Monday, May 19, 2008

What you need to know about VA Home Loan Programs and FHA Home Loan Programs

When you look at VA home loan programs in comparison with FHA home loan programs, you’ll find a lot of similarities. Both of these programs are trying to get many people access to affording mortgages with good terms. The big difference are the targets. The VA home loan programs are made to benefit people who have served in the military. But between the two programs, there are federal benefits available for home financing and each fill in the others’ gaps.

About VA Home Loan Programs

VA home loan programs are made for qualified veterans as part of the benefits extended after serving in the military. But in order to qualify for a VA home loan programs, a veteran must meet specific criteria

• A veteran must have a Certificate of Eligibility from the Department of Veterans Affairs
•A veteran must have good credit (usually for the past two years) and an adequate credit score
•A veteran must have enough income to repay the loan
•A veteran must meet debt-to-income requirements as outlined by the VA home loan programs
•The home must be used as a residence after closing or renovations are complete

Some other individuals also have VA home loan programs available to them, including:

• National Guard or Reserve members who meet specific requirements
have not remarried
• U.S. citizens and their spouses who served with an Allied country during World War II

There are many advantages in part of these VA home loan programs, such as

• No down payment loans
•Competitive rates (regardless of credit history) for fixed and adjustable loans
• Flexible terms, lengthened terms and the right to prepay
•Forbearance in case of financial hardship
• Other protections and warranties against such things as inferior buildings and discrimination

But what about those people who don’t qualify or have limited or no military seruvce? That’s where they can turn from the VA home loan programs to the FHA home loan programs. Many people take advantage of the FHA home loan programs.

FYI: FHA Home Loan Programs

While there is little overt benefit of a FHA home loan program when compared to a VA home loan program, there are some. First, the FHA home loan programs are available to people who can’t qualify for a VA loan. Second, there is insurance for more than half of the loan through the federal FHA program, which you can’t get from the VA (something for vets to consider).

Among the other efforts offered by the FHA home loan programs are:

•Low down payments
• Adjustable payment options and term flexibility
•Government loan security, which helps get better terms
• Good interest rates and payments
•Refinancing options for existing FHA home loan programs borrowers

With either of the loan a borrower want to get, the VA home loan programs and FHA home loan programs help qualified would-be home owners. The flexibility of the VA home loan programs and FHA home loan programs help to find the home ownership which is available to all people, including the country’s veterans.

Author Info:

This article is provided by Access National Mortgage, based in Denver Colorado. Access National Mortgage provides progressive and superior financial solutions such as Alaska FHA home loan programs, Oregon VA home loan programs, debt consolidation loans, information about Washington FHA Refinance Benefits, and whole host of other mortgage product all across the United States.

Monday, May 12, 2008

Debt Reduction Tips That Work by Steve Hill

This credit crunch is hitting many of us hard. As well as rising mortgage repayments we also have to contend with higher fuel, food and commodity prices. Some would say that it is rather unfortunate that all of these increases seem to have come at the same time; others would argue that it is down right shameful. Many people are becoming deeper and deeper into debt with seemingly no way out, at least over the short term. So what can we do to reduce our debts during these most troublesome of times?

To put it bluntly, we need to curtail our spending of non essential items. The buy it now, pay later culture of the late nineties has to change. It is time to tighten and brighten up for those of us who are in debt. At this stage we need to be disciplined in what we do and do not buy. Forget the fancy clothes, electrical equipment and holidays.

Where possible we need to ensure that we make our debt repayments as to have an adverse credit history in these difficult times could well make obtaining credit impossible in the future. When making these repayments, do not just make the minimum payment as this is not likely, in the majority of cases, to reduce the debt, it is likely that you will only be repaying the interest. The idea is to pay as much each month that you possibly can as this is the only way that the debt will be reduced.

This is the time to take up a second job to help supplement our income. We need to ensure that we have more coming in than we spend per month on our outgoings.

When purchasing food items, look for bargains, only buy what you need and ensure that you always check your receipt, I am often amazed at how many errors are made, especially on the buy one get one free offers.

For those people who still find that the above is not enough to help reduce your debts it would be prudent to seek the advice of a debt specialist.

About the Author

Steve Hill is a webmaster from Birmingham, he has interests in a number of websites including: stuttering UK debt specialist cheaper calls to mobiles

Saturday, May 10, 2008

Settle your unpaid debts with unsecured debt consolidation loans

Financial service providers and banks have now become very lenient and client friendly; they are offing variety of luring schemes and proposals with best financial benefits. However, this leniency is limited only till the client is honest for the contract terms, as the client can also be doomed to insolvency in case not repaying the loan amount. In spite of everything, they are there in the market with a purpose to earn profit and clients who cannot give them business and lead will never be entertained by them. Due to lenient and flexible terms of loan schemes, bankers are offering people with loans to consolidate their due debts. There are many loan schemes that are especially tailored for such people who are struggling to pay-off their due debts; unsecured debt consolidation loans are one of these finest schemes that offer everyone an excellent opportunity to live a debt free life.

