Stock Market Crashes

Share or Stock market is a place where people share trades. Share or Stock is the very small amount of company’s capital. The share’s value depends on the number of people who want to buy or sell it. If number of buyers is more, value of share will rise. The value of share will diminish, if number of seller is more than the number of buyers. Only Public Limited Companies trade their share in the share market. A broker or bank helps you for trading share on a share market and they will charge for this.

Share market helps you to make money in the hot penny stocks but it also having risks. Trading in stock market is same as gambling; first moment you earn and in the next you have nothing. It is like a roller coaster, sometime go high and sometime down. Share market crash is one of the risks, it causes because of sudden and dramatic decline in the stock value of a particular section of the share market and it leads to the great depression. A lot of factor is responsible for this including domestic and international conditions. Some major Share market crashes are listed here.

Wall Street Crash of 1929 (Black Tuesday)

It is also known as Black Tuesday and is the most remarkable crash in the history of the United State of America. It lasted only for 4 days but it provided the 10 years long depression for United State. Unemployment rose by 25 percent, growth of economy fell by 50 percent. Dow Jones marked at 41.22 from 381.2 and took 25 years to reach its higher level. There were many causes behind the Black Tuesday of 1929. Overvalued stock is one of the foremost reasons, according to analyst the shares were very much priced and price – earnings ratios were quite high. Banking structure and Federal policies were also responsible.

Stock Market Crash of 1987 (Black Monday)

It is also known as Black Monday and it is the one of the largest one day decline in world’s share market history. The Dow Jones declined by $500 billion value or 22.7 percent. It began in Hong Kong, then speeded to Europe and after that it affected United State of America. Analyst thinks program trading is one of the major causes of the crash. It is a computer program assisted method to trade markets that is used to automate the trading. This trading system uses price of particular stock as a checkpoint to buy or sell it automatically, so there are two parts of program trading, one is automate sell programme and other is the automate buy programme and this automate sell programme worked overtime on October 1987 which leads to the market crash.

Share Market Crash of 2008-09

There are many reasons behind the stock crisis in 2008-2009.It didn’t occur in one day. No one can forget this great commotion in their life time. On 29th September 2008 when the stock exchange closes for that day there was $1.2 trillion disappearing from the market which resulted as temporary closing of stock markets. The main reason was the subprime loans. These subprime loans are easily accessible for home loans to help every person of America to get own home. But this was the high risk for the stock crisis of 2008-2009. Another cause is that the excessive real asset market went its highest point. The excessive market was financed with debt and its reduction of accelerated ruin of equity and capital started. Lehman Brothers, a 158 year old global financial services firm’s stock price reduced from $33.83 to $0.21 which repeated with every stock market and declared bankruptcy for this stock market crisis of 2008-2009.

General tips on how to become a stock broker

The world of the stock market and investments is attractive and it attracts a lot of young people, who wish to try their luck in the stock market. In the past, a person who knew how to make money for himself or for his clients could become a stock broker. However, with the changing times, the competition in this field of work has increased dramatically and it is now very important to have some formal college education, before you can apply to become a stock broker.

Stock broker: A wanted man

The life of a stock broker has become quite tough in the last few years, due to the increase in competition in this trade and also due to people becoming more and more conscious and concerned about their investments. The only way to become a qualified and known stock broker is to ensure that you’re good, both on the working front and the educational front. Having a good degree related to the field and sporting a good track record of delivering the top penny stocks to watch are very essential, if you want to become a celebrated stock broker.

How to become a stock broker?

The basic necessity of a stock broker is the knowledge about markets and this knowledge comes with experience. Here are some nice tips on how to become a stock broker, which will help you enter the competitive and highly lucrative job of a stock market analyst or a broker:

  1. Get your undergraduate degree in some related field like business management and finance.
  2. Although this is not actually necessary, but you can go for an MBA after your graduation in order to stand tall from the crowd.
  3. Learn about money management, investments and market trends and do some on the job training with a brokerage firm for about a year or two in order to gain some work experience.
  4. Maintain a portfolio of your investments and the returns you got on those investments and make sure that your portfolio and resume are strong enough to attract potential clients.
  5. Pass the state enforced licensing tests (these tests vary from region to region and country to country).
  6. Maintain constant education in order to ensure that you can keep your license.

