Category Archives: Finance

How to Get the Best Mortgage Rates Possible

A conceptual look at variable mortgage rates.When buying a new home, one of your major concerns is to get a favorable mortgage rate. One or two percentage points can make a huge difference. It can mean thousands of dollars in savings. Considering that home cost is not cheap, saving a few thousand dollars can be of big help.

There are many ways you can get the most favorable mortgage rates. Salt Lake City has many lending companies who gave the following tips.

Compare Different Lenders

Loan rates vary from one lender to another. If you are a first-time buyer, it may be tempting to grab the first loan offer you get. Depending on the amount you borrow, a fraction of a point difference can cost a lot of money. It is a good idea to shop around first and compare offers from different lenders. Find a mortgage that offers the best possible terms and rates.

Improve Your Credit

Poor credit rating translates to high mortgage rates. It is as simple as that. If you currently do not have an outstanding credit score, work on improving your credit first before applying for a loan. While it may take a little time to improve your credit rating, the results would be worth the wait. An increase of a few points in your score can mean thousands of dollars in savings for the duration of your mortgage.

Be Upfront with Lenders

If there are negative entries on your credit reports that are not easy to repair, be honest and inform your prospective lender about them. Your lender will surely find out about them, so it is better that you air the issues first. Your lender may even be able to offer some advice on how you can fix the problems and get your loan application approved.

Put Up as Much Down Payment as You Can

All lenders like big down payments. So, before finalizing your purchase, make sure to come up with as big a down payment as you can. This way, the lender will have a good impression of you. You will get more favorable mortgage terms. Likewise, you will have to borrow less money with a bigger down payment. As a result, you will have to pay less in interest.

These are only a few tips on how you can get better mortgage rates. Follow these tips and enjoy considerable savings on your loan.

Dealing with Your Insurance Company After a Disaster

Man suffering whiplash after a car accidentIf your property gets damaged or destroyed by fire, you will be looking into filing for an insurance claim. Sadly, not everyone is successful in their fire damage insurance claim. As fire becomes more rampant in certain locations, many insurance companies may find a way to grant you as little as possible in an attempt to cut back on expenses.

United States Adjusters suggests that you keep these things in mind when dealing with your insurance company:

List Everything Lost and File Your Claim Immediately

List everything you lost in the fire while you are still able to remember them. It will also be easier to prove that you’ve lost the items listed if the insurance adjuster can see it for himself, so don’t throw anything until your insurance claim is approved.

Furthermore, be sure to inform your insurance company of the type of loss you have suffered right away. In fact, there is a required allowable time to report the incident after it has happened. You will need to prepare your proof of loss claim, which should include everything you have lost with their corresponding value.

You will also need to include the following information in your claim:

  • The date the incident happened
  • Type of loss or damage
  • Location of damage
  • Injuries incurred from the incident
  • The current condition of your property
  • Detailed description of the damaged items
  • Indicate if temporary repairs are needed or not
  • A police or fire report

Request For an Advance

After filing for a fire insurance claim, you must request for an advance against your eventual claim. As you most likely didn’t have time to grab anything from your home, especially the basic necessities, you need money to buy important items, such as toiletries and clothes. But be reasonable when buying stuff because if you try to overspend, you will be paying the difference.

Keep an Eye on Your Living Expenses

You are entitled to living expenses reimbursement because of the “loss of use” clause in your policy. This, however, will only cover the difference between your daily living costs at home and your costs while displaced.

Be as thorough and organized when claiming insurance for fire damage. Keep track of all correspondence with the insurance company, including emails, calls, and letters, as you may need these to show who said what to whom and when it was said. This will save you from a lot of hardship in the long run.

4 Signs that Say You Need Help With Your Taxes

Income Tax Consultants Taxation law is a hard topic to wrap your head around.  There are so many regulations that can be hard for the layperson to understand. While some people can handle the process of filing their taxes, individuals in more complex financial situations might just need to outsource the task.

There are many income tax consultants in New York. If your finances are just too complicated, it could be time to get help from one of them. In this article, you will find four telltale signs that indicate that you need professional advice to file your returns.

