Creative Financing Options for Home Purchase

     Those who have not purchased a home before may not be aware of how stressful the buying process could be. Lenders required several documents to verify employment, income and credit.

     It is a sad but known fact that many individuals hoping to buy their first home cannot do so because of failure to qualify with the bank requirements. However, there are several options to a traditional bank mortgage. There are investors and private lenders who offer non-conventional financing for those who do not qualify for a bank loan.

     This is creative financing wherein a home mortgage includes several options. Anyone can purchase a property with the use of any of these methods in spite of credit or income. In some cases, a buyer could even save money by using these methods.

     Allow me to discuss these types of creative financing:

1.  Assuming a property is a type of financing that requires you to look for a property with assumable mortgage. This could be a little tricky; nevertheless, when you find one, the benefits could be endless. If you are interested in home assumption, consult a real estate investor since they are in the business to buy a home for less and sell it for a profit.

2. Another type is the no down payment. One of the reasons why many are unable to purchase a house is because they have no money to make a down payment. Fortunately, there are first time home buying and down payment assistance programs that could assist you. Contact local lenders and ask about this mortgage. Normally you are required to attend a home buying workshop before you are eligible. Nevertheless, carefully consider this option since one of the drawback could be a higher rate of interest.

3. A perfect option for those who do not qualify for a conventional loan is the seller financing. A seller will act as the lender of the home. The buyer, instead of paying to a bank will pay instead to the seller. Both will agree on a financing term, which is shorter than a conventional one. At the end of the term, the buyer will likely owe a balloon payment.  This works well for those who are trying to rebuild their credit. Once their credit is acceptable, the buyer will finance the payment with a conventional lender. The money will pay-off the seller and the buyer can start making payments to the lender.

4. A contractual agreement between seller and buyer is the lease option. A seller allows the buyer to rent the home as he or she saves money to make a down payment or improving credit score. The buyer locks into a future purchase and agrees to buy the home within a reasonable time. Both seller and buyer should obtain a lease option agreement with terms like price for future purchase, maximum time of agreement and the monthly rental. Some sellers may include a penalty fee if at the end of the term the buyer decides not to purchase the home.

5. A wrap-around mortgage is one wherein a seller offers you a second mortgage at a better interest rate. The seller will use part of the money to maintain the monthly payments of the first mortgage.

6. Another creative way of financing is through purchase of a fixer upper home. This is best if you cannot afford to buy your dream house yet but have enough funds to use on a fiver upper property or one that definitely needs repair and renovation. You can renovate and improve the appearance of the property and rent it out and use the money to save for your big purchase.

7. A joint tenancy is another option that enables you to save a large amount of money to buy a home. This is most common to married couples who opt to share the mortgage and the deed of the property.

     Never be afraid to face the risk in home buying, remember that the house of your dreams is just out there. Use the best option for you and enjoy!



Source by Sonia

Top Health Benefits of Walnuts

Walnuts trace their origins in many places, though it is common knowledge that the earliest were Persian where the health benefits of walnuts were thought to be well known. Walnuts are believed to have been cultivated as far back as 7000 B.C. in the humid regions surrounding the Caspian Sea. Today, California walnuts are some of the highest quality nuts around; in fact, almost 90 percent of the United States’ walnut production grows right in California. Currently, the U.S. ranks as second-highest walnut producer in the world, only to China.

Walnut Types: Take Your Pick

You have probably encountered at least one of three types of walnuts: the English walnut, the black walnut, and the white walnut, or the butternut. These white walnuts are more difficult to find in traditional grocery stores, but feature a sweet taste and oily texture. The English, or Persian, walnut is the most common to find in marketplaces and bears the traditional shell that can be broken with a nutcracker. Black walnuts are native to America, grown specifically in the southern U.S., and possess a rich, smoky flavor.

If you are interested in the health benefits of walnuts and how you can introduce them into your diet, you might have noticed that some recipes call for either black or English walnuts while your cupboard only has one or the other. Not to worry; structurally, both walnuts are quite similar. Recipes that call for black walnuts usually do so to take advantage of their smoky, wine flavor. However, if you merely want to add some crunch to your salad or a baking recipe, you can use either walnut without fear of disaster.

