All About Credit by Deborah McNaughton

By Deborah McNaughton

In case you have great debt, you wish strategies and also you desire them now. brings jointly the questions humans ask so much approximately credits. This ebook is designed for a reader who wishes speedy and easy-to-understand options to precise credits difficulties. prepared round vast themes like divorce, assortment firms, financial ruin, and ladies and credits, readers can quick use the booklet with out wading via extraneous info. Deborah McNaughton, one among America's most well known client credits specialists, solutions questions about qualifying for or being denied credits, mortgages, issues of collectors, and bankrupty.

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What looks like a profit today results in a reduced value in later years, as inflation eats away at the value of money over time. Putting cash into a standard savings account at a bank is a safe investment, but it is hardly very profitable. To make real money, investors must gamble, and real estate has proved to be a healthy gamble with few risks when long-term investors play their cards right. The annual appreciation of real estate is only one way in which investors create wealth. If property is used for rental purposes, the rental income increases with inflation and allows investors to receive cash at current money rates, rather than seeing their profit devoured by inflation.

The usual requirement for a nonowner-occupied building is 20 percent. Some lenders demand a down payment of 30 percent on investment property. Yet, with owner financing, you might obtain a building with no down payment. No rock-solid rules cover loans that are not sold on the secondary mortgage market. When you borrow money from a source that will sell the loan on the secondary mortgage market, however, the loan requirements are more strict than they might be with portfolio loans. A portfolio loan is one that is not sold on the secondary mortgage market.

As long as you make solid, money-making deals, this is a great way to go. The downside to using existing equity to leverage a new purchase is the risk of losing both buildings if you have financial trouble. Both buildings are tied together with companion mortgages, and any default on one building affects the loan on the other. Later chapters will expand on this topic. Page 10 Build Wealth for Retirement Almost everyone dreams of retiring wealthy. Savvy real estate investors have a wonderful chance of seeing this dream come true.

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