Is a Debt Consolidation Loan for You?

By Layla Vanderbilt

Many people have overcome their debt problems through debt consolidation loans. However you may be wondering if a debt consolidation loan is really the best idea for your situation. In some cases a debt consolidation loan may put extra unwanted pressure on you and your family and ultimately cause you to lose your home. If you're considering getting a debt consolidation loan then you'll want to consider a few factors to make sure it's the best option for you.

It's important that you factor in if you have bad credit or not. This is because many of the loans that you will qualify for with bad credit will be secured loans. This means that you will have to use a house or vehicle as collateral and if you fail to pay the loan then you will lose whatever item you put up for collateral. Thus it's important to identify why you're getting the loan so that you don't lose something of even greater value. If you happen to qualify for an unsecured loan and you're trying to pay off your debts and not your current bills then you should opt for the unsecured loan. In the event that something unpredictable happens, such as you losing your job, you won't have to worry about your home being in jeopardy. Finally you should ensure that the monthly payments that the loan will cost will fit into your budget without it becoming a problem as you don't want to default on the loan.

You should also review how you ended up in debt. It is important to go over your finances and figure out why and how you're in this situation. This will help ensure that it doesn't happen in the future. If you happen to have more debt than income then you will have to find a way to increase your income or lower your monthly expenses. The easiest way to do this is to move into a less expensive place or even get a second job. If you don't fix the problem that put you in debt then you will always be in debt.

Many people don't realize the purpose of a debt consolidation loan. Rather than getting rid of all the old debts they have, they use it to pay current bills as a supplement for income. This in turn makes their situation even worse and puts them in a position to never be able to get out of debt. This is especially true if they default on the loan. It's better to use a debt consolidation loan properly then use it to pay for month to month expenses.

If you have a lot of debt then a consolidation loan can be very helpful in managing your debts and current finances. Before you take out the loan though you should be ready to use it how it's meant to be used and avoid the pitfalls that it has. Finally you will want to ensure that your lender is giving you a fair interest rate if you have bad credit. - 23212

About the Author:

Layla Vanderbilt is the content coordinator for a leading website that offers for debt consolidation advice and guidance.

Helpful Facts And Advice In Dealing In Real Estate: From Redemption To Foreclosure

By Don Burnham

Nearly everywhere, you can buy real property at an auction. In some states, there is what's called Redemption Laws; the deed or title for this type of purchase is special and has specific rules attached to it. The title you hold is not clear yet, or in simpler terms: temporary. This means that in a matter of months, the former owner from which the property has been auctioned can reclaim the property -the title is defeasible or can be defeated.

The legalities of Redemption Rights: Whenever you purchase real estate with a special defeasible title, you can also purchase along with it, the redemption rights. Doing so ensures that the title you hold is permanent and can't be bought back by the owner. Laws that handle this type of transaction differ with each state, and can be confusing. Consult your real estate attorney if you want a fair trade.

Whenever you make a purchase such as this, you can always buy the redemption rights from the owner -making the title you hold clear, or in simpler terms: permanent. It's always a good idea to consult your real estate lawyer with regards to handling this type of case as the laws differ from state to state. If you're not careful, you can and will get screwed over.

Furthermore, there's a good chance that the owner you're buying redemption rights from is currently handling a great deal of stress -their property is being auctioned off! It's likely that they're not aware of the equity. You however, as the buyer, should be aware of such. Tradition and, well, ethics pertain to the rule of thumb: $1500 for redemption rights. Should they ask for more, check the property's equity and again, consult your attorney.

This note is used to buy property, and comes with a security instrument -a binding legal contract that ensures you pay the note in full. This is called a deed of trust, or more popularly, a mortgage (though the two are different things). Should the borrower be unable to pay the note in full, the lender can take the borrower to court, or even put the property under foreclosure -the process of taking the property as collateral for the money borrowed.

