Friday, December 22, 2006

Mortgage Loans

You can’t buy a home without the ability to pay for it. Usually this takes a mortgage loan.

To obtain a loan, you must apply for it and wait for the lender to determine if you are an acceptable credit risk. They want to know:

1. That you pay your bills promptly.
2. You can afford the amount of debt you are applying for.
3. Your employment history.

It is possible to have a good credit score and still be declined for credit. Handling your credit should be a lifetime project. Over time you can increase your credit score. Improving your score can help you:

1. Get better credit offers.
2. Get better interest rates.
3. Make the approval process happen quicker.

Potential creditors look at your credit report. This report tells them what type of credit you use, how long your accounts have been open and if you pay your bills as agreed.

You should check your credit report yearly. I found a free credit report at You should obtain your report and review it carefully. In accurate information can affect your credit adversely.

Well, this has been Mortgage Financing 101. Stay tuned for more information on this subject and Real Estate.

Sunday, December 10, 2006

Assets and Liabilities are part of all business ventures

Assets and Liabilities
by Nan Wood

Making a profit in a business is derived from several different areas. It can get a little complicated because just as in our personal lives, business is run on credit as well. Many businesses sell their products to their customers on credit. Accountants use an asset account called accounts receivable to record the total amount owed to the business by its customers who haven't paid the balance in full yet. Much of the time, a business hasn't collected its receivables in full by the end of the fiscal year, especially for such credit sales that could be transacted near the end of the accounting period.

The accountant records the sales revenue and the cost of goods sold for these sales in the year in which the sales were made and the products delivered to the customer. This is called accrual based accounting, which records revenue when sales are made and records expenses when they're incurred as well. When sales are made on credit, the accounts receivable asset account is increased. When cash is received from the customer, then the cash account is increased and the accounts receivable account is decreased.

The cost of goods sold is one of the major expenses of businesses that sell goods, products or services. Even a service involves expenses. It means exactly what it says in that it's the cost that a business pays for the products it sells to customers. A business makes its profit by selling its products at prices high enough to cover the cost of producing them, the costs of running the business, the interest on any money they've borrowed and income taxes, with money left over for profit.

When the business acquires products, the cost of them goes into what's called an inventory asset account. The cost is deducted from the cash account, or added to the accounts payable liability account, depending on whether the business has paid with cash or credit.

Nan is an Accountant with a Real Estate info and resource site at
RealEstateLady and her blog to provide basic info to the real estate newbie -

Friday, December 08, 2006

Real Estate Blogger's Gifts

I have been enjoying writing and reading blogs for a while. I've used my own writing and researched other's.

Today I'm writing to give the Bloggers I know some freebies. I joined an Xmas Giveaway for Bloggers. You have ten days to get your goodies - all free.

Visit BloggingGifts and grab your goodies. For more real estate information on a basic level, visit