Self-Directed and Real Estate IRAs - Top 10 Reasons to Start One Now

Both IRAs have been permitted by the IRS for years, yet is seems that very few people know that they even exist. Quite simply, a self-directed IRA is one that allows an investor to hold non-traditional assets (like real estate, limited partnerships, general partnerships, private stock and more). This opens up a world of investment possibilities beyond the common stocks, bonds and mutual funds within most retirement plans.

Real estate IRAs are a specific type of self-directed IRA that may only hold real estate. Some IRA custodians prefer to handle only real estate transactions and holdings and are an excellent option for those investors seeking to maintain some traditional holdings in their current retirement accounts and diversify in a separate account with real estate.

Here are 10 reasons, regardless of the economic climate, that you should consider establishing a self-directed or real estate IRA today:

1. Most IRA custodians and employer-sponsored retirement plans limit your choices for investments. With a self-directed IRA, you can choose from a much wider array of investment possibilities from real estate to private stock and private notes.
2. Diversification is an important part of any balanced portfolio. Establishing a self-directed or real estate IRA allows you to diversify your portfolio in more ways than you ever thought possible.
3. For established or aspiring real estate investors, self-directed IRAs offer the opportunity to invest in an asset class they know and trust.
4. For those using a self-directed IRA to purchase real estate, you can use leverage in your IRA through non-recourse loans to acquire property (not possible in with IRAs that are not truly self-directed).
5. Self-directed IRAs can be established even when you already have an existing employer or IRA plan.
6. You can rollover a portion or all of assets from your current IRA plan into a self-directed IRA.
7. The ability to control your retirement in a way like never before through a self-directed IRA is very empowering to an investor. Finally, you have a choice of what you can invest in - seize the opportunity!
8. Contribution limits on an annual basis are the same for a self-directed or real estate IRA as they are for any other IRA.
9. You can establish a self-directed solo 401(k) plan, Roth IRA, Traditional IRA, Coverdell Savings account (Education IRA), corporate 401(k) or SEP IRA.
10. For those looking to learn more, visit InvestorLoft's Self-Directed IRA Learning Center

Read More

Unsecured Business Loans - Now is the Time to Invest

If you are searching for money to invest in your own business, then all you need to do is click Unsecured Business Loans.

Yes, it is as easy as it sounds. Now getting loans for running a business has become much easier than what it was till a few years back. Previously, lenders were pretty unsure about providing Unsecured Business Loans, especially to those who were just starting up their own little business.

But now the times have changed, particularly due to more and more lenders going online. With increasing number of lenders providing easy and quick unsecured loans, the competition has got stiff and it is getting stiffer with each day.

As a result You have a benefit here, as different lenders offer you with good offers and propitious deals. Different offers would have different good features -- easy and comprehensive terms and conditions, flexible repayment options, competitive rates. You can choose any plan that suits you best and meets your business requirements in the best possible way.

Unsecured Business loans, especially the short term loans, are ideal for a business. You can take such a loan in any of the following cases:
You are planning to start a business and you need money to set up and float the business.
You wish to buy tools and equipments, machinery and other assets for new or existing business.
You want to foray into different grounds with your existing business or set up a new business.
You want to expand the functions of your business.

The best part of unsecured business loan [http://www.apply-4-loans.co.uk/business-loans.html] is that you don't have to keep any of your assets at stake to act as collateral. The amount you can borrow can be anything in between £50,000 to £100,000 which you can repay in monthly instalments. The time of repayment can range between1- 20 years. However these things would be decided based upon your requirements, your credit history, and the necessary details pertaining to your business.

Having gone through all the procedures, which are again bare minimum to keep them trouble free, you can then get the money that you require and invest in the business as you had planned.

Read More

Student Loan Consolidation Information - How To Make Those Student Loan Repayments!

If you've got school debt and you're finding it hard to meet the monthly repayments, then you may have thought about where to get some student loan consolidation information.

Lots of people have problems paying their debts at some point in their life, and it's possible that a consolidation resource could help you.

But what's involved?