  1. You Don’t Have the Time

If you just can’t find the hours in your schedule to do your taxes, ask for help. According to the Internal Revenue Service survey, it takes an average of 16 hours to prepare your accounts to file a return. If your schedule is too tight to fit in the hours required, it could be time to hire the professionals.

  1. You’re Not Computer Savvy

The IRS created E-filing to make life a bit easier. The key phrase is “a bit”. A filer must be able to understand how the system works and how they should go about submitting their filing online. For someone who has no interest in learning how to do it, they should consider outsourcing the task.

  1. You Have Multiple Income Sources

Freelancers, consultants, and individuals with multiple income streams might do well with an audit from a tax consultant. Tax returns for individuals with multiple-income streams are much more complex than those for individuals with only one income stream. A tax consultant can be a big help for individuals who manage multiple responsibilities.

  1. You Must be Accurate

You should always take care to represent yourself accurately to the IRS and ensure that you pay the right taxes. By filing through tax professionals, you are spared the worry of erroneously filing your taxes.

Filing for tax in the US is a national event, in large part because it can be complex and daunting. However, as a responsible citizen, it is crucial to follow all regulations and to file correctly. When you hire a tax consultant, you can eliminate hours of agonizing over regulations and enjoy the satisfaction of knowing that your taxes have been filed perfectly.

The 2017 Spring Guide for Homebuyers

Home being sold Spring is fast approaching, and ‘tis the season of frantic home buying. Do you plan to buy your first home in the coming spring? You better prepare in the final days of winter as you face fierce competition in the housing market. Not to worry, though, as you can consult this guide to help in your preparations.

Step 1: Find an Agent

Team up with a real estate agent. They may be someone you worked with in the past or a referral by family or friends. You can also base your choice on their negotiating skills, time availability, and specialization. An agent can help you start the home shopping process while business is slow during winter. You can even learn upcoming spring property sales through your agent.

Step 2: Get Help from a Mortgage Planner

Besides an agent, you can also hire a mortgage planner. They can help you find the right mortgage loan with the best mortgage rates here in Salt Lake City and assist you with the whole financial process, so you can make informed decisions. With their help, you can save money in the long run.

Step 3: Visit Houses and Neighborhoods

Now, as you will be able to lock down on the best financing plan through a mortgage planner, you can start visiting homes to understand what you want out of a home purchase. You can look for open houses during winter that you can visit. At the same time, you can start analyzing neighborhoods that you like if they will fit your family and your lifestyle.

Step 4: Be Open to Early Purchases

Have you found a home you love? Are you willing to move at a moment’s notice? You can definitely purchase a home earlier than intended. Winter home buying can mean less competition and multiple offers on a single home. You can use these details to your advantage.

With these guidelines, you can easily find and purchase a home that you love by the time spring comes.

Crucial Methods That Can Keep Bad Credit From Staying Bad

Bad CreditEver since it was created as a medium of exchange, money has held a vital place in society. Unfortunately, money can be lost due to mismanagement and debt. Such financial states can eventually lower your credit score and many lenders’ trust in your capacity to pay.

The good news is, your situation need not have to stay hopeless forever.

You Can Still Get a Loan – While yes, most lenders still prefer clients with good credit scores, having bad credit does not automatically mean that you won’t be able to take out a loan. There are lenders in Arkansas that are willing to offer bad credit loans to those with failing credit grades. They are usually offered with a higher interest rate, required collateral or under specific conditions.

You Can Still Rebuild Credit – It might be difficult but you can still rebuild your credit grade. You can take it one feasible step at a time with the help of the right financial adviser. Start by reviewing your credit reports to identify the source of your financial decline. You can also check for possible errors and inconsistencies and have them corrected. Identify the solutions such as paying off specific debts or other vital financial decisions then follow through.

You Can Learn from Your Mistakes – The experience of having a bad credit score can offer a treasure trove of profitable lessons. As you work to rebuild your credit, you can get to know more details on the mistakes that you’ve made, learn how to fix them and know better to never repeat the errors of your ways. Also, you can learn how to better maintain your credit score and improve your skill in handling your finances during your recovery.

Getting a bad credit rating does not mean that your life is over. Use your experience to better manage your earnings and handle any future financial issues that you might find yourself in. Remember, there are financial experts and lending professionals that you can go to for advice, provided they are reliable and reputable.

