How To Get Banks To Say Yes Over And Over Again Each Time You Ask Them For Money
by: Ugo Okonkwo
For God's Sake! Look at them all! Everyone is busy running around like a headless chicken trying to get-rich-quick. Make a fast buck from the latest craze and then move on to the next 'big' thing. Here's a tip from me for free. Find one thing that works and STICK TO IT.
The simplest and easiest is probably real estate. If you're serious about making big money and you truly want to retire sooner rather than later then start here. Save the pennies and re-invest. In other articles, I gave sure-fire tips on how to get started the easy way. I will now talk about how to continue growing. How to continue building your empire once you've started.
The secret to winning against any financial lending institution (as is the secret to winning any battle) is to know your enemy. Know this: banks want to lend you money. In fact, they will bend over backwards to lend you money. But (important) only if they think that you are a safe bet.
They will always do a credit check on you. If you fail this check, you've no hope of getting the best possible deal from the lender. Expect to be offered extortionate interest rates and to be treated with no mercy should you even think of defaulting on half a re-payment. In case you don't know, any money that you have ever borrowed, e.g., a credit card, store cards, mortgages, car loans etc are kept securely on record. This is your credit file and the information is collected and updated very, very regularly whether you like it or not. If you absconded four years ago and did not settle that 12.50 parking ticket, it will be on your credit file. The credit check will reveal all.
So, put the odds in your favour. Get a copy of your credit report, read it and correct any errors or mistakes by contacting the CRA (Credit Reference Agency) involved. Be up-to-date with all bill payments. Lenders do not like to see maxed-out credit cards on you credit report so leave a third of the limit available to spend. After you've perfected your credit report. Fill in those forms and start applying for mortgages and watch lenders fall over themselves to be of service to you.
About The Author:
Ugo Okonkwo - http://www.businessomatic.com/.
Ugo trained and works as an Orthopaedic Surgeon. His interests also include entrepreneurship and he has set up many successful business websites including http://www.businessomatic.com/
April 2006
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