These are some of the most important and useful tips, that are sure to help you in getting a proper license of a stock broker. After you get your license, you would be entitled to sell and buy securities and investments. Moreover, maintaining the license is even tougher than gaining one and it must always be noted that a stock broker needs to maintain his educational level up to the current standards and have the latest information regarding the market in order to maintain his or her license.

Summary: Thus, if you have an interest in becoming a master of trading system, then it is advised that you start early and gain the necessary degrees and education in order to beat the growing competition. Follow the above mentioned tips and make your dream of becoming a stock broker come true.

High Profile Jobs of Wall Street

Wall Street is very important because it is the home of the world’s strongest and largest stock exchange and plays a role of the world’s financial capital. It is located at the downtown Manhattan, New York city which is one of the costliest places of the world and known as the financial district. It is one of the largest merit-based industries. If you want to earn handsome six to seven figure salary then Wall Street jobs is the best option.

Some of the high paying Wall Street jobs are listed below:


Stock broker are experts at calling the best stock alerts and basically a sales person who sells stocks, mutual funds. To be Stockbroker a four year degree is required that will take you to the most precious Wall Street but you have to be that much strong and ambitious to shine yourself as a new star among all brokers to make a wide network of your clients and assure them and make your client list as large as possible to earn an amount as large as $500,000.

Chief Risk Officer

If you are an MBA and live life very easily with unwanted risk and can manage the whole situation by your experienced mind then there is certainly a great job awaiting for you in Wall Street named as Chief Risk Officer who can earn a lofty sum of $90,000.As the stock crisis, financial crisis occurring everywhere. So the job of CRO is to maintain a balance and take initiatives.

Mutual Fund Manager

If you want to be the best at your job then there is nothing other than Mutual Fund Manager who can earn a sum up to $1 million per year by managing mutual funds. But one serious mistake can take to the lowest point so be cautious before taking any kind of decision and prepare for every kind of worst situations. At entry level join with Mutual Fund Management team and after experiencing with decade of knowledge you can go to the highest point as Mutual Fund Manager, so stick to the team and earn money as well as experience to deal every unexpected situation.

Finance Media Superstar

If you want to taste the Wall Street charm then Wall Street gives you the opportunity to be appointed as Finance Media Superstar. It requires a journalism degree with a job in behind the camera for couple of years to assimilate the every aspect of this job but after that you have to come in front of camera to capture shows. Public takes interest in your private life and that gives you recognition and attention to earn money though it is a bad year for market. You can earn as much as $5 million.

Head of Invest Banking Firm

The Head of Investment Banking Firm is the most precious job that Wall Street can offer. To be in that position you required to be passed MBA from a high profile business school with $75,000 at first but after gathering accounting experience and spreading your network you can earn  a couple of million dollar. But for that you have to be competitive and excel in your job.

Gain an upper edge through high interest savings account

high interest savings accountEarning a steady income these days has become very important. However, more important is the management of the steady income. Financial experts recommend that one should review the banking strategy at regular intervals. The review helps the person capture the best and highest interest rates. It also gives an idea about the different services that one can take benefit of. There are a number of tools that help people monitor various interest rates offered by financial institutions like banks, savings banks, credit unions, loan associations, etc. in any country.

Such tools even display the institutions that offer highest interest rate. People should keep a tap on the weekly update of the rates offered by the financial institutions. This helps people find the best rates of the high-yield savings account on the internet itself. One can even change the criteria for the search to hunt for excellent rates for a certain type of account that the person is interest in. The interest rates also depend on the amount that will be deposited.