If you want some repayment relief, then consolidating it all may help you. This means that it will take your loans and bundle them together, and then you'll only have one monthly loan payment to make. You may even be able to get better student loan consolidation rates than what you're paying now.

Your loan term may increase as well. This means that your monthly repayment will be lower but the length of time you will be paying off your loan will be longer. But sometimes, that's the only way people can pay off their loans from school.

School debt can be annoying to deal with; sure, you needed the money while you were in college but now you're out there in the world trying to make your own living and with all your other expenses such as rent or mortgage, food, transport, utilities, savings and entertainment, it's not unusual to run out of money before payday.

There are many programs out there, but how do you find the best lender? Well, that's where you have to do your research and shop around.

By studying the student loan consolidation information that's online, you should be able to find the solutions that are right for you.

So if you think that a consolidation program would help you meet your monthly repayments, why not start right now and start shopping around for the best student loan consolidation rates? Armed with the right student loan consolidation information, you can make the right choice.

Read More

Get Approved For a Fresh Start Loan - Bad Credit Welcome

There are millions who have bad or poor credit scores and less-than-attractive credit files. There are millions of people who have bad credit, and many reasons that they their credit has gotten in the shape it is in today. For some, an illness or injury may have resulted in job loss; others may have just went through divorce or have been laid off from their job unexpectedly, and still others have made mistakes in the past by not paying their bills on time. Whatever the reason, you can bounce back from a bad credit history and build up your credit file regardless of what the numbers look like right now. Yes, you can get a fresh start!

In fact, many creditors welcome bad credit borrowers. They realize that there is an entire sector of the population that can be helped by offering a second chance to those who have learned from their mistakes.

When applying for a bad credit loan, it is important to know there are limits. Most bad credit loans are just test loans that creditors use to give you a chance to show them that you are credit worthy. By taking out a bad credit loan and fulfilling your obligations by paying it off on time, and in full, you are demonstrating your new-found ability to handle financial matters. This will lead to the probability of being able to establish yourself for loans in greater amounts that are less expensive because they have lower interest rates. Yes, bad credit loans are the best first step to rebuild your damaged credit.

Where Do I Start?

There are many wonderful online lenders who specialize in financing products for those with lower credit scores. You may be asked to fill out a simple online application, provide some documentation (generally via fax or email) to prove your identity and sign some loan documents. One great advantage to using an online lending institution is the convenience of doing everything from the comfort of your own home - without the stern banker's discerning glare as you try to get money from a traditional lender.

What types of loans can I get?

The two best types of loans to get that can help you rebuild you credit are a bad credit personal loan and/or a bad credit automobile loan. Both of these types of loans are great ways to add points to your FICO score.

Bad Credit Personal Loan

A bad credit personal loan can be for any purpose - home improvement or remodeling, travel, education, or basically any other personal need. Most lenders do not ask what you will be using your personal loan for. You may qualify for these types of loans without a co-signer, but you stand a greater chance of getting approved for a bad credit personal loan if you do have a co-signer with good credit who will stand behind you and agree to pay the loan if you default. A co-signer can be a relative, friend, or anyone else who trusts you enough to believe that you will repay the loan. There are many lending institutions, also, that will release your co-signer from any obligation after you have made a certain number of payments on your bad credit personal loan - which makes the offer more appealing to someone who might not want to sign with you for a long duration.

Bad Credit Auto Loans

A bad credit auto loan is a wonderful way to help rebuild your credit score - not to mention being a great alternative to predatory buy here, pay here automobile dealers who charge sometimes as much as 300% markups on used vehicles. A bad credit auto loan can be obtained fairly easily because the lender will be holding equity in the vehicle by placing a lien on it until you have paid in full. Most bad credit auto loans have fairly reasonable interest rates with payment that fit your budget.

Read More

An Overview of the Striking Difference Between Secured and Unsecured Loans

In our journey for the search of the best financial options, at times we caught ourselves in a bewildered state because of the wide availability of options, the major ones being, secured and unsecured. Both the types of loan have their own share of advantages and disadvantages. Broadly speaking both secured as well as unsecured loans is a type of personal loan.

