Selling and Renting Back Your Property - Is It a Good Option
Posted by admin in PropertyFeb 20th, 2009 | Comments Off
Most companies that offer sell and rent back properties are trying to make a fast buck. If you are in debt and are think selling and renting back may be the best option open to you, then think again; you are likely to get ripped off by the company that is offering the deal. You may loose
20% or more in this deal. The buy and rent back company will offer to get a surveyor and pay the surveyor costs and all other legal costs. They are then going to offer a much lower price then you would get on the market. They promise total secrecy and that the deal can be done in less then a week. They will buy your property at less than the market price and rent it back at the market rate. So either way, you are going to loose. When and if they sell the property back to you, it’s going to be at market value. So once again you loose. Also they may evict you after 6 months or a year. So, if you have to sell your house and shift to a cheaper place., then just do that and avoid sell and rent back deals.
Managing Credit Card Debts
Posted by admin in Credit Card DebtFeb 11th, 2009 | Comments OffThere are two ways of paying off credit card debts. The first plan is to work out which credit cards are charging the highest interest rate and pay them off. Now you may encounter a problem doing this.
The reason is that if you pay it off in full, the others will remain unpaid and will start accumulating. The second approach is to pay off the smaller ones first. Now use the money you have accumulated (because you paid off the smaller credit card debts) to pay off the bigger debts. If the credit card debts are about equal on all the cards then pay off the credits with the highest charges first. Penalties for defaulting on payments differ between different credit card companies and so do check the interest rates. I personally think that paying off the ones that are charging the most first is the best way of managing credit card debts. I would not advice using one credit card to pay another. Don’t just keep paying the minimum amount due as your debts are going to keep on accumulating. Once you have paid off a credit card, don’t use it. If you follow either of these ways to pay off your credit card debts you can avoid further debts.
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