With the advent of the internet, one can find the best savings account without even visiting or calling different financial institutions. In addition, the internet offers the convenience of opening a savings account too. An online account is very helpful in the financial life of the new generation.

When one desires to set up the emergency fund or even a savings account for the purpose of short-term liquidity, the online account offers high interest rate as opposed to a number of banks. The popularity of online savings bank account has increased in recent times. They are very convenient and can be operated at any time and at any place. The economy is passing through not so good phase these days. Hence, the interest rates offered by financial institutions are very low.

However, when the economy recovers, the interest rates will increase and ultimately benefit the people. Savings account that is opened online helps in managing the funds and deposit in a convenient manner.

Most of the times people do not know where to save the surplus money. They end up investing in places that do not yield good interest and hence, harm the extra earnings. One should keep a check on different online savings account and find the one that best suits their requirements. One should not only compare the interest rates offered by financial institutions, but also check the time period and amount of investment. The other two influence the interest rates offered by banks considerably.

The benefit of opening an online savings account is not only convenient but beneficial as well. it not only offers high interest but saves the transportation cost, which ends up as a type of savings. For those who think that online savings accounts are not safe should conduct a research. It will reveal that online accounts are as safe as brick and mortar ones. Further, one should invest because money not invested will not yield any results. Experts recommend choosing high-yield account as they offer good returns over a period of time.

Tips for choosing best stock picking newsletter

stock picking newsletterMaking an investment in stock market is a deal with risk. Investing in right companies at right time is important to earn higher returns over investment. Stock picking newsletters are one of the best sources to get guidance about stock picking for investment at right time.

Making money in stock market is not easy as easy as it seems. As stock market keeps fluctuating constantly, only an expert is able to understand and predict right patterns of investment in market. Stock picking Newsletters are one of the best sources where you can find advices from different market experts that will help you in making right investment choice. Choosing the best stock picking newsletter is important to get maximum benefits from it. Below are some tips that can help:

Check on prior results:

Results are the area of most importance. Before picking up any newsletter, you must see how accurate results they have produced based on the predictions they have made. Accurate results means you can rely on that newsletter stock picking tips. It also means that if results are as they predict you will be making lots of profit from your stocks. There are many stock picking newsletter providers out there. Therefore you can research and choose the best option.

Check if they invest on stocks which they predict for you:

If a penny stock newsletter is providing the hot penny stocks to watch then the service provider should have no problem in investing its personal money as well in the predicted stocks. Some of the stock picking newsletter owners does invest their own money in stocks they predict for others. It is a good sign to establish trust. Moreover it shows that people can trust on such newsletters and invest their hard earned money as well in hope for profit.

Check reviews:

Stock market investors who currently rely on such newsletters are a great source to check on reviews about the different newsletters. Current market traders can provide you with detailed review about a particular newsletter service. They can provide with essential information such as in what field stocks, predictions of newsletter are most accurate. Also they can warn you about stocks of certain field in which you must not rely on these newsletters. Wall Street Gone Wild has an excellent reputation when it comes to providing members the best penny stocks to watch.

Back test results:

Before finalizing any of the newsletters for long terms subscription you must back test the results. Invest a little fortune on stocks predicted for you by the stock picking newsletters. Check if your stocks are able to provide promised returns after making an investment for certain time. Checking it for few days and with different field stocks will help you trust and rely on opinions provided by the newsletter. It will also work well for back testing the results.

Top newsletters in current market:

Stock picking newsletter named Jason Bond picks is currently running best in market with most accurate stock predictions. Microcap millionaires and active trading partners are the two ranked second in the best stock picking newsletters. Gold and oil guy and options trading signals are also best stock picking newsletters for commodity market.

Where should I go to learn about the stock market?

how to learn the stock marketIf you’re thinking of investing in the stock market, then the first thing you need to do is to learn about the stock market and the ways in which market behaves and how to tackle these behaviors in order to get high returns on your investments.

Where should I go to learn about the stock market?

