Financial online

By: Joseph Kenny

It can be disheartening when you apply for a credit card and get turned down. However, in the vast majority of cases, it really is not anything that you need to worry about. While there are some people out there who would be approved for virtually everything they could think of applying for, for the vast majority of us, applying for a credit card can take a little time and some trial and error.

Credit card providers generally have pretty strict criteria that they are looking for from applicants when they launch a new credit card. They will be targeting the card at a specific segment of the market and will have a credit score range that they are seeking from applicants. If you do not fall within this score range, you will not be in their target range and will be refused the card. But this does not mean that you will not be successful when you apply for another credit card that is targeting your section of the market. And it is important not to take the rejection to heart.

Determining Your Credit Score

You may feel that you are trustworthy and always pay your bills and that you should not be turned down for credit, but remember that credit approval is no longer a personal exercise but is by and large automated and subject to computer credit checks and the like. A computer will look at your credit score and give a yes or no answer, and no individual attention will be paid personally to your application at all. It is a necessary way of running the system for lenders who have literally thousands of clients and applications to manage as efficiently as possible.

The Next Step After Rejection

If you are refused for credit, then apply to a couple more companies. You should try not to rush the process and apply for one card at a time. You usually receive your answer within a couple of days. The reason for this is that if you apply for too much credit too quickly, it will show up on your credit report and may cause lenders to turn you down. So be patient and if possible, ask the lender why they have rejected you.

Patience is a Virtue in Credit Card Applications Too

The chances are you are simply applying for the wrong type of card, for example, if you are a student, you will really only be approved by companies that make a point of providing credit cards to students and most other will reject you as a matter of course. So by a little patience, and taking the time to make your application to a credit card company that targets the segment of the market that you fit into, you should be able to get your hands on a credit card before too long.

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Simply put, cash advance payments are small sums of money advanced to borrowers for a short-term period. The amount you can borrow is dependent on how much your salary is, but normally ranges from $250 to $1,000. The period you can borrow the money for is until your next paycheck, unless you and the lender agree to a longer period. In any event, it is highly unlikely the amount can be borrowed for longer than two paychecks.

All you need in order to apply for cash advance payments is to have a current job and a valid bank account. That’s it! Your credit rating is not important, as this will not be checked. You won’t even need to provide any security! You will, however, need to apply for the cash advance payment online via an online application, with a copy of your latest pay-slip and bank account details. Once your application has been approved, the advanced cash will be sent to your nominated bank account. Then, on your next payday the lender will use the same bank account details for you to make repayment of the advanced cash.

So, if you have any unexpected bills to pay or simply want to borrow some money very quickly, cash advance payments could provide you with the perfect answer to your needs.]]>

By: Don Sorensen

A payday loan is a small, short-term loan. The loan will typically be for a few hundred dollars and the loan term will be one to four weeks, until the borrower’s next payday. It is an unsecured loan, meaning you do not need to put up any collateral.

Payday loans are also called “check advance loans,” “cash advance loans,” “post-dated check loans,” or “deferred deposit loans.” The idea is that the lender gives you an advance against your next payday check. When payday arrives and your pay is deposited to your checking account, the lender debits your account by the amount of the loan plus the loan fee.

Many cities have payday loan offices and you’ll find plenty searching on the Internet. If you’re approved, the money is wired overnight into your checking account. The loan is usually for one to four weeks — until your next payday.

When the loan is due, the company takes the amount you owe — plus a fee — out of your bank account. You can “roll over” the loan to the next payday, but you have to pay another fee.

What stops most people from getting a payday loan online? Two things:

1) Confusion about which company to use and how to go through the process.

2) Not being able to meet the requirements.

Each company has slightly different requirements you have to meet. Here are some of the basic requirements:

- You live in the U.S.

- You’ve had a job for at least three months, or you receive monthly benefit income (such as Social Security)

- You make at least $1,200 per month if employed, or $960 per month if on a fixed income

- You have direct deposit

- You have an active checking account

- You have a home phone where you can be contacted

If you meet all those, you have a pretty good chance of getting approved for a loan right away.

