January 7

How To Do A Loan Modification


A mortgage calculator is a vital software for any borrower, and plenty of lenders provide one on their website. Utilizing this calculator , you’ll be able to manipulate it to know the total interest you will pay, the monthly payments, the curiosity as a proportion of principal, curiosity paid in regard to whether it’s simple or compounding interest, and other capabilities.

It has a easy user interface where you simply fill in whatever variable you might be utilizing and the calculator will give an answer to what you want, whether or not it is the interest rate, principal or the amount payable over a certain period of time.

The calculator works out an estimate of the amount of your monthly loans funds and the entire annual revenue that’s required so as to have the mortgage calculator calgary ability to repay the mortgage in monthly instalments without plenty of financial strains.

In computing your loan variables (rate of interest, principal and period of time over which the loan needs to be paid); the mortgage calculator assumes that the interest edmonton mortgage resource rate will remain constant in the course of the repayment interval.

The subsequent assumption made by the calculator is that the mortgage will be repaid in month-to-month instalments that are equal through normal mortgage amortization (that’s, normal and extended mortgage compensation).

Attributable to its assumption of fastened rate of interest normal mortgage amortization, the calculator may not display accurate outcomes http://insurance-brokers-calgary.ca if you’re calculating alternate repayments plans comparable to revenue contingent repayment and graduated repayments.

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August 28

Oh that new feeling … the tummy flutters, the palms

Oh that new feeling … the tummy flutters, the palms are sweaty, heart races, constantly checking email. Its the tale tale signs of a new relationship! But how do we keep our wits about us and know for sure that its really calgary insurance broker a love connection and not just the excitement of the possibility of falling in love? All too often we have waited for so long for someone who can make our hearts beat faster that we may overlook obvious signs that this is not going to be healthy! Or we rush head first into the destruction of what could have been a great relationship by moving too fast!
It’s all about keeping things in perspective!
Know yourself, admit to yourself if you fall easily. No one else needs to know but YOU sure do! If you know you tend to fall easily then remind yourself of this. If on the other hand you are finicky and you finally met someone who makes you swoon that is even MORE of a reason to be careful! Just know how you are and who you are and that is a great baseline to begin with.
Remember those cute quirky things he or she does in the beginning can easily become the bane of your existence with them later on! Give yourself time to really decide if these personality quirks are cute or annoying!
Remember a person always puts their best foot forward in dating! Not many people will tell you every fault they have on the first date or even in the first few weeks of dating! A person’s true character comes out over time! When is the insurance broker calgary last time a person you were dating said to you in the first few dates: “Yeah I have a hard time keeping a job because I always spout off at my boss, my parents hate every person I ever dated, I get very abusive when I have more than two drinks, I’m always going to look at the opposite sex in front of you and I hate all living creatures!” LOL okay maybe that was excessive I know BUT you get the idea right? I understand that when a person is TRULY in love many things that otherwise would totally drive you insane are not SO bad or even tolerable and you know what relationships are ALWAYS going to be difficult in some areas and finding someone you can TOLERATE for a life time is a great thing lol not to sound bleak but its true! No matter how perfect two people are together there will always be those small things that annoy each other. So be it but when truly in love the little things just do not matter so much. Take TIME to get to really know a person before you fall for the chemistry!
Chemistry: Oh yes there is that! Sometimes you just meet someone and you feel that BANG BAM BOOM! That is sexual energy people its NOT love! It is very easy to mistake for love though and the whole love at first sight thing – in the TRUE sense – VERY rare!
ENJOY THE RIDE! All too often I see people SO rushed to the alter or at least the commitment they forget that the real honeymoon phase is in the dating and wooing process! Take your time, slow down, remind yourself that once you ARE committed it becomes work and not so much play! Sure some of us want to have kids and be married and have a family life but with all that comes responsibility, commitments to others outside of you two, car loans, combined debts, mortgages, you name it! The ROMANCE is in the wooing and dating and feeling of what’s next! Take time for just you two, find your core as a couple, heck find out if you HAVE a core as a couple or if you are just two people with great chemistry and sexual attraction that happen to be on two totally different wavelengths!
The most common mistake I see with the butterfly effect is when someone feels they are in love and they honestly really do not even KNOW the person! All too often someone will say “I am soooo in love with him / her” yet they can not tell me their middle name, their date of birth, and do not even know their basic character traits to validate I am connected to this person’s energy in a reading! When that happens it is clear to me that they are feeling the butterflies but NOT truly in LOVE but far be it from me to be able to tell them that without them DEMANDING they DO know this person, they FEEL this person’s energy etc. Okay granted we have soul mates yes, and soul mates can connect on an energy level alone which is extremely powerful and overwhelming BUT we have so many soul mates in this world and it is FACT that not all soul mates are MEANT to be together and more often than not our soul mates are not healthy for us and only here to help us learn life lessons! With that said I am not trying to be offensive when I down play the energy connection because I know very well it does exist as this is my area of speciality BUT we have to be realistic here, we live in the human world and it is difficult to transverse the spiritual connection in the human form and takes much time, energy, effort and mostly pain to do so. That energy connection has to be dealt with in a human manner. We have to be logical and reasonable that just because we feel the spiritual energy connection (not to be confused with simple chemistry by the way) does not mean it is going to be best for us to act on it before getting to know this soul mate! It is VERY possible that we may not even LIKE our soul mates! Yup its true!
Relish in the feeling! The butterfly feeling is a wonderful thing and yet at times it can be fleeting for many reasons. We may face rejection, or we may discover we actually are not that connected to this person, or they may be a total jerk or diva lol and that may not be what we really want! But while the feeling lasts ENJOY it! Don’t worry about how far things will go, where it is going, when they will call, if you should call them. Just go with the flow and enjoy yourself but keep a healthy dose of reality on the side at all times! Now I don’t want to confuse reality with being negative or having a glass is half full mentality! You can be positive, optimistic and hopeful but just remind yourself that butterflies happen and sometimes they decide to land gently on your shoulder and stay awhile and other times they can be impossible to even catch!
Butterflies are the beauty of nature and should be admired but respected! They are delicate and have a short life span! Its not the butterflies that really matter but the but the down and dirty, gritty stuff that does! Knowing a person at their core level, knowing their deepest darkest secrets, being able to say you love truly love this person for all their faults and quirks. Taking time to know a person and really having a clear perspective on what it is you are feeling to begin with. If new love is to be compared to the butterfly then long lasting enduring love could be compared to some pretty nasty little insects that I don’t even want to mention but you know what – those insects will be here long after human existence ends and in a true LOVE relationship it is what matters!

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August 22

Loan Modification has become the solution of choice for people

Loan Modification has become the solution of choice for people facing unaffordable mortgages and foreclosure, but as the market for mortgage assistance grows, the number of misinformed homeowners is also rising steadily. A lot calgary insurance of people enter loan modifications with serious misconceptions, and end up making the wrong decisions, based on inaccurate information.

So how do you tell fact from fiction? Can a loan modification really stop foreclosure and solve all your mortgage problems? This guide shows you some of the most common myths about loan modification, and the truth behind them.

Myth #1: You can do it on your own.

Technically, you canbut it takes a lot more work and the results probably won’t be the same. Loss Mitigation is one of a bank’s busiest departments; a typical loss mitigation officer can handle as many as 800 cases at a time.

These people are over whelmed and do not have time to deal with your problem adequately. It’s not uncommon to be passed from one agent to another, and never get any real answers.

A loan modification attorney, on the other hand, can talk directly to your lender, and insurance calgary use significant leverage to get your file to the top of the agents’s stack. When a lawyer represents you, the calls get returned faster, you get more personalized service, and you gain the capability to actually obtain the type of loan you can need.

Myth #2: Your lender would rather foreclose than modify your loan.

In some cases, foreclosure is the more practical option. But according to a Tower Group study, lenders lose substantial money with every foreclosure, and are required to increase their reserves in addition. The banks already own too many foreclosure properties and have too many non-performing loans on their books. They would much prefer to adjust your mortgage to something affordable and convert your loan into a performing asset. Don’t be intimidated by threats of foreclosure.

Myth #3: You can’t stop the foreclosure process.

It’s true that your chances dwindle the longer you wait, but until your home is auctioned off, no one can really kick you out. A loan modification can stop the process as close as seven days before the sale date. This buys you enough time to get back on your feet while your lawyers work out a better arrangement with your lender. Of course, it’s always better if you take steps early on.

Myth #4: It’s an instant solution to mortgage problems.

Loan modifications really work, but they take time, the right expertise, and money. Depending life insurance on how far behind you are, the process can take anywhere from one to three months. But since it stops the foreclosure process, you won’t have to worry about losing your home while the modification is under way. If you submit your paperwork on time and cooperate with your lawyer, you can speed up the process and avoid complications.

Myth #5: You need good credit to qualify.

Standard requirements vary from lender to lender, but the bottom line is that the loan modification should make financial sense to your bank. Your credit rating doesn’t have anything to do with it. Your lender will want proof that falling behind was a temporary snag, and that you can afford to stay on track if they do modify your loan. This means you have to have a job and a valid proof of hardship. You don’t need to disclose your credit rating in most circumstances

Myth #6: Loan Modification companies are scams. Companies take your money, but don’t really do any thing.

In any business there are always some unscrupulous people, but you can find legitimate organizations that will help you. The important idea in loan modification is to work only with an experienced and knowledgeable law firm or attorney who has a track record of success. You should thoroughly check on the background of anyone who claims to be able to do a loan modification before you spend your money.

To get in touch with a good loan modification attorney you may call 800.738.1170 or visit

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August 21

Life creeps up on you sometimes and takes you by

Life creeps up on you sometimes and takes you by surprise. One minute you are running around the mortgage broker edmonton school playground playing ‘tig-you-are-it’ and the next minute you find yourself weighed down with responsibilities; a mortgage, family, serious work commitments

How did this happen so quickly and without you noticing? Is that all there is; life, the universe and everything? Well actually no – because life, as they tell you, is what you make it. So, if you have reached your thirties and already feel that you are in a rut, it is definitely time to take the bull by the horns and guide it to some fun and frivolity.

When you are buying 30th birthday gifts, take into account the way the birthday person may be feeling and really go overboard in finding something really special that will lighten the heart of the responsible 30 year old. Just look at it from their point of view. A 30th birthday is a landmark for many people, indicating a time to start taking life seriously, stop being self-indulgent – if they haven’t done so already. It can be a terrible blow to some people who wake up one morning to find that they are no longer in their 20s with all that that entails. So 30th birthday gifts need to be fun, light hearted, as well as memorable for the recipient

One sure fire way to get them in the birthday mood is to give a personalised bottle of bubbly with your own message on the label as a 30th birthday gift. Make the message quirky and they are bound to smile, watch the edmonton mortgage broker champagne cork shoot across the room and you know that the party has started. Once the celebrations are over, then is the time for the birthday person to get reflective, ask all those questions that we torture ourselves with from time to time like ‘ what have I done with my life?’, ‘where did time go?’ ‘does anyone really care?’ and other such philosophical thoughts. For these occasions a particularly apt 30th birthday gift would be a bottle of 30 year old Armagnac brandy with personalised label, a very grown up way to lift the spirit.

It really shows that you have gone to a lot of thought and trouble to match up 30th birthday gifts to the recipients when you give an Experience Day. All you need to do is think about what the birthday person’s hobby or interest is and you have it nailed. Chocolate is always a winner with the girls (and men for that matter). I can’t imagine anyone who finds chocolate delicious, who would not revel with excitement at the prospect of attending a chocolate making workshop, learning the skills of the chocolatier and actually producing something splendid and edible to boot. As a 30th birthday gift this is ideal, as it says that you are mature enough to handle the responsibility of trying not to stuff your face whilst being creative with chocolate, and on the other hand saying that you are never too grown up to play with chocolate anyway. Give this 30th birthday gift and then put it on your wish list for your own special occasion. Is chocolate not their thing? What are the chances of that? Well, maybe a session in a recording studio can make the recipient feel youthful again. It’s never too late to bring out a hit single these days. Look at the wrinklies that are still going strong in the music biz. A recording studio taster let’s you put a vocal track over some instrumentals, as well as having a go at mixing the sound. How cool is that? Play at being a rock star and kick start the imagination with a dream of the fame and fortune, all created with this coveted 30th birthday gift.

That’s the thing with being 30. You know you are getting older, expected to be more responsible and a well behaved member of society, but you still get that urge to be a little bit wild and crazy every so often. And nobody is going to stop you if you want to do something exhilarating like bungee jumping. What a 30th birthday gift that is. Along with an instructive briefing session, you get to drop 160 feet, attached to an itsy bitsy piece of elastic band. I’m only kidding. This is a real thrill for those of us who enjoy the scary rides at fun fairs, and definitely an ideal 30th birthday gift for someone who would rather forget how old they are.

So whether you are planning to buy 30th birthday gifts for someone wild and spontaneous or a person who is a little more cautious, remember that they all want to be 20 again. Give them the opportunity with well chosen 30th birthday gifts to be as young as they want to be, if only for a day.

To explore our range of 30th Birthday Gifts further, please visit our website at .

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August 18

Do you know what it means to refinance your mortgage?

Do you know what it means to refinance your mortgage? If you don’t, you should not feel ashamed many homeowners do not. Refinancing, however, can save you hundreds or even thousands of dollars over the course of your mortgage term. Refinancing does mortgage brokers edmonton not make sense for everyone, but if you do decide to refinance your mortgage, follow these steps to keep as simple as possible:

Step One: Calculate and prepare for the costs.

Refinancing does not make sense for everyone. Most people refinance to get a lower interest rate and even a single percentage point can save you thousands of dollars over the life of your loan. However, do not forget that you will also have to pay for closing costs again when you refinance. When you originally purchase a home, the closing costs typically range from $2000 to $6000, depending on your area and the cost of the home.

Sometimes the seller chips in to help pay for these expenses. In any case, while you may not have to pay for every fee again (for example, the title transfer fee should not be changed a second time, since you are not transferring the title to anyone), most of edmonton mortgage brokers the changes will apply. This can eat up any gain you see from getting a lower interest rate. In any case, make sure that you are prepared for the costs. If you are not, your only option is to add them to the total mortgage, and that ends up costing you even more money in the end, since you will be paying interest on the closing costs.

Step Two: Look at financial trends.

Because of closing costs, it doesn’t make sense to refinance more than once or twice over the life of a loan, even if your mortgage term is 30 years or more. Therefore you want to refinance when the interest rates hit their lowest. That can be difficult to predict, so do your homework and look at financial trends. Depending on the value of your home, you may want to also seek the advice of a professional.

Step Three: Talk to your mortgage lender.

For most people, it makes sense to stick with the same mortgage lender when refinancing. If you are edmonton mortgage considering this option, talk to your mortgage lender about current promotions and other opportunities, and get a good faith estimate, like you did when you first purchased your house. Also review your current mortgage contract to see if there are any fees or limitations pertaining to refinancing.

Step Four: Consider other mortgage lenders and decide on a lender.

Although it likely is best to stay with your originally mortgage lender, there are cases when you should refinance to move your mortgage to a different lender. Call other mortgage lenders in your area and check out estimates online. Do a thorough search to answer all of your questions and determine which mortgage lender is best on price and other characteristics, such as customer service.

Step Five: Complete the application.

You have to apply to refinance. As long as there are not any limitations with your original contract, you will likely be approved. However if your financial situation has vastly changed, your mortgage lender may not approve the refinance. Remember, you have a contract with your lender. They are not obligated to allow you to refinance.

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August 17

You can receive Free Grant money

You can receive Free Grant money
Government grants are available for almost anybody, which you don’t have to repay back These are money programs that are offered to you by your county and state which you never have to repay
Every year, the government hands out $500 million worth mortgage brokers calgary of free government grants available to people for specific purposes. This can include giving you funds for a college degree to a housing or funds for a small businesses or health grants.
There are over 3,000 government grant programs available which the government has to give away. Why aren’t you claiming your share today? You can also receive a free money too.
How much free money can you receive?
You can receive up to $50 thousand dollars worth of government grants but the amount of money you can receive depends. The government will allocate $500 million people with their personal needs.
Each budget
The government first sees everyone’s grant application, and sees their needs for the funds and then a budget is then made, which leads to a specific amount of money is allocated to each candidate.
How Can you find a government grant?
When you search the government grant database, a good strategy is to search online.
Tips to finding your grant:
Here are some tips to help you search for your very own free calgary mortgage brokers government grant:
Use the internet to search the government grants available to you. When you enter the free money related keywords the search engines take your search words and then find documents and return websites that are related to that keyword you searched for.
When searching for free government money information, you should try to search for a variety of terms related to free government grants, such as applications, free scholarship, housing grants. Fine tune your keywords while using the search and use specific keywords.
It would take long to see all the grants from the government available to you, so the more specific your keywords to narrow your search, the better the results.
By searching you can find information about receiving free grant money for yourself!
Just by spending a little time online doing some research you calgary mortgage could be on the way to receiving a nice check in the mail.

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August 12

Business Credit scoring

Business Credit scoring
Business Credit ratings, from time to time referred to as Niche Credit ratings, could possibly be credit score that could be identified here some kind of business’s identify. Business credit score permits almost any more than worth it organization mind search for your providers of the specific small company credit score bank checking account other than history of credit mortgage broker calgary suited to financial loans frequently many their distinctive credit score other than bank checking account.

Among the list of reasons small company credit score is definitely appropriate could possibly be that can corporations may possibly frequently meet the specs devoid of the personal-guarantee (PG).

That means corporations may possibly know more about cash regarding businesses without necessity regarding distinctive answerability. Yet another goal small company credit score almost always is an practical knowing manual suited to corporations could possibly be there can be zero distinctive credit score find these tips regarding a good amount of likelihood. Hence, probably corporations other than directed credit score could possibly be licensed suitable for quite a few us dollars regarding credit score regarding businesses. To find the flavor small company credit score likelihood this dealership will need to have some sort of self-assured credit score identified thinking about the unique small company credit score businesses. Equally typically used small company credit history benefits improve specific Paydex history of credit by means of Dun other than Brad Prevent with the Intelliscore by means of Experian.

After having a helpful small company credit score formulated, a good amount of manufacturers will in all probability up coming consent to this dealership supervisor suited to credit score from the business’s identify. Significant amounts of considerable manufacturers improve on away small company credit score. However many don’t emphasize their small company credit score computer software procedures, as a result these are actually frequently complicated to have. Significant amounts of manufacturers offering small company credit score incorporate Chevron, Dell, Staples, other than Lowes. Next small company credit score formulated other than paid-as-agreed this dealership credit scores. will in all probability frequently raise.

Due to the fact further very helpful credit score calgary mortgage broker formulated other than getting a remain raise, corporations may possibly frequently develop into known that one could suited to further credit score other than improved credit score limitations. Business credit score almost always is an amazing knowing manual suited to businesses. Firms is certain to get credit score to try to do other than produce their businesses without necessity regarding distinctive answerability of wanting its own self-confidence.

Lots of people whom have the from the start-up’ degree of the organization don’t confirm generating distinctive credit score consequently the approach should make it more challenging take on a mortgage. Many people that are fitted with identified businesses regularly have received cashflow very first although don’t provide equivalent strategies other than require some sort of a whole lot improved mortgage currently. Hence generating small company credit score suited to start-ups other than identified businesses could be the finest action to take.

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August 8

People do require money for every materialistic thing and also

People do require money for every materialistic thing and also to fulfill the basic needs of life but to earn money a person do require money which is called an investment. Investment can be anything. It can be in a form of capital or it can be in a form of education if you wish to earn money in future. But if it is the education which you are investing then for education you also need money. So, the final conceptual conclusion is that to make money, person need money. It is a thought of common sense that in order to earn big amount of money you have to invest a large amount of money. Everybody wishes to be a big wealthy person but not every person have chunk of money to invest so for such big investments people mostly go for loans. Undoubtedly, these loans are of very heavy amounts which do require lots of effort in order to return them and these huge loans are usually mortgage loans which involve a proper contract regarding loans. Mortgage audit is extremely important for these contracts because they may contain such points which might be violating laws of the country and causing trouble in future.
In mortgage audit a person examine the mortgage note which is the contract of mortgage loan before agreeing to it. These documents of mortgage loan are compiled for servicing and for approval of mortgage. In mortgage audit you need to examine every small detail of the agreement which includes the company file of final title, lender file, appraisal, initial applications and all other documents which are related to mortgage loan directly or indirectly.
During mortgage audit the examiner of the documents usually look for those points which might be violating the laws of mortgage that have been settled by the country. The breaching of laws was witnessed in different cases of mortgage in many different countries, especially in European countries like the United Kingdom, because of which examiner of mortgage note became kind of necessary. Once you violate the law of mortgage then it leads to high fines in form of heavy money in future which not only make you lose a good amount of money but it also proves bad for the future of your business.
When you go for a mortgage loan and you do not have good knowledge regarding laws involved with mortgage then it is highly preferred that you consider a professional of laws before reaching to an agreement of loan of mortgage. There are numerous law firms which allow you to hire their law experts for mortgage audit. They are great in their work and they can surely save you from any possible loses that might cause in future due to violation of laws.

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August 6

Getting a credit card these days is certainly a lot

Getting a credit card these days is certainly a lot easier that it was years ago. Today, applying for a credit card is often done through the internet, where a card holder can fill-out and submit his application without even leaving his desk.

Getting an approval is just as easy especially if you have a good to excellent credit. Seconds or minutes after submitting your online application, you can expect to get a response right away. After getting approved, it usually takes only 5-7 banking days to receive your credit card by mail. Even those with bad credit history don’t need to have a difficult time applying for a credit card. Credit card issuers have created bad credit credit cards that are especially designed for customers with less-than-perfect credit. Secured credit cards offer customers the chance to rebuild or repair their damaged credit by using the card and submitting their payments on time. In fact, even those with no credit history at all can qualify for a secured credit card to start building credit.

Apply with Caution Since applying and getting approved for a credit card is so easy, consumers are advised to spend more time in studying their choices. There is literally hundreds of choices of credit cards that are available in the market. But of course, not all credit cards offer a good deal. As a consumer, it is up to you to find the right credit card that suits your lifestyle and needs. Most people are concerned about the interest rate offered by the credit card. Although the interest rate offer plays a major factor in your decision, it should not be the only basis for your choice. Take note that some credit cards offer very low rates but the rest of the fees could be expensive. Aside from the rate of interest, don’t forget to consider the other fees (annual fees, late penalty charge, transaction fees, etc.) associated with your card.

Comparing one credit card to the next could take some of your time but it’s certainly worth the effort. Use the internet so you can compare credit cards with more ease and convenience. Check out credit card review web sites that offer evaluations of different cards and issuers in the market. Know what other card holders have to say about specific credit cards based on their personal experiences.

Take the time to read and understand the Terms and Conditions of each card that you’re considering. Remember that the advertisements do not reveal all information about the card. If you want to find out the real costs and terms of a credit card, you should read the fine print from the first statement down to the last.

Finally, when filling out online credit card applications, make sure that you are in the right web site and that it uses a secured server. A secured site’s URL should always begin with https:// and you should see a locked pad icon at the bottom right corner of your browser. Fill-out your application careful and see to it that all information you’ll provide are true and correct.

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August 6

There are two primary reasons for considering a group form

There are two primary reasons for considering a group form of investing:
First, there’s no minimum investment requirement imposed by the REIT. This means a lone investor can own a small share of a large high-yield property. This offers an individual with limited investment capital the opportunity of getting involved in real estate investing, and enjoy all the benefits of owning real estate-like regular monthly income, and the potential for extraordinary capital appreciation. As well, there is a preferential tax treatment that is unavailable to other types of investments such as mutual funds and mortgage investment companies.
The second reason for joining a larger group is to completely divorce yourself from the task of locating, analyzing, purchasing and managing your real estate investment. The syndicate/REIT does it all for you.
Benefits of an Asset Pool Structure
There are 20 excellent reasons to join a private REIT, and they are all listed in the BlueBook. Here are just a few of them.
Granted there are advantages of outright ownership of rental real estate, many investors still prefer syndicated ownership of properties because they are:
Diversified pools of real estate.
Chosen by acquisition specialists who carefully research and select the right properties, ones with the greatest chance of gain and the least likelihood of loss.
Run by professional asset managers who negotiate the best acquisition or sale price, and whose compensation is dependent upon the performance of the portfolio.
Managed by reliable property managers who continue to maintain the properties and look after the tenants.
Insured against all manner of risk, including insurance that continues to pay the full amount of lost rents in case of fire, or if new zoning does not permit the rebuilding of the same type of property; moreover, the investor has no liability for debt or litigation.
Hedged against interest rate fluctuations. To date, only League purchases hedging instruments that negate the effects of interest rate fluctuations.
Provision of steady monthly income. REIT’s are required to distribute to unit holders all the net income generated from rents and fees collected from the properties.
Extraordinarily tax-efficient. Regardless of the size of your investment, your marginal tax rate, your country of origin, or whether you pay tax as an employee or business owner, as a unit holder you’ll enjoy favoured tax treatment on the income you receive from the REIT.
Liquid. REITs have redemption rights, which-unlike direct real estate ownership-provide liquidity. To allow for this, the REIT sets aside a prudent amount of cash on a period-by-period basis to buy back units if an investor wishes to have them redeemed.
This article is presented by League Assets (www.league.ca). Visit League to get the Blue Book of Real Estate Syndication, a quick read which will teach you what you need to know about REITs.

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August 6

A garage’s primary purpose is to protect and store your

A garage’s primary purpose is to protect and store your vehicle or vehicles. That cannot happen if your garage has become a glorified storage area, overflowing with boxes and toys and tools and bikes and skateboards and scooters and strollers and any other thing that makes it hard to just find a path through the room in the first place. Here are 6 easy steps to help you take control of your garage again.

1. Remove everything from the garage and sort. Categorize all your belongings in the garage by grouping them with like items. For example, kids’ toys with kids’ toys, carpentry tools with carpentry tools, sports equipment with sports equipment, seasonal decorations with seasonal decorations, etc. Identify anything that is broken, outdated or no longer wanted and sell it, donate it, or trash it.

2. Have the proper organizational tools. After you have categorized everything, determine what tools can help you organize these items. For example, do you need to purchase any storage bins, shelving systems, cabinet systems, tool chests, peg boards, hanging ceiling systems, hanging bike racks, etc.

3. Clean. Once your garage is empty it is important to take the time to sweep or mop out all the loose debris, remove cobwebs and layers of dust. You will enjoy your garage more if it is a clean garage so remember to sweep and dust regularly to maintain it.

4. Dcor. Talking about dcor does not mean I am suggesting you go out there and transform your garage into pseudo-living room, but consider if a new coat of paint for the walls make things look cleaner and brighter and cheerier? What about the floor? Many people like to paint and seal the floor of the garage to protect it from spills and make clean up easy. Changing the wall or floor surfaces can have a huge impact on the feel of the garage. If this is something you wish to do, now is the time.

5. Arrange. Once your garage is clean (floor and walls) it’s time to put everything back. It is best to place the items which will be used on a regular basis in easy reach. Place items less frequently used further back in the garage or higher up on shelving systems or within cabinets. Label the outside of bins, drawers and cabinets to spare yourself the hassle of opening each one again and again to find something you may be looking for. Putting labels on shelving or even peg boards can help remind you where things should be put away too.

6. Lastly, make rules and implement them. Rules such as, “Always returns items you used to the place you got them,” should be strictly followed to help maintain the organization of your garage.

These steps will help you achieve a clean and well organized garage in no time at all and just think of the many benefits of being able to not only park your car in your garage to keep it protected from the elements, but being able to know exactly what you have and find it when you want it. Good luck!

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July 31

Working with Mortgage Calculators

Working with Mortgage Calculators
Working with distinct online mortgage calculators is probably the most efficient and easy approaches to confirm the degree of your home finance loan settlement alternatives. A mortgage calculator is a software which allows customers to carry out home loan calculations that would happen to be extremely hard to perform two decades in the past.
Listed here are many of the most popular mortgage calculators on the web:
How Much Can I Borrow Mortgage Calculator. This mortgage calculator will let you confirm your borrowing capabilities. Once you know just how much you can afford based on your regular monthly income and expenditures. Aside from that, this particular mortgage calculator could also enable you to get information regarding the home loan’s terms and monthly costs. After you have the outcomes, you could start looking for the exact property that should supplement your loan in terms of cost.
Lenders Mortgage Insurance Calculator. Usually, banks and lenders enable clients to borrow 80% of a property’s full price. However, there are borrowers who simply ought to borrow above the 80% healthy restriction. Generally, you will find cases when the borrower has to borrow 100% of the home’s full cost. In this case, the financial institution would likely oblige the debtor to pay the Lenders Mortgage Insurance, which serves as the bank’s or loan company’s protection against economic loss. Use this kind of mortgage calculator to confirm the most affordable premium, to understand if you are certified for an LMI discount or waiver.
Basic Repayment Calculator. This mortgage calculator can allow you to simplify your home loan choices by providing you an approximation of your actual home loan payments. These computations are usually centered on the mortgage amount you are asking for, the home loan term, as well as the mortgage loan interest rate. The figures presented by the repayment calculator should not be wrongly diagnosed for a quote, mortgage loan offer or purchase hints.
Advanced Repayment Mortgage Calculator. This is regarded as a very simple mortgage calculator. You will need to use this one if you need to find out how much you will be able to save if you generate standard extra repayments on a monthly basis. You can be in a position to notice the effect of the additional monthly payments on your house loan.
Adjustable vs. Fixed Rate Mortgage Calculator. If picking out a home loan, the first things that pop into your head is whether to select a variable rate of interest or a fixed rate of interest. By utilizing this mortgage calculator, you will get a glance of your expenditures in relation to the movement of interest levels.

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July 31

A home equity release is a pension scheme that helps

A home equity release is a pension scheme that helps you to revert a property by payment through monthly pa. The scheme is basically open to you since it is a long time investment that has been broken down to fit in your income budget. The target of such a scheme is you who can manage to post an even monthly target sum long enough to clear the mortgage. This are lifetime home mortgage plans to help you own a house by the time you retire.

The home equity release is a scheme whereby you mortgage your house to a financial institution or a reversion company for a monthly income. This scheme basically means that you are selling your house for a monthly income. You will be getting the amount agreed for the rest of your life. You can opt to sell part or the whole house to a reversion company. This means that the actual value of your house will determine the value of your premium earnings. The better the house, the better the pay and the more the house appreciates in value the more your pension appreciates.

In the home equity release, it is considerable to note that the older you are the more pension you and your partner get and the younger you are the lesser the pension you get. This is because the company maintains track of your pension routine based on the value of your house and the length in years you are likely to live. For instance if your house is valued at two hundred thousand pounds, the reversion company divides the amount with the difference between your age and the normal mortality age. The value acquired is now the nominal payment you get.

The advantage of home equity release you do not need a security to get a reversion loan. Furthermore, you can revert your property instead of selling it in cash then you lack where to live. All you need to do is to get the ideal company, sign in a deal and start earning. This mode of scheme is good if you inherited property and yet you do not need to sell it out. You can get it reverted and you earn a stable income for the rest of your life. You do not have to be broke all your life just because you cannot get a job. Your property is worth sustaining you for the rest of your life. This mode of income is good because it will keep up your income source as you look for an extra source.

The whole idea of a home equity release is a perfect idea since the financial reversion company will only demand back the value you were given after the property is sold after your death. If it valued for 25% or 50% then it will take back the exact percentage and give the rest to your next of kin. The best part is that the reversion will be done after you and your partner all die.

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July 27

Most people will not realise they have an issue with

Most people will not realise they have an issue with negative equity until they come to sell their homes. At this time they will discover that they owe more money then they originally borrowed from their mortgage lenders.

One reason for having a mortgage with negative equity today was due to home buyers who purchased their homes in the years before the collapse of the housing market. To compound the issue many of these mortgage borrowers bought their homes with little or no deposits. Prior to the recession borrowers were paying a premium for their homes as house prices were rising fast. Mortgage lenders were offering mortgages to just about anyone who wanted a mortgage. It was as if the lenders believed that they had a bottomless pity of money to lend and the mortgage demand would last forever.

