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Home > > Credit card with apr as low as 5%

Credit card with apr as low as 5%

A summary provided by a title insurance company of public records affecting the title to a property.

An attorney or a title company will review an abstract of title to determine if there are any problems affecting the title to the property. All such problems must be cleared before the buyer can be issued a clear and insurable title.Such problems may consist of unpaid taxes on the property by the current owner or the previous owner. Also, judgements and liens are known to show up on the title as well, from loans that went into default where the property was being used as collateralcredit card with apr as low as 5% .If there are any such issues, they are normally cleared by the title company, that is why you pay them a nice chunk of change at the settlement table.The majority of issues that show up on title usually have been cleared, but the appropriate paperwork was not handled correctly to remove the issues from the title.Abstract of title also protects you low credit as card as with apr 5% from anything from the past that may sneak up on you. Such as a divorced spouse showing up at your doorstep claiming to have a right to your property because their ex had sold the house without their consent.This is highly unlikely, but it has happened.Abstract of title protects you from things that may have happened in the past affecting the property, the same way home ownerís credit card with apr as low as 5% insurance protects you from things card with credit apr as low as 5% that may happen in the future that affect the property. 2

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Besides your credit score and the other five qualifications you must meet to finance a real estate mortgage loan, you need to gather papers and documents. Speed up your financing and make your life easier. Organize your papers into a three-ring binder or file system. You wonít need all of the documentation listed below. However, the more information you gather, the more likely you will be to get the best loan rates. Keep in mind that all of these documents may not be needed for all types of loans.

Documentation Required for Real Estate Mortgage Loan

Whether you want to buy your first home or many investment properties to build wealth, this checklist will help you save money on loan costs.

1. Proof of Income

Include copies of your last two pay stubs or other proof of employment and income verification. If you are receiving fixed income like trust income or social security, then include the beneficiary letter stating how much you get.

For self-employed, you will need to prove that you have been in the same line of work or business for two or more years.

If self-employed, show a copy of your business license for two or three years to show you have been in that business for at least two years. If you donít have these, then show whatever you do have to evidence you have been in business for at least two years in the same line or business field. You may also ask a CPA to amend your income tax returns for the previous two years and then write a letter verifying that youíve been self-employed for at least two years.

2. Tax returns

Provide tax returns for the last two years or at least the last two years of W2ís and/or 1099s if you donít want to disclose tax returns.

If youíre self-employed, the mortgage company may require your personal and business tax returns for the previous two years and your companyís year-to-date Profit and Loss Statement. If you own a business, you may need a Financial Business Statement prepared by an accountant.

3. Bank account records

Gather your account numbers, address of your bank branch, along with checking and savings account statements for the previous two-to-twelve months. You only need the last two monthsí bank statements in most cases. Most lenders will only need twelve months bank statements when you are trying to get a "full doc" loan (with the best rates) instead of stated income for a self-employed individual. Talk to your loan officer about whether twelve months of bank statements will help you get a better rate.

Include all bank accounts, savings accounts, retirement accounts, and investment accounts. Include any account that you sign for, even if your spouse also signs on the account, and even if your spouse does not apply for the loan with you. Financial assets like these are considered important by lenders as a reserve, particularly now that property values are not rising as quickly.

4. Driver's license and social security card photocopies

5. Proof of housing payments

Whether you own or rent, you must document your housing payments. Credit reporting agencies list mortgage payments. Provide copies of your mortgage statements or a copy of your lease agreement with twelve monthsí of checks showing rent payments on time.

If you rent your home from a professional management firm, they can verify that you have paid rent on time. If you rent from a private party, most lenders (though not all) will require you to show canceled rent checks for twelve months.

6. Major assets (other real estate owned, automobiles, boats, antiques, stocks, etc.).

You donít have to include individual stocks if you own shares in a mutual fund or hedge fund. Just provide the latest fund statement. Include vested cash value of whole-life or universal life insurance policy, if any. (Cash value is not the same as the face value. Cash value is what you would get from the insurance company right now, if you surrendered the policy while still alive.) If there are antiques or other collectibles, provide only the total collection value; you donít have to itemize.

7. List of debts (car loans, furniture loans, student loans, and credit cards)

Even though the debts will be on the credit report, you must be aware of all of your debts so that you can tell if the credit report has mistakes. Include any debts that you have co-signed for, like when you co-sign for a childís car.

8. Divorce settlement papers, if applicable, no matter how far back in time

9. Delinquent or inaccurate debts or credit report items

If you paid a collection, judgment or lien (especially a tax lien or other lien against your house), include proof of payment.

10. An irrevocable gift letter if you are receiving a monetary gift from a relative.

11. Purchase agreement (for new purchase).

Provide a copy signed by both parties, including all the signed disclosures.

12. Items needed for a refinance

Furnish copies of your note and deed of trust, home insurance declaration page, copy of your last property tax bill.

13. If you own investment real estate in your name, you need rental leases for each of your properties, plus the items listed in #12 for each of your properties.

14. Bankruptcy

Supply all pages and schedules for any bankruptcy filing within the last seven years, and the discharge sheet, for any type of bankruptcy (Ch 7, Ch 11 or Ch 13). Bankruptcy must be discharged before the date of the loan application.

Preparation Leads to Financial Freedom

Talk to your loan officer to see which documents you need to copy and send. Prepare your credit and your real estate mortgage loan documents so you can buy your dream home and even multiple investment properties.

Copyright © Jeanette J. Fisher

Surety Bonds are required for a reason, usually to protect public money. Many contractors and commercial businesses get frustrated by their bond requirements and will put the requirement to the side and put their full attention to what they feel needs it. Unfortunately for them, the obligee will feel quite differently about what is most important and what needs to be done.

Some commercial businesses will begin operating prior to properly filing a bond. This can create stiff fines and other penalties. A Curves for Women Inc. in Shelbyville, KY failed to file their surety bond prior to selling memberships. The Curves had to hault all long-term memberships sales by state order. The suit asks the court to void all previous contracts sold without a bond, refund all funds collected, and fines of $2,000 for each membership sold. This is a prime example of a business operating without the state required bonding and paying a hefty price for it.

When it comes to contractors, they will often want to obtain a bid bond anyway possible to get their foot in the door and worry about the performance bond (the one that guarantees the contract) at a later time. One thing that contractors must understand is what a bid bond actually does. A bid bond guarantees that if the contractor is awarded the job, the surety will provide the performance bond to guarantee the contract. If the surety refuses to write the performance bond the bid bond would cover the costs of the spread for the next lowest bidder. Therefore, for a surety to approve a contractor for a bid bond, they must also qualify for the performance bond. If a contractor decides to post cash for the bid because he/she can not obtain an approval for the bid bond, then their money is at risk. If the contractor can not obtain a performance bond, their posted cash will be used to cover the bid spread. It is not that it is impossible to obtain a performance bond in these cases, it is just that they may require substantial collateral.

Regardless of what type of business you are in, a surety bond is not something anyone is happy about having to obtain. It may be an inconvienience of your time and assets, but the requirement is in place not to protect the principal, but the obligee. If you must obtain a commercial bond, be sure to do so or you will pay a far higher price down the road. Be careful if you are a contractor trying to get your foot in the door on a big job. Think it through and talk to a professional bond producer to discuss what options are available to you.

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