Tax Auctions – Good Safe Investments

For the investor looking to profit in a sickly economy, like that which we now face, there is a need to find alternative forms of investment. This is exactly why tax lien sales have gained more popularity in recent years. As the economy continues to suffer, more and more property owners are failing to pay property taxes. As a result the government begins to penalize with interest and also takes steps to put a lien against the property

What is a Lien?

A lien is a statement against the house, which is formally filed, which then places the property as collateral against the debt. The lien essentially says that should the property sell, proceeds must be used to pay off the taxes in arrears. Should the debt fail to be paid within a set period of time, the government (lien holder) is able to file a foreclosure on the property.

Sending a Lien to Auction

These liens can be auctioned off, but from the time that the lien is placed on the property and the time that an auction is held, the property owner can prevent it. By paying the taxes, whether in a lump sum or in a series of payments, the auction can be prevented. However, should it not be paid, the auction is planned, advertised and held. Investors can come and purchase the liens, thereby becoming the new lien holders. It is important to note that it is not the property, just the tax lien that is sold.

The Benefit for the Investor

By buying the lien, a person or organization can make a very positive return. Thus, these are used as forms of investment. There are two ways that a lien can result in additional income. The first is that the property owner pays back taxes plus interest at a rate between ten and fifty percent. Second, should that person or organization fail to pay then the lien holder can file for a treasurer’s deed and take possession of the property. Any interested parties can find and register as a bidder for a tax auction.
Benefit for the Government
Though the government will not earn the additional interest earned on the debt when they sell the lien, they do get money on the spot. Investors must pay upfront and in cash. Premium bids – bids above the amount owed in back taxes – also earn extra income for the county. All of this income is used as funds to be allocated for government funded projects, groups and organizations.

Benefit for the Property Owner

Though it may seem that this is not a process that favors the property owner, that is not entirely true. This sale of the lien might result in high interest, but the owner is essentially being given a loan, which can help him or her straighten out financial problems, and, in many cases, save his or her property from foreclosure.

If you are interested in learning more about the auctions, there are organizations that are willing to supply the information, as well as details about where and when upcoming auctions are to be held.

Money For The Holidays

This is the time of the year when everyone begins to think holidays and during the holiday season, though everyone wants to be full of yuletide cheer, there is an underlying stress for many that revolves around the need for extra cash.  This is the reason why so many seek temporary employment during the holiday season.  After all, everyone wants to provide a happy holiday for loved ones and often the way that one expresses that is through gift-giving.

Fortunately, this is also the time of year when many industries are looking for part-time or temporary workers to fill in during the busyness of the season.  Even better news is that reports are showing that more companies will hire this year than have in the last two years.  In fact, jobs are already being posted and businesses are accepting applicants.

Typical holiday time positions generally include work in retail, photography studios, restaurants, catering companies, and, of course, shipping companies.  Though there will be an abundance of positions available this year, experts agree that one cannot wait too long to get an application in.  With unemployment at extreme levels, there will be more competition than ever for those positions.

In order to beat the odds, many are also turning to self-employment for the season.  By making and selling goods to be given as gifts, many are able to turn a decent profit.  In addition to this, should one decide to follow the self-employment route, it is a good idea to consider season-exclusives.  For instance, this is the time of the year when homeowners look to transform their homes.  With lights, garland, wreaths and more, people deck the halls, the living room, and the exterior of their homes to make the holiday season  little happier and to welcome guests who come to celebrate.

Cashing in on the holiday season traditions can be a great way to make some extra cash.  Light installation, for instance, is a great way to earn some money and give a customer something to cheer about.  Advertising for this type of business is not difficult, takes little time, and not a great deal of effort.  Additionally, there is very little overhead, especially if you ask that the clients provide the decorating materials.  It is simply a matter of having a sound work ethic, an eye for layout, and the desire to please the client.   In no time, what started as a spare job can turn into a very profitable undertaking.  There are even organizations dedicated to assisting people in the pursuit of such a seasonal business.  Furthermore, by doing a good job this year, one can better secure a profitable holiday season next year.

Credit Score Keeping You From Buying A Home?

If you are in the market for a new home, but are finding it difficult to get lending institutions to give you the time of day, there is a good chance that your credit report is the culprit. Most Americans have heard the term “credit score” before, but few genuinely understand the concept behind it. This article is going to give you answers to some of the questions that might be lingering in your mind about the topic and will also provide an alternative solution to your short term problem.