This is the question that every beginner has. In order to learn about the stock market, you can consider the internet, as it has a lot of valuable information stored in it. However, the internet can be confusing as a beginner does not have much knowledge about the various terms and this can make him confused with certain terms and definitions.

Other sources which can be referred to for learning about the stock market are online courses and books which can be read. People can refer to many books written by some of the top investors in the world, in which they have explained the working of the market in the best possible way. There are certain online courses too, which help the people in learning the trick of the trade and make them familiar with the certain terminologies of the stock market. These courses can help a beginner in making his initial investment decisions and also help him to earn a little with his investments.

Learn with experience:

Even though bookish knowledge and online courses can help you understand the various terms and conditions of the market and also give you an idea about the market behaviors, there is no such thing as first hand experience. After gaining the basic knowledge about the market, a person should initiate a small investment in order to put his theoretical skills into use. Real time trading can help a person in mapping his potential and his decision making skills. So, once you’ve read and learnt about the market structure, you must make a few investments in order to check your skills.

Moreover, with the advancement in technologies, a person who is not willing to take risk with real money can also resort to online trading games which use virtual currency in order to make trades. Many of these games have licenses from the stock exchange and such games can give a good idea to the new investors when it comes to handling the market.

Hire a financial planner:

If you’re are unsure about your skills, hire a financial planner and see how he works around with your money. Learn from his decisions and research on how he made the decisions regarding your investments and with time, you will be able to make your own decisions regarding your investments and learn the trade of the stock market. This method is a little unorthodox, but it does help people in a variety of ways. It also helps you to save your investments in the beginning as the financial planner would take all the measures to hedge your investments against risks.

Summary: It is, thus, a good idea to learn about the stock market through online courses and books by the big investors. Moreover, after learning about the market, practical understanding is a must and small investments must be made in order to ensure that you’ve actually learnt the trick of the trade.

How to Pay Off Debt

pay off debt…Fast

Being off your debt is something that can be difficult to do especially if you don’t know where to begin.  However this article will be able to guide us to what you should do in order to get affairs in order when it comes to your financial situation.  We will give you some concrete steps to follow in order for you to pay off the money that you owe without having to borrow cash from any other source.  Hopefully, you will be able to pay the money soon enough with these tips.

Phase 1: Saving Up For a Rainy Day

The first thing that you need to do is to make sure that you are able to save more money.  In order to pay for your debt, you have to have enough money to do it.  You can only do this by saving up enough cash to use in the future.

Before you even think of spending your money the moment you get your salary, you should start setting aside a small percentage of your salary for debt payment.  You can set up an account at your favorite bank to do this.  In that account, you will only put the money that you plan to use to pay off the debt.  This way, you would not be tempted to spend it on anything else before you are able to pay off what you need to pay off.

Know your options.  It would be better for you to get to know some of the credit cards that will offer a smaller interest rate.  Do not be afraid to ask for help regarding all the credit card information research that you need to do.  This is how you will learn.  In addition to this, you can also have your payment plan restructured so that you can pay a certain amount monthly until you are able to pay in full.

Phase 2: Lowering Your Debt

How to Pay Off Debt

In order to pay off debt, you have to make sure that you earn enough cash for it.  You can only do this by getting more work.  There’s no shame in getting part time jobs to add to what your earning right now.  As long as you are not hurting anybody, you should do everything in your power to pay off your debt.

Try to lower your expenditures.  You can lower your debt by making sure not to incur any more.  You can do this by cutting off unneeded expenditures at home such as cable, or even junk food and snacks.  This way, you will have more money to include in your savings account for the debt.

Don’t buy anything unless you don’t have cash.  If you use your credit card more often, your debt will surely increase steadily and you will have a harder time paying it off in the future.

Invest in Stocks

Investing in stocks can be one of the best ways to increase your income and pay off debt. For the best list of penny stocks and penny stocks to watch I suggest you sign up to newsletters that can help train you how to find good investments and winning stock picks. This way you can increase your stock portfolio and pay down debt super fast.

