Archive for Credit Card Debt
Jan
11
The Automatic Millionaire Homeowner: A Powerful Plan to Finish Rich in Real Estate
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Product Description
Imagine this. You buy a home, live in it, then buy another. You build your wealth through real estate—and then retire rich. It may sound too good to be true. But it’s not. It has happened, it’s happening now and it will continue to happen for millions of people over the next few decades. The question is, will it happen for you?
If you want the answer to be “yes,” then stop what you are doing and open this book. Read a few pages. Bach’s simple strategies make you rich where you sleep. All you have to do is follow his easy program to go from renter to owner, and from owner to Automatic Millionaire Homeowner. The rest is automatic!
What’s the secret to becoming a millionaire in real estate?
Since the runaway success of David Bach’s #1 New York Times bestseller The Automatic Millionaire, people all over the world have asked David the same question—is it really possible for me to get rich in real estate?
Now, in The Automatic Millionaire Homeowner, David Bach reveals why buying a home and investment properties is not only possible, it is the surest way to reach your seven-figures dreams on an ordinary income.
The Automatic Millionaire Homeowner starts with the powerful story of an average American couple with a modest income who stretch to buy their first house for $30,000 and retire 35 years later owning a home on a golf course and rental properties worth over three million dollars. Through their story you will learn the surprising fact that even if you have cheap rent you can’t get rich renting! You must first own a home, and make it the foundation on which you build your financial security.
What Makes The Automatic Millionaire Homeowner Essential:
You don’t need a big down payment to buy a home.
You don’t need great credit.
You should buy even if you have credit card debt.
You can buy a second home even if you’re still paying off the first.
You can get started in any market–boom or bust.
It’s easier to be a landlord than you think.
Whether you are a renter or already own a home, David Bach gives you a lifelong strategy for real estate based on timeless wisdom that is tried and true. He includes everything you need to know, with step-by-step instructions, including phone numbers and websites so you can get started right away. His road map to ownership is easy to follow and, best of all, it makes the process totally automatic.
As long as you’re alive, you have to live somewhere. Why not let where you live make you rich? David Bach will show you how.Amazon.com Review
Finish rich in real estate! Bestselling author David Bach is back with The Automatic Millionaire Homeowner, another user-friendly, motivational book designed to help you “build wealth through homeownership” and “finish rich in any market.” Whether you already own your home or are renting, Bach gives you a long-term strategy with step-by-step instructions–making the process almost automatic!
More from David Bach
About Author
www.calkain.com
About Author
www.calkain.com
About Author
www.calkain.com
About Author
www.calkain.com
 The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich |
 The Automatic Millionaire Workbook: A Personalized Plan to Live and Finish Rich…Automatically |
 Smart Women Finish Rich: 9 Steps to Achieving Financial Security and Funding Your Dreams |
 Start Late, Finish Rich: A No-Fail Plan for Achieving Financial Freedom at Any Age |
 Smart Couples Finish Rich: 9 Steps to Creating a Rich Future for You and Your Partner |
 The Finish Rich Workbook: Creating a Personalized Plan for a Richer Future |
Jan
11
Runaway Credit Card Debt
Posted by: | CommentsCredit cards are no more a luxury, they are almost a necessity. So, you would imagine a lot of people going for credit cards. In fact, a lot of people posses more than one credit cards. So, the credit card industry is growing by leaps and bounds. However, the credit card industry and credit card holders are posed with a big problem called ‘Credit Card Debt’. In order to understand what ‘credit card debt’ actually means, we need to understand the workflow associated with the use of credit cards as such.
Credit cards, as the name suggests, are cards on which you can get credit i.e. make borrowings (your credit card debt). Your credit card is a representative of the credit account that you hold with the credit card supplier. Whatever payments you make using your credit card are actually your borrowings that contribute towards your credit card debt. Your total credit card debt is the total amount you owe credit card supplier. You must settle your credit card debt on a monthly basis. So, you receive a monthly statement or your credit card bill which shows your total credit card debt. You must pay off your credit card debt by the payment due date failing which you will incur late fee and interest charges. However, you have the option of making a partial (minimum) payment too, in which case you don’t incur late fee but just the interest charges on your credit card debt. If you don’t pay off your credit card debt in full, the interest charges too get added to it. So your credit card debt keeps on increasing, more so because the interest rates on credit card debt are generally higher than the interest rates on other kind of loans/borrowings. Further, the interest charges add on to your credit card debt each month to form the new balance or the new credit card debt amount. If you continue making partial payments (or no payments) the interest charges are calculated afresh on the new credit card debt. So you end up paying interest on the last month’s interest too. Thus your credit card debt accumulates rapidly and soon you find that what was once a relatively small credit card debt has ballooned into a big amount which you find almost impossible to pay. Moreover, if you don’t still control your spending habits, your credit card debt rises even faster. This is how the vicious circle of credit card debt works.