Health Benefits of Walnuts

Some people hold the notion that all nuts are the same. This is especially untrue for walnuts; these unique nuts are made up of mostly polyunsaturated fatty acids-both omega-3 and omega-6-while nearly every other nut is composed predominantly of monounsaturated fats. Moreover, walnuts are the only nut with a significant quantity of ALA, a seed oil that must be acquired through diet. Raw walnuts also have a remarkably high level of antioxidants.

Aside from being a tasty treat, walnuts are notoriously beneficial to your heart and circulatory system. Walnuts assist in lowering cholesterol, which improves blood quality, and they help decrease the risks of excessive clotting and inflammation in blood vessels. As a reliable source of omega-3, walnuts repeatedly assist in the improvement of many cardiovascular functions, even countering high blood pressure.

Studies suggest that raw walnuts can increase fat oxidation and reduce carbohydrate oxidation, leading to a healthier use of body fat in adults. In 2006, a report published by ScienceDaily stated that eating a handful of raw walnuts with meals high in saturated fat appeared to limit short-term damage to the arteries. Of course, eating walnuts will not absolve all health risks that come with eating unhealthy food, but they are a worthy addition to any diet.

Walnuts Join Pursuit Of The Cancer Cure

Along with their cardiovascular benefits, walnuts are now receiving attention from researchers with respect to their role in reducing the risks of prostate and breast cancer. In 2009, the American Association for Cancer Research was presented with a U.S. study that demonstrated decreased tumor sizes in mice that consumed the human equivalent of two ounces of walnuts per day. Although the study was conducted on mice, the walnut’s ability to reduce endothelin levels and decrease the inflammation of blood vessels will surely prove beneficial to cancer patients whose endothelin levels are higher than normal.

Selecting And Storing Your Walnuts

Picking walnuts is a fairly straightforward process. For whole walnuts, choose walnuts that feel heavier for their size, ensure that the shell is intact, without any piercing or cracks, and discard any that appear stained, as this can be a sign of molding nutmeat. Shelled walnuts are often ready to buy in packs or containers. With these, simply have a look over how fresh the walnuts appear. Steer clear of shriveled or rubbery walnuts and, if you can, take a quick sniff just to make sure your walnuts have not spoiled before you have bought them.

They are perishable but, if stored properly, the health benefits of walnuts and their nutrients will keep as long as six months to a year. The best way to maintain your walnuts’ flavor is to keep them cold. If you plan on using your walnuts within a month, you can store them in the refrigerator. For longer storage, the freezer is your best option. Walnuts are capable of absorbing flavors from other foods; so make sure to store them in airtight containers away from foods that have strong odors.

As a tip for your health and your taste buds, save chopping or shelling your walnuts until you would like to use them. Not only do they lose flavor, but the polyunsaturated fats found in walnuts oxidize quickly when exposed to heat or air. Keep your walnuts healthy and fresh from the minute you buy them by storing them properly.

Enjoying Walnuts Is a Piece Of Cake

There are more than a handful of walnut-praising recipes available, but often the easiest way to include this healthy nut into your food routine is just to throw it over your favorite dish! English walnuts and maple syrup make a delectable a topping drizzled over yoghurts. Try your favorite vegetables sauted with some chopped black walnuts for a tasty new experience. Walnuts also make a delightful addition to any traditional stuffing recipe. Here are a few helpful measures for estimating walnut weights in recipes.

  • A single walnut half = Two grams
  • One ounce of walnuts = 14 halves
  • One cup of walnuts, chopped or pieced = 120 grams
  • One cup of shelled walnuts = 100 grams, or 50 halves

Treat yourself to a banana-nut muffin for breakfast, or get creative by incorporating ground walnuts into a variety of sauces at dinnertime. Parsely-walnut sauce, walnut-lemon vinaigrette, and cranberry-walnut marmalade are just a few fantastic starts for your walnut-infused diet.

Walnut Allergies

If you suffer from tree nut allergies, it is likely to be healthier for you to stay away from walnuts. Despite their health benefits, allergic reactions to proteins found in walnuts and other tree nuts can include hives, rashes, itching, swelling, breathing difficulties, severe drops in blood pressure, as well as other life-threatening symptoms. If you are concerned about whether you are allergic to tree nuts, consult a doctor before adding walnuts to your diet.

Summary

They are called the heart healthy nut and are packed full of anti-oxidants and nutrients but the health benefits of walnuts are complementary to their delicious taste whether you prefer them in cakes, brownies or topping salads.