There are a number of differences between the companies offering payday loans. For example, not all companies lend money to people in all 50 states. And some have higher or lower income requirements.

You can improve your chances of being approved by doing three things:

1) Get all your information together and fill out the form completely and accurately.

2) Be totally honest when you fill out the application. They will check to make sure what you tell them is true.

3) Don’t apply to more than one company. If a lender sees that you applied to several companies, they’ll think you’re too much of a risk and not give you a loan. That’s a common mistake you must avoid.

You now know more than 95% of the people looking for loans. And you’re well-armed to find a lender you can trust, and to get a payday loan approved today. That gives you a huge leg up on everyone else who tries to apply for a loan online.

Wishing you all the best in solving your cash flow needs!

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A cash advance service operates much like a credit card service in that if the borrower cannot afford the loan amount and interest at the time of maturity, they have the option of paying a fee to extend the loan (or ‘refinance’ it). The fee grows exponentially every time the loan is refinanced.

Payday lenders, as well as larger, more conventional banks, offer various cash advance services. However, much controversy surrounds these services, which critics say exploit the poor, needy, and young, enticing them with loans that merely imprison them in debt via high interest rates and refinancing fees. Although a cash advance may benefit someone who is temporarily unable to pay their bills or buy groceries and would not be able to obtain the necessary funds otherwise, such loans may not be in everyone’s best interest. The controversy over cash advance services is so great that payday lending is illegal in twenty-five states in the United States. Thus, many payday lenders must coordinate with banks outside their state to provide cash advances to customers.]]>

By: Don Sorensen

Sometimes when we’re in a bind and need some extra cash, we forget the options we have available. Before you panic about your lack of money, keep in mind some of the ways you can solve your problem.

Here are six solutions, with the advantages and disadvantages of each one.

1) Borrow from a friend or family member

You may have loved ones who will help you out in a time of need, no matter what your situation is. In that case, this is probably the first solution to consider.

The advantage is that you don’t have to fill out applications, have your credit checked, or deal with a company that may charge you high fees. In fact, your friends or family may not charge you any interest for making you a loan (but it’s polite to offer them something, even if it’s just to do them a small favor).

One big disadvantage to borrowing money from someone you know is that they want to know why you need it, and you may have to explain your situation. That’s not always easy to do.

Another disadvantage is that word may get around, if they can’t keep your problems to themselves. Even friends and family like to gossip about their loved ones.

Also, you may have to listen to all their advice about how to save more money, how to get a better job, what to do with your life, and every other “helpful” bit of information they feel a need to tell you. But that’s just the price you pay for borrowing money from people you know.

Finally, the biggest disadvantage is what could happen if you can’t pay back the loan — or can’t pay it back quickly enough. That could ruin your friendship or family relationship, so consider this carefully before borrowing money from them.

2) Pawn something or hold a yard sale

You may have some things you don’t need. In that case, why not sell them to make some money?

If you have something of value that you’d like to keep, and you think you’d have the money soon to buy it back, you can try pawning it. The danger there is that you won’t have enough money in time to get it back.

If you have things you want to get rid of, you can try holding a yard sale, sell your items through the newspaper, or even sell them online on eBay.

The disadvantage is that you don’t know if you’ll be able to sell your things, and it may take some time. Also, you may have expenses involved if you have to run an ad in the paper.

3) Ask your creditors for more time to pay your bills

This isn’t exactly getting cash. It’s more like getting a temporary stay of execution. Still, it may help you get past a temporary cash crisis.

The advantage is that you don’t have to get a loan or sell your valuables. Instead, you just ask for more time to pay your bills. Some creditors may be willing to work with you and arrange a different payment plan.

The disadvantage is that your creditors may charge you for this service. And you still may have to pay late charges or higher interest rate. Or they may just laugh in your face for asking. But it’s worth a try.

