Comments for Loan, Mortgage, Credit Forums and Payday Loans Resource http://www.loanrightaway.com This list of mortgage, loans, credit repair, and money forums is intended to lenders, borrowers, and webmasters. For lenders, you can introduce your loan Fri, 12 Mar 2010 02:41:47 +0000 http://wordpress.org/?v=2.7.1 hourly 1 Comment on Why is there a difference between the Interest Rate and the APR charged when financing a home? by Terry S http://www.loanrightaway.com/why-is-there-a-difference-between-the-interest-rate-and-the-apr-charged-when-financing-a-home/comment-page-1/#comment-1996 Terry S Tue, 02 Mar 2010 06:57:26 +0000 http://www.loanrightaway.com/why-is-there-a-difference-between-the-interest-rate-and-the-apr-charged-when-financing-a-home/#comment-1996 APR adds in all the fees you pay to get the loan. Hope this helps. Terry http://www.ScottsdaleRealEstateAdvisor.com APR adds in all the fees you pay to get the loan.

Hope this helps.

Terry

http://www.ScottsdaleRealEstateAdvisor.com

]]> Comment on Why is there a difference between the Interest Rate and the APR charged when financing a home? by wartz http://www.loanrightaway.com/why-is-there-a-difference-between-the-interest-rate-and-the-apr-charged-when-financing-a-home/comment-page-1/#comment-1995 wartz Tue, 02 Mar 2010 06:57:26 +0000 http://www.loanrightaway.com/why-is-there-a-difference-between-the-interest-rate-and-the-apr-charged-when-financing-a-home/#comment-1995 The APR is what the real interest rate is when you figure in all the points and fees. If you borrow $100,000 and get only $95,000 after fees and points and pay back 100,000 the interest rate is what you are charged on the $100,000 your borrowed, the APR is what you are paying on the $95,000 you got. The APR is what the real interest rate is when you figure in all the points and fees. If you borrow $100,000 and get only $95,000 after fees and points and pay back 100,000 the interest rate is what you are charged on the $100,000 your borrowed, the APR is what you are paying on the $95,000 you got.

]]> Comment on Why is there a difference between the Interest Rate and the APR charged when financing a home? by fren c http://www.loanrightaway.com/why-is-there-a-difference-between-the-interest-rate-and-the-apr-charged-when-financing-a-home/comment-page-1/#comment-1994 fren c Tue, 02 Mar 2010 06:57:26 +0000 http://www.loanrightaway.com/why-is-there-a-difference-between-the-interest-rate-and-the-apr-charged-when-financing-a-home/#comment-1994 ok puttin it simple the rate you have is the mortgage rate you pay. the way they get the apr rate you see includes the yield spread and all the fees. if you have an apr of 8% it is appraent you are paying higher interest rate to give broker additional money you dont see on the good fait estimate or the final hud. this could also mean you have some form of ARM mortgage adjustable rate mortgage. or a hybrid form of the same. having a APR that high is not rare but its not what you want APR means simply anual percentage rate. if they figure all the fees and yield spread that is what you are paying get anouther offer! that is way too high! Most brokers and banks will just say dont worrie about it it includes all the fees but if you understand that apr is calculated over 30 years. THIS IS A RED FLAG MOST BORROWERS DONT PICK UP ON! SHOP AROUND! YOU WILL FIND A BETTER DEAL FOR YOU OUT THERE there is only one company that demands thier loan officers dont charge yield spread directlendingplanet.com ok puttin it simple the rate you have is the mortgage rate you pay. the way they get the apr rate you see includes the yield spread and all the fees. if you have an apr of 8% it is appraent you are paying higher interest rate to give broker additional money you dont see on the good fait estimate or the final hud.

this could also mean you have some form of ARM mortgage adjustable rate mortgage. or a hybrid form of the same.

