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How to Get Financing in Texas

Are you in the mood for a new car but can’t get that car loan? Is your husband ready to purchase that new boat but can’t get a boat loan? Would you like to use your home equity to pay off some bills, make an investment, or take a much needed vacation? You may say yes to any or all of these questions. But every bank you visit says no to your request for financing.

In the current US economic crisis more and more people are having difficulty getting the financing they need. Many of them have good or perfect credit. But banks across the nation are hesitant to lend regardless of the credit score. Texas banks are no different. Not only are Texas banks suffering from the same issues as other US and world banks but they are also reluctant to extend credit to customers. Since much of the system is fueled by credit flow how is one to obtain a loan during this crisis?

This does NOT mean that you will not be able to get a loan. It just means that you may need to invest a little more effort before you are able to get that loan. There are many things you can do to improve your chances of getting a loan:

First, take some time to consider your current credit situation and personal finances. There are many services that offer free credit report analysis. You should thoroughly examine your credit report. Look for any discrepancies or negative postings. Work tirelessly to correct them.

Next, be sure that your overall debt is minimal or nonexistent. The less debt you owe the more attractive to a lending institution you will be. Contrary to popular opinions there is no such thing as good debt. One of your highest priorities should be to decrease your income to debt ratio.

Finally, avoid using your retirement or savings for collateral. Cash on hand is always attractive to banks. Many institutions may require you to secure a loan with your savings or other cash. But try to avoid this. The amount of money you lose when you withdraw your retirement early is HUGE! Do anything you can to avoid this as you can count on almost 50% of the total amount to be taken away in penalty fees and taxes. When you consider this, it may be worth waiting a few more months before getting that loan.

There may be many banks in Texas that are not lending. But there are a few that are able to lend due to the federal funds extended to them. Credit unions are also a good place to find financing. If your credit situation is such that you can easily qualify for a personal loan then keep shopping around until you find the right institution for you. Ask more questions up front so that your time is not wasted. Keep your patience in full effect and eventually you will be able to get that new car, new boat, or take that long awaited vacation.

Buy and Invest in Gold Bars

You have been an investor for as long as you can remember, but if you have never thought of investing in gold, perhaps this is the right time to do so. Gold ownership has many benefits and once you decide to buy and invest in gold bars, you have an upper hand in the stock market since gold bars are a bit stable in price and never wither or lose value. This means that the gold bars you have right now will still be the same as those produced a hundred years to come and can still be sold at a good price.

Gold bars can be cheap to buy and invest in compared to other forms of gold such as sovereigns. When you want to buy gold bars, think of whether you want the cast or minted type but there are many other types. Also consider the weight of the gold bars; whether you want less than or more than 1 Oz of weight. Gold bars sold are normally offered with the descriptions of their weight, end date of offer, purity percentage and their prices.

Gold bars are preferable because buying and reselling them is easier. The best thing is that you can resale gold bars anywhere around the world. Gold bars are offered in a variety of shapes, sizes and a price, hence getting the right one for you is not hard. For the best dealings, consider buying gold bars in plenty since they come cheaper this way.

The other thing you should remember when buying and investing in gold bars is that bigger gold bars tend to retail at cheaper prices than smaller ones. Hence the more the weight the less it costs. Since gold bars are mostly bought for investment purposes and although their prices tend to go up every year, it is important to familiarize yourself with the gold bar market and the price changes before you decide on how you will buy. If you are new in the investment business, before you buy gold bars, know how the pricing is made and how they arrive at their weights.

Since gold is something precious and valuable, there is no way you are going to buy your gold bars and keep them around but you have to organize for the safe keeping of the bars either in safety boxes or bank. You can make your own safety box that is both theft and fire secured or rent one.

Before you accept to buy any gold bars, check their condition to ensure they are in order. And once you own them, taking care of them is inevitable since they are like your assets. And when you want to buy gold bars through the internet can be tricky which means you need to choose well your dealer, otherwise instead of investing, you will be losing money through scams.

Considering the fact that gold bars can be bought for your own home collection or for selling, the reasons for buying and investing in gold will depend on you but at the end of the day, the step will be a worthwhile one.