Now, let's explore both the types in this article and find out what are the differences between the two?

Well! Let's start with Secured Loans. Secured Loans, as the name suggests necessitates a security against the loan taken. The type of security required could be any, such as, home, shares, bonds, car, jewellery et al. However, the most commonly used type of security is the borrower's home. Going back to its origin, Secured Loans can be considered as the conventional type of borrowing. To put up an example, in yester years, people used to keep their land or home in order to take up a loan. The tradition has been followed till today.

There are a number of circumstances when Secured Loan counts as a better option to the borrowers. Let's discuss some of them: the major benefit of taking up a Secured Loan is the lower interest rate offered. With Secured Loans, you can also enjoy a favourable term. A Secured Loan helps the borrower to enjoy a high level of flexibility. Some lenders of Secured Loans even extends the period of repayment in accordance with the borrower's affordability.

However like any other type of borrowing, Secured Loan also has its own shades of disadvantages. The major one being, if you fail to repay the loan your assets may be repossessed by your lender. Secured Loans generally are restricted to home owners which at times turns out as a disadvantage.

Now, let's shift our attention to Unsecured Loans. After discussing the major advantages and disadvantages, it might come as no surprise to learn that around 90 per cent of all loans arranged fall into the unsecured category.

The reason being, Unsecured Loans do not necessitates any type of security, be it home or any assets. Unsecured Loans came as a rescue to the tenants and the home owners who do not have any collateral to offer. However, it should be remembered that since the lender faces a higher amount of risk in Unsecured Loans because of no collateral attached. The lender tries to compensate the risk by charging a higher rate of interest. This very feature of the Unsecured Loan turns out as one of the major disadvantages. Unsecured Loans generally fails to offer its borrowers the flexibility of extending the loan term which can be counted as a pitfall when compared to Secured Loans.

Whatever type of loan you might choose. Before selecting your option, you must weigh out all the pros and cons. It should be kept in mind that whether secured or unsecured, both the loans are meant to be repaid. So, make sure to understand all the features of both the types of loans. Compare the deals and after careful consideration choose the one that suits your requirements perfectly.

Read More

Deal With Your Student Loans Now!

As the economy continues its downward spiral, student loan defaults are becoming more common. This really is not all that surprising. What other loan can you get when you are unemployed? Student loans can be very stressful because the government is very aggressive in their collection efforts.

The good news is that even if you are struggling financially, the government has many programs to help make is so you do not fall into default. Let's take a look at a few!

Student loan deferment is when your lender agrees that you do not have to make a payment for a specific period of time. During this time, interest will not accrue and your credit will not be damaged. This is a great solution if you are in a situation where you cannot make your payment. You do have to apply and be approved for deferment, however. Things like going back to school, losing a job and health issues would all most likely be grounds for getting your loan deferred.

If you are not able to get your loan deferred, you may still be able to go into forbearance. A forbearance agreement is similar to a deferment with a few key differences. First, you payment may not completely go away. Depending on your situation is may just be lowered for a period of time. Next, you loan will continue to accrue interest during this time.

Another student loan payment option is graduated payments. This is where you have a reduced payment now and know that it will increase at some point in the future. This option is very attractive to students who have just graduated recently. They are just starting in the employment world and expect their income to increase over time.

But, what about if you are already in default? Unfortunately, these options are not going to be available to you. But, once you get where you can afford to make a steady payment, you can rehabilitate your loan. Basically, you contact your lender and let them know that you would like to rehab your student loan. You will then need to make between nine and twelve on time payments voluntarily. (Meaning that payments made through wage garnishment do not count.) After this time period, your loan will be brought back to a status of current and the fact that it was ever in default will be deleted from your credit file.

Read More

How to Get Started on Applying For the Loan Modification Process

Loan modification may be just what many home owners are looking for. A lot of home owners are behind on their mortgage payments. Some may only be behind 30 days. But 30 days can become 60 days or 90 days very quickly.

And then the bank starts sending the dreaded notices that if the payments are not brought current, they will begin foreclosure proceedings. The home owner begins feeling trapped and has no clue where to go or what to do. Let's see what loan modification is and how do you begin.

