Bad Credit: Options for Refinancing a Mortgage

Like many people, the recession hit me pretty hard. Thanks to a job loss, I got behind on some of my credit cards. Even though I did mange to make the mortgage payment every month, my credit rating nose-dived. While things did get better, I still wondered if it would be possible to refinance my mortgage with bad credit. After talking with a few lenders, I found out that my situation was not unique. I also found lenders who were willing to work with me. I managed to get terms that will save me money over the life of that mortgage. If your credit has taken a beating, don't assume that refinancing is out of the question. I'll share how I researched options and found a lender who offered a good deal. You could find that refinancing your mortgage is within your reach.

Retirement Options For The DIY Investor Without A Pension

Finance & Money Blog

Retirement is something everyone needs to think about. Even if you're several decades out, it's important that you investigate your options. And if you don't happen to work in an industry and in a company that offers pensions then it is even more important that you look into a do it yourself option. You should learn the basics of investing even if you think you might consider a financial investor at some point. It's always good to know your own investment options so that you can be financially literate and know what to discuss with your advisor or, if you should choose the do it yourself route, what to look for in your own self directed investment. 

A Roth IRA

These funds are perfect for people who are looking to exploit the tax structure. The IRA is designed for people who are working in companies who might not provide a 401k option.The Roth IRA has serious tax advantages in that you pay tax on the money now but don't have to pay later. This can save you a ton of money as the investment can grow tax free for years. You have many options when it comes to a Roth IRA investment. Many people invest in stocks, but there are also other choices, such as the next one discussed, a Gold IRA.

Gold IRA

While most people tend to think about stocks or bonds when they hear about retirement accounts, there are other investment vehicles such as gold and other precious metals. The main reason people like to invest in gold is that it can be a great hedge against inflation and also protect in the event of a large market collapse. The benefit to choosing a gold backed IRA portfolio is that you won't have to worry about holding the actual gold in your own home. You can contact your financial investment firm and ask them about a portfolio that is based on gold.


While many companies no longer offer pensions, there are quite a few that will offer something called a 401k. These are great because you can get a matching investment from your employer. This is a good way to get more bang for your buck. You can also create an additional savings by investing in a Roth or regular IRA in addition to your companies 401k. This way, you can maximize the tax efficacy and create a larger nest egg for when you retire.

Contact a service, like McAlvany ICA, for more help.


28 December 2018