Mortgage Refinancing Tips Worth Knowing

Refinancing is when you arrange a new loan or debt obligation to repay the extant loan or debt obligation. It is expected that the rate of interest on the new loan will be lower than the existing one. People opt for refinancing their mortgage for certain reasons — to save money by lowering the interest rate, to lengthen their loan to lower the monthly payments or shorten their term to pay off their loan faster, or maybe to lock in a fixed monthly payment. If you want to avail of a better interest rate, you should know the right way to go about refinancing your mortgage. Here are some tips for a successful mortgage refinancing.

If you are going to be refinancing your mortgage, you need to shop around for the best offer. As with most important financial decisions, you do not want to look desperate and take the first offer a lender gives you. Look into various lenders and compare the interest rates offered to you. Make a list of the positive and negative aspects of each offer so that you can choose a company wisely who will meet your needs. You also want to make sure that you are looking into each lender to make sure they are legit and reputable. Do not just go with some unknown lender because they are offering something great.

Look for the best offer. Search for various lenders and compare the interest rates offered to you.  By taking note of the pros and cons of each offer, you can determine the company that will surely meet your needs. Also, make sure that your lender is reputable and knows what it is doing.

Check your credit score. A low credit rating has a negative effect on the interest rate and the availability of a refinance mortgage so it is imperative for you to know your credit score. Knowing that negative items might hurt your chances of getting a loan, one should try to settle them prior to refinance. A good credit score can help you negotiate terms of your mortgage and interest rate.

Ask lenders for closing costs. For you to save money, it is wise to know how much the closing costs are on the mortgage refinance. You don’t want to end up spending much money on closings costs just to save a few dollars. Also, make sure you ask upfront how much closing costs are so you could have more time to secure the money.

Know how long you plan to be in the house.  Deciding to refinance should also be based on how long you will be staying in your home after you refinance your mortgage.  It is never worth refinancing if the extra cost outweighs the savings you would realize. It is best if you intend to stay in your house for ten years or more after refinancing.

Take your time before closing the deal. In order for you to address all-important issues, it is advised of you to try to close the deal between 45 days to 60 days. Lenders will usually try to give you only 30 days to close the deal — don’t give in.  It may not be enough for you to thoroughly consider the different financial issues as well as contractual obligations involved.  Extending the period of the closing might cost you a charge, but the benefit of knowing all of the details prior to the deal’s closing is worth it.


Choosing an Online Stockbroker

Choosing the right online stockbroker is important if investors are to take full advantage of investing online. Thanks to advancements in communication technology, trading is now made more efficient. Investors benefit from competition among online brokers as they battle it out to provide investors the most value for their portfolios.  The following are some points to remember when comparing stockbrokers and picking the best broker that would suit your needs.

  • Know that different brokerages offer different services and they also differ in minimum deposits. You may not be required to post a minimum deposit to open an account with some brokers, while you may be required to put up several thousand dollars with others. Some brokers may require a higher opening balance to avail of their premium platforms, functionality and personalized support. Steer clear from brokers that require you to open an account with more money than you are willing to invest.
  • Know the cost to buy shares as well as the fee structure of your target online broker. You should find out if the fee to trade changes based on the type of order or size of order. Most investors go for brokers that offer a flat rate regardless of the type, price of the stock, or size of the order, also known as flat-fee trades.
  • Be aware of the investment options available. Your online stockbroker should not be limited to offering only access to trading stocks.  Make sure the online broker is able to help you invest in any mutual funds, ETFs and options you are interested. Most brokers do, but some just do not.
  • There are a lot of online brokers that offer funding a 401k, Roth IRA or other retirement accounts.

Tips for choosing your online broker:

  • Come up with a focus list of online brokers that interest you, narrowing down your choices according to your specific needs.
  • You will need tools to trade successfully. It would make sense to choose a larger broker that offers access to strong trade tools — from real time streamers to last sale tickers, live news feeds, mobile trading and even for some level II quotes.
  • Be aware of fees other than trade commissions. Many stockbrokers have already excluded many fees, but some still charge for inactivity fees, transfer fees and, in case of a retirement account, yearly IRA fees.

Discount online stockbrokers typically allow investors to buy stocks, however, they are not inclined to giving stock advice. If you want stock advice, you are going to need a full service online stockbroker or a local stockbroker.  They usually cost much more than a discount online stockbroker but the advice they offer can be worth gold.