The relationship between notes, deeds, mortgages, foreclosures, borrowers, etc:

In a Deed of Trust state, there are three parties involved in the foreclosure process:

Trustor = Borrower

Beneficiary = Person lending the money (mortgagee)

Trustee: Whoever is handling the transaction

So, in a Deed of Trust state, the Trustee would be the person to file the foreclosure on behalf of the Beneficiary. However, in a mortgage state, the mortgagee would hire a lawyer to start the foreclosure process. The Deed of Trust and a mortgage are two separate security instruments, but they perform the same function. They both secure the property as collateral.

The two major strategies in the event of a foreclosure are:

Equity Split

Short Sale

Sometimes however, should the property and case require it, there is the "subject to" transaction which bases purchase on the existing financing of the real property. - 23212

About the Author:

Want to know more about real estate? Log on to Don Burnham's website http://www.weknowthewayback.com and know everything from redemptions and foreclosure all under one roof.

Points On How To Find A House In Costa Rica

By Randy Berg

The question of "how to find a house in Costa Rica" will need a lot of thinking to be answered; especially of you are an American. Costa Rica has various types of housing which can easily meet the expectations of people who would like to come there and invest in real estate. The prices of real estate in Costa Rica has seen a downtrend during the beginning of recession, however, now it has begun picking up mainly due to the demand.

Costa Rica has become a preferred choice for property investment for the Americans, especially since the prices of real estate have fallen down in America due to recession. Comparatively, the real estate in Costa Rica is blooming because of the demand for real estate in this country. A lot of Americans come here to find their dream nests.

The country of Costa Rica is divided into seven major provinces which are San Jose, Heredia, Cartago, Alajuela, Guanacaste, Puntarenas and Limon. Guanacaste, Puntarenas and Limon are preferred by people who would like to buy beach homes because these places have some of the most amazing beaches in Costa Rica and has a lot of "gringo" (foreigners) population. Places like San Jose, Heredia, Cartago and Alajuela are centrally located and well populated. Most of the native Costa Ricans, also called "ticos", live in these four provinces.

Americans, rather people from any country, who come here to invest in buying a house in Costa Rica, should exert extreme care and caution because it is easy to get conned by Costa Ricans. This article will mention a few points that can come handy when your answer the question of "how to find a house in Costa Rica".

The first thing that you need to keep in mind, while buying a house in Costa Rica, is to have a "tico" (native Costa Rican) by your side. Ensure that the Costa Rican who you have chosen to help you in this endeavor is your friend who you can rely on to get you a good house in Costa Rica.

Once you decide on the area where you would like to buy a house, it is recommended, that you find a property there on rent and stay in that area with your tico friend for a few days. This will give you a clearer picture of the area and its benefits and drawbacks. Based on this you can move ahead with your plans.

After you have decided that the area is safe and suitable for you to live in, you should run a check on the title deeds of the property. You will need the help of your tico friend. Both of you will need to go to the office of Public Registry and try looking for the title information in their computerized database. Your friend needs to mainly do this since the data is mostly in Spanish.

After looking up the title documents and finding everything in place, the next step is to negotiate the deal for the sale. As a "gringo", you should never go ahead to negotiate the deal. You should always ask your tico friend to finalize the payment. This is because Costa Ricans always quote a higher price to the "gringos" as compared to the "ticos". By asking your tico friend to negotiate the deal for you, you can save a lot of money.

Great! Now that you can answer "how to find a house in Costa Rica" better, it is time to proceed with your plans and make that much awaited trip. - 23212

About the Author:

Let Randy Berg help you find affordable properties at Costa Rica Real Estate. Interact with us through our forum.

The Short Sale In A Nutshell

By Don Burnham

When a Trustor can no longer pay a loan in full, what often follows is foreclosure or even bankruptcy. This is a very depressing financial situation, but it can be solved with a little known alternative: the short sale.

Not all lenders will sign a short sale. This is because signing it means agreeing to be paid an amount less than what's due. The lender will be accepting a discounted payment for what they've lent out, in effect, forgiving the remaining deficiencies of the trustor or borrower. Of course, not all lenders will take a short sale -since pursuing foreclosure and taking the property as collateral will certainly make more financial sense.

