Print Article for : Automotive Nuts And Bolts

Your Online Guide » Guide to Finance » How To Handle Finances

[A829]Automotive Nuts And Bolts

by Dave Lewis, Dav

Competent Mortgage Brokers

There are a couple of obvious situations where going with a mortgage broker makes perfect sense. If you have less than perfect credit, a mortgage broker is going to be able to open your eyes to numerous loan options a traditional bank would never tell you about. If the idea of handling the mass of paperwork involved in the loan application scares you, a mortgage broker is definitely going to be a savior since they will take on that burden. Still, how do you know if you are talking to a competent broker?

The first issue to address when considering whether to use a mortgage broker is scope. Scope refers to the number of different lenders the mortgage broker works with in home financing. Generally speaking, the more lenders the broker works with, the better mortgage options you will get and, ultimately, the better financing. A good mortgage broker should have at least eight different lenders they work with and be able to go find others should your particular situation call for a special financing package. If the broker identifies only two or three lenders, you need to move on to the next broker.

The second biggest issue is the mortgage broker's knowledge of the lending industry. By knowledge of the industry, the broker should be able to identify multiple lending programs and the various lenders and options for each. For instance, you might ask the broker who he works with and the loan options available for a person with a 580 [poor] credit score. Further, ask the broker if he has arranged funding for such loans before and the specifics of the loans used. If the broker shows a depth of knowledge and starts rattling on about options, you've found the correct broker. If they don't, you haven't.

Broker Fees

Mortgage brokers are paid upon performance. If they don't get you a loan, they don't get paid. The positive aspect of this is you can be the mortgage broker is going to bust their tail coming up with a solution for your problem. The negative aspect is you need to make a determination as to whether the options give to you are good loans for your situation. The commission of a mortgage broker is typically paid out of the loan proceeds, but costs such as appraisals are your responsibility. The broker should have no problem telling you their commission rate on the loan.

If you don't trust banks to give you the best deal or have been turned down by a lender, mortgage brokers are a great way to find good deals. Understand the nuts and bolts of what they do and you are on your way to getting a loan.

In order to make Biodiesel fuel, one of the biggest challenges you'll have will be getting the oil.

Depending on how much oil you need, you need to be prepared to supply your supplier with containers for them to fill.

We supply 55 gal. drums with a hinge welded to the lid so if the lid has water on it when it is opened the water falls off the lid and not into the barrel.

Other options are to simply bolt a handle on the lid so they can lift it and dump the water off or you can even make or buy lids with a hatch built in and a screen underneath that automatically screens the oil as it goes in. If you only need small quantities, you may be able to have the restaurant put it into 5 gal pails or totes so you can simply load them into your vehicle.

Getting restaurants to give you oil just takes a little persistence and a willingness to ask. The best way we have found is to approach independently owned restaurants and ask to speak with the owner. Be sure to do this during their slow times like late afternoon, after the lunch rush and before dinner time.

If you frequent a certain restaurant they would be one of the first ones to approach. After you have a meal, ask for the owner and compliment him or her on their food. Then explain that you would like to pick up their used oil at no charge. In some areas you may even have to pay them for it ...maybe .25 to .50 per gallon.

You also may want to print some cards or fliers on your computer to hand to them. Sometimes it may take several contacts to get it all arranged.

If you do this make sure to use a good headline, and focus the marketing piece around what you are going to do for THEM.

Don't focus your marketing piece around you and what you need. No one cares about that. Make sure it's focused around their wants and needs.

You may even offer to share some portion of your Biodiesel fuel with them!

You may try mailing your flier to several restaurants and get them to call you. We tried phone calling and had limited success. Just keep working at it and you will be able to find a source. You may want to start with small towns where they have to pay to dispose of their oil. We have had very good success in smaller towns, but it does takes more driving time to collect the oil.

If you are willing to work at it and spend some time talking to potential suppliers you will learn the ropes and be able to acquire all the oil you need.

Once you have an oil source you will need some equipment to process it. Our next installment will show you how to set up your processing system.

Article Source : Pg. 250

About Author

Both Dave Lewis & Peter Ryan are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Dave Lewis has sinced written about articles on various topics from Finances, Mortgage Insurance and Mortgage. . Dave Lewis's top article generates over 18100 views. to your Favourites.

Peter Ryan has sinced written about articles on various topics from Finances, Marketing and Auto Insurance. To see a FREE video about how to make go to. Peter Ryan's top article generates over 9900 views. to your Favourites.