What is loan or mortgage modification? Loan modification means that the house loan is going to be changed so that the home owners can afford the payments better. This can involve adjusting the interest rate, the duration of the loan or other factors. Circumstances around each mortgage modification determine what modifications to the loan can be made.

If the rate of a mortgage has jumped because it is adjustable, then one option would be to make the rate fixed. If the home owners has been out of work for a long time but now has a job, then the amount that is past due may be absorbed back into the loan.

Now how do you begin? The first factor of how to start is when. With the current government programs, it is often best for the home owners to contact their bank as soon as there is trouble. Some lenders will wait until you are 30 days behind before they want to talk. But it never hurts to try sooner.

Another thing you need to do is find out who actually holds the mortgage on your house. Just because you make your checks out to ABC Company does not mean they actually own the loan. They may simply be the mortgage servicer. Call the company and ask for paperwork on who actually owns the loan.

How do you bring your personal situation home to the bank? Write a letter explaining how you simply got to this point. Again, be honest. In a brief concise letter, explain the full chain of events that has led you to this point.

And make sure who ever you are talking to is the correct person. You need to be speaking with someone in loss mitigation, not collections. Collectors are there to hound people into paying. Loss mitigation is there to help decrease or prevent losses for the company. Be patient. What has taken you months to get into is not going to be corrected and resolved in a day or two. Maintain contact with the person you are working with, but keep your cool.

And at the end of the day, be realistic. You are in a deep hole before you get to the point of loan modification. The hole may be deeper than the mortgage company is willing to help you out of. But keep pressing. If one person says no, another may say yes.

Read More

Bad Credit Consolidation Loans: How Debt Consolidation Works

People today are always doing what they can in order to pay off their debt and get back on their feet. However, this is known to take years at a time and will leave people with very little money to live with. Those who currently need help right now should think about applying for bad credit consolidation loans right now. These options are readily available for those who can qualify for them and use them in the best way possible.

With the economy as bad as it is these days, many people are losing their jobs, homes and their entire life because they are just drowning in debt. These loans have proven to be a very big amount of help and this is actually one of the most common ways to get out of some of that debt. The applicant will need to know what they need and will need to know who to get in touch with for the right amount of help.

In most cases, these bad credit consolidation loans are designed to cover all of the debt that the individual has. This is going to get all of the nagging creditors to stop calling and will help the individual get back on their feet and start living life on their own terms. Being ruled by debt can cause numerous problems that can trickle down and effect the entire family. Know the amount of debt that has piled up and determine how much of it needs to be paid the soonest before finding a lender.

Once the loan has gone through and the debt has been paid, there will only be one payment to make each month. This might be a larger payment, but all of the other debt is paid off so this will be easier to take care of. In fact, many people report that they actually have a lot extra money after the payments and can open up a savings for the future. This is a great feeling and helps to keep things a lot more organized.

The services that offer these bad credit consolidation loans will also help the individual come up with a brand new spending plan. Overspending is one of the biggest problems that people run into and some simply do not know how to stop. However, with the brand new plan it should be easy to stay out of any and all extra financial trouble The idea here is to continue to live debt free, not get out of debt and restart the process all over again.

Only the most reputable services will be able to help out with this process. It will be up to the applicant to figure out who to turn to. There are many different reviews that will show people who they can sign up with and have the most positive results. Look around and interview some companies to ensure that they truly have the best plan set out and ready to go.

Debt can pile up very easily and those who waste too much time are only hurting themselves and their personal credit score. Those who wait too long might not be able to get the amount of money that they need for their loan. This can be a bigger challenge so try to avoid this at all costs and find a service right now.

There are plenty of lenders that all offer bad credit consolidation loans and more. Those who are desperate need to start right now and need to stick to their plan. Pay close attention right now and make sure that the new life without bills and collectors calling is kept up for life.

Read More

Subprime Mortgage Lenders - Sub-prime Loans Now Available Through Traditional Lenders

Sub-prime loans are becoming more readily available through traditional lenders. Even with a bankruptcy or foreclose in your credit history, you can still find financing for the purchase of your home. The key to sub-prime mortgages is to do your research and compare both terms and rates.

