Refinance Mortgage Loans

If you have been turned down for a mortgage refinance, especially a cash out or debt consolidation refinance, because your lender says your credit score is under 500, there are a variety of new options and strategies available which can help you get the cash you need now to pay off your credit card debts, collection accounts, and other derogatory or poor credit accounts and improve your FICO credit score to the point where you can qualify for a low interest, fixed rate loan.

First, you may be wondering why the number 500 is such a big deal. A FICO credit score is a number from 300 to 850 which is meant to represent your reliability as a borrower, and takes into account how much credit has been extended to you, how much money you owe and whether or not you pay it on time. Banks like to tell us that 99% of people in the US have credit scores of 500 or higher, and use this as an excuse not to even bother lending to people with credit scores under the magic 500 FICO score. As far as they’re concerned, since only 1% of the population has a FICO below 500, they simply don’t have the time to design programs to help these people buy or refinance homes.  Learn more about USDA mortgage loan programs by visiting Loan Trust.

We’ve worked with dozens of people who have come to us with FICO scores below 500 over the years, and every one of them says the same thing. ìI just need help right now, and everyone I talk to keeps saying NOî. This is because until very recently, it was extremely difficult to get a loan if your credit score was 499 or less, and even today, only a few mortgage lenders, whether they’re banks or brokers, have the time or attention required to focus on the needs of what they think are a few unfortunate people. So until very recently, if your credit score was under 500, the only chance you had at refinancing or obtaining a home loan was if you went to a hard money lender.

If you’ve ever come across these individuals, you might not have been able to tell the difference between hard money or private mortgage lenders and a loan shark, and while that comparison is not entirely fair, it is to a certain extent accurate. Hard money lenders are small investors who lend only against the hard equity in your home, generally not more than 60% or 70% of the property value, the loans are generally short term, very high interest rate (12% to 15% or more), command huge upfront fees and closing costs, often up to 10% of the loan amount, and rarely if ever do they report your timely payments to your credit bureaus, making it harder to improve your credit. Why would anyone borrow money from a lender like this? In the past and even today, banks and other mortgage lenders have said no to sub 500 credit score mortgages or home loan refinances, and sometimes you just need the money that badly.

Many people have touted the benefits of credit repair services to prospective borrowers with scores under 500. The proposal often reads like this, first, give them a thousand dollars out of your pocket to fix your credit, which they will accomplish in six months, and then once your scores are over 500, they get a loan done for you. Of course never mind that $1,000 is a lot of money for most people with 700 credit scores, and very often a heck of a lot for an individual seeking a mortgage / refinance to consolidate debts. Add to that the fact that conventional credit repair takes too long for most people to wait without the extra cash to pay off bills that you get with a refinance, and you can see that credit repair by itself is not a very efficient proposition if what you really need is a refinance loan today. That’s not to say credit repair doesn’t work, it’s just that it doesn’t work very well for most people who are under 500 FICO seeking a debt consolidation, refinance or home purchase loan.

Over the years we’ve taken a harder look at the numbers, and it turns out that the banks and credit reporting agencies may have drastically underestimated the number of people in this country whose credit ratings are actually under 500 FICO. There are literally millions of people nationwide who fit into this category, and we have spoken with our share. What do we know? That most people with credit scores below 500 are hardworking, honest people whose credit is suffering from the realities of living and working in America today. As tight as our budgets are stretched in this country today, it only takes a very short term disability or unemployment to severely damage our credit scores. And some of us might have gotten in a little over our heads when we were younger, but in the years since we’ve been trying to get back on the road to good credit, and we’re sick of getting charged sky high interest rates every time we get a new credit card, apply for a car loan, or get denied for a bank loan and wind up calling on the aforementioned hard money / private mortgage lenders. We knew the banks had missed something. Our friends below 500 were not only more numerous than they had previously estimated, they were also more than some credit score, they were good people. Learn more about Fix and Flip Loans by visiting Loan Trust.

So we developed a strategy which we are sharing in the hopes that other borrowers under 500 can reap some of the benefits that our own clients have. We’ve helped borrowers with no money in the bank, $50,000 of bad debt, and sky high monthly payments driving them into the poor house get out of debt, get some money in their pockets and eventually achieve major financial improvement in a very short amount of time.

And how does it work? First, there are a few major, institutional lenders which have programs that allow us to arrange and refinance real mortgage loans at competitive interest rates for borrowers with credit scores under 500. These are real, federally and state regulated lenders, not private investor groups who will take your last dollar and send you on your way. Ask your mortgage broker about these programs, and if he doesn’t know what you’re talking about, get a new broker.