The Conclusion

These are just some of the many ways for you to get more money to pay off the debt that you owe.  Always remember that the key here is to not increase the debt even further at least until you cover it all.  If you succeed in doing this, you will be able to pay your debt in no time.

What Is Reverse Mortgage?

reverse mortgageWhat is a Reverse Mortgage?

Reverse mortgage is the process of paying off the home loan based on the house’s equity.  What makes it different from normal mortgage?  This article will discuss this in full in the next few paragraphs.  Hopefully, you will be able to read it and learn more about reverse mortgage and what you can expect if you decide to loan out your home using this method.  Here are some additional details about the reverse mortgage method as follows.

The Difference between Traditional Mortgage and Reverse Mortgage

Which traditional mortgages, you are required as the home owner to pay off the mortgage monthly.  After each payment, your home equity will increase based on the principal amount included in your payment.  With reverse mortgages, you as the home owner are not required to make monthly payments.  Instead, if you are not able to pay, this will be included in your remaining balance.  It may happen that the value of the loan may grow to exceed the value of the house.  However, homeowners using reverse mortgage will not be required to pay the additional balance apart from the value of the home.

Possible Advantageous And Disadvantages

According to some experts, there are some advantages and disadvantages to the reverse mortgage trend.  Here is some of those advantages and disadvantages as follows:

It will allow senior citizens to smooth out their financials over time.  It can also provide more welfare benefits for senior citizens in the long run.  On the other hand, one disadvantage of reverse mortgage payments would be its complicated nature.  It would be hard to understand for people who are not experts when it comes to finance.

Aside from this, it also runs the risk of fraud and other scams because of low quality financial counseling involved as well as misleading advertising and promotion.


Depending on your country, there are different set of rules that you have to follow when applying for reverse mortgage is ever you acquire an interest.  In Australia, general requirements are as follows:

The applicant was the 60 years of age.  If there are two borrowers, the youngest one must meet the minimum age requirements just before applying.  In addition, the borrower should also be the owner of the property.  Furthermore, the existing mortgage balance should always be low enough so that it could be paid off by the reverse mortgage in the long run.


  • You can choose to receive it annually, with payments in regular intervals.
  • As a credit line
  • You can receive the money from the reverse mortgages as a lump sum, in cash or at settlement.
  • A combination of all three

Whichever you choose, it would be better for you to know your options regarding how to receive their money so that you would not have any problems regarding this in the future.  It is important for you to know everything that you can about your finances so that you would not have any issues as you grow old in the future.  Hopefully, this article helps you understand a little bit about reverse mortgage and how it works so that it can possibly help you in the future.

What is the Best Social Media to Use?

Best Social Media Sites

best social media sitesWith all the social media websites popping up nowadays, it is very hard to decide which ones to use regularly.  This article will give you an idea as to what you can expect from each and every social media outlet online so that you can decide for yourself which one would be right for you.  Hopefully, you will be able to find out more about the social media websites and how you can use them to your advantage sooner or later.

Social Networking Sites

Are you using social media to primarily connect with other people or for business purposes?  If you’re doing this for both those reasons at the same time, Facebook or even My Space and Friendster are three of the best social media outlets that you can use for networking.  With sites like Facebook, you will be able to connect with your friends and family from all over the world without any hassles.  It will also be able to promote your business more effectively by networking and making an exclusive page for what you’re trying to sell.

Micro Blogging Sites

While you can also use Twitter or Tumbler for business purposes, you will be limited to a certain number of characters per tweet.  This is why Twitter would be best utilized as a venue to connect to other websites.  You can tweet about certain topics that you have posted on Facebook for example and add your links there.  Either way, this social media portal will definitely be of great use to you businesswise.