Picking the Right Stockbroker

Finding a stock broker is one of the most important things you have to do if you’re planning to invest in the stock market. You need a stockbroker to assist you in executing your orders, thus they serve as a link between you and the stock exchange. Stockbrokers these days compete to offer investors the most value for their portfolios — it’s up to investors to pick the best brokers when trading. In choosing the right broker, you need to know where you fall in the range of services offered.

Gone are the days when investors had no choice about the type of stockbroker to use. Full service brokers had in the past enjoyed full control of the market and their high commissions were the standard. Changing market demands later gave rise to discount brokers, who charge considerably less than full service brokers, thereby benefiting investors. The Internet has also provided individual investors access to tools that only brokers had in the past.

Full-service vs. Discount vs. Deep Discount

Full Service Brokers. If you’re planning to invest in the stock market but can’t come up with your own investment decisions, then you will need a full service broker. Investors are provided with a complete range of financial advisory services, including recommendations of specific stocks and investing plans that investors can review periodically and make adjustments. A full service broker is the best option if you’re not quite sure with your investments. The service comes with a price but the benefits provided simply outweigh the extra cost.

Discount Brokers. Discount brokers are deviating from their traditional order taker role.  It may not provide a comprehensive planning afforded by a full service broker, but discount brokers offer investment advice for investors’ considerations. They offer access to research resources from their Web sites.

Deep Discount Brokers.  Deep discount brokers cost less than discount brokers. These brokers, traditionally order takers, have adapted to changing market demands to provide better online platforms and customer service.

In searching for the right broker, keep in mind that it’s not just about the price. You have to be honest with yourself about how much help you need to make well-informed financial choices and make sure that you are comfortable with your pick.  Also, be cautious when deciding which broker to use. There’s peace of mind if you know that your broker is covered by the Securities Investor Protection Corp. (SIPC).  Should the firm fail, SIPC will protect your assets in a brokerage account up to $500,000.  Trading losses, however, are not covered by the insurance.

Using Credit Cards Wisely and Making the Most of It

Using credit cards is advantageous if you want to build a strong credit record. Individuals also take advantage of the convenience and buying power of credit cards. However, misuse of credit cards may result to one getting into a cycle of debt. By considering the following things, you can avoidthe pitfalls of using credit and have your credit card work to your advantage.

Getting Rid of Interest.  One common big mistake of consumers is purchasing items on a credit card account that they cannot afford to pay off by the end of the next billing cycle. With just the minimum payment applied to the balance each month, they are usually confronted with high interest charges — with most credit card companies charging as high as 30%. It becomes more difficult for consumers to get out of debt. It is imperative then for consumers to address interest payments by paying down debt.  It is suggested to charge only amounts you can repay each month when using your credit lines and not allow credit to revolve from one billing cycle to the next.

Making Use of Credit Card Rewards. Choose a card that offers you rewards points for all of your purchases, considering a rewards program that matches your spending habits. You can enjoy cash back, free travel or other perks by utilizing rewards credit cards.  Most credit cards don’t charge an annual fee to enroll in a rewards program.

A Wiser Way of Spending Cash Rewards/Points.  If you want to maximize the value of your rewards points, it is better to put them towards your balance instead of spending them on more purchases.  This way you would be not only paying down the debt but at the same time lowering your interest.

Benefiting from Extended Warranties. Consumers can benefit from extended warranties offered for free by some card companies like American Express and Visa. If you are a cardholder of these credit cards, know if you can enjoy a minimum of an extra one year of protection for your electronics or other items.

The above are just some of the ways to make credit cards help you and save you money. By being knowledgeable about the various issues surrounding credit card misuse, you can avoid the pitfalls of using credit.

Credit History. Paying card balances on time and above the minimum payment are things to consider in establishing a favorable credit history. If you are going for more attractive loan rates and higher lines of credit, you should show a consistent bill payment history.

Debt-to-Income Ratio.  Creditors look to debt-to-income ratio to know how much of a consumer’s gross monthly income goes toward debt payments. A low debt-to-income ratio of 15% or less is highly favorable, while a debt-to-income ratio of 20% and up is indicative of a consumer’s difficulty of repaying debts.

Taking Advantage of Online Trading

If you looking for convenience in trading stocks; i.e. managing your investment portfolio at home at your own pace and time, doing transactions fast, etc., then online stock trading is right for you.  With the power of digital information and the Internet, more and more people are ditching their brokers and are now making their trades online. Also, online investors can make use of tools that only brokers had in the past, and are able to watch their investments on a daily basis.

