?Credit Repair Form Letter ??" Good to Use or Bad to Use?

By William Blake

There are form credit repair letters all over the internet. They can be helpful if you find yourself needing to correct an error on your credit report or you are being harassed by debt collectors who are constantly calling your house. It is a stressful thing to have to deal with credit report errors or debt collectors. You may not feel that you are able to write an effective letter under such a stressful situation. Should you turn to the form letters on the internet for help?

Warning Signs

If you enter "credit repair letter template" into any search engine, you'll come up with literally thousands of free templates for you to choose from. Or, should you ditch a template entirely and go with copying the FTC's recommended credit repair sample letter up on their website?

When you are trying to choose a form letter to go by there are a few warning signs to look for of letters you do not want to use. For example, if a letter is threatening you do not want to use it. Words like, "if you ignore this letter I'll sue" or "you better stop harassing me" are phrases to be avoided. If a form letter contains statements like these keep looking. You do not want to send this type of letter to a credit bureau or any of your creditors.

Another warning sign is sentences in phrases written in all caps or sentences ending with an exclamation mark. This is not a professional way to write. It is like screaming at a person and that is anything but professional. If you send a letter like this you can expect that your letter will be ignored. It is disrespectful and therefore will earn you no respect.

Overwhelmed by Your Choices?

If the form letters intimidate you and you just can't decide it may be best to write you own letter. If you are going to do this remember that you want to keep the letter short. Be direct and respectful. Briefly explain what the letter is and your purpose in writing it. If you have a friend, an accountant or other financial expert that you can talk to, get some advice about how to write the letter.

Write the letter as if you are writing it for someone else and you are not personally involved. You do not want to show any emotion ??" anger, fear or frustration. Just state the facts as clearly and briefly as possible.

About the Author:

Tire of struggling to keep up with your credit card debt? Get some simple credit card tips on the Debtopedia website. Get a free copy of my report "Secrets Of Credit Card Debt" at http://www.debtopedia.com

Fixed Rate Possibly Better than Adjustable in Reverse Biz

By Matt Vanrock

At this time last year, if a senior was to ask me which was a wiser option, the fixed interest rate or the one that adjusts, my response to him would (in almost all cases) have been the latter.

That opinion is changing as the investors in Reverse mortgage backed securities continue to clamor for more and more profit out of these loans.

The margin that banks and their investors needed was at approximately 1% at this time last year. Go ahead and liken the "margin" to "profit margin". It is the profit in the loan.

To help you understand in a real life example. Let's say a year ago a borrower used an ARM with it's index equaling 1%. The lender adds on 1% for its margin. Add the two together and you arrive at an actual interest rate of two percent.

Well, margins have been quickly changing. They went to 1.5% by the spring of last year, and changed to 1.75 about 3 months ago.

What do you know, Fannie Mae just informed us a new price change is coming. The margin is expected to rise at least 1/2 point in the coming days.

There are many reasons why the ARM is such an attractive reverse mortgage option. In fact I wrote an article dedicated to it, but these changes are cutting into the weight of my arguments.

One example is if the borrower cashes out all or the vast majority of the total a possible loan immediately.

Let's say the lender will allow the borrower to cash out a large number like $200,000. If the seniors takes it all the fixed may be better than the ARM. The reason is the fixed rate is roughly the same as the fifteen year average for the ARM.

Although the adjustable is still extremely low right now one can expect it to go up in the coming years. We can't expect these low rates to continue.

One other benefit to the ARM over the fixed was that lenders were giving substantially more money on the ARM. This number is not nearly so profound today.

Formerly, the adjustable gave the senior much more money. No longer. It's almost a wash now. With the new higher margins the fixed might even get the borrower more than the adjustable.

The fixed rate was the ugly sister in reverse mortgages. This is changing.

About the Author:

Inform yourself at the Texas reverse mortgage guide website. Also, ground yourself in fact by heading to the Texas reverse mortgage website.