Video Sharing Websites

Although not primarily a social media site, video sharing websites like YouTube, Daily Motion and Vimeo can help promote your business and connect with people through your videos and user interaction through the comments.  I myself have had the experience of meeting people through both Facebook and YouTube.  So it is definitely something that you can explore in terms of communication and advertising.

With these video sharing websites you can post a video about you sharing certain products that you like or promoting other channels on the website itself.  By doing this, you will be able to help others promote their business while possibly enlarging your community of friends.  You will even be able to get feedback from other regulars on the website that may happen to view your videos.

The Issue of Security

If you’re worried about your privacy when it comes to social media, you can be assured that most of the social media outlets have already done some security measures in order to ensure the safety and privacy of their members.  However, you still have to practice responsibility and produce when it comes to posting personal statements or any other kind of data in these sites.  If you really want to maximize your use of the social media networks, it is important that you are able to maintain good reputation online.

Answering the Question

As for the question on which social media outlet is better, my answer would be that each and every one of these social media websites have their own unique brand of service that they contribute to the internet.  So it really depends on the user himself.  What he plans to use it for and how he plans to connect with others.

How to Save Money at Your Bank

Reduce Bank FeesDon’t Get Ripped Off By Crazy Fees

Most people can take their weekly or monthly paychecks to the bank and deposit them. Some folks try this manually whereas others currently have it all done electronically. Once you are banking, it’s only too simple to overlook the prices of being at the incorrect bank. Some places charge you for everything, which wastes your hard-earned cash monthly. Ascertain a couple of things that you simply will do this can assist you save cash at your bank.

Make sure that you simply have a real free bank account. This could go together with a free check card and haven’t any minimum balances. Some say it’s free checking however you want to have over $600 within the account all month long else you get charged a monthly fee. True free checking generally even offers you a couple of free checks monthly. Use your check card for many of your purchases and checks once you got to for different things.

Don’t ever move into the negative on your account. There’ll be Associate in nursing bill of exchange fee. These generally are concerning $20 to $30. If you are doing bill of exchange and understand it constant day, move to the bank and deposit money. This could post to your account balance straight off not like a check. See the bank and raise them to get rid of the bill of exchange. You would possibly be told no however again and again they’ll take away it for you understanding your position.

If you move to your bank location usually, certify that it’s close. You may realize the right bank with no fees however if it’s several miles away, you may lose cash within the petrol spent traveling thereto. You would possibly save extra money having a bank close with the next price simply because you do not need to waste petrol.

Saving Money with Your Bank

As the economy roils back associated forth and also the securities market behaves like an unruly plaything, several people realize ourselves pinching pennies and searching to undertake and keep the maximum amount financial gain as we are able to probably hold onto. If you haven’t been hit by any of the layoffs you are definitely one in all the lucky ones.

With the unofficial pct at around 15 August 1945 or higher, it is onerous for North American country to not assume that the block remains out there. And also the axe is obtaining sharpened. However, there’s nothing we are able to do that. What we are able to concentrate on is what we’ve got management over and that we have management over our bank accounts to an outsized degree.

It extremely irks ME what quantity cash the banks have remodeled the backs of operating people. The massive bonus that several of the Wall Street companies are doling out like day candy on the first of November is outrageous. That smacks of total lack of penitence and since of that I actually have set to prevent giving my bank any further cash only for holding onto my money and creating interest off of it.

How to Find the Best Mobile Phone Plans

mobile phone plansBest Mobile Phone Plans

Are you looking for the best mobile plans that you can have for your personal and professional use?  This is the right article for you to read.  We will give you some tips on how to find the best when it comes to price deals, features and the perks of using a definitive mobile phone plans for your business or personal endeavors.

Know Your Options

First and foremost, you had to know your options.  What are the available cell phone brands that you can choose from in the market?  Doing your research is the key here.  You have to make sure that you are aware of what the market has to offer in order for you to make the best choice you can.  This week, you will not have a hard time thinking about what might be out there for you in terms of gadgetry.