Source by Jeff Andrews

What does Financial Management include?

We know what is financial management. It’s a personal decision in making wise choices about our cash. Financial management involves a lot of areas. Here, I list out 5 of the most important areas that you should know.

These are the main areas you should concentrate because it is these areas that we either mismanaged our money, or it will enable money to work for us.

The following are the key areas that you should look at:

Cash flow management

This involves assessing your current net financial net worth (what you own minus what you owe). This should generally tell you whether you are on your way to financial freedom or financial disaster.

In short, most financial experts would advise you to keep a high savings and this should be your MAIN PRIORITY in financial planning.

Investment planning

Once you have decided the amount of money you would like to save, you should consider where to put your savings with the aim of getting a higher returns than your normal savings account.

Forget the 2% p.a. interests for saving. You require something more sophisticated than that! At a minimum, you should go for fixed deposits. Otherwise, a good investment program will be nice.

Insurance planning

Insurance planning is required to in ensure that all your properties are protected and that your family members are well protected by having enough insurance coverage.

Tax planning

The topic of tax planning affects everyone who receives income, yet it is an area that is mainly forgotten or forgotten by most individuals. Therefore, this area involves strategies making the most under the local tax regulation in the area of your income, stocks, real estate, and property.

Retirement planning

You are not going to toil your whole life, are you? When old age symptoms begin to kick in or you have reached the mandatory retirement age, you will want to retire. There is no choice.

Therefore, having a retirement plan regardless of of your age is essential! You wouldn’t want to be forced to go back to work due to lack of money!

Estate planning

Having an estate plan or a will shall ensure that your wishes for the future are carried out. In addition, an estate plan or a will can supply financial protection for your family, ensure your property is preserved and keep off dispute among family members.

The above are just 5 of the many other financial decisions. It is important to take note of your above 5 becasue they are mainly responsible for your financial success or failure.



Source by Joseph Then

Business Law in Ireland – The Challenges For Your Small Business

The challenge for your company or small business imposed by company law are many and the consequences are pretty severe for breaches of company law.

Penalties for breach of business law

Many of the breaches of company law, which are provided for in the Companies Acts are not just civil penalties, such as fines but many criminal penalties are provided for in the Companies acts. It is clearly vital that if you are involved in small business then a good familiarity with the relevant law is very useful.

Business law issues and problems

Some of the most common questions which occur in relation to company law and in Ireland include-

1. how to set up a company

2. how to register a business name

3. how to register a patent or trade mark

4. what is the law surrounding insolvency/liquidation?

5. how can I recover a debt?

6. how do I wind up a company?

7. what law covers domain names and doing business online?

8. what business law covers copyright and data protection?

9. what is the situation covering redundancy and unfair dismissal?

10. what about health and safety at work?

11. what law covers the use on internet by employees in the workplace?

12. what is ‘passing off’?

13. what business law cover confidential information?

14. as a landlord, do I have to register with PIAB?

15. what legal issues arise in franchising?

16. is the law applicable to an Irish franchise the law of Ireland or the (probably) international franchisor?

17. what law governs partnerships?

Conclusion

For any entrepreneur involved in small business in Ireland, including those who wish to work at home, a good working understanding of the main provisions of commercial law as it impacts on your small business is a very useful tool to have.

You do not need to fully understand the ins and outs of commercial law in Ireland; but to have a good working knowledge will provide you with a huge asset in your skills inventory. It can also save you money. For example if you have a look at the checklist on this site when you are considering buying a franchise in Ireland, you may well spot some issues that you can talk to your future franchisor about BEFORE you go to your legal professional.

If you spot an issue that for you is a deal breaker and your future franchisor will not budge on, then you may save yourself a lot of time and money by recognising that at the outset.

Business and company law is a crucial area for any would be small business owner or entrepreneur and a good understanding of how it impacts on your small business will leave you with an edge over your small business rivals.

A verbal contract isn’t worth the paper it’s written on.

Samuel Goldwyn (1882 – 1974), Goldwyn’s Law of Contracts



Source by Bruce Dillon

Macroeconomic Principles and Policy

Macroeconomic Principles and Policy:

In 2003, the Internal Revenue Service began to mail out refund checks because of a change in the tax law. Economic forecasters predicted that consumption and GDP would increase because of higher refunds on income taxes.