A local real estate attorney should be consulted to determine whether the loan qualifies for a deficiency judgment or claim, as state laws vary. One should also consult an accountant to determine tax ramifications. The IRS may consider debt forgiveness as income. There is no guarantee that the lender will not legally pursuer a borrower for the difference between the amounts owed and the amount paid. This depends on individual state laws.

To pursue a short sale, consult your real estate attorney if your case is eligible -certain state laws only allow specific values for a loan to qualify for a deficiency judgment in a short sale. Also, consult an accountant, the IRS may consider the unpaid debts as income, affecting your tax records. Also, the borrower is not guaranteed that the lender will not pursue them for the remaining debts beyond the debt already forgiven -an especially good reason to consult your attorney.

It's hard to guess how long securing a short sale will take, but it's sure to be long, tedious, and tiring. Lenders usually say about 21 days or so for a case to be completely approved.

Not just for nonpayers, those who have never once paid a single installment can also avail -thanks in part to their negative equity. To short sell is to get out of a very rough and highly threatening financial situation, take it when you need it and take it if you can.

How the Short Sale works:

The process is quite simple to understand, it starts with the contract, then the authorization to release, and lastly the addendum. The warranty deed is also part of this whole process. What are really important to grasp in the process is the first two documents:

Contract: This can look like anything and can span from just a page to an entire mini book -it all depends on what it contains and how it's laid out. Just think of a generic contract, it can be really simple or really sophisticated. The addendum should be referred to, at any time the price is mentioned in the contract.

The basic document that contains nearly all vital info on conducting the transaction is contained in the addendum:

Origination of the contract

The Date

Names of the parties involved

The address

Tip: It's advised to list both the legal address and the simple address in the addendum -for the purposes of clarity and transparency.

Any investor, that is, the lenders, should know that in the foreclosure process, there is the opportunity to acquire bargain property -certainly a valid reason to agree to short sale. - 23212

About the Author:

Know about short sale an alternatives to bankruptcy or foreclosure only at Don Burnham's website http://www.weknowthewayback.com. Visit today to know all about short sale!

Protect your Forex Investment with a Forex Broker

By Bart Icles

FOREX is popularly known among investors as Foreign Exchange Market. It offers many advantages compared to other investments like stocks and futures trading. Knowing where to start is important for every newcomer to the game, so it's vital that learning Forex basics should be on the first list of things to do before anything else.

Not long ago, Forex was limited to large players of the market, e.g. banks - national and central, being a few of them, then the multi-national companies and investment firms. By the 80's the rules changed, allowing much smaller and independent investors to join in using margin accounts. It's this reason why Forex trading has become as popular as it is now. With a margin account, any one can control of large amounts with only a small sum as an investment. An example would be: if you have a $1,000 investment, you can control $100,000 in a 100:1 margin.

Forex trading is a volatile and unpredictable market with many risks and pitfalls to be encountered. Learning all the most basic to the most advanced subjects pertaining to the market may not be enough to keep one's investment in one's pocket, but may serve well as a solid foundation to build a successful career on. Experience, confidence, and a sound trading system are also some of the other essential elements to have when involved in currency trading.

One other such good move would be to open a Forex account with a certified Forex broker to handle your trading for you. Most Forex brokers are associated with large financial institutions, and are duly registered as a Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC). This greatly reduces most known risks and other negative factors if you go with their services. But, then again, always do the needed research on them, as well as getting solid referrals, just to be on the safe side of things.

Most beginners are often advised to practice trading with "paper trades" for a relative period of time. This exercise lets the newbie get properly acquainted and accustomed to all the Forex activities, and how the system works in general. Majority of online brokers offer these demo accounts free of charge which form partly with registering an account with them. Most of the software programs are the generic kinds and are common to all Forex brokers. Again, research is vital to know that the programs being served by such brokers are suited to the type of trading system you are planning to use or are already using. Be sure to ask whether or not program updates are free or come with a price. - 23212

About the Author:

Making forex trades starts with a desire to learn and a drive to become a great trader. Learning to day trade forex takes dedication and a good teacher. But once you learn how to trade and do so successfully your life will change and you have options and financial resources you never had before.