Your Financing Strategy
Ask questions from your bankers which of one these will benefits you most and which one could be costly to you. You can also get free checks when you open your account, you do not need to pay for checks. All checks are processed the same way that is up to you and how you manage your money.
-Savings Accounts: Custom Savings, Money Market Account Checking Accounts: Economy Checking, Express Checking, -Regular Checking, Senior Checking, Student checking
-Your Debit/Visa Card to use for shopping could be free when you open your account, make sure you ask for it, at times they will ask you if you want one or not. Where you use your Debit/Visa Card to withdraw money matters to your bank, it could cost you for using it at the wrong places, ask your banker for information where you could use your card without paying extra charges...
Some banks charges between $1.00 up to $3.00 if you use their card to withdraw money from another bank that they do not do business with. It is your money...
Each one of the above has advantages and dis-advantages, be careful when you are opening your accounts; you could loose money to the bank right away. You also need to know if your monthly statements are going to be free or not, when you make inquiries, the bank could be charging you for too many inquiries. Some things are free from the big banks and something's are cheaper from the community banks.
Basic Requirements for lending you money:
· Savings and Checking Account
· (2) Good Credit or No Credit it depends where you are getting the money.
· (3) Collateral such as your House, Car, Boat, Gold/diamond or any valuable assets they can hold on
· Driver's License,
· Social Security numbers
· Good Employment, at least for six months.
Lenders Information:
Big Bank requirements-
Can be very tough to meet because they have to abide by the 'Federal Reserve Bank or Federal Deposit Insurance Corporation (FDIC)' regulations. They got their money from the Federal Reserve Bank at a lower rate, however, they could turn around and loan it to the smaller banks at a higher rate, and the smaller banks loan it at higher quote rate to the public.
Community Bank requirements/Credit Union:
Well, the community bank is no different either, they turn to the big banks to borrow money at a lower rate so that they can loan it to their customers/clients at a higher rate to make some profit to stay in business.
Private Capital market requirement:
This is where the business gets tougher. The Capital Market enterprise is a big boy on the Wall Street, where they can finance just about anything they like, because they are not being regulated by the government, it is an individual rich businessmen that have money to loan out at a higher rate. They are not required to follow financing rule rigidly as the bank does, but they still have follow the consumer law that protect all of us from being taken advantage of.
Family friends requirement:
This one is your best source of financing, if you could find a rich friend or family friends that can loan you money without any attachment or collateral. They may ask you to pay them some small interest, or none it all depends what you are using the money for, at they would like to get a piece of the apple when they know you are going to make a lot profit.
Collateralization:
There some companies out there that would loan you money to meet your emergency needs, but becareful, they may ask you to give them your house, car, motor cycle or any of your valuables for collateral just in case you were unable to pay them back, but, they are very quick to take your valuables and you may not have any re-course to take them to court for doing so. I would stay away from such financing unless you have to...
There is going to be a time when we are going to need finance or re-finance our mortgages, car, motorcycle, big boat, air-planes etc., that we cannot come up with up-front lump sum money to pay for it This force us to turn to our bank, family friends, private capital market, small loan companies to loan us that money. This is where we are being taken advantage of by offering us some sort of un-affordable rates. At first you would think this a great opportunity that it will not be problem, you could afford that payment being offered to you by your lender, you better think again before you sign that dotted line. They could be collecting interest from you money for long time without any of it going to your principle.
Pay attention to dotted Line and Small print in the loan documents:
The loan documents can be very tricky to read when you are not an attorney, the small fine prints areas are very important areas to pay attention to, because this is where they hid rates, timeline, and warrante, but if you don't pay attention to the rates they quote or offer to you in the loan document that you are going to sign you could be losing a lot of money. You probably better off to take to your attorney before you sign the dotted line.
In the fine print of the loan documents is where they hid most important information that your lender did not want you to know about, especially mortgage and credit card documents. It sounds strange, but it is true, If you don't believe what I said here in this document, go to your loan documents and read the small prints in there you may find out something that you would not like to see or hear about, or if don't believe what I said here, ask yourself a question of why didn't they just print the whole loan documents in a readable format with nice fonts that an average third grader can read and understand it without having to scratch their head or look up words in the webster dictionary for interpretation of words, after all you are the consumer paying them for this services and they will be collecting interest from your financing for such a long time. 95% of mortgage homeowner never gets to the point of paying principle or their mortgage finance off before being taken away from them, but the bank or private investor already started to benefit. Yes, I understand they took the risk to finance us.
I think what is fair is fair, they should make the loan documents more readable for us, and there should be no small prints that is had to read on any loan documents. They should be in a readable format that average Joe can understand; my question all the years was why are they making it so complicated to read if they do not have anything to hide? I also think the loan documents should not have so many pages when we are talking about saving the threes... Not too many consumers read all these pages, it has no value to have so many pages when no one really reads it, of course the attorney will not be making money if they these document could be reduced to minimum.
