Finandom dot Com

Do you believe or not :

Speak not to describe your current condition - but to predict your ultimate position

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Source : Richdad.com

Uncategorized Golden Rules

Time really past so fast, Carnival of Personal Finance is celebrating the first anniversary! That’s mean Carnival of Personal Finance already run for 1 year! So this week, the carnival of personal finance will be a little bit special, Birthday Edition. Please spend some time to read this special edition of Carnival of Personal Finance, you are going to learn a lot from it since all the bloggers will submit 2 articles for this carnival.

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In addiction, Carnival of Investing also up at AllFinancialMatters and Carnival of Debt Reduction will be held in my blog, Journey To Financial Freedom. Hope we all have a great week!

Uncategorized Carnival

According to Deborah Fowles from About.com, lenders have created a whole new generation of mortgage to handle the rapidly rising home prices that can be reached by many people. If you an investor in real estate or planning to be an investor in future just like me, then I think her article “Today’s Risk Mortgages: Are they for you?” is a must reading for you. It will let you roughly know what happen in the market and what kind of mortgage appear and option that you might have.

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1. Option-Payment Mortgage

- riskiest mortgage

- you can choose what to pay every month : principal + interest, interest or a minimum payment.

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Danger : You debt might get bigger.

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2. Interest only Mortgage

- second riskiest mortgage

- you only pay interest for 3 to 10 years

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Danger : You might be not able to afford those payments after the only-interest period.

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3. Low-Doc Mortgage

- as risky as interest only mortgage.

- You can get the loan without any qualification proves.

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Danger : You might get a mortgage that you can’t afford

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4. Piggy-Back Mortgage

- less risky

- The piggy back loan involves taking out two mortgages: a home-equity loan or line of credit for 20% of the home’s value, which you use as a downpayment to avoid having to pay private mortgage insurance, and a primary mortgage for 80% of the home’s value.

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Danger : The risk you might forced to sell your house less than what you owe.

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5. 40-years fixed Mortgage

- the least risky mortgage

- Fixed-rate mortgage that you pay it off over 40 years.

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Danger : You might end up paying a lot more for the hose and it will take a very long time to build any equity.

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Source : About.com

Announcement, How to Manage Money

Welcome to my blog, Journey To Financial Freedom. Below is the submission of this week Carnival of Debt Reduction. I hope all of us can learn a lot from all the great articles listed in this carnival of Debt Reduction. For your information, next week Blueprint for Financial Prosperity will host the next Carnival of Debt Reduction.

Have Fun!

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Multiple Mentality - Not So Rewarding

Submitter : Josh Cohen

Quotes : Just how much have you gotten out of your “rewards” card lately?

Free Money Finance - How to Get Out of Debt

Submitter : FMF

Quotes : 11 simple steps for getting out of debt

We’re in Debt - Life Lesson

Submitter : King of Debt

Quotes : A true life lesson from King of Debt

The MotherLoad - Chealp High Speed Internet & Other Tall Tales

Submitter : Amy Allen Clark

Quotes : This blog entry highlights the ins & outs of dealing with AT&T (formerly SBC Yahoo) when it comes to getting the cheapest internet possible.

Debt Free - The AMT - If You’re not scared, you damn Well should be!

Submitter : Steve Faber

Financial Reflections - Student Loan Consolidation Deadline Approaching

Submitter : Financial Reflections

Quotes : Interest rates for student loans will go up on July 1^st. Now is the time to see if you qualify to lock in at a lower rate

Mighty Bargain Hunter - Never, ever see your loan pay off

Submitter : Mighty Bargain Hunter

Ask Uncle Bill - Fifteen Ways to Leave Your…Money

Submitter : Bill

Quotes : Sometimes personal finance articles are pretty stupid

How to make a Million Dollars - 9 ways to save money Today

Submitter : G.

Quotes : A quick list of nice quick ways you can save money Today

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Money@Families.com - Using 0% Balance Offers to Pay Down Debt

Submitter : Julie Mayfield

Announcement Carnival

Do you believe or not :

Circumstances Don’t keep you from achieving your dreams - you keep yourself from your dremas

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Source : Richdad.com

Uncategorized Golden Rules