The typical strategy is a credit improvement strategy, where the goal is to take enough cash out of your home to pay off as many of your past due, high interest, or high payment debts as possible. We recommend taking a little extra cash from closing if possible, or to use some of the savings from your lower overall payments so that you can enter stage two of the strategy, which is third party credit repair. A good quality credit repair agency should cost less than 300 dollars overall and can clean up your credit and remove a lot of delinquencies and other items which are negatively impacting your credit. Combined with all the truly harmful items which you’ve paid off with your debt consolidation refinance, you should be able to improve your credit score by 50, 100 points or even more. I have seen a client go from a 485 FICO and $65K in combined credit card and auto loan debt and a total monthly payment of over $2800 to a 610 credit score and a payment of $1900 per month in less than 4 months. How did that payment get so low? Once their credit score went over 600, we were able to qualify them for a new mortgage at a low interest rate, because now our friends had good credit, and paid off the few remaining debts which they had by consolidating through refinance. Before the process, their average interest rate across all debts including home, cards and cars was nearly 22%, and afterwards, the average rate was under 9%.

We hope you find this information useful in reshaping your own financial future, and hope that you tune in for the next mortgage series of articles.

Internet Marketing Is Simple After You Read This Article

Here is some straightforward advice for you to use as you get started in Internet marketing. You will find some useful techniques that can be quickly put to work for your business venture.

Ask for feedback often. It is important because your personal perception of pricing or site design may not be that of the customers. Ask peers, family or potential clients for feedback. Take their advice seriously and make any changes you need.

When marketing your product, it is important that you have a FAQ. Be truthful in your questions and answers, but portray your business in the best possible light. Just be sure to avoid making it look like an advertisement by going overboard with product suggestions.

The name internet marketing makes it seem that this type of marketing is done only on the internet; however, this is not true. For example, you can advertise to people through the real world and advertise through more conventional means and just promote your web business through other mediums. This will help them feel connected with you, and they will continue to promote your services.

Have more than one section on your site with a central hub where visitors can look at your products. You should look to have a structured page that offers a good variety of products and services.

You should make sure you know the answer to your visitors’ inquiries. Traffic will be attracted to your website because they are looking for information and will quickly move on if you can’t provide them with what they need. So, provide all your sites visitors with lots of helpful information that keeps them coming back for more which can eventually lead to a sale.

Make sure you keep very detailed records of all aspects of your business. This should include refunds, sales, traffic, referrals and anything else you can think of. Statistics help you see what is working and what is not, and these records will help you at tax time.

Let your customers leave rating and reviews for other customers to see. By having a system in place for product review, you will be providing both you and your customers with important information. You can determine which products to hold in stock and perhaps adjust your pricing or marketing accordingly. Customers will also have more trust in both your service and the product they intend to purchase.

Video marketing is an ideal way to use the Internet to advertise. Sometimes there is no better way to grab a customer’s attention than by posting a compelling video about your product. Enticing titles and unusual graphics can attract potential customers and may lead to increased sales.

Show customers why your product or service works and is the product they need. It is easy to claim that your product is effective, but without good, solid proof, your audience may not buy it. This is why it is so important to sell products that you have used yourself.

Know the goals for your site and stick with reaching those goals. What kind of articles do you want to publish? What directories do you want to publish your articles to? Make sure this content is adapted to your audience, and encourage people to share these articles with their friends. Keep these rules in mind when you are writing.

If you utilize a successful web marketing plan, chances are you are aware of your most profitable products. As for your next step, you should use the products as flagpoles to get more sales. Advertising accessories for these popular items will likely further your sales. These complementary products are sold through your more popular products and may not require the same amount of advertising as completely unrelated products.

An effective way to provide content that is sought after and to establish respectability on your site is to have interviews from noted people in your industry. You could write down these interviews or make videos and podcasts. This interview can help better your site’s reputation along with bring added visitors to your site and increasing its traffic.

One of the best ways to scale up your successful online campaigns to huge profits is through banner advertising and media buying. Whether you are doing affiliate marketing, CPA marketing, or selling your own products or services, you should watch my Banner Advertising & Media Buying Made Easy video and my Media Buying Crossover video.

The online marketing information you just read is quite valuable when it comes to internet marketing. We hope that you not only were able to learn something, but also will be able to apply it. By following the advice presented here and in my free Online Marketing Strategies digital magazine (available from my IM fanpage), you will soon meet with greater success and increased income.

How can I get low Cost Health Insurance?

The California State Health Department has released a list of services that are offered by health maintenance organizations. According to the state’s website, these services are necessary for the health of all Californians as well as their well-being. According to the state’s website, these services include “diagnosis and treatment of chronic and severe diseases as well as nursing care, preventative and specialty care including hospitalization and medication.” In short, low cost health insurance plans in California are offered by HMOs and PPOs, health maintenance organizations that have a high deductible and offer affordable coverage for their members. 