To aggravate the issue of paying money off the mortgage most folks who were remortgaging or were first-time buyers seemed to have taken out an interest-only or a 30 to 35 year repayment mortgage. This means that in the first five years of the mortgage they would have paid nothing or very little off the amount they borrowed from their mortgage company.

To make the problem worse mortgages have become harder to obtain for first-time buyers and home owners looking to remortgage. Home lending is at its lowest levels for many years as mortgage lenders don’t have the desire to lend and mortgage rates are at their lowest level. Borrowers have lost their jobs and had their working hours reduced which has caused many people to fall into arrears and have defaults and County Court Judgments’ issued against them for failing to maintain their secured and unsecured loan payments. In many situations homes have been repossessed by lenders.

The banks will not willingly take on a negative equity mortgage, given the problems they have had with sub-prime loans and negative equity. As house prices continue to fall the number of home owners with negative equity could start rising again. Just because a mortgage borrower is in negative equity does not mean that they will default on there mortgage commitment.

For the first ever mortgage lenders have started talking with their existing mortgage borrowers that have fallen into arrears with their mortgage payments in an effort to help them stay in their homes. Some mortgage lenders have reduced their interest rates to make their mortgage payment more affordable for their struggling borrowers. Lenders know that properties are not selling and house prices are still falling and their borrowers are still losing their jobs. It makes sense for lenders to help their mortgage customer to stay in their homes then to repossess their homes and lose yet more money.

Most people will not realise they have an issue with negative equity until they come to sell their homes. At this time they will discover that they owe more money then they originally borrowed from their mortgage lenders.

One method of dealing with a negative equity mortgage would be to do nothing at all. Negative equity is only ever a problem if you are selling your home and for most of us it is not worthy of our concern. However if you are in the unfortunate position of needing to sell your home then you need to consider a realistic price and be prepared to wait for a buyer. Beware that it is a buyers market and buyers are very much in control of the purchase. It might be an idea to rent your property out on a short term rental agreement and rent a house yourself while you wait for the market place to recover.

Rising mortgage interest rates and falling house prices are expected in the near future. The situation is expected to worsen over the short term as higher interest rate impact the recovery of the housing market. Remember negative equity is not a problem unless you need to move and if you don’t need to move it is not an issue.

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July 25

Obtaining a mortgage can be a really difficult process, especially

Obtaining a mortgage can be a really difficult process, especially with the current economic climate being the way that it is. With this in mind there are various tools and services that can help anyone who is looking to buy a home and needs a mortgage. One of these is a mortgage calculator, a tool which can be a great help for anyone who wants an idea of what size of mortgage they could obtain. So how can using a mortgage calculator help you?

A mortgage calculator can initially help anyone who is looking to apply for a mortgage understand how much they could, in theory borrow. When you use a mortgage calculator you will be asked to fill in information relating to how much you and anyone else (if you are applying for joint mortgage) earn and your monthly expenses. Once the relevant sections on the calculator have been filled in you can then get it to calculate how much you could borrow. This will then enable you to see if you can afford the size of mortgage that you were interested in.
Using a mortgage calculator can help you to work out the term of the mortgage that you could apply for. Anyone looking to apply for a mortgage needs to know how long they will be paying their mortgage for. This can be anything from around 10 years all the way up to 40 years or more (although these longer mortgages will only be awarded in certain circumstances). You might even find that after using a mortgage calculator you can opt for a mortgage with a shorter term.
A mortgage calculator can also help you to budget for your new mortgage. If you have an idea of how much you can afford to borrow and what your repayments would be you can then work out if you make your monthly repayments. It can sometimes be easy to overlook certain expenses when you are applying for a mortgage and a mortgage calculator can help you to see the wider picture of your finances.
A mortgage calculator is free to use. This means that you can gain an insight into your possible borrowing options without having to involve a financial advisor. Once you have a better idea after using the calculator you can then decide what you want to do next.

As you can see using a mortgage calculator can be of use in many ways. Not only can they give you an indication of how much money you could potentially borrow you can also start to budget using one. So if you want to find out how much you could potentially get for your mortgage without the expense of seeing a financial advisor a mortgage calculator is a great idea. They are easy to use, they give you an accurate indication of your potential borrowing and you can alter the mortgage term on them as and when you like. In short if you want to get some decent free financial information on your mortgage use a mortgage calculator.

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July 18

As a network marketer, with almost 10 years of financial

As a network marketer, with almost 10 years of financial services experience, I’m often approached by World Financial Group representatives to take a look at their business. And, while I never became a WFG rep myself, I did do quite a bit of research on how they started, what they sell, how what their track record has been. If you’re looking into the World Financial Group business opportunity, don’t join at least, not until you read this review. In this short article review, I will highlight WFG’s background, the various services they market, their pay plan and, whether or not WFG is a scam.

World Financial Group, formerly known as World Marketing Alliance (WMA), is headquartered in Duluth, Georgia and was originally founded by Hubert Humphrey in 1991. Before starting WMA, Humphrey was the #1 Producer for A.L. Williams, now known as Primerica. After Art Williams sold his company to Sandy Weill and The Travelers Group, Humphrey decided it was time to start his own company.

Today, Hubert Humphrey is no longer part of the company and WFG is now a wholly owned subsidiary of Aegon, one of the world’s largest life insurance and pension groups, and a strong provider of investment products. WFG markets various financial services, including life insurance, investments and mortgage products though a multilevel marketing model. Several of World Financial Group’s industry partners include some big names including, Pacific Life, TransAmerica, John Hancock and Hartford Life.

As of this writing, the company has a sales force of 85,000 life insurance licensed representatives, and is doing business in the United States and Canada. It’s rumored that the company recruits close to 10,000 new associates every single month, which is pretty impressive for a financial services-based direct sales company.

To join the company, there is a start-up cost of $100 ($125 in Canada) plus any licensing costs that the state in which you live charges. Give or take, it will probably total anywhere between $500-$1,000 for all your licenses, and about 20-40 hours of licensing time. Unlike other network marketing companies that allow you to make money the minute you join, WFG requires it’s reps to get licensed before they can get paid. And, while this might look like a negative point to some people, keep in mind that because you’re dealing with financial products, you must be licensed. The cool thing is that, once you do get licensed, you can make some big commissions for simply writing sales.

Another aspect of WFG’s compensation plan is that while there is a licensing requirement, and it will take a little longer to train people because you’re dealing with financial products that may get complicated, you only need a handful of producers to make a good income. For example, you can potentially make a multiple six-figure annual income with just 25 active reps.Obviously, you will need to bring in a lot more than 25 people to get 25 people producing, especially because only a small percentage of recruits will get licnesed, and from those that get licensed, only a handful will actually produce. Even still… building 25 producers, who sell 2 or 3 products monthly, is a lot more do-able than building a team of 15,000 to 20,000 reps.

Lastly, there are several other incentives in place including: Contests and trips, a Luxury Car Program, Superbowl Rings and stock incentives you can earn for building a strong business.

With that said, you do have to be aware of all the fees you can incur for building your WFG business. Besides the licensing costs I mentioned earlier, there are costs to do other lines of business, especially if that line of business requires a state license. There’s also E&O Insurance (Malpractice insurance for financial representatives) that will run you close to $100 a month. Also, may be some fee to do business in other states, depending on what products you plan on selling in those states. If you’re serious about building a financial services organization with WFG, then don’t get too caught up with these fees. After all, if you were to start a traditional financial services firm, you would easily pay much, much more than this.

In closing, World Financial Group (WFG) is definitely not a scam. It may not be for everyone, but it is clearly not a scam. If you put in the time and effort, you can actually build a very lucrative business and make a multiple six-figure income a year.With that said, simply joining WFG does not mean you are guaranteed success. The only thing WFG gives you is a chance to build a business.Ultimately, your success will rely on your ability to brand yourself, market and generate more leads than you can get to. It’s extremely vital, if you’re serious, to obtain the knowledge and skills that will allow you to personally sponsor 10-20 reps a month. Without knowing how to generate leads, even though WFG is a great opportunity, you will be dead in the water.

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July 17

The process of qualifying for a home loan modification is

The process of qualifying for a home loan modification is complex and often misunderstood. Often families or individuals who appear to be qualified don’t in fact make the cut, and this can cast doubt in the minds of potential applicants who may feel they don’t stand a chance of gaining any mortgage relief. But there are steps homeowners can take to improve their odds of success when applying. Experts and professionals in the loan modification field offer the following points of advice.
1. Submit everything. Don’t leave out any part of the application or any of the necessary supporting documentation. If your package is incomplete, it will be ignored or worse, rejected outright. Loan modification professionals are inundated with requests and can’t take the time to help you organize your file. Your application needs to be complete when you send it. Depending on your specific situation and the company you’re working with, you’ll need a hardship letter, proof of income, future projected financials, and likely additional documents. Take the time to get it all in order before you submit your application.
2. Get the answers. Don’t be afraid to ask questions if you’re not sure what to submit or what to expect. If you’re a potential client, a loan modification professional won’t mind giving you some advice and pointing you in the right direction. Be thorough and make sure you find out everything you need to before submitting your application package.
3. Communicate. Once your application is in, call or email the office to keep the loan modifier updated on any changes or unique circumstances that may arise. This is crucial. Don’t hesitate to ask about the condition of your application, either. Ensure that all necessary documents have been received. If your application is in order, your loan modification officer won’t mind keeping you up to date, and he or she will greatly appreciate it if you demonstrate the same openness.
4. Stick with it. The loan modification approval process takes time and there are numerous steps involved. The road may seem daunting and frustrating, and homeowners often get discouraged and give up midway through because they feel they are spinning their wheels and getting nowhere. Don’t fall prey to this mindset. If you get everything in order from the beginning, ask questions, communicate well, and, ultimately, stick with it, you’ll greatly improve your odds of success.

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July 17

What is a chattel mortgage?

A chattel mortgage is a popular form of car financing that allows the borrower to take ownership of the car at the commencement of the chattel mortgage. A chattel mortgage is sometimes referred to as a goods mortgage.

What does chattel mean?

Chattel is any article of movable property, but when it comes to chattel mortgages it is most often a car or other vehicle. Business equipment is also commonly financed with a chattel mortgage.

What are the benefits of a chattel mortgage?

A chattel mortgage offers tax benefits for businesses that use the cash accounting method. The interest rate on a chattel mortgage is fixed so you never need to worry about rate rises. A chattel mortgage is flexible you set your deposit, repayment and balloon payments to suit your cashflow. A chattel mortgage can be repaid before the end of the term. Subject to the lenders’ approval, 100% of the purchase price of a car can be financed using a chattel mortgage.

How does a chattel mortgage affect my tax?

If you use the cash accounting method, a chattel mortgage enables you to claim back the GST component. If the car is used for business purposes, interest paid on the chattel mortgage and depreciation can be a tax deduction.

Is a chattel mortgage right for me?

A chattel mortgage may suit you if:

you want to purchase a car primarily for business use your business uses the cash accounting method you are looking for flexible car finance to suit your cashflow.

Do I pay interest on a chattel mortgage?

Yes, the interest rate on a chattel mortgage is fixed, so you know exactly what your repayments will be for the life of the loan.

Can a chattel mortgage have a small or no balloon payment?

The flexibility of a chattel mortgage means you choose whether you want low monthly repayments and a high balloon payment, or higher regular repayments and a low or no balloon payment. This means your chattel mortgage repayments can be tailored to suit your cashflow.

Can I use a chattel mortgage for something other than a new car?

Yes, a chattel mortgage can be used for financing a boat, truck or equipment used primarily for business purposes.

What happens if I miss a repayment on my chattel mortgage?

Because a chattel mortgage is a secured loan, the lender can sell the car to recover the debt. If you are having difficulties making repayments, please contact your lender or 360 Financial as soon as possible to avoid this happening.

How do I apply for a chattel mortgage?

Contact 360 Financial Services or apply online for a chattel mortgage.

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July 5

The IRS sends the CP-14 as an important notification to

The IRS sends the CP-14 as an important notification to the person that an amount is due that is required to be paid back in full in order to avoid consequences with the Internal Revenue Service. Notice 1212 “Automated Telephone Service,” Publication 1 “Your Rights as a Taxpayer,” and Form 2210 “Underpayment of Estimated Tax by Individuals, Estates & Trusts” may be included with IRS Notice CP14 (Balance Due), which itself is a very simple form of your balance owed.

The Key Reason Why the IRS Sends You a CP 14 Remainder Owed

The IRS wants you to understand first and foremost that an IRS Notice CP14 is not a math oversight notification like other sorts of IRS notifications are. Established by your tax return enclosed, the Internal Revenue Service Notice CP-14 is made to show you just how much you owe. In the event you proceed to examine the IRS notice, you’re going to see the debt owed by you and the tax credits that have been applied towards your account.

Corrective Actions Pertaining to IRS Notice CP-14

The very first thing you should do to stop corrective measures from the IRS should be to review the list of repayments the IRS placed on the information as outlined on IRS Notice CP-14. If you’re lucky, this particular CP 14 Balance Due notice may simply be the outcome associated with incorrectly applied payment made by you to the Internal Revenue Service. If you do your analysis and find out how the IRS is at fault, it will grow to be your responsibility to demonstrate the IRS faulty and provide evidence of the repayment you paid for the IRS. Help to make the mistakes in CP-14 apparent to the IRS, and they will get rid of, or lessen, many penalties and interest caused because of the under-payment from the tax debt.

It can be crucial to evaluate your files and see that the information included on IRS Form CP 14 is accurate, if it is, it is best to pay off the amount owed by the day outlined on the notification. If you don’t pay the amount the IRS mandates of you on CP 14, you can expect the IRS to adopt the “non-passive” technique and get money from your very own salary or bank account by force, along with various other punitive measures.

Learn How to Contest CP14 Balance Outstanding

You will have to discuss the exact quantity you must pay back to the IRS if you do not think the amount of taxes owed the IRS states you owe in CP 14 is accurate. It could be hard to prove why you do not accept the amount due towards the IRS without quality tax advice working for you or enough records to deliver your position.

Below are frequently occurring factors and explanations for why the amount listed in Notice CP 14 from the IRS is incorrect.

Lost Payment: You will have received IRS Notice CP14 in the mail mainly because of missing a monthly payment. Do not be scared to let the IRS learn that you definitely settled so they can get started looking for the transaction. After a little checking if the IRS cannot locate information that you paid the IRS, they may ask you to look over the specifics printed out on the backside of most checks. The IRS will document that information and halt any collection efforts while looking. If the payment you made to the IRS can’t be found anywhere in the IRS account records, you’ll be requested to give hard proof such as a copy of the check used to pay .

More Details about IRS Notice CP 14

Usually, IRS Notice CP-14 issues are normally settled easily. Just how triumphant you are regarding IRS Notice CP 14 will depend on your knowledge of the IRS’ elaborate regulations. If you feel like you don’t even know where to get started, you might need to get in touch with a tax debt expert. You do not have to do business with a tax professional, but if you do, only work with organizations you have meticulously researched to make sure you receive the highest quality of service obtainable.

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July 5

Regardless of the business in which you are involved, ensuring

Regardless of the business in which you are involved, ensuring that you have access to new customers is essential. While traditional methods such as radio, print and television advertising, as well as direct mail marketing can offer benefits, these benefits can be marginal, at best. This is especially apparent when you observe the actual return on investment provided by these formats; often, the inherent costs of these methods far outweigh any benefits you might reap.

What methodologies provide the best ROI and ensure that you have access to a continually growing customer base? How do you ensure continued profitability within your industry? Purchasing leads within your vertical market offers you access to the customers you need and the assurance of profitability through immediate conversion.

Every lead we offer is screened for conversion probability, level of need and much more. This offers you surety of profits and the engendering of a beneficial relationship. In addition, it provides you with a means of continued financial growth and stability through the attainment of new customers. New customers are the lifeblood of any industry let our specialized team help ensure that you have the strength and investment return needed to attain success in the modern world.

We stand as your partner in generating the new business you require to ensure continued financial wellbeing. Our expert team specializes in lead generation, as well as in ensuring that all leads offer the highest potential for conversion within your business. Through a combination of affiliate-owned websites and target-specific websites, we are able to generate a continuous flow of new leads, new customers and cash flow for your enterprise.

Your profitability and the ROI offered through these verified leads are our overriding concerns. If you demand revolutionary lead generation and acquisition, your quest is ended.

The Benefit of Mortgage Leads

The home mortgage has become a staple of the modern world. Few families or individuals can afford to purchase a home with cash, making mortgage loans some of the most commonly sought financial instruments in the world. In addition to new homes, mortgage refinancing and home equity loans are also increasingly common. Let our accurate mortgage leads illustrate the enormous potential inherent in this form of lending.

Mortgage loans can be sought for numerous reasons. Perhaps the consumer is concerned because a variable rate loan is about to change. Perhaps they are concerned about their growing family having sufficient room within their existing home. Regardless, our prescreened mortgage leads offer you veracity and accuracy, giving you the opportunity to answer the questions of these consumers, win their trust and begin building a relationship that ends in a profitable conversion for you.

Auto Loan Leads Offer Profitability

Much like the modern home, automobile costs have skyrocketed, making auto financing the primary means by which consumers attain the vehicles they require for their lifestyle. Many consumers have sufficient understanding to realize that they have options available other than simply relying on financing through an auto dealership, while other consumers are concerned with purchasing a vehicle from a private individual and require the financing to do so.

In every scenario, our leads ensure that you have access to consumers in immediate need of this financial tool, in order to make an automobile purchase. Through accurate auto loan leads, you are able to increase your profitability tremendously and ensure continued financial success, while helping consumers attain the vehicle they deem necessary.

Payday Leads Ensure the Best ROI

Due to rising debt-to-income ratios, unexpected emergencies and cash shortfalls, numerous consumers find themselves in dire need of a payday loan. These short-term lending solutions act as a life preserver, allowing families to attain needed medical attention, pay for needed repairs on their homes, their vehicles and more. As the pitfalls of the credit industry become more pronounced, a large number of consumers are turning to these loans to satisfy their needs.

Our payday leads help ensure that you have access to this growing trend, as well as that you are able to provide consumers with the information required to determine if this lending platform is ideal for their needs.

Our websites ensure that the customer’s mind is at ease by answering their myriad questions concerning this form of lending. Each lead we provide you has been screened for authenticity and viability, ensuring you are able to provide the needed monies to consumers, as well as engendering the best cash flow for your business. In short, payday leads offer benefits to both consumers and lenders.

Insurance Leads Are Powerful Tools

Increasingly, insurance is a necessity. Auto insurance is now mandated by law throughout the US and most other nations. Home insurance is also a requirement if the home is not owned outright. However, even homeowners with a clear title still find the need for the security provided through an insurance policy. Let our insurance leads help you attain the new customers required to engender better profitability and development.

Insurance offers security, stability and peace of mind. The simple fact that the consumer knows they have a helping hand when the adversities of life strike can reduce anxiety by a considerable amount. Each of our insurance leads is screened for veracity, the likelihood of conversion and other vital elements. This ensures that you are able to provide customers with essential access to insurance of all types, while simultaneously providing you with assurance of continued financial growth, prosperity and an increasing ROI.

Debt Consolidation Leads Offer Mutual Benefits

Debt is an unfortunate result of our modern credit society. Almost all major purchases are based on credit in some fashion today. However, the obvious side effect of this is a propensity for the development of large debt loads that frequently exceed the capability of consumers to repay. When this occurs, debt consolidation offers hope and security. Each of our debt consolidation leads is prescreened and vetted, in order to ensure that you have access to interested consumers, who need immediate insurance.

Consumers in need of debt settlement have an overwhelming need to ensure their continued financial solvency. However, with increasing creditor harassment and mounting debts, as well as increasing interest fees, this can seem an impossible task. We match you with verified debt consolidation leads, enabling you to come to the aid of these debt-laden consumers. Your help in alleviating their financial burden is imperative. These consumers require your assistance in finding answers to their pressing financial questions; this ensures that you are able to build a mutually beneficial relationship with consumers in urgent need of your assistance.

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June 29

Faith is powerful. Powerful enough to cure the inflicted, powerful

Faith is powerful. Powerful enough to cure the inflicted, powerful enough to manifest something new and wonderful. Yet, many people are finding it difficult to “keep the faith” due to the current economic challenges that are very real and often serious. How do we keep believing that there can be some thing better when things seem to be so bad?
My husbands timber frame business was thriving prior to the economic crash but for the past two years it has barely stayed afloat. Over twenty employees got laid off, doors closed, and unemployment was our only resolution. And for two years, my husband went to work faithfully every day with trust in his heart that something good would happen. Imagine going to work for two years, feeling like you are in a ghost town, not getting paid and continuing to believe in something better!
Many times we used visualization to “call in money” and the universe always seemed to listen. Day by day we squeaked by, but we continued to find the diamonds among the coals. “Eat ground meat instead of steak. Drink water instead of juice.”
I began to find pennies resting on the ground and every time I picked them up I thanked the universe for listening and for answering my prayers. Pennies soon turned into dimes. I began finding dollar bills that had been tucked away in pockets. Sometimes there was a stack of bills with fives and tens. Special offers, refunds and a then lower mortgage payment all kept us floating along. We continued to be grateful for the support we received even though our credit card debts were escalating. We continued to keep the faith and focused on coming through the other side, productive and thriving. Life went on, I published my first book and I too continued to work, often without pay.
“Focus on the outcome, see what you want to have happen, trust that it is already yours, trust in good intention and kindness, feel it in your heart and set it free.” Remember to breathe. Remember to be humble. Remember that one thing always leads to another. Remember to accept the gifts. Keep the faith.”
The jobs are starting to come in and my books sales are increasing. Although we are not yet swimming along, we both trust that we are moving in the right direction. Success is the only option and we continue to believe with all of our heart that things are fine and the universe will continue to provide us with what we need. We know it is just a matter of time before our finances return to a healthy state of being. We trust that things continue to get better and we remain focused on success and financial freedom once again.
There are many fringe benefits to living in this way such as having a healthy immune system, getting a good nights sleep and feeling happy. These are always better than their alternative.
We each have this choice. Thoughts are very powerful. Thoughts do create things. All of the money in the universe is out there and it wants to be given a good purpose for being. Remain focused on the benefits that you are proving for the world and trust that the money wants to support your good cause! When we live with gratitude in our heart with good intentions, the universe does listen!

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June 27

If you’d like to reaffirm your personal liability for a

If you’d like to reaffirm your personal liability for a secured debt even after a discharge from Chapter 7 bankruptcy, a reaffirmation agreement is what you need to sign with the lender. Reaffirmation agreement is usually executed for secured debts such as mortgage, car loan, RV loan etc.
What is the reaffirmation agreement?
Reaffirmation of debt is a voluntary agreement on the part of the debtor to keep paying his mortgage or other secured debts even after receiving a discharge order in Chapter 7 bankruptcy.
The Reaffirmation agreement is not required by the Federal or State laws or the US Bankruptcy Code. By signing the agreement, the debtor becomes legally obligated to pay the portion of the debt for which he has received a discharge under Chapter 7 bankruptcy.
When to file the agreement?
Reaffirmation agreement should be filed prior to the date of discharge of debts so that it can be enforced. The time period for filing the agreement is limited to 60 days after Section 341 Meeting of the debtor with his creditors in the presence of the court, the trustee and bankruptcy attorney.
The Reaffirmation Agreement must be approved by the bankruptcy court or it should be signed by a declaration of the debtor’s attorney. Otherwise, it will not be considered as valid. The agreement should include details of your income and expenses and a signed statement where you admit that you can afford the payments under Reaffirmation.
Can mortgage lender foreclose even if I reaffirm?
When you reaffirm mortgage, it implies that you’ve agreed to pay off mortgage dues even after you’ve received a discharge from bankruptcy. As long as you catch up the dues and do not fall behind, the lender will not initiate a foreclosure.
What if I fail to make payments under reaffirmation?
If you fail to pay off the mortgage after you’ve reaffirmed, the lender can obtain a judgment against you in order to place a lien on your assets or garnish your wages. Moreover, you won’t be able to discharge the debt you’ve reaffirmed. This is because you cannot file Chapter 7 bankruptcy in the next 8 years.
Can I cancel the agreement?
You can cancel the reaffirmation agreement within 60 days after it is filed at the bankruptcy court. It should be canceled prior to the discharge order being issued. You need to inform the mortgage lender about your decision to cancel the agreement. Once you withdraw from reaffirmation, the lender should return you any payments you’ve made so far under the agreement.
It’s good to reaffirm your mortgage as it has a positive impact on your credit score. This is because reaffirmation allows you to pay off any unpaid mortgage balance and fulfill your obligation. However, make sure you can afford the payments before you sign on a reaffirmation agreement or else chances are that you may lose your home in foreclosure.

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June 19

For San Diego County Residents – Do You Need to

For San Diego County Residents – Do You Need to Worry About an Earthquake Destroying Your Home or Business?

by Ronald Reitz, CPPA, President of Quality Claims Management

If you live in California, the US Geological Survey has said that Southern California will most likely be hit with a big earthquake within the next 30 years. They said that there is a 99% chance that we’ll experience a quake with a magnitude of at least 6.7. They also said there is 46% chance that we will have a 7.5 magnitude quake – or bigger.

So what does that mean for San Diego County residents? Even though the “big one” is supposed to have an epicenter somewhere in Southern California, most San Diego residents are not highly at risk. Well, at least compared to Orange County and Los Angeles (LA) residents. One indicator is earthquake insurance rates. In San Diego versus LA, the average premium cost in San Diego is only $251 per year compared to Los Angeles and Orange Counties which is $693 per year.

According to a recent San Diego Union Tribune article, a ‘Big One’ in California would not be like the recent big quake in Chile. Because California’s seismic plate tectonics differ from Chile’s, our region is not subject to the large magnitude quakes that they experience down there. In California the plates slide sideways while in Chile they slide under each other. Additionally the crust is a lot thinner here than in Chile. Because of those two factors, seismologists predict a maximum 8.1 quake at the worst for Southern California.

The San Andreas Fault, which extends from the Salton Sea to the town of Parkfield in Monterrey County, provides the greatest seismic threat. Luckily though, the Salton Sea area is a long distance away from most San Diego residents. In addition, the San Andreas Fault is inland and would not result in a tsunami, which caused much of the recent damage in Chile. There are several off shore faults near San Diego but they are very small and do not present much risk.

If a big jolt did indeed hit the San Andreas Fault near the Salton Sea, San Diego City residents would definitely feel it, but most likely would not experience catastrophic damage or casualties. Despite that, we do have a few smaller local faults that have the potential to generate a pretty big jolt. The most worrisome San Diego County faults are the Rose Canyon Fault on the east side of Pacific Beach and La Jolla. A little further south and inland, the La Nacion Fault runs through South San Diego, Chula Vista and National City. In the East County mountains and deserts, you need to be aware of the Elsinore, Aqua Caliente and San Jacinto Fault Zones.

So, depending on where you live, there is varying danger of fault movement and earthquake shaking. If you live close to a known fault, you should be aware of the possibility of a large jolt damaging your property. However, there are two other risk factors as well, they are landslide and liquefaction. During an earthquake, especially after wet weather, the violent earth shaking may trigger a landslide. However, of more importance is what your home or business is built upon.

Many San Diego homes and businesses are built on sand or on fill and are vulnerable to what is known as soil liquefaction. During a quake these kinds of soils can act like jello, amplifying a quake’s movement more than a home built on rock or settled land. Because of liquefaction, a home that is close to a earthquake epicenter that is built on rock may experience less shaking and damage than a home that is much further away that is built on sand or fill.

How can you find out what is under your home and what danger is neighborhood is in?

Here is a good map to give an idea of real world danger if you live in San Diego County. This map combines liquefaction areas with known fault zones.

Another great online resource to check out your specific neighborhood is this SANGIS interactive map to find fault lines, landslide and liquefaction zones in your San Diego community

It’s a little complicated to find the dangers in your San Diego neighborhood. Start by clicking on the “custom map” button. On the right side scroll down and then click on Faults. Next click on Geologic Hazards. That will activate those map layers. Then hit Refresh at bottom of page on the right side.

Now is the fun part. Finding your neighborhood. Using the PAN and ZOOM IN controls, navigate around the map and zoom in to find your neighborhood and its geologic hazards for fault zones, liquefaction and landslides. You can zoom in to your specific block to get an idea of the earthquake related threats around your home or business.

If you are clear of all those, you probably don’t need Earthquake Insurance as much as someone whose home is in a liquefaction zone adjacent to an earthquake fault.

If you want more info about earthquakes, check out the US Geological Service. A good place to begin is at

Finally, the California Geological Survey just released these great Earthquake Danger maps – and the interactive map at

This map below is very informative. If you live in San Diego, you may want to cancel your earthquake insurance policy

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June 18

Spend a few moments glancing at the websites of any

Spend a few moments glancing at the websites of any of the major international news services – it is little wonder that so many of my clients have been emailing me to tell me just how difficult it is to stay positive at present. And these are people that I’ve been working with for some time – sometimes for years – they should know better. Actually, they do know better – but with so much bad news around, they’re finding that it takes less effort to simply follow the herd and slip into the same weird and “wonderful” world that most so-called normal people are drowning in at present. They’re finding the going really difficult. So, I’m sure, are people who are scared that they’ll lose their jobs or homes – even more so those who already have.
What is the “power of positive thinking” going to do for you if not only are you finding the going difficult but all the signs point to the going actually being difficult? Positive thinking won’t pay the mortgage if you’ve just lost your job, will it? Positive thinking, in the face of downright adversity, will possibly make matters even worse – because when you think “positive” and lots of “negatives” happen, how are you going to feel? Even worse.
We need to put a stop to the growing mass hysteria that firstly created and is now fuelling global economic depression. At the outset it was hysterical greed. At this stage worry and fear are taking greed’s place. In the face of all this, you need to get back to basics. As a client said to me last week “What’s happening at present is causing people to think again – to rethink what’s important to them”. What’s important to you? Is it your car, your designer clothes, your house, your holidays, your holiday home, your golf club? By the way, over the years, I’ve heard plenty of people admit that, without ever thinking about it, these actually were the things that had become important to them! However, when they explore the “meaning of life” just a little deeper, it becomes blindingly obvious that these things are not important (they’re simply nice to have) – the important stuff is just a little more basic.
So, if you want to get back to basics, here are a couple of quick ideas.
First of all, you actually need to define “happiness and success” for yourself. I often suggest that my clients define their own unique version of success based on the following broad proposition: I love what I do, I’m good at it, I get well rewarded for it and it makes a positive difference in the lives of those I touch. I have plenty of balance in my life to do the things that turn me on. I’ve great personal relationships and I’m happy with me. If that broad proposition doesn’t describe your position in life at present, then read on!
Secondly, you must realise that your happiness will only be found within – where else would you expect to find it? There’s no point in seeking happiness in external things or, indeed, other people – they can all vanish so easily. And, of course, if you’re not happy with yourself, then you cannot be happy – nor can you be of any use in trying to create happiness for others. You need to accept yourself – the third idea, below, might help with this.
Thirdly, you need to dismantle your self-perceptions. Your perceived faults, failings and even your strengths will inevitably get in the way of your happiness – because they are not real, they are just perceptions that were impressed upon you when you were “young and impressionable”. Indeed, years of psychological work proves that our perceptions mask our innate ability to achieve our hearts’ desires.
In other words, getting back to basics, start with getting back to the basics of you, who you really are and of what you’re really capable. This can only be done in the quiet of your own heart. How? Try taking one step back from the frenzy of everyday modern life – whether that’s going for a long walk, taking a whole day out on your own and doing very little or, perhaps the best way of re-acquainting yourself with the inner you, meditating. All great journeys start with a better knowledge of who you really are.