Credit cards are no more a luxury, they are almost a necessity. So, you would imagine a lot of people going for credit cards. In fact, a lot of people posses more than one credit cards. So, the credit card industry is growing by leaps and bounds. However, the credit card industry and credit card holders are posed with a big problem called ‘Credit Card Debt’. In order to understand what ‘credit card debt’ actually means, we need to understand the workflow associated with the use of credit cards as such.
Credit cards, as the name suggests, are cards on which you can get credit i.e. make borrowings (your credit card debt). Your credit card is a representative of the credit account that you hold with the credit card supplier. Whatever payments you make using your credit card are actually your borrowings that contribute towards your credit card debt. Your total credit card debt is the total amount you owe credit card supplier. You must settle your credit card debt on a monthly basis. So, you receive a monthly statement or your credit card bill which shows your total credit card debt. You must pay off your credit card debt by the payment due date failing which you will incur late fee and interest charges. However, you have the option of making a partial (minimum) payment too, in which case you don’t incur late fee but just the interest charges on your credit card debt. If you don’t pay off your credit card debt in full, the interest charges too get added to it. So your credit card debt keeps on increasing, more so because the interest rates on credit card debt are generally higher than the interest rates on other kind of loans/borrowings. Further, the interest charges add on to your credit card debt each month to form the new balance or the new credit card debt amount. If you continue making partial payments (or no payments) the interest charges are calculated afresh on the new credit card debt. So you end up paying interest on the last month’s interest too. Thus your credit card debt accumulates rapidly and soon you find that what was once a relatively small credit card debt has ballooned into a big amount which you find almost impossible to pay. Moreover, if you don’t still control your spending habits, your credit card debt rises even faster. This is how the vicious circle of credit card debt works.
Information on creeping fig can be found at the Plants And Flowers site.
Jan
09
Zero Debt: The Ultimate Guide to Financial Freedom (Zero Debt)
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Product Description
From the Author: I know what it s like to have excessive credit card debt. In fact, I know the stresses of having $100,000 in debt. That s the main reason I wrote Zero Debt — to give people in debt a message of hope: You can conquer your debt! And in many cases, you can do it much faster than you think. If you re drowning in debt, I urge you to pick up a copy of Zero Debt to learn how to quickly eliminate that debt and get on the road to financial freedom. Don t delay: start dumping your debt today! Book Description: Would you like to be free from financial worries, rest at night knowing your bills are paid, and have peace of mind when it comes to money matters? Then you need Zero Debt. In Zero Debt, you ll discover: * How to get annoying creditors off your back * Insider secrets to reduce interest rates or eliminate credit card late fees * Your legal rights and what bill collectors can and can not do under the law * The best strategies to clean up your credit report or fix errors in your credit file * How to make lifestyle changes that will save you money for decades to come! If you want to be debt-free and achieve financial freedom, you need an action plan to guide you. This book is your step-by-step plan. It s simple. It s easy to understand. And it works.
Zero Debt: The Ultimate Guide to Financial Freedom (Zero Debt)
Jan
08
The Do-It-Yourself Debt Settlement. No Agency. No Fee.
Posted by: | CommentsKenny Golde’s ‘The Do-It-Yourself Bailout’ Gives Readers Insider Tips And Secrets On How To Call Their Banks And Settled Their Credit Card Debt For Pennies On The Dollar. And It Works. Readers Have Collectively Settled Nearly A Million Dollars In Debt.
Jan
06
TARP = Successful & TALF=?
Posted by: | CommentsThe alphabet soup of government stimulus programs can be both overwhelming and somewhat perplexing, however it does seem we are finally seeing the results of the initial TARP program, and any bi-partisan committee will most likely tell you it worked (while then adding their political spin of whether or not they approve of the current or former administration).
No, the $350 Billion dollars pumped into the financial system to prop up banks did not help you or your friend’s sister’s aunt get that new loan she wanted to buy a vacation condo, but that was never the intent. What that program was designed to do, and accomplished, was to re-gain the overall confidence of the consumer in the overall banking system. Bank of America stock, trading at $2.50 just six months ago, has rebounded to $17.50; JP Morgan Chase was at $15.00 and is back up near $45.00. If these prices are any indication that the consumer is confident in the largest financial institutions in the United States, I would say TARP worked.
