18 Aug

What is a Quitclaim Deed

It is almost impossible to transfer any real property from one entity to another without a legal written document. That is why people use different types of deeds for transferring real property. Quitclaim deed is a type of legal document that helps to transfer ownership or interest from person to another. Quitclaim deed is generally used within family members, relatives or friends and mostly among couples at the time of marriage or divorce.

homemoney

The person who is transferring or quitting his or her claim from the property is called Grantor and who is getting the real property is called Grantee. While the grantor signs a quitclaim deed, it means he or she quits all his claims from the property but it does not assure that title of the property is lien free.

How to make a Quitclaim deed valid:

Quit claim deeds needs to be notarized and recorded in the county recorder’s office of your state to make the deed valid. You can fill a quitclaim deed yourself but it is better to take help from a Notary official to fill the deed properly and clearly so that there are no unnecessary confusion in future.

Importance and usefulness of Quitclaim deeds:

As it is said Quit claim deed is especially important to transfer property easily between family members, close relatives or friends. In case of marriage or divorce, quitclaim deed is a useful tool to add or remove a spouse in the title.

  • It can be used to add an heir’s name in the title.
  • After marriage a spouse can add his or her porters’ name to the title of the property by using this deed.
  • Even at the time of Divorce people use this deed to remove one partners’ name from the title of the property.
  • Quitclaim deed is also used to clear a title defect.

Do not use a quit claim deed while buying or selling a real property as this deed does not assure that title of the property is free from all kinds of liens. So, most people prefer to use Warranty deed to buy any property from any unknown person.

One very important thing to mention here is that if the property is mortgage then even if you sign a quitclaim deed, the mortgage will not be transferred and you are still liable to make the mortgage payments on time and make sure that you inform the lender while signing a quitclaim deed.

How to Reverse a Quit claim deed?

Reversing a quitclaim deed is almost impossible one it is signed and recorded properly in the county recorder’s office an signing this deed means the Grantor is quitting all the claims from the property.  So be sure while signing a Quit claim deed and always consult with a experienced real estate lawyer.

 

09 Aug

How to Succeed in Life

Every one of us wants to succeed in life but the real question is, are we successful? Are we doing what we want to do? If we ask ourselves, 90 percent of people will say they are not satisfied and successful in life. But why are we not successful and what it takes to succeed in life? So let’s check out some of the valid points to be successful in life.

How to Succeed in Life

Follow your Passion: Always follow your passion. All of us are gifted in some field or the other. We have to find out what we are good at. Once we discover that there should be no looking back. If you follow your passion and try hard, then you are bound to be successful.

Set your Goals: Your have to set your goals clear in your mind what you actually want to do and become in life. The problem with our generation is that we are not clear on what we want to do or want to become. If you cannot set any goals them it is really difficult to achieve anything in life. So set your goals crystal clear in your mind.

Take your own Responsibility: Taking your responsibility is very important in life. Don’t blame other. Don’t give excuses. It is your life. No one is going to give you what you want. You have to achieve it by yourself. Work hard and be independent mentally as well as financially.

Work Hard: There is no alternative to hard work. Be prepared to work hard to achieve your goals and be successful in life.

Be smart with your money: Use your money carefully and smartly. Never waste your money on things that you really don’t need. Save money for emergency so that on crisis you have money to handle it and take your financial decisions wisely.

Take care of your health: Always remember the old saying that health is our real wealth. So take good care of your physical and mental health. Exercise regularly and eat wisely.

Try to lead a balance life: Life in itself is a balancing act between health, wealth and family. So balance your working life, family life and health because if one of them don’t get proper attention then life becomes difficult.

Always be Grateful: Be grateful for whatever you have in your life. As you are alive, be grateful for that. As you can see, smell, speak and hear be grateful for that. Cherish each and every moment in life.

Never give up: There is a saying that quitters never wins and winners never quit. So never ever give up on what you are looking for. Work hard and follow your passion. You are bound to be successful sooner than later.

Success in life means different to different people but if you are doing deliberately and passionately what you want to do in your life then you are successful. Success does not mean being a millionaire or having huge property, money, car, name, fame and lavish life style. Many people do not want them in the first place. If you are healthy, happy and passionately leading your life as you want to, then you are successful.