having a APR that high is not rare but its not what you want APR means simply anual percentage rate. if they figure all the fees and yield spread that is what you are paying

get anouther offer! that is way too high! Most brokers and banks will just say dont worrie about it it includes all the fees but if you understand that apr is calculated over 30 years.
THIS IS A RED FLAG MOST BORROWERS DONT PICK UP ON! SHOP AROUND!
YOU WILL FIND A BETTER DEAL FOR YOU OUT THERE

there is only one company that demands thier loan officers dont charge yield spread

directlendingplanet.com

]]> Comment on Why is there a difference between the Interest Rate and the APR charged when financing a home? by matzael http://www.loanrightaway.com/why-is-there-a-difference-between-the-interest-rate-and-the-apr-charged-when-financing-a-home/comment-page-1/#comment-1993 matzael Tue, 02 Mar 2010 06:57:26 +0000 http://www.loanrightaway.com/why-is-there-a-difference-between-the-interest-rate-and-the-apr-charged-when-financing-a-home/#comment-1993 APR has nothing to do with yield spread. It also has nothing to do with if your loan is an adjustable rate or any of that. The note rate is the rate you're charged interest at. The apr adds all the interest plus any other fees charged to you to get the loan (i.e. loan origination, processing fees etc) and figures that out as a percentage. There's always somewhat of a difference between the two numbers as APR includes things other than just the interest paid. You'll want to look at the Good Faith Estimate and see what other fees they're charging you to determine if anything's out of line. They shouldn't be hiding anything on the good faith, it should all be spelled out what they expect to charge you on your loan. When you compare loans from different companies you should compare the note rate AND the apr to determine how much they're charging you. APR has nothing to do with yield spread. It also has nothing to do with if your loan is an adjustable rate or any of that.
The note rate is the rate you’re charged interest at.
The apr adds all the interest plus any other fees charged to you to get the loan (i.e. loan origination, processing fees etc) and figures that out as a percentage.
There’s always somewhat of a difference between the two numbers as APR includes things other than just the interest paid.
You’ll want to look at the Good Faith Estimate and see what other fees they’re charging you to determine if anything’s out of line. They shouldn’t be hiding anything on the good faith, it should all be spelled out what they expect to charge you on your loan. When you compare loans from different companies you should compare the note rate AND the apr to determine how much they’re charging you.

]]> Comment on How do you transfer funds from a brokerage account to a bank savings account? by heyteach http://www.loanrightaway.com/how-do-you-transfer-funds-from-a-brokerage-account-to-a-bank-savings-account/comment-page-1/#comment-1992 heyteach Tue, 02 Mar 2010 06:55:43 +0000 http://www.loanrightaway.com/how-do-you-transfer-funds-from-a-brokerage-account-to-a-bank-savings-account/#comment-1992 Call Scottrade and tell them what you want to take out. If you call early enough in the day they'll cut the check that day; if not it will go out the next. Take the check to the bank. I do it all the time. Call Scottrade and tell them what you want to take out. If you call early enough in the day they’ll cut the check that day; if not it will go out the next. Take the check to the bank. I do it all the time.

]]> Comment on How do you transfer funds from a brokerage account to a bank savings account? by Dave W http://www.loanrightaway.com/how-do-you-transfer-funds-from-a-brokerage-account-to-a-bank-savings-account/comment-page-1/#comment-1991 Dave W Tue, 02 Mar 2010 06:55:42 +0000 http://www.loanrightaway.com/how-do-you-transfer-funds-from-a-brokerage-account-to-a-bank-savings-account/#comment-1991 I'm not sure about Scottrade, but at TDAmeritrade you can set up a link from your brokerage account to your bank account, then all you have to do is go on the TDAmeritrade website and indicate that you want to transfer x amount of money either to or from that bank account. If you enter the request before a specified time (maybe 5:00pm?), they transfer the money electronically that night. If you enter the request later than that, they transfer it the next night. When you first sign up, it takes a few days to get the link approved (they send some test transactions to make sure the account numbers are right, etc.), but after it's set up, it's very easy to transfer money either way. Be aware that it takes 3 business days after a stock is sold until the trade "settles". Even though your brokerage account balance will show the money in there, it's not really there until the settlement date, so you won't be able to transfer the money until then. Some brokerage accounts also allow you to write checks directly against the account. If you have one like that, you could just deposit a check written against the brokerage account into the bank account - or if you're paying a bill with the money, just write the check directly and skip the bank entirely. I’m not sure about Scottrade, but at TDAmeritrade you can set up a link from your brokerage account to your bank account, then all you have to do is go on the TDAmeritrade website and indicate that you want to transfer x amount of money either to or from that bank account. If you enter the request before a specified time (maybe 5:00pm?), they transfer the money electronically that night. If you enter the request later than that, they transfer it the next night.