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June 18

While home with the flu this past year, I had

While home with the flu this past year, I had the rare occasion to play couch potato. Momentarily sapped of my energy, I subjected myself to hours of daytime television, slipping in and out of consciousness as I endured chills and body aches. At one point, I awoke to Oprah and a show dedicated to common people struggling with the recession. One after another, audience members confessed their unique tale of woe. At one point, a church minister and his wife spent a few minutes complaining how they always do the right things, stay faithful, pray, dedicate themselves to community service, but now because of the recession “we’ve lost everything.”
My immediate reaction was: you haven’t lost everything, but you sure as heck lost a golden opportunity to provide something valuable to the discussion.
Of course, if they had taken my cue and tried to put a positive spin on things, they wouldn’t have been asked to be on the show. The theme was misery. It’s a common theme on television these days. It sells. It’s something people can relate to. And to hear the misery from a person of God must have been a boon to the misery business. After suffering through their testimonial, I changed the channel to cartoons and drifted back to sleep. But days later, the sad image of the minister and his distraught and sobbing wife pouring their heart out on Oprah still visited me.
And the absurdity of their messagewe lost everythingcontinued to bother me. Months removed from the flu and the Misery episode on Oprah, I’ve decided to re-write the script for that episode. But before I share my revised script, let’s look at a few facts.
The minister and his wife who claim to have lost everything were wearing clothes. They did not appear to be malnourished. And I assume they did not have a permanent home in Oprah’s recording studio, so I think it’s safe to assume they had a roof over their head and some mode of transportation to get them to Chicago for the taping of the show.
But beyond the material possessions, here’s a few other things they hadn’t lost: their eyesight, their marriage, their ability to walk, their freedom to vote and express themselves, the power of their mind, their ability to set goals, their soul. To name just a few.
I realize “we lost everything” is not to be taken literally. It’s a metaphor. It relates primarily to possessions, jobs, and money. I get it.
Nevertheless, the message communicated by the minister was clear: we always did the right thing and God let us down. And that message has nothing to do with the truth. With all due respect, a minister ought to know better.
You see, most people are focused on the facts, and not the truth. There’s a difference. You’ll find lots of facts on the news: unemployment is now at 10.1%. The price of gas increased last month by twelve cents a gallon. The Dow Jones Industrial average was down 112 points on Friday. And so on.
What people fail to recognize is the facts always change. This current economic downturn was both predictable and necessary. The world is changing and so are the facts. But the truth never changes. And no matter what is going on in the outside world, no matter what your bank statement indicates, you have infinite potential. The potential doesn’t disappear when the money does. That’s the truth.
With his golden opportunity on Oprah, the minister chose to fully participate in the Pity Party. And he had lots of company. I don’t watch much television and I rarely watch Oprah, but I know she features empowering and positive topics as well. So let’s imagine for a minute that the minister’s testimony was entirely different on that episode. Here’s my idea for a revised script and a hypothetical interview:
Oprah- Next we’ll hear from a minister who’s been challenged by the economic downturn and has recently lost his job, was forced to file bankruptcy, and is about to have his mortgage foreclosed. My first question to you, why are still smiling?
Minister- Because I’m thrilled that my financial setbacks have turned out to be a blessing.
Oprah- How’s that?
Minister- Well, I’ve preached to a small congregation for twenty years and now because of my money situation I’m on Oprah with an opportunity to share something of great value to millions. It’s all a matter of perception.
Oprah- I see. So what message would you share with the millions of others who’ve lost employment or who are struggling financially despite always working hard, being faithful to God, and doing the right thing?
Minister- Well, first of all, struggle is a good thing. It strengthens us, it gives us an opportunity to grow and get to know ourselves better, and it provides all sorts of opportunities to serve one another. Secondly, we need to avoid the tendency to equate our richness with our current financial statements. You are rich right now and there are vast reservoirs of rich thoughts and possibilities in your magnificent imagination. And the third point is: we all need to get into harmony with the Law of Cause and Effect.
Oprah- What do you mean by that, get into harmony?
Minister- Well, the Law of Cause and Effect is one of the Spiritual Laws of the Universe. It’s been expressed many ways, such as “as ye sow, so shall ye reap,” and ” energy returns to its source of origination.” That’s a spiritual and a scientific way of viewing this law. And the mistake many people make is expecting an immediate reciprocation for their good deeds. But when it doesn’t happen that way, they become disillusioned; they wrongly conclude their good deed was for not. They always do the right thing, they pray, the serve their community, and then something bad happens to them and they get angry with God. They become resentful. They reason they didn’t deserve such a fate. That, in turn, causes disharmony with the Law.
Oprah- So how would you suggest a person gets into harmony with the Law of Cause and Effect?
Minister- The most critical part of the understanding of this law can be summed up in one sentence. There’s a season to sow and there’s a season to reap, and they don’t take place in the same season.
Oprah- Hmm. Interesting. So when is the season to sow?
Minister- That’s the biggest takeaway point of this whole thing. The season to sow never ends. No matter what’s going on outside, no matter how the economy is performing, the sowing season goes on and on. The season to sow is every living, breathing moment you and I have an opportunity to extend a kindness, a smile, a service, a compliment, a portion of our excellence to another human being. And if you will endeavor to stay in harmony with this law, your harvest will be rich. The economy might be a challenge right now, but that will change. I can always get another job. I can always find another home. I can always build the bank account back up. But I won’t always have today. This is my only chance to make today count. What I’m doing right now on the Oprah Winfrey show is the only thing that matters, because NOW is the only time I have. I can’t undo things from the past and I can’t act in the future. If I’m spending today complaining about what I don’t have, I am not sowing good seeds. The most important thing I can do is sow some good seeds today. Take my focus off my temporary lack of money and give all my attention to my richness. Have gratitude for everything and be resentful of nothing. Someone else in my shoes might wrongly conclude: I’ve lost everything. The truth is: I have an endless number of things to be grateful for. Gratitude is the essence of what keeps me attached to my one source: God. And I’m not going to allow the facts to interfere with the truth. That’s being in harmony with the Law.
End of sermon. Fade to black.
Be sure to send Oprah my contact info.

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June 18

One of you wants out, or maybe both of

One of you wants out, or maybe both of you. The disappointment, rage, anger or fear you may be feeling is understandable but it isn’t going to help you. It is easy to give in to the “dark side” and veg out in front of the TV, feeling sorry for yourself while you eat half a gallon of ice cream. We have all been there at one time or another. That is not our higher self at our best!!! So what are your options at this point?
If this divorce is not your idea, you may be tempted to find the worst snake (divorce lawyer) in the phone book and just go for the jugular. The problem with that option is, I guarantee that you will end up broke, stressed, furious at your ex, your lawyer, the judge and everyone else involved in the process and if you have children together, THEY are the ones who will get caught in the crossfire while the two of you go at it in court. Nothing is more unsatisfying than some judge telling you what to do when you know the result is not fair. The only way to avoid this scenario is to work together in mediation.
Most people are not familiar with divorce mediation. They don’t know what the difference is between mediation and arbitration so let me explain it to you. Arbitration is like an informal court. Each side usually has lawyers who argue their case in front of someone who acts like a judge. That person will make a decision that may or may not be binding on the parties, depending on whether or not they are doing binding arbitration. Some stranger ends up telling you what to do. Mediation is completely different. No one tells you what to do. The two of you will decide what works best for your situation. I believe that the best mediators for divorcing couples are divorce lawyers who primarily, if not exclusively, do nothing but divorce mediation. An experienced divorce lawyer has heard all the stories, has seen what happens in court for most common situations and has a good idea of what the judge would do. They can let the couple know what the laws are and guide them through this complicated process but do it in a way that helps them find a solution instead of dragging out the case so they can line their own pockets.
You have already heard the awful stories about divorce court, divorce lawyers and unfair results. Chances are you or someone very close to you was the child of a divorce, so you know the high emotional price children pay when their parents are fighting. People who have children MUST cooperate with each other for the sake of the children. This is YOUR divorce not theirs. When parents are so consumed with their own pain and disappointment, it is hard for them to see what their children are going through. Now is the time for parents to agree to be fair and honest with each other. There is no honor in hiding assets or pretending you earn less than you do in order to lower support. If the person paying support feels like the other parent can’t be trusted to spend the money only on what the children need, then they can make arrangements to pay the rent or mortgage payment directly. They can be responsible for paying all the utility, food, cable tv, kid’s clothing costs or other payments that directly affect the children. There is no reason to be cheap with each other. The children are the ones who are going to suffer.
It doesn’t matter whose idea the divorce is. There is no point in blaming the one who wants out. You can’t make someone love you and you can’t stop a divorce. Would you curse the sky because you can’t fly? Would you try to fight gravity? Well this is the same thing. There is no point in making things worse by fighting what IS. Once you stop struggling and accept the inevitable, you actually feel more at peace. So here is the choice, are you going to lawyer up and fight or are you going to be smart and work together? You can split a pie in half so that each side gets more or give the lawyers their cut too. You know you will get more if you cut the lawyers out of the deal. This is why mediation is such a smart option. You can get all the legal information you need from the mediator. Tell them you want to know if you are following the law and what the court would probably do. You can deviate from the norm if you want to, it is your choice. The terms of your divorce will fit you better if the two of you fashioned them instead of a one size fits all solution imposed by the court.
You live your life out of your intention. What kind of divorce are you going to have? Will it be nasty and expensive where the two of you will both suffer while the lawyers get rich or will you play it cool, calm and collected and take care of business while keeping your head? The more emotional and irrational you are, the harder it will be for you to keep your eye on the prize which is either getting the best deal for yourself or doing what is in the best interest of the kids. One of those should be everyone’s goal. You can only have a peaceful divorce through cooperation. Cooperation will only happen in mediation. Going to court is an emotional and financial death sentence. So the choice is yours. You can get a divorce without killing each other in the process if you do mediation. Litigation is a knife fight. Choose.
Source: Searchwarp.com

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June 14

Bad credit ratings are supposed to play havoc with the

Bad credit ratings are supposed to play havoc with the chances of securing approval on a mortgage application, but it is possible to get a home loan mortgage with bad credit. Having a bad credit history is no longer the end of the world when seeking large loans. The right lender is always willing to take the risk.

The fact is that bad credit is not the indication of risk that it once was, with honest borrowers suffering in the economic crises of recent years. And with the growing influence of online lenders as known experts in lending to bad credit borrowers, getting approval with poor credit history is not likely to be too difficult anyway.

There are always compromises to be made, of course, but these can be affordable. Interest rates on a home loan are typically higher than those charged normally, but they are also almost always lower than those charged by traditional mortgage providers.

What Criteria Are Required?

Satisfying the basic criteria is essential first if there is to be any chance of getting a home loan mortgage with bad credit. Of course, the specific criteria themselves are no surprise at all, relating to age, citizenship and employment status. These are simple to prove.

Essentially, all loan applicants must be over the age of 18, while only US citizens and legal long-term residents are entitled to apply. Full-time employment, as well as an income sufficient to ensure repayments are made, are also essential. When these aspects are confirmed, then the task of seeking approval with poor credit history can begin.

That stage of the application process has its own set of issues, not least the debt-to-income ratio that the applicant has, which dictates the affordability of the home loan. The only way in which bad credit scores play a part is in the interest rate to be charged.

The Importance of Debt-to-Income Ratio

While credit scores can have a minor effect on the affordability of a loan, of far greater significance is the debt-to-income ratio the applicant has. Securing home loan mortgages with bad credit is dependent on proving repayments can be made comfortably, and the ratio establishes that as either fact or wishful thinking.

The ratio measures the income earned each month against the total monthly expenditure. Set at 40:60, it allows no more than 40% of income to be committed to repaying loans, so getting approval with poor credit history is heavily dependent on staying within that limit.

Lenders are very strict about the ratio, so if the home loan repayments cannot fit within the 40% limit, then they will reject the application. The size of an income is irrelevant if existing debt is too high, so clearing some of that debt with a small consolidation loan is the best way around that problem.

Use a Large Down Payment

A key part to any property deal is the down payment made, but its importance extends far beyond the role of just sealing the deal. It also reduces the size of the required mortgage, thus lowering the debt. Getting a home loan mortgage with bad credit is greatly helped by a providing a larger down payment.

For example, a 10% payment on a $200,000 property means a mortgage of $180,000 is needed, but a 20% down payments lowers the sum to $160,000, and approval with poor credit history is easier to secure on the smaller sum.

Remember too that with a lower principal borrowed comes a lower monthly repayment. And with every savings made, the better off the borrower is. After all, over 30 years, saving just $50 each month on home loan repayments means a total savings of $18,000 over the lifetime of the mortgage.

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June 4

There is a lot of hype going around these days

There is a lot of hype going around these days about the Beachbody coaching opportunity. “It’s just another pyramid scheme” or “It’s a scam” are some of the comments that are being thrown around. If those comments are based on facts, then that’s fine.
But I like information based on knowledge of the subject instead of just comments made by the type of people that are always negative no matter what the topic. We all know people like that, don’t we? I was looking into this as a business opportunity and I didn’t want rumors and hearsay to be what I based my decision on, so I set about finding out all about Beachbody, their products and the coaching business that they offered.
I was approached about the Beachbody Coaching Opportunity last year. I’ve always been a health and fitness oriented of person and I’ve been doing the Beachbody P90X workout for years now. I had been a mortgage broker in Texas up until a few years ago and I was looking for another business opportunity that was more in line with my interest, such as in the fitness industry. Having done P90X, I was familiar with Beachbody, but I had no idea about the Coaching Opportunity, so I had an open mind and I was definitely interested. I’m not one to jump into a business situation without all the facts and details so I set about to do some research and find out everything I could about this new venture that I was considering. Some of the easier to find facts about the company were of interest to me. One was the fact that Beachbody has achieved an A+ rating with the better business bureau. Beachbody has been around over ten years now and is now the number one infomercial retailer in the nation. They also hold the number two and number three spots with P90X, Insanity and Turbo Fire respectively. So far, I’m not finding any information pointing to a scam or pyramid scheme, but I wasn’t through digging into this just yet.
I began to speak to customers and customers that had become coaches and had bought and used the products, and also, I wanted to find out about Beachbody’s customer service. Beachbody offers a 30 day no questions ask guarantee on all their products and I wanted to find out if they honor that guarantee. Everyone I spoke with had nothing but good things to say about Beachbody customer service. Returns are rare and are apparently extremely low by industry standards. One of the sure signs of a scam is reluctance to honor a refund policy and I could only find positive comments about Beachbody customer service. That accounts for the A+ better business rating, but now I was looking to find out more about the actual coaching opportunity itself.
Beachbody pays a commission of 15 to 25 percent on the products that the coaches sell. Now, having been in business myself, I can tell you that after you pay for your own overhead and marketing, 15 to 25 percent is difficult to achieve for a small business. And Beachbody pays all the marketing cost for the benefit of the coaches in the company, actually giving or assigning customers who have called in from the infomercials on TV. No other company that I’m aware of advertises their products at their own cost and then allows someone else to share in the profit. For Beachbody the benefit is to have coaches who will contact new customers, keep them motivated and make additional products available and to educate those who are now to working out and may have questions about the products. I view this as not a scam but good marketing and a win for Beachbody a win for the coach and a win for the customer. I have to admit that I wasn’t even considering this to be a scam anymore. Beachbody has put together a unique marketing structure and it works.
Now on to the question that everybody wants to ask. Do Beachbody coaches make money? Yes they do. Can you get rich overnight? Absolutely not. The truth is that this is a business. It’s your business and if you want to succeed, then you have to treat it as a business and work hard at it. I have talked to a great many Beachbody coaches. I’ve talked with some who have replaced their 9 to 5 jobs and incomes in only a couple of years. A great many are making an extra six of seven hundred dollars a month as just a part-time income and from my conversations with those people, those incomes continue to grow. I’ve also spoken with people who are making two and three hundred thousand dollars a year and a few who are making over a million dollars a year. Due to legal issues, Beachbody does not like for its coaches to make income claims in their marketing, but everyone I spoke with has, off the record told me that the incomes of the coaches are growing and growing quickly. Next I ask some of the leaders in Beachbody a question that concerned me and that is about saturation. At what point will the market become so saturated with coaches that the coaching opportunity will be crushed from its own weight. The numbers I got from Beachbody were somewhat reassuring. Currently there are 50,000 coaches in the USA and none in any other countries. Projections over the next five years are for a need of one million coaches and expansion into other countries. If those numbers are accurate and the expansion to other countries is successful, then at least for the near and medium term, saturation is still a long way off.
I looked at the Beachbody opportunity from every direction and could not find a hint of a scam or a scheme of any kind. It’s a solid business opportunity and it’s backed by a solid company with well-known, reputable products all backed by a guarantee. The cost to get started as a coach is only about $40 dollars and even that is guaranteed and refundable.
So it’s not a scam and it’s not a pyramid scheme. The truth about Beachbody Coaching is that it’s a solid, viable business opportunity. I looked into it, found it to be exactly as it was presented to be and I chose to become a Beachbody coach based on my research. I started as I would with any business, with hard work and very little money coming in at first. Now, I still work it as a business, I’m making more than I was as a mortgage broker and one of the side benefits is that I stay in great shape and my health is excellent. Beachbody Coaching may not be for everybody, but it’s definitely not a scam or a pyramid scheme.
I have more information on Beachbody Coaching at my website:
If you’re considering this or any business opportunity, find out the truth before you invest your money or your time.

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June 2

Life insurance sales training & cold call training is essential

Life insurance sales training & cold call training is essential in the insurance industry, yet so many new insurance agents are “struggling” to make sales in their formative years as new agents.

How do I know this?

I’ve been a sales coach for the last 3 years and most of my clients who come to me for coaching were insurance agents, mortgage brokers, financial advisors and network marketers, among almost every other industry you could think of at some time or another.

Among some of the more abstract industries for cold calling coaching, I’ve even trained army recruiters, who cold called parents to sign their under 21 year old child to the armed forces, a funeral pre-burial service for humans (and pets, believe it or not) and many others.

My point is, I know cold calling and what is required for life insurance sales training to be effective. What many sales trainers teach are often fairly “high-pressure” techniques (I know, I’ve seen the new agents sales scripts). My first advice is to throw out the scripts, and from there we work on the mindset first and foremost, and we stay in alignment with low-pressure, no force, philosophies when selling, which is truly the way to win new business.

Once we get the mindset right, we can then begin on wording and making calls, but first we need to role play the specific scenario’s for who the industry that the agents will be calling on.

This is often where many hiccups occur, the poor new agent is so “Hyped Up” from their initial training, they have “no hope” of making a sale the old way without exerting pressure and losing trust, and while they might make sales, their going to feel uncomortable, pressure their clients and run the risk of losing them at a later date.

Actually, most of the time I get asked the question… “How do I get my foot in the door, so I’m in front of a new prospect? I’m right once I can sit down with them and I normally get the sale.”

But they often blow it before they can get to sit down and have a chat, so that’s where a new low-pressure approach fits in and helps melt away the pressure and “open doors” on that first cold call.

Normal life insurance sales training won’t cover this angle of sales for new agents, becuase the mindset you learn is so very different.

My recommendation is to be yourself, take the hype out, and just have a conversation like you’re talking to a friend.

That alone will be worth thousands to you, because in the long term when it comes down to you and the mirror, you need to get results for “yourself” first and foremost, and by getting to the truth of where the client is at, will certainly help you open sales, if not now, down the track.

Try it and let me know how you go, I’m sure it will help you and that’s speaking from my first hand experience as a qualified life insurance sales training coach, specialising in cold calling. Seeing many people go through a “transformation” and unwinding from a “high-pressure” hypey outlook to a one of relaxed, calm and trusting.

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May 30

Listen for your Call to Adventure

Listen for your Call to Adventure
In a story, it’s the moment when the hero or heroine is invited on a quest or journey, when the day-to-day routine of their ordinary life is interrupted by something disruptive, exciting, unsettling, different… It could be the hobbit, hearing a sudden knock at the door from a wizard, or Dorothy in The Wizard of Oz when the tornado strikes…
Whether your call to adventure is a subtle sense of “is this all there is” in your life, a feeling that creeps up on you by surprise when you wake up in the morning, a longing to express your full potential in your life and work more completely, or whether it’s something dramatic, like an unexpected redundancy, relationship breakup or significant life change , the invitation is there to expand, grow, create something exciting and new in your life and work..
Whether or not you choose to follow your own call to adventure (and some you should and some you shouldn’t, only you can tell for sure), in order to create the most expansive and exciting results, you need to be prepared. When you chose your dream goal for 2010, you need to be poised for action in order to take full advantage of your opportunities.
If you were planning to climb a mountain or run a marathon in January, what would you need to be doing now? You would need to embark on a systematic training programme to energise yourself, become as physically fit and healthy as possible, eliminate any energy drains that might prevent you from moving forward.
And that’s what I’m inviting you to do today….
With the remaining 12 weeks of 2009, here is your challenge (and I hope you choose to accept it!):
1. What do you need to do to become physically fit and energised before next year? Now is the time to start! Whether it’s going for a 30 minute run round the park on these lovely autumn mornings, starting work with a personal trainer, embarking on a programme to lose that last 10 pounds, now is the time to do it!
Chart your goals and break them down week by week to get you at your most energised and glowing best by the end of the year. What is your plan for this week? And next? How will you know you’ve achieved it?
2. Look at your physical environment, where you live and work, and consider what drains your energy…Does your house need a fresh coat of paint or new carpets? How would your front door feel to come home to if it was painted a vibrant violet rather than black? Have you decluttered your wardrobe recently and filled it with clothes that make you feel great? What about your personal filing system? You get the picture!
3. Consider your health and emotional balance… What negative habits of thought do you need to break? Have you got a habit which isn’t helping your energy, whether it’s an addiction to gummi bears or cigarettes or wine? What is the quality of your sleep and wellbeing? What changes do you need to make to create ideal energised balance?
4. Think about your finances. Do you have any financial loose ends which need to be resolved, whether it’s sorting out your taxes, switching mortgages, starting a savings plan, planning your financial goals?
5. What about your relationships? Do they bring you joy or bring you down? What can you do to make positive changes? And what does that mean doing this week?
By focusing steadily on these areas over the next 12 weeks, you’ll be able to really follow your call to adventure in 2010, start your journey with the best possible chance of success.

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May 25

A reverse mortgage is a loan that allows senior homeowners

A reverse mortgage is a loan that allows senior homeowners to convert a portion of their home equity into cash. Unlike conventional mortgage loans, which require borrowers to make monthly payments to their lender, these loans actually pay the borrower. Borrowers are not expected to repay their loan until they decide to sell their home, pass away, or stop using the home as their primary residence. These loans were essentially designed to help seniors pay off their existing mortgage balance and enjoy financial security during retirement.
Reverse Mortgage for Seniors: Exactly How These Loans Work
To qualify for a senior reverse mortgage, consumers must be at least 62 years of age, own an approved property, and have little or no remaining mortgage balance. Approved properties include single family homes and two to four until residences, as well as manufactured homes and condominiums built after 1976. To get a reverse mortgage for seniors, a borrower’s home must also meet the minimum property standard set by FHA. If a home needs certain repairs, the funds necessary to complete these repairs will be taken from the borrower’s loan proceeds. This means that cosmetic and structural damage to one’s home will not necessarily disqualify the individual from getting a senior reverse mortgage.
Individuals interested in getting a reverse mortgage for seniors must also attend one HUD-approved counseling session. During this session, potential borrowers will discuss the benefits and disadvantages of getting a loan with an approved financial counselor. After completing counseling, seniors will submit their application and counseling certificate to their lender.
Upon approving the application, the lender will determine how much the borrower is eligible to receive. Reverse mortgage payouts are based on a borrower’s age, interest rate, property value, and equity. Before getting a reverse mortgage for seniors, borrowers must also decide how they wish to receive their loan proceeds. Borrowers can choose to receive their money in one lump sum, a line of credit, monthly payments, or a combination of these options.
Is a Senior Reverse Mortgage a Good Idea?
One of the greatest benefits of reverse mortgages is that they let borrowers defer payment until they are no longer occupying their home as their primary residence. At this time, the home will usually be sold to repay the loan balance. Because federally-insured reverse mortgages, or HECMs, are non-recourse loans, borrowers cannot owe their lender more than their home is worth. This means that seniors can live in their home throughout retirement without worrying about mortgage payments and possibly enjoying extra cash.
Still, many people wonder if these loans are a good idea. Before getting a reverse mortgage for seniors borrowers are urged to consider all of their different options. One’s home equity is a significant asset, and the decision to get a reverse mortgage is not one to be taken lightly. To protect this asset, seniors should avoid borrowing against their equity until absolutely necessary. However, for seniors who are struggling to make their mortgage payments, need money for large medical bills, or do not have enough cash to afford their daily expenses, a reverse mortgage can be a hugely beneficial financial tool.

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May 24

With all the satellite websites, find a satellite TV provider

With all the satellite websites, find a satellite TV provider cheap can take a long time. Here you will find that I have done the work for you. Read this article to find out who has the best deals on satellite television.
Just a few years ago there was no such thing as a cheap satellite TV. A decent system cost $ 2000 to $ 10,000 for a satellite dish and the set of electronic boxes that came with it. Not only that, it costs hundreds of dollars to have a large dish satellite TV system installed.

So when it comes to finding a cheap TV system, you’re in luck. They are not just economic, they are free.

Satellite TV Systems

This is what you get when you subscribe to either DISH Network or DIRECTV is a satellite television service:

* Free satellite TV antenna and mounting foot.
* Up to four satellite TV receivers for free and universal remote controls.
* Free professional installation of your system in up to four rooms of your home.
* Free DVR (digital video recording) receivers so you can record your favorite programs.
* HDTV satellite TV receivers (optional) for receiving high definition.

Note: DISH Network and DIRECTV offer gifts as a bonus free DVD player and home theater system when you order your service. Click the links below to see the latest deals.

Cheap Satellite TV Service

When it comes to satellite television service, you can pay anywhere from $ 31.99 a month for 60 channels of programming, at a maximum of $ 93.99 per month for 215 channels.

Both DISH Network or DIRECTV’s satellite TV service includes the following:

* More than 225 program channels with digital quality picture and sound.
* Up to 500 commercial-free movies per month.
* DVR (digital video recording) so you can bypass the ads and save your favorites * HD (high definition) programming.
* Up to 60 pay-per-view programs per day.
* Your local channels of digital picture and sound.
* Commercial-free music channels all with digital sound.
* Toll-free and online 24 / 7 customer service.

Note: DISH Network and DIRECTV offer special introductory programming of new types of customers. Click on the links below for current offers.


Getting the cheapest price for satellite TV depends on whether you want the cheapest service, or you want the cheapest price per channel.

DISH Network is the satellite television service cheaper. Your starter package – America’s Top Sixty – gives you 60 channels of satellite TV programming, including local channels for $ 31.99 per month.

DIRECTV Total Choice package of programs offered by the cheapest price per channel at $ 0.31 per channel ($ 41.99 135 channels). In addition to 135 program channels, you also get your local channels and 31 music channels.

If television is their main form of entertainment you want and a wide variety of shows, movies, sports and news … if you’re tired of fuzzy reception and want digital-quality picture and sound … if the cable is starting to bill for equal pay on your mortgage – I think you will find satellite TV is a real bargain.

Check the best offer i found on Satellite Tv This is a limited offer, Act now!

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May 23

There are many scandals developing in UK especially in financial

There are many scandals developing in UK especially in financial sector. These scandals include financial issues, pension problems and recently the mis selling of mortgage. People are afraid to lose their property because of mis selling of mortgage. This kind of case was first observed in 2009 where the mortgage rates were gradual at the start but they became high afterwards. This has made the payment of mortgage very difficult. If you are also suffering from mis sold mortgage and do not have any idea how to claim for Mis sold mortgage compensation then following are few tips:
Now the first thing to keep in mind is that the mortgage broker’ always advice you which is in his own interest. He sold your mortgage as per his own benefits so never buy what he is selling you. But if you have become a victim of mis selling of mortgage then you should claim it. The government of United Kingdom has been looking at these cases and has set up the Financial Services Compensation Scheme, commonly known as FSCS. It is solely formed for the compensation in a case where the firm or the company is unable to give off or pay back whatever is claimed against it. However there are many cases which are developed due to the negligence of the lender. Let us suppose that the mortgage broker has made terms after the retirement age. So beware of the negligent brokers. It is an important piece of advice that whenever you are told that you have been mis sold in the mortgage then don’t hold back and reclaim your compensation as quickly as possible. On this case, time is money. If three years have been passed since you know that you were mis sold then you have a good chance for reclamation. There are many policies which remain useful till six years for reclamation. The mis sold mortgage compensation has its own time limit. But if you have surpassed the time limit then it is still favorable to reclaim your mis sold mortgage. After getting to know when to apply for mis sold mortgage compensation, it is preferable to tell the organization that deals with the mis sold mortgage compensation. The preferred organization is the Financial Services Compensation Scheme.
But if it in your case the company no longer exists on which you are about to file a complaint. Do not worry you can still contact Financial Services Compensation Scheme which is also able to compensate your mis sold mortgage.
There are many companies that will try to take your case and asks you to pay them off, do not get fooled by them as they are another scams. Mis sold mortgage compensation should only be informed at the governmental scheme.

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May 21

There are literally millions of credit cards in the world

There are literally millions of credit cards in the world today and even with the current credit crunch, the numbers of cards being issued is still on the increase, so the ramifications for the credit card industry are immense and for them at least, difficult to comprehend.

During the good times, credit card companies issued cards under the guidelines of the Consumer Credit Act 1974. However, in their greed to attract even greater numbers of customers each month, they forgot to ensure that their consumer credit agreements they issued to customers were legal and above reproach. This situation changed in April 2008 with the creation of new rules and regulations that fully covered every lending institution that issued a consumer credit agreement.

However (and this is the good part), there are literally millions of potentially flawed agreements in existence that mean you, the consumer, can wipe out your total credit card debt in an instant, legally and ethically/

The other thing to consider is that legal loophole applies to all unsecured debt such as personal loans, car finance, mortgages and PPI. They all have to abide by the Consumer Credit Act (CCA) 1974 and if they do not, then they could be left open to all of their customers making a claim against the vaibility of their credit agreement.

This is the hottest topic in the financial services industry at the moment as credit card companies frantically look to avoid claims and the potential for huge losses. They are full aware of this situation and are bracing themselves for the fall out as this dwarfs anything we have seen from the ‘reclaim your bank charges’ scneario that has been on the news for the last 12 months.

The process itself is simple to administer if you know how and if you have the right Barrister contacts. The Barrister in question must have an understanding of the legal process and the ensuing legal complexities of wiping out credit card debt. But remember, it is happening now and hundreds of thousands of people have started to wipe out their debts and ensure that they can start living a debt free life once again.