My solution to this big fat loan documents should be to reduce them to minimum, all it should it be contain is, who own the house, the rate, how long is going to be paid, warranty, borrower's and co-borrower, and all other very valuable information it should not be more than 10 pages long.
Poppy, Konspirasi Bintang Baru Amerika Yang Hidup Ibarat “Jelmaan Illuminati”
Getting Un-Frustrated With Your Finances - What Separates The Successful From The Un-Successful
What if you would have been "in the know" and purchased Apple stock, going green, bottled water or gourmet coffee years back when they were little known stocks or concepts- where would that investment have put you today? This information I am about to share with you will affect your Economic Situation tremendously. This will be some of the best time that you have ever spent, really taking a good look at where you are at today, and where would you like to be, and is there a difference? There are many paths you can take in life and depending on which one you take will lead you where you want to go. Where are you at currently in your life? Do you have a job that you like or maybe one that you do not like? Do you maybe not have a job, are you retired? Do you have a good business? Are you making what you really desire? Because if you are here you probably are a person who is looking for more. Now, the difference between this guy, many of you may have heard of Bill Gates before, and this guy- homeless, out of work and living with his family out of his car, is nothing but a couple of decisions and a few skills. First, Bill makes decisions and acts on them. Bill has made a couple of different decisions and has some different skills. What we've learned about the economics in this country and in the world today are that most people are following the wrong plan, making the wrong decisions, and don't have the right skills. Like a golfer, he is still playing with a golf club and a golf ball on a golf course BUT when you learn to adjust your swing just slightly you now get to win the championship. That's what this article is all about, teaching you that slightly different swing, or the different little grip, that makes all the difference. So, while you are reading I want you to take a few notes, write down a couple of things and see how this will benefit your life. There are three major challenges in the world today: lack of income, debt, and poor wealth building strategies. Now the point of this company is all about educating people with how to change their financial situation. There are three things that ALL wealthy people know- first, how to create income, how to eliminate and work with debt, and third- wealth strategies of how to get ahead so once you have money you can actually create a legacy in the future so this call is about all three of these things whether you have a great job, whether you have a business, whether you currently have debt or no debt at all, have credit or don't have credit- this presentation is about you. So have your pen and paper ready. A couple of mistakes, a little too much debt, and the average Joe winds up closer and closer to the homeless guy. The job market today is not overly promising, consumer and national debt is at an all time high, foreclosure rates are out of control and divorce is also on the rise due in large part to money problems. The average person works very, very hard but doesn't get ahead by working hard because unless they learn some sort of level of leverage they are always going to have to work very hard. Let's take a hairdresser for instance- they make $60K a year and gets into a little accident or something happens and for some reason can't work for a couple of months- so for those two months they live off their credit cards and that can create a $10K decrease yearly in their income over 3 years. Debt comes from necessities and from non-necessities. Some people wind up in debt by just paying your bills, or by trying to get ahead or even one poor decision, having an accident or credit problem. It's not just about purchasing things you couldn't afford. It's that you needed that money in the first place. The first way to get out of debt is A- to make more money but B- imagine not having to pay all of that off, by starting to learn how to make your money work for you and grow it to long term wealth. How many people out there do you believe would like to get out of debt, become wealthy, and be healthier- to be in better shape mentally, emotionally and physically? The answer is, almost everybody. If you have children you are going to want to educate your children on this. You can save your family and friends thousands of dollars year- not all at once but yearly by knowing this. The average person is at least $3600 in credit card debt and with interest if you pay the monthly minimum it will take 5-9 years and you will pay a total of at least $5-7000 or more. We can show you how to pay this off in 1-2 years instead of 9. Imagine how much savings that is for you that equals into cash- even if you fill your mattress with it, put it in the bank or even invest it. You have just increased your income by knowing how to pay your debt correctly. Ultimately the question is up to you, which guy do you want to be? We live in excess and if we don't learn how to control that excess, we will never end up with any excess. That is one of the problems in the world and it's not getting better you are a part of that problem and because of that your children will be riddled with the same problem and get messed up and living in financial ruin before they ever get started- they will be the next generation of the homeless. Here is the solution. Successful people work on the three things we have just discussed. If you do these three things it will change your life. So once again, what does separate the successful from the unsuccessful? What separates them is the ability to decide. Wealthy people are able to make decisions rapidly where as the average Joe takes their time and some people make no decisions at all. Wealthy people decide and act. So whether being more successful, getting out of debt and being more healthy is for you or not- the big question is will you decide to take action and get ahead in any economy so you can get your finances where you want them and leave the legacy you truly desire. Terri Shy Wealth Masters International M3 Elite Master Consultant Professional Network Marketer