Refinance with a Leading Arizona Mortgage Company

By Brent Mackelprang

Why wait? Why not refinance today for less? Mesa Mortgage a leader among Arizona mortgage companies wants to know; what's stopping you from refinancing today? With the current talk of a struggling economy and concerns about finances, this is the time to refinance. Why is it the time, you may ask? Because as a well established Arizona mortgage company, Mesa Mortgage is afforded the opportunity to not only assist you in your refinancing for less, but they're also able to give you rates that are lower than the national average! Other companies simply can not offer this kind of security in these tumultuous times.

Since Mesa Mortgage first opened its doors it has aimed at becoming one of the most respected and trusted Arizona mortgage companies! Mesa Mortgage has been able achieve this by setting the standards of the industry by providing unsurpassed commitment to customer service. Mesa Mortgage is determined to make sure all of your mortgage and refinancing needs are always and properly attended to.

Often home owners feel refinancing is the only option they have and sadly, there are some Arizona mortgage companies who view this as a chance to persuade people to refinance even if it is not necessary. At Mesa Mortgage, our goal is to answer your questions and assess your situation to make sure refinancing is really your best option. And if refinancing is the best option, Mesa Mortgage, as an established Arizona mortgage company can do it for less.

Often individuals allow themselves to talk themselves out of refinancing when in all actuality refinancing is the best thing for them. Whether its concerns about interest rates, monthly payments, a lack of steady cash or another concern, it may be tempting to avoid refinancing even if it truly is the best thing to do. Mesa Mortgage will help you determine if it is the best thing to do.

As a leader among Arizona mortgage companies, Mesa Mortgage helps potential home buyers get into a new Arizona home more affordably and quicker. With the many reasons to pick Mesa Mortgage you will also find that Mesa Mortgage offers lower payments and lower rates. Plus, Mesa Mortgage's loan program determines the loan that will properly satisfy all your needs.

Mesa Mortgage has made applying for refinancing or for a loan simple by making the application available online. By taking advantage of the online application you'll get quicker processing and the most up to date information.

There are a variety of loan program available from Mesa Mortgage, programs that truly distinguish them from other Arizona mortgage companies, including Challenged Credit loans, Second Mortgage loans, Jumbo loans, investor loans and more.

Among the many kinds of loans you'll find at Mesa Mortgage, some of which other Arizona mortgage companies do not offer you'll also find Construction loans, Investor loans, FHA Mortgage loans, VA Mortgages and more. And Mesa Mortgage proudly offers the most competitive and appealing rates on all of their loans.

About the Author:

Looking to Refinance your home? Choose an Mortgage Company in Arizona with rates that are always less than the national average!

Buying a Home with Reverse Mortgage WAS a Great Deal

By Veagure Vanrock

At the end of last year, I received notice of a couple surprising facts from the Department of Housing and Urban Development. The first was that a reverse mortgage could now be used to buy a home.

Prior to this notice, using the reverse mortgage as a means to refinance was the only option seniors had.

Now they can actually use the reverse like a forward mortgage. The difference being they don't make payments. Certainly a delight to many seniors.

The other part of the letter that was amazingly good, so good I had to read it three times to make sure I wasn't seeing things, was that the loan would be based upon value rather than sale price.

While the lender will take various things into account, the most important is the value of the house as determined by the appraisal.

The mortgagee letter stated basically the same thing for home purchases. What you should understand is home purchase mortgage loan to values are normally based upon the sale price or the appraised value, whichever is lower.

That makes more sense, doesnt it? It couldnt be as easy as simply based on home value.

Say the loan was just based on value alone. If that were so, and a senior discovers a steal of a house running at forty percent below and nabs it, at closing time, hypothetically the borrower would owe nothing.

The Dept. of Housing and Urban Development doesn't just give things away. They arent considered strict by any means, but they want to make sure that there is a down payment. The senior must give something in order to get something.

