Selling Your Settlement

The sale of a settlement can take place in cases of structured settlements. Such settlements are arrangements for periodic payment of a plaintiff's claims made by financial or insurance entities. This facility of graded payments was first made available in the United States and Canada in the 70's, and it has its benefits.A plaintiff who has been awarded a structured settlement, but requires a large sum of money immediately, can sell the settlement to a financial institution that provides such services.



There are many circumstances that may lead the recipient of a structured settlement to sell it for a lump sum. For instance, there may be insupportable medical or legal bills to pay. Or the recipient may need to make a purchase requiring substantial funds (such as a new house or other kinds of real estate). Selling a pre-existing structured settlement is a convenient recourse in cases when a person is not eligible for housing loans or further mortgages.

If a recipient of a structured settlement is too old to derive maximum benefits from periodic handouts, a one-time payment is possible.



In other cases, the recipient of a structured settlement may wish to make a potentially lucrative stock market investment. If there is a chance that the returns on the investment will considerably exceed the total value of the structured settlement, its sale to a willing buyer makes a lot of financial sense.

On the downside, the payment received in exchange for a structured settlement will always be less than the total value. Also, selling a structured settlement for a lump sum is not advisable for people who have a history of inefficient financial management.



This is especially true for people given to gambling or other vices. And, it is most certainly contraindicated in cases where the recipient's only means of livelihood are the monthly payments generated by a structured settlement.

Settlement Loans provides detailed information on Settlement Loans, Lawsuit Cash Advance Loans, Lawsuit Settlement Loans, Pre-Settlement Loans and more. Settlement Loans is affiliated with Lawsuit Loan Companies.

For Sale By Owner Marketing Generates Mortgage Leads

One of the best ways to generate mortgage leads is through working with home sellers
who are going it alone as For Sale By Owner or FSBO.



The key to FSBO marketing is creating partnerships with home sellers. Since almost
every buyer needs a mortgage, you provide a necessary service that will enable
a seller's home to be sold. Real estate agents traditionally refer buyers to loan
officers during the home-selling process, but with FSBOs, there is no agent.



That
means the seller assumes the role of referring buyers to loan officers and that's
where you come in.



Most sellers are not very familiar with the process of selling real estate and won't know that they should require interested buyers to be pre-qualified prior to accepting an offer. Helping sellers understand that you can save them oodles of time by pre-qualifying their potential buyers is a literal gold mine. You could also prepare a flyer on a variety of loan types and payments for a mortgage on that seller's home.



FSBOs want to sell their home and, therefore, they will give your business card to everyone that comes through. That means fresh mortgage leads for you, whether for this property or another one.



The most effective way to secure relationships with for-sale-by-owner sellers
is to offer more than pre-qualification services. FSBOs need marketing help like
a free ad on a for-sale-by-owner website and promotion to buyer lists. They also
need sample contracts and disclosures, industry contacts like title companies
and appraisers, yard signs, and even home flyers.



These items can be bundled together
into a "for-sale-by-owner kit," which can be offered to sellers in exchange
for the opportunity to pre-qualify all buyers showing interest in the home.



You can use a variety of sources to locate FSBOs in your area, including:


Local Newspapers

Yard Signs

Paid service that scours websites and newspapers every day

Some of the popular methods of contacting FSBO sellers are:


Phone

Direct Mail

Door Hangers

Web Links

Most FSBO sellers will be very enthusiastic about the services you can offer them and will gladly refer buyers to you.



Additionally, the sellers themselves will most likely need a loan to purchase their next home, and, having established a professional relationship of trust with them, you put yourself in a great position to provide that loan. That's another mortgage lead.

The author is involved in several online real estate businesses, including http://www.fsbo3k.com, one of the leading FSBO websites in the United States, and a resource for mortgage brokers looking for http://www.



mywholesalelenders.com wholesale lenders.