04 Aug

How to Make Money from Blogging

As we have discussed before in the previous post that it is really possible to earn money from your blog and here in this post we are going to share different ways by which you can make money from your blog. Now we all know that to start earning money from a blog, it is very important that your blog is a popular one and it has good amount of visitors every month. So once you have make your blog popular and start to get traffic from search engines and social media sites or any other avenue, you can think about making money from your blog. So let’s check the different ways for making money from blogging.

How to make money from Bloggging

Google Adsense: Google Adsense is the most popular way to earn money through your blog. It is one of the easiest and useful way to monetize your traffic and very easy too to implement. It is called PPC or pay per click means when your visitors click on the Google adsense ads, you will earn money. More visitors click on the ads, you earn more money but you should not click on the ads and implementing the ads in the right place is very important. There are different types of ads available to choose from; like content base or visual images etc. They will run ads that will be related to your topic and make your users interested. So there is more chance to click on the ads. More you use adsense more you learn how to use it better to maximize your earning.

Affiliate Program: Affiliate Programs are another popular way to make money from blogging. Here you are get paid on commission wise for sending traffic to a particular site with whom you have tied up affiliate program. Sometimes sending traffic is not enough, the visitor will have to buy something or perform a certain type of action to get you paid. Chose your affiliate partner wisely and don’t tie up with many affiliate partners. Only chose reputed partners who are related to the theme of your blog.

Direct Advertisement: When your blog become popular, you can even make money from direct advertisement like banner ads or info-graphics. There are many advantages of these kinds of ads as there will be no inter-mediator between you and the advertiser. So you’re your earning will be more but to find the advertisers is the main challenge. It is a handy way to make some money online but again be sure that the advertiser site is a reputed one and is related to your theme.

Business Reviews: Some website owner even approach you for their business reviews for their online reputation and make money from these business reviews. Always remember that the uses first policy while doing the reviews. You are making money from these reviews but be honest and review the sites who have already good online reputation and your review should help your views to know more about those sites and their business.

These are only a few ways to make money from blogging and as you grow more and more online popularity, you will start discovering more and more new avenues for earning. While you start earning, never forget your blog as this is the source of your earning. So maintain the same love, passion and intensity as you had while you have started the blog. Hope this helps.

24 Jul

How to Make Money Blogging

Making money from blogging seems like a dream for thousands of people but is it really possible to make sizable money every month by blogging only. The answer is yes it is possible and there are many people who are earning money from their blog. So the question is how to make money by blogging. Many people started blog but cannot find a way to earn enough money from their blog. That is why I am going to share today some of the tips by which it is possible to make money by blogging.

Money blogging

Making money from blogging is not joke, it is reality. What is needed is dedication sincerity and hard work. In the beginning you have to be ready to spend a lot of time making your blog popular on internet. I needs passion, love, dedication and perseverance to make a good blog. Visitors are God for you. The more visitors you get in your blog it is better for you. Start building relation with your readers. Answer their questions and comments regularly. It takes almost 6 months to even a year to make your blog popular before you start to earn money.

Let’s check out some important point to Make Money Blogging:

  1. Being Sincere: You should be sincere and serious about your blog. You have to give time and effort to make your blog stand out from others.
  2. Being Useful: Your content should be interesting and useful to the readers. You have to write engaging content that make your readers interested in your blog.
  3. Being error free: Your blog posts should be error free at least grammatically. If the content is grammatically wrong and have lots of spelling mistakes then the readers will not be interested in your blog.
  4. Being Regular: You should make posts regularly. There should be a balance between frequency, quality and quantity of your blog posts. Try to make posts twice or thrice a week. You can make a post every day, if possible but the articles needs to be interesting and useful.
  5. Try to make relationship with other bloggers in your niche. Make comments on their blogs and share your thoughts with them.
  6. Try to market your blog in different social media and social bookmarking sites. Billings of people spend hours on Facebook and Twitter. So these are great place to market your blog and get visitors.

Now once you make your blog popular and start getting sizable visitors every month, you can start earning. At first your earning will not be that big and slowly and steadily your earning will start growing more.

When your blog start getting huge visitor there are many ways through which you can make money from your blog. Google Adsense is one of the most popular ways to earn from your blog. You can earn through direct advertizing, PPC marketing, Affiliate marketing, selling your eBook or your own product etc. We will continue on this topic in next post. Please Share your thoughts and comments.

