Mortgage: Making Sure You Qualify

Nowadays, it's very hard to purchase everything by paying cash in full, asking for an installment plan or simply relying on your credit cards. Sometimes, the cost of your needs is indeed greater than what you can afford or have at the moment and that's why you need to apply for a mortgage.

Whether it's your house or car that you want to mortgage, it certainly isn't easy to pass or qualify for a mortgage, whether you're doing it online or in person - either way, the requirements are the same.

Sure, if you've got all the papers and all the proof that they'll need - like, maybe, a million dollars' worth of investments, you wouldn't have to worry about qualifying but then again, with that kind of money, you surely don't need to apply for a mortgage in the first place.

But going back to our original topic: we're here to discuss several options or steps you could take to increase your chances for qualifying for a mortgage. Remember, this will simply increase your chances - it's not a complete guarantee that your mortgage application would be approved.

Step # 1 - Obtain Your Credit Reports

Whether you want a mortgage for your brand new summer home down the Hamptons or you're planning to purchase a Lamborghini, trust me, whichever mortgage company you're about to approach, the decision will always come down to your credit ratings. And so, knowing that, before you do approach a mortgage company, make sure that you obtain a copy of your credit report first. It will ensure that you can rectify what can be rectified early on so as to avoid causing ill effects on your mortgage application.

Check for your FICO scores. That's always something that matters to all mortgage companies. If you have a score above 650 that means you're safe and your mortgage application is almost 100% guaranteed to have the stamp of approval. If you have a FICO score below 650 but still above 550, you're classified by mortgage companies as "sub-prime" which shall only entitle you to interest rates higher than what they would offer to individuals with high FICO scores. But if you have a FICO score below 550, don't approach a mortgage company just yet. Right now, you have to think about credit repair first.

Step # 2 - Fixing Bad Credit

Don't set yourself up for a fall. If you already know that there's a huge chance your mortgage application shall be rejected then naturally, don't proceed with the application. Instead, try fixing your bad credit before applying. That way, you have better chances of qualifying for a mortgage.

Auto Accident Insurance Claims - There Are Some Things You Need To Do

If you have been in an auto accident then you will likely have to file an auto accident insurance claim. This can prove to be quite a task dealing with insurance adjusters and the things that come with it. When filing an auto accident insurance claim there are some things you should know that will prove to be essential to you.

Contact your insurance company very soon after the accident. This is the first one to call in case of injury also. Take time to read what pertains to your auto accident insurance claim when you first receive your insurance policy this will help clear up any misunderstandings before accidents happen and will give you an idea of what your auto accident insurance claim entitles you to instead of having to worry about it while your going through the trauma of an accident.

When you writing your statement include as much details of the auto accident as possible. You can reinforce your claim by taking pictures of the vehicle and any injuries that may have been sustained due to the auto accident. Take down names and numbers of any witnesses that may be able to help in proving your auto accident insurance claim when the time comes. Remember to take notes on any other persons or vehicles that were involved in this accident because this is very important to your claim.

Keep all records pertaining to your claim. Write down when you have a conversation with the insurance officer, agents or anyone else that is involved with this auto accident insurance claim. Remember to keep all the bills and receipts that you may incur during this time. It is important to be honest with your insurance company because if you are not you could be disqualified due to fraudulent reasons. An auto insurance claim has been turned down many times on these same bases.

Another important thing to remember is that you may make more than one auto accident insurance claim, so check any other policies you may be holding to verify this. Take time out to review all your policies. You may be entitled to file more that one auto insurance claim, so make sure you claim for all that you are able to claim for.

When making an auto accident insurance claim there are some things that you must remember to do. Make sure you do them all and keep records.