Personal Finance Tips – Help With Debt Relief

Grace period, rescheduling and recalculation of credit are compromise solutions that those who were left without incomes can defer payment of rates from banks. This opportunity is, however, only temporary. Grace period can reach up to half a year, within which it is suspended the payment of monthly rates.

Those who received such loans had a chance to recover from a financial standpoint, and banks do not assume any additional risk – unpaid interest and rates within the grace period are being related to the other rates, from the moment their pay resume.

Regardless of the loan: personal loan with no mortgage (for a term not exceeding 10 years), personal loan with mortgage (maximum 25 years) or housing loan (for a term of up to 30 years), banks have availability to reschedule and restructure loans to clients with problems that come from time to discuss the debt situation.

Rescheduling is to change the due and / or the fees of one or more credit rates in balance by exceeding the initial period of credit and / or framing credit in another category, as appropriate (medium, long), but never exceeding the maximum loan period for that product. This method is characterized, usually, by the following main elements:

– perception, possibly of a restructuring commission at the date of signing the additional act;

-Amendment of the credit repayment rates of initial schedule;

– In case of outstanding amounts, they may be included in the loan balance, leading to its increase;…

Read More

Real Estate – Is it Time to Buy Yet?

Depending on where you are in America right now, real estate might look like a very tempting investment. Across the board, housing prices have dropped by 50% or more, and interest rates have never been lower in our lifetime. What could possibly be bad about taking some money and putting it back in the housing market right now?

Unfortunately, quite a few things can be bad. Because in this market, in this economy, the money you’ll be spending is only part of the equation. The other, more difficult part is how you are going to get that money back.

First of all, just because the price of a property has dropped by half doesn’t mean that property is undervalued, and that all that equity is going to come back sometime in the near future. Remember those real estate prices that kept climbing and climbing? We just got out of that bubble, and some experts feel the recent price drops were more along the lines of a correction. And the fact is, whether or not prices will eventually go up (and I do believe they will), and regardless of how high they will go, real estate is definitely not the place to make your money back in a short period of time.

The reason? Maybe you can buy a property at an attractive price, with attractive terms. But will you be able to sell that same property for a price you consider equally attractive?

Is the area attractive to …

Read More