Use Debit Cards

By Paul J. Easton

Have you ever been advised to choose using a debit card instead of your credit card? In this time of economic meltdown, your debit card might be a choice when it is time to cut up those credit cards.

Your bank ATM card, if with the Visa or MasterCard logo, is a debit card. By using debit cards as the substitute of your credit cards, you will not be anticipating for bills that have to be paid at the end of each month. You might not earn points with your purchases but you will not be tempted to spend more. This is because you can only use your debit card if you have enough money in your account for the purchase.

Debit means to subtract. So the purpose of your debit card is to subtract money from your bank account each time you use it. Debit cards have several advantages like the credit cards. You can use it as an ATM card to withdraw cash from your bank account. It is convenient and accepted almost anywhere. And most importantly, debit cards will likely reduce your spending spree.

By choosing a debit card, you don't have to be concerned about making regular payment with your credit card. It eliminates the interest rates and your late penalties in case you forget making a payment on a due date. For now, a debit card will likely replace your credit cards.

So get your credit cards from your wallet and cut it up. By doing this, you will have no choice but to stop using all your credit cards starting today. This is very vital for now for you not to get deeper in trouble.

By deciding to live off of the income you bring home, you show some commitment to temporarily sacrifice towards being debt-free in the future. Rather than depending on the credit cards that were previously residing in your wallet, you make the solid move of getting the temptation away. Be debt-free now with these tips on how to get rid of debt here.

This is a very critical time in your life. Fighting that credit card debt is only effective if you cut off all the unnecessary distractions. By ditching the credit cards off, you make yourself relieved of the lure of getting back in the habit of spending more than your financial capacity. By using your debit card and working hard enough to pay the bills on time, you will definitely be in good financial shape in the future. Thanks to your debit card, the credit card substitute saved your financial life.

For information on how to get rid of debt, go to http://www.Howtogetridofdebt.net/ by Paul J. Easton.

About the Author:

http://www.Howtogetridofdebt.net/

Thinking about Houston Condominiums

By R. Kim

The largest city in Texas and fourth largest city in the entire United States is Texas Houston. Houston is a great place for your new home. There are many attraction and entertainment in Houston, NASA Space Center, museums galore and downtown aquarium makes living in Houston a good experience.

Houston is just a one hour drive from Galveston and the Gulf of Mexico. Just 20 south of downtown Houston is where the Battle of San Jacinto took place and Texas won its independence from Mexico.

When it comes to choosing a home in Houston, you want to research all of the available options. One options will be Houston condominiums. Whether your renting or buying, a condominiums is convenient and care free option. From luxurious downtown high rise condos to a modest suburban home, you will find the right option for all your needs.

The average selling price of Houston condominiums is about $220,000, but the price has declined in recent years as the economy is in recession. You can find an condo for around $60,000, but some of the luxurious condos will go into millions of dollars.

If you do not want home ownership, you can rent a rental condo. There are many condos available to be rented out. The average monthly rental price is around $1,102, but they range from $600 to four or five thousand dollars depending on the size and location of the condo. This is a good option if you do not have enough money for down payment or if you cannot get a mortgage.

With population of nearly three million, the job market is viable and the home market is not as weak as rest of the country. There is also lots of entertainment and activities for you family to enjoy. Texas a friendly state and you can feel the southern hospitality from your neighbors. A Houston condo will be waiting for your occupancy.

About the Author:

Before purchasing a Houston condominiums, please review Houston Condominiums, and Houston Condominiums

Stated Income Credit Lines

By Pat Johnson

People who get most of their income from commissioned sales or own their own business often have a very difficult time being approved for credit. When they go to apply for a mortgage or line of credit, they are met with resistance by the bank, because they can not provide supporting documentation of their annual income. Lenders have recently addressed this problem, by introducing stated income credit products.

If you want to borrow against the equity in your home you may be eligible for a stated income line of credit. The lender will not require you to provide proof of your income, but instead will take your word for it. Then, once approved, they account will be administered like any other.

It is a common business objective to strive to keep taxable income as low as possible by deducting eligible expenses. This is at odds with lenders who like to see as big an income as possible. They more income the easier it is for the borrower to service their total debt. Stated income credit products solve this.

The lender does not ask to see pay stubs, W2s or other income documents. What they require instead however is very strong credit. Your credit rating needs to be well above average to offset the additional risk the lender takes by not verifying your income.

Interest rates and fees on stated income loans are often greater than on usual loans. This helps to offset some of the increased risk the lender takes as well. All in all, however they are by no means excessive.

Some financial institutions will also put criteria on how long the applicant needs to have been in business. The may also include other factors such as payment shock, where the new payment can not be more than fifteen percent of your existing shelter payment. Essentially, because they are opening themselves up to additional risk by not verifying income, they endeavor to ensure that you are as strong as possible in all other areas of the approval criteria.

So there are options out there if you are self employed for getting home equity lines of credit. Be sure to contact your local mortgage lender and see if they offer stated income products. If not you can search online for one who does are consult with a mortgage broker. Regardless of your choice, just be aware there are options.