When you first sign up, it takes a few days to get the link approved (they send some test transactions to make sure the account numbers are right, etc.), but after it’s set up, it’s very easy to transfer money either way.

Be aware that it takes 3 business days after a stock is sold until the trade "settles". Even though your brokerage account balance will show the money in there, it’s not really there until the settlement date, so you won’t be able to transfer the money until then.

Some brokerage accounts also allow you to write checks directly against the account. If you have one like that, you could just deposit a check written against the brokerage account into the bank account - or if you’re paying a bill with the money, just write the check directly and skip the bank entirely.

]]> Comment on What is the best way to deal with credit card debt? Consolidate or Credit counseling company? by See Saw http://www.loanrightaway.com/what-is-the-best-way-to-deal-with-credit-card-debt-consolidate-or-credit-counseling-company/comment-page-1/#comment-1990 See Saw Tue, 02 Mar 2010 04:49:07 +0000 http://www.loanrightaway.com/what-is-the-best-way-to-deal-with-credit-card-debt-consolidate-or-credit-counseling-company/#comment-1990 Consolidation is the best solution available to the credit cardholders to improve their future credit. People go for debt consolidation for many reasons: prolonging the loan period from 5 - 15 years and reducing the interest rate. Consolidation allows you to go for a loan with lower interest rate than the one you are currently paying. Besides it simplifies the loan repayment as you are paying only one lender in place of various payments to different lenders. Consolidation is the best solution available to the credit cardholders to improve their future credit. People go for debt consolidation for many reasons: prolonging the loan period from 5 - 15 years and reducing the interest rate. Consolidation allows you to go for a loan with lower interest rate than the one you are currently paying. Besides it simplifies the loan repayment as you are paying only one lender in place of various payments to different lenders.

]]> Comment on What is the best way to deal with credit card debt? Consolidate or Credit counseling company? by smile4cobra http://www.loanrightaway.com/what-is-the-best-way-to-deal-with-credit-card-debt-consolidate-or-credit-counseling-company/comment-page-1/#comment-1989 smile4cobra Tue, 02 Mar 2010 04:49:07 +0000 http://www.loanrightaway.com/what-is-the-best-way-to-deal-with-credit-card-debt-consolidate-or-credit-counseling-company/#comment-1989 Debt managers cant do anything for you that you can not do for yourself. They only mess up your credit even more and charge you for it. Additionally, since collectors and creditors have not obligation to even discuss the account with your credit manager and your credit manager can not stop creditors and collectors from sueing you or calling you directly...whats the point? You need to do it yourself my friend. Go to www.annualcreditreport.com and get a free credit report. You can do that right now. Check out your debts and start with the ones that want to sue you first. Before anything starts. Call them and begin to negotiate. I know people say bill collectors or agents are horrible but that is not always the case. Maybe in some cases but we dont all bite. I promise. (wink) Look...the best time to negotiate debts is at the end of the month when they are frantic to meet their quotes. The best way to go about it is to take it one creditor at a time. Make a deal and begin to settle. Start by offering 30% on credit bills and 15% on medical bills. The collector will start working the number up and negotiating. Give them the story that you are broke but dont lie to much as they have means of checking and it might upset them than they wont be open for such negotiations. Once you have a deal than its a deal and be sure to get it in writing before you pay anthing. At the same time try and make them throw in there that they will delete it off your credit report. Most of them will say pay all and I will others may agree. Make sure that is in writing as well. Some collectors may even accept your settlement in a couple of payment if it is too large for you to make. Naturally they will try and up the limit as much as you can but once you reached your max than put your foot down. If they dont take it at that moment...they will call you back when they are catching heat from the boss for not puting enough $$ into his piggy bank. Trust me. If you can not afford to make settlements than call them and negotiate a payment plan with them that you are comfortable with and know you will not default on. If they ask you to sign a payment plan agreement. Be sure its not a stipulation of judgment. Whats that?? Its a legal doc that says if you default they can submit it to the court and get a judgment against you without even bothering with litigation. Make your payments and your home free. Be sure not to request validation on accounts that you know are valid. If they are and the collector knows they are...it may make them think your taking them for a fool or trying what they call a "stall tactic". Than it might upset them and make the pull the trigger and have you served right away. You dont need that!!! But if you see something on your credit report that is not valid. File a dispute with all three major credit reporting bureaus and call the collector and ask for validation. Good Luck Debt managers cant do anything for you that you can not do for yourself. They only mess up your credit even more and charge you for it.

