Free Credit Reports Online – See What the Lender Sees by Viewing Your Online Credit Reports

Getting free credit reports online, while it sounds too good to be true, it’s actually a reality. If you have never viewed your online credit reports, you are really doing yourself a disservice. Identity theft is on the rise and it is estimated that someone’s identity is stolen every 3 seconds worldwide. Think about that. You could have had your identity stolen a couple months ago and still have no idea without getting free credit reports online at least on an annual basis. There’s really no excuse not to see as how important it is and it’s free.

When you get your online credit reports it will have the status of all your loans and unpaid bills up to date so you can see how much debt you actually have. Old unpaid bills that got turned over to collections will be on there as well. These are things that many people forget about until they view free credit reports online. You will also be able to see if your credit rating is being adversely affected by items on your credit report that are a mistake. Mistakes on your credit report, while unsetting as it may sound, happens very frequently.

The free credit reports online companies make their money by trying to get you to enroll in their credit repair service that will actively monitor your credit and alert you when suspicious activity is noticed. This service runs about $15 a month and can be very valuable to some consumers who would like to guard themselves against identity theft. They will give you a 7 day free trial of this credit repair service but as long as you cancel before the 7th day you will not be charged. If you just want to get free credit reports online then just cancel before the 7 day free trial. However if you would like to protect your self against identity theft and also take advantage of some of the other benefits of their credit repair services, then $15 a month seems like a pretty reasonable price.

Adverse Credit Mortgage – Know Your Stuff, Part 2

In the previous article ‘Bad Credit Mortgage – Know Your Stuff’ Part 1, we looked at what a bad credit mortgage is and briefly looked at the differences between a ‘normal mortgage’ and a ‘bad credit mortgage’, in this article we are going to look at what could cause someone to have bad credit.

There are a plenty of reasons why adverse credit comes about and why someone with adverse credit would want to mortgage, and there are a huge number of lenders wanting to lend and specialist brokers able to offer excellent advice with their client’s best interest at heart, any broker who has spent more than a few years in the sub prime market will be familiar with the examples below of how bad credit comes about.

In no particular order:

  • Forced redundancy or drop in salary I come across this more than I would like to, through no fault of the borrower their income has been reduced, less money coming in means less money to service bills which can result in payments being missed, thankfully a lot of the people I speak to who have experienced this have managed to increase their income, but the damage to their credit has already been done.
  • Death or major illness in the family This is not as common but we have come across it, understandably everything else takes a back seat including paying the bills.
  • Separation or divorce Obvious to see why this would have a major impact on finances resulting in credit problems, especially if there are joint bank accounts, joint loans etc.
  • Self employment Being self employed can seem like a dream come true for many, the reality is that most people underestimate the work involved and the time it takes to generate sustainable income streams, the early months or years can often see peoples credit suffering whilst a new business is getting off the ground.
  • People simply take on too much debt Whilst this is a legitimate reason, I have found that most people were able to service the debts when they took them out, but something happened, hence they took on too much (in hindsight they probably wouldn’t have). There are obviously people who just keep stacking up debt after debt after debt and to hell with the consequences until they get to the point that they can no longer service the repayments and, whilst I understand the reasoning behind the sayings ‘they just kept approving my loans and credit cards’ or ‘the lender pushed it on me’, I would suggest that common sense be brought into the equation, I am all for a sympathetic ear but sorry folks, we have to draw the line somewhere.
  • You may be classed as a ‘non-standard credit risk’ According to Datamonitor, the independent market analyst, at least one in five adults in the UK are said to be non-standard. They may include the self-employed, unable to provide sufficient proof of income or people who have an outstanding county court judgment (CCJ) against them or have had their homes repossessed for non-payment of mortgage or some other form of bad credit.

From my experience the above would cover the main reasons someone may have credit problems. Looking at it deeper, such as the individual types of bad credit (defaults, CCJ’s etc) would take away from what we are trying to do here; whilst one or two of the situations may be familiar to you its blatantly obvious that no one article can cover all occurrences, however you may benefit from reading the article to follow which focuses on how your credit problems may be viewed by the lender and how the ‘credit crunch’ has generally effected the adverse credit mortgage products throughout the UK, we will briefly be covering the different types of impaired credit and how they may restrict any borrowing for mortgage purposes.

How to Get the Best Rates on Homeowner’s Insurance in Ohio

People who live in Ohio know that they are part of what is considered to be tornado alley. With over fifteen tornadoes a year on average, people in this state understand the importance of having a good homeowner’s insurance policy in place.

Finding the best rates on homeowner’s insurance in Ohio isn’t difficult as long as you know what to look for when shopping for a policy. First and foremost you should know the value of your property as well as the estimated worth of your possessions. You don’t want to pay extra to insure more than you have, so buy enough coverage so that you could replace what you do own if it should be lost in a fire or if you are the victim of a home robbery.

Ask about any discounts you may be eligible for if you buy more than one type of insurance policy from one company. More and more insurance companies are now offering several types of coverage including home, life, health and car. You may qualify for a multi-policy discount by choosing just one company for all your insurance needs. Some companies are offering a percentage deduction on every policy an individual purchases from them. It’s easy to see how quickly that can add up to a substantial savings.

Another way to save money on home insurance is to ensure that your policy doesn’t provide coverage for your land. Land doesn’t need insurance, yet many insurance companies that provide property protection automatically include it in the policy cost.

Not having any smokers in the home has both health benefits as well as insurance benefits. Some insurers will offer a rate reduction if everyone who lives on the property is a non-smoker. This is because they view it as less risky in terms of a house fire. Mention this fact to any agents you contact in pursuit of a homeowner’s insurance quote.