Debt Management

Financial Trouble? Get a Title Loan

What can be more annoying than having no finance for your home, car or business at the time of need? People who are not that much strong to keep their pockets full of bucks all the time face many troubles in little things. In the need of hour, everyone wants liquid asset and other credit loans does not allow you to get a fast cash immediately. Title loans New Orleans helps you to solve your problem and provides you with the maximum possible amount of cash. It is a type of secured loan where mortgagors can use their vehicle title as security. Borrowers who get title loans must allow a lender to place a lien on their car title, and for the time being submit the hard copy of their vehicle title, in exchange for a loan amount. When the loan is repaid, the lien is removed and the car title is given back to its proprietor.

Here are mentioned some important features of Car Title Loan that you have to follow to get a loan.

Requirements

  1. You must be at least 18 years old
  2. You must have the original title of your car in your name
  3. There should be no existing liens on the vehicle
  4. The vehicle should not be more than 15 years old
  5. You must bring the vehicle to our store for a quick inspection and VIN verification

Time Limit

The whole application process can take as little as 15 minutes after submitting the required paperwork and having your vehicle inspected by our staff. The process is very straight-forward and can be approved very quickly once your application has been submitted.

Car Possession

The best part about Auto Title Loans at Orleans is that you get to keep your car while you pay off the loan. Many other title loan companies will require that you leave the vehicle in their care until the loan is repaid in full.

Working of Car Title Loan

  1. You Can Keep Your Car With An Auto Title Loan from New Orleans Car Title Loans
  2. You Can Keep Your Car With An Auto Title Loan from New Orleans Car Title Loans
  3. If you own a vehicle with a clear title, you may qualify for up to $1,000 cash instantly using an Auto Title Loan from New Orleans Car Title Loans.
  4. Title Loans allow you to put up your car’s title as collateral and get a loan based on the value of the automobile or vehicle.
  5. The actual amount of the loan is based on the value of the car and your ability to repay the loan.
  6. An Auto Title Loan is a secured loan, using your vehicle as collateral to insure that the loan is repaid.
  7. If you are unable to repay the loan or make other payment arrangements, you risk losing the vehicle as repayment for the loan.
Frugality

How Penny Auctions Work And A Few Tips

Penny auctions are becoming quite popular after the recession when shoppers are looking for good deals. True, penny bidding might get you some very good deals, but they are very unlike traditional auctions. Without knowing what these penny bids are, it is very risky to try to win listed items because you can lose a lot of money. This is How Penny Auctions Work?

What is a Penny Auction?

Unlike a traditional auction, penny auctions are not free to be bid on. Every bid you place, you need to pay a certain amount of money. This is very unlike real auctions. Also, you cannot place any bid amount that you want. You can only place a bid that would increase the price of the item by 1 cent typically (in some cases, it can be 2 cents as well). The way the penny auction makes money is by selling the individual bids.

The cost of each penny bids varies depending on the penny auction. At Quibids, which is one of the more famous and well known penny auctions, the cost of a bid is 60 cents.

How do they make money?

To find out how Quibids can give away such deals like a camera for $10 or Macbook for $50, let’s do a small math problem:

Suppose Quibids had an auction where the Macbook was given away for $50, which is not typical but one of the lowest prices of a Macbook. You might think that is a great deal, but let’s look at the auction in more detail. For the Macbook to sell at $50, there would have been 5000 bids because each bid increases the price by 1 cent. When 5000 bids are placed, it cost a total of 5000X$0.60 = $3000. The typical cost of this product might be around $1000, so that is still a cool $2000 profit for Quibids. So the site still makes money even by giving away Macbooks for $50! Usually a Macbook auction might go higher.

So the important thing to remember in penny auctions is that except the winner, everyone else loses money through the unsuccessful bids. So, if you really want to find good deals on penny auctions, you must make sure you are the winner of an auction no matter what. If things go bad and you are forced to place a lot of bids, you can always use the ‘Buy it Now’ feature of Quibids to purchase the item at the market price. This greatly minimizes losses.

3 tips to not get taken for a ride

This also brings an important point – don’t bid on items without the “Buy it Now” feature. Without this feature, you can easily be outbid on penny auctions and you will end up losing all the bids that you have used for that auction. Also, try to bid small at least in the beginning until you learn the process of penny auctions. As I already said, these are quite different from the traditional auctions that people are used to. Finally, remember that the best times to bid on penny auctions is during the non-peak hours, which are usually the mornings and office hours. Weekends tend to attract a lot of bidders and thus a lot of competition, so try to avoid them.

I hope this helped you learn How Penny Auctions Work.

Have you ever tried penny bidding? Would you?

Some of the links in this post are affiliate links that I make money from to take a trip to the North Pole to meet Santa Clause.

 

Book Reviews

Should I Buy This Book? Review: Creating Your Own Destiny

I am just going to give you a quick review of Creating Your Own Destiny.  I really enjoyed this book.  It teaches you how to control your life and not let others control it for you.  It also talks about creating your own wealth by starting businesses and starting different streams of income which is the key to becoming financially free.

This book also has a great section about overcoming fears and adversity.  Just start.  Go after what you want in life.  A great example is starting your own business; the hardest part is just starting.  This book does a good job of providing motivation that you need to start a business.  It also goes into setting up goals to accomplish becoming financially free .  I really, really, really enjoyed this book.  I think that everyone should own a copy.  It is very motivational.  This book is a short book, only about 150 pages.  It isn’t a long read but is packed full of a lot of information.