Should You Start a Liquor Business?

Liquor License in Florida Have you been wondering what type of business you should set up in Florida? Why not opt for a liquor store? This is a highly lucrative business that could bring in huge cash to your ledger.

Many health advocates will tell you not to drink liquor because of their perceived negative effects on health. On the other hand, some health specialists will tell you to drink one glass of wine a day. Despite these opposing statements, many people still choose to engage in the liquor business, opening up their own liquor stores.

A Lot of Patrons

It cannot be denied that many individuals in the United States are alcoholic drinkers. According to the National Institute on Alcohol Abuse and Alcoholism (NIAAA), about 87.6 percent of individuals who are 18 years old and above stated that at one point in their lives, they have drunk an alcoholic beverage. As a matter of fact, about 56.9 percent of them drank in the month prior to the study. This goes to show how prevalent drinking is. Hence, it creates a huge market for entrepreneurs, especially those who are Florida liquor license holders already, according to The Liquor License Guy.

Long Shelf Life

Unlike ordinary drinks, liquor has a long shelf life. It is good for business, considering that you don’t have to worry much about expiry dates. According to Kitchn, one rule of thumb to follow when looking at the shelf life of liquor is that when it is unopened, its shelf life is technically indefinite. Compare that to the shelf life of bread, juice and other products, and you will appreciate it even more.

Good Income

Apparently, if the shelf life of the product you are selling is “indefinite” and the market is huge, you will enjoy a good income. Think about it, the primary purpose of having a business is to earn a profit, and these things could definitely benefit you.

Now that you know why many people prefer to run a liquor business, it won’t be a surprise if you decide to open one in Florida, too. But like any other business, remember that you must learn the ropes first before starting your own.

Which Type of Construction Loan is Perfect for You?

Construction LoansUnless you are going to pay off your construction project with cash, a construction loan is a prerequisite to pay for the labor and materials. American Loans notes that a construction loan in Utah is somewhat more challenging compared to the traditional mortgage loan because you are borrowing cash for a building that isn’t built yet. Essentially, they work like credit cards, but the bank will control when you can borrow the money and when they can release it to the contractor.

Choose from the following kinds for your project:

One Time Close Construction Loans

One time close construction loan is the most preferred loan of the consumers, but it is now difficult to find a lender that offers still offers this. Lenders mostly call them construction to permanent loans or all in one loan for these combine both the mortgage and construction loan in just a single loan. This kind of loan is ideal for those who already have finalized the schedule, costs and design because the terms are not easily changeable.

Two Time Close Construction Loans

Meanwhile, two-time close construction loans are two separate loans. They consist of a permanent mortgage loan for the completed building and a short-term loan for the construction part of the project. The project owners have to refinance as soon as the building is done and would need to get approval, as well as, pay for the closing costs again.

During the construction part of the project, the owners only have to settle the interest of the money paid out. Their payments will be small, but it will grow as the lenders disburse more money. The loan will have a certain duration before the penalties begin.

Both types of construction loans have its own advantages and disadvantages. Figure out what’s best for you and your completed project in the long run.

Why Do Customers Return Your E-Commerce Products?

Product ReturnThe multi-billion e-commerce industry is showing no signs of slowing down. Although sales may plateau in the United States in 2017, Asian markets are expected to grow. That presents new opportunities to retailers like you.

However, your chances of succeeding in e-commerce can be hampered by product returns, which are costly, time-consuming, and potentially damaging to your brand. How do you avoid them? First, you need to know why returns happen.

1. They received the wrong product

The product is the wrong size, doesn’t fit the item description on the website, or is not the item they actually ordered.

Resolve the problem by being clear and specific with your product descriptions. Keep them as simple as possible. Evaluate your current fulfillment process if the issue persists. If it’s mainly caused by human error, consider automation or increase of your workforce especially during on-peak seasons like the holidays.

2. They arrived as damaged goods

According to a study by StellaService, 1 in every 10 packages bought online arrived at the recipient’s doorstep already damaged. This can be bad for business as it may reduce the brand’s credibility and reliability. A poor review can worsen the problem.

