There are some essentials about student debt consolidation than anyone considering unifying and reducing student debt should be aware of. Since not all debts are similar not al debts can be consolidated by the same means. Moreover, there are little variations that can alter the results significantly and save you a lot of money. Thus, it is important for you to know these basics about student debt consolidation.
Consolidating Federal Student Loans
Federal student debt consolidation is usually done through another federal student loan. This new loan combines the outstanding loans into a single loan and locks the interest rate. The benefits you can obtain by means of this type of consolidation are significant as all these loans are subsidized which implies low rates. If the rate is locked, this implies that you will have the same monthly installments for the rest of the repayment program while your income may improve.
Private Student Debt Consolidation
Private student debt consolidation is also done through a debt consolidation loan. However, this new loan will be a private loan. Though most of these loans are also subsidized, the interest rate charged may be higher than that of federal loans for students. As to the requirements for approval, provided that you are up to date with the payments there will not be a problem with approval as you are already showing that you can repay debt with higher monthly payments. However, if you have defaulted on a loan or have late or missed payments, you will have more difficulties during the qualification process.
Consolidating PLUS Loans
PLUS loans are awarded to parents and thus, these loans need to be consolidated separately from the loans awarded to students. However, it is possible to consolidate them jointly if both co-sign the same consolidation loan. However, this is not a common solution as the nature of the debts is different too and thus it is not always advisable to consolidate both debts simultaneously. Nevertheless, it can be done and sometimes, either the parents or the graduated student, choose to consolidate through a home equity loan and unify all student debt and consumer debt into a single loan.
Joint Consolidation Of Federal Loans And Private Student Loans
This is a particularly complicated issue. Private student loans can not be included in federal consolidation loans due to obvious reasons. However, federal student loans can be included in private consolidation without difficulties. However, is it advisable to do so? Generally, No. This is due to the fact that federal loans are subsidized loans and carry low interest rates while only some private student loans are subsidized and even those which are still charge a higher rate than federal loans. Thus, by consolidating, you would be turning an otherwise cheap debt into a more expensive one.
Higher Debt, Lower Payments
Of course, if what you need is to bring some ease to your financial life and would benefit from lower payments, private student debt consolidation offers better chances of getting longer repayment programs and thus, lower installments so your debt becomes more affordable.
About the Author
Devora Witts is a certified loan consultant who instructs people regarding Consolidation Loans With Bad Credit and Bad Credit Personal Loans. To get aid with your financial situation you can visit her at http://www.badcreditloanservices.com
Read More..
Tuesday, June 16, 2009
How to Build Wealth: The Millionaire Mindset
My path to creating wealth started a long time ago, when I was a small child. You are probably familiar with the phrase, "We can't afford it!" In my early years, I definitely was! I was brought up in your average middle class American family. My parents didn't have a lot of money. We drove a big brown station wagon to school and dining out was only on special occasions. Like any child, there were always things that I wanted that cost money. In our family, when I wanted something, the usual answer was, "We can't afford it." Well, being a strong willed first born child, that answer didn't work for me.
I have been in business all of my life. I started my first business at the age of 12, sharpening chain saw chains for equipment rental stores, but I didn't always know how to create wealth. It took me 16 years to finally become a millionaire at the age of 28. It was a long, hard, grueling process and it didn't happen by chance. Although I didn't know immediately the correct recipe to quickly create wealth, something I did have was the right mindset. Both your short term and long term goals need to be the creation of wealth. It is only when you attune yourself to this mindset that you will start to be successful in your goal.
After becoming a millionaire, I began to look at what was next. I thought billionaire by the age of 40 sounded like a good goal; something that would make me stretch a little. So I started to study billionaires and how they think because it is how a person thinks that determines their results and if I began to think like a billionaire then there is nothing that could stop that from coming into reality. From this education, I have boiled down all the financial information and wisdom that I have ever received into two foundational building blocks:
1. Get access to Capital
2. Invest it Wisely
If you master these two building blocks, then there is NO LIMIT to how much wealth you can create. But you will need to master both to become a successful wealth builder.
How you think and feel about money has everything to do with whether money flows into your life and stays there. 95% of people who win the lottery lose the money within two years. They don't have the right mindset to keep the money. Whereas, individuals who have the right mindset, even if they loose all of their money, have the skill set to create it again and many times at even greater levels than before.
About the Author
Chris is a highly sought-after self-made millionaire with a knack for creating passive income investments. Starting his first business at 12, he knows what it takes to build a successful business.
Chris Wise
720.524.3907
connectwithchriswise@gmail.com
CreditlineMillionaire.com
YouTube.com/ChrisRWise
Read More..
