or housing counselor review the Good Faith Estimate and other loan papers before you sign the loan contract. Be sure the terms are the same ones you agreed to. For example, a lender should not promise one APR and then--without good reason--increase it at closing. | |
| Refer to the list of questions you’ve written down. Ask where these terms are covered in the loan contract. And ask for an explanation of any dollar amount or term you don’t understand. Don’t let anyone rush you into signing the loan contract. |
| Make sure all promises, oral and otherwise, are put in writing. It’s only what’s in writing that counts. |
| Get a copy of the documents you signed before you leave the closing. |
Do Your Homework
Contact several lenders--and be very careful about dealing with a lender who just appears at your door, calls you, or sends you mail. Ask friends and family for recommendations of lenders. Talk with banks, savings and loans, credit unions, and other lenders. If you choose to use a mortgage broker, remember they arrange loans but most do not lend directly. Compare their offers with those of other direct lenders.
Be wary of home repair contractors that offer to arrange financing. You should still talk with other lenders to make sure you get the best deal. You may want to have the loan proceeds sent directly to you, not the contractor.
Comparison shop. Comparing loan plans can help you get a better deal. Whether you begin your shopping by reading ads in your local newspapers, searching on the Internet, or looking in the phone book, ask lenders to explain the best loan plans they have for you. Beware of loan terms and conditions that may mean higher costs for you. Get answers to these questions and use the worksheet to compare loan plans:
Think about Your Options
If you’re having money problems, consider these options before you put your home on the loan line.
| Talk with your creditors or with representatives of non-profit or other reputable credit or budget counseling organizations to work out a plan that reduces your bill payments to a more manageable level. |
| Contact your local social service agency, community or religious groups, and local or state housing agencies. They may have programs that help consumers, including the elderly and those with disabilities, with energy bills, home repairs, or other emergency needs. |
| Talk with someone other than the lender or broker offering the loan who is knowledgeable and you trust before making any decisions. Remember, if you decide to get a home equity loan and can’t make the payments, the lender could foreclose and you would lose your home. |
If you decide a loan is right for you, talk with several lenders, including at least one bank, savings and loan, or credit union in your community. Their loans may cost less than loans from finance companies. And don’t assume that if you’re on a fixed income or have credit problems, you won’t qualify for a loan from a bank, savings and loan, or credit union--they may have the loan you want!