Pretend as if you are an economist and explain your thoughts on whether the tax cuts from the past few years have been successful in promoting economic growth or in preventing a deeper decline?

When income taxes are reduced then consumer real income will rise, the real income is that income which has been deducted taxes, when this income increases there are a number of outcomes that will result, the first is the increased demand for goods as real income increase for those goods that are normal goods.

When income taxes are reduced the consumers’ real income will or the disposable income will increase resulting to an increase in the demand for goods and services in the economy, when there is increased demand then this signals to suppliers to supply more through increased production, this increased production will result to higher GDP levels in the economy and therefore the tax cut will promote growth in the economy.

The other result of a tax cut is the increased in the investment levels, as the disposable income of the individuals in the economy increases, all the extra disposable income will not be consumed through purchase of goods and services, rather the disposable income will find its way into investment, when there is increased investment then there are prospects of high economic growth due to this tax cut, the multiplier and accelerator theory depict the result of this tax cut below:

From the above diagram and increase in income that results into an increase in investment is called the accelerator effect, on the other hand an increase in investment that results into an increase in income levels is called the multiplier effect.

When there is increased income levels then there will be the accelerator effect that leads to increased investment, increased investment also means increased economic growth and employment. When investment increases then there will be increased income due to increased employment and earnings by employees as shown, therefore an increased disposable income due to a tax cut will eventually lead to increased GDP.

Tax cut result: economic growth or in preventing a deeper decline

Therefore a tax cut will result to a growth in the economy, this is because the increase in consumer real income will result into greater demand for goods in the economy and this will result into greater investment and employment opportunities, this is the accelerator effect.

The tax cut will also promote investment in that the increase consumer disposable income will not all be consumed, individuals will invest a portion of the increased disposable income in the economy, this is because the factors that result into economic growth include capital accumulation, investment, increased resources and investment in human capital. Therefore this tax cut will not result into a deeper decline but a growth in the economy.

Are there other changes to fiscal policy that you feel would have been more successful?

When there is increased demand then this may turn inflationary, this inflation as Keynes stated will be caused by excessive demand, this type of inflation is known as demand pull inflation, therefore the best fiscal policy that will follow will be that which reduces inflation, government spending is inflationary and followed by this inflation caused by the tax cut then there is need to reduce government spending in order to reduce the inflationary pressure which would lead the economy into a recession.

The tax cut will also reduce government revenue, therefore there is need for the government to reduce spending in order not to run deficit budgets, the tax cut reduces government revenue and the government should reduce spending in order to avoid still this inflationary pressure and also deficit budgets.

References:

Brian Snow (1997) Macroeconomics: introduction to macroeconomics, Rout ledge publishers, UK

Stratton (1999) Economics: A New Introduction, McGraw Hill Publishers, UK

Philip Hardwick (2004) Introduction to Modern Economics, Pearson Press, New York



Source by Charles Kelly

The Important Aspects Of Business Finance

Business finance is one of the most important aspects of running and maintaining a business. Finances dictate the success or failure of a business. If a business owner does not properly maintain their business finances then they will soon see problems arise. Business finance is something that every business owner must deal with and understand.

Part of business finance is setting up proper cash flow. A business owner needs to clearly define their accounts receivable and accounts payable. They need to maintain a steady and balanced cash flow at all times. This means they must never let your accounts payable exceed their accounts receivable in any given month.

A business owner must also carefully manage their debt. They should never let their debt get too high or out of control. They should maintain regular payment schedules to ensure they do not fall behind on repaying any debt.

Keeping clear and concise records is extremely important to keeping business finance under control. A business owner should either hire a professional or use some type of bookkeeping computer software to maintain accounting records.

It is important for a business owner to maintain a business budget, much like they would for their household. This will help them ensure they are keeping track of all the money coming in and going out of the business. This is a good method to avoid getting too much debt.

Proper record keeping can also help out should the business owner need to get a loan. Lenders prefer to have records to refer to when making a decision on a loan, especially for a business. Businesses are seen as risky because they can easily fail. Lenders like to see proof that they business is doing well or at least a forecast that shows significant proof the business will do well. This is what good record keeping does.