15 Jul

What is a Second Mortgage

Second Mortgage is exactly what it sounds like. When someone applies for a new mortgage while he already has a mortgage against his home or property, the new is called a second mortgage. The 2nd mortgage is a secured loan because the house will be used as the collateral. In case the home owner defaults on paying the 2nd mortgage, the bank or the lender can take the home used as the collateral to pay off the loan amount. Here it is needed to mention that the lender of original loan or the first mortgage will be paid off first, and then the 2nd mortgage lender will be paid off.

2nd mortgage

The Second mortgage is generally risky for the lender and that is why the interest rate of this kind of loans is higher compared to the first mortgage. There are two types of 2nd mortgage. One is called home equity loan and the other is called home equity line of credit. In home equity loan the home owner will get a lump some money at once and pay it over a period of time and the interest rate is generally fixed but home equity line of credit is used as a credit card. There will be a credit limit and the home owner can spend the money to his requirement. Interest rate of HELOC is generally adjustable or not fixed.

How much will one get as a 2nd mortgage depends on how much home equity he has. Suppose the current market price of the house is $300,000 and amount due to the first mortgage is $180,000. So the home equity will be $120,000.The home owner can use this equity to get a second mortgage. Lenders can approve 70 to 80 percent of your home equity amount as a 2nd mortgage.

People take second mortgage for different purpose like home improvement or renovating the house or to buy a dream car or anything whatever he wants but before applying for a 2nd mortgage there are few things that needs to be remembered.

1. When he takes a 2nd mortgage, take additional burden of another mortgage payment while he has one as the first mortgage.

2. As it is told before the interest rate of this type of mortgage are higher compared to the first mortgage.

3. There are different fees associate to it when someone apply for a second mortgage like appraisal fee, closing cost etc. so check out whether it is best option to get a 2nd mortgage even after paying these fees.

4. Lenders will check whether the home owner has a good employment history, good credit score, low debt to income ratio etc.

It is not necessary to obtain the second mortgage from the same lender who has provided the first mortgage. It is actually better to compare different lenders and the rates so that the best lender and best interest rate is obtained.

12 Jul

How to calculate debt to income ratio

Debt to income ratio or DTI is very important to know for you as well as for the banks and lenders if you are willing to get mortgage loan or an auto loan. The lenders check your debt to income ratio to find how much you can afford to borrow as a mortgage loan and can you make payment to them on time. This is very easy to calculate and you can do it by yourself to get a rough estimation. Now to calculate DTI you have to add all your debts like payments to your existing mortgage loan, auto loan and any other debts and liabilities. So that is your total amount of recurring monthly debt. Then divide your recurring monthly debt with your gross monthly income to find your debt to income ratio.

DTI

Now suppose your monthly mortgage payment is $1200 and you have another loan for which you have to pay $120. So that makes it $1320. Then you have other recurring monthly debt or liabilities of $300. So that makes your total monthly recurring debt amount of $1620 and suppose your month gross income is $5000 then your debt to income ratio will be 32% ($5000/ $1620) and that will be considered as a good DTI as anything below 36 percent is considered as good.

The lenders are looking for lower debt to income ratio and the lower it is the better chances for you to get the mortgage or the loan approved and the higher your debt to income ratio is the more trouble you are in. You should generally keep your DTI around or below 36 percent while applying for a new mortgage loan. The highest DTI that a lender might approve is 43 percent but that also vary to lender to lender and the loan program that you are applying for because a small lender or a new lender might consider you with a bit of higher DTI but even then they will make sure that you can afford the loan amount to pay off.

 

10 Jul

Ways for Students to Make Money

In student life we all know that we have lots of spare time and lots of energy but unfortunately most of the students do not have enough money in their hand and pocket money does not always meet all ends up. So as a student we always wished if we have some extra money in our hand. Teenage and the young students are actually in most need of money and sometimes they are short of ideas on ways to earn money as a student in their spare time. It is actually fun to earn money on spare time and also gather knowledge. So let’s check out some of the useful ways for students to make money.

Free money finance

1. Promotional job are great way to earn some extra money, have fun and socialize with people. Different brands need young people for the promotion of their brands. This kind job does not require any degree and academic experience and the earning is good.

2. Being a private tutor is also a great way from earn some cash on your extra time. This is a fun job in you can jell with the children. Spending time and teaching children is great way and you can also learn something new about life from them. The quality that you need to be a private tutor is passion and patience and not to mention that the payment is good as a part time job.