I have been in business all of my life. I started my first business at the age of 12, sharpening chain saw chains for equipment rental stores, but I didn't always know how to create wealth. It took me 16 years to finally become a millionaire at the age of 28. It was a long, hard, grueling process and it didn't happen by chance. Although I didn't know immediately the correct recipe to quickly create wealth, something I did have was the right mindset. Both your short term and long term goals need to be the creation of wealth. It is only when you attune yourself to this mindset that you will start to be successful in your goal.
After becoming a millionaire, I began to look at what was next. I thought billionaire by the age of 40 sounded like a good goal; something that would make me stretch a little. So I started to study billionaires and how they think because it is how a person thinks that determines their results and if I began to think like a billionaire then there is nothing that could stop that from coming into reality. From this education, I have boiled down all the financial information and wisdom that I have ever received into two foundational building blocks:
1. Get access to Capital
2. Invest it Wisely
If you master these two building blocks, then there is NO LIMIT to how much wealth you can create. But you will need to master both to become a successful wealth builder.
How you think and feel about money has everything to do with whether money flows into your life and stays there. 95% of people who win the lottery lose the money within two years. They don't have the right mindset to keep the money. Whereas, individuals who have the right mindset, even if they loose all of their money, have the skill set to create it again and many times at even greater levels than before.
About the Author
Chris is a highly sought-after self-made millionaire with a knack for creating passive income investments. Starting his first business at 12, he knows what it takes to build a successful business.
Chris Wise
720.524.3907
connectwithchriswise@gmail.com
CreditlineMillionaire.com
YouTube.com/ChrisRWise
Read More..
Monday, June 15, 2009
Your Guide to Reliable Property Management In North Carolina
If you own property or are considering property ownership, you might be frightened by the management portion of the business. Are you going to handle all of the work and repairs yourself? Or would it be better if someone else could do it for you. If you're planning on having more than one or two properties, finding a good property management company is essential to your success. Do you really want to be fixing someone's toilet at 3:00 a.m.? If not, then you need to find a good property manager. How do you go about finding someone that you can trust? Let's look at the necessary steps to find hassle-free property management. The first step in your search should be to ask around. If you have any friends or family members that have a property manager, ask them who they use. Usually referrals are the safest way to go, because you actually know someone who has used their services. Your friends and family are on your side and will steer you in the right direction most of the time. If you don't know anyone that has any property, the next step would be to go to www.irem.org. This will allow you to determine if there are any certified property managers in your area. If you're going to have someone watching your properties for you, you'll want someone that has been certified in property management.
In addition to this resource, you should probably check with the Better Business Bureau in order to find any complaints. If your prospective property manager has a lot of complaints against them, it doesn't really matter if they're certified or not. You don't want to get involved with them. Once you find a prospective management company, drive around some buildings that they manage and investigate them for yourself. Do they look like buildings that you would be proud to own? Is the outside of the building kept well? Is the lawn mowed? You can tell a lot about a management company by looking at the buildings that they run. If you've narrowed down your search to a few different companies, interview the remaining options. Sit down with the owners of the property management company and see what they have to say. What sets them apart from any other company? Are their rates competitive with others? Do they have any services that other companies don't? These are all things that you'll want to find out ahead of time. Once you decide on a property management company, make sure that you get everything that you need in writing. A good property management contract can help avoid a lot of mishaps in the future. Who will be collecting rent? What are your policies going to be about late payments, evictions, etc. There should be no gray areas in regards to anything. Make sure that everything is spelled out as clear as day. After you feel good about a contract with a property manager, go for it! Your life will be much easier because of it. No longer will you have to worry about the day-to-day operations of property and you can just sit back and collect the checks.
About the Author
William Douglas Management has been providing quality association management services to North Carolina and South Carolina since 1980 focusing on Homeowner and Condominium Owner Association Management .
Read More..
In addition to this resource, you should probably check with the Better Business Bureau in order to find any complaints. If your prospective property manager has a lot of complaints against them, it doesn't really matter if they're certified or not. You don't want to get involved with them. Once you find a prospective management company, drive around some buildings that they manage and investigate them for yourself. Do they look like buildings that you would be proud to own? Is the outside of the building kept well? Is the lawn mowed? You can tell a lot about a management company by looking at the buildings that they run. If you've narrowed down your search to a few different companies, interview the remaining options. Sit down with the owners of the property management company and see what they have to say. What sets them apart from any other company? Are their rates competitive with others? Do they have any services that other companies don't? These are all things that you'll want to find out ahead of time. Once you decide on a property management company, make sure that you get everything that you need in writing. A good property management contract can help avoid a lot of mishaps in the future. Who will be collecting rent? What are your policies going to be about late payments, evictions, etc. There should be no gray areas in regards to anything. Make sure that everything is spelled out as clear as day. After you feel good about a contract with a property manager, go for it! Your life will be much easier because of it. No longer will you have to worry about the day-to-day operations of property and you can just sit back and collect the checks.