According to the government, almost every type of medical service is covered by one type of plan. The following services are not covered by the majority of HMO and PPO plans include orthopedic surgery, some cancer treatments, dental care, mental health services, psychotherapy and hospice care. The California Health Facts Guide is available on the internet. Each plan comes with its own advantages. These services might not be provided by all HMO and PPO plans Emergency room visits, medical visits medical services, prescription drugs hearing aids, psychotherapy.

Where can you search for cheap insurance plans in Los Angeles?

“While there aren’t any legal restrictions on an HMO’s [low-cost health care] providers, physicians and hospitals are able to refuse treatment for patients if the doctor determines the services would be insufficient or unreasonable under California law,” according to the California Health Facts Guide. Take a look at Covered California Quote This meansthat “some hospitals and doctors have turned down treatments because they feel it would be unjust to patients to deny them the treatment. This could lead to a break in the doctor-patient partnership, which is one of the main objectives of health care systems. California HMO plans do not permit doctors to conduct negotiations for patients. If this is the case, the doctor is required to refer the patient to another hospital or facility that will provide adequate care. California law says that no doctor or hospital can refuse to be a participant in the “consolidated medical maintenance organization” plan.

Some California health insurance companies prefer “PPO” plans because they allow patients to choose their own physician and hospital. Patients have the option of choosing between managed care or hospital coverage via “PPO” plans. Patients who require special services are more likely opt for managed care plans. These plans typically have a minimum monthly payment.

How can you locate a reliable insurance companies in California?

A PPO policy is a different option to obtain low cost health insurance in California. It has a lower monthly price than the other. However, the policy holder is limited to medical treatments that are not covered by insurance. Additionally the PPO policy doesn’t include preventive medical care, hearing aids, dental services and vision care. People who have PPO policies PPO policy are advised by the California Health Facts Guide to keep exact records of every service that they receive as well as any prescriptions.

There are options available to Californians without insurance but want to have low-cost health insurance. There are several options available to those seeking affordable health insurance. Individual voluntary arrangements (IVA), which allows customers to pay a higher monthly fee for lesser coverage and less out-of-pocket costs, is the most popular. Another option that is affordable is the California Health Insurance Pool (CHIP). Each policy comes with limitations of its own and is only available to specific individuals. Prices also differ greatly between the two arrangements.

What is the most affordable way to obtain healthcare? 

Another option is to consider obtaining pre-existing conditions coverage. The coverage is provided by major insurance firms. Some insurance companies also offer “risk pools” which allow individuals with pre-existing ailments to participate in the group plan at a reduced cost and get the same benefits as others who do not have serious health issues.

What are the best methods to secure low-cost health insurance? Based on your personal situation, there are a variety of solutions to this question. California offers a range of options for people looking for affordable health insurance. One important factor to consider when choosing your health insurance coverage is whether you can afford the premiums on the plan you are considering and have enough funds in reserve for deductibles as well as other expenses that could arise during the course of your coverage.

Are All People Eligible for Covered California Health Insurance?

You might be considering health insurance. But are you certain that Covered California is available to everybody? Covered California is a program that works under the popular Medicare program, but it offers extra benefits for a lower cost. The plan is offered to those who are currently employed or recently divorced. Before you purchase any kind of health insurance, be sure that you verify whether this plan is available.

It doesn’t matter if self-employed, retired, single, or you’re in working. California will allow you to get a health insurance policy. It is required to have at least one whole year of Medicare coverage if you’re over 65. If you do not have Medicare the individual insurance policy can be bought that covers the majority of your medical requirements. 

What’s the difference between Obamacare and Covered California? 

Another thing to know about Covered California health insurance, is that it comes with high deductible. High deductibles mean that you’ll need to shell out more before you can get your health insurance in. High deductibles are important when choosing health insurance plans. In most cases, the deductible should be at minimum six months prior to when you are able to get health insurance.

You are typically not qualified for a plan which covers health insurance if you’re between 18 and 44. This is due to the fact that these age groups usually have higher premiums to pay as compared to younger people. You could be eligible to receive health insurance if are between the age of twenty-four to thirty-four, depending on your medical situation. You’ll need to pay more for insurance in this situation. In the case of your health insurance, it’s best to shop around.

Which diseases are covered under health insurance?

A lot of people believe that if they need health insurance, it should be some kind of emergency room emergency. While health insurance policies may cover emergency situations, it is not the only option you have. There are many health insurance policies that provide substantial coverage for those suffering from chronic ailments. It is essential to be aware of what your policy covers and whether or not you are required to use those services. Certain policies provide eye doctor visits , whereas others don’t.

Another key aspect to note about Covered California insurance is the absence of an opt-out provision. You’ll have to purchase an additional policy in the event that you find the coverage isn’t adequate for your health condition. If you aren’t at ease with the fact that you cannot choose which doctors you consult with, you can find an alternative health care plan. These types of plans are offered within California health insurance market. It is important to evaluate various health insurance plans prior to making a decision on which health insurance option is best for you.