Buy This Book

Creating Your Own Destiny New

Creating Your Own Destiny Used

Home Ownership

Beware of Hidden Costs in Mortgage Deals

Whether you are buying your first home or have purchased and refinanced several homes over the years, you no doubt are making your best effort to budget and plan financially for your mortgage. The most obvious expense associated with a mortgage pertains to the regular monthly obligation of your mortgage payment. However, a mortgage also comes with various loan fees and closing costs. Some of these are required to be paid at the beginning of the loan process, and others will be paid at the closing table. While effort is made to fully disclose these fees and costs to a mortgage applicant, there are some hidden costs and fees that often take a mortgage applicant by surprise.

Taxes and Insurance

Many mortgage lenders require you to establish an escrow account when you open a new loan. This escrow account will be used to pay for property taxes and interest, and lenders generally prefer to keep approximately three to six months’ worth of property taxes and homeowner’s insurance payments in the escrow account. The actual amount collected from you, however, will vary based on the time of year it is and the lender’s requirements. A collection of several months’ worth of property taxes and homeowners insurance is a significant expense that is often overlooked.

Loan Origination Fees

A loan origination fee is a fee that a broker charges you to work on your loan, and some lenders will also charge this fee. Some may call it an origination fee, and others will call it a generic loan fee or a lender fee. In some cases, this is a flat fee that is easy to budget for. However, it is common for this fee to be listed as a percentage of the loan amount. A seemingly small percentage, such as one or two percent, may be overlooked by a typically borrower as a small fee. However, in reality, a one or two percent fee can be rather significant.

Loan Points

Loan points or “buydown” points are often tacked onto a loan in order to reduce the interest rate. Some lenders and mortgage brokers will advertise a very low interest rate that has several loan points tacked onto it. You may believe that you are getting a great deal on your loan request because of the unbeatable interest rate you are receiving. However, the loan points that are being used to buy down the interest rate will generally need to be paid at closing, and these typically will range from a half a percent to two percent or more. The cost of loan points coupled with other closing costs and fees can be expensive.

It is common for total loan costs on a typical loan to be approximately three to five percent of the loan amount. However, there is a great deal of flexibility and variation in this area. Some fees are negotiable, such as loan origination fees, and some borrowers have been able to reduce their closing costs through negotiation. Other fees may be needed. For example, mortgage protection insurance or a borrower may need to buy down the interest rate with a loan point in order to qualify for the loan amount needed. Regardless of the total loan costs, these expenses and fees ultimately can catch you off guard if you have not planned for them. With this in mind, ask your lender or mortgage broker for an estimated closing statement very early on in the loan process. If any factors change during the loan process, request an updated estimated closing statement. This effort can help you to better plan for the closing costs and fees associated with your loan.

Home Ownership

Homes Sales to Chinese More than Double in Past 7 Years

Homes sales are up across the board, which means that the economy is steadily growing. However, one demographic stand out as having a huge growth in home buying since 2007, and that is the Chinese. A lot of these residents are in Southern California, but across the United States the sale of homes to Chinese to Chinese-Americans has grown. There are many reasons for this growth, but whatever the buyers reason is, it is good for the overall economy.

One reason that Chinese nationals could be buying in the United States is for investment property. Property in China and Hong Kong is notoriously pricy, as well as scarce. The housing market in the United States always has plenty to offer, as well as buyers who are more than happy to drop the price a little to get cash payment. Cash payments are more common with overseas buyers than with stateside buyers, and with little else attached, owners are usually happy to cut a bit of the price to get cold hard cash. Many come to the United States to find jobs or to attend college, and China and Hong Kong are hard pressed for jobs right now, unless someone is highly educated. While they may not make as much money working in the United States, the lower cost-of-living expenses helps even out the lower wages.

One obstacle of foreign homebuyers is how American homes are set up. If you have ever flipped through an international architecture magazine, or watched “House Hunters International” on HGTV, you know that homes overseas are sometimes vastly different from American homes. Our homes have much more space than homes in Asian countries, and are set up completely different. While a massive staircase in the foyer may be a status symbol to Americans, it is Feng Sui no-no to those who practice it. Feng Sui is a system where the placement and colors of objects help move energy through the location. Therefore, for the massive staircase in the foyer, it can press energy from upstairs downward and out the door, which you do not want. This can be combatted with a red rug, which keeps the energy upstairs, flowing freely. Homes in the United States are usually freestanding structures, even in large cities, and the opposite occurs in China and Hong Kong. Even though the United States has condominium and apartment options for habitation, they are usually much larger, and with more amenities, than homes overseas. The size, costs, and amenities drive many to look at the United States as a place to live, or at least a place to invest in.

Home sales overall have increased, but the one demographic that stands out are sales to those that are Chinese-American or Chinese nationals. There are many possible reasons for this jump in sales, from our economy to our cheaper home prices to our home amenities and sizes that are not available elsewhere. Regardless of the reason, the influx of international buyers is helping our economy gain steadily.

Blair ThomasAbout the Author:  Blair Thomas is the co-founder of eMerchantBroker.com the #1 high risk Credit Card processing company and he could tell you how to get a merchant account with bad credit at amazing rates! He has been in the electronic payments industry for over 10+ years.  When he is not running his business he spends his time writing and producing music, which has been featured in a variety of films.