Finding A Reputable Mortgage Broker

So, you're searching for a mortgage broker, but you aren't really sure where to start. Well, there are several different places that you can look to find a mortgage broker - the phone book, online, and through friends and family are all great places to look. But, how do you really know that they are a reputable mortgage broker or not? Here are some tips to help you weed out the good from the bad:



1. Compile a list. Gather up all the information on mortgage brokers that you have gotten so far, from friends and family, the phone book, or online, and place it all on a list.



Make sure that you have the full name of the company, their phone number, and either their address or web address.



2. Do some homework. Now that you have your list, you need to go through each mortgage broker and search out all the information on them that you can find through the Better Business Bureau and the Attorney General's office. You can do this either online or by phone. While you are looking through their information, here are some things that you need to look for: Has the company ever been involved in legal problems with the state or federal government? Are they a licensed mortgage broker in the United States, or are they overseas? How many complaints have been filed against the mortgage broker? If the company has several complaints or lawsuits filed against them either by the government or individuals, this should be a red flag and you should consider crossing them off your list.



If the company is not a licensed mortgage broker, this is a huge red flag and you should drop them off your list immediately. If you come across any other issues that just don't set right with you, take that company off your list as well. You should feel completely safe with the company having your personal information and your money.



3. After you have narrowed your list down by doing a little background on each mortgage broker, you should have a few who are at the top of your list.



Call these few and interview each one by asking some of these questions: How long have they been in business? What are their fees on mortgages and refinancing? What types of rates do they offer? And any other questions that you might need to know that pertain to your situation.



By finding out all the information that you can about the company before you sign with them, will help to ensure that you are choosing a reputable mortgage broker to handle your next mortgage.

Home Mortgage Refinancing - What are the Reasons You Need to Consider

More and more homeowners around the country have decided to refinance their home to consolidate debts, for making home improvements or to pay off their mortgage faster.





If you are considering home mortgage refinancing, it is a good idea to first understand what is actually involved in refinancing your home. Home mortgage refinancing involves obtaining a secured loan in order to pay off an existing loan. In most cases, the loan will have been secured by either property or some other type of assets.



The most common reason for refinancing a home mortgage is to take advantage of a lower interest rate. This is especially true in the event you have had an adjustable rate mortgage or you financed your home some years ago.





Even if it does not seem that interest rates have gone down that much since you first financed your home, you may be surprised to learn how much difference even a small amount of interest reduction can make in your payments. In addition, changing circumstances may allow you to now qualify for a lower interest rate that was not possible when you financed the home.



This is because interest rates are not only based on the prevailing interest rate at the time you finance the home but on other factors as well including your down payment amount and your credit rating. If your credit rating has improved since you first purchased your home, you may be in a very good position to now qualify for a lower interest rate with a home mortgage refinancing.





Another common reason for home mortgage refinancing is to actually reduce the length of your mortgage loan.



For example, if you originally had a 30 year fixed rate loan you might wish to consider refinancing to a 10 or 15 year loan. This type of mortgage refinance allows you to pay off your mortgage sooner and over the duration of the loan save far more money in interest payments. In many cases, you may also be able to take advantage of receiving extra cash from your refinance while lowering your monthly mortgage payments if rates are lower. Of course, another option would be to keep your payment the same and pay off the loan even faster while also enhancing the equity.



You might also consider refinancing your home in order to pay off higher interest credit card bills. Typically, the interest rate you will be able to obtain on a home mortgage refinance loan will be lower than what you pay on your credit cards. There is also the convenience factor of being able to only pay a single loan payment every month versus multiple credit card payments. You should understand that with this type of loan, your home will serve as security for the loan until it is paid off.



Regardless of which type of home mortgage refinancing you ultimately decide is best for you, it is important to remember that you may also be able to take advantage of important tax advantages as well. Consult your tax advisor to find out whether you can deduct the interest on your home equity loan. You may be surprised to discover that it is completely tax deductible; something that can not be said for credit card interest.