First, the matter of the credit score should be addressed. Credit score is slightly difference than credit report, but the two are related. The credit report will give the credit score, which is a number between three hundred and eight hundred. Anything below 620 is generally considered a bad credit score. Anything above 720 is considered very good or excellent. The majority of Americans have a score that falls somewhere in between. { Get your FICO® Score Free }The goal is always to maintain or improve your score through steady, on time payments toward outstanding loans or accounts due. This brings us to the other information found on a credit report. After all, it is not just the score that lenders pay attention to. If you have more debt outstanding than they feel you are able to pay based on current incomes, then they certainly aren’t going to be willing to hand over more money to you. It would be too risky of an investment for the lending institution. The credit report will tell this sort of information. It will list current lenders and outstanding balances, which allows the new lending institution to determine your debt to income ratio, or the amount you owe versus the amount that you bring in. It will also give a payment history. In other words, have you been on time with payments recently? If you were late, were you thirty days late or ninety days late? Each of these factors weighs into the credit score and whether or not you should be considered for further lending.

If your credit score is not good at the moment, then it might be time to consider working to make it better by making payments on time, lessening debt where able and tracking your credit report to ensure no one illegally damages it. In the meantime, if you still need a home, there are other ways to buy without seeking financing from the bank or credit union.

Lease to buy is becoming a popular option among Americans as more and more people are finding themselves poorly affected by the serious recession the country is currently facing. This process, which involves paying rent to a landlord for so many months and then being provided the option to buy the house at an agreed upon price, with the lease payments figuring into the sale amount.

There are companies that provide assistance to people looking for a rent with the option to buy property. It may just provide you the personal space you crave and the opportunity to rebuild the fallen credit score.

How To Protect Yourself From Identity Theft

Recently, there had been plenty of news articles and stories circulated all over the country regarding Identity Theft.  Many have  shared their real experiences on unauthorized usage of their credit accounts, bank accounts and other services which involve money.  At least 5 out of 100 people experience this kind of unwanted fraudulent activity.

Thieves will never be after your identity if they will not get any benefit from it. They need your name, birth date, address, etc. to open your financial accounts. One must bear in mind that these personal identification entries are important to validate an account. Thieves will do whatever way they can just to steal your identity and your money.

Your protection depends on you. In this kind of crime, nobody can help you immediately except yourself. The prevention and protection on Identity thieves depends on how wise you are in handling all important information about yourself.

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Here are some things one must take heed in order to protect himself from Identity Theft:

1. One must keep a photocopy of all his credit cards, bank account numbers and other important information in a safe place. In short, one must make a back-up record of all his personal information and personal numbers. Making back-up copies will help you trace and cancel your stolen or lost cards or whatsoever. One must also not forget that even a simple identification card or a driver’s license is very important and can also be a source of information that can be stolen.

2. Dispose your credit card receipts properly. Do not throw your receipts anywhere or it could be taken by thieves. Receipts contain information about yourself and your account. This information may help thieves to possible steal your identity. Shredding your bills and receipts may not be practical at all. When a bill is shredded the paper are the only thing destroyed but the contents are not. It can be retrieved by pasting all shredded paper together. Instead of shredding the bills, on best way to totally destroy your bills is by putting it to fire. There is no way one can retrieve information in the ashes.

3.  Keep in touch with your credit institution. When applying for a credit card and does not arrive immediately to you, contact your credit institution and relay the problem. By doing so, you can prevent any fraudulent activity that may happen.

4,  Create a good combination of numbers for your PIN or passwords. Make sure that you choose difficult to guess PIN. Birth dates, mother’s maiden name, pet’s name, usual or famous number combinations, etc should not be used for your PIN or passwords.

5.  Treat all personal information as personal. Do not give your personal information to anyone who sends you an email and a snail mail. Never give personal information over the phone. Adds on your email offering good promos must be ignored. Do not be tempted by their flowery offerings which only intention is to steal personal information on you.

6.  Secure the area surrounding the ATM before using it. Make sure that nobody is around you watching while making transaction on the ATM. Make sure that there are no unusual equipment illegally attached to the ATM. There had been reports about electronic devices illegally attached to the card slot in the ATM. It has cameras on it which can record your PIN as you type it in.

7.  Bills must be checked every month. All entries in the bill must be made under your permission. If there are charges included in the bill which you do not know, immediately report it to your credit institution and ask for an investigation.

8. Active and cancelled checks must be stored properly. There are banks that offer service like this.

9.  Keep all important documents in your car properly. Do not put any thing which may contain information about you in sight inside your car. You may use the glove box as safety keep for your important things. Never leave it unlocked.

10.  Secure all your personal information in your mobile phone and laptop with a password. Remember that laptops and mobile phones are personal gadgets that are to be used solely by you. So keep it personal.

What one takes is a sense of responsibility toward his belongings, personal properties and identity to totally prevent these illegal activities. The value of your identity is equivalent to the value of your life.