Wouldn't you know it; HUD has come around to this fact. The rule that was so good, is now gone. HUD reverted back to the conservative policy.

As a lender, I find it unusual how long it takes to get these Housing and Urban Development letters. I would expect them to have a myriad of attorneys checking these things up and down.

And yet, I received this just a couple of months before the change took place.

In summary, the official basis of the reverse loan, when used to buy a new home, will be the lesser of the price or value.

About the Author:

What the heck is a California reverse mortgage and how you benefit and may be hurt, go here. Or surf over here for fact after fact about the California reverse mortgage

How to Maximize Your Time with a Credit Counselor

By Steve Collins

Seeking the services of a credit counselor is a smart way to find a solution to your financial problems. An experienced credit counselor has a full arsenal of suggestions and strategies to help you in making the most of your income and modify your spending habits as you work towards reducing and eventually eliminating your debts.

A key to exploiting your time with a credit counselor is to have certain pieces of information in hand prior to your first meeting. Being ready will help you both avoid wasting time on activities that could have easily been done on your own such as making a list of your expenses and income.

The first thing a credit counselor will ask you is how much you make and how much you spend. The answers need to be precise so that your counselor can help you work out a budget that is actually achievable. As any good credit counselor will tell you, its easy to underestimate how much money youre actually spending every month, so dont merely estimate it. Take a moment to look over a few months worth of bank savings and checking account statements and all of your credit card and store card statements. Try to use the average of at least the last three months to get as accurate a picture of your true spending habits as possible. This is exactly the kind of information your credit counselor will rely on to give you the best help he or she can.

If your income fluctuates because youre self-employed, work on commissions, or get bonuses from time to time, find an average for the last 6-12 months. Again, this is a more accurate picture of your true income numbers, which will greatly improve your chances of maximizing your time with a credit counselor. Having this information in hand before your first meeting with the credit counselor will mean you can move on to the advice portion of the meeting much faster.

Finally, it is a good idea to write out any and all questions that you may want to ask the credit counselor the night before your meeting so that its still fresh in your mind during your session. Remember " there is no such thing as a stupid question when it comes to finding ways to improve your financial situation!

About the Author:

Steve Collins is a writer and journalist. In these trying times, he knows the importance of obtaining effective debt solutions if necessary. Read his article about debt solutions here.

Individual Bankruptcy

By John Drews

If you are in a situation where you realized that you have debt collector on one hand and the inability to repay the debts on the other, it is easy to see that you are between a rock and a hard place! Especially in today's economy, where staff are getting laid off. To a number of people, Bankruptcy is an option that is weighed. If you are considering filing for individual bankruptcy and when you are thinking about getting a fresh start, you need to find that there are a lot of issues that you want to look at.

First thing that you need to understand when you are looking at recording Individual Bankruptcy is that the U.S. Bankruptcy Code had been adjusted and revised back in October, 2005. These changes made it hard to file for bankruptcy, and there seem to be a need to hire a lawyer to help you out! If you want file for bankruptcy, and you need to make sure that you are in a position to get the right results from the whole process, make sure that you go to a good local bankruptcy lawyer who will give you a good help of how to continue and how to make sure that you are going to receive the outcome that you are after.

These are important Bankruptcy Assistance that you need right now.

When you are getting ready to arrange for individual bankruptcy, remember that you would halt and think about organization. Almost every piece of paper that has to do with money on it will need to be presented, the items can be from bills to receipts to copies of loans. Putting these together and organizing them will allow you and your lawyer a much clearer appreciation of the situation and what may be the good way to progress.

When you are in a place where you want to go forward and when you want to make sure that you are will be getting the desired results that you need with your financial state.

This is a big measure to take, and when you are looking at sorting out what has to happen, remember that the more knowledge you have on the process, the better equipped you are going to be!

