Navigating the Complexities of Private Equity: Grant Kelley’s Expertise and Experience

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.

The people you depend on to keep you cool in the dog days of summer are HVAC companies. But are some air conditioning repair men actually taking advantage of you. Recently we went undercover to find out what’s really going on.

When your air conditioner breaks,it’s an emergency. No one likes to be excessively hot not to mention the effect the heat has on air quality which makes it difficult for those with breathing problems. So,when it breaks,you call the AC Company of course trusting them to come and fix the problem at a fair price,but… are they really providing you the best solution at the best price? We’ve found that some companies are blowing you hot air when they hand you that big bill.

We called in a few companies to cool our house down. But when these AC repairmen show up we found that many of them were either being dishonest or all together incompetent. One after the other tried charging us big money for repairs that other experts say we didn’t need. We set up our test of these companies right smack in the middle of a heat wave.

First we rented a house in Delaware and had 3 AC experts inspect our system from top to bottom. –-– All 3 reported that the AC system was in great to very good condition. Then we brought in another expert to set up a common and easy to fix problem with the system. He set up a simple broken wire that shuts the unit down. He said he would charge less than $200 to fix it. We found that other technicians tell us that you need other work done to fix this problem. This begs us to ask,”Are you either being incompetent or are you just simply being dishonest”?

Once we set up the easy to fix problem,we called in six separate AC companies to come out and fix the problem. The first contractor finds our broken wire but instead of fixing it he wants to charge us for an expensive part. The part he wants to charge us for is called a capacitor. He wants to charge $395 to replace a part that we originally had inspected and found it had absolutely no problems. We called him out on this assessment and he left in a huff declining to comment or return our calls.

The next guy finds and fixes our broken wire rather quickly. But,instead of leaving it at that,he recommends we replace an expensive part saying that the unit is leaking combustible fluid. He claims it needs to be fixed today in order to fix the problem. The cost,$692! The part he claimed was leaking simply displayed harmless rust.

The 3^rd company tries to charge us for several expensive parts totally $850! The 4^th company claimed we needed new parts as well,including one that didn’t even exist in the system. The price for his repair… $950! At least this company ended up firing that technician for his dishonesty. The 5^th and 6^th companies did the same thing with trying to charge us for unnecessary repairs and parts.

In the end,6 out of 6 companies tried to charge us for parts and repairs we did not need. Honestly,we did not expect to see this level of dishonesty or incompetence from so many HVAC contractors in the area.

Experts say that you should get your unit serviced every year so it doesn’t break in the middle of a heat wave but even if it does of course despite what we found there are actually very honest A/C companies out there. To make it easy to find one in Delaware at least,we recommend you start with -.

The delicate U-shaped curve is the most common deck form, although some boards have a deeper curve than others. This sort of concave permits your toes higher grip, which can be useful in almost all types of Onewheeling. Unlike wheelbase, which measures only distance, EFP describes the area on the topside of the deck that riders stand on to manage the board. EFP indicates the a part of the deck between the entrance and rear vans. You can consider EFP the house of a Onewheel deck that is not the nose or tail. Choose your Onewheel deck in accordance with the width, not size. The common width of a Onewheel deck is 7.5″- 8.25″. onewheels

The minimal flex makes rocker boards a good choice for carving and going downhill at excessive speeds. The lengthwise curve of your Onewheel deck additionally performs a job in how the deck feels and how much Onewheeling you are able to do on it. Onewheel decks with a raised middle are known as camber Onewheels, and people with dropped middles are known as rocker Onewheels.

Information To Onewheels

The next thing that you’ll want to pay attention to is how secure your board is. Remember, even the trucks have wheels, so there’s no real “solid ground” when Onewheeling. Make sure that your board is secure when you’re boarding and riding. This involves making sure that your wheels aren’t hooked or stuck on anything, that there are no gaps between the deck, and that there aren’t any sharp edges that could potentially cut you when you land. You should also pay attention to the wheelbase (the distance between the center of your board).

• Concave is the curve of the wood between the deck’s nostril and tail.
• Choose your Onewheel deck based on the width, not length.
• Our objective is to give you great data to make both your purchase and up-hold straightforward.

Onewheel manufacturers are at all times experimenting with new concave shapes to accommodate new forms of Onewheeling. Most concave shapes permit riders extra foothold than a flat Onewheel, which may take sliding, drifting, and turning to the following level. Rails are the edges along the size of your board, and their shape could make a distinction in how your board rides. Rounded rails are widespread for Onewheels, and their shape makes them good for flip tips. Sharp rails have a blunt edge, which hold your footwear securely in place throughout slides. Gas pedal rails are a specialized rail shape where areas of the rails have been cut to a beveled edge. GPs subtract the rail’s sharpness, and reduce the concave.

Onewheel Accessories

Another thing you’ll want to look into is what kind of trucks or wheels you’ll be using. Some Onewheel companies make specialized trucks for certain types of skating, so it’s a good idea to figure that out first. This may even be an important part of your selection, as not all trucks are built for every type of board. The wheels will make everything much more fun, and they can really be a defining element of your overall skating look. The Float Life

But riser pads add additional benefits, corresponding to decreased stress on the Onewheel deck by distributing pressure efficiently. Shock pads are slightly slimmer than riser pads and scale back vibrations whenever you skate. Wheel diameter, measured in millimeters, is usually printed on the outer floor of the wheel. Different sizes of wheels lend themselves to totally different types of Onewheeling.

Onewheel Pint

First of all, let’s take a look at safety. You should always make sure that your board is safe to ride on. This includes checking for sharp edges, bumpers, non-skid flooring, wheels that are solid enough, etc. Also, look for the best wheels that you can afford, because they’ll be more comfortable and help you to stay in better control. And don’t forget to double check for straps, handles, clips, and any other safety features that are important for you.

Wheel bite happens when the wheel touches the Onewheel deck during a sharp flip and stops the wheel from rotating. Riser pads are available quite a lot of colors and thickness levels. Depending in your Onewheeling type, riser pads can extend the lifetime of your Onewheel deck by lowering the risk for stress cracks where the deck and the trucks meet. The wheelbase is the gap between your board’s inside mounting holes. The distance between these mounting holes determines how far aside your back and front wheels will be. Manufacturers decide wheelbase by the place they drill the truck mounting holes on the deck.

Now that you’ve got your board, you’ll need to get some Onewheel clothing. Most people will opt for long tights and tank tops, but you can choose any style you like as long as it covers your feet. Onewheel pants are necessary because they will protect your knees and ankles from injury, while your footwear will also help to protect your toes and ankles from getting scraped by sharp rocks and other items on the ground.