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Until now a British taxpayer could avoid paying income tax by taking up residency in a tax haven such as Andorra or Monaco, and be allowed to spend 90 days a year in the United Kingdom before falling foul of the British Inland Revenue. Just to clarify – both the day of arrival and departure into the UK doesn’t count as a day.

Technically speaking, a tax exile individual living in Andorra could drive to Barcelona airport for a 7am flight to London, and given the hour’s time zone difference between Spain and the UK, be comfortably sitting in his/her office in the UK and working by lunchtime. Read the rest of this entry »

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Buy Notes – Do You Know Your Borrower?
I just got off the phone with the Sr. Vice President of a California bank in charge of note sales, and a note broker friend of mine who set up the call.

The bank had 3 defaulted mortgages which were commercial loans based in the Los Angeles area.

How to Buy Notes…communicate with your borrower

Hear me out…

The bank told me that one of the loans was in foreclosure and had a sale scheduled in a couple of weeks.

The bank had not been in contact with the builder/developer (borrower).

I asked her if she was worried about possible problems when taking over the properties through foreclosure. And if she had any other concerns regarding the loans.

She answered: “No, because we feel the value of the properties is sufficient to pay off our loan.”

My Concerns With Buy Notes Situation

The most important thing that I have learned is that building the relationship with your borrower is key. This is probably one of the most important concepts in the note buying business. Manage your relationships.

And if you don’t work with your borrower, then you’re really hurting your chances of getting out of a note deal.

This is why…

There are essentially 5 Buying Notes Exit Strategies for all Loans:

reperformance, refinance, short sale or deed-in-lieu, refinance, note sale, foreclosure.

Only 2 of those plays, foreclosure and note sale, can succeed without any communication at all with the borrower.

In this example, the bank has chosen foreclosure as the exit. But the time it could take to recover the property can easily be postponed, if the borrowers file for bankruptcy. This is one of the risks associatied with foreclosures.

Buying Notes – My Advice

When buying notes, you can earn terrific returns without having the either sell the note or foreclose on the property.

And if this is true, then not maintaining contact with your borrower will jeopordize 60% of your note buying exits. (3 of the 5)

Would a seasoned golfer get onto a golf course with only 5 out of their 12 clubs?

Would that be somewhat limiting to their game?

I’m pretty sure of it.

It sure would be entertaining watching him hit a putt with a 9-iron.

I know it can be painful, but working with your borrower is essential in the note buying business.

This is the same advice that I shared with the LA bank today.

Will they take my advice? I am going to be tracking her discounted notes to see if any of them end up in bankruptcy court.

If those notes do end up in bankruptcy, it’s for certain that she will be wishing that she kept communication with her borrowers. Interested in learning more about the Note Buying Business? Watch Hours of FREE Training Videos here: Buy Notes Real-life, Up-to-Date Information for You. Visit NoteBuyingProfits.com or Call 718-783-7605 Or Click Here: Buy Discounted Mortgages From Dean Engle & NoteBuyingProfits.com – This time on Buy Notes.

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While Senior Care Giver Facilities run by the government are changing for the better in some countries, there does seem to be some debate due to the low wages paid in this field. Staff leave frequently to find higher paid jobs, which means that residents are serviced by an ever changing number of personnel, where it can be difficult to find the time to get to know one another and build the trust and consistency they require in their sometimes already turbulent lives.

Private assisted care facilities have become popular over the past decade, where it’s reported that salaries are higher, which in turn means that there is not so much change for the residents to cope with. Read the rest of this entry »

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The exact review process for corporate credit is going to depend on the lender, but there are some basics that all of them are going to cover. Knowing what they are can help you to be prepared to provide the right information. A high number of applications for corporate credit are denied due to the application not being complete or verifications that are asked for never being received. Read the rest of this entry »

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Well take a look at fixed rate mortgages and how they can be good for you. We’ll then look at using a mortgage overpayment calculator. Security comes with the fixed rate mortgage, whereas huge savings can come with the overpayment calculator.

Fixed rate mortgages are one of a few different types of mortgage available. The interest rate is fixed, usually for a number of years. Locked in interest rates mean locked in monthly payments.

What, if any, are the up sides to fixed rate mortgages? No need to worry about fluctuating interest rates. Your rate and your payments are fixed. It’s a lot easier to plan financially knowing your payment will be the same.

No matter what the average interest rate is, your rate will stay the same. There have been some alarming short term interest rate rises in our recent history. A rapid rise over a year or so could really see payments rise for those on standard variable mortgages.

Under certain circumstances, a fixed rate mortgage could be a mistake. If you suddenly have an extra family member and need more space. Or you are simply considering moving home soon. Any situation which sees you changing mortgage can invoke a horrid redemption penalty on you.

A redemption penalty is a charge that almost always comes with a fixed rate deal. You can get hit with a nasty charge when you are least expecting it. These unexpected charges can hurt. Consider carefully whether a fixed rate is the one for you.