Business finance is something many people do not think too much about when starting a business. This is why so many businesses fail. When a business is just starting up lenders like to see a good business plan in place, including a financial plan. This shows the business owner is really understanding all that is involved with taking a business successful.

Every business owner should have their business finances in mind at all times. Money is the biggest indicator of success in business, so it makes sense for that to be one of the top priorities of a business owner. For proper business finance a business owner should maintain records for all of the money going in and coming out of the business. They should track all debts and money owed to the business, as well. By practicing good business finance, a business owner is going to be one step closer to ensuring their business succeeds.



Source by James Copper

Harrod – Domar Model

The main aim of Domar model is to find out how steady economic growth can be achieved; or rather Domar is concerned with the maintenance of full employment while Harrod is concerned with a steady rate of economic growth. While Domar equates supply to demand, Harrod equates savings to investment and equilibrium can be explained in both ways.

In both the models “capital accumulation” plays a vital role in the process of economic growth. Capital accumulation or investment is given different captions in the writings of Domar – Capital expansion, capital formation, investment etc.

The distinctive feature is that it constitutes both the sides of investment process. The classical economists consider only the capacity side of capital accumulation, believing that supply creates its own demand.

Keynesian considers only the adequacy of demand neglecting the problem of increase in capacity through investment in the long run. The Harrod-Domar model integrates the classical and Keynesian analysis of economic growth. It is an attempt at reconciliation between the two approaches.

Domar model: Domar builds his model on the fundamental question of investment leading to an increase in productive capacity and income. Domar model tries to answer the following question:

What should be the rate of increase in investment which would equalise the increase in income and the increase in productive capacity, so that full employment is maintained?

Domar’s model is based on the following assumptions:

  • An initial full employment level of income has already been achieved;
  • There is no governmental intervention;
  • There are no lags in adjustment and the model operates in a closed economy;
  • The average propensity to save is equal to the marginal propensity to save;
  • The marginal propensity to save remains constant;
  • The ratio of capital stock to income, i.e. capital coefficient remains constant and
  • Income, investment and savings are all used in the net sense, i.e. gross minus depreciation. The model is in the form of an equation.

Domar starts his model from Keynes’s recognition of the fact that savings should be equal to investment. While Keynes treats employment as a function of income, Domar assumes that “the percentage of labour force employed is a function of the ratio between national income and productive capacity”

What is productive capacity?

According to Domar, it is the total output of the economy at what is usually called full employment, with due allowance for frictional and seasonal unemployment.

The essence of Domar’s approach lies in the recognition of the dual character of capital invested:

1)            It increases the productive capacity of the economy; and

2)             It generates additional income.

Domar’s model attempts to answer the following questions:

If investment increases the “productive capacity” and also “the income” of an economy, what should be the magnitude of investment? Or

“At what rate investment should grow in order to make the increase in income equal to that of productive capacity ?”



Source by Benny

The Purpose of Business Valuations

If you are the owner of a business and you think it’s about time you retired or simply if you want to sell your business for personal or professional reasons, you are definitely going to need a business valuation and a good accountant. Selling a business, be it a small or a large one, is a big step and it should be done with the assistance of professionals.

For those of you who are not familiar with the terms, Business valuations represent the process by means of which we determine how much a business is worth. Usually, valuation is used to estimate the selling price of the business and to resolve business or legal disputes. Although this sounds quite simple, if you want concise, clear and fair Business valuations we suggest resorting to experts in this field since they know their business.

The most frequent issue when it comes to Business valuations is setting a value on all the assets of the business, including the intangibles such as good will, the trade mark, the client list, etc. For a fair and exact valuation of your business you will need to resort to the services of an appraiser, but be careful because there are several types of appraisers and you must choose the one you need.

A professional business appraiser will tell you that there are several types of Business valuations methods and that these methods will help you determine a fair price of the business that is to be sold. If you are selling your business we don’t recommend doing the valuation by yourself since you won’t be able to give a fair price and to make an honest estimation. The business valuator will determine the value of your business by means of the asset-based approach, earning value approach and market value approach.

The first approach that was mentioned above helps the business valuator to determine the net cash the owner would receive if all his assets were sold and his liabilities paid. By means of the earning value approach, the appraiser determines an expected level of cash flow for the company, basing his estimation on the company’s record of earnings. Finally, the market value approach establishes the value of your business by comparing your business with other similar ones that have already been sold.

