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Improving housing markets could boost refinance option

October 29, 2011 – 4:08 pm

 

Two new surveys show that housing markets could be improving in the coming year. If you live in one of these areas, rising home values could provide the boost you need in home equity to qualify for a new mortgage at a reduced rate. While you wait for home values to rise, you should also be working on boosting your credit score by paying all your bills on time and reducing your debt. A higher credit score will not only improve your chances of qualifying for mortgage refinancing, but it will also make it possible to be approved for a lower interest rate.

Improving Markets Index

The National Association of Home Builders (NAHB) released their second edition of their Improving Markets Index (IMI) on October 6, 2011. This new index, which tracks markets that show signs of economic improvement, measures:

• Employment growth from the Bureau of Labor Statistics
• House price appreciation data from Freddie Mac
• Single family housing permit growth from the U.S.

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Tags: Boost, Housing Markets

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Welfare changes will lead to big rise in poverty

October 26, 2011 – 8:14 am

According to a report by the Institute for Fiscal Studies (IFS), Government welfare changes will mean there will be 3.1 million children in poverty in the UK by 2013.

Typical families will see their annual income fall by around £2,000 by the year 2013, warned the IFS, pushing 600,000 more children into poverty.

The independent financial research organisation said the current economic situation is partly the reason for the rise in poverty, as well as the Government’s welfare overhaul.

In the Government’s emergency budget in June 2010, it was revealed that the benefits system would be in line for a radical overhaul.

The massive overhaul is aimed at helping people get back to work but, at the same time, end the situation where some risk losing out financially if they take a job.

The Government has already announced reductions to the child tax credits system, while child benefit was frozen.

However, a spokesperson for the Department for Work and Pensions said benefits changes would tackle poverty by making work pay.

Work and Pensions Secretary, Iain Duncan Smith, recently said the radical welfare reforms are designed to make a life on benefits “no longer an option”.

The massive overhaul is aimed at helping people get back to work but, at the same time, end the situation where some risk losing out financially if they take a job.

The Government is proposing a Universal Credit, which is designed to replace six income-related work-based benefits.

Meanwhile, commenting on the projections by the IFS, Barnardos chief executive Anne Marie Carrie said: The projected figures for child poverty revealed today are a tragedy.

This isnt just about statistics as every day thousands of families are being forced into making choices between heating or eating, she added.

The IFS report comes at a time when households are also being squeezed by higher inflation, rising unemployment and sluggish wage growth.

Tags: Poverty, Welfare Changes

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Can I keep my paid-off London flat and still buy a country house to live in?

October 25, 2011 – 2:48 am

Q I have a two-bedroom flat in north London which I own outright. It was valued back in June by three local agents at an average of £385,000.

I would like to buy a property in Hertfordshire and am trying to work out if I will be able to keep my flat as a rental investment and borrow enough to cover the cost of the second home that I intend to live in myself. I’m looking at properties in the region of £150,000 to £180,000.

I work freelance but am not registered as self-employed as I am always taxed at source. I have proof of earnings for the last three years and my annual salary is roughly £30,000.

I have been told that I can achieve a rental income of £375 a week. This would take my annual salary closer to the region of £50,000 if lenders would accept it as part of my overall salary. Do you think this is likely?

Also, would I need a deposit or would the collateral that I have in my flat be accepted instead? I can

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Tags: Buy, Buy Country

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Wipe Out Your Debts With Credit Card Debt Risk Management

October 22, 2011 – 3:58 am

Credit card has become a basic necessity in the modern world. Life without credit cards is unimaginable. With a gamut of lucrative offers one tends to get tempted to procure a credit card for himself. But a turning point comes when credit cards are regarded as free cash. This misunderstanding can drive them amidst a stack of debts.

 

Overspending through credit cards can often land you in a financial crisis. This is when a credit card risk management can come to your rescue. Credit management is understood in different ways depending on your state of affairs. For instance, business owners comprehend it as a route to realize policies and practices to abide by in getting payments from consumers and clientele. A part of effectual big business credit management is an aversion of lengthening credit terms to potential ‘bad debtors.’  Credit management in simple terms would stand for ways and means to reduce your debts in a short span of time. 

 

Professional credit card debt management can help you to save your credit rating and your funds with ease. A credi

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Tags: Card, Credit Card

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Roth IRA – niche in financial apogees

October 19, 2011 – 6:39 am

Roth IRA stands for retirement plan, usually when it comes to money we think a lot on the pros and cons of the plans that we are dealing with. With Roth IRA one can find while surfing on net that it has a lot of pros which would make it to stand out different from a group. To get a clear cut information on what Roth IRA has to offer, one can easily found it out at roth-ira.org. This has some similarities to a traditional IRA plans but the benefits on the former are more, than the later.

In the view for investments in Roth IRA, as said earlier, the benefits Q’s up as such,
1. The minimum distributions that are made in traditional IRA plans are eliminated.
2. E Read full article…

Tags: roth ira

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