Unlike traditional stock trading, one does not have to contact a stockbroker in order to complete a transaction.  Trading is made possible through the use of an online brokerage firm.  Ameritrade, Scottrade, Etrade, Fidelity and Charles Schwab are among the brokerages that have earned the trust of many investors.

An investor will need to register with an online stockbroker to get started.  It is highly recommended for one to read the terms and review the details on any fees one may incur through making a trade prior to signing up with online brokerage. Also, traders should be guided with the interface that these online trading companies provide and how it works with one’s computer.  After setting up an account, an investor may download the broker’s software package, which provides information on the process of completing a trade.

The next thing to consider is how to fund one’s account, which follows the sign up process. Options that are available include credit card, bank transfers and Paypal. When choosing an online broker, it is important for one to consider investment fees. Fees typically range from $7 to $10 per transaction on average, depending on the chosen online trading service provider.

By utilizing an online brokerage firm, investors take advantage of paying less in broker commissions. However, in the absence of “live” brokers, who possess market expertise, online stock traders may face the risk of losing money due to ignorance of basic investing practices. According to the Online Stock Trading Guide, nearly 80% of investors lose money from the onset mainly due the absence of necessary expertise or investment experience to be successful. Novice traders are better off employing the services of a traditional stockbroker.

With the huge number of stocks available for purchase, it is a good thing to know that the Internet is teemed with a lot of resources for tips and alerts on “hot” stocks. Traders, however, face the challenge of picking the stocks with potential for a major gain.

“,” a Web site dedicated to helping traders make the most in trading penny stocks and guiding others who are trying their hand in the penny stock world for the first time, offers newsletters which help its members made cash in just a very brief period of time. Its increasing number of subscribers stands as a testament to its success. boasts of seven years of finding and alerting members about hot penny stocks that soar after the alerts are sent.

For helpful insights on trading penny stocks successfully, sign up for’s free newsletter at

Things to Know Before Picking the Right Penny Stock

Finding good penny stocks involves a lot of research. You have to make the best penny stock choices if you don’t want your hard-earned money go to waste. You should know the following things about the company before making your investment.

Investing means putting your money into something expecting it to grow in value over time. In doing your research to pick good penny stocks, you may want to know if the company offers a product or service that is beneficial that they will generate profit. It is also a good thing to invest in companies that have good leadership.  Another thing to consider is if the company is consistently generating cash and growing its free cash flow over time. It is wise to steer clear from companies with a heavy debt load.

Penny stock companies are not required to share financial documentations, making it hard to find any information concerning them. Some companies, however, do provide financial information — making them good bets.

One would wonder why penny stocks trade so low. It could be that companies that are issuing these penny stocks are not generating money or just a scam. Most people fall victims to people or businesses that promise “get rich quick” opportunities. To avoid getting scammed out of your investment when buying penny stocks, be cautious with the company or person with whom you are dealing. One helpful advice is to get in touch with the better business bureau or your local chamber of commerce for direction before picking a company.

Trading penny stocks can really be very risky and might not be for everyone to try. It is even suggested that penny stocks should make up less than 10% of ones investment portfolio. However, with enough research and knowledge, penny stock trading can be very profitable.

There is a lot information being thrown at investors about how to make the best penny stock choices. But if you are looking for a sure way to profit with penny stocks, I recommend you check out “”, a Web site dedicated to helping its members make the most in trading penny stocks. Its increasing number of subscribers stands as a testament to its success. The tips if offers are for investors who hope for the highest possible returns from penny stock trading.

For more information visit “”

How to Get Started with Penny Stocks

You have come to realize the great advantages of trading penny stocks.  You have understood that penny stocks, owing to their volatility, are very high risk, but thought that the prospect of huge gains simply outweighs it. As they always say in trading, higher risk equals higher returns for investors. You’re smart, and so you’ve decided to try your hand in penny stock trading.

But before you make your ultimate decision to buy, you may want to investigate stocks and brokerages and understand how penny stock trading really works.

Penny stocks, generally considered as stocks that trade on the over the counter bulletin board exchange (OTCBB), can be bought just like any other regular stocks. An investor needs to set up a brokerage account in order to purchase stocks on the OTCBB. Most brokers allow over-than-counter trading these days. It is highly suggested that you utilize a discount brokerage account since penny stock traders are likely to be buying and selling often. The good news for traders is that many discount brokers these days offer research tools, online seminars and investment advice — services which were usually found only with full-service brokers.