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May 19

Irrespective of whether you are buying a home for the

Irrespective of whether you are buying a home for the first time or you’re interested in refinancing your existing home mortgage to get a better contract, the best way to get the best deal possible is to have a good all around knowledge of loan refinancing or home mortgages before you talk with any mortgage lenders.
Refinancing your home mortgage is a involved process and will always necessitate some professional services no matter what you do. Your best bet is to find an attorney that has a first-class reputation and is familiar with real estate law.
In today’s world of mortgage brokers and lending institutions, if you do not have a general knowledge of how the mortgage systems work you may possibly end up paying thousands of dollars more than you need to. Doing your homework and researching mortgage offers will help you avoid most of the bad mortgage advice out there. Just the thought of buying a home can cause anxiety in some people. For many people, it is the fear of the unknown that brings this about. One of the unknowns is usually based on not knowing what types of questions the lenders may ask of you during the finance application process.
The business of home mortgages and loan refinancing can be down right confusing mainly when faced with interest rates, what type of house mortgage is best…should I go with a fixed rate or should I check out adjustable rate mortgage (arm). Do I need mortgage insurance? And the list goes on and on. The banking jargon used by mortgage experts will seem like an alien language to you if you aren’t to some extent familiar with the terms.
Whether you are a new home buyer or you are just looking to refinance your mortgage loan to get a better interest rate, you can save yourself a lot of money by learning the banking language. This will give you an edge by knowing the terms that lenders and mortgage companies use.
By all means, the worst thing you can do is get hooked into the wrong type of mortgage that will not meet your expectations and your desired goals for the future or risk losing the roof over your head because you can’t make the high payments.
Before you sign on the dotted line, know what you’re signing and the consequences of your home mortgages contract. Many people when they visit a financial lender just assume that mortgage lenders will give them the best deals on their new home mortgage or refinancing terms that will be in their best interest…that’s not always the case. You need to be get informed so that you can talk intelligently when sitting at their desk. Find yourself a good mortgage broker or real estate attorney or take the responsibility yourself and get informed!
Here is the definition of a home mortgage…
“A mortgage contract is a binding a legal contract between a buyer and a mortgage lender that states you are using your assets as collateral security to the lender based on the money you borrow from the mortgage lender. Upon signature, the lender will hold the title deed of the property until after you pay all the money that you owed plus interest.
Should you not be able to make your mortgage payments, the lender has the right to sell the property”.
So…whether or not you are a first time house buyer, have already purchase a house and you are thinking about re-financing, seeking an equity loan, or even a reverse mortgage – there are a lot of thing to consider… as an example – do you choose fixed rate, variable rate, adjustable rate – or interest only.
Mortgage interest rates and fees that are involved with any mortgage can all vary between mortgage lenders. You need to be familiar with the jargon and put it to good use. By getting informed and doing your homework, you can save yourself a ton of money over the course of your mortgage loan.

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May 19

In the recent years, Automobile sector has yielded several technologies

In the recent years, Automobile sector has yielded several technologies that accomplish the need of consumers in every perspective. These technologies also keep an eye on the environmental factors for the fact that vehicles are a major contributor of pollution. Invention of new technologies never reached its end and in the consecutive years 2010 & 2011, newly designed auto model arrived in the market that uplifts digital systems. Apart from Digital systems, these cars address vehicle safety, sophisticated motor body, and telematics and embedded infotainment.
Any new technology invented comes under three divisions where technology continues to focus for betterment. They are Performance, Design, & Vehicle Safety. Here most famous inventions implemented and practiced in modern cars are discussed
1. Latest Performance based Inventions:
Fuel cell vehicle is one of the emerging technologies that are pollution free. It provides power to the engine by producing electricity from the reaction of hydrogen present in the cells. Their working resembles to internal combustion engines and it is twice efficient than it. Computer chips play a major role in achieving powered drive and helps in functioning instruments such as Sensors and automatic car locking microprocessors. Wireless phone and Internet Connection that incorporates WAP has been introduced as a part of modern cars recently. Hybrid Cars is successful in the market and it saves fossil fuel. Being economical, Hybrid cars are also well known for durability and longevity. Modern cars use emission control system to monitor and adjust works besides driving. There is a catalytic converter provided to clean the exhaust by burning up unused fuel and chemicals. It is supported by oxygen sensors that indicate that there is enough oxygen for the catalyst to work.
2. Latest Design based Inventions:
Visual appearance is essential besides smart technology used inside the car. Latest model cars concentrate on its design not just for advertisement but also to attract the younger generation. Compared to anterior model, Latest cars are designed based on many factors like accessories such as MP3 players, iPod, USB and Bluetooth function, accurate positioning dashboards, built in quality stereo systems, Seats & seat belts, and a furnished extraordinary car interior.
3. Latest Safety based Invention:
Black Box technology General Motors researched the implementation of Black box which is primarily used in flights for recording an accident. As General motors’ have already tested taping information on speed, distance and locations covered, using Black Box in cars won’t be a matter of concern. This technology though discovered is still under progression for the fact that it collects the private information where in flight it is seriously needed to understand and rectify the actual cause for the accident. But in Cars it is optional. In modern cars, safety is ensured by airbags that swells up immediately when met with an accident saving driver and passengers from smashing. Power brakes give the power to stop vehicle at any speed.
What once considered being an imagination is now a reality. Technology is steadily rising in its successful path and it reached miles away in a decade with the advent of flying cars which will be soon in the market once after approval.

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May 11

a few Ideas For Get A Loan Modification Authorized!

a few Ideas For Get A Loan Modification Authorized!
Real estate crisis continues to develop a extremely sluggish recovery. This indicates homeowners are nonetheless desperate for some type of monetary assist. Numerous have missed mortgage payments or are in danger of performing so. The reality for numerous is if they do not get a loan modification they’ll ultimately lose their house to foreclosure.
Millions of homeowners have applied and have been approved for a mortgage modification. Sadly, millions of other people have applied and have been denied.
Most of the time this occurs simply because the homeowner produced little errors that led to them becoming denied. Do not let that scare you! You are able to improve your probabilities of obtaining approved by not generating exactly the same errors as other people.
In this write-up, we’re going to provide you with five suggestions to obtain a mortgage loan modification approved.
Tip #1
Be sure you Have All of the Needed Documentation.
The application for a home loan modification demands which you state why you can’t make your present payment. You’ll also need to offer documented proof. It’s so essential. Usually the documents you’ll require consist of:
Recent paycheck stubs
Spending budget strategy worksheet
Hardship Letter
Extra documents on costs and income and so on
Your representative ought to offer you having a checklist of documents required. Failure to offer even 1 piece of documentation can get your loan denied. So take the time to check and check once more to ensure you’ve every thing requested of you.
Tip # two
Make Normal Follow-ups Together with your Mortgage Representative
You are able to assist move your application along and have a much better opportunity for modification approval by merely keeping in touch using the representative handling your application. Ask if they require anything else from you. It is simple to have overlooked some thing. Ask if you have missed anything and if so, let them know you’ll make certain they’ve whatever is missing as soon as feasible. Also your attention to particulars lets a lender know which you are seriously attempting to remedy your scenario. Do not be afraid to be persistent.
Tip # three
If Your Scenario Modifications Let Your Lender Know
If whenever you applied for modification, you had been unemployed then became employed later whilst the application is nonetheless under evaluation let your lender know asap.
Keep in mind, the documentation you originally supplied was according to your monetary scenario in the time. Now which you are operating you will have to make adjustments to your documentation.
Tip # four
Honesty Will be the Greatest Policy
When somebody is faced using the possibility of losing their house, desperation sets in rapidly. Some homeowners in an effort to ensure they’re approved “inflate” their monetary scenario. For instance, claiming much less earnings than they really make and which includes “extra expenses” to create every thing “appear” on the up and up.
This can be a truly poor concept. Your lender will determine the actual scenario and you are application will probably be denied. It’s usually greatest to be honest about your scenario. Supply actual documentation. Consist of all sources of income. The factor to bear in mind is…your lender would rather function with you to maintain you inside your house. Financially, it is a win win scenario for you each. Maintain it honest and as accurate as feasible.
Tip # five
Think about Hiring A Mortgage Modification Service
The application procedure could be grueling. There’s so a lot documentation needed and also the procedure of itself is time consuming. You will find mortgage modification services that will take on most of the actions for you. You’ll nonetheless need to offer the correct documentation but they are able to cope with your lender on your behalf. Experts in loan modification are also as much as date on any modifications in process and also the law with regards to applying.
You are able to Do It!
Collect your paperwork and get began using the application procedure. The suggestions supplied can assist you to remain on the proper track and maintain you involved within the procedure. Yes it is a great deal to take in and absorb, but within the finish you’re giving your self a fighting opportunity to save your house.
Loan Modification is really a viable method to assist you to out financially so you are able to make your mortgage payments there isn’t any have to really feel embarrassed. It’ll take time and effort on your component. But in the event you can remain focused and follow the suggestions to obtain a mortgage modification approved that we’ve given you here…You are able to do it!
To learn more about mortgage loan modifications, just visit:mortgage modification

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May 10

Azerbaijan technically known as the Republic of Azerbaijan is amongst

Azerbaijan technically known as the Republic of Azerbaijan is amongst the six individual Turkic states inside Eurasia’s Caucasus area. The country sits at the crossroads of Western Asia as well as Eastern Europe. Azerbaijan is actually bounded by the Azerbaijan to the northern part, Caspian Sea in the eastern side, Georgia along the north west, Iran to the south and additionally Armenia in the west.

Property around Azerbaijan has recently enhanced tremendously during the past several years. Buying and selling of Azerbaijan properties has increased substantially and buildings are sold as well as obtained with respect to recognized, personal and also commercial intentions. There are many different types of properties accessible throughout the nation and then Azerbaijan rental accommodations also are making fantastic progress.

A whole lot is been accomplished for development of all of the real estate property within Azerbaijan. A fabulous project known as AzRealty occurred a while back. The principle goal of the undertaking had been to satisfy the supply and demand via the realty markets of the nation. During 2005 approximately $1.62 billion dollars was indeed approved regarding construction uses. The amount was in fact raised to nine hundred million dollars during January-April session. This specific sum is actually nine point four percent over that which was allowed the previous year. Along with elevated and prompt construction of complexes and houses, the capacity in Azerbaijan real estate seems to have enhanced.

Azerbaijan property laws and regulations and also acquisition of property in the nation is also quite easy. If you look at Azerbaijan real-estate postings, you will recognize that acreage costs are low-cost and making an investment in lands is the ideal type of financial commitment which might be generated in today’s time in Azerbaijan. Typically the most popular technique of getting funds for the purpose of investing in a real estate property or perhaps purchase of land is actually by means of Mortgage. If the customer needs some time to investigate the property, he’ll be able to get it done; and also to help out Azerbaijan real estate professionals are always available. Azerbaijan real estate property merchants also make the procedure of buying or selling easy and you do not have to worry with regards to the paperwork. Easy to follow rules exist for both individual as well as business financial transactions of real estate property however it’s much better for you to retain the services of a legal professional or Azerbaijan realtors for the exact purpose.

If you are intending to transfer overseas and then settled down there, Azerbaijan is an excellent choice. Azerbaijan ranks Thirty eight in comfort of conducting business amongst other 183 locations that contain international financial systems. This specific research has been executed from the World Bank in 2010. According to World Bank, Azerbaijan ranks Seventeen in the category of starting up business and also in their particular category of protection of investors, it ranks 20th. The currency of the nation is Manat and additionally country is full of minerals like natural gas, petroleum, gold, silver, titanium and also manganese. It is the reason for climbing Azerbaijan real estate. Investing in Azerbaijan real estate in present-day periods can be a advanced choice. There are several places in Azerbaijan where housing prices are not really substantial and investing here any moment can be very productive. A great deal of information and Azerbaijan Real-estate listings can be found online and you can locate a variety of specifics about the land quite easily.

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May 5

Please feel free to use this article as long as

Please feel free to use this article as long as credit is given to the resource box.
Copyright Arthur Levine 2007
Words 865
Keywords: The Dialectic Rationalization of Materialism, Funny Money, Prophet, Guru, Conspiracy, China, Trade Deficit
Speech Given at Madison Square Garden by Johnny Oops the month after his appearance on Big Mouth Maxie’s TV Talk show, which catapulted Johnny to national acclaim as a guru and possible prophet.
My friends and fellow followers of The Dialectic Rationalization of Materialism, there is an international conspiracy going on between China and the United States that has the capacity to ruin all our lives. We cannot allow this illegal and potentially disastrous situation to continue. We have to do something about it, and with your help I believe I have the solution. Remember, God helps those who believe in The Dialectic Rationalization of Materialism.
The Chinese have been making fortunes at our expense selling us goods that they produce cheaply. This has created a huge trade deficit. We finance this deficit with the sale of U.S. Treasury bonds purchased by China. To make this game of musical chairs work, our respective governments have convinced the Chinese people to save their money and U.S. citizens to spend wildly on every conceivable type of imported product at highly inflated prices, while at the same time building up their personal debts. This has resulted in overvaluing the Chinese currency and devaluing our American dollars. Pretty soon if we don’t stop this madness our dollar will be worth practically nothing. Some experts say it already is worthless. Oh the shame of it. How can we let these forces of evil destroy our great country like this for their own personal gain?
At least with The Dialectic Rationalization of Materialism the greed factor works to our benefit, not some bunch of foreigners who our leaders are selling out to. I say if anyone around here is going to sell out to anyone we better be the ones who gain from it.
I may not be an expert at economics, but I still know that when you are spending more than two dollars for every dollar you take in that you will eventually be in trouble.
Well here we are now with a trade deficit of more than 233 billion dollars a year with the Chinese alone, and with no apparent end in sight or way to get even.
If this keeps up we will not be able to finance our national debt, and our children and grandchildren will be left to pick through Chinese garbage and ruble to find enough to eat. Our industries are already declining and we will soon lose the capacity to produce anything. We don’t even make our own sewer covers any more. Take a look underneath. They are all stamped made in China. If we can’t cover up our own poop what is to become of us?
I have the solution and here it is. We need to all band together and start saving money and investing it only in made in America products. Ladies do you want an Ox or a Tiger in your tank? Men, who is in charge here, do you want to be playing English style soccer in short pants, or American football? Stop buying Chinese and Japanese cars? The Japanese have a hand in this too, but they are subtler about participating in this conspiracy then the Chinese.
My friends and members of my flock, we must take action, we are not going to be put down any more. We are not going to mortgage our future to the Chinese, or the Japanese, or anyone else for that matter. I ask you all to reach out and touch the person next to you in their essential parts as we all come together as one person with the one goal in mind to stop this conspiracy and save our Country.
With that last statement a tremendous rustling and grabbing of body parts took place in the stands. It was like a mass mini groping, and everyone evidently enjoyed it thoroughly. Johnny had put the audience in the perfect frame of mind for his final pitch. They were impassioned with the glory of The Dialectic Rationalization of Materialism.
We must take action and Buy Back Our America must be our motto. Listen to me for I have the ‘word. I am the messenger Johnny screamed.
Make no mistake about it; organizing an effort of this type takes money. I urge each of you to reach deep into your hearts and your pockets, and donate twice as much as you think you can afford to The Dialectic Rationalization of Materialism so we can fight this evil financial conspiracy. Believe me the money you give will be well spent compared to giving it to the Chinese to buy poisonous plastic toys for our children or dog food. My God they are even trying to poison our animals. We can’t let them get away with this. Think of the welfare of your children and your pets. Give now, volunteer ushers will be passing Save the Nation Baskets from row to row. Help us Save the Nation. Are you with me? Are you ready to Buy Back America from the Chinese?
With that question the whole arena rose up in wild cheers of applause. Rumor has it that millions of dollars, some estimates ran as high as one hundred million, were donated that night a fair amount of which was in cash. Johnny watched the scene with delight convinced it was a miracle, but agents of the IRS were watching too on instructions of the Attorney General who was getting his instructions from you know who, and I don’t mean God. Johnny may have gotten too important for his own good. He was going to have to learn to play by the rules. The question is whose rules?

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May 3

Well, surely it can’t drop much lower? If you haven’t

Well, surely it can’t drop much lower? If you haven’t locked a mortgage rate in by now, or haven’t got yourself pre-approved, you had better hurry up. All those people who can remember the 11% mortgage interest rate will be trampling over each other to try and re-new at these rates.

Both the thirty year fixed rate mortgage and the fifteen year fixed rate mortgage have dropped by almost another half a point. Rates are really competitive for those who want to be able to budget and feel secure about their future. You can lock in the mortgage rate for fifteen years at an average 5.21% at the moment. This means that you will know exactly what your mortgage repayment will be for the next fifteen years. That’s security!

A survey taken this last week on mortgages, reports that the fifteen year fixed rate mortgages are at their lowest rate since July 2005 and that for the first time in seven years the rate is lower than the average rate offered on a one year adjustable rate mortgage.

These results were published by Freddie Mac in the Primary Mortgage Market Survey. An announcement from Freddie Mac vice president stated that the further mortgage decreases were in large part a reaction to the drop in consumer spending.

Figures have been published which show that December’s consumer spending was down by 0.4%. He added that sales of garden equipment and building materials were particularly hit, with the loss of sales in these areas dipping to an almost 3% loss from the previous month.

This explains why mortgage interest rates keep dropping. It doesn’t explain why everyone is fairly cautious about re-financing or getting a mortgage – even a fixed rate! Is it possible that people are not buying their dream home until they have seen the lowest edge of the mortgage rates?

Just how much money is involved for the average member of the public here? Well, for every one eighth point on a conforming loan, you will pay an extra $25.00 per month. This week the rate for a fifteen year fixed is averaging out at 5.21%. A 15 year fixed rate mortgage last week averaged 5.43% which was down from the week before when it averaged 5.68%.

In real money, you could have saved yourself around $50 per month in repayments by just one week’s difference in time. This means that the home you are hanging out for may be snapped up by someone else. A buyer who is who is prepared to pay the extra $50.00 per month; a buyer who has decided not to gamble on the ultimate lowest of the low rates, but rather to snap up the property that they want now.

It is anyone’s guess whether the mortgage rate will go up or down. Unemployment figures rose last month compared to the month before, but the inflation and economic data has already been calculated to reflect long term lending risks. Lenders anticipate the news and indications are pointing to the fact that rises in the rates are more likely than drops in the rate.

First time buyers must be encouraged to at least try to get approval at this rate. Approval is not a contract, and it does not need to be taken up and used, but at least this low-return mortgage rate will be available to them for a few weeks, if they wish to buy a home – before the rate inevitably creeps up!

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April 25

The mortgage sector, which grows up rapidly all around the

The mortgage sector, which grows up rapidly all around the world, also entered in a serious improvement process in Turkey in March 2007 with the issuance of the “Mortgage Law”. The effect of the law is that the demand of purchasing property increased and the mortgage sector went a step further.
Consumer loans in Turkey also increased in parallel with the growth of the mortgage loans. The total consumer loans’ volume reached 172.693 billion TL in the middle of February 2011; while it was 91.353 billion TL in 2007 and it has a 89,04 % growth rate. Comparatively, in 2007 the mortgage loans, that had a volume of 30.823 billion TL, formed 33,74% of the total consumer loans and in the middle of February 2011; the mortgage loans had a 92 % growth rate, formed 34,27% of the total consumer loan sand its volume ascended to 59.188 billion TL.
With the growth of the demand of the mortgage loans, Banks started to play an active role. The volume of the mortgage loans of the public, private and foreign banks, which are categorized according to their capital, was 42.543 billion TL in 2009 and in the middle of February 2011, it reached to 59.188 billion TL. Between 2009 and 2011, the volume of the mortgage loans raised 16.645 billion TL and the growth rate became 39,13%. In the middle of February 2011, the public banks’ mortgage loans volume was 17.409 billion TL, while it was 11.921 billion TL in 2009 and the growth rate was 46,04%. Furthermore, the volume of the private banks’ mortgage loans was 19.769 billion TL in 2009 and it increased 43,06 %and became 28.281 billion TL. In addition to that, the growth rate of the mortgage loans in foreign banks was 24,31 % and the volume raised to 13.493 billion TL from 10.854 billion TL between the years 2009 and 2011.
The new regulations also gave ability to start residential financing companies like correspondent lenders and financing organizations.
DD mortgage – A joint venture of one of Turkey’s biggest corporations Dogan Holding and one of the world’s biggest banks Deutsche Bank, was established on 2008 with an approval from BRSA ( Banking Regulation and Supervision Agency). DD Mortgage’s vision is to be one of the leading home financing corporations with high technology standards and a team of professionals with extended experience on mortgage products.
DD Mortgage creates values on mortgage industry with innovative products, flexible procedures and technological infrastructure combined with experienced employees. DD mortgage is also working on secondary market products in order to improve quality and increase resources that are available for residential home loans industry.

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April 22

Buy Here Pay Here Capital Region – Find Cheap Used

Buy Here Pay Here Capital Region – Find Cheap Used Cars

The idea of Buy Here Pay Here (BHPH) financing at auto dealerships is simple. Generally, sales and collections both take place at the same facility. The dealer and buyer first arrange a loan in-house at the dealership. It’s quite common to explore financing before even looking at cars, then going to check out cars with a monthly payment range in mind. After the buyer purchases the automobile (buy here), she or he then returns to the dealership to make weekly or bi-weekly payments (pay here), usually by cash or check. Some dealerships offer BHPH financing as an option, while others require it exclusively.

BHPH financing is becoming increasingly common in the auto sales industry and there are many reasons why. An auto dealership that chooses to offer BHPH financing can suddenly get in touch with a fresh pool of potential auto purchasers. BHPH financing allows dealerships to sell cars to individuals with poor credit history who would not otherwise have the ability to purchase a vehicle. The amount of consumers with poor credit has recently increased, especially with the current state of the economy and in the wake of the subprime mortgage crisis.

BHPH financing provides these consumers with several incentives to purchase vehicles. First, dealerships can report positive buyer behavior to credit reporting agencies, which is appealing to buyers with poor credit history. Such a practice also motivates purchasers to make timely payments. Second, BHPH dealerships tend to be flexible with accepting trade-ins since it is more readily found buyers for those cars. Accepting a trade-in vehicle that other dealers might not could be a great selling point. In sum, dealerships that offer BHPH financing can gain an edge over competitors that don’t

Perhaps the best aspect of BHPH financing is that it offers a lot of flexibility – not just in payment options but also in overall management style and decisions. Because of that, a dealership can smoothly make the transition to BHPH financing. There are lots of resources that provide detailed information about how to setup a BHPH dealership effectively. Jim Rhoads, the president of a consulting firm that are experts in start-ups in the BHPH field, highlights a few of the steps to starting and managing a successful BHPH operation. Topics include everything from understanding the business, to deciding on the best BHPH software, to collection efficiency.

Once you choose to offer BHPH financing, you should use marketing techniques to your benefit. BHPH financing’s best selling point is that it is possible to buy even with poor credit history. Signs that emphasize that benefit are invaluable for BHPH dealerships. These signs are especially important because many people don’t know what BHPH financing is. A sign as easy as one that says WE FINANCE may encourage buyers who have previously been turned down because of credit problems. Effective advertising allows a BHPH dealer to maximize its potential.

Check Out Second Chance Auto for Buy Here Pay Here Options in the Capital Region.

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April 22

Homeowners can use mortgage servicing fraud and abuse practices as

Homeowners can use mortgage servicing fraud and abuse practices as a defense to stop a foreclosure lawsuit. Once mortgage loans are originated, they are frequently packaged and sold off to investors. While no one may really know who owns the loan, the rights to collect the payments are transferred to mortgage servicing companies. These companies are one of the greatest perpetrators of abuse and fraud against homeowners, as they have very little incentive to do right by the borrowers.

These companies are typically paid a flat fee by the trustees of the mortgage to administer the loan, collect payments, make sure property taxes and insurance are in place and paid through escrow, and pursue any foreclosure proceedings, if necessary. If homeowners do miss payments, the servicer gets paid anyway, and actually makes more money from a foreclosure than if they offered to work closer with the owners of the property to negotiate for a mortgage modification or other workout option.

That’s right — mortgage servicing companies actually lose more money when they help homeowners modify loans and save their homes from foreclosure! The fewer resources they dedicate towards loss mitigation and assisting borrowers, the more of the flat servicing fee they get to keep for themselves.

Of course, the parties on either side of the mortgage — the homeowners and the holders of the loans — lose far more in a foreclosure than a loan modification. But with a servicing company in the middle of the deal, it is more profitable to let a house go through the entire foreclosure process than to assist the borrowers in making the payments more affordable.

Servicing companies have also been found to “push” homeowners into foreclosure in a variety of abusive ways. If they are not pushed straight into foreclosure, the companies may covertly charge fees and extra interest, or credit payments late. If the owners ever do miss a payment (and many loan servicers only purchase rights to loans that are subprime or have higher risks of default), a foreclosure will quickly result and the costs to reinstate the loan may be astronomical.

The following is a list of the top seven most common mortgage servicing abuses that homeowners will run into. However, the ways that fraudulent companies can take advantage of borrowers are nearly endless, so if homeowners believe that they have been defrauded, they should take appropriate actions in court and with state and federal regulatory agencies. The more that they can discover about how their loan has been handled by a servicer, the better chance they have of proving servicing abuse and other related charges in a court.

Junk fees masquerading as legitimate. These may include property inspection fees, broker price opinions, and outrageous attorney fees, among many others. These will be charged to a borrower’s account in order to increase the amount of a payoff, thereby creating even more profits for a loan servicer during a foreclosure action.

Failure to disclose fees during a Chapter 13 bankruptcy. Servicing companies seem to work even harder against homeowners once they file for bankruptcy. Fees can increase, but little justification for the fees will ever be given, even to the bankruptcy courts.

Collection of junk fees even after discharge in Chapter 13. Because the company knows the homeowners no longer have the protection of the courts or the guidance of a bankruptcy lawyer, they can add the junk fees back in and charge them to the borrowers.

Using junk and late fees to show negative payment history. This would help the mortgage servicer argue that the homeowners have failed to uphold the bankruptcy payment plan and that a relief from stay should be granted. The servicer can try and argue this even if the borrowers have made all of the required Chapter 13 payments on time.

Attorneys for corrupt mortgage servicers just as corrupt. These attorneys will receive information they know to be inaccurate or misrepresented from the servicer and file motions in court like it was legitimate — another case of lawyers abusing their positions in order to keep a rich client happy. But the lawyers also know that they can overcharge for legal and court fees and it will be charged to the borrowers’ accounts. These fees may even be in excess of what courts have approved.

Escrow account abuse. Servicers may create illegitimate escrow accounts to hide the fact that they are taking borrowers’ money and applying it to junk fees, late fees, and interest, instead of on the actual amounts due on the loan. This pushes borrowers even further behind every month. Companies may also fail to fund escrow balances properly, creating negative balances when county property taxes or homeowners insurance are paid. The homeowners are then charged for this deficiency and fees and interest are added to the balance of the loan.

Forced-place homeowners insurance. Too often, servicing companies will arbitrarily determine that the property insurance in place on a home is not sufficient, or they will simply deny there is any insurance present at all. At this point, the mortgage loan servicer will buy a policy from an insurance company it is affiliated with and charge the premiums to the borrowers. Unfortunately, the premium may be several thousand dollars more than the original policy was. But the servicer will adamantly, consistently deny that the homeowners’ policy was adequate, and no amount of proof or phone calls will convince them otherwise.

Unfortunately, there are simply far too many ways that homeowners can be abused by servicing companies to list here. A surprising number of the largest names in mortgage servicing have been found engaging in these practices and have been forced to pay homeowners. A good attorney or foreclosure specialist trained in this area will be able to help the vast majority of borrowers determine if servicing abuse is a factor in their foreclosure.

Although there is no specific federal or state law outlining what constitutes mortgage servicing fraud or abuse, both areas of the law outline some prohibited actions for any mortgage lender or servicer. Regulation Z of the Truth in Lending Act is a good place to begin research, as well as any applicable state foreclosure laws, consumer protection laws, and banking regulations.

In terms of using this as a defense against a foreclosure lawsuit in court, homeowners may allege servicing abuse in the affirmative defenses or counterclaims portion of their answer to the complaint. Depending on the severity of the abuse, borrowers may be able to offset some of the damages they have suffered or have an entire defense to the lawsuit for especially egregious acts.

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April 21

In the process of buying a house, you have to

In the process of buying a house, you have to make decisions about a number of aspects, including your loan options, choosing a real estate agent, getting the house inspected by a professional, etc. Similarly, when it comes to closing a real estate deal, you may wonder whether to choose your own closing agent. But before making this decision, you need to first understand who a closing agent is and what role he or she plays in closing a deal.

A closing agent is a person or a company who coordinates all procedures and formalities required to complete the sale or purchase of a property. He or she ensures that all documents are in order before you sign a deed and also interacts with your lenders to obtain details concerning the disbursement of funds and closing instructions. Once all these documents have been gathered, the closing agent prepares a settlement statement and the required affidavits.

In general, a closing agent does not work for a buyer, seller, lender or real estate agent. However, he or she may have to work with all these parties to obtain the necessary documents, such as the sale contract, inspection report, home warranty documents, and so on. The closing agent also ensures that you are in agreement with the opposite party that all papers obtained are in order and collects checks required for covering closing costs and other deposits.

Lastly, the closing agent records the deed and mortgage with the appropriate courthouse, and then he or she returns the original deed to you and the original mortgage document to the lender.

Why Hire a Closing Agent?

First of all, an experienced, reliable closing agent can close a deal smoothly and more rapidly and help you avoid a complicated or delayed closing process. Secondly, closing agents have vast experience in real estate transactions, and therefore, they have better knowledge about the types of loans available and which loan would suit your needs best. They also draw up all the necessary paperwork and handle the payoff to the seller. This drastically reduces the burden on you.

So Should You Choose Your Own Closing Agent?

While as a buyer you reserve the right to choose your own closing agent, it is wise to enlist the services of the closing agent affiliated with the seller. This is because sellers work with a regular set of closing agents who are well accustomed to all procedures and formalities. For example, when it comes to REO properties or bank owned houses, the closing agents working with the bank may have more experience with the paperwork necessary to complete the closing, as opposed to someone chosen by you. Sellers also prefer to work with these agents because there is a mutual understanding of their Service Level Agreement (SLA) and turn-around-time. This makes the process much smoother.

For you to opt for your own closing agent, you must be familiar with closing agents in your state, which you probably are not. Leaving the choice to the seller comes with other benefits too. Most sellers offer to pay for your title insurance policy and other related search fees as an incentive for allowing them to choose the title provider and closing agent. And by leaving the choice of closing agent to the seller, you can ensure a faster closing time.

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April 19

We all know that there are a lot of mortgage

We all know that there are a lot of mortgage companies out there. But how do you know which company to choose? Some companies have flashy advertisements about low interest rates, but are they really the best company to choose? A mortgage is a very large investment, so the company that you choose has to be the best company out there for you. As a mortgage expert, I can give you a few tips when choosing a mortgage company.
1. Watch out for interest rates. Some companies have higher interest rates than others. Choose the company with the best interest rate for you (usually the lowest, but not always). Be careful of special promotions that have hidden fees. Don’t get sucked in by an extremely low interest rate. Be sure you know everything involved with that interest rate. Be sure to check things out and understand the terms of the interest. If you do this, you will have a much better chance of getting a nice interest rate that you and your family are comfortable with.
2. Be sure to know all of the fees. Some mortgage companies have hidden fees, or they tack on additional costs. Don’t get stuck paying extremely large fees. Once again, companies will try to hide behind low interest rates, but then they will stick you with several large fees. Don’t fall for it!
3. Be mindful of the application and appraisal fees. You want to get the lowest fee possible with the highest quality service. Some mortgage companies charge insane amounts for applications and appraisals. Charging a lot does not necessarily mean that they are worthwhile companies. The best service, for the lowest price is always the best way to go!
4. Finally, and most important of all, is the service. Some companies are not committed to their customers. A Mortgage company that gives you terrible service, but extremely low rates is not the best company out there. Watch out for companies with quite a few different contacts. One on one customer service is the best. You want a mortgage company that cares and is willing to get to know you and your needs. How a mortgage company presents itself to its customers, and how it handles them is a reflection of the kind of company it is. A company that has lousy service, rude representatives, and little customer interaction is not the company for you. A quality company will be attentive to your needs because you are the customer, and you are what is most important.
Choosing a mortgage company may seem like a daunting task. Just remember to keep costs in mind. The most expensive is not always the best, nor is the cheapest always the best. Keep in mind service. Service is the most accurate representation of a company. If you follow these simple tasks I am positive that you will choose the best mortgage company for you and your family.