4) Get a cash advance on your credit card

The advantage of this is that you don’t have to talk to anyone, fill out an application, or get approved. You’re borrowing money from the credit card company, and they’ve already approved you for a credit line up to a certain amount.

Of course, this solution assumes you have a credit card, that you haven’t maxed it out, or that you’re willing to pay the high fees and extra charges. Typically, credit cards charge a “transaction fee” for a cash advance and they charge a higher interest on cash advances than they do on normal purchases. That’s one disadvantage.

Plus, a lot of us don’t have clean enough credit to get credit cards. Or we just don’t want to be sucked into the world of yearly “membership” fees, or worry about late charges if we miss the payment deadline by a few hours. And some credit cards charge huge interest rates. You can end up paying hundreds of dollars for the “privilege” of using your credit card.

5) Get overdraft protection on your bank account

With this service, the bank covers any checks you write where you don’t have enough money in your account.

The advantage is that you avoid paying fees for bounced checks. It gives you a bit of a cushion.

The disadvantage is that you still end up paying fees. But instead of paying fees for bounced checks, you pay fees for the bank to cover your overdrafts. And that can cost you a bundle!

Some plans have fees as high as $35 per overdraft. What this means is that the bank is really making you a high-interest loan. That is, they charge you for the use of their money (by covering your check when you don’t have enough in your account). And they may only cover you for a few hundred dollars. After that, they start bouncing your checks.

It can be good to have overdraft protection for when you accidentally write a check when the money isn’t there. But don’t use it as a roundabout way to get a loan from the bank. You’ll end up paying too much for this.

6) Get a loan

Once you’ve tried other ways to raise the money you need, you can try getting a loan from your bank or through companies that offer payday loans (also called check advance loans or cash advance loans).

Getting a loan from your bank can be the better choice because you’ll probably be able to borrow the money at a good interest rate, and you don’t have to pay it back right away.

However, this can be the most difficult loan to get. Banks prefer to make loans to businesses, or for specific projects such as a home improvement loan. They rarely give loans to people who just need some cash to tide them over until next payday.

That’s where payday loans come in.

A payday loan company will advance you some cash right away, and you don’t have to pay them back until your next payday. The disadvantage is that these loans are only for people who receive a regular paycheck or benefit check.

The advantages are:
- You can get the money quickly, deposited right into your checking account.
- If you apply online, you don’t have to talk to anyone or tell them why you need the money.
- If you can’t pay back the loan on the next payday, you can roll the loan over until the following payday.
- They usually don’t care about credit problems, only that you can pay the loan back.

While payday loans aren’t for everybody, they are something to consider if you need to get some cash now. Just make sure you’ll be able to pay the loan back fairly soon.

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This can be known as cash out refinancing, where you basically refinance your home and get some cash back in the way of a lump sum at the closing table.

Borrowing off of the equity in your home is done by many people and used for many different things.

Such as, home improvement projects, new cars, college expenses, family vacations, etc.

Of course, just like everything else in life, the process isn’t one of the easiest of things to do in the world. But if you take your time, do your homework, and find the right lender and loan officer, the task in front of you will be a lot less painful.

The mortgage industry is a very competitive one, so be sure to shop around and look for the deal that is best for you.

If you are not interested in doing the shopping around yourself, consider finding a mortgage broker to do the shopping for you.

A mortgage broker is a person who works as a liaison between the customer and the lender. It is the job of the mortgage broker to shop lenders for the consumer to find the mortgage program that best fits their needs and budget.

Allow for a few brokers to assess your situation, than base your decision on the one that best fits your needs and budget.

Keep in mind, most cash out refinances are tax deductible, so be sure to run it by your accountant at tax time.

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By: Kyle Allen

The minimum payment on next month’s credit card bill could be almost double what you were required to pay this month due to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. How will higher credit card minimum payments affect your family’s finances, and can your mortgage advisor help you avoid financial hardship or even bankruptcy through cash out refinancing, a second mortgage, or a home equity line of credit?