About the Author:

If you are thinking of file for Individual Bankruptcy, perhaps you do need some help. Go to our website for more information on bankruptcy and how you can move ahead in life even with bankruptcy

Talking Your Way to a Better Remortgage

By Troy Cruz William Engle Dawn Khoury James Nissen Robert Hill Chris Laning Janet Taylor Jack Enders Bruce Gross Rick Bean Keith Wood Ray Johnson Alex Velez Juan Hines Paul Holtz Kenya Rios Peggy Dye Lucas King David Hebert Karl Howell Jarrod Lucky Ruth Coats Doris Lund Ryan Hudson Henry Bush Lonnie May Arlen Bell Wanda Kuebler Kevin Stiles Nick Horton Jorge Pina Frank Vera Chad Copp Fred Brod Jose Cruz Jeremy Stanley Mark Jones Kelly McMahon Barney Bernard Ailleann Alan

It is undisputable that finding a good remortgage deal for your house is going to be a difficult task to do. Finding a good deal is probably going to include you bargaining your way into it. If your goal is to get the best deal possible, you are going to have to plan on following these tips and bargaining to get the best mortgage possible

Investigate your current situation. You need to know exactly what your current rate of interest is and how much you are paying on your principal and how much you're paying in interest every month. This should be pretty easy to figure out, but if you're unsure, there are a lot of calculators on the web that can help to figure out how much you're spending and how much your mortgage is actually costing you. Once you figure out how much you are actually paying in interest, you're going to realize how important it is to get good at negotiating.

Next, you're going to want to meet with a couple of banks. When you're looking at remortgaging your house, you're going to want to think of the first bank that you meet with as a practice bank. Use this bank to test the waters and see exactly how much you're going to be able to negotiate. You don't want to use the best bank as your first bank. Remember, you are practicing and using this opportunity to do a bit of research, and hopefully you're going to be able to negotiate better with the future banks that you talk to.

Look at your offers. Now that you have seen several different banks, found out what their best deals are and tried to talk them down a bit more, you are going to want to show them what you got from the other banks. Use the other banks quotes to see if you can drive the fees or interest rate down even more. You may find that they will match the best bank's offer and throw in something extra to beat it. Banks are going to want your business, especially if you have good credit.

Put on your game face. After going to a remortgage appointment, the loan officer will often call you to try to convince you to choose their bank. Tell them that you are still looking into other banks and watch the interest rate drop even more. The first time they call they might offer you a slightly better deal. By the time they have called three or four times you know that they have given you the best deal that they are going to offer. Put on your game face and get a better deal than you originally bargained for.

If you aren't prepared to do the research needed and talk to several banks than you aren't going to get the best remortgage deal out there. If you don't want to do it, ask your husband or wife to do this work for you. By talking to banks and convincing them to give you a better remortgage deal, you are going to save tons of money.

About the Author:

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Caring for Your Family Once You're Gone - Estate Planning

By William Blake

Your retirement is one of the most important things you will ever plan for. It means enjoyment and peace of mind for you in the future. However you want your family to have that same peace of mind even after you are gone. Sometimes it is difficult to think about death and leaving your family. But it is important to be financially prepared so that in addition to the grief they feel over loosing you your family is not overwhelmed with funeral expenses and other costly financial obligations that you were not fully prepared for. So in conjunction with planning for your retirement it is good to also think seriously about your estate planning.

Retirement planning takes a lot of time and effort. When you throw in estate planning on top of that some people feel overwhelmed. It does require quite a bit of work on your part to determine what you have and how it will be distributed and as you develop a financial plan for your estate. But caring for your family's future needs is worth the effort.

A Working Plan

Once you have accounted for all of your assets it is time to put a good estate plan into action. There are certain things you will need to consider:

- List your beneficiaries

- Make a note of what each beneficiary will receive

- Come to an decision on whether the assets will be distributed by a trust or in a lump sum

- Determine what you will do with a vacation home, second home or a business

- Gather your family together to discuss the details before making any decision

Never hesitate to plan your estate because you are unsure of what you want to do with your assets when you are gone. Remember that any plan you make can be adjusted if necessary. What is more important is that you begin to get things on paper and put some sort of plan into action. As you family's needs change or as your circumstances change you can revise your estate plan. Even if you feel you have very little to distribute in your estate it is best to set out on paper how you would like it handled to save your family from having to make those tough decisions.

