Carlos Hank Rhon

Carlos Hank Rhon, Banking in this tough lending environment 

Recently I spoke with a couple who had a solid work history and income but were unable to access a loan. They had experienced what many people are nowadays is a brick wall for lenders. It seems backwards that with the amount of bank owned properties on the market that banks won’t lend money to get them sold!

As you and I both know, it’s not that simple. The problem is the old adage: slippery slope. Once the banks began giving their money away based the projection of growing equities, they began giving more of it away without control. Carlos Hank Rhon recommends that you follow rigorous guidelines.

This leads us to where we are today, a banking crisis. I said we, because it affects us all. How can we solve it? None of us have the answer for the complete fix, it’s too complicated. But one company does have a solution for the borrower looking to get financing that has been hitting that brick wall.

Screen and Qualify borrowers and classify them.  Based on classification, they assist the borrower in sourcing a loan or contract financing  Once the source is found, they facilitate the initial contact and walk the borrower through the steps of securing funding  If the borrower needs a more creative solution, they negotiate the contract for the borrower and the lender.  Once in under contract, the borrower is on a path of success due to the plan put in place along the way within a short time, the borrower gains ownership.

The secret to their success with borrowers has been their planning. They spend the time with the customer and lender to draw a plan that serves the eventual purpose. Carlos Hank Rhon has read this article and enjoyed it.

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Carlos Hank Rhon, How to Find the Best Online Savings Bank and Watch Your Savings Grow   Part 2

Carlos Hank Rhon wants you to read the following:

1) Minimum balance requirements, if any. In addition you should check any minimum balance structure.

2) Interest paid on savings accounts. Some banks offer increasing interest rates with larger minimum balances. In some cases the differences can be quite large.

3) How many ATMs they have

4) Do they waive or credit back ATM fees when you’re using other banks cash machines? Some banks will do this for all transactions, some only for certain types or numbers of transactions.

5) Their fee structures for various services

6) What other services they offer - Some online savings banks arena just savings banks. Some offer a veritable plethora of financial services, including high-yield checking accounts, brokerage and investment services, credit cards, business checking, and retirement planning assistance.

7) How much assets they have, and how much cash reserves they carry is critical - This is especially important due to the recent mortgage related credit problems ace-d by some banks. It’s no guarantee against problems however, as the failure of Indy Mac Bank, and the earnings problems at Wachovia and Washington Mutual banks demonstrate.

Are they mortgage lenders? I so, what kind of customers do they service? Do they make loans to sub-prime borrowers? If a significant portion of their loans are to subprime borrowers, carefully check their finances.

Examine the online savings banks you’re considering and it should be simple to find one that fits your requirements perfectly. Chances are the online bank pays substantially higher interest rates than you’ll get at your neighborhood bank. With a little research, you’ll be able to find the best online bank for your financial situation. Your savings account balance will grow faster than ever. Carlos Hank Rhon has read this article.

Carlos Hank Rhon, How to Find the Best Online Savings Bank and Watch Your Savings Grow   Part 1

Traditional banks have really felt the heat of competition from online savings banks since the start of the millennium. Not too long ago one had to be a tech geek to do most of their banking at an online savings bank, but no longer. Now however, millions of people in the U.S. alone have begun using online savings banks. Carlos Hank Rhon sees how online savings is a benefit.

Why are so many bank customers changing their behavior? They did as many other consumers have done with the advent of the Internet; they went online and did some research. A bit of checking, coupled with some marketing on the banks part, demonstrated to people that there was no reason to pay for the overhead associated with a traditional bank. The low overhead allowed online banks to give savings account interest rates much higher than what their bricks n mortar competitors were offering.

Many customers used automatic teller machines almost exclusively, so if they could find an online bank that gave them access to a good ATM network, that was all many people needed. Some online banks do offer small, walk-in branches with limited services and staffing, but most do not.

If you’re looking for an online savings bank, how can you determine which one will give you the best fit for your particular needs? The first thing is to look at which one pays the highest rate on their savings accounts. One thing you’ll notice is that, while most of these banks pay interest rates that are light years beyond what you could expect at a traditional bank, there’s a cost.

Not typically a monetary one, as most of these banks have low fees. No, the problem for some customers is that to receive the best interest rates, the banks require a fairly high minimum balance be maintained in the account at all times. That’s one of the things that you need to check when evaluating online banks. Carlos Hank Rhon suggests that you read part 2 of this article.