Your Credit History

A poor credit history doesn't have to send you running to sub-prime lenders. For one, you may still qualify for an A loan, reserved for people with good credit. If your bankruptcy was four or more years ago and you have established a good payment history since then, your FICO score is probably over 600, the requirement for an A loan.

Through FHA loan programs, you can apply for a loan after two years of a bankruptcy or foreclosure. VA loans also look more leniently on past credit problems. In the end, don't assume that because you have an adverse credit history you have to apply for the higher interest sub-prime loans.

Sub-prime Mortgages

If you find that you do have bad credit, you can still work with a traditional lender, who may offer you better interest rates. As financing companies expand their financing options, more and more companies are adding services for B, C, and D loans.

Sub-prime mortgages are based partly on your credit history, but largely on your mortgage or rent payment history. You will want to provide proof of your rent payments by sending copies of your rent receipts or checks. Mortgage payments can be verified through your credit report.

Sub-prime mortgages are just short term financing options. Once you have improved your credit history, you can refinance your mortgage for better rates.

Sub-prime Lenders

When you start your search for a sub-prime lender, include all lenders in your investigation. Request quotes from traditional lenders as well as those who specialize in poor credit financing. Compare everyone's financing packages to find the best rates and terms.

Ideally, you want to find a low APR with no prepayment fees. Unless you plan to keep your mortgage for seven or more years, it is probably not worth paying points for lower rates. You may also find that an ARM will provide lower rates with more buying power than a fixed rate mortgage.

To view our list of recommended subprime mortgage lenders online, visit this
page: Recommended Subprime
Mortgage Lenders Online.

Read More

Car Loans - Navigating the Maze

It's too bad many people don't know about how to get the best auto loans. Businesses make a lot of money on what consumers don't know. These days no one has enough money that they can afford to get locked into a bad loan. In this article I hope to be able to help you pick the right loan for you.

Just going to a car lot and asking them to put together your loan for you is not the best way to do this. Let's start with that right away. Their job is to sell you a car and whatever loan they can get you that will achieve their purpose is the one they will try to get you to take. They want you to drive out with the car today.

You should negotiate your car loan before you make the actual deal to buy the car. Many people think these two things must occur simultaneously. Wrong. There are a lot of things you must decide before buying a car. One of those is how you are going to finance it, but let's explore all of things you will need to decide first.

Are you sure you know how much you can afford to pay for your new or used car? When you arrive at that figure, remember, you cannot spend all of what you can afford on the car payment. What I mean is this; say you can pay only $400 per month for your new or used car. That is your budget. How much of that goes to auto insurance? Subtract the cost of insuring your car. How much do you have left?

Now think about the interest on your car loan. How much of that will you be paying. You can estimate that based on the amount of car payment you are aiming at. Now how much is left of the original $400 per month you allotted for your new car?

If your budget for a new or used car was $400 per month, you really can't agree to payments of more than about $250 per month. The other charges and incidentals will bring you back up near the $400 mark you started with.

Now, if you are looking at new cars, is buying or leasing a better option for you? You will need to read up on both options before deciding what is right for you. Don't let the car salesman decide for you and pressure you into something that isn't what you need or want.

Loan calculators can be a big help. There are many on the internet, so be sure to find a reputable one. You can experiment with several options, and using a calculator will help you understand the whole process a little better.

They will even help you figure out how much you can afford to pay for a car. You may think you can pay more than you really can. This little tool will give you a reality check of sorts so that you do not get into a deal that is over your head.

So many people think they can afford more car than their budget allows and let it get them into credit and debt trouble. Doing your homework ahead of time and having a little discipline to stay within your means will keep you from having these problems.

You can use that tool over and over again, until you are comfortable making the decisions you will need to make when it comes time to negotiate with someone for the purchase of your car.

Remember, when you are the buyer, you are in charge, not the seller. If you have done your homework, you know how much you can afford, what type of loan you want, what terms you need, and all of the other details. It's their job to sell you a car that fits within the parameters you set.