Credit Cards can be powerful financial tools when used properly. However, if you’re like 35% of our fellow Americans, you are only paying the minimum payment each month, at least according to the Federal Government Office of the Comptroller of the Currency. Federal regulators are currently pressuring major banks, including major issuers such as Citibank and MBNA as well as the Bank of America, to increase their minimum payments so that consumers have a fighting chance of paying off their high interest credit card debts.

Today, your credit card minimum payment is usually between 2% to 2.5% of the total debt on your credit card. If you were to pay the minimum payment every month today on $10,000.00 of credit card debt at 18% APR, it would take you more than 50 years, 601 payments in total, to pay off your debt, and you would pay an extra $29,000.00 in interest charges to the bank for the privilege of using their money.

By the end of March 2006, major card issuers nationwide will be increasing their minimum payments to effectively 4% of the total debt each month, which for the estimated 50 million Americans who are paying the minimum payment each month may mean that their credit card minimum payment will double. Regulators argue that by paying 4% credit card minimum payments versus 2% credit card minimum payments, you the consumer will be able to pay off your debts more quickly, if you can come up with the extra money each month! Taking the above example of $10,000.00 at 18% APR, you would be able to pay off your credit card debt with a 4% minimum payment in as little as 15 years, and you would pay less than $6,000.00 in interest fees to the bank. That’s a savings of over $23,000.00 versus a 2% minimum payment.

Sounds great right? Higher credit card minimum payments can help you get out of debt faster than lower minimum payments, but there is one catch. You need to pay twice as much every month. So if your minimum payment is currently $400.00, you’ll need to find another $400.00 per month just to keep up with the new minimums. Even if your bank does not increase your rates this coming month, it’s only a matter of time before they are drawn into compliance with the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 and your credit card minimum payments rise.

As you can see from the above examples, the government is onto something, paying off credit cards more quickly saves consumers a ton of money, but it actually increases their minimum payments, making it unaffordable for the Americans who need this sort of protection the most. In fact, many of the people whom we’ve spoken to in the writing of this article would likely face bankruptcy after their savings were depleted with these higher payments.

But is there a better way? For homeowners there are some very attractive options available. A Cash Out Refinance, a Fixed Rate Second Mortgage or Home Equity Loan, or a Home Equity Line of credit from your mortgage broker is one of the most effective ways to stop paying high interest on credit card debt and to actually reduce your total monthly payments. For the average customer carrying $10,000.00 dollars of credit card debt at an APR of 18% their new higher minimum payment will be 400 dollars, and if they are like most customers they also have a car loan of $20,000.00 at 9.5% and pay about $450.00 per month, the typical savings realized by consolidating those debts with their mortgage or taking a second mortgage to pay them off can be 60-70% on their current unsecured or revolving debts, and even more savings come tax time through interest deductions available for mortgages.

Speak to a mortgage broker and you’ll find that you can borrow $35,000.00 per month by refinancing with cash out, getting a home equity loan or second mortgage, or opening a home equity line of credit for as little as 200 dollars per month, or even less. Refinancing with cash out not only pays off your credit card debt and your car loan at the high interest rates associated with credit cards and auto loans, but also saves you over $650.00 per month in this scenario by lowering your total monthly payments. Yes, your mortgage payment will increase, but your total monthly payments will actually decrease, putting $650.00 in your pocket each month. Use some of that savings to make at least one extra mortgage payment per year and you’ll pay off that mortgage even faster than you could the credit card debt at minimum payment levels. And you should speak to a tax professional as well, because while you cannot deduct credit card or car loan interest from your taxable income, in most cases you can deduct the interest paid on your mortgage from your taxes, which has the potential to save you thousands more over the life of the loan. This method is not for everyone, but if you are a homeowner facing financial constraints and the thought of your credit card minimum payments going up by up to double makes you shiver, it may make sense to speak with a mortgage broker and with your accountant about a debt consolidation refinance or a debt consolidation loan.

