Express Financial

By Dr. Jennifer Baxt, DMFT, NCC, DCC

 Right now, millions of people are going through the pain of foreclosure as the sub-prime mortgage crisis sweeps across the United States. As a result, those millions of people will learn first hand what can happen to their credit score when a foreclosure is put on it.

When a foreclosure happens, it means that the homeowner can no longer make payments on their loan. The property is then seized and sold. The owner of the property receives no money for this sale, and all the money goes to paying off the mortgage for the bank, with whatever is left over going to the bank. This will all happen after about six months of missed payments and a Notice of Default to the homeowner. After three months more of not paying, the sale date for the foreclosure is set and the house is up for sale due to foreclosure.

Everybody knows just how bad a bankruptcy can be for your credit score, but what about if you suffer a foreclosure? First, a foreclosure will stay on your credit report for seven years, while a bankruptcy will be on it for as much as ten years. In regards to your FICO score, it will plummet about 100 to 200 points. This means that if you have great credit at 700, you will most likely fall to about 500. However, if you had perfect credit of 850, you will fall to average credit of 650. It may seem that you can still get credit if your score is at 650 and the foreclosure may not be that bad, but it is. When you apply for credit, credit holders will see the big evil word Foreclosure on your credit report. That means for the next few years, there will be no way you will get credit as many lenders will fear you could default on your loan to them, as you did with your mortgage loan.

Foreclosure is a very difficult situation to be in, but thankfully it is not the end of the world. As many people know, credit is ever changing and it is not set in stone. Therefore, over the seven years that you have to deal with a foreclosure on your credit report, you will be able to slowly repair your credit. To do this, you need to make sure you pay back your bills and credit card payments as you get them. You should slowly try and apply for credit as you go through the years, and you should even go to debt counselling as it will look good on your credit report.

Do not fear that everything is over when you go through a foreclosure. Millions of people have gone through the same thing and millions more will go through it as well. All you can do is dig your feet in, work hard to get through it and learn from the mistake of foreclosure and ensure it never happens to you again. Repairing your credit is at an all time importance and something that you can do yourself. Everything is determined by your credit score, so be alert, be prepare and fix your credit today.

Jennifer Baxt, works with people who are having trouble with their credit and want to improve their score. We offer solutions to credit problems by removing negative items from credit reports. You can visit our website http://www.creditrepairbydrjen.com for more information.

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Important Travel Insurance Secrets That Few Know
By Kuser3

 A major deterrent to travel for many is the simple risks involved. What will you do if youre overseas and something gets stolen, or someone gets hurt? Any number of unforeseen costs could possibly come up over the course of a trip, and any prepared traveler would do well to be ready for them.

A simple solution to this is travel insurance. Available from a number of companies, travel insurance is usually bought on a per-trip basis, and covers things like delayed departure, lost baggage, theft, medical and legal costs, and emergency cancellations. You can also often by specific travel insurance for high risk activities such as for certain sports (like skiing or scuba diving) or even travel to high-risk parts of the world.

Rates, of course, vary. The thrifty traveler would be wise to shop around for the best rates for his or her specific situation. Travel insurance packages can range from seventy to one hundred and twenty American dollars for a two week long trip to Europe for two people. Rates to Africa and other locations are similar.

If youre taking a business trip, you may be eligible for special business rates it wouldnt hurt to check around. Life is all about taking risks a life without risks is a life not worth living. You might as well, however, make sure those risks are covered by insurance. For often less than a hundred, the peace of mind alone is well worth the cost. Check travel insurance out online today.

Travel insurance cost need not be scary. Consider the peace of mind insurance will grant you seventy American dollars is a small price to pay for the lack of stress it provides. Besides, many countries wont let travelers in who arent equipped with travel insurance. Check the countrys embassy website to see if travel insurance is required for travelers entering the country, whether by airport or border. After all, if youre going to take risks anyway, you might as well have them covered financially.

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Travels and Vacation resource to learn Healthy Living . ==> http://www.EntirelyHealth.com

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