About the Author:

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Help If You Have Less Than Perfect Credit

By Linda Kay Holt

The market for bad credit loans is growing every day. The economy has forced many with pristine credit records to seek alternative lenders for loans. Bad credit lending has become big business.

Since these private companies are taking so much risk in lending cash to somebody who is supposed to be not eligible for more conventional loans, they are in position to charge more for their loans. This is why you will hardly find any which will allow you to negotiate their interest rates to more affordable rates.

For the person who badly needs the loan, these bad credit lenders are their only options. Use caution when applying to the numerous bad credit lenders. Many charge for the right to make an application. It is therefore important that one should not dive into the first offer that you get. It could be absolutely devastating to be in a pit of debt and be scammed. So, a thorough research of the company background should help.

Getting new loans from bad credit lenders is possible. It will require some diligence on your part. Be prepared to provide more documentation than what is typical in a traditional loan process.

Lenders know you have less than perfect credit. They will however want to now why. That will have to be provided in a explanation letter. You may have to write several of these letters.

It is likely that you once had good credit and circumstances change in life. Lenders just want to know, you will pay your bills again. Given proper documentation lenders are more apt to provide a loan.

You will pay more to secure your loan, but a good payment record over time will allow you to refinance at some point in the future to get that lower rate. Do not expect those lower rates you have seen advertised. Those rates are reserved for those with pristine credit.

One year of paying your loans on time is all it takes to restore your credit history and insure that you can qualify for more loans in the future.

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Take the time to so proper research on Bad Credit Lending and check reviews on Bad Credit Lenders

Lower Interest Rates On Loans Mortgages

By John Bear

Most people have loans mortgages. Many people have loans for cars or loans just to get by. But now, it is possible that you are now able to reduce the interest you are paying on that loan. It may be that the interest rates for the loan you took out have simply dropped or you may have a better credit rating from when the loan was taken out and now qualify for a lower interest rate.

Spending some time looking into this matter could save you a significant amount of money especially if a loan is over a long period of time. Talk to your mortgage or loan company to see if this is possible or consider refinancing your higher interest loan with one that has a lower rate, this will help reduce the monthly payments and possibly leave you enough money at the end of the month to pay off a lump sum or to end the loan earlier than you may have thought possible.

Second, read the loan's terms and conditions and ensure that when you save enough money to pay off the loan earlier, you will not be left with an early settlement fee. You can search for important matters such as this on the phone, Internet or having a one-on-one talk with a financial advisor.

You can also compare terms and conditions and make sure you are one hundred percent happy before taking out a new loan or refinancing an existing one.

As always, the credit score plays a significant role when you are to look for that lower interest rate so keep all your payments existing and previous loans up to date. But if somehow, your loan company won't offer you a lower rate, ask them why and what you can do to be considered on getting a good low rate.

You can also think about taking a zero percent interest free credit card and have the loan moved on to the credit card if your existing loan has a high interest rate. But do take note when the zero percent free rate will end as this can affect your rate of interest in the future.

Never forget to check that the handling fee, which is charged by the credit card company, will not supersede the savings that are made by moving the loan across.

Just remember that even if the interest rates on a variable rate mortgage appeals to you, the rates of loan mortgages can just go up or down, so be prepared for that. Fixed rates may provide you security thus giving you confidence to think that you will not be affected by a sudden increase in the interest rates of loans mortgages, but before knowing it, you have already been paying more than you think.

About the Author:

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Do You Know Your Tax Deduction Limits?

