Secured Finance What Is It And How You Can Obtain It
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James Copper
Apr 26, 2013, 5:20:04 PM4/26/13
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Please consider this free-reprint article written by:
James Copper
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Article Title: Secured Finance What Is It And How You Can Obtain It
Author: James Copper
Word Count: 578
Article URL: http://www.isnare.com/?aid=149568&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=149568
Easy Publish Tool: http://www.isnare.com/html.php?aid=149568
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The most common form of secured finance is a home loan. Here are the basics that are universally the same. The first thing you must know that, even though it is secured finance which has relatively fewer risks for the lender than an unsecured loan, it is still a major purchase and a loan of a substantial amount of money for a private individual to borrow.
Be prepared, for that reason, to fill out an extensive loan application, and a lot of information on the property that is being used to secure the financing. Be prepared to explain your budget - your income and your expenses, your assets and your liabilities.
Be aware as well, that your secured finance options can change at any time, as rates do change. Once you have that secured financing in place keep an eye on interest rates.
It may be that somewhere down the road you will see interest rates drop and can save some money through a refinance process on the same secured property. Refinancing a mortgage has become quite commonplace.
When you see a better rate that will save you some money, and more attractive terms, try to take advantage of that secured refinance opportunity to save yourself a considerable amount of money over the life of the mortgage.
No matter which finance option you choose - and for a home loan its almost undoubtedly going to be secured - you must make your payments on time. This is the most important thing you can do to your credit and your ability to retain your home. Nothing can hurt your credit rating than making your mortgage payments late.
And since it is a finance options secured with your own home, youre risking the roof over your head when you are late with a payment. If your mortgage company offers automatic debit payments through your bank account take them up on that. Dont risk your home and your credit.
The options for buying a new car with a loan are generally going to be secured finance deals, although you can make them with the auto dealer or with the bank. You generally have a greater percentage of your own money in the way of cash or a trade in of your present car than you do for a home loan, but you almost always need a secured finance lender as well.
The other choice you would have is to lease the car. The problem with leasing is that the car is never really yours and to make it so you will end up with a huge balloon payment at the end of the lease.
The auto dealer finance option, still secured with your new vehicle, means higher interest rates than most financial institutions. It does have its benefits, however. For one thing you can buy the car, finance the car on the spot and drive it home. For busy people this can be a considerable savings of itself.
Auto dealers have relationships with many lenders and know what institution will lend you what money and at what particular rate. They can, therefore do your comparison shopping for you and generally get you the best deal possible. If your credit is good these auto dealers may also have a special limited time offer on new car loans that they use as incentives.
About The Author: James Copper works for http://www.just35.com and is a part time finance writer.
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=149568
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
James Copper
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=149568
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=149568
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Secured Finance What Is It And How You Can Obtain It
Author: James Copper
Word Count: 578
Article URL: http://www.isnare.com/?aid=149568&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=149568
Easy Publish Tool: http://www.isnare.com/html.php?aid=149568
*********************** ARTICLE START ***********************
The most common form of secured finance is a home loan. Here are the basics that are universally the same. The first thing you must know that, even though it is secured finance which has relatively fewer risks for the lender than an unsecured loan, it is still a major purchase and a loan of a substantial amount of money for a private individual to borrow.
Be prepared, for that reason, to fill out an extensive loan application, and a lot of information on the property that is being used to secure the financing. Be prepared to explain your budget - your income and your expenses, your assets and your liabilities.
Be aware as well, that your secured finance options can change at any time, as rates do change. Once you have that secured financing in place keep an eye on interest rates.
It may be that somewhere down the road you will see interest rates drop and can save some money through a refinance process on the same secured property. Refinancing a mortgage has become quite commonplace.
When you see a better rate that will save you some money, and more attractive terms, try to take advantage of that secured refinance opportunity to save yourself a considerable amount of money over the life of the mortgage.
No matter which finance option you choose - and for a home loan its almost undoubtedly going to be secured - you must make your payments on time. This is the most important thing you can do to your credit and your ability to retain your home. Nothing can hurt your credit rating than making your mortgage payments late.
And since it is a finance options secured with your own home, youre risking the roof over your head when you are late with a payment. If your mortgage company offers automatic debit payments through your bank account take them up on that. Dont risk your home and your credit.
The options for buying a new car with a loan are generally going to be secured finance deals, although you can make them with the auto dealer or with the bank. You generally have a greater percentage of your own money in the way of cash or a trade in of your present car than you do for a home loan, but you almost always need a secured finance lender as well.
The other choice you would have is to lease the car. The problem with leasing is that the car is never really yours and to make it so you will end up with a huge balloon payment at the end of the lease.
The auto dealer finance option, still secured with your new vehicle, means higher interest rates than most financial institutions. It does have its benefits, however. For one thing you can buy the car, finance the car on the spot and drive it home. For busy people this can be a considerable savings of itself.
Auto dealers have relationships with many lenders and know what institution will lend you what money and at what particular rate. They can, therefore do your comparison shopping for you and generally get you the best deal possible. If your credit is good these auto dealers may also have a special limited time offer on new car loans that they use as incentives.
About The Author: James Copper works for http://www.just35.com and is a part time finance writer.
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=149568
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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