There can be many personal and technical reasons for defaulting but usually people trap in to the sequence of debts just because of their slipshod attitude towards due debts. However, no matter what is reason behind your bad debts, unsecured debt consolidation loans have equal facilities for every defaulter. Typically, people do not understand that ignoring their debts and due bills can throw them into a very critical financial condition i.e. insolvency; moreover their assets can also be foreclosed by the concerned bank that can even leave them homeless. If you are like those people who ignore their due debts just because lack of proper knowledge about financial issues then recognize the value of being debt free as for a minor ignorance of you debts you may have repent for lifetime. As a result bankers may deny providing you loan or any other financial service therefore awake, arise and apply for unsecured debt consolidation loans for getting rid of bad debts.

Unsecured consolidation loans offer most delighting loan terms so that you may be able to repay your all previous loans. Ignorance of due debts may lead to any legal action against you therefore it a good option to take a loan for consolidating your due debts as it can also help you in re-establishing your financial position. You must be thinking that why a bank would like to make such a high risk deal as it know that the borrower is already struggling to repay his or her previous loans. Of course, this was also a million dollar question for bankers when they initially planned to launch any such scheme.

If truth be told, this was an excellent decision that bankers ever made; certainly these loans are equally beneficial for bankers as it help them in developing a bond of trust with their clients. Consequently, every person who is associated with any of such bankers will never decide of going for any other bank to have financial services. With unsecured consolidation loans they perfectly share that bond of trust with their clients so that both may move towards a better and financially strong future.

Author Info:

Gilbert Imlay is a financial advisor with years of experience and specializations in Unsecured loans, unsecured debt consolidation loans and Bad credit unsecured loans. If you have any queries you could visit

Wednesday, May 7, 2008

Get the much required financial freedom through debt consolidation

Debt consolidation is a great hand-out for people swimming in the ocean of debt. Modern life has increased the comforts and also debts of an individual multiple times, making it necessary to keep maximum number of credit cards, outstanding home loan, consumer loan and car loan. To accommodate expenditure of all the loans and making at least minimum payments out of the limited income is a great challenge and causes great agony to many people.

Debt consolidation is the easiest and best option to get out of the debt. Debt consolidation paves the way to pay off small loans from a bigger loan. Debt consolidation brings back the lost smile in the face of a person who is suffering from bad credit. The people who chose debt consolidation also seek happiness in their lives. Debt consolidation lifts the heavy burden of debt from the shoulders of the individual and brings back happiness and peace.

In debt consolidation one single payment of loan eases the burden of complex multiple payments of various loans. In the contemporary society, an individual has to make payments to multiple creditors every month. Making a single payment is not that much strenuous as remembering the due date and making the payment can be done easily. But, if a person has to make multiple payments, then it becomes difficult to remember and hence the person may get bad credit history. So, for appropriate financial management, they can depend on debt consolidation process.

Debt consolidation also reduces the amount paid as interest considerably as the interest is paid only on a single loan and also the rate of interest is always less when compared to personal or credit card loans. Second mortgage, also called as Home equity loan is the most widely accepted and popular kind of debt consolidation loan available in the market today. Mortgage demands prompt repayment and when the payment is not made on time the borrower gets a bad credit. On the other hand, credit card loans come under unsecured loans. Here, the lender provides money on the basis of one’s credit history. So, to cover the risk, the rate of interest is generally kept higher than the other loans.

The special feature of debt consolidation is the low monthly payments and long tenure which is not available in smaller loans. In personal loans, a considerable amount has to be paid every month towards repayment and also the tenure will be short. Also, dealing with a single creditor is quiet trouble-free and this also clear communication is possible in case of grievances or issues with the creditor. Also, one can always avoid default and misunderstanding with proper communiqué. All that is required is to make a single call to the creditor to solve any matter that may require immediate attention.

Even you can claim tax exemptions from some type of mortgages whereas a credit card or personal loan cannot offer this benefit to the borrowers. Taking a consolidated loan is an easy load to shoulder compared to complex handling procedures of multiple loans. But, the benefits of consolidated loans vary from one individual to other and are not equal for all. So, a realistic analysis of tangible benefits is important to decide the amount of advantage one will get from the debt consolidation process.

Author Info:

Travis Newman writes articles on Non Profit Nationwide Credit Counselors. He also writes articles about Debt Consolidation, Debt Relief, Credit Card Consolidation, Bill Consolidation and Debt Free. For more visit or call +18779940998

Monday, May 5, 2008

"He who goes borrowing , goes a sorrowing"

"You have debts and make debts still,
If you've not lied, lie you will."