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April 18

A sell and rent back seller who sells one’s property

A sell and rent back seller who sells one’s property and becomes a renter in that property under a sell and rent back plan should be aware of the risks that can come with this type of plan. These are risks that deal with such things as the ownership of one’s home and the money that is involved in a transaction among other things. They are some of the most important factors to take a look at when getting into this type of scheme.
First the seller will be removed of one’s proper ownership status of a property. As a seller gets into a sell and rent back agreement that person will practically sell the rights to one’s home and as a result will be legally interpreted as the renter of a property and not the owner of that property.
Because of this factor the seller will not be able to work with renovations or home improvement processes on one’s property while renting it out. This is something that can vary by each sell and rent back contract that is being handled but there are no guarantees that a person will be able to do something with regards to home improvement on the property.
A rent charge that is going to be paid to a sell and rent back provider each month can be lower than that of what one spent on mortgage payments each month. Regardless of this the value of rent charges can increase over time. The best thing to do about this risk is to check the terms of a contract carefully before getting into a sell and rent back plan. In some cases the value of the property that is being handled can be a vital factor here but the influencing factor with regards to property value increases can vary.
Next there is the risk of getting less money in a sell and rent back plan. When a person sells one’s home in a standard way that person can get more money off of a property. However, in a sell and rent back plan the person will get about sixty percent of the value of the property. This is a vital risk that can be worth thousands of pounds.
Repossession can be avoided when getting into a sell and rent back plan but this does not mean that the seller is completely immune from it. The person’s property can still be repossessed if the person does not pay one’s rent payments on a regular basis. This comes from the form of being evicted from the property in the event that the payments will not be met in a proper manner.
The possibility of a sell and rent back provider going under is the last risk for any seller to be aware of. If a provider goes out of business during the life of the sell and rent back agreement the seller will either be evicted from the property or will be forced to buy it on one’s own as a means of being able to stay there. After all, when the provider goes out of business the property that the provider had the agreement on will go out onto the open market for other people to buy.
All of these risks are vital ones for any sell and rent back seller to take a look at. These are risks that deal with how costs can vary over time with regards to rent and how the money one gets can be low. The concern of a provider going out of business is a risk to see in this type of plan as well.

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April 18

Money is the need of hours. One can’t even think

Money is the need of hours. One can’t even think of developing without financial assistance. It would not be wrong if I say that finance industry is seeing an exponential growth in the present scenario. Industrialization and globalization has forced or better say convinced many entrepreneurs to start new business. And it is well known fact that starting a business requires initial capital which they get in the form of advance bridging loan or credits.
The demand of financial service is increasing and so is increasing different financial industry. The most common loans applied these days are commercial mortgage loans; these are applied for business purposes. No doubt the working is similar to residential mortgages, as these also are used to fund a new purchase of property or to refinance a property and raise funds for your other business alternates.
The funding is not new in our society, it has been long in practice but the ways and the process has changed. Traditionally, business owners and home owners were use to use bank or other reliable financial institution for the commercial needs. Later with the regularity a type of relationship is established and bank naturally speeds up the process of loaning. Paper work is reduced and bank easily finances the amount. However for a regular client or customer the funding process featured by bank is still a hectic task. Banks can’t offer the flexibility of other available finance options as other private financial organization do. Secondly increasing competitions in the financial sector has also brought down the interest rates and also ease down the process.
Now, you may ask a question that, why should I go for Independent mortgage brokers and not for reliable banks. The answer is simple, independent mortgage brokers are smaller but because of stiff competitions they work in best possible way to give the best possible rates for your bridging loans.
An Independent commercial mortgage brokers offers personal lending experience
Your independent broker will give precious time to listen to the points and other financing needs
They will work with you to help you get the best commercial plan suiting your need and pockets.
They will also consider your personal financial status.
As, they are independent, they don’t work for one organization and will bring all possible financial solution from different financial institution. You enjoy the freedom to choose the best suiting your needs.
The best part of these lending agencies is that you can go for negotiation. And there are very much chances that you will fall on a better and cheaper deal than your friend.
After reading the above write up, I don’t think there is anything wrong in going for independent mortgage broker for bridging loans. They may help you save handy amount of money and as they receive some fees from lending agency too so you are sure to deal a memorable and affordable deal. And you also might know the fact that these brokers are not paid until the mortgage loan is finalized. This means agent will try his best to find a plan that is sure to contend you.

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April 18

Originate Nationwide.

Originate Nationwide.
Net branch. Bank Branch. These topics are on the minds of most originators these days due to the internet and technology expanding the reach of the geographic restrictions that originators may have once found limiting.
The 50 state lending program is a program designed to be used by licensed mortgage brokers and their employees to accept mortgage loans that have been referred to them from all 50 states. The broker becomes an independent contractor for the bank to help originate and manage a portion of the process and be compensated for that management according to RESPA regulations.
This opens up experienced brokers and their employees to do business nationally on a level playing field with the banks!
Originators that can focus their efforts on getting loans in and less on investors and state restrictions will be able to spend more time originating loans and making money.
The broker will originate the mortgage loan using the process and procedures provided through the 50 State Lending website. Upon approval NLC will email the new approved broker; logins to a permission based website with all the tools and procedures to help them originate the loan. Once the AUS required documentation has been accumulated by the bank’s processing department, the information will be verified and forwarded to the investor for underwriting. If additional information is required by either the bank’s processing department or by the investor’s underwriting department, the broker will be notified and will be responsible for providing the required information. Once the loan has been approved the broker will be notified of prior to closing conditions that must be satisfied and asked to schedule a closing with his/her borrower. The banks processing department will work with the investor, the broker and the title company to ensure that all prior to closing conditions have been satisfied, the closing has been scheduled and that closing documents are prepared.
The broker will be compensated on Friday of each week for loans funded/purchased by Wednesday of the same week. Compensation will be 1099 and paid to the broker/mortgage company and sent by mail. Per the bank regulators, the maximum combined total discount points and yield spread premium that can be charged by a broker is 3.5%.
This program is available to licensed mortgage brokers and their companies nationally. Please remember that you and your employees are ‘not’ employees of the bank. Do not represent yourselves as employees of the bank. You and your employees are contractors for the bank. You are responsible for the actions of your employees and will be held accountable for their actions. Please remember also, that this program is offered by ‘invitation only’ and can be rescinded at any time. This program is unique to the mortgage industry and represents a valuable opportunity for qualified mortgage brokers giving you unlimited access to all 50 States.

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April 13

As Basel III, MiFID II, UCITS IV and the Dodd

As Basel III, MiFID II, UCITS IV and the Dodd Frank Act are finalised and/or come into force, ever higher data requirements have been thrust on financial institutions that require them to meticulously track the origin of data, its transformation over time and the persons or processes responsible for changing it. Some reports have estimated that at least 70 new regulations governing the capital markets will come into force in Europe between 2012 and 2013 with more than 300 in the US over the same period.
The power to retrieve and consolidate data from several sources in real time so as to feed data warehouses, risk engines and therefore compute current risk exposure is thus crucial now more than ever. This is especially so when one considers the current drive toward creating a central OTC market so as to prevent another cataclysmic financial markets crisis as was witnessed in 2007-2009. New supervisory rules are compelling firms to extract and report on enormous quantities of trading data without compromising the quality of such data.
The enterprise data is fed into pricing and risk analysis data warehouse models. The sheer volume of OTC transactions is just one of the many forms of massive data that characterize the capital and financial markets. A recent poll by MoneyMate of buy-side market participants showed that 80 per cent of respondents were not prepared for the imminent regulatory changes. 75 per cent of polled firms considered the Dodd Frank Act a serious cause for concern.
To be fair to financial services organisations that are still unprepared for impending regulatory changes, new rules such as Basel III and MiFID II go through several revisions and amendments before the final framework becomes clear to all stakeholders. But even after the new rules become clear, disparate systems between customer facing, middle office and back office functions make it difficult for financial institutions to accurately compute risk exposure, automate collateral assignment and put in place the systems necessary to achieve real time position valuation.
Indeed, for global financial market players, one of the biggest challenges facing their risk management and compliance teams is evaluating exposure across the bank’s entire business. A recent poll by Simcorp showed that 30 percent of buy side market players admitted that they would need days or even weeks to compute their entire organization’s risk exposure.
To put such drawn out calculation in context, this would mean that in situations such as the implosion of Lehman Brothers and Bear Stearns, 30 percent of buy side players would be slow to react because of a lack of timely risk information.
Following the control gaps that were so dramatically laid bare by the 2007-2009 financial crisis, supervisors have directly or inadvertently drawn greater attention to market data as they aim to change the current OTC derivatives market into an exchanges-traded model. One way that this is happening is the drive to have a system of LEIs (Legal Entity Identifiers) that will be used to tag transactions to respective counterparties.
Regulators must not be left behind in adopting massive data management technology
Interesting though is that whereas new rules have continued to drive innovation in the capture and management of enormous amounts of data, financial industry supervisors themselves are often slow in implementing such techniques. Yet, the more efficient regulators can capture and analyze enormous data, the faster they will be able to identify and defuse systemic risk.
In fact, some analysts of the 2007-2009 financial crisis have laid the blame not on weak laws but on weak supervision. Such analysts have argued that all the data that was necessary for supervisors to nip in the bud the ballooning risks from derivatives and subprime mortgages was available but was never acted on. While not everybody will necessarily agree with this line of thinking, the controversy and eventual dissolution of the Office of Thrift Supervision in the US does lend some credence to this proposition.
Still, some financial market supervisors are taking steps to efficiently capture market data. The SEC (Securities Exchange Commission) in the US for instance, has floated the idea of a Consolidated Audit Trail. The CAT would be based on collating information from FINRA and every exchange into a central data repository. The information would be on every order, every quote and every reportable event affecting each order and quote. In the event of a sudden crash, the SEC would have the real time data necessary to quickly see what happened as opposed to waiting several weeks to decipher what exactly happened.
The way forward
The new regulations call on both supervisors and banks to adopt a sophisticated approach toward the capture and aggregation of data from multiple sources, report it and maintain the data’s history to allow for future audit. To do that, institutions must take an enterprise-wide inventory of data, identify the attributes of such data and isolate the fields that will be relevant for regulatory reporting.
One of the key challenges will be the need to harmonise time stamps especially when the data is originating from different systems. Risk managers must work with technology staff to ensure all data that makes its way into the risk data warehouse is time-consistent. Remember that the best case scenario is for risk data capture and position appraisal to take place in near real time.
Ensuring time consistency can be difficult when one factors the possibility of data queuing in different systems which may ultimately affect how timely risk managers can generate a position statement. Still, a sophisticated system would take these dynamics into consideration so as to guarantee that the final risk reports are an accurate representation of current data.

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April 8

One of the main problems with foreclosure is that the

One of the main problems with foreclosure is that the legal system the banks utilize to force homeowners out of their properties can seem intimidating to those unfamiliar with it. From the original complaint and summons to the eviction order delivered by the sheriff, the entire process is more a show of government force and alliance with financial interests than an attempt to secure justice for homeowners.

The first step in the legal foreclosure process is typically homeowners receiving the bank’s complaint. This means they have a certain number of days from the date that they were served with the paperwork to serve their answer to the foreclosure complaint on the bank’s attorneys and to file the answer with the court clerk’s office.

But, it would not be a legal process if words like “complaint” and “answer” did not have confusing, uncommon meanings. Filing an answer does not just mean sending the attorney a letter explaining why the mortgage is behind — it is a legal term expressing a certain way of addressing the lender’s arguments in its complaint, stating legal defenses and references, and mentioning other positions in contrast to the bank’s statements.

An “answer” is a legal term and indicates the homeowners opportunity to fight back against the bank’s lawsuit against them. Borrowers can contest the lender’s ability to sue for foreclosure in the first place, or attack any of the claims made by the lender in the original lawsuit documents, or point out that the bank has violated court rules or government predatory lending laws and regulations and the complaint is not valid.

Every answer should be unique, depending on the circumstances of the case, where homeowners go in answering the complaint is up to them, but it is usually a good idea to research the correct manner in formatting and filing an answer or consult with an attorney. The rules of procedure that govern such court proceedings are needlessly complex, with state rules, county rules, and individual court rules that must be adhered to, or else the judge can throw out or ignore any motions on technicalities.

The original foreclosure lawsuit paperwork may also have a court date on it somewhere; if not, the homeowners should the courts as soon as possible to find out when it may be held. But in many cases, courts usually do not immediately schedule court dates on an initial complaint. What usually happens is the homeowners file their answer within the required amount of time and then a court date is scheduled once the bank and borrowers have filed any other motions.

In the beginning, though, homeowners should be aware when they are served with the paperwork that they have just been thrown into a complex system of rules, regulations, and judicial discretions. It is almost impossible for any lender, no matter how high-priced or expert the law firm it hires, to follow every necessary clause in every law, any one violation of which may invalidate the entire foreclosure process or even the mortgage itself, depending on what mistakes were made at what time.

There are probably dozens (if not hundreds) of ways in which banks could be construed as to have broken laws, agency regulations, or even the courts rules. Whether any judge will listen to these arguments or simply ignore them in order to railroad homeowners depends on the specifics of the court proceedings, but every borrower should learn at least the basics of the legal process and do whatever they can to stop foreclosure or delay the auction as long as possible before final judgment is awarded to the mortgage company.

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April 3

When it comes to seeking debt relief, many Americans feel

When it comes to seeking debt relief, many Americans feel the only viable option they have is credit counseling or filing bankruptcy. What many people are not aware of is the little known process of debt settlement. The goal of debt settlement is too, one satisfy your creditors for less than what they claim you owe and two save you as much money as possible during the process.
One reason many people choose a debt settlement company is because their debt amounts are too high for them to realistically manage to payback in full and want to avoid bankruptcy. Another reason why thousands of Americans choose a debt settlement company is because they are extremely upset and fed up with the credit card company over the fact that their interest rate has increased to an unfair high rate like 28 – 30% and the company refuses to lower it no matter how much you plead.
But the number one reason why Americans choose a debt settlement company is because their desire to have closure on being in debt and their priority of becoming debt free becomes their number one goal and it outweighs any real or perceived thought of any negative impact that it could have on their credit history while going through the process of debt settlement.
According to the Fair Isaac Company your debt to credit limit ratio accounts for more than 30% of your score, so it becomes absolutely essential to eliminate your debt first when you are trying to improve your credit score. Also remember your credit report is only a snapshot in time and is never a permanent record, you can recover and improve your credit score over time. Everyone gets a second chance in America!
The banks would love to keep you in the mind set that your credit score is absolutely the most important part of your life and by not paying them back in full would decrease your score and put you in the gutter forever. By all means your credit is important but should not completely dominate your life. This mentality works in the banks behalf and keeps you in fear, just where they want you.
But think about it, if the banks where really were concerned about you and your credit score then why would they extend you more credit on your current credit card so you can charge more when they know that this will decrease your score. So do they really care, NO.
When researching the option of debt settlement as your choice to become debt free understand that there are basically two types of companies to use when considering who you will choose to settle your debts. First there are the very common non-lawyer based debt settlement companies which comprise of over 95% of the companies currently advertising over the internet and TV. The rest are law firms that practice debt settlement as one of their services.
In the rest of this article I am going to list some of the major important points that you need to consider when choosing a debt settlement company to help you become debt free. As well as give you a warning sign for each point when speaking with the representative of a debt settlement company.
1. The company should save you at least 40% of your debt including fees and paying your creditors.
You can usually save 20% on your own with very little effort but any more than that requires experience and negotiating savvy.
Warning Sign:
When you are speaking to the representative from any debt settlement company you need to be cautious and do your homework. There are many debt settlement companies that just want to make as much money as possible without any real regard for the clients best interest. A lot of these representatives will say just about anything that pleases you to enroll you in their program. One way to recognize this type of company is by the tactic of setting a monthly payment amount to whatever the client wants. Usually very low and for a much longer period of time than what other reputable companies offer. This defeats the purpose of their claim of saving huge amounts of money because the interest keeps growing and the consumer does not realize that the longer the payback plan time frame the less they save.
Most Americans are getting caught in the magic bullet or quick fix syndrome, which these unscrupulous companies’ operators understand all to well and sign up tens of thousands of trusting people each year. If the representative is saying that they will save you over 60-70% of your debt be wary, at first it might sound great but verify what the overall cost is before signing on. Once they add on their fee and include your payback to your creditors it will be a lot less and they never mention this. Make sure to ask the representative if their claim of high savings for you is also including the companies fee.
2. Make sure your payback plan is in a realistic time frame to complete this process.
The major benefit of debt settlement is to become debt free in a very short period of time verses paying minimum payments to the credit card company which averages over 38 years to pay back. You should choose a debt settlement company that will focus and emphasize on enrolling you to becoming debt free in two years or less, but only under specific circumstances no longer than three years.
Warning Sign:
By stretching a debt settlement payback plan farther than three years you’ll never receive the full benefits that you were told in the beginning. Why, because of accruing interest. In other words the percentage of money your saving on the original debt decreases drastically when you enroll in a program that has you paying for four or five years because the debt amount drastically increases.
3. Make sure the collections calls will be stopped.
One of the negative aspects of debt settlement is that you do need to fall behind in order for these creditors to be willing to accept less. While falling behind you will get barraged with calls from collection agencies. Simply put these can be very annoying, scary, embarrassing, and aggravating. Now when it comes to preventing collection calls from 3rd party collectors, only by retaining a lawyer to represent you will stop them from calling. The Fair Debt Collection Practices Act states that if a client has attorney representation the 3rd party collector by law must deal with the attorney and not the debtor. Once the collector has been notified but continues too contact you directly then the collector becomes subject to a potential law suit.
Warning Sign:
If a representative from a non-attorney based debt settlement company tells that they can stop the collections calls ask them how and why the collector has to abide by what the debt settlement company claims. By law the collector does not have to deal with them. Typically their advise is to send a cease and desist letter, this can stir up a hornets nest. While this may stop the calls it will leave the collector no other option of contacting you to collecting the debt. So if they wish to continue to pursue with their collection attempts they will have to serve you papers to appear in court. Meaning that you will be sued.
4. Make sure the company is reputable.
A good place to start is to check the Better Business Bureau (BBB). Next thing to consider is how long the company has been in business. A general rule of thumb is to look for a company to have been in business for over 10 years. Thus ensuring that they know what they are doing and have settled many people’s debts in the past. What the scam operations do is open up as ABC company put through hundreds of people on their program that they know are not qualified for debt settlement just to take fees. Once they have these people complaining about not doing the right job they close down and start up somewhere else brand new as XYZ company. So if the company is brand new within a year or two that may raise a red flag and should be a major concern.
When it comes to law firms you have an extra layer of protection, the bar association. Check the state bar for the attorneys standing if you are going with a law firm. The attorneys are held to a higher standard by being a member of the bar association. With unanswered complaints to the bar an attorney can lose his/her license and business. The attorney cannot get another law license and just open up somewhere else. So it is in their best interest to do the best job for the client.
Warning Sign:
This is pretty obvious, if a company has an unsatisfactory record with the BBB and is not a member it would be best to stay away. If a law firm is not in good standing with the bar in other words under investigation, then stay away. If the company is relatively new and is showing some of the warning signs mentioned above, definitely stay away.
While debt settlement can be a very smart and viable option for many you need to be very cautious about the organization you are employing. By following the points and warning signs above you will greatly reduce the risk of being enrolled into a program that will not benefit you.

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March 31

There are so many people who want something to make

There are so many people who want something to make their financial decisions sound while they are going for home mortgage. For instance, one of the most significant financial decisions to make is when a person has to purchase a home. An individual can not take it casually as purchasing a home is a big decision and it can not be made without a lot of consideration and preparation. Such a wonderful tool which will fulfill their demand is a mortgage repayment calculator. With this tool people can make sure that they have all the details which they require while heading into their loan negotiations.
While people want to determine monthly payments they have to pay, it is beneficial to have a calculator like this. This calculator is very easy to use plus it provides people with so many benefits. People will get all the information by using this tool which they need regarding home mortgage. Following are some of the benefits which people will get using this calculator.
Through mortgage repayment calculator people can see the effects of change in the rate of interest.
People would be able to know what should be their mortgage amount with passing of time and also what the total amount of interest they have to pay.
They will be able to see what percentage of their payment goes to interest & how it alters with time.
People will also get the information that if they pay extra money, how their finance will be affected.
Through a mortgage repayment calculator, people will be able to know what is best for them and through it they can apply for it.
This tool is very flexible and it will provide people all the options which an individual would ever require while making solid decisions such as mortgage repayment. Most often this mortgage repayment calculator is found online. Most major individual finance blogs and financial institutions offer some type of these calculators. It allows user to make a sound decision. For instance if any individual has a 20 year fixed credit & he wants to pay the loan in 20 years, he can simply get this information using this calculator. An individual will get easily the information about the extra amount of cash he has to pay per month in order to achieve his goal.
While choosing a mortgage repayment calculator, people should take proper care. It is due to fact that they all are not same. People should make sure that the service or website which they are hiring should not compromise their data. People should not use the services which ask for subscription as there are various free calculators available online. People should be sure that the calculator they are using is giving correct figures. If one is not careful about choosing an accurate calculator, it may lead to bad financial results.

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March 31

Purchasing Houses subject to’ Things to Think About

I consider purchasing real estate subject to’ an existing mortgage to be a form of financing that can supplement a primary strategy. Other investors purchase homes subject to’ as their primary business model.

There are a number of advantages to purchasing a home subject to’ from a previous owner. The most obvious advantage is that you do not need to apply for your own financing. If the previous owner had a good interest rate, their rate will typically be lower than the rate that you would be able to obtain as a new owner. This is because their loan is based on the house being their primary residence.

Besides a lower interest rate, you will typically avoid the closing costs associated obtaining a new loan. If you are buying the house subject to’, you may be able to obtain the house for no money down, sometimes the seller will even pay you to take over the mortgage. In these scenarios, you are definitely better obtaining a loan subject to’ than you are obtaining your own financing.

The opportunity to purchase a home in this manner does not mean that you should abandon your purchase formula. Calculating your Maximum Allowable Offer is a precursor to considering any financing benefits. Also, if the seller’s interest rate is higher than your APR would be on a new loan, and if you do not have a limit to the amount of loans that you can obtain, you may be better off getting a loan yourself.

Some investors think that buying subject to’ eliminates their risk. If it doesn’t work out, they will just give the property back to the seller. Nothing in life is that easy. Simply walking away could seriously damage your reputation and consequently your ability to make new deals. Why would one want to sell a property to somebody who may or may not do what they say they will do?

You will also want to consider purchasing a second insurance policy that protects you in addition to the one already in place that protects the seller and the bank. This additional cost must be factored in to your calculations.

Technically, selling a home in this manner is contrary to the terms of the mortgage the seller agreed to when he or she took out the loan in the first place. This type of transaction can activate the due on sale clause’ of the mortgage. This means the bank has the right to call the note’ or demand immediate pay off of the loan.

Due on sale clauses are rarely called. However, they may be called more frequently in the future. Bad subject to’ arrangements will do little to alleviate the current foreclosure crises. Unqualified investors doing these deals may make it worse. If this happens we anticipate that banks will begin to try and actively prevent these transactions from taking place.

Another reason that due on sale clauses may be called more in the future than in the recent past is that interest rates are higher now than they were when this became popular. There is more incentive to cancel a low interest loan and replace it with a higher interest rate loan. We suggest that all investors have some type of back up financing secured in the event the due on sale clause is activated.

What if all you had in your portfolio were subject to’ loans, and the banks decide to purge all unwanted or unqualified loans because they are trying to put an end to this practice? If this happens, and if you cannot replace those loans with your own financing, you will in all likelihood lose all of your equity. In addition, you will have extremely angry sellers on your hands not to mention the tenants or rent to own purchasers who suddenly find themselves being served eviction notices. It is easy to see a scenario that lands the investor in court for any number of transgressions

This may sound extremely far-fetched, but again, as interest rates rise and more of these deals fail, the banks will push back. In any case, the prevalence of this practice means that banks are writing fewer loans. That is in direct opposition to their business model. Their goal is to finance as many properties as possible.

Here is another doomsday’ scenario. What if at some point your seller talks to a friend or lawyer who advises them, rightly or wrongly, that this situation is no longer in their best interest? They advise your seller to get the loan out of their name. At that point, you will be notified that you need to obtain your own financing. If they really want their name off the loan, they can also call the lender and let them know that they no longer own the property and that they should activate the due on sale clause. Again, far-fetched, but worth being aware of.

We are not suggesting that well informed investors cannot purchase properties this way successfully and do very well. We know lots of people who buy subject to’ and make a lot of money doing it. They avoid closing costs, they have low interest rates, and they have the flexibility to sell when they want to sell.

We are suggesting that Investors exercise caution when considering the risks and rewards of this type of investment. Do not overestimate the savings created from buying subject to’. A great interest rate will not allow you to overpay for a property and still make money. Buying subject to’ should be another tool in your tool box, and potentially a good supplement to your other purchase strategies.

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March 11

A mortgage tends to be one of the most costly

A mortgage tends to be one of the most costly things a person will ever pay for – so it is no surprise that so many people are keen to save money on it.
There is always a great deal of competition between mortgage suppliers – all claiming to offer the cheapest arrangement – yet it can be very hard to know which option will save you money, particularly when external circumstances will often dictate whether or not your decision will land you with a saving or additional costs.
But consumers should not respond to this oft-complex choice by burying their heads in the sand and simply picking the first home loan offered to them, as there are ways of saving money on a mortgage. Here are three potential ways in which to cut your property outgoings:
Fixed or tracker?
As a mortgage applicant, one of your most basic decisions will be whether to opt for a fixed-rate mortgage (one that stays at a certain rate throughout the specified term) or a tracker (a deal that will track a figure – usually the Bank of England base rate – by a certain amount).
At its heart, the question is whether you think overall lending costs are likely to go up during the term of your mortgage – if you think they will rise significantly then a low fixed-rate option may be best, whereas a tracker is often better if you are convinced the rate will stay as it is or go down.
But you need not rely on our own investment speculation knowledge for this – a meeting with an independent financial adviser should allow you to gauge the mood and make an informed decision about which is likely to be cheaper.
Previous mis-selling
In some cases, a person may be able to make a mis-sold mortgage claim. While it does not reduce the cost of your current deal, you can use the compensation to take off your current payments. There are a number of examples of mis-selling that may warrant a claim, for example, if you were sold a sub-prime deal without being in arrears.
A Financial Services Authority investigation in 2008 has meant that people who have taken out a mortgage since November 2004 may be able to put in a claim if their circumstances fit.
Specialist and temporary deals
There are a wide variety of more specialist mortgage arrangements – such as offset mortgages – that may suit certain types of borrowers and discount deals that generally benefit the majority. The problem is that a provider will generally withdraw or amend the terms of a product that starts to get a lot of interest, so the key is to be one of the first to it.
The only way of doing this is to keep your ear close to the ground; don’t just wait for your mortgage end date before looking at alternative borrowing deals – always be on the lookout for terms that will save you money.

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March 7

There has been talk in recent weeks about the possibility

There has been talk in recent weeks about the possibility of the U.S. government nationalizing some struggling banks, like Bank of America or Citigroup. While Federal Reserve Chairman Ben Bernanke has said that is not the government’s plan, political pundits and economic analysts aren’t so sure.

As Bernanke faced the House Financial Services Committee in a recent hearing, he told Congress that nationalization “is when the government seizes the bank and zeros out the shareholders and begins to manage and run the bank. And, we don’t plan anything like that.” Yet American taxpayers are about to become the biggest single shareholders of Citigroup.

As the Obama administration prepares to put banks through a so-called “stress test,” the end result could be a greater government stake in several banks. If a stress test reveals that a bank needs more capital to function properly, the government will step in to help. One form of that help could be converting preferred shares to common shares owned by the government. So, what is the difference between this and nationalizing banks?

Many economists have pointed to what is called the “Sweden Solution” as a model for bank nationalization. In the 1990s, banks in Sweden faced a similar crisis of toxic debt until the government swooped in and forced the banks to write down their bad debt. The government gave the banks money under rather strident conditions and eventually profited from their equity stakes in the banks.

The difference between the U.S. bank bailout currently underway and what took place in Sweden over a decade ago may be a matter of semantics. The latest term being bandied about is “zombie banks.” A zombie bank is one that is more or less bankrupt, unable to cover their debts, and is essentially being kept alive by the government. Bernanke has said that he does not know of any zombie banks in the U.S. at this time. Many analysts, like New York Times columnist and Nobel Prize winner Paul Krugman, would argue that AIG is a perfect example of a zombie financial institution.

As Krugman said in a column this week, “So why has this zombie idea — it keeps being killed, but it keeps coming back — taken such a powerful grip? The answer, I fear, is that officials still aren’t willing to face the facts. They don’t want to face up to the dire state of major financial institutions because it’s very hard to rescue an essentially insolvent bank without, at least temporarily, taking it over. And temporary nationalization is still, apparently, considered unthinkable.”

Even Alan Greenspan, the former Federal Reserve chairman, has said that it’s possible a temporary nationalization of some U.S. banks may be necessary. Proponents of nationalizing some of the big banks, like Krugman, make it sound very straightforward. He uses the Federal Deposit Insurance Corporation, which has had to seize hundreds of insolvent small banks. “When the F.D.I.C. seizes a bank, it takes over the bank’s bad assets, pays off some of its debt, and resells the cleaned-up institution to private investors. And that’s exactly what advocates of temporary nationalization want to see happen.”

Unfortunately, few things are straightforward or easily resolved when it comes to the current economic crisis.

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March 4

Purchasing a home is incredibly exciting and stressful. Knowing as

Purchasing a home is incredibly exciting and stressful. Knowing as much as possible before you purchase is the key to reducing stress.

Getting A Mortgage From Beginning to End

The mortgage process can often be a confusing one. Most homebuyers are interested in their dream home, not their lender. Throw in endless forms and document requests, and the mortgage process can quickly become miserable. Here is an overview of how it works, which will hopefully cut down on your stress.

Searching for the best loan is the first step. The best loan for you is entirely dependent upon your situation. A low interest rate may be a key for one person, while a low down payment might be critical for another. Other factors include your credit score, length of the loan and so on. I highly recommend you don’t apply with the bank where you have a checking account. If they know it is your first loan, you are going to get a poor deal. Shop around or use a mortgage broker to do so.

Getting pre-approved is not a required step, but you should do it. This single step will cut the stress factor of buying a home by at least half. Instead of sweating your loan application during escrow, you can relax because you are already approved. This free time gives you the opportunity to nag the seller for breaks on the home purchase.

The next step is to file a mortgage application. Many people make the mistake of providing the minimum amount of information possible. Don’t. If you have credit problems or some other negative, the lender will find them. Provide as much information as possible on your application.

Part and parcel with your application is supporting documentation. This is where a mortgage broker can really help. A lender is not going to take you application at face value. Unlike applying for a credit card, the lender wants to see supporting documentation. You will commonly be asked to submit tax returns, pay stubs, bank account statements, investment account statements and so on. The lender will inevitably lose some of these and ask for them again. Welcome to the mortgage loan process!

Appraisals, inspections and title searches will next be ordered on the property. The lender wants to make sure the seller has the right to sell it, the home is in good shape and it is worth enough to justify the loan. There isn’t much you can do during this step, so relax.

At this point the loan is processed to get everything in shape for the underwriter review. The underwriter is the buck stops here person for the lender. The underwriter will approve or deny the loan. They may also ask for additional information or offer adjusted terms. If this occurs, you can make counter offers.

Assuming the loan is approved, commitment time is the next step. Yep, you will sign the loan documents. This sounds simple, but many people can’t help but get nervous about committing to the repayment of hundreds of thousands of dollars. Just do it!

Assuming everything is going well with the purchase, the next step is closing. The lender will wire money to the title company, escrow will close and you are the proud owner of a new home and hundreds of thousands in debt!

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March 2

The combination of an iffy economy, declining property values, and

The combination of an iffy economy, declining property values, and high-pressure sales techniques on the part of timeshare sellers has resulted in large numbers of people wishing they could dispose of their timeshares.

Most timeshare buyers are reassured, in the purchase discussion, that their timeshares will hold their value and will be easy to sell should their circumstances change. But that’s not likely, as many timeshare owners find to their dismay.

Many people think timeshare owners can simply turn the timeshare back or walk away from the contract without repercussions. Wrong! A timeshare is treated the same in terms of law as regular real estate. A timeshare is foreclosed in the same way as a home mortgage. The only difference is that a timeshare foreclosure is also a consequence if your timeshare property is fully paid off and you are obligated only for the maintenance fees.

