7 ways to Recession-proof your life!!
Good morning everyone!! So today i’ve found and came up with 7 ways to basically make sure you don’t go crazy during a recession if it was to ever happen again or even to start right now during our “recession”. So hopefully I can help you out to better Prepare yourself!!
- Have an emergency fund
- Always live within your means
- Have more then one source
- Have a long-term mindset with investments
- Be honest about your risk tolerance
- Diversify your investments
- Keep your credit score high
The best part about these 7 ways is that they won’t only serve you well during times of recession, but they will serve you know matter what’s going on in the market. But if you implement these financial strategies, a recession is less likey to have a significant effect on your financial situation.
Written by: Amy Fontinelle (author)
FHA HOPE For Homeowners
Finally FHA has introduced a new mortgage insurance program called HOPE for homeowners (H4H) program. Stating that certain borrowers facing difficulty in paying their mortgage s will be eligible to refinance into affordablr FHA-insured mortgages. The H4H program is efective for loans through Septmber 30, 2011…
So to all you homeowners, take full advantage of this today if refinancing is a problem for you!!
But remember to check out the link at www. fhainfo.com/hopeforhomeowners.htm just to make sure you qualify.
Happy Friday Everyone from RatesAreHot.Com – ABC’s of Refinancing!!
Happy Friday everyone!! I know everyone is always excited on fridays!! For today I’ve decided to give some information about refinancing and what it means to people. So below I’ll post up definitions and some helpful tips. Enjoy!!
- Refinancing – refinancing a mortgage means paying off an existing loan and replacing it with a new one ; There are many reasons why homeowners refinance; the opportunity to obtain a lower interest rate.
- Interest rate – The chance to shorten the term of their mortgage.
How do you know if you should refinance?
- Refinancing can be a great financial move if it reduces your mortgage payment, shortens the term of your loan or helps you build equity more quickly.
- can also be a valuable tool in getting your debt under control.
stay posted for more from RatesAreHot.com!! have a wonderful weekend!!
5 keys to Unlocking a better credit score!!
Hey everyone from RatesAreHot.com,
Have you been trying to get that dream house or dream car and just cant because of your credit ?? Well ive came up with 5 ideas that just might help you out. Check them out!!
1. – Pay more than the minimum
2. – Work out a plan
3. – Switch from credit to debit cards
4. – Cut up those store cards
5. – Add comments to your credit report
Hopefully if you try this..it just might help!!
Stay posted and well Keep you updated!!
“Main advantage of a FHA home loan!!”
The main advantage to a FHA home loan is that the credit criteria for a first time borrower are not as strict as Conventional Loans sold to Fannie Mae (FNMA) or Freddie Mac (FHLMC). Someone who may have had a few credit problems or no traditional credit should not have a problem obtaining FHA financing. Also, FHA home loans are assumable, allowing a person to take over the mortgage without the additional cost of obtaining a new loan. In addition, the seller or lender must pay for part of the “traditional” closing costs (called non-allowable costs) while a borrower’s allowable costs can partially be wrapped into the loan. The monthly mortgage insurance premium is cheaper for an FHA loan verses a conventional loan with 3% down. Finally, FHA loans may require less income to qualify.
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