The bottom line is do not buy more car than you can afford. Do not accept a car loan that is going to put you in a financial bind. Don't agree to a car loan just because the salesman tells you it's the only one he can get you. Do your homework before you choose the car. Too many people choose the car they want, then go out and try to find a way to afford it. That's putting the cart before the horse and a sure way to get you into debt trouble.

I hope this helps you open your eyes and prepare for a positive car buying experience. Buying a new car should be fun, just don't let the fun turn into worry down the road. I hope you find this article useful!

Read More

Loan Modification Help - The 3 Critical Steps to Approval You Should Know

Stuck in an unaffordable mortgage and worried about losing your home? Help is available if you know how to get it. The new federal loan workout plan, HAMP, has standard guidelines for approval that you must be able to meet. Learn the basics so that you have the best chance of success. Here are 3 critical steps to approval with your lender to get the lower payment you need and deserve. Read this to make sure you are prepared before calling your lender-you have a one-time chance at getting a loan modification, so you don't want to make any mistakes.

Loan modification step #1: You must explain to your lender why you need and deserve help. You do this with a hardship letter-this is a brief but descriptive account of your financial hardship. This is where you tell your bank about the circumstances that surround your inability to pay the current payment, what changes you have made to your budget so you can afford to pay a new modified payment, and your strong commitment to stay in your home. You want to gain the empathy and understanding of your bank so they will be motivated to help you. There are 3 critical elements in an acceptable letter, do you know what they are? You should also include some important trigger phrases-one of them is "imminent risk of default"-learn the others so you can include them in your letter.

Step #2: Work on your budget or financial statements. In order to convince your bank that you are a qualified candidate, they will ask to see an detailed accounting of your monthly income and expenses. You will complete a form that lists your monthly bills and your monthly income so that the bank can verify you will be able to afford to stay in your home if given the loan modification. A central part of this budget is the new target payment-this is the modified payment that you are asking for. Do you know how to calculate your ideal target payment? You can use a software program designed specifically for homeowners that will do all the calculations for you. Simply input your own monthly income and expenses and all the figures are done automatically. You can then make any minor adjustments to your budget so that you know you fit into the approval guidelines.

Loan modification step #3: Gather all of the documents together that your lender will need to review so that you submit a complete, accurate and legible loan modification package. Check and double check that your forms are correct and you have attached everything the bank will need to see. Remember the lender will have thousands of applications and only those that are prepared correctly will get reviewed quickly and have the best chance of approval. Why take chances when your home and financial future are on the line? Banks now must respond to homeowners within 30 days of receiving a complete application package-so you can greatly speed up your turn around time if you do your homework and send in a complete application the first time.

Don't be overwhelmed-take it one step at a time and you can get the loan modification help you need from your lender. The federal government is paying banks to modify loans now-so as long as you can meet the approval requirements your lender is highly motivated to help you stay in your home. Take advantage of the tools and resources available to help homeowners succeed.All you have to do is take the first step-start today to get the lower payment you need.

Read More

Establish Your Dreams With Secured Business Loans

Establishing a business is no longer a problem in these days. Thanks to the various loan schemes that have been introduced in the market to facilitate things for people have given them a chance to establish their own venture, if they do not have one and to reconstruct their existing business. Thanks to these various loan products and loan schemes things have become much eased out and much relaxed.

Gone are those days when people had to think twice before establishing their own business. Now they can do thanks to secured business loan . These loan products have been specially made for the business class people. With the help of these loans, now they fulfill their dreams of establishing their own venture and even expanding their existing business. This loan has helped them to fulfill their dreams.

The money industry has been witnessing a huge boom for the past some time and because of this advancement, various banks and financial institutions have come out with various loan plans and loan products that have facilitated the lives of people today. Therefore, today borrowers can take the help of secured business loan to take care of their needs This is a bigger and a broader term and there are many more sub categories under this huge category.

This means that under secured business loan there are many categories of loan products and a borrower can select any one of them. These loans have been specially introduced keeping the needs of a business man in mind. Being secured loans, these loans definitely involve putting up collateral against the loan amount that the person takes.