The Term Asset-backed Loan Facility (TALF) is an entirely different program aimed at thawing the frozen market for securities collateralized by consumer debt (such as credit card debt and auto loans), student loans, SBA loans, and now commercial real estate mortgages. The TALF program was announced back in November 2008, however Shopping center REIT, Developers Diversified (NYSE: DDR) is one of the first firm to actually secure financing through this program. DDR recently applied for and finalized the details on $2B in TALF financing….and here comes the interesting part, it’s not cheap! DDR is working with two investment banks; Goldman Sachs and Citigroup, to prepare the two issuances of debt. While all the details have not been made public, a board member recently commented on the basic terms:
Tranche 1
- Underwriters performed a 5-year cash flow projection
- Carved out 15% for additional vacancy and credit loss
- Applied a 9% CAP rate on the resulting Income
- Providing financing based on 30% LTV with an all-in cost of debt near 6%
While the cost of debt is attractive, the extremely low leverage point constricts the assets being used to either debt free or nearly debt free. What happens if you want more leverage you ask???? Well DDR asked for more debt with the second batch of properties valued at $1B and here is the result:
Tranche 2.
- Underwriters performed a 5-year cash flow projection
- Carved out 15% for additional vacancy and credit loss
- Applied a 9% CAP rate on the resulting Income
- Providing financing based on 30% LTV with an all-in cost of debt near 6%
- For the debt component covering from 30% to 35%, the cost of debt is above 11%
- For the debt portion increasing leverage from 35% to 40%, the cost of debt is around 13.5%
As you can see, if you need a higher ratio of debt, it becomes cost prohibitive very quickly. While this solution worked for DDR to help shore up their overall portfolio and deal with some of the smaller debt maturities, this is clearly not the answer to the $700 Billion dollar problem formerly know as the CMBS market circa 2003-2007.
by netleasenation
About Author www.calkain.com
Jan
06
TARP = Successful & TALF=?
Posted by: | CommentsThe alphabet soup of government stimulus programs can be both overwhelming and somewhat perplexing, however it does seem we are finally seeing the results of the initial TARP program, and any bi-partisan committee will most likely tell you it worked (while then adding their political spin of whether or not they approve of the current or former administration).
No, the $350 Billion dollars pumped into the financial system to prop up banks did not help you or your friend’s sister’s aunt get that new loan she wanted to buy a vacation condo, but that was never the intent. What that program was designed to do, and accomplished, was to re-gain the overall confidence of the consumer in the overall banking system. Bank of America stock, trading at $2.50 just six months ago, has rebounded to $17.50; JP Morgan Chase was at $15.00 and is back up near $45.00. If these prices are any indication that the consumer is confident in the largest financial institutions in the United States, I would say TARP worked.
The Term Asset-backed Loan Facility (TALF) is an entirely different program aimed at thawing the frozen market for securities collateralized by consumer debt (such as credit card debt and auto loans), student loans, SBA loans, and now commercial real estate mortgages. The TALF program was announced back in November 2008, however Shopping center REIT, Developers Diversified (NYSE: DDR) is one of the first firm to actually secure financing through this program. DDR recently applied for and finalized the details on $2B in TALF financing….and here comes the interesting part, it’s not cheap! DDR is working with two investment banks; Goldman Sachs and Citigroup, to prepare the two issuances of debt. While all the details have not been made public, a board member recently commented on the basic terms:
Tranche 1
- Underwriters performed a 5-year cash flow projection
- Carved out 15% for additional vacancy and credit loss
- Applied a 9% CAP rate on the resulting Income
- Providing financing based on 30% LTV with an all-in cost of debt near 6%
While the cost of debt is attractive, the extremely low leverage point constricts the assets being used to either debt free or nearly debt free. What happens if you want more leverage you ask???? Well DDR asked for more debt with the second batch of properties valued at $1B and here is the result:
Tranche 2.
- Underwriters performed a 5-year cash flow projection
- Carved out 15% for additional vacancy and credit loss
- Applied a 9% CAP rate on the resulting Income
- Providing financing based on 30% LTV with an all-in cost of debt near 6%
- For the debt component covering from 30% to 35%, the cost of debt is above 11%
- For the debt portion increasing leverage from 35% to 40%, the cost of debt is around 13.5%
As you can see, if you need a higher ratio of debt, it becomes cost prohibitive very quickly. While this solution worked for DDR to help shore up their overall portfolio and deal with some of the smaller debt maturities, this is clearly not the answer to the $700 Billion dollar problem formerly know as the CMBS market circa 2003-2007.
by netleasenation
About Author www.calkain.com
Jan
06
TARP = Successful & TALF=?
Posted by: | CommentsThe alphabet soup of government stimulus programs can be both overwhelming and somewhat perplexing, however it does seem we are finally seeing the results of the initial TARP program, and any bi-partisan committee will most likely tell you it worked (while then adding their political spin of whether or not they approve of the current or former administration).
No, the $350 Billion dollars pumped into the financial system to prop up banks did not help you or your friend’s sister’s aunt get that new loan she wanted to buy a vacation condo, but that was never the intent. What that program was designed to do, and accomplished, was to re-gain the overall confidence of the consumer in the overall banking system. Bank of America stock, trading at $2.50 just six months ago, has rebounded to $17.50; JP Morgan Chase was at $15.00 and is back up near $45.00. If these prices are any indication that the consumer is confident in the largest financial institutions in the United States, I would say TARP worked.