Debtors can hardly help being liars, for they promise to pay when they know they cannot; and when they have made up a lot of false excuses, they promise again, so they lie as fast as a horse can trot.
"A hundred years of regret Pay not a farthing of debt."
Now I'm afraid all this sound advice might as well have been given to my master's cocks and hens as to those who have gotten into the habit of spending what is not their own, for advice to such people goes in at one ear and out at the other. Well, those who won't listen will have to feel, and those who refuse cheap advice will have to buy dear repentance; but to young people beginning life, a word may be worth a world, and this shall be John Ploughman's short sermon, with three points to it: always re a little below your means, never get into debt, and remember,
"He who goes a borrowing
Goes a sorrowing."

Saturday, May 3, 2008

save money through debt consolidation loans

In simple words, Secured debt consolidation loans enable the person to lead a debt free life
If you have trapped in the cobweb of debts, it’s time to get the freedom. Personal debt consolidation loans are here to help you with all its sound features. These loans help you to get rid of your multiple debts and gifts you a stress free life. Here is a brief analysis of personal debt consolidation loans.

Personal debt consolidation loans convert your multiple debts in to one single debt. These loans give you the chance to be answerable to only one single lender instead of several lenders. Add to this a mental satisfaction, which you get by not attending the annoying and irritating phone calls from your earlier lenders.

Personal debt consolidation could be accessed both in secured and unsecured form. To access secured debt consolidation loan, you need to place any of your property as security against the loaned amount. Now if you do not want to place any kind of security or if you are a tenant, go for unsecured debt consolidation loans.

With the help of these loans you get the flexibility to pay a lower rate of interest. These loans can be accessed by both good and bad credit holders. Moreover here a bad credit holder gets a chance to improve his credit score also.

You can access personal debt consolidation loans from several loan lending organization, banks etc. But the most trusted form of getting these loans is online method. Here you can meet several trusted lenders of your choice. You can compare their loan quotes with loan calculators; comparison tools etc and in this way you can easily select a lender of your choice.

Considering all these, personal debt consolidation loans can be rightly entitled as best financial assistance to combat against debts. These help you to remove your debts and most importantly give you mental satisfaction.

Author Info:

Rick Russel has no formal degree in finance, but years of work that he has put in the finance industry makes him perfectly eligible to be called an expert in financial matters. To find Personal debt consolidation loan, Debt consolidation secured loan, Debt consolidation UK, Secured Debt Consolidation Loans visit

Saturday, April 26, 2008

Escaping Debt

if you are struggling in what feels like a debt trap, try these ten steps to escaping the yoke. All it takes is a commitment to be consistent and disciplined. It�s not that hard, people do actually manage to get this crazy monkey from their backs, and you can too!


Stop spending now. Only buy what is essential, do whatever it takes. Pack lunch for work instead of visiting the deli and watch TV instead of going to the movies. Live like a pauper.

Step 2

Do some math and stuff. How much debt, exactly, have you built up? This can be a stressful part of the fight, but you must know your enemy to be battle ready!

Step 3

Set a target. You need a goal to work toward. Try working on a plan to pay off the debt over three years. See if you can do this by allocating a fixed amount of your salary to debt relief. If you can�t manage three years, try four. The sooner you get rid of the debt the cheaper it will be though, so try to push for the shortest realistic timeframe you can.

Step 4

Plot out your repayment plan on a piece of paper. This means finding the money for repayments from your monthly budget. If you have not worked out a budget, do it NOW. Having a working budget can help you tremendously. Make a list of all your expenses and include the amount you are allocating to your debt relief campaign. Remember to keep money aside for unforeseen problems, like paying for the car�s service or replacing a broken window. You can save while you are repaying your debt, in fact it is vital that you have some savings in case of a problem, otherwise you could be sent even deeper into debt.

Step 5

Now that you have you budget all planned out, make sure to keep track of every penny you spend. You need to work your budget; otherwise it will be of no practical benefit to you.

Step 6

Kill the big debt first. Make sure you eliminate the debts with the highest interest rates first, as it is the interest that really sucks your blood.

Step 7

Don�t miss payments, because you will probably be penalised. Making your troubles all the worse. Make sure that you are aware of the interest rates and if you are unsure of anything just call up the company you owe and ask them. Find out if there are options which can reduce the interest rate you are paying.

Step 8

Pay more than the bare minimum if at all possible, since this will cut down on the interest you will be paying.

Step 9

Accept that it will take time to become debt free. It will take time. Make peace with it.

Step 10

One day when you have paid it all off you will have become accustomed to living according to a budget and will probably be more disciplined than ever before. Why not channel the new found discipline into saving and investing, thereby fully reversing your financial habits and building toward financial freedom!

MensLifestyle is a site for men who are looking to live a lifestyle of health, wealth and adventure. The idea is to bring together the tips, tools and products that will help you make more money, live healthier and enjoy your life that much more.