Additionally, since collectors and creditors have not obligation to even discuss the account with your credit manager and your credit manager can not stop creditors and collectors from sueing you or calling you directly…whats the point?

You need to do it yourself my friend. Go to http://www.annualcreditreport.com and get a free credit report. You can do that right now. Check out your debts and start with the ones that want to sue you first. Before anything starts. Call them and begin to negotiate. I know people say bill collectors or agents are horrible but that is not always the case. Maybe in some cases but we dont all bite. I promise. (wink)

Look…the best time to negotiate debts is at the end of the month when they are frantic to meet their quotes.

The best way to go about it is to take it one creditor at a time. Make a deal and begin to settle. Start by offering 30% on credit bills and 15% on medical bills. The collector will start working the number up and negotiating. Give them the story that you are broke but dont lie to much as they have means of checking and it might upset them than they wont be open for such negotiations. Once you have a deal than its a deal and be sure to get it in writing before you pay anthing. At the same time try and make them throw in there that they will delete it off your credit report. Most of them will say pay all and I will others may agree. Make sure that is in writing as well. Some collectors may even accept your settlement in a couple of payment if it is too large for you to make. Naturally they will try and up the limit as much as you can but once you reached your max than put your foot down. If they dont take it at that moment…they will call you back when they are catching heat from the boss for not puting enough $$ into his piggy bank. Trust me.

If you can not afford to make settlements than call them and negotiate a payment plan with them that you are comfortable with and know you will not default on. If they ask you to sign a payment plan agreement. Be sure its not a stipulation of judgment. Whats that?? Its a legal doc that says if you default they can submit it to the court and get a judgment against you without even bothering with litigation.

Make your payments and your home free.

Be sure not to request validation on accounts that you know are valid. If they are and the collector knows they are…it may make them think your taking them for a fool or trying what they call a "stall tactic". Than it might upset them and make the pull the trigger and have you served right away. You dont need that!!!

But if you see something on your credit report that is not valid. File a dispute with all three major credit reporting bureaus and call the collector and ask for validation.

Good Luck

]]> Comment on What is the best way to deal with credit card debt? Consolidate or Credit counseling company? by debz81 http://www.loanrightaway.com/what-is-the-best-way-to-deal-with-credit-card-debt-consolidate-or-credit-counseling-company/comment-page-1/#comment-1988 debz81 Tue, 02 Mar 2010 04:49:07 +0000 http://www.loanrightaway.com/what-is-the-best-way-to-deal-with-credit-card-debt-consolidate-or-credit-counseling-company/#comment-1988 I'd recommend credit counseling. See what they have to offer. Have you tried to contact each creditor individually to see if you can make different payment arrangements or if an interest rate can be lowered to lower your payments. A lot of times creditors would rather work with you than lose money. If the credit counseling doesn't provide any sound advice, then try debt consolidation...but be wary of some of the places that offer this service. I’d recommend credit counseling. See what they have to offer. Have you tried to contact each creditor individually to see if you can make different payment arrangements or if an interest rate can be lowered to lower your payments. A lot of times creditors would rather work with you than lose money. If the credit counseling doesn’t provide any sound advice, then try debt consolidation…but be wary of some of the places that offer this service.

]]> Comment on What is the best way to deal with credit card debt? Consolidate or Credit counseling company? by Richard F http://www.loanrightaway.com/what-is-the-best-way-to-deal-with-credit-card-debt-consolidate-or-credit-counseling-company/comment-page-1/#comment-1987 Richard F Tue, 02 Mar 2010 04:49:07 +0000 http://www.loanrightaway.com/what-is-the-best-way-to-deal-with-credit-card-debt-consolidate-or-credit-counseling-company/#comment-1987 Pay it off as fast as you can. Sometimes you can kite it for a while. Convert it to a mortgage is sometimes cheaper interest and tax deductible. You don't sound like you need counseling . Consolidate only if you can get a cheaper interest rate including fees. Pay it off as fast as you can. Sometimes you can kite it for a while. Convert it to a mortgage is sometimes cheaper interest and tax deductible. You don’t sound like you need counseling . Consolidate only if you can get a cheaper interest rate including fees.

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