About the Author:

If you are self employed, get more information on the stated income equity line at Pat's mortgage website.

Home Equity loan facts

By Doc Schmyz

Home equity loans are a great source of cash. However, before you plunge right into the process of drawing out a loan out of the equity of your property; you should take a look at the fine print and what it means to you.

Are you debating on getting a home equity loan? Home equity loans might be an easy to acquire type of loan, but somehow even a seemingly great deal might turn out to be bad if the process of getting one is not done right.[I:0:J]

What areas of home equity loan do we need to know? Let us look at the following.

Points

How are you affected by this? Most lenders charge a part of the loan for commissions for themselves and for their sub-agents. Actually such points vary from little to exorbitant; it all depends on the company. If you are charged 1 point, this would mean 1 percent of the loan. And so 1 percent of a 100,000 dollar loan is an up front charge of 1000 dollars. Do not worry, there are lenders that do not charge points.

Loan "rate" terms

It it a fixed or variable loan. A fixed rate means you pay the same amount every month for the life of the loan. But on the other hand, if you have variable type of loan, you may actually have an initial good interest rate. Interest rates that go up naturally makes your monthly payments go up too in the process. So what do you want " a home equity loan with interest rate that stays the same all throughout the duration of the loan, or one with the possibility of going up anytime? Understand that more often then not, a variable loan starts out one or two percent lower then a fixed rate. The big question is where does it stop once it starts to adjust?

Pre Payment penalties

Pre payment penalties are a fee that the lender places on you in the event you decide to pay of your loan early. These "pre-pays" can cost several thousand dollars in some cases. The reason for this is that by paying off the loan early, the lender will be missing out on the intrest payments you have agreed to pay over the life of the loan. (these interest payments are normally in the several thousands of dollars)

Late payment penalties

Does a home equity loans interest rate go up with late payments? With many lenders, with delinquent payment, penalties usually follow. More so, there sometimes is a clause on default interest rate increase in the loan which raises automatically the loan rates when payments are late. This can actually be costly for the borrower.

Insurance

You have to check if the home equity loan that you are prospecting has insurance costs hidden somewhere, a cost that you definitely do not want. Whenever you get a loan, you can take in corresponding credit insurance. You can have credit life insurance, which takes care of your loan in the event that you die. However, if in the case of home equity loan, if you feel that insurance is just added cost, then by all means avoid the lender that requires you to pay for them.

About the Author:

Doc Schmyz has invested all over the US. He built a free free website shares Real estate investing information for all over the US. Find Real estate investing information by state

College Students: How to Protect Yourself from Identity Thieves

By Daniel Z. Kane

You might think that identity thieves focus entirely on the wealthy, but the reality is that 34% of the victims of identity theft are college students. College students can be easy prey because they don't know how to protect themselves against identity theft, because so many records and documents include personal information about them, and because of the phenomenal amount of junk mail offers...especially from credit card companies...they receive.

To protect themselves against identity theft, students and parents can use these tips, offered by LifeLock CEO Todd Davis. LifeLock is the nation's first identity theft prevention service for individual consumers.

1. Before going off to campus, students should purchase a shredder and use it to destroy anything they may throw away that contains personal information about tem; report cards, financial aid forms, housing information, class schedules, etc. A good rule for students: if you aren't going to keep it in a secure file, shred it!

2. Residence hall rooms and student apartments often have lots of folks in them, including some relative strangers. That's why it makes sense to password protect computer files and secure documents which include your personal information. Remember, it takes only one untrustworthy person to steal your identity and cause you years of trouble.

3. Parents...college students won't order or check credit reports. So, do it for them. Before the first semester starts, parents should have their students order free credit reports to be sent to their homes. Parents can then check the reports for accuracy and identify any potential problems. Major credit bureaus are required by law to give consumers one free credit report a year. If you discover a problem on a credit report, investigate further. Be aware that checking your credit report won't prevent thieves from opening new accounts in your name, but it is a good start.

4. Because so many social security numbers and personal files are lost to indentity thieves, students should take steps, in advance, to protect themselves if their confidential information is breached by identity thieves.

5. Opt out of all junk mail, as soon as possible. Identity thieves can steal credit card offers from your mailbox or garbage (if you fail to shred), fill in the applications with your name and their address, and charge thousands of dollars of goods and services to you. It happens every day.

6. You can contact the major credit reporting services to initiate fraud alerts which means you will, at least in theory, be contacted before anyone is able to open a new account in your name. You must renew these alerts every 90 days, or you can hire a credit protection service to take care of it for you. Some such agencies will actually compensate you if anyone successfully steals your identity. One agency offers a guarantee of up to $1 million.

Taking a bit of time and exercising some caution to prevent identity theft is well worth the effort. Protect yourself by being cautious, aware, and alert.

About the Author:

Daniel Z. Kane is a university dean who advises students on online college degree programs and online degree programs.