By Judd Nathaniel

Some taxpayers with simple tax returns may not have to worry about tax deduction limits. However, most taxpayers will have tax deductions that will require them to know what the tax deduction limits are so that they can claim the most deduction on their tax returns. After all, the more tax deductions they can claim, the less taxes they will owe the IRS.

Some people who are new to tax filing and tax planning may not even know what IRS deductions are, let alone what the tax deduction limits are. IRS deductions are tax deductions that the IRS allows taxpayers to take for qualified expenses. These expenses are called tax deductible expenses and they are subtracted from the gross income that the IRS uses to calculate taxes that a taxpayer owe them.

Most of the time, taxpayers want to claim as many IRS deductions as they can and knowing the tax deduction limits will help them. However, not everyone can claim tax deductions and not every expenses are tax deductible. Therefore, it is important to learn the tax codes to know what are tax deductible and what are not so that you can claim the most IRS tax deductions possible.

Some people think that IRS deductions are the same as tax credits and the tax deduction limits are also the same as tax credit limits. They are not. A tax deduction simply lowers taxable income for a taxpayer whereas a tax credit gives the taxpayer money directly. If there is a choice, taxpayers often prefer tax credits than tax deductions because tax credits save them more money than tax deductions do.

There are many types of IRS deductions and they have their own tax deduction limits. For most people, it is easier to take standard deduction rather than itemized deductions. Most people are entitled to claim the standard deduction which is a set amount allowed by the IRS. If you are qualified to take the standard deduction, you can just check the box that says standard deduction on your tax return to claim it.

When a taxpayer is not eligible to claim the standard deduction, he or she will have to claim the itemized deductions and pay particular attention to relevant tax deduction limits. The taxpayer, of course, has the option of not claiming anything at all but most of them do to lower their tax bills. Each tax deductible expense will have a limit of how much a taxpayer can claim in tax deduction.

The bottom line is that by knowing the tax deduction limits, taxpayers can make an informed decision about whether to claim the standard deduction or to itemize his or her tax deductions if he or she is eligible to claim both. There are many books, IRS publications and websites that will give details of what the tax deduction limits are for different tax deductions.

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Looking for additional information about your tax deduction limits? Visit us today at the IRS deductions Organization for answers to your questions along with free resources and tools for you to use this tax season.

What to do with my 401K when I switch jobs or retire?

By Frank Dodd

You will hardly ever find a person that stays with the same company of employment for the entirety of their career. In fact, more than likely a person will change jobs and companies several times during their life. Since the majority of companies offer a 401k retirement package, these people that change companies may end up holding multiple 401k accounts under their name.

What should you do with your 401k fund after switching companies? You might look into a 401k rollover to IRA.

Rolling your 401k fund into an IRA can be beneficial in multiple ways. I'll briefly discuss a few of them.

For starters, imagine someone who changes companies 3 times in their life. That would leave them with 3 401k's from their previous employers and 1 from their current employer. That can get really messy for you. That means you would have 4 times the paperwork to keep up with and monitor to manage your portfolio the way you should. If you are like me, that extra paperwork may cause you to be lax in managing the account and could lead to financial ruin in your retirement years.

Transferring your 401k to an IRA will allow you to consolidate your retirement funds and reduce paperwork therefore making it easier on you to manage and make good decisions for the well being of your financial future. You are able to roll multiple 401k's in to one single IRA. So the person from the example above would only have to deal with their current employer's 401K and one IRA. Much better no?

By leaving your 401K plans in the management of your previous employers you also increase the risk of losing your retirement savings. Those companies may go under and leave you with next to nothing. But rolling over the accounts all into your personal IRA with a financial institution reduces your risk factor a great deal.

And the ultimate benefit is that you leave yourself in control of your own future instead of having others do it for you.

But I still recommend that you take advantage of the 401k options your current employer offers. Strive to contribute the maximum amount that they will match because doubling your investment is always a good deal. Then if you are able to contribute more than the maximum, put the extra in your IRA.

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find out how to do a 401k rollover to ira