This article explains the difference between secured loans and unsecured debt loans and what consolidating debt entails. You will learn the difference between the two and which one will benefit you the most.

In order to provide you with an overview of bill consolidation loans, you need to know that when you consolidate bills to take a loan it is actually like taking a personal loan. This loan is then used to repay all of the credit card bills that have a high interest rate as well as any other bills or loans that have high interest.

Bill consolidating loans are also known as debt consolidation loans. The majority of the debtors will go for the bill consolidation loans for the repayment of all of their outstanding payments on credit card bills. However, there are some of the debtors try to avoid taking out a debt consolidation loan because it will reflect on their credit history.

Namely, there are two types of debt consolidation loans, first you have the secured bill consolidation loans and then you have the unsecured bill consolidation loans. The unsecured debt loans for bill consolidation have a much higher interest rate because of the absence of the collateral.

Generally, the bill consolidation loans combine all of the outstanding debts into one single loan. In turn, all of the debtors have to pay a fixed payment monthly to the debt consolidating company. Then, the debt consolidation loan company will distribute the payment among all of the creditors. The debt consolidation company finds it a lot more convenient to pay off one loan instead of paying all of the bills off individually.

Overall, there are several different types of loans you can take when you consolidate bills. Each individual loan has been designed to suit the variety of needs that debtors have as well as their status financially. All of the debtors that have a good credit rating are able to qualify to receive an unsecured bill consolidation loan. However, it is highly advisable that you check your credit score before you ever apply for this type of loan.

The higher credit scores are able to increase the debtor’s chances of qualifying for a loan that has a low interest rate. All of the debtors are able to consult all of the credit counseling agencies that have been accredited in order to have guidance to select the debt programs that is appropriate. Then the debt consolidating company is going to negotiate all of the lower rates with all of the creditors for a very small fee.

There are a couple of the non-profit agencies that have some expertise when dealing with debtors that have six or more months of having late payments. Before you select a debt consolidation loan company, you should research and then compare the pay back dates, the estimated monthly payments and the fees of several different companies.

There is less documentation necessary when applying for unsecured debt loans saving you a lot of time and a lot less hassle.

Hans Anderson

Foreclosure Investing

Canadian Foreclosures

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A short sale is basically quicker and not as expensive as a foreclosure. A short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer.

This was a very short explanation of what a short sale is.

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As an investor if you can master the art of negotiating short sales you can have a lasting source of income to rely on. You can use this money to supplement your income or even a new career. Short sale deals require the ability to factor in particular facets of a property to determine an acceptable purchase offer.

Your not going to have every offer accepted, and some enticing deals will be too risky but once know how to spot a good deal negotiate successfully, your on your way!

Foreclosures tax sales

Hans Anderson

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There’s No Place Like Home

By Tim Rhode –

Many of my Coaching students want to work in several areas of the country. However, I think if at all possible it is always best to stay local and focus on finding deals and building your team on a local level.

To do this, I suggest you become a real estate expert in your OWN market area. What does this mean? Let me tell you what that meant for me. (For more great coaching advice from Tim and our other fantastic coaches, check out Foreclosures.coms 3-Day Hands on Lab with Alexis and her Team of Coaches.)

1. Target three specific areas to work leads.

I set up areas A, B and C. I wanted those areas to be within 1 hour of my home so I could be MOST EFFICIENT with my time. Area A was Manteca, CA (about 65,000 people). It is where I most wanted deals. If I had enough leads in area A, I only worked there. If I ran out of leads in area A, I would then expand my search to area B. I could get to all of area B within about 40 minutes. It was north and west of my home area. Area C is where I expanded to when I ran out of A and B area leads. It was south and east of my home. I could get to area C within an hour.

2. Become a real estate expert on your market area.

I suggest you get to know what homes sell for and what the demand is for each neighborhood. Who built the homes? What is the reputation of the builder? Where are the desired schools? How close are shopping and the hospital? Why does this area sell for more than other ones?

What is happening in your local market? You can get a monthly report from your real estate agent that gives you the current average sales price of homes, how many are on the market, how many sold this month, etc. This information is invaluable in helping you determine pricing and whether to assign, flip, or maybe even keep the property for a rental. (Here’s a great resource. Foreclosures.com Listings will help you find motivated sellers and REO lenders that have NOT listed their home on the MLS. Find leads that your agent is not showing you and get in FIRS.
Foreclosures.com/Lists

Keep up with local real estate trends, employment figures, etc. with your local newspaper. Knowing the overall picture in your area really helps you have a handle on what is currently happening in your community, and keeps you ahead of the curve.

3. Build your team of real estate experts to assist you.

You want to have your own realtor, lender, investors, title company, contractor, accountant, attorney, etc. These contacts take time to build up and prove to be great allies in helping you mold and grow your business.

You can see that you have some work to do to put this all together and BECOME THE EXPERT INVESTOR you want to be. For me, there was “no place like home” to do this. It took time and determination. With the help of Alexis and a good coach, YOU can do it too.

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Foreclosures Tax Sales

Hans Anderson

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One of the chores involved when investing in real estate is contacting and talking to preferably only motivated sellers, and steering clear of the rest. Home owners dealing with preforeclosures will be the most motivated sellers you will come across. Their world has been turned upside-down, They are about to lose their home, everything is about to change.

At this point they are so motivated, they just want their problems to go away. When you purchase pre foreclosures from people who are motivated you can easily create 25% or more equity spreads on properties, more often then not in good condition.

Hans Anderson

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