What happens if you’re unable to keep up payments on your timeshare? That varies depending upon the terms of your particular contract and whether yours is a deeded timeshare or a right-to-use agreement. But the general pattern is that your timeshare resort’s collection company will begin calling when your first payment is missed, late fees will be imposed, and within a few months, the Internal Revenue Service may be notified of your payment status.

Timeshare companies aren’t keen to foreclose, so some time will elapse before proceedings will begin in most cases. During this time, some resorts will be amenable to negotiate a satisfactory arrangement, such as lowering the payments or amount due on the principal, reducing maintenance fees or making them due every two years, or adding perks to your timeshare package. Some may offer you the chance to sign over a Deed in Lieu of Foreclosure. But don’t count on it. This is a time when it’s a good idea to seek the services of a qualified timeshare lawyer.

If your timeshare company proceeds to foreclosure, you aren’t going to emerge unscathed. You’ll receive notice that your timeshare will be sold at a public auction or trustee’s sale. This is a legal proceeding, a matter of public record, which will be reported both to the IRS and credit bureaus. There goes your credit for the next seven years: you’ll find it difficult, if not impossible, to finance a car, get a loan or buy a home. And that’s not the worst of it: a trustee’s sale or auction rarely raises the amount that’s owed, including late fees, by the time a timeshare property is foreclosed on. Your timeshare company can still take legal action against you, suing for the balance owed.

All of this is a matter to think carefully about before you commit to a timeshare. If you have one, and find yourself in the crunch because of an unanticipated change in your circumstances, a marriage dissolution, job layoff or major medical expenses, for instance, you’d be well advised to seek legal counsel and review your options before you miss your first payment.

If you would like information on how to avoid timeshare foreclosure without hiring an expensive timeshare lawyer visit www.ProfessionalTimeshareServices.com and request a free consultation.

For every timeshare owner who finds owning a piece of a resort or holiday chain a great deal, there’s at least one who’s having second thoughts. One of the techniques in the arsenal of the sales staff of many timeshare resorts is the staged sale.

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February 28

When can a 100 point difference – in anything -

When can a 100 point difference – in anything – cost you $10,000? For starters, a drop in your credit score by that amount can potentially affect your mortgage rate, so that over the life of the mortgage, the total amount that you excessively spent could easily be $10,000 – or even greater. Even worse, a poor credit score can prevent even qualifying for a mortgage.
So what are homebuyesr to do when they’re in the process of getting a mortgage and they’ve already started the paperwork on his/her dream home? They could try a process known as rapid rescoring. If there’s an error on the credit report, or if the homebuyer hasn’t managed his/her finances and debt properly, the credit score can actually be increased through this process, often by substantial amounts. The process itself can take place in a matter of days.
Here’s how rapid rescoring works: If there’s a mistake on your credit report, you have to verify that it is an error. Rapid rescorers can assist in this process. They first identify the errors, research the mistaken entries and documents the paperwork. Then, the rescorer contacts the 3 national credit bureaus and requests their verification. In a period of 24 to 72 hours, the homebuyer’s credit report is corrected and seemingly overnight, the credit score can go up, oftentimes, by 100 points or greater.
In addition to correcting errors, a rescoring expert can help restructure the applicant’s debt to improve the overall score. For example, say you have three credit cards, and one of them is near the limit, but you hardly use the other two. By transferring some of that debt to the other two cards, you may be able to improve your overall score. Why? Credit scoring models are typically biased against consumers who are near their credit limits. By simply reshuffling and reallocating the balances in the charge accounts, the applicant can achieve a higher credit score.
So if you feel like you mistakes in judgment can lead to blemishes in your credit report, and can also lead to a higher mortgage rate, you’re absolutely right. But do realize that options are available to get your credit score down to where it should be, options that should be pursued through a qualified mortgage professional. Pursuing this option can save you not only a considerable amount of money, but a considerable amount of anguish as well.
For more information on rapid rescoring as well as residential mortgages and loans, contact one of our one of our Licensed Mortgage Advisors at Bond Street Mortgage, a leading Residential Mortgage Lender in New Jersey at 201 282 5016.
James M. Di Piazza

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February 23

Scenario: My father has been through financial problems throughout his

Scenario: My father has been through financial problems throughout his life. 10 years ago, he and my mom have had negative credit scores due to past uses with the IRS and he even had his wages garnished. However he could scrape by and later on I helped him out by buying a home with a mortgage thereby having my name both on mortgage and title. I knew I would end up selling the property if they didn’t make payments on the mortgage as my security and I could always deduct the mortgage interest on my returns. He promised to pay off the mortgage within 2 years and in return I would give away the property to him right after that. But it’s over 6 years and the loan isn’t paid off.
I have had to take out cash from my savings to keep the payments on time. The property has gone up in value over the years but my relationship with my dad has worsened. He feels I’m into stealing his money which isn’t true. My dad wants me to sign over the property to him. And he’s also looking for lenders to refinance the loan as the quitclaim would leave the mortgage payoff responsibility entirely on my shoulders. I’d like to make sure that my name is removed from the mortgage debt if at all I transfer the property and would like to know about the tax implications. Is such a transfer possible using a quitclaim? I don’t want to sell and out him in a precarious situation because he can’t make payments as he’s on social security only and in order to save a bit more, he’s looking for a refinance.
If you’re looking to take your name off the title, you need to execute a quitclaim deed approved by your state and sign it over to your father. But, prior to recording the deed, get it signed by a notary public.
However, while you transfer the property using a quitclaim deed, your responsibility towards the mortgage doesn’t end as the deed does not free you from the mortgage payment liability. So, here’s why your father needs to do a refinance. While he refinances the existing loan with a new one in his name alone, yours is taken away from the loan doc and therefore neither are you on the title nor on the loan.
As far as taking your name off the loan is concerned, you can also request your father to talk to the lender and look into the chances of a Novation – a process by which you can simply transfer the loan to your father. But given the fact that your father has had credit and finance problems, depending upon how long they have been affecting his credit and finances, he may or may not be allowed a Novation.
However, refinance can still be a possibility if he’s looking for a reverse mortgage. But in order to qualify, he needs to be 62 years and above. Also, if your father has good amount of equity in the home, he’ll be able to get a higher loan amount with which he can pay off the current mortgage. Moreover, the property should be his primary residence and as such he needs to have his name on the title. And that’s possible only when you sign over the quitclaim deed.
The best part of taking out a reverse mortgage is, one does not have to pay back on a monthly basis. The reverse mortgage needs to be paid back only when the last surviving borrower dies or sells property or moves out.
Now, considering the tax implications of doing a quitclaim, well, if you sign over the deed, you’re the grantor and hence it’s your liability to pay taxes. If you quitclaim property without taking any money in return from your father, the transfer is regarded as a gift and the value of the gift will be the value of the property at the time of the transfer (here the value has appreciated). Now, if the value of the gift does not exceed the annual exclusion limit of $12000 (for 2008) per year per person then the donor (here it’s you) need not pay federal tax on the gift.
However, if the value of the gift exceeds $12000 and you have already given up $1,000,000 in gifts in total till now in your life, you’ll have to pay the federal gift tax. Otherwise you need not have any tax liability as such upon transfer of property. The total gift amount of $1,000,000 is the lifetime exemption for paying federal gift tax.
While the value of the gift at the time of transfer helps you decide whether to pay gift tax, it enables the recipient, your father, to determine if a deduction is available when he sells the property at a loss.

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February 15

Many borrowers facing foreclosure are exploring their options with mortgage

Many borrowers facing foreclosure are exploring their options with mortgage litigation, or taking their lenders to court. There is plenty of information available that informs borrowers about the risks and benefits of mortgage litigation, but few offer insight into what happens after the trial, or how any mortgage litigation verdicts will affect them. It is important to remember that the legal system is fluid, meaning that it changes constantly. One verdict in one case may not be the same as the verdict in a similar case. Different factors affect the outcome of a trial, including the individual judge, the ability of the attorneys to present evidence, and the testimony of the parties involved.

When a borrower takes their lender to court, it is usually over the fact that the lender is attempting to foreclose on the property of the borrower and the borrower is trying to fight them off. A borrower may also pursue litigation if the lender refuses to modify a loan when the borrower feels that they deserve the modification for one reason or another.

Each trial can have different results for borrowers. Most trials end in one of four ways:

–The borrower wins and has all of their demands met, which usually includes a modification of some kind and more often than not the forgiveness of portions of the debt.

–The lender wins and is allowed to proceed with the foreclosure if the borrower can’t pay the necessary debt.

–The case is dismissed for lack of evidence. This usually doesn’t happen since attorneys are pretty good about compiling evidence before a trial, but if a person attempts to sue their lender on their own and fails to gather a satisfactory amount of evidence, they risk having the case dismissed and losing out on the chance to save their home.


–Both parties are forced to compromise. Neither party gets exactly what they want. An example of a compromise might be a judge ordering the borrower to pay the entire requested amount of debt to the lender but allowing the borrower to pay back the amount at a much slower pace than the lender would like.

Once the mortgage litigation verdicts have been handed down, both parties are expected to comply with the decision of the court immediately. If a verdict in favor of the borrower is delivered, the borrower will either be granted damages, a modification plan, or a combination of the two. If the verdict is granted in favor of the lender, they may continue with whatever collection actions they were pursuing before the litigation, which could range from debt collection all the way up to foreclosure of the property. While the case is in litigation, which is before the verdict has been delivered, the borrower is not required to make payments on the loan in question and the lender is required to put a pause on all collection efforts. The lender may not report the non-paying status of the borrower during litigation for the loan in question. This protection is only extended to the loan or mortgage in dispute. This means that if a borrower has a car loan and a mortgage loan through the same lender, and pursues litigation for the mortgage loan, the borrower is still required to make payments on the car loan each month.

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February 14

According to one of the largest UK life insurance companies,

According to one of the largest UK life insurance companies, just 1% of life policies are written in trust. That is disgraceful and reflects poorly on the financial industry.

Let’s explain.

If your life insurance policy is “Written in Trust” then, in the event of a claim, the insurance company pays out directly to the beneficiaries you name on the policy. The significance of this is easily missed.

It means that if the policy is “Written in Trust”, the proceeds from the policy never form part of your legal estate and are not subject to Inheritance Tax. The importance of this is illustrated by the following figures:

Take Mr A. He’s a widower and wants to leave everything equally to his two sons. He owns his home which is currently worth 245,000 with a 10,000 outstanding mortgage. His investments are valued at 52,000 and his car and other chattels are worth 18,000. He also owns a life insurance policy for 100,000 which is not written in trust. We assume that the costs of administering his estate and obtaining probate would be 5,000.

If Mr A were to die now, his estate would be worth 400,000 less Inheritance Tax. Inheritance Tax is currently levied at 40% on the value of his estate over and above 275,000 – that means that the taxman will walk off with 50,000 and his sons would each receive 175,000.

Now lets assume exactly the same figures except that in this case the life insurance policy is “Written in Trust” with Mr A’s sons as equal beneficiaries. Because the life insurance company pays out directly to his sons, they each receive 50,000 straight away and non of the money is included in Mr A’s estate. This means that his estate is now worth 300,000 and the taxman can only walk away with 10,000. Each of his sons receives 20,000 more and tax-free!

So simply by signing a few forms, Mr A saves 40,000 tax!

Is there a catch? No – all the documentation is standard and is provided totally free of charge by the life insurance company. Your broker through whom you buy the policy, should complete the documentation for you, again free of charge. All you have to do is give the details of the beneficiaries to the broker and sign the form. Solicitors are not required. In the event of a claim, the life insurance company then has to pay out directly to the beneficiaries. Job done! Poor Mr Taxman!

Even if your policy is designed to repay a mortgage, it should be “Written in Trust” for your partner. Then, rather than your estate receiving the money and using it pay off the mortgage, the money can be paid directly to your partner. This saves legal delays, solicitor’s and probate fees and loads of hassle. Your partner can then use the money to personally pay off the mortgage. Whether this also saves you Inheritance tax will depend on the value of your estate and how you have structured your Will.

So we believe that a life insurance policy “Written I Trust” is a win win situation. And there aren’t many of those around these days! We can’t see any drawbacks.

Bye the way, no matter what you decide to do, always ensure that you have an up-to-date Will.

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February 8

It may surprise you to know that not everyone is

It may surprise you to know that not everyone is as enthusiastic about Balance Sheet Analysis as I am… And yet, a few minutes a month spent looking at your Balance Sheet could make a difference between success and failure for your business!
Those “secrets” alluded to in the article title are hidden only to those who don’t know where to look. So, let me show you just a fraction of what the Balance Sheet can tell you about your business and how it wan warn you about possible dangers ahead.
Solvency Ratios – Red flags to look for before it’s too late
The solvency ratios are meant to show us whether the company can sustain itself long-term. In other words – whether it is solvent, or not. And even before then – they show us whether the company is carrying too much debt. And that is a red flag you do not want to miss! One of the hardest things to watch is when an otherwise good company struggles because of excessive debt.
The first solvency ratio we will cover is:
Debt to Asset Ratio = Total liabilities / Total Assets
Debt to Asset Ratio will show you how much of the company’s assets is financed through debt. In general, anything over 100% is risky. In fact, if your debt to asset ratio is higher than 100%, it is the equivalent of being upside down on your mortgage.
Companies with high debt to asset ratios are placing themselves at risk, especially in a market with increasing interest rates. Creditors will start to get worried, if the company carries a large amount of debt and may demand that some of it is paid back.
Our second solvency ratio is
Debt to Equity Ratio = Total liabilities / Shareholders Equity
Debt to Equity Ratio shows the proportion of equity and debt that the company is using to finance its assets. Sometimes only long term debt is used instead of total liabilities for a more stringent test:
Debt to Equity Ratio = Total Long-Term Debt / Shareholders Equity
This ratio is also often described as an indicator of financial leverage.
If debt to equity ratio is greater than 100%, it means that the assets are primarily financed with debt. If it is less than 100%, it means that equity provides a majority of the financing.
If debt to equity ratio is high (the company is financed more with debt), it means that the company is in a risky position – especially if interest rates are on the rise.
Just a reminder – as with any other financial analysis, we need to look at the whole picture when evaluating any single balance sheet or profit and loss ratio. The age of the company, the stage the company is at in its growth cycle, the management team in terms its of risk-aversion or risk-friendliness, their financial resources – all of it needs to be considered.
I encourage you to look at your balance sheet ratios, and in particular your solvency ratios regularly. They are very easy to calculate – it won’t take you more than a few minutes and yet the information is indispensable. Once you get in the habit of analyzing your Balance Sheet regularly, you won’t believe you didn’t do it before! You will never again allow yourself to accumulate debt to become more leveraged than you intended to. You know that it can get pretty tricky and difficult to get out of, especially in the current economic climate.

February 8

I was introduced to United First Financial and their mortgage

I was introduced to United First Financial and their mortgage acceleration program at a Business Networking International chapter meeting. There was a man who was an invited guest who was explaining how people could build equity in their home more rapidly simply by using the web-based software. They didn’t even have to change their lifestyle or cut back on spending. Being a licensed mortgage broker, I wanted to hear more.

As the agent explained, the program which sells for $3,500.00 is web-based, and would help people pay their mortgage in about a third to half the time. He also explained that they would be able to do this without changing their spending. I wanted to know more about the product so we scheduled an appointment.

We watched a DVD during our appointment. It covered that, by someone using their discretionary funds more wisely, they could pay the remainder of their 30 year mortgage in about thirteen years. Sure sounded interesting to me. He also explained that as a mortgage broker I could earn a lot of money selling the software.

A few days later I received a call from another member of the BNI chapter for some advice. Should she and her husband take out a Home Equity Line of Credit (HELOC), pay off all of their credit cards, purchase the software, and potentially pay off the eleven years remaining on their 15 year mortgage in less than seven years? Well the obvious answer is yes.

Some other questions I have are these. How does the software project what is gong to happen down the road? What if there is an economic collapse, or if a family’s job or income situations change? And if there is an emergency what if all of your cash is tied up in your home because the software advised you to make prior extra payments? Seems your only choice might be to refinance the mortgage and that would cost you more money.

As a licensed mortgage broker, I’m also concerned about the qualifications of those selling the program and giving mortgage-related advice. If your home is your most important asset, do you want someone who was selling health care products last week giving you this type of advice?

United First Financial is a Multi Level Marketing business opportunity. The company gets $1,000.00 of the $3,500.00 sale. The remaining $2,500.00 is divided into commissions, overrides and bonus pools for those at the “branch manager” level and higher. You split the commission for your first few sales with your sponsor. Please keep in mind that the effort is yours, you’re scheduling appointments and sponsoring new people, and your sponsor is benefiting until you are qualified for full commissions and “training bonuses” The compensation package seems top heavy. Also your appointments are face to face if you enjoy this type of business.

My advice would be to consider just adding more money to each monthly payment if you want to pay off your mortgage faster. If you take a 30 year fixed rate mortgage at 6% on $200,000 your monthly payment is $1199.11. If you were able to pay an extra $233.76 each month, you would pay the mortgage in 20 years.

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February 4

The subprime market is undergoing a major change due to

The subprime market is undergoing a major change due to the recent narrowing of lender guidelines regarding applicants. Why in particular is the subprime market being targeted? Perhaps this is because the subprime market tends to experience more problems with meeting their loan obligations than other markets.

Individuals who have to acquire a subprime loan typically have a spotty credit record, no credit record at all, or a bad credit record. No matter how you look at it, any lender who has the inclination to lend money to someone like that is taking a risk. Unfortunately, that risk is often realized in the form of defaults, bankruptcies, and foreclosures.

The narrowing of guidelines effectively narrows the pool of applicants. The guidelines are simply a set of rules that are used to determine who qualifies for a loan and who doesn’t. Hence, if the guidelines become more restrictive, the risk is lessened for the lenders along with the size of the qualified applicant pool. In essence, the individuals who are the biggest risk will no longer be able to acquire a loan.

In effect, the true suppliers of the money that is provided for subprime loans are looking to decrease their risk regarding their mortgage portfolio while increasing their profit. If the guidelines aren’t changed swiftly enough, lenders who are caught in the crunch may have to close their doors. Fewer lenders means less competition and quite possibly less favorable terms for the borrowers.

Guidelines typically involve looking at the borrower’s credit score, the amount of the down payment, the individual’s track record for credit accounts, and work history. Up to now, these have all been flexible and rather tame. Times are changing though, and the mortgage industry is about to crack down on individuals who don’t know how to manage their money.

An A paper loan is one that is given to a borrower who has the highest credit rating possible. It offers the most favorable terms including the lowest interest rates, the fewest points, and the least amount of other conditions attached to the loan. With the changes that are set to become standard at some lending agencies, A loans will be easier to acquire for some, and subprime loans are going to become more difficult to acquire.

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January 28

The most important activity when deciding to pursue a short

The most important activity when deciding to pursue a short sale deal is to determine whether or not the homeowners situation would qualify for a short sale approval. If this task is not done, you could be working on a “dog” deal that has no chance of closing, therefore wasting your precious time you could be spending on a deal that has a high chance of closing. WHB Solutions has implemented this very important task within their pre-qualification strategies that has been proven to get 90% lender approvals on short sales.
WHB Solutions started focusing their efforts on short sales over three years ago when short sales were even harder to close and fewer short sale opportunities. Therefore, we took all deals that came in to our office. On the one hand we wanted to work every short sale deal we could get our hands on to understand what it takes to close a short sale deal in today’s market. In the process of working every deal, we learned that some deals were worthless to spend our time on and now select deals that have a high chance of closing.
The fact is that there are and will be too many pre-foreclosures to save and there just isn’t enough qualified people to help these troubled homeowners. Therefore, all we can really do is to help the ones we know we can help. The homeowners we cannot help are referred to a professional that can help find other options such as bankruptcy.
One step of our proven pre-qualification strategy that gets our 90% lender approvals, is qualifying the homeowners situation. About a year ago, lenders would not consider a short sale of your home unless you were late on your mortgage. Now more and more short sales and getting approved with the borrower still being on time. Also, lenders were only considering properties that were of primary occupancy, whereas now they are considering investment properties.
To qualify the homeowner for a short sale, their situation must meet one of the following:
Property hardships
These are reasons that related to the home. Being in a dangerous neighborhood does not qualify as a hardship.
* Value of home has dropped below the balance of the mortgage
* Damage to Property (natural disaster or unnatural)
Seller has experienced financial hardships
Any reason that will cause the Homeowner to be in or soon be in default of their mortgage.
* Adjustable Rate Mortgage Reset- Payment Shock
* Loss of Job
* Reduced Income
* Failed Business
* Medical Bills
Seller has experienced personal hardships
Reasons that affect their ability to continue making their mortgage.
* Illness
* Job Relocation
* Death of Borrower, Spouse or Co-Borrower
* Incarceration
* Divorce or Marital Separation
* Military Duty
Here are examples that would not qualify for a short sale.
* Overextending your investments purchases
* Having a co-borrower that such as a father or mother, who have income and assets to cover the mortgage
* Property being in a dangerous or poorly developed neighborhood
* Wanting to buy another home of lower value
* Wanting to rent and save money
* Being pregnant
The above mentioned hardships are mentioned as a guideline to use with most lenders. They are not the only ones that can be used to get a short sale approved. If you feel you have a unique hardship situation, you may try selling the lender on the hardship to see what happens. Sometimes a lender may make a decision to approve a short sale other than the provided hardship reason. For example, if the net loss to the bank is acceptable and the company is in a position to recover funds to continue operations, they may approve the short sale to recover their money and use it for a purpose with a higher return in value.
If you would to learn WHB Solutions’ complete proven pre-qualification strategies that get us 90% lender approvals, visit www.whbsolutions.com.

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January 21

The famous football player Ray Parlour and Arsenal had a

The famous football player Ray Parlour and Arsenal had a long battle to have their divorce settlements. The couples got married in the year 1998 and had three children. They had differences of opinion, and so they decided to get divorce. Following their divorce, Arsenal was granted with a capital award of 250,000. She was also provided with two mortgage-free houses worth more than 1,000,000. The court ordered Ray to pay 250,000 a year for maintenance. However, he was willing to pay only 120,000 per year. Arsenal was also not satisfied with the amount that the court had ordered. They both appealed further to reconsider the maintenance amount. This time the court ruled in favour Arsenal by increasing the amount to 406,500 a year.

The Parlour’s case has set precedence to all the divorce cases that deal with vast sums of money. Many lawyers are using the argument of Parlour’s case. By and large, an opinion has been created that if one spouse has greater income than required his needs, his or her spouse can have a claim. It could have a larger impact on any professionals with higher income. The three senior judges in the Court of Appeal had granted this kind of award, in order to extend the principle of equality in the financial awards in the cases of persons having surplus income also. Parlour’s case has provided an opportunity to various other couples to put forth arguments in court based on this line, to get a higher financial award from the court.

Another similar case was WPP Group Chief Executive Martin Sorrell’s divorce with his wife Sandra after more than 32 years of married life. He was ordered to pay around 30 million pounds in settlement. Of that, around 23.5 million should be in cash and the remaining was the two underground parking spaces at London’s Harrods departmental store.

Ally McCoist, a footballer, was also caught in the court battle with his wife Allison. They both were fighting for a 5 million divorce battle. Allison quoted unreasonable behaviour of McCoist as a ground for divorce. The couples had differences of opinion after 12 years of their married life. McCoist had admitted to his wife that he had illegal affair with an actress. Provoked by his affair, she filed a divorce litigation. McCoist had been working as a football pundit in a television channel, and was earning more than 150,000 for a year. When he was playing football, he was earning around 18,000 a week. Apart from this he was also earning around 100,000 per year on BBC1′s A Question of Sport. When the hearing was going on in the case in Edinburgh, McCoist failed to turn up to the court. However, his solicitor later produced a medical certificate stating that his client was ill. In the same manner, the football player kept on dragging the issue by quoting many absurd reasons. At last, the judge warned the celebrity couples to settle down their financial issue, or else they would have to face their dirty laundry aired in public.

Another popular case that was the talk of the town, for a long period, was the divorce case of Princes Diana and Charles. Diana, the most famous woman in the world, was accused by her husband, as committing adultery. They got divorced on 28 August 1996. Though the divorce issue was initially suppressed, later it was the point of focus, by the media that earned huge money by publishing and telecasting the same issue over and again. The speculations were that they both had a premarital affair.

Diana, the iconic presence on the world stage, though noted for her charity work, her charitable deeds were overshadowed by her marriage to Prince Charles. Various chapters of her private life riveted the world, in 1990s through many books, tabloid newspapers and other articles in almost all magazines, and even in television movies. The rose of the England was a fashion icon and was admired all over the world. Her divorce stories were published across the nation and it kindled the interest of the people.

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January 18

An Honest And Critical Primerica Review (Don’t Join Before Reading!)

An Honest And Critical Primerica Review (Don’t Join Before Reading!)

An Insider’s Perspective From A Former Primerica Regional Vice President & $200K/Year Ring-Earner

Primerica (formerly known as PFS/ALW) is a financial services company that uses a Multilevel Marketing model. Over the last 33 years, the company has produced a multitude of 6-figure and 7-figure a year earners. In early 2010, Primerica went public after breaking ties with Citigroup, it’s long time parent company. Currently, the sales force is made up of 100,000 licensed reps. Primerica is a legitimate business opportunity and has maintained a good rating with the Better Business Bureau.

However, there are some very significant pros and cons to Primerica’s Opportunity. In this review, I’ll give you a brutally honest Primerica Review, list the pros and cons of the business and address the question of whether or not it is a viable opportunity for the average person to make a significant income.

First, let’s start with the Pros:

1. Primerica gives someone with NO experience at all in financial services to join the company and get licensed and certified to market financial product.

2. Primerica offers a part-time opportunity for it’s reps. This is a huge feature since agents can learn the business at their own pace while making income from their jobs.

3. Unlike most Multilevel Marketing opportunities, someone can make a decent income by personally marketing products like insurance, securities and mortgages.

4. Primerica provides a lot of support, mainly due to the training available vie RVP-run local offices.

5. As mentioned earlier, Primerica has one of the most documented track records in the industry and has produced many 7-figure a year earners. Currently, there are almost 70 leaders in Primerica that make $1,000,000 or more in yearly income.

Now, let me give you the Cons…

1. The product training is basic, which is sad for some clients that are being serviced by new reps. As for me personally, I would not want my families finances handled by a financial rep that has little to no experience.

2. Primerica pays a much LOWER commission to reps when compared to what they can make if they were an independent financial services rep.

3. At Primerica, you’re a “captive” agent. In other words, you can’t offer other company’s products and your clients are NOT your own. Without the ability to shop around for the best possible products for your clients, you may be selling them products that aren’t suited for them. While shopping around is a regular practice by independent reps, it is strictly forbidden at Primerica.

4. You lose approximately 80% of your team’s recruits because of licensing. The company stats indicate that ONLY about 20% of incoming reps pass their life insurance exams. What about the eighty percent that don’t pass their exams? Basically, they fall through the cracks and become a statistic. Imagine building a group that is recruiting 100 new people on a monthly basis. Think about this, out of those 100, 80 were people you couldn’t build with because they coudn’t pass their state tests for whatver reason.

5. This is a important part of the comp plan that isn’t shown in the presentation – When you get promoted to RVP, you give your best one or two legs to your upline RVP. This is known as “ownership exchange”. Imagine, working your tail off to earn your Regional Vice President promotion, only to pass up your best leader(s) to your upline and starting the building process all over again… Only this time around, as an RVP, you have office expenses to worry about and you are full-time with no other sources of income. By the way, Primerica requires it’s RVPs to be full-time and forbids them from making money elsewhere. This is extremely important to know if you are seriously considering the Primerica Business Opportunity.In other words, if you are interested in building multiple streams of income, you can forget about it once you hit the RVP position.

In closing, Primerica is a legitamite opportunity where someone can learn how to sell financial services and build their own MLM team. Just be sure to do your due diligence on the compensation model so you know exactly what’s in store for you.

So… Should You Join?

If you’re looking for a business that doesn’t require HOURS of financial product training, the probability that you’ll lose a ton of people during the licensing exams and the fact that you have to give your upline your best leaders, then Primerica is definately not for you.

However, if you’re interested in the idea of recruiting financial reps and potentially opening up your own financial services office, then Primerica may be what you’re looking for.

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January 16

Many responsible people have little credit history because they believe

Many responsible people have little credit history because they believe in paying as you go. This can work against when you go to buy a home. Lenders want to know that you will be responsible to pay back debt. This is what you can do. Keep records for 12 months of paying your bills on time. This can mean the difference between getting that mortgage and building equity, or continuing as a renter. In fact, loan officers will appreciate receiving proof that you have paid a variety of accounts regularly and on time. Even if you do not have little credit history, or your credit report isn’t stellar good record keeping may qualify you for a home mortgage.

Record Your Bills for 12 Months before Home Purchase

Having several different types of accounts will help you prove that you are a financially responsible person and will pay your mortgage promptly. Records of payments to your utilities, phone service, rent and even your children’s day care show proof of your fiscal dependability and offer alternative credit history. Keep records of any type of bill that you pay on a regular basis, even music lessons. Future home buyers should make these payments by personal check as an official record. Then, your bank statements will provide proof of these monthly payments, unlike cash or money orders.

FHA and VA Loans Seek Home Buyers with Alternative Credit

If you have little credit history and wish to purchase a home, your loan officer may tell you that Federal Housing Administration (FHA) or Veterans Affairs (VA) loans could work for you. These types of loans do not depend entirely on your credit score for approval..

In fact, the FHA loans do not require a credit report for approval; FHA’s goal is to help working people with lower credit scores own homes to buy a home. Many first-time home buyers, people with a bankruptcy (more than two years ago) or a foreclosure (more than three years ago) find obtaining an FHA loan feasible. However, the prospective borrower must be able to show a history of paying rent on time for at least 12 months, up to three other sources of alternative credit, with no more than two over-30-day dings on a two-year credit report. Additionally, this loan only requires applicants to make a three percent down payment on their new home, so you should start saving if you think this is the loan for you.

Prompt Bill Paying Is the Best Way to Build a Good Credit History

Remember, if you want to buy a home in the future, but worry that you may have insufficient credit to do so, it is very important to pay all of your bills on time. Some companies may not consider your payment late until five to 30 days after the due date, so it is not unusual for consumers to consider paying these bills on or before the due date unimportant. However, if you need alternative credit to purchase your new home, don’t be complacent about paying your bills on time. You can improve your credit score and get a loan by paying every bill on or before the due date and keeping detailed records of those payments.

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January 12

Introduction Guatemala is offering a Pensionado program. This is

Introduction Guatemala is offering a Pensionado program. This is a permanent residency allowing one to live in Guatemala for the rest of their life. The Pensionado receives a Cedulla which is a national identity card that would allow the person to open a bank account in Guatemala without showing the passport from their home country. The Cedulla is a high tech digital ID card. The identity card can reflect a lawful name modification for additional banking privacy. With the Cedulla one can travel without a passport to five other central american countries, off the grid so to speak.

Time Frame The process takes approximately 2-4 weeks, so three weeks is a fair approximation of the time frame. One does have to be in Guatemala during the process. Five Star hotels run about $100 to $145 a night depending on the season. It is possible to stay in Antigua, Guatemala which is a lovely resort community (google Antigua Guatemala). A large steak dinner in a five star restaurant is about $20. You will find things cheap here.

Fee The complete fees are $8,000 for one person, $9500 for a couple. Each child is an extra $1000. Children must be under 18 years old. All fees are paid at the start of the application. Fees can be paid by cash or wire transfer. We do not take checks because they take longer to clear (30 days) than the program requires to complete.

