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Government Grants to Pay-Off Your Credit Card Debt: Blessings in Disguise

National Debt CountIf you are hoping for a miracle in clearing your credit card debts, you will probably wasting your time.

But if you are diligent enough in looking for information in the right places, you might found something that could be very well your small miracle.

One of the small miracles in today’s recession is Federal grants for credit card debt.

What is Federal grants for credit card debt?

In essence, the Federal grants for credit card debt is Government grants that allow you to pay off all your credit card debts, should you meet the criteria and requirements.

The main purposes of this grant are:

  • To stop you from drowning deeper into debt by taking new loans to pay off your previously taken loans.
  • To help you sustain your credit ratings and reputation.

The best thing of Federal grants is obvious – It doesn’t require to be paid back.

However, there are certain criteria and requirements to be met to be eligible – the first and foremost criteria, you have to be a US citizen, as this grants only apply in the United States.

Federal grants can have tax implications so consult your tax preparer before you file the 1040EZ.

First of all, you need to know how to apply for one.

How to get Federal grants for credit card debt

In general, the requirements to apply for the grants are as follow:

  1. Find the right Government Agencies and seek the information about the Government grants and funding programs – You can find such information from these Government’s sites: CFDA.gov and Grants.gov.
  2. Have the needed information ready: proof of income, your loan monthly payments information, and your total amount of loan taken.
  3. Along with the information the Government Agencies gather about your financial status, your application is then assessed to determine whether you qualify or not.
  4. You will be informed regarding your eligibility, and if you are judged to be eligible, your debt will be cleared as the government pays off the debt on your behalf.

Beware of scams

Just like anything that involves money, there are some organisations and companies that claim to help you getting the grant you’ve always wanted. They are too smart to know that, these days, people are often acting irrationally to get out of debt as soon as possible, by any means.

You homework is to keep your head cool and rational, while focusing your effort to find the right information. Again, the good places to start are these Government’s sites: CFDA.gov and Grants.gov.

Hopefully this post will help you with an opportunity to have a fresh start and build your personal finance the right way.

Image by Kevin Krejci.

Where to Invest Your Money during Recession: Real Estate

Real Estate InvestingWhen you heard about real estate investing in today’s recession, the majority would react by saying, “avoid at all cost.”

The sub-prime mortgages, the sky-high interest rates, and the sharp decline in value – all seem against real estate investing.

However, I encourage you to have a surfer’s mindset that I have occasionally mentioned in my previous posts.

The surfer mindset

Surfer loves challenges. In fact, challenges are what make a surfer perform.

For example, in a surfing competition, weak tides can be a huge, single, factor that will fail the surfer to win the competition. The stronger the tides, the more challenging they will become and the better the surfers showcase their surfing skills.

However, take heed – if your surfing skills are somewhat low, strong tides will swallow you; The key is utilising the right skill sets on the right opportunities.

In your personal finance, you need to increase your financial knowledge in order to ride the right waves, with the right skill sets. Playing too safe will hinder you from achieving the financial milestones you have set. Exposing yourself to risks too much will put you into financial difficulties, even personal bankruptcy.

One of the waves in today’s tide of recession: real estate investing

Real estate is one of the hardest hit sector that causes property owners and brokers alike struggling financially.

If you thought about investing in real estate during recession, it wouldn’t be the right decision to invest your money.

Or, is it?

Many real estates are losing their value – how can they be a good place to invest your money?

Robert Kiyosaki, the best seller writer of Rich Dad Poor Dad series, stated controversially that a house is not an asset, because it is not putting money in your pocket.

General public and many experts are slamming him for such controversial statement, but his statement proves true in today’s recession.

Homes are losing value, the interest rates are high, and the demand is low – the dreaded sub-prime mortgage.

However, as everything in life, there is always a good thing in every bad thing.

Today is probably the best time to invest in real estate, for one reason: Higher mortgage interest rate = Lower real estate demand = lower price tag.

As the real estate business crashes, property prices are in decline, too. Foreclosures are everywhere – this means, opportunities are everywhere, at a discounted price tag. Of course, your eyes for real estate values and prospects play an important role.

One last advice: never invest in real estate with an expectation that your property’s value will go up – it’s not always the case. Instead, invest with cash flow comes first in mind – your property as a rental property.

Image by terren in Virginia.

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