One thing to consider in buying penny stocks would be their liquidity. By knowing if the stock is liquid or not, traders can determine the price one will be able to buy and sell it at. One major problem with low liquidity penny stocks is the difficulty of making money on it. Unlike regular stocks, penny stocks may have less information available, so it’s imperative for traders to do extra homework.

With all the penny stocks trading, traders often have a hard time discerning which ones have the potential for a major gain. The good thing is that there are hundreds of penny stock newsletters that help traders increase their odds of trading penny stocks success. You just have to find the good ones that provide effective penny stock tips.

“,” a Web site dedicated to helping traders make the most in trading penny stocks and guiding others who are trying their hand in the penny stock world for the first time, offers newsletters which help its members made cash in just a very brief period of time. Its increasing number of subscribers stands as a testament to its success. boasts of seven years of finding and alerting members about hot penny stocks that soar after the alerts are sent.

For helpful insights on trading penny stocks successfully, one may sign up for’s free newsletter at

Dealing with Penny Stocks

Making money with penny stocks is really possible — you will just need to have an effective approach to it. Given the highly volatile nature of penny stocks, traders are confronted with high risk of losing investment money quickly.  But one may appreciate the challenge of analyzing them, knowing that that high risk could also mean higher potential rewards.

Following are some guidelines on how to do well in the penny stock world:

Research for a good penny stock pick. Be aware of penny stocks issued by companies that run a scam or operate with the sole intention of raising money through stock dilution. It is also wise to stay clear of companies that have a huge debt. It should be noted that penny stocks are especially vulnerable to manipulation by scam artists.

As previously stated, penny stocks are highly volatile in the stock market. Investors should understand why they are considered to be risky investments. Getting to know market capitalization, share structure and money flow of those companies let traders see the earning potentials as well the underlying risks of their investment. Understanding commons scams, dilution, and loss of investment value associated with penny stocks should save one from getting penniless due to bad investment.

Never invest beyond your resources.  Make sure you have sufficient savings to last three months in case the investment goes south.

Subscribing to newsletters can be of great help in getting hints on penny stocks that are likely to go through a breakout period. Share prices of these penny stocks usually soar once mentioned in a newsletter.  Given the small market capitalization of such equities, price can be greatly affected by a relatively small number of investors. However, owing to the fact that some people maybe actually paid to produce hype in order for shares to sell, traders should be cautious with any group or names suggested in random e-mails.

“”, offers newsletters which help its members make the most in trading penny stocks. Its increasing number of subscribers stands as a testament to its success. has seven years of experience helping traders up their odds of trading penny stocks success.

For helpful insights on trading penny stocks successfully, one may sign up for’s free newsletter at

One should remember that trading is not a hobby but rather a business. In order for you to up your chances of making money with penny stock trading, you need to have sounnd understanding and management of  your profit and loss.

How to Avoid Paying Interest on Your Credit Card Balance for Next 21 Months

A majority of population in America is burdened by high interest rates on credit card balances and it is really taking a heavy toll on individuals. Managing debt has become a very crucial factor for everyone and today Americans are looking for a way out to manage their debt condition.

There is good news for all those who are worried about debt relating to their credit cards. Post February 2012, you can avail zero interest balance transfer on your credit card. It works like this. All your debt relating to credit card can be transferred to a new interest free card thus making yourself free from paying any interest on your starting balance up to 21 months.

The process has dual advantages. Firstly, you don’t have to pay any interest on your debt and secondly, all the money that you pay will actually shrink equally from outstanding amount. This was not the case earlier as a majority of your payment comprised interest, leading to only a part of your debt to shrink. The new policy will surely bring back smiles on everyone’s face.

It will also have direct impact on your credit score, apart from debt ratio. However, before you actually plan to reap in these benefits, there are certain things that need to be considered.

  • Be sure that you’ll be able to pay off your debts in this stipulated period. You’ll have to bear heavy interest rates if you fail to do so.
  • Always choose your period of no interest wisely as it could hold the key for debt clearance.
  • Be sure about the amount due and transfer fees to avoid any surprises.
  • Keep away certain money towards payment so that your debt doesn’t become a burden

The new credit policy also has some bad news in store for you. The new policy means that credit card companies will have liberty to increase interest rates with a prior notice of 45 days. This applies to every borrower. Make use of free online services that help you choose best credit card with zero percent APR.

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