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appearance, as around the thighs and buttocks.

Cellulite is popularly known to be difficult to remove by
dieting and that often has a dimpled appearance. There
is no physiological difference between cellulite and
ordinary fat. Cellulite is a normal human variation that
can be seen by the other person. It is usually treated as
some sort of disease. The term “cellulite” came into
being in the year 1973 to refer to the dimpled
appearance of the skin that some people have on their
buttocks, hips and thighs. This appearance is much
more common in women than in men because of
differences in the way fat, muscle, and connective
tissue are distributed in men and women’s skin. Female
hormones play a major role in contributing to this fat
distribution, cellulite is not treatable by hormone
therapy.

Cellulite should always be seen as a normal variation.
In fact it can be seen just the way a normal body part is
seen. It can be seen just as a dimpled appearance, like
some people having thick hair while others have thin
hair. Cellulite is a very normal variation.

Cellulite can also be viewed as the dimpling pattern on
skin caused by lobules of underlying adipose tissue.
Cellulite is not a medical or scientific term but refers
only to aesthetics. .

Cellulite does not necessarily emanate from a single
cause. many hormonal and genetic factors result in
cellulite formation.

Researchers have found the following factors to be the
main factors affecting formation of cellulite - incorrect &
improper diet, life-style, alcohol, smoking, insufficient
water intake, tight clothing, blood pressure, high heels,
etc.

Cellulite can be reduced by suitable physical exercise,
balanced diet, massage treatments, liposuction or using
specific treatments. At-home treatments include a low-
fat diet and dietary supplements. Research has proved
that so-called cellulite treatments aren’t that effective
as the claim is made out to be. These products don’t
come under the purview of FDA, so there isn’t any
scientific basis to evaluate their effectiveness and make
suitable conclusions.

In sum, eating a healthy diet and keeping muscles
toned by regular exercise seem like reasonable
approaches to keeping the body as taut and smooth as
it can be. Patients should be very cautious before trying
out surgical procedures, dietary supplements, or
elaborate massage techniques of unproven value. The
dont’s for cellulite are salt, fatty acids, red meat, full fat
dairy products, refined carbohydrates, junk food, etc.
On the other hand, the do’s list contains more water
consumption, fresh vegetables, raw fruits, bottom
brushing, etc.

The dry brush massage technique helps keep skin
pores open and stimulates circulation in underlying
tissues. Bottom brushing can be done in the morning or
evening. Take a natural bristle brush, start from your
feet and with a long motion work upwards in circular
movements. Effects of bottom brushing can be better
felt by alternating between hot and cold shower, also
called ’skin gymnastics’.

Remember, cellulite is an issue of having too much fat
and too little muscle. Right exercise program can
produce big changes in your cellulite situation and
major improvements in your appearance.]]>

By: S. Lieberman

Warning signs of debt problems

1. You do not have any savings.

2. You make minimum payments on your credit cards.

3. You use credit cards for things you used to buy with cash, such as groceries.

4. You use increasing amounts of your total income to pay off debts.

5. You have more than two or three major credit cards.

6. After you pay your credit card bill, you increase your balance by the same amount (or more) the following month.

7. You are at or near your credit limit on your credit cards.

8. You count on the float in order to pay your bills, writing a check hoping that you’ll be able to cover it by the time it clears your bank.

9. You are unsure of the total amount you owe on all your debts.

10. You take out cash advances on your credit card to pay other bills.

11. You have tried to make a purchase with your credit card and been declined.

12. You have been denied credit.

13. You bounce checks.

14. You get calls from collectors.

15. You lie to your spouse or other family member about your spending, hide credit card statements or constantly argue with family members about your finances.

If you realize that you are in over your head, the sooner you act, the easier it will be to get out from under the burden of debt. Beware of companies that promise to fix your credit. There’s no easy fix, but it is possible to turn your finances around if you work at it.

