By Marie-Claire Smith

Are you in the market to buy a home for the first time? Congratulations! Just having made the decision to buy a home means you are further down the path toward home ownership than you may think.

Sure, you may experience some stumbling blocks along the way. For example, you may have some anxiety about not fully understanding every detail of the mortgage loan process. Or, maybe you are concerned that your low credit score could hold you back from qualifying for a loan. These feelings are all totally understandable – and you no doubt share them with just about everyone else who has ever prepared to buy a home for the first time.

In terms of the home-buying process, you will find that you will feel better after doing some research on how it works. It may be helpful for you to talk with a friend, co-worker, or family member about their experience with how the process works.

When it comes to your credit score, it is true that your score does play an important role in whether you will be approved for a loan – and what your interest rate will be once you are approved. Still, your credit score does not have to hold you back from getting approved for a home loan.

If you are looking for bad credit first time buyer home loans, consider these 5 tips for helping you find a low interest rate:

1. Remember that you are NOT your credit score:

Start by looking at yourself in the mirror and saying, “I am NOT my credit score.” Why is this important? Because, people with bad credit scores can get so down on themselves that they start equating their own chances for securing a loan with their FICO score. This is just not necessary, so do yourself a favor and get rid of that misconception right away.

2. Use your lack of experience in buying a home to your advantage:

Do not listen to everybody you know who is more experienced at buying homes than you. If they try to tell you what CANNOT be done, you will probably just stop in your tracks and quit trying for the home of your dreams. Instead, take a bit of pride in your “beginner’s mind” and just let the home-buying process unfold for you.

3. Check out FHA first time buyer programs:

You should build up a list for yourself of bad credit home loan lenders. Use a mix of lenders you find online and FHA-approved lenders who may be able to offer you deals through special first time home buyer programs.

4. Study and become familiar with your current credit reports:

Go ahead and order your latest credit reports from the 4 major reporting bureaus. Remember that your credit score will differ a bit from one to the next. Go through each report and take notes. Write down, in particular, anything that stands out as being fishy or obviously incorrect. Report any errors to the bureau who issued the report and get them corrected.

5. Do not stop until you have applied for a loan to at least 3-5 bad credit home loan lenders:

Now, it is time to start applying for loans. Be sure to apply to at least three to five of the bad credit lenders on your list. In fact, do not stop until you have applied to all of them.

Now you are ready to go out there and land your first time home buyer home loan. Good luck -and do not let anybody tell you that it cannot be done. Just get out there and make it happen. You can do it!

About the Author: Get access to more first time bad credit mortgage tips and lending resources at: First Time Bad Credit Mortgages.

Source: isnare.com

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By Stewart Wrighter

Structured settlements are cash that is awarded to one party by the courts that will not be paid all at one time. The most common use of a structured settlement is to compensate an injury victim in a legal claim. The plaintiff and defendant agree to pay compensation over a certain period of time. This arrangement can be used with, or it to replace an immediate cash settlement all at once. It is often paid to major Life Insurance companies, who then pay the money to you in the form of an annuity.

This type of compensation has many benefits to the victim. First, these types of payments are exempt from Federal, state, and local taxation. It is like getting free money. It can be tailored to meet both current and future needs. For instance, it can be used immediately to meet past due bills and obligations, or to meet living expenses while recovering from the injury. However, it can also be set aside to provide for future needs, such as college tuition, retirement, or future surgeries. These payments are flexible and can be used to provide needed security in the future.

It is perfect for those who are no longer working, either because they are retired or who cannot work as a result of the injury. It is important to understand that you need a professional who is working for you, rather than the defendant if you are offered a structured settlement. Remember that the defendant’s attorney is loyal to the defendant and you need to consult a planner who is loyal to you and knows all of the possible solutions available to you in your particular situation. Obtaining the services of someone who is loyal to your interests is one of the most important steps that you need to take before accepting an agreement.

The first thing that you should do is to contact someone who specializes in this type of compensation before you undertake such an important decision. The professionals can help you get the best annuity rate and know the companies that will offer the best arrangement for you. These payments can be complicated and there are many options when it comes to the products offered by life insurance companies.

Structured settlements can be sold with the permission of the court at a later time if the needs of the recipient change. In most cases, if the need arises, then the recipient can file a motion to change the agreement. The court will also take into consideration the background of the buyer when a buyout is requested. A structured settlement is one of the most flexible ways to receive funds that are owed to you as result of a court decision. There are many things to consider and everyone’s situation is different. It is best to arrange a consultation with a professional to discuss your options for your future needs and help you avoid taxes. It is one of the most flexible options for receiving cash that is owed to you from an accident or injury and one of the best ways to secure your future.

About the Author: Stewart Wrighter recently researched a landmarkstructured settlement case for an article. He learned that structured settlements are the best alternative in some cases.

Source: isnare.com

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