The Term Asset-backed Loan Facility (TALF) is an entirely different program aimed at thawing the frozen market for securities collateralized by consumer debt (such as credit card debt and auto loans), student loans, SBA loans, and now commercial real estate mortgages. The TALF program was announced back in November 2008, however Shopping center REIT, Developers Diversified (NYSE: DDR) is one of the first firm to actually secure financing through this program. DDR recently applied for and finalized the details on $2B in TALF financing….and here comes the interesting part, it’s not cheap! DDR is working with two investment banks; Goldman Sachs and Citigroup, to prepare the two issuances of debt. While all the details have not been made public, a board member recently commented on the basic terms:
Tranche 1
- Underwriters performed a 5-year cash flow projection
- Carved out 15% for additional vacancy and credit loss
- Applied a 9% CAP rate on the resulting Income
- Providing financing based on 30% LTV with an all-in cost of debt near 6%
While the cost of debt is attractive, the extremely low leverage point constricts the assets being used to either debt free or nearly debt free. What happens if you want more leverage you ask???? Well DDR asked for more debt with the second batch of properties valued at $1B and here is the result:
Tranche 2.
- Underwriters performed a 5-year cash flow projection
- Carved out 15% for additional vacancy and credit loss
- Applied a 9% CAP rate on the resulting Income
- Providing financing based on 30% LTV with an all-in cost of debt near 6%
- For the debt component covering from 30% to 35%, the cost of debt is above 11%
- For the debt portion increasing leverage from 35% to 40%, the cost of debt is around 13.5%
As you can see, if you need a higher ratio of debt, it becomes cost prohibitive very quickly. While this solution worked for DDR to help shore up their overall portfolio and deal with some of the smaller debt maturities, this is clearly not the answer to the $700 Billion dollar problem formerly know as the CMBS market circa 2003-2007.
by netleasenation
About Author www.calkain.com
Jan
05
TARP = Successful & TALF=?
Posted by: | CommentsThe alphabet soup of government stimulus programs can be both overwhelming and somewhat perplexing, however it does seem we are finally seeing the results of the initial TARP program, and any bi-partisan committee will most likely tell you it worked (while then adding their political spin of whether or not they approve of the current or former administration).
No, the $350 Billion dollars pumped into the financial system to prop up banks did not help you or your friend’s sister’s aunt get that new loan she wanted to buy a vacation condo, but that was never the intent. What that program was designed to do, and accomplished, was to re-gain the overall confidence of the consumer in the overall banking system. Bank of America stock, trading at $2.50 just six months ago, has rebounded to $17.50; JP Morgan Chase was at $15.00 and is back up near $45.00. If these prices are any indication that the consumer is confident in the largest financial institutions in the United States, I would say TARP worked.
The Term Asset-backed Loan Facility (TALF) is an entirely different program aimed at thawing the frozen market for securities collateralized by consumer debt (such as credit card debt and auto loans), student loans, SBA loans, and now commercial real estate mortgages. The TALF program was announced back in November 2008, however Shopping center REIT, Developers Diversified (NYSE: DDR) is one of the first firm to actually secure financing through this program. DDR recently applied for and finalized the details on $2B in TALF financing….and here comes the interesting part, it’s not cheap! DDR is working with two investment banks; Goldman Sachs and Citigroup, to prepare the two issuances of debt. While all the details have not been made public, a board member recently commented on the basic terms:
Tranche 1
- Underwriters performed a 5-year cash flow projection
- Carved out 15% for additional vacancy and credit loss
- Applied a 9% CAP rate on the resulting Income
- Providing financing based on 30% LTV with an all-in cost of debt near 6%
While the cost of debt is attractive, the extremely low leverage point constricts the assets being used to either debt free or nearly debt free. What happens if you want more leverage you ask???? Well DDR asked for more debt with the second batch of properties valued at $1B and here is the result:
Tranche 2.
- Underwriters performed a 5-year cash flow projection
- Carved out 15% for additional vacancy and credit loss
- Applied a 9% CAP rate on the resulting Income
- Providing financing based on 30% LTV with an all-in cost of debt near 6%
- For the debt component covering from 30% to 35%, the cost of debt is above 11%
- For the debt portion increasing leverage from 35% to 40%, the cost of debt is around 13.5%
As you can see, if you need a higher ratio of debt, it becomes cost prohibitive very quickly. While this solution worked for DDR to help shore up their overall portfolio and deal with some of the smaller debt maturities, this is clearly not the answer to the $700 Billion dollar problem formerly know as the CMBS market circa 2003-2007.
by netleasenation
About Author www.calkain.com