Pensionado Economic Requirements The program is for retired or disabled people. There is no age restriction. One does have to show financial responsibility. An income of $1000 a month is needed. This is $1250 for a married couple. This is so stated in a declaration to the government. The income is proven with bank statements, stock broker statements etc. Income can be private sourced from investments, rental properties etc. It is a good idea to also present gold and platinum Visa cards as additional support for financial independence. You will not have permission to work as an employee for others. You can be self employed in your own business.

Guatemala Taxes Guatemala does NOT tax offshore derived income. Money coming in from outside of Guatemala is NOT taxed. Your pension, investments etc from outside of Guatemala are not taxed. If you had a shoe store in Guatemala you would pay taxes. There is a VAT of 15% on some goods. A plasma TV costs a few hundred dollars more than in USA. USA cars are about same price without the discounts which are better in USA. European and Asian cars are higher priced. Solid wood furniture is far cheaper than in USA and better quality.

Official Documents Needed One needs their passport, birth certificate and marriage license if married. If possible marriage license and birth certificate should be the more modern variety with seals etc.

Language Requirement None. You do not have to speak Spanish. It is a great idea to start taking spanish lessons ASAP when here or before. There are a number of computer programs that are excellent. Rosetta Stone is popular. We do advocate learning the language. Our law firm and staff all speak English well. The better hotels and restaurants will have English speakers. Most of the Doctors speak English. Many establishments do not speak English as well.

Rights in Guatemala You have the rights of a citizen except you cannot vote and cannot get a passport. As a Pensionado you are not supposed to seek work as an employee for others. This is not the purpose of the program. You can own property, start businesses, own corporations, have bank accounts, get mortgages etc.

Time to Become a Citizen The normal time is five years. After you are a resident for three years to can apply to have the residency time shortened to three years from the normal five years. Only citizens can have passports, not residents.

Cross Border Travel as a Resident There is a Free Border Treaty in Central America. With a Guatemala Residency ID card you can travel by land or boat into the following countries without any passport needed: Mexico, Nicaragua, El Salvador, Honduras and Belize. Costa Rica has signed the treaty but is known for not honoring it so don’t count on them. If you go by commercial airline you will need a passport. Your home country will not know where you are since the passport is not being swiped. You will not be able to open bank accounts in the other countries by just showing your national identity card (Cedulla), just Guatemala.

Name Change What can be done is the maiden name of your mother can be added onto your resident ID (Cedulla) as a third name. If you were Daniel Boone now and your mother maiden name was Smith you could now be Daniel Boone Smith. This is a lawful and customary practice in Latin America but of course optional. Now when you open your bank account in Guatemala it will be in name of Daniel Boone Smith and not reference your home country in the records. No lies and nothing illegal yet this allows you to fall through the cracks.

Guatemala Banking As a Pensionado resident in Guatemala you can have a bank account in Guatemala without showing a passport or any ID from your home country. NO passport needed. What can be done is the maiden name of your mother can be added onto your resident ID (Cedulla) as a third name. If you were Daniel Boone now and your mother maiden name was Smith you could now be Daniel Boone Smith. This is a lawful and customary practice in Latin America but of course optional.

Now when you open your bank account in Guatemala it will be in name of Daniel Boone Smith and not reference your home country in the records. No lies and nothing illegal yet this allows you to fall through the cracks. Guatemala has NO tax treaties for information sharing with any country. There will be no sharing of any banking information for tax reasons (any sort of tax or tax related case). Guatemala has no Mutual Legal Assistance Treaty (MLAT) with the USA, Canada, UK or EU Countries. This means sharing of information for criminal cases will be difficult.

Other Countries Pensionado Residency Programs – With the Panama Pensionado program there is a zero chance of ever opening a bank account without showing your home country passport. We know people who have tried this with a number of Panama Banks. The Panama banks are not allowed to take the pensionado ID or even a permanent residency ID to open a bank account. The cell phone companies in Panama will not open an account without one showing a home country passport no matter what sort of Panama permanent residency they have. All the panama residency programs, permanent, pensionado or otherwise, are nothing more than long term tourist visa, period. Panama residency ID’s of any sort do not allow for any cross border travel without a passport.There are very few Pensionado programs in the world today. There are residency programs. They usually take about six months to process a residency and one needs to remain in the country during this period of time.

Does One Live Free in Guatemala ? Oh think of it like the USA in the 1950′s. The police cannot come into your home without a search warrant. None of this “I heard a cry for help” garbage. Warrants from the patrol car radio are not happening. The police will need evidence of a violation of law to get a warrant. We did not say probable cause as in a reasonable person would deduct blah blah blah, that is USA not Guatemala. Not a common thing to see a search warrant issued here. If the police stop your car you can refuse to let them search it. You can also call your lawyer and wait until the lawyer comes and then the search proceeds, your choice. The police will generally be polite and a request to search a car would be like when there is an emergency and a roadblock scenario to catch fleeing felons who were shooting at police or something drastic. Not a common thing.

We have a kind of police called Transito. Traffic cops is what they are. They have no guns. They have cool yellow green uniforms with white helmets like Bermuda Police. They can only do traffic or auto equipment violations. Normally they will have a side of the road setup and look at cars to make sure they have a current sticker. They will check trucks to see if their loads are secure or not. When pulled they ask for driver license to make sure it is current. None of this – “where are you going, can I look in your trunk, do you have any weapons, have anything I should know about”. None of this happens with a traffic stop. If you do get a ticket just send your lawyer down to appear for you and pay fine. No point system. Very rare to ever see radar and never saw laser yet in Guatemala. People don’t even bother with radar detectors. Never saw any speed or red light cameras. They do offer parking tickets for parking violations and they can be generous in this area in some locations. Tickets are cheap, relax. Some towns like Antigua boot cars. Never park illegally in Antigua they love parking enforcement. Antigua has a special tourist police force that are on almost every corner when it is busy. They often speak English and you will find them very polite and eager to help. If you say you want leather belts they will even tell you where such a store that sells that is located.

The regular Guatemala police are called the black police (policia negro) because their cars and uniforms are black. They have guns. They do not work traffic and cannot pull you for traffic reasons. They are crime fighters only. They generally ignore you. The police will probably never show if you call them to come to your house or if they did it would take a lot of time. I never knew anyone to have their house robbed. We live in gated communities with armed guards. We have alarm systems. When the alarm goes off two ex military guys from the alarm company on a motorcycle come with guns. Often in about five minutes. One hides behind cover and the other walks around to see what is up. They have body armor and are serious fellows. So you have the armed guards in the community, some sort of fence, the alarm and now the alarm guards show up. Never knew anyone to have his home robbed.

The lawyers and court system does not work in a harassing way like in USA. This is not a society that likes lawsuits. Lawyers do a lot of contracts, real estate law, family law, criminal law but not a lot of civil litigation. If you go about your business and do not bother other people, no one will be bothering you. People here do not go out and start trouble with their lawyers like up north. People will tend to settle their differences more sanely here than the USA. That being said never ever sign any real estate agreement or any contract without a lawyer to review it. I think this rule applies anywhere. The freedom here is very noticeable.

Firearms A resident can apply for permission to own and carry concealed firearms. Assault weapons are not allowed to be purchased now which means no centerfire rifles under a current law which is going to expire in a few months and will most likely not be renewed, as a political guess. There are some already registered assault rifles that could transfer but would have to be kept in the home only, no carrying. They will be hard to find and most likely in .223 caliber.

You can have handguns in any common caliber and 12 ga. Shotguns in semi-auto, pump, double barreled etc. Glocks, CZ, Beretta, Sig Sauer, Walther, Jerico, and Bull are the popular quality handgun brands. Mossberg and Remington are popular shotgun brands. Franchi makes a 14″ pump in 12 ga that is sold as a regular shotgun and can be included on a carry permit, legal and nice for the car. One can get plastic shoulder stocks for some glock pistols and Jerico pistols. The stocks are not a restricted or controlled item. This is called a short barreled rifle in some countries. The most popular handgun calibers are 9mm and .40 but there are a lot of 45acp., .380, and .22 pistols available. Anyone who thinks they cannot defend themselves adequately with a Berretta or Glock handgun and a 12 ga pump shotgun in an urban environment does not know what they are talking about, end of story.

A person is only allowed to purchase 700 rounds of ammunition per month for each gun owned, range ammo excluded. Most manage without shedding any tears. Importing guns is a possibility but they are never going to consider more than two guns being imported. A forty two gun collection is either an arsenal or a store to the customs officials, forget it. Same with your 35,000 rounds of ammo. We have quality shotgun ammo and premium Magtech, handgun ammo in the gun stores. The gun and ammo variety in the USA is not here but we have anything you need for functional self-defense. No handloading. That is considered an ammunition manufacturing facility in most Latin America countries.

One can own an unlimited amount of firearms in their home. Each firearm has a title certificate for it similar to a car title. A person can only have 12 weapons included on their carry license. Rotating guns on the license is possible but a big pain in the neck, ill advised. There are at least 18 gun stores in Guatemala City and the suburbs. There are a lot of guns in Guatemala. We have 100,000 security guards most with a Mossberg 12 ga maverick pistol grip or a .38 caliber revolver. We keep our homes, communities, stores, malls, restaurants safe that way. It does not let the criminals take root.

This paragraph is so extensive because a lot of people are escaping police states and gun ownership is a cherished right and we applaud and support this right. On the other hand no law says you have to own a gun and many people do not own guns. Guatemala is a free country and we do not impose our will on people.

Knives and Edged Weapons Many people carry machetes on their belts, usually in the countryside. Can be startling at first since it looks like a sword. They use them to work on the land. A single edged folding knife with a blade of 3.9″ or less can be carried in a pocket or on the belt in an urban area but is not restricted in the country. There are no size restrictions in the code for non-folding knives. There is a prohibition against automatic knifes, stilettos (not sure of legal definition) and daggers (again not sure of legal definition). If you ask where assisted folders etc stand the answer is we do not know. Could be construed as an automatic or not? Same for flippers. Laws not defined clearly. Generally speaking knives are not considered a prohibited item and enforcement is not tight, but follow the law. This section was included because many of our clients are escaping from oppressive police states and their rights are very important to them and thus to us as well.

Drivers License Of course you can have a driver license as a resident. It is a bit bureaucratic and some red tape. You can drive on your home country license for some time while you adjust into your new home.

Health Care You will find the health care better than North America and Europe. The Doctors almost always have English. The staff is three times nicer than what you’d expect. The hospitals are cleaner and far cheaper. A hospital suite is about $165 a day in an expensive neighborhood. Pharmacies generally do not require a prescription and drug prices are about one third of the USA price.

Pharmacies deliver, many round the clock. Doctors make house calls for $25 to $30. Dentists are about 25% of the USA price and are very good. Veterinarians also make house calls for same price and are excellent. If the pet needs to go into for x-rays etc they transport for you. Without the oppressive prescription laws you can treat a lot of pet infections yourself by just buying the drugs or the pet store will help you out. We have a lot of homeopathy practitioners. There are chiropractors and naturopaths. There are some health food stores and organic food is becoming more and more available. Plastic surgery is popular and affordable. In a word health care way more affordable and better.

Real Estate We live far better than North Americans or Europeans imagine. Most of our single family detached homes are at least 500 sq. meters. A sq. meter is 10.75 sq. feet. Most housing that is top drawer will run $900 to $1100 a sq. meter. In the countryside real estate prices are lower. The more rural the lower it gets. It is common to see homes of 800 to 1000 sq. meters. Hacienda homes will run up to 1800 sq. meters. For a perspective one can get a 3000 sq. foot (not meter) executive townhouse in a gated community with armed guards new for $200,000 with fenced yard, garage etc. Check out a community called Antigua, Guatemala in google. You can get a great townhouse there for $150,000 a beautiful patio home $250,000 to $350,000.

Beaches We have beaches on the Pacific and Caribbean. Simple but acceptable beach homes can be had for $100,000 to $150,000. The Pacific beaches are about ninety minutes from Guatemala City. Beaches are warm and humid.

Weather Guatemala is at about 5000 foot altitude. It is 55 to 75 degrees year round. Homes have no air conditioners or heaters. Think of savings on utility bills. We do use fans, usually ceiling fans. It never snows except on the very top of the volcanoes. Warning: Do not bring ice skates, they will rust.

Schools There are a number of k-12 private schools. They are generally bi-lingual english and Spanish. The schools have campuses with playgrounds etc. They are far nicer than USA schools and the teacher student ratio is much lower. Costs vary from school to school but will be a fraction of USA price.

Domestic Help A live in maid runs $175 a month plus you feed them and supply uniforms. A gardner handyman can run $400 a month if you need one every day. A driver would run $500 a month live in. A nanny for the kids would run about $225 a month live in. Elderly folks can hire two maids and a driver and avoid going to a rest home. There are always two servants on premises and they can go on car trips, to the doctor, shopping, beauty parlor etc. They do not have to clean, cook or drive. Beats the heck out of the alternative.

Food The food is close to organic or free range meat. Prices are a fraction of USA prices and quality is wonderful. Numerous fruits priced so low almost for free. All kinds of vegetables, breads, juices etc. The food is Central American style not Mexican so it is not very spicy. We have restaurants offering anything you could want including: French, Greek, Italian, Steaks, Chops and Ribs, Mexican, Chinese, Japanese. Middle Eastern, German and much more.

Internet We have 1 meg DSL and cable connections available.

Cell Phones We have great cell phones, 3G etc.

How to start Call, email or Skype us. We will create an immigration case file for you. We will have you send us scans of the documents required for review by one of our lawyers. If the documents are not in order we will have you correct them before coming since it is much cheaper and easier this way. Next after the documents are in order you will need to schedule a trip to Guatemala. The hotels will send a shuttle bus to pick you up at the airport. We will have one of our English speaking drivers collect you from the hotel and take you to our executive offices to begin. A bi-lingual associate from the law firm will accompany you to all the needed visits to government offices for fingerprinting, signatures, photos etc. You never go to government offices yourself. We do require a $1000 deposit in order to open a file and begin the work. This fee is 100% applied to the Pensionado fee. It is not an additional fee. This is paid by wire transfer.

1. First you fill out an online order form. Click Here
2. Next you send us scan of passports of all parties applying (husband, wife kids, etc). These are sent in an email as a file attachment to
3. Then we will forward wire instructions to you. We do need to have the $1000 fee paid before we can schedule an appointment. You can pay the remaining fee when here in cash or by wire transfer. You could also elect to pay the whole fee before coming as many immigration clients do for convenience.
4. Then you come to Guatemala.When you come for your appointment you remain here and process for the Pensionado. Figure about three weeks. You will not be busy every day so there will be time for sightseeing. We have beaches, Mayan Ruins, Volcanoes to hike up and there is always Antigua. One could always drive over to a nice white sand beach, all inclusive hotel in El Salvador like the Decameron with a three and a half hour drive time. In about four hours you can be in Mexico where there is a lot of cheap shopping. In any event many of our clients just enjoy a nice rest hanging around the swimming pool at one of our many five star resorts. Warning Our food, beverages and wines are so good here do not even think about dieting.

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January 12

Nowadays, most of the protected video and music downloaded online

Nowadays, most of the protected video and music downloaded online like Windows Media Player iTunes, Rhapsody, Napster, Bearshare , Spiral Frog are all DRM files.
What is DRM? Why do we remove DRM from windows WMV and WMA?
DRM (Digital Rights Management) – The anti consumer copy protection that prevents you from using music or movies in a way that suits you.
For example, if a DRM WMA or DRM WMV you downloaded from WMP(windows media player) that has windows DRM, you can only play it back on a compatible device, so if every piece of music had windows DRM on it you would need to buy the same track on CD to listen in your CD player or car, as an iTunes download to play on your iPod, as a ms store download to play on your Zune etc, but since you paid for it once you shouldnt be forced to pay for it again and again and again, remove windows DRM and you can play it on your phone, iPod, Zune, PSP, CD player, pc, and anything else that you can listen to music on.
How to remove DRM from windows WMV and WMA?
I got a few methods listed below:
1. Burn and rip
Actually, there is a common free method to remove DRM WMV and DRM WMA with 2 steps, Step 1 Burn the DRM WMA to a CD or DRM WMV to a DVD.
Step 2 Rip the DRM WMA and DRM WMV off to your computer, then the DRM should be removed from the WMA and WMV files.
But its not very convenient and may wear out your CR-ROM, and windows media player can only burn and rip the DRM WMA and DRM WMV (or you will need DVD copy and DVD ripper for other formats).
2. Re-record
One of the most common and simple technology is recording the DRM WMA and DRM WMV then use an ordinary converter to convert the recorded and unprotected files. Because this technology is easy to realized and easy to support more DRM formats besides DRM WMA and DRM WMV it is welcomed by most of the DRM converters like the SoundTaxi, NoteBurner , etc.
But there are some disadvantages for those programs.
1. The conversion speed wont get much improvement due to the long recording process.
2.Much audio and video quality could be lost during the recording process.
3. Hook
Hook is another new and more complicated technology which can be used to remove Windows DRM. Comparing with Re-recording software, these sorts of programs have much higher conversion speed, but its hard to make it support some DRM formats with new and lofty encryption techniques.
And as far as I know, Daniusoft was one of its supporters. After giving a test for some free trials I found it is convenient to remove DRM WMV and DRM WMA files with Digital Music Converter, and it also can extract audio from DRM WMV files and supports other unprotected formats conversion like AAC, AC3, WAV, M4A, M4b, MP3, etc.
Here is the free trial download address:

Conversion steps:
1. Add DRM WMV, DRM WMA and other unprotected files.
2. Choose the output format you need.
3. Press the Start button, enter the license.
Ok, Hope you can get some useful resources from this article (How to remove DRM WMV and DRM WMA should not annoy you anymore). If you have any suggestion or want to do some modification please feel free to contact me ().
Remove DRM from your favorite music and videos to release you music life.
Have Fun.
If you know other more efficient methods please feel free to list below.
Look forward to your sharing.

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January 12

There is a lot of confusion out there as to

There is a lot of confusion out there as to what home loan or mortgage modification actually is. I get questions every day about what’s involved, which program is right for me, what’s this Obama program those are usually followed up by should I do it myself or seek professional help (More on that in another article).

Certainly these are confusing times. I speak with many homeowners every day who are wondering what is going on and what to do. The economic downturn we are in has created unparalleled hardship in terms of the homeowner and with the financial sector.

So let’s cut to the chase. The banks DO NOT WANT YOUR HOME. What they do want is a performing loan by performing I mean they want a homeowner that pays their mortgage month in and month out. Banks are not in the real estate business they are in the lending business. If they take back a person’s home then the bank has their money tied up in a home that isn’t earning them any interest or fees.

However, if the homeowner simply cannot make payments then the bank has no choice but to foreclose on the property and take ownership of it to try and recover the principle amount of their loan. These situations are unfortunate and are happening all around us. Enter the loan modification program.
It really doesn’t matter if you’re talking about mortgage modification, home loan modification, President Obama’s Making Home Affordable program or any of the other of the many versions of a loan modification. All these names are referring to same concept that you and your mortgage company have a common interest to keep you in your home.

Again, the mortgage company is in the business of making money off of loans. It’s in their best interest to help keep you in your home. For that reason they are willing to change or modify the terms of the original loan so that the loan is more affordable for the homeowner and they have a higher probability of repaying the loan.

Most homeowners who are experiencing a financial hardship want to stay in their home but are experiencing a decrease in income for one reason or another. The homeowners hardship and the banks desire to have a performing loan makes a loan modification a perfect match. In essence you and the bank are partners working together to get through this tough economic situation with a mutually beneficial outcome.

The process of modifying a loan refers to the negotiation process that takes place between you (i f you choose to do it by yourself or another person or entity that you have selected to negotiate on your behalf) and your mortgage company. At the end of this process your mortgage company will present you with new loan terms that may involved any combination of these: a lower interest rate, extended repayment term, or maybe even forgiveness of a portion of the principle balance owed all of which combine to lower your monthly payment to a more affordable level.

Once your loan is modified you begin making your newly agreed upon monthly payment. Your loan is now current with the mortgage company meaning that any late payments are forgiven, waived, or added back into the principle balance of the loan.

There’s much more here to talk about but I’m out of space. Be sure to check out our website for more details on this subject.

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December 29

The Cayman Islands are a financial hub in the world

The Cayman Islands are a financial hub in the world of banking, as such the islands have become a popular tourist destination because if it s gorgeous beaches and warm tropical climate. Many people from all walks of life and the four corners of the world visit and end up staying because of how much they fall in love with the island life-style. One has to keep in mind the particular immigration requirements becoming gainfully employed in the Cayman Islands.

Banking and tourism offer the most reasonable options for employment on the Cayman Islands. The banking industry in the Cayman Islands is world renown and people from every banking institution in the world are represented there. The tourism industry is equally as well represented by the various resort concerns on the islands. Being that the Cayman Islands are a world-class travel destination, there are often many job chances in the tourism sector.
There are strict employment permits that need to be kept in consideration when thinking about employment opportunities on the Cayman Islands. With exception made to those working on the islands under contract to the government, all expatriates must hold a valid work-permit to work lawfully on the islands. Jobs in the Cayman Islands must first be offered to legal Caymanians, and if a qualified applicant is not found, the employer can then file with the Cayman Islands Government Department of Immigration.

In certain circumstances, a three to six month work permit can be applied for, but the usual work permit is a year long. The process sometimes takes several months, so remember to begin early when you are considering resettlement to the Cayman Islands. Once one has obtained a work permit to work on the Cayman Islands, that work permit is only valid for the job that it was issued for by the Immigration Department. The employer must fill out all of the specific paperwork in order to file for a work permit.

In the case one chooses to change employment while working on the Cayman Islands, the present employer must file a formal letter to the Immigration Department, which releases the employee from the current work permit. Make sure you know for sure that the position you are trying to take is the one that you want. Shifting careers after you have achieved a work permit can be a long process. Unless the prospective employee is highly skilled in the position, or there is little to no interest in the position from local Caymanians, work permits are issued at the discretion of the employer.

Before going to the Cayman Islands, keep in mind that prospective employees cannot live on the islands while an application for a work permit is going through the approval process. If you have a partner and kids, a separate permit may need to be applied for before they can reside with you on the Cayman Islands. Check with the Immigration Department on prerequisites.

Lately a new policy regarding immigration work status has been introduced. Expatriate workers can now remain working on the islands for seven years, and then they will have to renew their work permit. The only exemption for this is if one is in some kind of specialized position, employers can request special consideration into the Immigration Department because of the necessity for these kinds of positions.

One of the more in demand employment opportunities on the Cayman Islands is for that of accountant. Because of the solid banking influence on the islands, accountants trained in insurance and investments are in the highest demand. Registering with a recruitment agency based on the Cayman Islands is highly recommended; they can help one find a position quicker than searching through classifieds. Staff at the varying employment agencies can help to advise prospective employees as to salary requirements, communication with a potential employer and even contact Remax agents to find you a home on the islands. There are many agencies on the islands to select from, so it would be wise to sign up with as many as possible to strengthen your chances of gaining employment.

A major benefit that comes with registering with an employment agency is that they may have an easier time obtaining a short-term work permit, which lasts for six months. This can help a possible employee gain the experience they need on the Cayman Islands and give them a leg up when applying for a full length work permit.

If you are not of the highly specialized type, employment agencies can also help you find the job you want. There are many other types of jobs in demand on the islands. Another good way to search for employment in the Cayman Islands is to search through the Yellow Pages and other local directories. After you find some places you are interested in, you can write them a professional letter with a copy of your cv. Potential employers will be able to review your cv for themselves and determine if you would be a good fit for their establishment, then fill out the proper paperwork to get you gainfully working.
Employment opportunities are abundant in the Cayman Islands, and a little research is all it takes to get you on the right career track in a stunning beach location. Good school, strong infrastructure and

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December 27

Mortgage approvals unexpectedly increased in January as house prices continued

Mortgage approvals unexpectedly increased in January as house prices continued to fall. The Bank of England has released new data showing there were 74,000 mortgage approvals in January, which was up 2,000 from December. That month’s figure of 72,000 was the lowest since current records began in 1999. The surprise pick-up in the forward-looking indicator brings to an end a run of seven months of declines.
Vicky Redwood, economist at Capital Economics, said, January’s household borrowing figures suggest that housing market activity has stabilised, at least temporarily.”
Mortgage lending posted its weakest monthly rise since July 2005, and annually it rose 9.7%, its lowest rise since October 2001. George Burley, economist for Deutsche Bank, said Demand for, and supply of, credit in the UK mortgage market remains very weak and is set to ease further going forward.”
Recently a member of the Bank of England’s Monetary Policy Committee, Kate Barker, warned that a drop in lending might contribute to a downward spiral of house prices, which in turn could become a big short-term threat to the UK economy. The Bank is expected not to announce further interest rate cuts until the middle of the year. They cut borrowing costs earlier this month, but rates may have to come down sooner if the economy deteriorates sharply.
Total mortgage approvals, which include remortgages, were 10% higher in January than the previous month. Although most of the rise is due to increasing remortgage volumes, house purchase volumes also rose slightly in the month despite being on a declining trend throughout the whole of 2007.
Overall the volume of sales has dropped steeply, down by 22% in England and Wales.
The demand for mortgages had dropped under the impact of previous interest rate rises, and lenders have been becoming more fussy about who they lend to because of the recent crisis in the banking industry.
Figures from Nationwide Building Society’s latest house price index showed a 0.5% decrease in house price inflation for February. This took the annual rate down to 2.7%, which is the weakest since November 2005.
This has brought the average UK house price to 179,358. Despite the rate of growth slowing, the average house price remains 4,653 more expensive than this time last year. The general rise in average prices means it will soon be impossible to find anywhere to buy in the lower price bands that were once commonplace. In November 2007, the last month for which numbers are available, there were just 748 sales for properties valued at less than 50,000 in England or Wales.
Gary Styles, strategy, risk and economics director at housing research organisation Hometrack spoke favourably towards the results.
These figures are a welcome change from the recent pattern of declining mortgage volumes in both the remortgage and house purchase market. The combination of lower interest rates and expectations of further easing are providing some support to the market.”
These numbers are still in line with the mortgage forecasts we published at the start of November when we stated that we expect total net lending to fall by around 18% in 2008 to 85bn.”

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December 23

How To Forgo Foreclosure

The subprime mortgage crisis has been on the tip of everyone’s tongue lately, and the housing market has cooled. Rather than being discouraged by this, smart investors realize that this is the time for deals to be had. We’re in a buyer’s market, which is an enormous relief for buyers who have watched the market balloon over the last decade.

But what if you are one of the thousands of people who got caught up in the low-interest madness, thinking you’d be making enough money to cover the difference when your rates reset?

If you are facing difficulties with your loan, remember that the ultimate goal is to maintain your credit rating. You may be able to negotiate with your lender, you may be able to refinance or you may be forced to sell your home now in order to buy one in the future, but the sooner you address the issue the more options you will have.

By getting your finances in order you will be able to get on with your life sooner. Don’t add to your stress by ignoring your fiscal situation; follow these steps to getting back on track:

Know the details – go over all your loan documents so that you are prepared for any upcoming resets or changes. When will your payments increase? By how much? Can you refinance? What kind of penalty would you face, if any? Cut in other areas – can you take a roommate or a second job to help make your payments? You may need to look at significant changes in your spending and lifestyle. Do not make any major purchases at this time, and look at liquidating other assets, such as cars or boats, to help meet your payments.

Contact your lender – You should take the initiative with your lender. Contact them before the problem becomes overwhelming. If you receive calls or letters from your lender respond to them as soon as possible. Do not wait to get too far behind – lenders are less likely to move quickly into foreclosure if you are proactive. You want to speak to the right people – ask for the loss mitigation or collections department. Be honest with them about your situation and don’t make promises you can’t keep.

Beware of foreclosure “rescue” rackets – There are a number of scam artists targeting people in neighborhoods where foreclosure rates have been high. They approach troubled homeowners with promises to help them keep their houses. These “rescues” often come with payments that are out of reach of the average homeowner and result in homeowners being defrauded of their homes, sometimes still owing the original mortgage amount.

Any company that approaches you with such an offer should be checked out through the Better Business Bureau, your state real estate commission and Attorney General. Do not sign anything without reading it all, get all promises in writing and ask your attorney or a financial professional to review any paperwork before you sign it.

Call a nonprofit group offering free housing advice for more information and counseling. They may be able to help you with your options. If you took out a loan between Jan. 1 2005 and July 30, 2007, are current on your loan payments and your mortgage has not yet reset to a higher rate, you may be eligible for a five year rate freeze.

If all else fails, negotiate a short sale – if you have missed more than two payments but your home has not yet gone into foreclosure you may be able to sell it for a price that falls short of what you owe the lender.

If your mortgage holder agrees to accept the price and forgive the rest of your debt, they forgo the pricey foreclosure process and you walk away with minimal damage to your credit score. You can chalk it up to experience, save up a down payment and buy low.

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December 20

The United States has one of the most active mortgage

The United States has one of the most active mortgage markets in the world. Therefore, it is easy to understand why so many different mortgage services are available and provided by a number of entities, ranging from individual companies to large organizational mortgage providers. Property in the US is a fantastic financial investment both for North Americans and people living outside of the country wishing to invest in its property market.
There are many different types of mortgage brokers who work in both individual and as organizational capacities and these brokers can provide you with a lot of advice, expertise and support when buying your US property and selecting the right US mortgage for you. With all the players involved and with intense competition spurring constant innovation, there are numerous types of mortgage products available in the US and these choices just keep on expanding, making property investment more and more attractive and realistic by the day.
There are two basic types of mortgages in the United States: fixed-rate mortgages and variable-rate mortgages.
Fixed-rate mortgages offer an interest rate that stays the same throughout the tenure of the mortgage. Variable-rate mortgages, which are also known as adjustable-rate mortgages or floating-rate mortgages, offer rates that can be changed, adjusted or that fluctuate. Clearly the fixed-rate mortgage offers the buyer less of a risk, but it also does not allow the buyer to take advantages of possible fluctuations in the market. Depending on your ability to deal with risk, you will either be tempted by the variable-rate mortgage or completely scared off by it.
Normally, fixed-rate mortgages have terms of either 15 or 30 years, which is the length of time the mortgage borrower has to pay off the mortgage. In the case of variable-rate mortgages, terms are normally only one year in duration. It is important to note is that interest rates for fixed-rate mortgages with 30-year terms are higher than those with 15-year terms because the money is being borrowed over a longer period of time and therefore the mortgage lender is having to wait longer for their debt to be settled.
In the US, people can get mortgages from government sponsored entities or GSEs, including Fannie Mae, Ginni Mae and Freddie Mac. These organizations operate under federal charter and are overseen by the federal American government.
Well-reputed mortgage companies in the US also include:
* Capital Mac
* Ameriquest Mortgage Company
* Mortgage Secure Massachusetts
* America’s Mortgage Corporation
* MCA Mortgage Division 000
* ABN Amro Mortgage Group Inc
* ValuMortgages
* Americas Money Center
Buying property in the US is not an uncomplicated venture. It takes time to find the desired property, organize the funds, go through with the sale and then deal with all the backlog of paperwork that comes along with it.
However, there is a huge number of highly trained professionals at all levels of the US mortgage process who are there to guide you and help you achieve your goal. There is a way for everyone to buy into property investment in the US without too much difficulty and therefore it is always worth the time and effort to look into the possibility if taking out a mortgage on a US property.

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December 16

Article Title: Why do most people not achieve financial success?

Article Title: Why do most people not achieve financial success?
Shared by: Craig Lock
Category (key words): Money, money management, finance, financial success, financial independence, personal finance, money books, books on money management (enough there now)
Web sites: and www.lulu.com/craiglock
Craig’s blog (with extracts from his various writings: articles, books and new manuscripts) is at and
Other Articles by the submitter are available at:
(Personal growth, self help, writing, internet marketing, spiritual, ‘spiritual writings’ (how ‘airey-fairey’), words of inspiration and money management, how boring now, craig)
Publishing Guidelines:
We hope that the following article (an extract from one of Craig’s early manuscripts, THE MAD MONEY BOOK’ may be informative and helpful to you.
‘We share what we know, so that you and your money may grow.”