Another aspect that should be dealt with the proper importance when selling your business is Accounting. If you have decided to sell your business, you need to know that your Accounting will be verified by the possible buyers and that it is in your best interest to offer them accurate reports. If you are having a hard time keeping track of your expenses and gains, it is better to hire an accountant. Thus, he will be the one doing the Accounting and making sure that everything is in order.

It is essential to budget your business in order to attain your goals. An efficient Accounting record will help you plan, control and evaluate your business. Book keeping is not easy if you don’t have experience in the domain and the right thing to do is hire a professional accountant who will keep the record of your expenses. When you sell your business, the future owner will certainly want to see your book records and you might lose buyers if they aren’t in order.



Source by Clint Jhonson

Good News: RV Financing No Credit Check

For all those people wanting to buy the luxurious Recreational Vehicle (RV) but have a bad credit history or a background of bankruptcy, there is good news. Several number of lenders like banks, credit unions and private lenders are to provide RV financing no credit check.

People who have declared themselves bankrupt over the years sue to their inability to pay up debts, shy away from the prospect of applying for a RV loan for the fear of holding a bad debt history. There is an answer to all those needs in the form of many RV no credit check financing institutes.

Of course, there are certain limitations and determining factors before these loans are extended. The risk of providing RV loans to a credit defaulter is higher for the lending institution, therefore it is better to be prepared for a strict set of terms and conditions . For instance, the rate of interest charged is likely to higher in comparison to other cases, approximately 1-3% more than the normal interest rates.

However on the brighter side, this can serve as a good opportunity to re establish your credit reputation in the market. To begin with, a sizeable down payment can revoke your credibility. If all the payments are met on time, your credit score improves your future prospects. In order to make this possible you should be very careful in selecting the loans which are manageable with easier pay back options.

Sometimes timely installment payments prove to go down so well with the credit companies that they end up financing your RV directly. Good RV loan options do not usually induce penalty on paying off the amount before time but a thorough check is required to rule this out.

Beware of the lenders who initially advertise lower rates but inflate the rates during the final loan processing. There are also some lenders who pitch for a high value collateral as a result of overlooking your bad credit history. In such cases you must seriously check the kind of guarantee that is being demanded for extending the RV loan.

There is no scarcity of lenders and institutions willing to finance RV Loans with no credit check. If you take your precautions right and make your timely payments, not only can you be the proud owner of an RV but also improve your credit reliability.



Source by Devin Dozier

How To Apply For A Bank Loan

Many small businesses will visit banks hoping to receive a loan to get their business off the ground and of those only a few will walk out with a check. Most financial institutions are over cautious when it comes to lending money to new businesses due to the historically high failure rate of new businesses.

Its no real secret that in order to get a business loan from most banks, you have to be able to show that you really do not need their loan. While bank may be interested in financing businesses, their main concern is the ability to repay the money and insuring the business owner has sufficient collateral and liquid assets to help meet expenses during downturns in the business.

While they may be reluctant to hand money out for a new business there are some thing a business can do to promote a favorable decision and walking into the loan officers office on your knees with your hands folded in a pleading position is not one of them. You must walk into the office with air of confidence, not to be confused with arrogance and dress professionally looking like a potential business owner and a person of integrity who is capable of accepting responsibility for their actions.

Check your credit report before applying for a loan and work to clear out any negative items it may contain. This can take some time so starting on it early can have it cleaned up to more accurately represent your credit worthiness at the time the application is submitted. There are different types of business loans available, some for equipment and some for operating capital and they all have different criteria, which must be met. Make sure you are applying for the right type of business loan. You may qualify to borrow money for new equipment or upgrades but not qualify for an operations expense loan.

Regardless of the type of loan you apply for, be prepared to offer specific reasons why the money is needed. It will not be enough to state the money will be used for business expenses. You will have to break it down into specific amounts for specific purposes. Many bank will not ask for the use of each and every penny of the loan but generalizations about the use of the cash will not be looked upon favorably.

Even with these three issues being addressed there are other factors that will play into the banks decision such as the type of business you are starting and your experience in running that type of business. For example, if you managed a video store for several years and want to open a restaurant, the business aspect of running the store will be a plus but having little or no experience in food service willl be a negative on your application.



Source by Obinna Heche