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Comment on Should I buy a car which is categorized as a finance repossession? by Fellside13

Fellside13 — Fri, 25 Sep 2009 20:56:06 +0000

If the finance company have reposessed it they will want to sell it

1. As quickly as possible

2. At a price which covers costs.(They are not interested in making a profit)

Provided you get something in writing showing that there is no continuing finance on the vehicle you should get it at a good price.

Comment on Should I buy a car which is categorized as a finance repossession? by ken613uk

ken613uk — Fri, 25 Sep 2009 11:58:12 +0000

if the car has been repossessed because the previous owner couldn’t keep up with the payments then they also probably couldn’t keep up with the servicing so I would be very wary

Comment on How does islamic finance /mortgage actually work in plain english please? by Sarah

Sarah — Fri, 25 Sep 2009 01:34:52 +0000

Islamic Banking and Finance system is based on some ‘Modes of Finance’ or ‘Islamic Financial Instruments’. These modes are Murabaha, Ijarah, Musharakah, Salam, Istisna, etc., and are applied as per the nature of contract.
The mode of finance used for ‘Mortgage’ is Ijarah or Ijara. Given below are the basic principles of Ijarah:

(1). Transferring of usufruct of an asset to another person for an agreed period, at an agreed consideration.
(2). The Asset should be valuable, identified and quantified.
(3). Anything which cannot be used without consuming cannot be leased out. e.g.. Money, Wheat etc.

For more details, you may visit ‘Free Study Notes’ section of ‘Academy for International Modern Studies’ or AIMS (a UK based Online Institute for Islamic Banking and Finance,)

Comment on How do I finance a house down payment while I am still making payments on the home I am trying to sell? by Vin

Vin — Thu, 24 Sep 2009 16:36:57 +0000

If you have significant equity in your current home you could do a very low interest rate home equity line of credit. Use that to make a down payment on your new home. It’s risque and I wouldn’t usually recommend it but it sounds like you’re locked in on the new one. Ask you Realtor (If you have one) to request a delay on the closing date. If the seller agrees, it can buy you time to resolve this. Or, if the gamble is too much. Back out of the deal (with potential consequences). Read your contract thoroughly. How much was your deposit and what are the penalties for breaching the contract? Or, you could do 100% loan as an 80/20 split and if you have enough to cover the 20% second loan, pay it off once you sell the former home. You might have to pay for mortgage insurance until you pay the 20% off. The risk there is that if you don’t sell quickly, you will have to consider the carrying cost of the first home that has not sold. It’s a tough scenario you have there. Best of luck!

Comment on Can a finance major do accounting work without an accounting degree? by LongIslandRaceFan

LongIslandRaceFan — Thu, 24 Sep 2009 06:47:53 +0000

In this job market employers have their choice of candidates. If it’s a true accounting position the employer will likely look for a candidate with an accounting rather than a finance degree.

Some jobs are really not accounting positions but involve things like preparing spreadsheets and analysis of data, maybe some light financial statement preparation. These are the kinds of positions where a finance major may fit. But a true accountant, especially one in a public accounting firm, should have the academic training in accounting.

Comment on How much extra money will my finance and I get when we get married? by NWIP

NWIP — Thu, 24 Sep 2009 06:13:49 +0000

BAH w/dependents based on his command’s zip code. If he is already living out in town with you then the difference is around $200 or so per month.

Family Separation when he is gone longer than 30 days on deployment, TAD, TDY or schooling. It is $250 per month.

Benefits for you are base access, medical and dental ($13 a month for 1 dependent or $31 per month for family).

you can live in military housing or remain out in town.

He will pay less taxes because he is now filing married

ETA – BAS he will not qualify for it being in the Navy and married, the Navy does it differently, what matters if he is on Shore Duty or Sea Duty. If he is on Sea Duty then the meals are being provided for him through the galley, this means he gets all of it deducted except around $50 per month. If he is on Shore Duty now like you mention then he is already getting BAS. So that part of the pay will not change at all.

Comment on How do I finance a house down payment while I am still making payments on the home I am trying to sell? by Henry

Henry — Wed, 23 Sep 2009 21:32:54 +0000

When you make an offer to buy the new house, you should include a subject clause – “This offer is subject to the buyer being able to sell his house on or before….”. Your Realtor has made a big mistake!

Now your best chance is to use your home to get a loan to make the down payment. If this is not possible, you may want to talk to the seller and see if he can extend the closing date until you sell the house. More often than not, the seller would cooperate, because it is too expensive and pointless to take legal action when you do not have the money to close.

Comment on Should I buy a car which is categorized as a finance repossession? by fophuntress

fophuntress — Wed, 23 Sep 2009 17:00:58 +0000

no, it’s real risky and dangerous no matter what

Comment on What job including Economics Finance and Management could make me a millionaire in Mayfair? by Karen H

Karen H — Wed, 23 Sep 2009 11:05:03 +0000

Hi,

Owning your own businnes and having multiple streams of income are the way most people become millionaires.

It sounds like you have 2 passions 1/working in Finance and 2/ living in Mayfair.

Sometimes your passions can not give you your dreams. So if they don’t or won’t in the timeline you would like…then find other ways to create the wealth you want so you can live your passions.

Read online or pick up a book by Robert Kiyosaki, He talks about how to create weath and use multiple streams of income.

Example: Income from rental property you buy, returns on stock investments, small network marketing business, and your salary from your employer. The 1st 3 are the most powerful, because they allow you to leverage your time and make money when you are not actually working.

I do all 4 and even during this down economy I see growth overall. Growth in 2 of the areas (real estate properties and network marketing), equal in my job and of course right now my stocks not so good. But overall still growth.

I wish you the best at both of your dreams. Email me through my profile if you want to chat more.

Live Happy,
Karen

Comment on What website is the best for free web hosting? by worldofans

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