Have you ever traveled to a far-away destination for a vacation? If you have been to “the islands” did you enjoy the sun, sea, and sand? Imagine going on a tour of European castles or of archaeological sites of ancient civilizations in Mexico? How fascinating that would be!It may be hard to believe, but just over a century ago most people did not take regular vacations. The vast majority of people spent their entire life within a mere few hundred miles of the exact spot where they were born. Traveling to far flung corners of the earth, whether for business, education, or pleasure was a luxury only the “rich and famous” could afford.Fast forward to the 21st century! What a difference 100 years make! Today hundreds of thousands of travelers and vacationers venture off to the most exotic corners of the earth. Business executives zip around the globe in their private jets. Students venture off to foreign lands for study abroad programs, and for vacationers”¦the entire world is their backyard.Traveling to a new place where people speak a foreign language, spend a fancy currency, travel with different methods of transportation, is a very exciting adventure. There is so much to anticipate, dream about, ponder and prepare for, that for some travelers it might seem a bit overwhelming. However, by following a few foreign travel tips, the journey can be smooth, exciting and everything dreams are made of.The most important foreign travel tip is to research the country that is being visited on the vacation. It is very important to seek out books, online resources and friends to make sure that not one detail is overlooked. An excellent way to visit a foreign land is to actually mingle with the locals and see what the real culture is all about. Often times people travel is small tour groups or visit resorts; both options provide for great vacations but do not allow the opportunity to really get involved with the local citizens.A valuable foreign travel tip is to find time to mingle with the citizens of the foreign countries visited it is the only way to truly absorb the true flavor of the land and it’s people. This experience will stay in the heart of the traveler forever.From Dream to Reality, The Value of a Travel Plan OutlineOnce it is determined which foreign country is to be visited and the key points of interest have been identified and reviewed, it is now time to create a travel plan outline. The creation of a travel plan outline helps to realistically determine the timeline of the vacation. The travel plan outline is a fundamental foreign travel tip that is priceless. Using a travel plan outline allows for the identification of travel needs, hotel needs, locations to visit, points of interest and financial expenses.The travel plan outlines the entire vacation and assists in bringing the dream a bit closer to a reality. When discussing foreign travel, it is also important to mention a valuable financial foreign travel tip, which is to visit a local financial establishment to obtain currency for the foreign country that is to be visited while on vacation. Familiarity with the foreign currency will make it a much easier transition from U.S. citizen to foreign traveler as well as it is also a good idea to have a few dollars to pay for a coffee, taxi fare of other incidentals without having to immediately trying to convert from United States currency to a new, unfamiliar currency.Just about every country in the world has entered the tourism market, and each country has something that a tourist or vacationer would enjoy seeing or experiencing. Just follow the foreign travel tips mentioned above and you are bound to have the vacation of a lifetime.
There is not much that the typical person wouldn’t do to qualify for a low-interest, low-risk loan that they could use to pay down high-interest debt or meet other unexpected (but important) expenses.Fortunately, if this describes your own cash needs and you are a homeowner, you just might be in luck. You may be able to take out a bad credit second mortgage loan by using the equity in your home as collateral.For people with low FICO scores below 600 or even 550, the whole idea of taking out a loan can feel pretty intimidating. That is because in most people’s experience, having a low credit score means getting an automatic “no” from most lenders. Or, it means getting a “yes, but…” and then they slide a contract across the table that shows an obscene interest rate written right there at the top. Ugghhh!The good news is that, since second mortgages are a type of loan that is secured by collateral (i.e., the equity you have in your home), taking out a second mortgage does not have to be a difficult experience. You just have to know how the bad credit second mortgage industry works.If you are in the market for a bad credit second mortgage loan, here are 5 tips that can help you get funded faster:1. Second mortgage loans are also called home equity loans:You may have heard of home equity loans before. Well, home equity loan is just another term for second mortgage. With this type of loan, the equity in your home (i.e., your home’s current market value minus the outstanding first mortgage loan amount) serves as collateral. This means that the lender will face less risk than they would if they were to extend you a signature – or unsecured – personal loan.2. This is different than a home equity loan of credit:A second mortgage is not the same thing, however, as something else with a similar name: a home equity line of credit. With a line of credit, usually the loan is offered at a variable interest rate, versus a fixed rate with a second mortgage. Also, with a line of credit, you just borrow what you want when you want it – up to a certain limit. With a second mortgage, you borrow the money in one lump sum.3. You can borrow up to 80% or more of the value of your home:The concept of loan-to-value (LTV) refers to the maximum amount of money you can borrow under a new loan. For example, to figure out how much you can borrow on an 80% LTV loan, just add up the amount you want to borrow for the new second mortgage to the balance of your existing first mortgage. Then, divide the resulting figure into the market value of your home. If the number is under 0.8, you can use an 80% LTV loan to get the job done. If the result is higher, you’ll want a higher LTV loan lender.4. Special challenges if you have a bad credit score:As you know, your bad credit score can make it more difficult to qualify for a loan. However, since a second mortgage is a secured loan, it means that your lender does have some security in the deal – namely the equity in your home being used as collateral. Therefore, the fact that you have a low credit score does not come into play as much. You may pay a higher interest rate, but you should qualify for a loan.5. Create a stable of at least 5 bad credit second mortgage lenders:The best thing you can do for yourself in order to find the lowest rate on a second mortgage is to apply primarily to lenders who advertise themselves as “bad credit second mortgage lenders” or as “bad credit home equity loan lenders.” Make sure to apply to more than 2 or 3 lenders to increase your chances of approval.Consider these 5 tips in order to successfully find a bad credit second mortgage loan deal with a low interest rate.