About the Author
William Douglas Management has been providing quality association management services to North Carolina and South Carolina since 1980 focusing on Homeowner and Condominium Owner Association Management .
Read More..
Main Difference between Lease Option and Lease Purchase
When dealing with real estate and you are looking at options in the leasing space, it is important to understand the various terminologies like lease option and lease purchase agreement, so that you are not missing anything and are able to use the different formats available to your advantage.
Let us first understand how a lease purchase agreement is different from a lease option.
Though both of them are used very frequently and often interchangeably, they are different in the way they are structured and require different agreements.
A Lease Option is one where as a tenant, you have the option but not the right to buy the said property and that can happen only if the owner also decides to sell the property. It is not binding upon the owner to sell the property to you and it is his prerogative to do what he wishes to do with the property.
On the other hand, in a lease purchase agreement, the tenant is required to buy the property before the agreement expires. Since this is a bilateral agreement, both the interested parties have to perform their part of the agreement. This kind of an agreement is drawn out when the buyer is unable to become eligible for a mortgage and the seller is also intending to ultimately dispose off the property.
Often people get confused with the Installment Land Contract term and think that it is some kind of owner financing that permits the transfer of the title of the said property to the purchaser only after he has made good the entire amount. The understanding is till that time, the property remains in the name of the owner. However, an appropriately drafted agreement will ensure that the tenant is being given the flexibility to only availing of the property on rent till the termination of the agreement.
So, what is the commonality in a lease option and a lease purchase agreement?
When you see the term "tenant buyer", you must interpret it as another term for "lessee" and is used only as a layman's term and cannot be used in the actual agreement.
There are two parties involved - the owner or lessor and the tenant or lessee. Some cases may have more than two parties if the lessor has involved a property management consultant to manage the property. In this case, the tenant or lessee will have to draw up two agreements - one that is a rental agreement with the property management company and one that is a lease purchase agreement with the owner or lessor.
It is to be noted that in both the agreements, the tenant will be typically paying an amount that is definitely more than the market price at that point in time. That will enable a part of the monthly payment to be adjusted against the purchase or towards the monthly installment if a mortgage has been entered into.
In the event that the tenant is not able to buy the property, the monthly payments already made will not be refunded. In fact, the tenant would be considered a defaulter in this case for his failure to buy the property.
About the Author
To understand and learn more about Lease Option and Lease Purchase Agreement, please visit http://www.leasepurchasemadeeasy.com
Read More..
Let us first understand how a lease purchase agreement is different from a lease option.
Though both of them are used very frequently and often interchangeably, they are different in the way they are structured and require different agreements.
A Lease Option is one where as a tenant, you have the option but not the right to buy the said property and that can happen only if the owner also decides to sell the property. It is not binding upon the owner to sell the property to you and it is his prerogative to do what he wishes to do with the property.
On the other hand, in a lease purchase agreement, the tenant is required to buy the property before the agreement expires. Since this is a bilateral agreement, both the interested parties have to perform their part of the agreement. This kind of an agreement is drawn out when the buyer is unable to become eligible for a mortgage and the seller is also intending to ultimately dispose off the property.
Often people get confused with the Installment Land Contract term and think that it is some kind of owner financing that permits the transfer of the title of the said property to the purchaser only after he has made good the entire amount. The understanding is till that time, the property remains in the name of the owner. However, an appropriately drafted agreement will ensure that the tenant is being given the flexibility to only availing of the property on rent till the termination of the agreement.
So, what is the commonality in a lease option and a lease purchase agreement?
When you see the term "tenant buyer", you must interpret it as another term for "lessee" and is used only as a layman's term and cannot be used in the actual agreement.
There are two parties involved - the owner or lessor and the tenant or lessee. Some cases may have more than two parties if the lessor has involved a property management consultant to manage the property. In this case, the tenant or lessee will have to draw up two agreements - one that is a rental agreement with the property management company and one that is a lease purchase agreement with the owner or lessor.
It is to be noted that in both the agreements, the tenant will be typically paying an amount that is definitely more than the market price at that point in time. That will enable a part of the monthly payment to be adjusted against the purchase or towards the monthly installment if a mortgage has been entered into.
In the event that the tenant is not able to buy the property, the monthly payments already made will not be refunded. In fact, the tenant would be considered a defaulter in this case for his failure to buy the property.
About the Author
To understand and learn more about Lease Option and Lease Purchase Agreement, please visit http://www.leasepurchasemadeeasy.com
Read More..
Subscribe to:
Posts (Atom)
