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.

What To Know When Buying Gold Coins

Finance & Money Blog

Do you want to start buying precious metals, such as gold coins? Buying the actual precious metal material removes the risk of using a third party, which is what you are doing when you purchase a precious metal ETF or mining stocks. However, it helps to know the following things before you make your first gold coin purchase.

Buy From A Reputable Seller

It's always a good idea to make your first gold purchase from a reputable seller in your area. This means doing the work to research a gold seller that has a good reputation, which can be researched by looking at reviews from people who have actually used them in the past. 

With that in mind, know that a local seller is going to be limited in their selection of what you can buy in terms of quantity and quality as you get more experience. As for your first purchase, it can be a great way to get started. You'll know that the seller has been able to survive in the community by offering great service and competitive prices. 

Know The Spot Price Of Gold

It's always important to know the spot price of gold per ounce before you make your first purchase, which is the amount gold is selling for per ounce. You'll never want to buy a gold coin for less than what the spot price of gold currently is because a gold coin should always be worth its weight in gold. You'll then be paying a premium on top of the spot price to account for the value and rarity of the coin itself.

Know About Collector And Bullion Coins

You will likely hear about coins referred to as collector or bullion coins. The difference between these two is what they are worth. A bullion coin is going to be worth the current price of gold, which fluctuates as that price goes up and down. There is nothing special about the coin other than that it is made out of gold. 

Collector coins are able to go up in value over the years beyond the price of the gold itself. It's important to know what makes a coin rare, and how much to pay above the spot price for the collector coin. The risk that you take is based on your knowledge of the coin's rarity, and what it could sell for at a later date. 

To learn more about gold coins, such as gold US coins, reach out to a local supplier.


20 July 2022