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December 22, 2012

VA Streamline Loans for perfect refinancing

There is help for our veterans who are looking to refinance their mortgage loans. With the help of a VA home loan when using a VA Streamline loan the refinancing process should be very easy.

What Is The VA Streamline Loan

The VA Streamline loan was created in 1944. The purpose of this loan was to give aid to the former military personnel when purchasing their homes and helping maintain their homes. This is a loan that was guaranteed by the Veteran’s Administration. With this type of a loan the veterans would receive an interest rate that was considerably lower than that of a typical financial lender.

Even as a veteran there are those that are being denied for the VA Streamline Loan. They are being denied due to a not so good credit history or because the home that they own has lost it’s original value. Believe it or not even though the banks are denying you there is still help and options available to you.

Guidelines To A VA Streamline Loan

Even though the lenders claim that they know all of the mortgage rules and policies for every type of a loan out there the personal loans for bad credit lenders who are unfortunately denying the VA Streamline loans are doing so because they do not know the policies of the lending for the Veteran’s Administration. They will deny the loan due to them not wanting to take the risk. This is not correct. It is important that as a veteran you know the guidelines and rules as well as the lender.


The first and major thing to remember when applying for one of these loans is that there is no credit score required. Many lenders will demand that they run your credit score. If you are a person with a not so good credit history it might be a great idea to walk away from that lender and find one who will follow the correct policies of the Veteran’s Administration.

Another guideline that should be followed is that there is no appraisal required. This is a very important guideline to remember because in today’s housing market there are many people who have upside down mortgages. This is because the values of their homes have crashed and the amount of their mortgage is more than what their house is worth. As a Veteran you have the option of refinancing your home under the VA Streamline loan without having to worry about how much is owed on your current mortgage loans with no credit check.

The last guideline is that manufactured homes are eligible. If you are a veteran with a current VA mortgage loan you will be eligible for this loan whether you have a manufactured home or a home that the frame has been built.


As a Veteran you have many advantages when it comes to certain things. A home loan and a refinance of your home loan is one of these advantages. You should take advantage of all of the benefits that you receive. After all you have served the country and you deserve what it gives back to you.

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December 21, 2012

Curving expenditure this Christmas

Thanks to rising costs in general and the need to save a bit more, Christmas has started to get harder to deal with on a financial basis with each new year. Those with big families tend to find it the hardest, but everyone can benefit from a few simple budgetary tips.

There are so many options and methods to be implemented to ensure that you are not overstretched at Christmas and all shouldn’t be too hard to apply to your festive spending habits.

  • Although this is perhaps a tip that is a bit late, it is certainly one that is effective; the tip being to start your Christmas shopping early. This allows you to take your time and survey all the numerous offers and sales that are almost certain to be in effect. Remember to look on the internet as well as the high street for deals.
  • Using online vouchers or eMoney will help restrict your expenditure, as well as ensure your payments are safe and anonymous. Online vouchers from somewhere such as Ukash only allow you to put a certain amount of money on them and so you can’t spend any more than you have on the voucher.
  • Setting a maximum budget for all the people on your shopping list allows you to see the most you will spend on Christmas presents and so you can budget for that set amount, because as long as you don’t go over it, you can set your other budgets in relation to your shopping list.
  • Another good tip is to buy early if you’re buying online. Some online stores hike up the delivery prices in the run up to Christmas to take advantage of those late to Christmas shopping and have no choice but to pay the heightened prices.
  • Ensure that you are realistic about what you can afford and that you have considered all the other expenditure that is coming out that month that might include heating, gas and water, as well as the likes of travelling costs over the festive period.

Implementing these tips will help you save bundle of money each Christmas and may even inspire you to more helpful tricks to help curve expenditure at one of the most expensive parts of the year.

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December 20, 2012

Know the basics about Forex Terms

Foreign ExchangeBefore you decide to jump into foreign exchange market as a broker or as an investor, you must acquire a basic knowledge of how this market operates and the terms used in it. The foreign exchange market never shuts down and operates 24 hours a day on all working days. It is the largest liquid financial market. It’s not like a typical ‘market’ or stock exchange. There is no central trading location. All the transactions are conducted over the telephone or electronic foreign exchange trading networks. The ‘interbank market’ is the primary market for currencies. First of all, remember foreign exchange has been abbreviated to ‘forex’ and ‘FX’ by the people who are active participants in foreign exchange trading. Here is a list of the basic terms used in forex trading.

  • Exchange Rate: The exchange rate expresses the value of one currency in terms of another. For example, AUD/JPY = 88.6348352. This means, 1 Australian dollar is equal to 88.6348352 Japanese yen.
  • Currency Pair: The two currencies shown in an exchange rate are called a ‘currency pair’. The first currency is known as the ‘base’ currency, and the second one in the pair is called ‘counter’ or ‘terms’ or ‘quote’ currency.
  • Currency Codes: There are eight major currencies which are traded in the forex market. There is a three character code that denotes the country. The major currencies are;

USD = US Dollar
EUR = Euro
JPY = Japanese Yen
GBP = British Pound
CHF = Swiss Franc
CAD = Canadian Dollar
AUD = Australian Dollar
NZD = New Zealand Dollar