3. You can make a blog or a website and earn from the Adsense and paid ads. This is a great way to earn. Now you might think what should you write on your blog? It can be anything that makes you interested or you have passion and knowledge about the topic. The idea is to serve your visitors with useful information that they are searching on the web. If you can gain huge visitor on your blog or website, then it’s a great way to support you study and make some handsome cash.

4. Work as a freelancer. If you have any skills like website designing, making logos or advert, you can work as a freelancer. There is a huge demand in the web for this kind of skill set and you can earn $ 200 to $300 easily working on your spare time.

5. You can work in a restaurant or café. The pay is nothing great to mention but it is good do something than nothing.

6. You can work in a bar and it is a useful job as the time for this job will not clash with you college hours. The salary is not big though but you can get some handy tips and that will support your salary.

7. Babysitting is another way to earn as student. If you like spending time with cute babes this is the job for you. You can a chance to spent time with the cute little ones and get paid at the same time.

There are many other ways to earn as a student and these are only a few of them. The main thing that you need is the will to earn on your spare time and also the passion for your work. Hope this helps and please do share your comments and suggestions and if you want to add any other points for the student to earn. You are most welcome.

09 Jul

Money Saving Tips

Money is may be one of the most important things, if not the most important thing in our life. Whatever you do, you have to buy your food to eat, if you do not have a house you will have to pay rent to your landlord or the house owner to have a shelter over your head, you have to buy your clothes to cover your body from nakedness and now a day we even have to buy water to drink. In other words money in needed in every step of our life and with inflation and rising the price of each and every product in the market and items in the market, meeting all ends up at the end of the month becomes a bit difficult for most of us.

money saving

That is why we should be little more careful about our approach towards our life and money. We all know the importance of saving money and if we become a little bit careful, we can save good amount of money even after meeting all ends up. Below there is some money saving tips. Please check them out and hope these are helpful to your everyday life….

1. The first thing that we all should try is not buying the things and products that are not really needed or important. Buy only the items that are really important for you. If we spend on things that are not necessary, then there will a time come when we will have the money to buy the things that are really necessary for us.

2. Save aside 25 to 30 percent of your earning each month and make a budget carefully that will take the remaining 70 to 75 percent of the money that you earn each month. There is a saying that save money first and then spent with the rest of the money and that’s really help.

3. Stop going to multiplexes or movies because the price of movie ticket have increased incredibly in recent times and add to that we need cheeps, cold drinks, burger and what else god knows. None of the things are good for your health. You can spend the time better in any other recreational work. You can spend the time with friends and family, playing some game or learning something new. Anyways you have watch the movies in your home and that will save you lots of money.

4. Avoid buying expensive items on impulse. Think twice before spending on expensive objects and that pause can save you lot of money. We buy lots of expensive things in our life on impulse and then think that we could have avoid buying it and it seems unnecessary. So stop buying on impulse.

5. Track all your expenses over the month for at least a month and check out what are the excess spending that you can stop and save aside little bit for your emergency saving.

6. Avoid having multiple accounts in different banks and that will save you paying the yearly charges to the banks. Also be careful about bouncing checks and overdrafts.

7. Planning for giving gifts to your friends and family members in advance is a good way to save a few bucks. Avoid spending on expensive gifts and if you can plan in advance then you can shop around and compare price. If you are a creative person then you can even make a gift for your near and dear one because the price tag of your gift does not always matter but the ingenuity does and it also save money.

05 Jul

Welcome to All

This is very first post of Free Money Finance Blog. This Blog is the source of my enthusiasm, inspiration, determination, motivation. I know we will have go a long and this is a start but in this journey of sharing and caring, we will like to have your support, suggestions, active participation. A blog can only be successful when the reader and the users of the blog get satisfied and participate actively. So We are welcoming you all from the depth of our heart.

This is not only a Personal Finance blog but here we will like to discuss on various topics on finance like Banking, Saving, Managing your personal budget, Mortgage, Debt, Insurance, credit and also about the personal safety.

The objective of this blog is very simple.. to cater the information related to finance industry to all. Now if there is anyone who like to share any information related to finance industry or anything on banking, insurance or even any personal experience that will help the reader, then you are most welcome.

Now last but not the least, we will like to have your comments, advise and suggestions. Your participation is our success. Your engagement is our complement. So guys visit, participate and make this blog a grand success.