One needs to put up some asset as the collateral against the loan amount that he or she is taking from the bank or any other financial institution. This is a necessity because the involvement of fraudulence has become too much, especially in the domain of loans. Moreover, since a security is involved in secured business loan , the rate of interest that is applicable on the loan amount is much less and costs almost nothing. Moreover, the time period that is given to the borrower for the repayment of the loan amount is from six months to ten years. This means that the borrower gets a good amount of time to relay back the loan amount to the lender, which can be a bank or any financial institution.

There are many banks and financial institutions that offer secured loans to business owners or to people who want to start off their own venture. Obviously, if someone who wants to start a venture needs the loan, then he or she needs to show the blueprint of the kind of business that he or she wants to get into.

Moreover, the lender would definitely see the feasibility of the business and whether or not the idea has the potential to earn profit or not. Therefore, it is very important that you are thoroughly prepared to present the blueprint of your business to the bank or the financial institution from you would be taking the loan to establish your dream.

Read More

Cheapest Student Car Insurance - Start Saving Now

Finding the cheapest student car insurance isn't as hard as you may think it is. With all the economic problems the country is in you can get really great deals right now. Students are finding it hard to get loans for school these days and that means that a lot of students are working there way through college. So that means you have to budget everything. So when looking for a great deal for insurance you should check several companies and compare prices and here are a few tips that may help you.

1. The first thing you need to do is open a bank account and start making payments to yourself until you get to $500 or $1,000. The reason for doing this is so you can raise your deductible from $100 to $500 that can give you a 10% discount and if you can do a $1,000 deductible that could be a savings of 25%. Once you get your savings account to that level just leave it alone and let it grow and the interest over the years can be a emergency fund for you.

2. If you have a "B" average or better that will give you a discount and you have to make sure you let them know when your getting your Quote.

3. If you are a good driver then you may qualify for a good driver discount.

4. If you are a female you will get a discount.

5. Good credit score will also get you a better deal.

6. Did you know that even if your a bad driver and don't have the best grades you can still save money on car insurance. The reason why you can still save is because of the very bad economy that the country is in right now.The insurance companies are fighting between each other trying to get your business by lowering the cost and that is great news for you. So start saving money now.

Read More

Illinois Home Start Loan Program

Illinois has introduced a new program to ramp up sluggish home sales. It is called the Illinois Home Start Loan Program.

This program is designed specifically for first time home buyers. The Illinois Home Start Loan Program allows first time home buyers the opportunity to use the government $8000 tax credit (American Recovery and Reinvestment Act) and ads a twist to it. The twist is that first time homebuyers can now use up to $6000 or 3.5% of the home purchase price (whichever is greater) to use as the down payment in purchasing a home. For some first timers, this may mean that they need no money to be brought to the closing table in the form of a down payment.

The Specifics: What the Illinois Home Start Loan Program comes down to is that it offers 2 loans.

1. 30 Year Fixed Rate Loan

This loan is insured by the Federal Housing Administration (FHA) and serviced by U.S. Bank Home Mortgage.

2. Tax Credit Advance Loan

This loan allows first time home buyers in Illinois the opportunity to get a short term loan to use as the down payment towards the purchase of their home.

After the first time home buyer purchases their home, they will file a return with the IRS (or an amended return) to pay back the Tax Credit Advance Loan. If the loan is not paid back in its entirety by June 30, 2010, the remaining loan amount will become a 10 year loan at .5% above the 30 Year Fixed Rate Loan.

There are some qualifications which must be met in order to receive both the 30 Year Fixed Rate Loan (can be obtained by itself) as well as the Tax Credit Advance Loan. For instance, the property must be a one unit single family property.The first time home buyer must have a minimum FICO credit score of 660. The buyer must also occupy the property within 60 days after closing and remain in the property for the life of the loan. The buyer must close on or before November 30, 2009.

All in all the Illinois Home Start Loan Program looks to be just what the Illinois real estate market needs at this time to ramp up existing property home sales.

Read More