Here are some other warning signs that you might be piling up too much debt:

You cannot pay off the bill in full each month. Even before you get to the stage where you’re only paying the minimum, there are warning signs. If you rarely see your credit card balance drop to zero, you need to start rethinking your spending/saving plan.

You are charging because you do not have the money. If you are making purchases with your credit card because you cannot afford to pay cash, that is a strong sign you are in financial trouble.

You are near or at the limit with your credit cards. You have spent yourself into a corner, and the credit you need to buy necessities for everyday life is used up.

You are suffering physically and/or emotionally. Your brain is recognizing that your spending patterns are in conflict with your income and your anxiety level increases.

You are running up unsecured lines of credit. Many institutions offer lines of credit or overdraft protection on checking or savings accounts. If you are utilizing these services on your accounts month to month, then you have a problem. Because these services usually have a cost associated with them, they can be expensive every time they are used. These services were initially meant to help with short-term liquidity issues, not relied upon every month.

You are living paycheck to paycheck. You do not know which bill to pay first.

If you or your spouse became unemployed, you’d be in financial hot water. This is another indication that you’re living month to month, and a sign that you have no savings as a reserve. You need to build up that savings account.

All you can pay are the minimums. Whether you earn $25,000 or $250,000 a year, this is a sure sign of financial trouble.

You are using future money to pay current bills. Borrowing from next month’s income to pay last month’s bills is a good sign that you’re in over your head.

You are always in a jam financially. If it seems like you are always in a financial crisis, then you’re definitely above your debt comfort zone. Scale back and build some savings.

You are denied credit — or asked to obtain a co-signer. If you have established credit and now creditors don’t think you have enough money to repay them, chances are you don’t.

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There are rumors and opinions that the Las Vegas real estate market is heading for a crash. I beg to differ. I agree that the rise in rates has not been as high lately as it was in the dizzy days of the past two years, but that is because certain projects were overpriced and if there is a drop, it is only making the prices more realistic. Investors in Las Vegas properties will still make a decent profit because the number of people coming to Las Vegas is only increasing everyday. Las Vegas real estate investors should expect a lower rate of appreciation compared to the last two years.

Nevada has shown the fastest population growth in the nation for the past eighteen years and in 2005, about 7,200 people moved here every month making that almost 86,500 in just one year. The number of tourists in 2005 touched a staggering 40 million.

The economy is booming here because of tourism and the construction jobs available. A growing economy and population will continue to drive real estate prices upward. Inflated prices have created a demand for housing under $200,000 and there are over thirty high-rise condominium projects currently under construction. This has also led to the conversion of 15,000 apartment units to condos. Out-of-town buyers will pick up most of these condominium units that range in price from the low $200,000s to several million dollars.

The high-rise development has not had a direct affect on the local housing market. The strong economy has seen to that but the dramatic increase in price of starter homes has resulted in many young families and retirees seeking rented accommodation. The city has a growing labor force of construction workers and workers to fill new positions in the growing entertainment and hospitality industry. Most of them seek rental housing at least to begin with. There is an acute shortage of apartments in Las Vegas and apartment demand is expected to increase rapidly. One of the most incredible rises in the real estate market was the 346-unit apartment complex that sold for $12,750,000 in April of 2004 and then resold in January for $40,500,000.

There is very little land available for development in the central part of Las Vegas and if you are working in the city, you may not want to move too far out. In east central Las Vegas near Stewart Avenue and Mojave Road, you could find just what you are looking for in Cedar Village Apartments on East Cedar Avenue. This is a gated community with a gated entrance having remote controlled access. Security is further enhanced by the presence of foot patrol. The apartments range from one to three bedrooms and have large eat in kitchen, well equipped with dishwashers etc. The rooms are fitted with vertical blinds, air conditioning and free satellite TV. Most have either a balcony or a patio and there is laundry facility as well.

Common facilities include playgrounds, a swimming pool and hot tub and spa and there is convenient public transport as well. The only snag for animal lovers is that they have a no pets policy. Nevada Housing Division recommends the complex and assists in finances.
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