Mark Carolin

Posts Tagged ‘Options’

Chances are, if you are investigating your options for mortgage classes, you are doing it for one of two reasons. One, you want to get into the mortgage industry as a career choice. Two, you want to educate yourself as much as possible about the process of securing a new home loan because you want to purchase a home.

Either way, your best option is online. Online mortgage classes have come a long way in just a few years. They offer many different options as far as curriculum, length of class, price, and quality.

The best ones are the ones that get very specific about what they teach. You don’t want to waste time being in a reverse mortgage class when you want to learn about how to get the best interest rates on a cash out refinance.

There is an online mortgage or home loan class for every specific purpose. For those who are looking to purchase a new home and want to make sure they make the best decisions and get the best deal, there’s a class for you. For those who want to become a licensed loan officer, there’s a class for you. For those who want to learn about refinance options, there’s a class for you.

The costs vary tremendously. In general, online courses are much less expensive than physically going to class. There are many online classes that don’t even cost a cent. Some of these, however, are self serving for mortgage brokers who get you to come in to get more educated, but just throw a couple of facts at you and then try to get your business.

In order to find the classes of the highest quality, make sure to read some consumer reviews on online mortgage courses. Reviews of these courses are all over the internet, as people are anxious to let others know if they feel they were ripped off.

A prepaid credit card and a bad debt card are the options open to you if you have an adverse credit record and need a credit or debit card. There are many reasons for you needing a credit card, and even those with a very poor credit record eventually find that not having a card can very inconvenient.

Let’s take some examples a where bad debt card or prepaid credit cards would be better than no card at all:

1. Hotel bookings.

Most people book their hotels in advance – in fact if you don’t you are highly unlikely to get a room! When you book online you obviously have to secure the booking using a credit card. If you book by telephone, you will be asked for your card number. So if you have had your cards cancelled, and no regular card provider will give you one because of your past record, then what do you do? No more hotels for the rest of your life? You are better off with a bad debt card or a prepaid credit card than no card at all!

2. Vacation Bookings

The same applies here, and there is not really any need for me to go further than that. You know how it works: you make the booking and then give your card number. No card, no booking. The days are long gone when you book and then pay cash when you arrive.

3. Any Online Purchase

Any online purchase must be made using a credit or debit card. If you don’t have card you can’t buy anything online. Nothing at all!

4. Autotellers

There will come a time, not too far into the future, when banks will not handle cash except from registered retailers, and even that will die out. Cash for the few items that you need it for will be dispensed by autotellers and practically everything else will be paid using a card of one type or another. Even bars are converting to cards: hand it over when you order your drink, and then every other drink goes onto your tab assigned to that card.

Basically, what I am saying here is that you will find life sheer hell without a credit or debit card, and if your credit is shot, as it is for many people, and as it was for me for a long time, you will find ‘normal’ life very difficult. You will need a card for most purchases, online or not, and unless you have good credit you will need either a prepaid credit card or a bad debt card. Without one of these you will be screwed when it comes to purchasing anything you cannot buy in your local store – that includes hotels, flights, vacations, restaurant bookings, online purchases – in fact anything online that costs money – and even getting cash from your bank.

So why are there both bad debt cards and prepaid credit cards? Why not just one or the other? The reason is that some people cannot take a second chance, and when issued a bad debt credit card without a credit check being carried out, they still screw up on the repayments.

These cards don’t offer you a large amount of credit initially, sometimes only $500 or