Inquire and Do Your Research

Do not be afraid to ask the mobile phone company representatives as to what they have to offer you in terms of products.  As a customer, you have the right to know these things.  It would also help you to ask your friends and family members about the best mobile phone brands that you can consider buying.  Perhaps they can even come to the store with you themselves to help you choose.

Be Aware Of the Features

The next thing that you have to look for when it comes to mobile phone plans is the features.  Does it have everything that you would need in a mobile phone?  If it does, you have to ask the next question which is how much would it cost you?

The Price

The price is something that you would definitely have to consider when it comes to mobile phones.  Would you be able to afford it in the first place?  If it seems too expensive, are there any much more affordable plans from the same company that will offer the same machine and features at a much lower price?  If there are such things, you ought to get to know those plans and learn to negotiate.

Learn to Maximize

You also have to learn to maximize what you can get out of your phone.  Ask about any accessories that you may be able to get along with the plan.  Additional perks and promotions are well worth considering when it comes to finding the best mobile phone plans.


In addition, another thing that you have to consider is longevity.  Will it be able to last for a long time?  Will you be able to use your phone without having to go to the repair shop every six months?  If the answer is yes, then perhaps it is the one that you should buy.

It is extremely important that you are able to do your research before you buy any type of mobile phones.  This way, you will be able to get the best out of the machine and still pay less in the process.  In this day and age, you have to be very frugal, but that does not mean that you had to sacrifice the quality of your phone just to save money.  What is important is that you are able to use it for a long time so that you would not have to spend more money in repairs for the coming days.

7 Easy Steps on How to Get a Home Loan

steps to getting home loanAre you planning to get a home loan soon?  Do you have any questions regarding this?  Well you are in luck because this article will try to answer all your questions regarding how to get a home loan at an affordable price.  We will give you some steps to follow regarding this so that you would be able to get the best deals that you can find in terms of loans for your house.


The first thing to do is to wait.  You have to wait until the rates go down for housing loans.  This way, you would not have to spend a lot of money just to get yourself a loan for your mortgage payment.  However, lower interest rates for all those usually mean higher loan prices.

Improve Your Credit Score

The next thing that you should do is improve your credit.  You have to make payments on time especially if the time grows near for your loan application.  Every delinquency in payment can result in disapproval of the loan.  So you have to be careful regarding your credit.

Concentrate On the Mortgage

Focus on the mortgage payment first.  There may come a time when you would have a lot of offers for credit card renewals prior to the approval of your home loan.  So I suggest that you focus on paying off your mortgage first before doing anything else.  It would be harder to maintain a good borrower’s credit if the home loan representatives cannot be sure when or if you’re going to pay at all.

Save Your Money               

Save for your down payment.  The biggest problem that you can have when applying for a loan in your house is the lone to value ratio.  The larger your down payment the more equity you have for the property.  Because of your low equity, you will be getting lower interest rates, which will be good for home owners like you.

Better than saving, invest your money in stocks. Here is a great place to find the best penny stocks list.

Start Small

You should also start small.  Once you get your loan approved, of course you would have to move out of your current house.  Don’t try to get a bigger house just yet.  Make sure to start small and go from there.  You will get more out of your property in the long run if you do this.

Ask Questions

There’s nothing wrong with asking for a second opinion when it comes to getting a house loan.  So, do not be afraid to do so.  Sometimes, the initial rates vary from lender to lender.  You just have to find the right one to suit your needs as a borrower.

Decrease Your Expenses

What is important is that you are able to increase your credit score by paying on time and making sure that you don’t increase your upfront expenses.  This means that you shouldn’t have additional expenses (gadgets, vacations, etc.  ) in your house if you don’t really need it.  If you are able to do this, then you will have an easier time getting your own home loan sooner rather than later.

These are just some of the tips that you need to remember when getting a home loan.  A good credit reputation among others is the most important element in applying for a home loan.  If the lenders cannot trust you to pay up when the time comes, they may decide not to improve your loan before you even start applying.