Save Spooktacularly this Halloween without saving on Fun:

Halloween day is here again with barely few hours left for the celebrations. 31st October - the fun time of year and is particularly great fun for the kids. You and your kids transform to totally different person by dressing up in fun costumes. Not to mention, a time when American families will have to spend great amount in Halloween candy, costumes, decorations and other things for their little ones.

Most of us are still recovering from our financial crisis, but don't be disheartened, you can still create a fun and enjoyable Halloween. A lot of money can be saved by making decorations and costumes yourself by utilizing the items already present in the closet. This would help you to avoid purchasing expensive outfits, that too only for single use. Also a great idea will be to swap costume with relatives, friends or neighbors.

Let us come to decoration part. There are many items which can be recycled and re-used for decoration purpose. So be smart and pick your choice, and keep them in safe place so that when October comes again next year you can use them again.

Halloween equals lots of candy for kids. And you will not like to disappoint your son or daughter by compromising with candy. Buying in bulk always saves money and you can certainly go for it. If you think that there is too much, you can always split the packets with a friend or neighbor. This will make both, you and your kids happy.

These are only some tips to help you save this Halloween without saving on fun.

Have great fun this Halloween!

Budgeting to Win

We all know the basic idea behind budgeting "cut your expenses and increase your savings". Very simple to say but you need great determination to actually follow a well planned budget.

Budgeting to win...winning here means to maintain a balanced financial status and be successful in saving money. Begin with smaller achievable goals so that you can get motivated. In the following video, the top ten budgeting tips has been very well described and presented. I am sure this will be of great help to many of you.

Please give your valuable comments and suggestions.

Is Recession coming to an end?

Is recession coming to and end? Is economy showing an improvement? Has the employment rate recovered? ... These are some of the most common questions that you will hear these days. Recession is generally described as "a period of economic decline". Lets find out some signs which shows that recession is coming to an end.

* From the economists' point of view, the larger percentage is of the opinion that the recession is over, though it will show slow recovery till the persistence of high debt and unemployment rate.

* The second sign comes from the prediction that home prices are expected to rise in 2010 and will be a big factor for the overall economic growth.

* After the scariest drop in the GDP (gross domestic product - a growth forecasting measuring rate), forecasters are expecting a 3 percent gain in the coming year.

* According to the Reuters, inflation wont be an obstacle for the economic recovery.

Lets hope that these signs are correct and the technical predictions become practical in near future.

Loan Modification Program hits target before schedule:

The Obama administration had launched a program called Making Home Affordable (MHA) few months back, around March 2009, which had shown a bit bumpy start at the beginning. The program was designed so as to reduce foreclosures and help 3 million to 4 million borrowers prevent foreclosure within three years.


According to the reports, it shows that the loan modification plan reached its initial goal of 500,000 trials more than three weeks ahead of schedule. Despite the disappointing launch, the mortgage relief effort by the government has touched its interim target of 500,000 trial loan modifications that was scheduled for November 1. Even thought this is just the beginning, at least we can see a glimpse of hope to ease the foreclosure crisis.

The main objective of the MHA program was to help the struggling homeowners modify their mortgages to prevent foreclosure, and as a consequence revive the housing market. The government tried to do so by reducing the interest rates and prompted the homeowners or the borrowers to refinance their loans. The result shows that the industry is working hard to reach the goal. The 500,000 mark has been praised by the chairman of the Mortgage Bankers Association as “great news for consumers, homeownership and the economy in general". He has also said that MBA is willing to work with the government and provide help particularly to those borrowers who were unable to qualify for the modification program.


Let us hope that the MHA program fulfills their target, reduce the number of foreclosure cases and stabilize the housing market in near future.

Wisconsin has a no down payment mortgage loan program

All home buyers in Wisconsin have a mortgage program available that does not require a down payment. The program is a Rural Housing mortgage loan.


Minimum down payments on other loan programs have made it more difficult for home buyers to qualify for a mortgage loan in Wisconsin. The Rural Housing program allows a true 100 percent financing loan for any home buyer in Wisconsin. You do not have to be a first time home buyer to qualify for this mortgage loan.

One of the most important things to remember about this program, is that it requires the home to be located in a rural area. Wisconsin home buyers are in a better position to qualify for this loan, because the majority of the state is made up rural areas.

Here are additional details of this program:

• This program is called "Rural", because there are certain areas that are not eligible for this program. All of Milwaukee county is NOT eligible, but many areas throughout the entire state of Wisconsin are eligible.
• Lenders are approving loans with credit scores as low as 580. Typically, a 620 is best, but if there are compensating factors to help offset the risk of a credit score below 620, it’s very possible you will be approved.
• There is absolutely no PMI (private mortgage insurance) required with the total mortgage payment. Yes, no PMI, even though you won't need a down payment.
• There are income limits, but they are based on the county the property is located and how many people will live in the property. If you have child care expenses, these can help to reduce your total income and help with staying under the income limits.
• Maximum financing is allowed up to 102% of the appraised value of the home. So, it’s possible all the closing costs can be financed into the loan and not required to be paid out of pocket.
  

It’s very important home buyers take the time to get pre-approved for a mortgage loan, before looking at homes. Especially, if you are looking to buy a home with no money down, because sellers are going to want to work with serious buyers and serious buyer have pre-approval letters.

Learn more about no down payment mortgage loans in Wisconsin, so you understand what is available.