A consideration during your mortgage term is to pay a bit extra each month on top of your normal payment. You don’t have to make the same payment month after month for 25 years. You lender will prefer you make the minimum payment and will never tell you it’s possible to pay extra.

If you do pay extra each month, are there any benefits to this? You can easily shave years of your mortgage. Be debt free much earlier. You also save a lot of money in the process, sometimes a staggering amount.

In what way does a mortgage overpayment calculator work? Enter all the figures that relate to your mortgage. You can then play around by changing the figure you can afford to overpay.

You get to see what sort of length in years you can knock off. It also tells you what sort of financial saving you can expect to make. Both the years and cash saved obviously increase if you put in a higher overpayment figure.

Some of the savings can be staggering. As an example, borrow 100,000 at 5% over 25 years. By paying an extra fifty each month could save you over 3 years and 12 thousand.

That example is paying just 50 extra every month. What if you could afford 100 a month to overpay? Paying 100 extra every month using the same example mortgage. You get to shave over 6 years off the length and over 20 grand saved. That’s pretty good.

An extra advantage is you won’t have any payments to make during the last few years of the mortgage. Being mortgage free a few years early could easily be achieved by paying a bit extra now. You never get info like this from your lender. This sort of stuff is kept quiet by the industry.

If we look at the example where we paid 100 extra and knocked over 6 years off the length. A six year saving translates into about a forty grand saving in cash. This is 40 grand in your pocket and not your lenders. Overpaying is difficult, make no mistake, but the rewards can be amazing.

There you have a few benefits of going for a fixed rate mortgage. You get to sleep easy in the knowledge your payment will stay the same month after month. We also looked at potential savings by paying extra each month. Every little helps. Grab a FREE copy of Monty’s Mortgage Bible, the book that caused the Voluntary Mortgage Regulator to sack him. Get a great fixed rate mortgage deal here. You could also try our overpayment calculator on your mortgage and see what you could save.

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The reason Self Directed IRAs are so popular is that there are many different types of real estate investments you can make with them. One of the most popular ways many choose to maximize their profits with a Self Directed IRA is to flip properties. Following are three things to keep in mind to help you maximize your investment dollar when flipping properties. Read the rest of this entry »

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As online shopping becomes more popular with savvy consumers around the world, an unwelcome side-business has also increased in activity: credit card fraud.

And while credit card fraud is certainly not limited to the online marketplace, internet users experience more than their fair share of dodgy transactions every day.

To protect your credit card details when shopping online is virtually impossible, but there are plenty of things you can do to minimize your risk.

Your first step towards protecting yourself against credit card fraud is quite straightforward: be extra, extra careful when using your credit card online. This means never inputting your credit card details unless you’re certain the website is trustworthy and reputable. Most online check-out systems allow you to pay via third party processors such as PayPal, which offers an extra layer of protection against credit fraudsters, so consider using these wherever possible.

Also, never respond to emails that ask you to follow certain links and enter confidential information – even if the website appears to be a trusted site, such as eBay or Amazon. Internet fraudsters have been successful in developing sophisticated software and websites that look just like the real thing, so never assume that the link can be trusted. Instead, close the window and re-open a new browser, manually type in the web address, and proceed with your transaction this way.

It’s prudent to remember, as well, that emails are not secure, so you should think very carefully before sending credit card information via email.

Having said this, you should bear in mind that the internet can also prevent you becoming a victim of credit card fraud. If you check your bank balance online regularly – you should, ideally, at least once per week – monitor your transactions and identify any unusual purchases early on. When you receive your monthly statement in the mail, you should also cross-reference it with your receipts.

In an offline environment, never let your credit card out of your sight. Skimming – where credit card details are copied, and then duplicated onto new cards – is becoming more and more common, but there are steps you can take to minimize this risk.

For example, if you’re in a restaurant don’t hand over your card to the waiter/waitress; alternatively, walk up with him or her to the cashier and hand over your card in person. If you’re in a high-end restaurant and you’re embarrassed about paying this way, apologize and possibly make up the story to the waiter that you’ve previously been the victim of credit card fraud, so you prefer not to let your card out of your sight. It’s better to be embarrassed for a short while, as opposed to finding out that thousands of dollars has been illegally charged to your card!

What if your account has been compromised?

Should you think that unauthorised transactions have been charged to your credit card, let your card provider know immediately. They will quickly cancel your card and issue a new one, to prevent any further transactions from going through. Your account will be reimbursed if after investigation and do find that unlawful transactions have occurred. Peter Carville is a freelance article writer who writes for Financial Facts about the current financial news and the credit crunch.

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Background checks are very common now. While people applying for a job used to just go through a simple background check, nowadays people can do a background check for just about any reason and the checks have become much more extensive than they used to be. What is an extensive background check? Read on to find out!

To help you determine who the players are in this article, the person who is receiving the comprehensive background check is known as the “subject” while “checker” will be the name used for the person that’s performing the background check.

A comprehensive background check gives the checker access to the following details about the “subject”. Read the rest of this entry »

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