Although shipment is one of the leading causes of product damage, it may also occur even in the warehouse usually due to poor storage. Growing businesses should invest on storage essentials like industrial racking solutions. Find those that are flexible and capable of holding loads of varying sizes.

3. They are done using the product

Also known as wardrobing, this unethical practice involves using the product for a certain period and returning it while the money-back guarantee is still in effect.

To avoid this situation, create a well-written, clear returns and refund policy. For instance, many apparel retailers no longer accept returns of sensitive items like undergarments. Any changes to such policy should be announced on the homepage or e-mail.

As an e-commerce business, product returns are normal, and you should provide an allowance for that. But it’s also your job to protect business interests by understanding the common reasons behind these returns and implementing strategies to prevent them.

3 Reasons Why You Need To Move Out Of Your Parents’ House

Condo Units In MakatiOkay, so your mother makes the best adobo. But that’s not a good enough reason not to move out of your parents’ house even if you’re in your late 30s. In other countries, children are expected to move out of their family homes when they reach the legal age of 18. While some still get a lot of support from their parents, many are expected to fend for themselves.

Moving out of your parents’ home, especially for many Filipinos, is both an exhilarating and terrifying thing. Who will cook? Who will do the laundry? Most of all, who will clean? These mundane excuses tend to overshadow the most important lesson you can learn: how to become independent.

Here are the top reasons why you should move into your own space soon.

First of all, it’s not sexy anymore.

If you’re in your early, mid and late 30s and you still live in your parents’ home and eat food that they buy, it’s not as attractive to your potential mate. Independence is sexy, regardless of gender and relationship status.

Second, you get to make your own rules.

You probably hate not being able to eat on your bed and watch Netflix until your eyes fall off. When you have your own place, you can do anything you want! Eat on your bed. Leave used plates on the sink. Eat takeout food 24/7. You are the master of your own space, finally. After a week of being a slob, you’ll realize that your mother is right all along and you’ll become more conscious of keeping your place clean.

Third, privacy.

Adults crave for this, even your parents! When you live on your own, you’ll finally get it. Your parents will get the privacy they’ve wanted since their first child was born into this world. If you’re an only child and you finally moved out at 32, imagine how long your parents craved for that privacy.

With a variety of condo and other housing options today, you’ll be spoiled for choice and won’t run out properties to check out. If you’re currently looking, check out condo units for sale at The Grove by Rockwell. Conveniently located along C5, it’s a great option for those working this Eastwood City or in the general Makati CBD and BGC areas.

It’s time to grow up. Your parents have done their part. It’s time to do yours.

What Makes Personal Loan a Great Source of Instant Cash

Cash Advances in UtahWhen it comes to making cash advances in Utah, applying for a personal loan offers unique conveniences and incentives. It may not be for everybody, but it’s better than plastic cards in many ways. If you’re dealing with unexpected expenses, which can’t wait until your next paycheck, this is perhaps the best possible route to take. Here’s why:

You Enjoy Fuss-Free Application Process

First off, Loans For Less noted that personal loans in Ogden, Provo, Salt Lake City, or anywhere in Utah hardly require documentation. The application process is fast and simple, allowing you to access the cash you badly needs in no time. Even if you have no previous record with the lending facility, you can walk out of the store with your much-needed money in minutes.

In banks, you can’t always expect to complete a cash advance immediately. They’re usually closed on weekends after all. If you need to take care of your financial problem quickly, a personal loan from a non-traditional lender offers more flexibility for your needs.

You Are Able to Apply Anytime

Many personal loan providers are within your reach. Apart from speaking with a representative over the phone, you can submit your application online and expect a response as soon as possible. Considering the high demand for personal loans, lenders strive to be available at all hours to accommodate as many customers as possible.

You Benefit from Lower (or Even Vanishing) Interest

The competition in the lending environment is getting fiercer by the day. This is why it’s common to find lenders trying to beat the interest rates offered by others. Use it to your advantage to pay fewer dollars in interest. In addition, local lending firms always come up with incentives to reward good payers. For instance, some lenders reduce the amount of interest every time you pay on time until it reaches to zero.

A personal loan is a better source of quick cash than credit cards, but use it wisely. It’s designed as an instant solution to short-term financial concerns and shouldn’t be used to cover your regular budgeting problems.