  • Lot: The standard unit size of a transaction. A 100,000 units of the base currency are called a standard lot. If its 10,000 units, traders refer to it as ‘mini’ and 1,000 units are called ‘micro’.
  • Pip: This is the smallest unit in price quote for currency. Beginners will note that forex traders quote currencies with 4 decimals. For example if a price is quoted as 1.2345 the last digit ‘5’ is known as ‘pip’. If it goes up by 3 pips it would be 1.2348.
  • Bid and Ask Price: The bid price is the price at which the forex market will buy a particular currency from you. The ask price is the price they are ready to sell a currency to you. The market makes money when the ask price is higher than the bid price. The difference in the two prices is known as the bid/ask spread.
  • Sell Quote / Bid Price: The sell quote is the currency on the left of the pair known as the base currency. For example, if AUD/USD = 1.0532/03, this means you can sell 1 Australian dollar at the bid price of US$ 1.0532.
  • Buy Quote / Offer Price: The buy price is displayed on the right of the currency pair. This is the price at which you can purchase the base currency. It is also known as the market maker’s ask or offer price. For example AUD/USD = 1.0532/03 means that you can buy 1 Australian dollar for US$ 1.0532.

Once you are familiar with these basic terms of forex trading you can take the plunge and learn more advanced terminologies and how this unseen market operates.

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December 19, 2012

The Difference Between Being Right and Being Profitable

To profit when buying a stock, you must be right on the direction as soon as you enter the trade. If the stock goes up, you’ll make money, and if the stock goes down, you’ll lose money. If you short a stock, and the stock goes down, you’ll make money and if the stock goes up, you’ll lose money. Pretty basic, right?

However, once I learned how options work and started to trade them many years ago, I realized Newton’s law of motion could allow me to profit regardless of whether a bullish trade went up, or a bearish trade went down.

To quote Isaac Newton, and I paraphrase, “A body in motion will remain in motion.” The Moses corollary to that would be: “A stock in a trend, will remain in a trend – until it isn’t.” And as long as it stays in that trend, there are numerous options strategies designed to take advantage of one of the attributes that make options unique: time decay.

This means it’s possible for a stock to go absolutely nowhere, or to even be wrong directionally on a stock/option trade, and still be able to profit. Now I don’t mean is Enron wrongÉ but it is possible to have a stock go against you directionally by 5%, sometimes even 10%, and still profit. This strategy can be accomplished by the buying and selling of out of the money options, which if they are still out of the money on their expiration date, will expire worthless (and traders would keep the premium sold).

Now while I can’t speak for everybody, the only reason I’m in the market, the only reason I’m a trader, is to… make a profit. So how liberating is it to know that you can profit, even when wrong on the direction your analysis suggested a stock would move in?

Here are 7 conservative options strategies designed to profit when stocks either go nowhere, stay above or below specified demand or supply levels, or stay within a defined range.. for approximately anywhere between three and six weeks:

1) Bull/Put Spread – You sell a put option at the strike price you expect the stock to stay above, and buy another put option at the next out of the money strike price.

2) Bear/Call Spread – You sell a call option at the strike price you expect the stock to stay under, and buy another call option at the next out of the money strike price.

3) Bull/Call Spread – You buy a call option, and sell another call option at a strike price you expect the stock to stay over.

4) Bear/Put Spread – You buy a put option, and sell another put option at a strike price you expect the stock to stay under.

5) Cash Secured Put – You sell a put option at a strike price you expect the stock to stay over.

6) Covered Call – On a stock you already own, you sell a call option at a strike price you expect the stock to stay under.

7) Iron Condor – You enter a bull/put spread and a bear/call spread at the same timeÉ looking to capture a range you expect the stock to stay in between.

Every option trade carries risk of loss, up to and including 100% of the principle invested.

This is a guest post by Steve Moses, Options Trader and Instructor at Online Trading Academy

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December 18, 2012

Why forex Puts You at an Advantage – A knowledge base

Forex TradingIn simple terms FOREX or foreign exchange trading is simply that, trading in foreign currency. You can trade one currency for another. For example, you can trade between the Euro and the dollar or vice versa or between any other currencies. The world is open to you. It is easy to start trading in FOREX, all you basically need is a computer, an internet connection, some basic knowledge about the market and obviously, some money. In the foreign exchange you can trade 24 hours a day, five days a week at any amount. You don’t need to have a lump sum of money to start trading, you just need to have enough to allow you to trade and turn a profit.

Some points to keep in mind when trading

If you are trading in the foreign exchange market and are doing well and want to keep your advantage then there are some points to keep in mind. Always know the market. Study it, so you know what is going on.

Always have a plan in place. Know when to get in to the market and when to step back. Always use your head and your research, never your gut or instinct.

Never invest all your money in one place. Always keep a certain percentage aside for each trade. That way if you incur a loss you wouldn’t have lost everything. Also, if you lose in a certain area then pull out and don’t invest in that again. Move on.

Always trade with the trend and never try and think you can beat the market. The market is always right and you will do well keeping that in mind.

Never try and make a profit in all your trades. Just ensure that you keep a good and positive balance between your winnings and your losses.

Lastly, you might have heard and noticed that all successful traders usually buy when they hear bad news and sell when they hear good news. So why not give it a try? After all it is working for them.

Further advantages

Another advantage of trading in FOREX is that you can enter and leave the market whenever you like. You are not bound by anything. The foreign exchange market is also the most liquid financial market there is and therefore, over three trillion dollars are traded on a daily basis.

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