Reason One: Lack of knowledge: or more specifically, a lack of desire to gain knowledge. Make the effort to read about financial matters and you will learn. Many people don’t know where to go for unbiased advice so they do nothing.
Reason Two: Failure to set plans. Did you know that only 5 percent of the population sets goals and only 2 percent has any form of written goals? Their actions have a sense of purpose: they are results oriented, they are motivated, they are positive. They are life’s winners. Without a plan, it is easy to drift aimlessly, and live from day to day. If you set goals, you will know what you want to achieve.
Reason Three: Inefficient use of time and poor work habits. Time is like money – you can spend it or invest it in building a better you by self-development. When you waste time, you are wasting yourself. Plan your day – what do you really want to achieve today?
Reason Four: Lack of foresight. Achievers can look beyond the immediate and into the future. Although some may see your visions as dreams, do not forget that you have to have a dream to make a dream come true. Unless you are fortunate enough to be left a legacy, the only money you will ever have working for you is what you save and invest. People with vision can multiply their income by investing in growth investments. Work for your money, then make your money work for you.
Reason Five: The need to conform. Dare to be different! Don’t be afraid to take calculated risks. The people who make big money are the ones who do the opposite of what everyone else does – sell when everyone else buys, and vice versa.
Reason Six: Poor debt management through excessive borrowing. Many people have poor spending habits and having no budget. If you borrow to buy things that lose value, with interest payments you pay much more for the article than it cost initially. (Especially new cars, furniture etc.)
Reason Seven: Lack of desire as a result of a poor attitude about acquiring wealth. A bad attitude has caused more personal problems than anything else. What we expect to happen usually does. Successful people are optimists, while unsuccessful people have a pessimistic attitude . Block out negative thoughts and stereotypes and mix with successful, positive people.
Reason Eight: Inadequate protection against unforeseen events, such as the loss of a home due to natural disaster or the death or disablement of the bread winner. Adequate protection (insurance) against these events is vital to financial success. Not being properly covered has wiped out many potentially financially successful people.
Reason Nine: Lack of discipline. Most people find it difficult to save: it is easier to say yes than no. Those who lack discipline to say “no” will find financial success an impossible achievement. Many people are easily led by advertising and the easy availability of credit.
Reason Ten: Procrastination. Many people put off a savings program until it is too late. Young people have a wonderful opportunity and advantage because they have time on their side.
To conclude…
The reasons people give for not starting a savings program are varied, and many are genuine. People in their 20s are just getting started in life and want to enjoy themselves by spending on cars, stereos etc. People in their 30s have young families and mortgages. People in their 40s say things are tough with kids to put through college and unexpected medical expenses. By the time people reach their 50s, it is too late: there’s no time left to accumulate capital through the magic of compound interest. A convenient time never comes.
So what better time to start on your road to financial success than TODAY?
Craig Lock (“Information and Inspiration Distributer, Incorrigible Encourager and People-builder”)
“Money can’t buy you happiness. But it helps you to be miserable in comfort.”
- Woody Allen
“Together, one mind, one life at a time, let’s see how many people we can impact, encourage, empower, uplift and perhaps even inspire to reach their fullest potentials.”
Craig’s blog (with extracts from his various writings: articles, books and new manuscripts) is at and
“We make a living by what we get…but we make a life by what we give.”
- Norman MacEwan

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December 12

Without any doubt, commercial mortgages in London can rapidly materialize

Without any doubt, commercial mortgages in London can rapidly materialize into great investments. Whether they are taken exclusively for business use or for personal needs, London commercial mortgages are the best way to finance profitable investments, ensuring that the properties’ value will grow along with the market.

London has a very powerful economy and continuously expands with so many new businesses and the development of commercial properties; for these reasons, London offers the perfect climate for investment using commercial mortgages. London commercial mortgages offer many advantages to both borrowers and lenders, ensuring that the relationship of collaboration between parties brings substantial mutual benefits. Once you close a commercial mortgage in London, you are guaranteed to make considerable profits by making the right investments. However, take note that London commercial mortgages are renowned for being difficult to obtain, involving an entire series of requirements that must be fulfilled by the borrowers.

At present, obtaining a commercial mortgage in London can be a very difficult task with the current high property prices, tough conditions imposed by lenders and the demanding process of claiming the commercial property of your choice. Before trying to obtain a commercial mortgage in London, it is very important to arm yourself with good motivation, a lot of patience and to carefully plan your actions in the overwhelming, fast-moving local market.

To substantially increase your chances of getting a convenient commercial mortgage in London, it is advisable to employ the services of an experienced, reputed broker. Without the guidance and support of a reliable London commercial mortgage broker, it can be very difficult, if not impossible to receive the right loan at the right time. Whether you are interested in obtaining London commercial mortgages, commercial finance in London or asset finance in London and regardless of the way you are going to use the loan (property development, business development, personal purposes), you need to find the best broker out there in order to fulfill your objective.

An experienced London commercial mortgage broker can provide you with access to reliable, competitive lenders (due to the high values of London properties, most local commercial mortgage lenders usually ask for a larger deposit or some form of asset to protect against potential shortfalls), can boost your financial credibility and your credit worthiness and will guide your steps starting from completing the commercial mortgage application to finalizing and refining the deal. You will also be provided with valuable help on finding great investment opportunities among the multitude of London commercial properties. Whether you are simply looking for advice on London commercial mortgages, commercial properties in London, or have found a property you would like to purchase, you are guaranteed to find the collaboration with an experienced, dedicated broker very beneficial and convenient.

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December 12

For many small business owners, the thought of delving through

For many small business owners, the thought of delving through the massive amount of paper receipts received is a daunting task. It’s now time to make some sort of sense of the crumbled receipts you’ve stuffed in a file folder throughout the year.

As a business owner, you work hard for your money and want to get the most back on your tax returns as possible. In order to take full advantage of the available tax breaks and get the maximum business deductions, it’s important to have proper documentation of all receipts. In fact, keeping your receipts organized can result in cash back on your taxes and add to the bottom line of your business profits.

It is highly recommended to utilize an accounting management tool such as an electronic storage system to keep track of all business expenses and receipts. These software-based solutions provide business owners the benefit of managing paperwork directly onto a database on your computer. From receipts and expense reports to business documents and business cards, the software allows you to scan your information and organize it into corresponding fields resulting in a detailed spreadsheet separated by specific category.

This type of software allows you to easily scan and identify each item you purchase. Making notes at the time of the purchase helps when tax time comes and you wonder what the item was. You then have access to a detailed report of your spending, based on the categories and labels you entered on the items. You can be sure your business expenses are tracked accurately and assigned the appropriate tax category so you get the maximum tax deductions allowable. This not only helps you get all the deductions you deserve, it also provides copies of all receipts if you need to see them or you are audited by the IRS.

It’s also important to be sure your service provides additional support for your spending records through a special backup process. Check to see if they provide offline storage of your scanned receipts to ensure you always have access to your financial records.

When shopping for an accounting management software program, be sure to check and see if the software program is compatible and exportable into tax preparation programs such as TurboTax or TaxCut. This will save you a tremendous amount of time and effort in preparing your taxes.

By properly managing the clutter from your paper receipts, you’ll not only save valuable time but you’ll also simplify your life and regain some of your hard earned money for your small business.

Copyright (c) 2008 Holly DeVito

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December 12

At best, your mortgage lender can make your home buying

At best, your mortgage lender can make your home buying experience as smooth as silk. A sloppy mortgage lender, on the other hand, can cost you the chance to buy the house of your dreams, or worse, leave you in the lurch without a house to call home. Just imagine the devastation that ensues when a lender fails to close an approved loan within a specified time window, and you lose the house you bid on. Unfortunately, these kinds of mishaps aren’t uncommon. If you thought that the only role for your lender was to hand you a check, there are some things you should know about what a mortgage lender can do for you.

Here’s a quick rundown of mortgage lender roles:

Your lender finds a good interest rate, and once that rate is found, locks it in for you so that you don’t lose it.
You rely on your lender to close the loan in a timely fashion. Once you make a bid on the house, you generally have a window of time in which to finalize your loan and close on the deal. If your lender doesn’t close on your loan within that window, you could lose the house you want to buy.
The lender imposes certain closing fees administrative fees, charges for various services and the like. Because the lender imposes those fees, the lender can also choose to waive some of them and save you a great deal of money on your loan.

Of course, to take advantage of these savings, you need to know your lender, understand the mortgage process and be aware of your rights as a borrower. Here’s what you should know about getting a mortgage and your lender’s role.

Understand the Different Types of Mortgages

Mortgage lenders offer many different kinds of mortgage products fixed rate mortgages, adjustable rate mortgages, jumbo mortgages and balloon mortgages. While the lender knows his products, you can’t make an informed decision without knowing the basic types of mortgages. Do some research so that you’ll have some idea what kind of mortgage will suit you best, and then seek out lenders that offer those types of mortgages.

Keep Track of Prevailing Interest Rates in Your Area

There are lots of ways to keep an eye on the prevailing interest rates the newspaper, online banking sites, even mortgage quote sites that allow you to compare interest rates from many different lenders.

Get to Know the Different Types of Lenders

Not all lenders are created equal but that doesn’t mean that one is inherently better than another. Mortgage brokers shop around and find you the best loans for your needs, but they may have their own interests in mind if, for example, a particular lender offers incentives for loans. Banks and credit unions can offer many services alongside the loan or aside from the loan. In some cases, taking out a mortgage through a bank with which you have an existing relationship may give you some advantages that you wouldn’t have with a household finance lender.

Understand the Typical Closing Costs and Fees for Loans

Interest rates are only one point of comparison when you’re shopping for a mortgage. Other fees include points, administrative fees, copying fees, fees for appraisals and more. Ask prospective lenders to detail typical costs, including charge per point, and which administrative fees you can expect to pay. Often, lenders are willing to waive some of those fees to attract your business.

How to Find a Lender for Your Mortgage

It used to be a given that most people would find their mortgage lender through a personal referral from a friend or business acquaintance. The internet has changed that in many ways, but there are still a lot of home buyers who prefer a personal recommendation. Other places to find reputable lenders include:

Agent referrals are one of the most common ways that buyers find lenders. If you haven’t gotten a pre-approval before seeing a real estate agent, you can expect the agent to recommend that you get one. The agent will often have a list of lenders with whom he or she has worked in the past.
Online quote sites often allow you to submit a loan quote request to multiple lenders in your area at once.
Your bank or credit union is an obvious place to check for a good mortgage deal. After all, you trust them enough to keep your money there.

A mortgage lender can make your home buying experience seamless and easy, or rugged and tedious. That’s why it’s so important to understand their roles and responsibilities. The time it takes to find a reputable and experienced mortgage lender is well worth your effort.

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December 12

A reverse mortgage is a loan that converts a portion

A reverse mortgage is a loan that converts a portion of the equity in one’s home into cash. To qualify for a reverse mortgage, borrowers must be at least 62 years of age, own an approved property, and have little to no remaining mortgage balance. Borrowers who fit this profile might be able to use some of their equity to pay off their existing mortgage loan, cover unexpected expenses, or simply increase their quality of life.
Getting a reverse mortgage is a huge decision. Before taking action, borrowers should take the time to understand exactly how a reverse mortgage works. Consumers who know how the loan process works will be more equipped to make an informed decision.
How a Reverse Mortgage Works: Understanding the Loan Process
To understand how a reverse mortgage works, consumers must understand the loan process. Taking a reverse mortgage is not as simple as filling out an application. While this is part of the process, there is more to it than just that.
The first step in taking a reverse mortgage is contacting a lender. A loan officer will provide the consumer with information and help determine whether a loan might be beneficial. After speaking with a loan officer, borrowers who are interested in beginning the loan process will need to meet with a counselor approved by the U.S. Department of Housing and Urban Development (HUD). This meeting can be done either over the phone or in person and typically lasts around one hour. The purpose of counseling is to ensure that borrowers understand exactly how a reverse mortgage works, the costs associated with a loan, and the long-term implications.
After counseling, borrowers will fill out an application with their lender. Borrowers will also select their preferred payment method and provide their lender with the documentation needed to proceed. The lender will outline the costs of the loan and provide borrowers with the necessary disclosures.
The next step is to order a home appraisal. This will help borrowers determine the value of their home and ensure that the property meets the guidelines set by the Federal Housing Administration (FHA). Once borrowers know what their home is worth, their loan officer will be able to tell them how much they are eligible to receive through a reverse mortgage. The loan officer will also discuss the specific terms of the loan and submit the loan for underwriting. After the loan has been approved, closing can be scheduled. To close the loan, the borrower will meet with their lender or title company and sign the final documents.
How a Reverse Mortgage Works After Closing
Once the loan has closed, borrowers have three business days to cancel their loan. After the three-day period, the borrower’s payment will be sent. Payment will be received according to the option the borrower has selected. Borrowers may choose to receive their funds as a line of credit, lump sum, or monthly payments. If a borrower owes money on an existing mortgage loan, the balance will be repaid at this time.
The last step in understanding how a reverse mortgage works is understanding when the loan must be repaid. A reverse mortgage must be repaid once a borrower dies, sells the home, or has not been living in the home for one year. Regardless of how long it takes to repay the loan, the amount owed can typically not exceed the value of the home. The exception to this would be if a borrower’s heirs decide to repay the loan and keep the home. In this case, the total balance must usually be paid. Once the lender is repaid, the loan will be fulfilled and any remaining equity will be the property of the borrower or borrower’s heirs.

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December 5

If you genuinely owe money to a company and you

If you genuinely owe money to a company and you do not pay it back in accordance with the terms you agreed, then the hard fact is that lender is perfectly entitled to sue you in order to get their money back. In borrowing the money, or buying things on credit, you will have signed an agreement that legally binds you to paying the money back under strict terms. If you break this contract they may choose to sue you.
Finding yourself in the increasingly common situation of not being able to keep up with the repayments on a loan or credit card will almost certainly result in the lender taking some sort of action to get their money back, but this does not necessarily mean they will take legal action. What they want is to get their money back, or as much of it as they think possible. They will only decide to sue you if they believe that taking such action is the route most likely to result in them getting the most money back from you.
They will rarely proceed quickly to suing you, the typical system being to hand the debt over to either their internal debt collection people to chase you, or else an external debt collection agency. It is usually only if this fails that legal action will be considered. Even then, a lender will consider various factors when considering whether to sue you or not.
If they think that it will cost them more in legal fees than is worthwhile, or they believe that you really do not have the money to pay them anyway, they may opt to try to negotiate an agreement with you instead. Taking court action will involve legal advice, which carries a cost, so you are less likely to be sued for a fairly small debt.
It is important to understand the type of debt you have if you are in danger of being sued. If you have defaulted on payments for a mortgage or secured loan, you could very easily lose your house. Any form of secondary or unsecured debt, however, can not result in the loss of your home through the initial court action. Neither can you expect to have bailiffs coming to take your possessions away (UK only). The initial result of court action (assuming you do owe money and you admit this) will be that the court makes a judgement against you and sets out a schedule for paying back what you owe.
The legal details involved in being sued for debt will vary depending what country or state you live in, but the overall processes are very similar whether you are in the US or the UK. In the UK, the claim will be dealt with through the County Court system, and in the US through the small claims court or higher court. Wherever you live, your first move if you are being sued for debt should be to seek proper legal advice.
If someone decides to sue you, they must first make a claim through the court. You will then receive paperwork informing you about the details of the claim. You must always respond to such claims within the timeframe given and attend court at the specified time in order to answer the claim. If you do not respond or do not attend court, the claim will automatically be awarded against you. In the UK you need to complete and return a form giving your own details and view of the claim.
You may wish to consider contacting the company you owe money to in order to see whether you can come to an arrangement to pay back what you owe, or as much of it as you can afford. You could also consider whether you wish to make a counter claim against the lender, if you think there is a legitimate reason for off-setting some or all of the money you owe. Reasons for a counter-claim could be because the lender has behaved unfairly towards you or not followed consumer protection laws. Making counter-claims can make it more likely that the lender will drop the case or choose to settle out of court, if they think it could be a long and costly legal process.
If a judgement is made against you in the UK this is known as a County Court Judgement. This will involve the judge looking at your financial situation and setting out a repayment schedule for you to pay back what you owe at a rate you can afford. A County Court Judgement will show up on your credit file, and therefore have an impact on any future applications for credit.
If you do get sued and a judgement is made against you, it is very important to stick to the terms of the judgement. If you do not, then the way is open for far more serious legal consequences, which could include the loss of your home and even imprisonment.
Being sued for debt can be a stressful experience, but if you understand the nature and limitations of the immediate court judgement this can help to make the process slightly less daunting. The main thing to remember if you are being sued for debt, is that if a judgement is made against you, it is extremely important to do everything you need to in order to stick to the terms of the judgement.
Remember that no debt crisis is insurmountable, and with the right advice you can take action to deal with your own debts without borrowing or spending more money. This should be the first course of action, to hopefully prevent things ever getting as far as court action.

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December 3

The Canada Revenue Agency is extremely resourceful when it comes

The Canada Revenue Agency is extremely resourceful when it comes to finding out about undeclared income. The age of technology has made it very easy for them to find out information and when they do they will come after the taxes that they believe that you owe. So how does the Canada Revenue Agency find out about undeclared income?

Here are some of the common ways that the Canada Revenue Agency can find out that you have earned income that you haven’t declared:

Audits. When one company is audited it often triggers a chain reaction. If you are self-employed and have performed services or worked for a company who is audited, the Canada Revenue Agency will often look at invoices and cheques that have been paid to other companies and then check to see if the other company is up to date in their tax filings or if the amounts of the invoices exceed the companies declared income.

Tax Slips. Many contractors assume that because they are paid by cheque that the CRA won’t know about their income until they file a tax return. Companies must file a T4A for each contractor who they paid during a given tax year that includes the amount of income paid to the contractor for that tax year.

CRA Snitch Line. The CRA has an anonymous phone number where people can report friends, family members, colleagues, suppliers etc who have undeclared income. Commonly ex-spouses and business partners will exploit these services to wreak havoc on another which they once had a relationship with and now hold ill will towards them.

Once the CRA thinks that you may have undeclared income the real trouble can start. If you are up to date in your tax filings they can audit or re-assess your tax returns. If you have not filed a tax return they can file a notional assessment which is filing your return on your behalf and then assessing income and taxes that you will owe. They will add penalties to any tax that you owe in association to undeclared income and charge interest on the tax debt and penalties retroactively. This can double and even triple the size of a tax debt.

So what can you do if you have undeclared income? First, don’t wait until the CRA catches up to you. If you know you have undeclared income, if you come forward and declare it under the voluntary disclosure program before they contact you about the undeclared income; you can avoid interest and penalties altogether. Organizations that specialize in helping people with tax problems can make an application from you under the voluntary disclosure program on your behalf.

If the CRA is already pursuing you about undeclared income, hire representation immediately. A representative who is skilled at working with taxpayers who have tax problems can act on your behalf to help you become tax compliant.

The worst thing you can do is ignore the problem because it won’t go away by itself. Failing to declare income is tax evasion under the income tax act and the CRA has many tools at their disposal to come after you including criminal prosecution. Time is your enemy and the faster you deal with your undeclared income the better!

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November 13

Who does not want to have a financially stable life?

Who does not want to have a financially stable life? Surely, no one. But still some people have to deal with inconvenience in monetary terms, because of low or no income. Besides this group, you will come across a third group of people, who have spent all their life working hard to meet the needs of their family, but when they are released from their work, the only source of income for them is their regular pension. But how sufficient their pensions, actually, are in serving their essential needs? The equity release providers have come with several solutions, which can help individuals manage their financial deficiencies. The insufficiency of the trivial pension amount compel the senior citizens to look for some other modes of income. This is where equity release UK schemes comes into their focus.

The equity release providers act as the most efficient sources to help the old aged individuals earn a handsome income during their retirement after enrolling for the equity release schemes. This earning is free of all kind of taxes, which they receive in addition to the trifling pension. Very few people, earlier, were aware about these plans, but gradually, the popularity of these plans has increased a lot as they offer an opportunity to the pensioners to lead an independent and financially secure life even after retirement. With these schemes, grabbing so much attention, the equity release providers have introduced several other plans that could fit in the needs and requirements of the old aged individuals.

The major criteria that are required to be fulfilled by the retirees before they register for equity release UK schemes include possession of a property and a minimum eligible age, which in case of UK providers is usually 55 years and above. If you fulfill these two requirements, you are eligible to apply for these financial solutions. Having a possession is, undoubtedly, important in this case as the amount that you will be receiving after the approval of your application will be in lieu of that property. The companies offering equity release UK schemes have been found to be separate for both lifetime mortgages and home reversion plans. However, there are some that offer both these types of schemes for the old aged individuals.

As soon as you apply for equity release UK schemes, the lenders visit your property. This is, basically, done to examine the accurate condition of your house. This, in turn, acts as the major factor which enable the lenders decide over the amount that you are entitled to receive. If your asset is well-maintained, your application will be approved, otherwise it may also be rejected. If your property is in a dilapidated condition, even if the equity release providersapprove your loan application, the money that you will receive at the end will be trivial enough to serve your needs. Thus, if you desire to enjoy a handsome income after retirement, try to keep your asset maintained well.

Evaluating your property and checking its maintenance level assures the equity release providers whether your property can repay the amount borrowed by you if you die without paying it back. Once they get this guarantee, it won’t even take a second for them to give their consent to your equity release UKapplication.

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November 13

I know what you are thinking. You’ve lost

I know what you are thinking. You’ve lost so much in the stock market. If you’d only taken that money and paid off your mortgage! Is it too late? Should you bite the bullet? Sell off what you have left in your mutual funds and pay off the home loan?
Of course the answer is very simple. It depends.
From an emotional stand point, it might feel very good to pay off that mortgage. And while I think that the emotional component is very important, it certainly should not be the only consideration.
Generally speaking, the best way to make this decision is to look at the rate you currently pay on your mortgage (or the rate you could refinance at), how long you’ll keep the home, and the OBJECTIVELY DETERMINED expected rate of return of the alternative investment – in this case, the stock market.
For example. Lets say you have a 6% home loan. You can refinance at 5%, you plan to stay in the home for another 10 years and you expect the stock market to drop faster than a meteor. In this case, the first thing you do is STOP.
Sorry. It doesn’t matter what YOU expect the stock market to do. It matters what the OBJECTIVELY DETERMINED rate is over the next 10 years. I understand that this is impossible to know. But as painful as the market has been lately (and that’s an understatement) its still reasonable to expect that the market will return 8% – on average – over the next 10 years. Of course the past is no guarantee of the future. But this is a very reasonable expectation. I know you feel like the market will never make a positive return for the rest of your natural life but this is just the inverse of how many people felt in the late 1990′s. They thought the market could never go down and they were wrong. Anyone who expects the market not to recover has no evidence to support that claim. Its just a feeling.
Back to our example.
Let’s not consider tax consequences for this illustration as it could get very sticky. (Obviously you should consult your tax adviser before making any decision such as this). In this case, the smart financial move is to keep your investments in tact- keep the mortgage and the mutual funds. By doing this you have the added benefit of keeping your assets diversified. And by the way, lets face it, real estate hasn’t been such a great place to have money lately either. Paying off the mortgage could be a disaster if real estate continues to wither.
OK. Simple decision.right? Wrong. It doesn’t end there.
Lets say you can’t sleep at night because you are so petrified about the market. In that case, there is a stronger case for paying off the mortgage. But this situation worries me. If you blindly give in to your fear today, what’s going to happen tomorrow? When the market takes off like a rocket (and it will at some point) are you going to refi, pull equity out out of your home and put it back into the market? My experience is that once you open the door to allowing your emotions to take over, its hard to put the intellect back in the driver’s seat.
Again, I do not believe the financial questions can be made without considering the emotions but I think we have to be careful and tread lightly.
Fear is something many of us are powerless over. The sooner we accept that, the better. It is a driving force in many parts of our lives. Fear can be a very good thing. It can keep us alive. But it can also kill off the most “alive” aspects of who we really are and it can muffle the only thing that sets us apart from the ants – our intellect.

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November 11


I have a foreclosure soon to take place on my first mortgage. What happens to the second mortgage if it is paid up to date? I was so stupid that paid a company XYZ $1000 to negotiate a plan for paying the first loan. they promised me that the first mortgage lender would surely accept their plan. But they dropped the ball and the first lender won`t take anything. Now, it`s just 10 days left for the foreclosure sale. The lender is simply trying to blame it on me. Is there anyway I can get back the $1000? What`s going to happen when they sell off the home? Will the sheriff come and keep all my possessions if I`m still there in the property? I`m so upset, I could have used the $1000 towards the first mortgage instead of paying XYZ. What do you suggest now?
Once the first mortgage lender forecloses your property, he will sell it to the highest bidder in the foreclosure auction sale. The sale proceeds will be used to pay down your first loan and then the second. If there is a shortage, and the first lender fails to retrieve the entire first loan balance, he may give you a time period as per the state or bank laws after which you`ll have to vacate the property. There`ll be a date set by the Sheriff on which he`ll come and evict you if at all you don`t move out.
Now, when the first lender carries out a foreclosure sale, the second mortgage lender can take the following steps:

* File a deficiency judgment against you if the foreclosure sale doesn`t cover the entire second mortgage loan balance.
* File a civil judgment against you in court or garnish your income.
* Bid for the property at the time of foreclosure sale in order to recover the money the second lender has invested.
* Even after the first lender sells off property, the second lender can pay off the required amount of money to the first and get back property at the end of the redemption period.Apart from the steps above, the second lender can also charge-off any unpaid debt after getting a part of the sale proceeds when the first loan is paid off. This means that the second lender considers the debt as uncollectible. But you still don’t lose your obligation to pay off second mortgage after foreclosure.
A 2nd mortgage charge-off will have a negative impact on your credit score. So, try to repay the charged-off debt and request the second lender so that he reports to the bureaus who can then update the status on your credit report as “Paid Charge-off” or “Settled Charge-off”.
In case you don`t pay off the charged-off debt, it may be considered as income and depending upon the state laws, you may have to pay tax on the unpaid debt. However, if your lender forgives the unpaid debt, you may not have to pay tax provided you qualify for tax relief on mortgage debt forgiveness.
What I suggest is, save up your money for rent because foreclosure is inevitable as it`s only 10 days left for the sale. Also, try to negotiate with the second lender so that he accepts the amount that you can pay off in easy installments. This will help you avoid a charge-off being reflected on your credit report.

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November 9

You need mortgage marketing ideas to assist you into the

You need mortgage marketing ideas to assist you into the field and meet real estate agents, but you do not want to cold call. It does not need to be as difficult as some loan officers make it. Each time you leave your office and spend the day in the field, there is a multitude of chances waiting to be possessed. Everytime you talk with real estate agents there’s something to gain.

And what is involved is to know where to look and the questions you should ask.

For example, in your next meeting with a real estate agent, tell them you are looking to partner with one or 2 new real estate agents and you’d like to locate other real estate agents just like them.

Describe some traits, and then ask who they know that meets it. After they’ve shared a agent or two, ask them if they would not mind getting authorization from the real estate agent for you to call her or him or schedule a luncheon meeting. This simple mortgage marketing idea saves you tons of energy because the real estate agent is doing the hard part.

More Mortgage Marketing Ideas
Promoting your services to the seller’s real estate agent is another. If you have not done it before, it’s stunningly simple. Just call them and introduce yourself as the loan originator handling the buyer’s mortgage loan.

There is no need to tell them of your services, just involve them each step of the way in the mortgage loan process like you do with the buyer’s real estate agent. Instead of telling the seller’s real estate agent about your service, they get to see it firsthand. The fact alone that you called and introduced yourself makes an unforgettable first impression most seller agents find unbelievable.

Another mortgage marketing idea is to speak at sales meetings to real estate agents. Whenever you can get a presentation in front of real estate agents, it is the best use of your energy. You share the same amount of information to a group as you would to an individual, yet your chances of a real estate agent finding you so they can refer leads is increased. Don’t bring food; let them feed their stomach while you feed their minds. It’s a fair trade and if you can not do it onsite, do it offsite.

Several of my clients educate and their work always proves successful. Groups grow larger each time they teach a class. You promote yourself as an expert and real estate agents always want more information which helps you build a relationship. Whenever they have a prospect you get the referral.

It applies to mortgage marketing flyers too. The bright thing to do is to use the advertising space to promote your expertise, not a solicitation. And tell it from your client’s viewpoint. It’s better that another person brags about you, then you doing it yourself. Essentially, make your mortgage flyers a sequence of success stories and real estate agents will look forward to receiving them if you employ consistency.

Marketing to Realtors isn’t mind boggling when you’re motivated with mortgage marketing ideas that make your job simpler. What’s critical is you’re making progress and being active. Nobody ever got real estate agents to refer leads to them being invisible.

Just tackle one mortgage marketing idea to begin. Use it, try it different ways until you have success and then tackle the next one. Before you know it, you have multiple mortgage marketing ideas working for you and your pipeline is improving giving you the lifestyle you desire.

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November 8

We all know about the deadly grip of selling slumps:

We all know about the deadly grip of selling slumps: you have a series of bad days and missed sa1es; you aren’t coming close to your potential; and you can’t stop worrying about it. In this issue of Sa1esWise we are going to explore the slump cycle and what you can do to interrupt it.
What is a slump?
A slump is any decrease in performance over time. It may start innocently, when you lose a couple of sa1es. Somebody makes a comment that “you might be in a slump” and you start believing it. You botch a sale again, and you decide you are in an official slump. You get angry and depressed and your slump gets worse. You begin to worry about money (ouch!), start to lose faith in yourself, and firmly believe that this period will last a long time.
What contributes to a slump?
There can be many reasons why you’re in a slump. Some are within your control; some are not. If, for example, you don’t know enough about your product, or your presentation skills are poor, fess up and catch up. As my father always said, “It is easier to see a fly on someone else than to see an elephant on yourself.”
Here are some common causes of sa1es slumps. If you recognize an elephant on yourself, admit it. Then, you’ll know what to do.

* You talk too much and are a crummy listener
* You need to upgrade your product/industry/business knowledge
* Your presentation skills are mediocre
* You have fallen behind in prospecting/networking/business-building activities
* You haven’t found your niche market
* You aren’t preparing enough before each call
* You concentrate on your products, not the needs of the customer
* Your time management and organization skills need a tune-up Sometimes the cause can be found in your company’s culture, and you may need to approach your manager for help:

* Your company doesn’t encourage open communication about difficulties
* You have too many administrative responsibilities
* Your territory is not clearly defined
* Coaching or other management support is not offered to help you out of your slumpWhen you’re in the middle of hell, keep going. (It’s no place to stop!)
A number of strategies can help minimize the downward spiral of a slump. Hopefully at least one of the following ideas will appeal to you, since just doing one thing differently can interrupt the slump cycle.
Ask for help.
When you’re in a slump, you’re often too negative or too worried to see a way out. Find ways to feel more connected to others and to gain a more positive perspective. Talk to your manager, find a coach, join a networking group and ask for referrals, or ask your clients to help you understand trends in their markets.
Show up.
Woody Allen once suggested that 90% of success comes from just showing up. One of the surest ways out of a slump is to work your way through it. Come to work on time, don’t go home early, and don’t make excuses for not attending networking events.
Show up and serve.
Approach your clients with the intent of helping them, not just selling to them. You may find that the best help you can give is to recommend a competitor’s product, or to suggest that a client deal with a problem internally. Or maybe what you have to offer is what your customer needs. Whatever the case, you have helped your clients. They will be grateful and they will trust your integrity.
What if a slump is the perfect place to be, for now?
A slump gives you time to regroup, think, plan, meet new people, improve your skills and strategies, and learn from it (because it won’t be the last time you hit a slump). Don’t beat yourself up because you didn’t reach a goal or close a sale. It is enough to keep learning.
Take action.
Do something or start somewhere. Whatever path you choose, you need to act to correct the direction of a slump.
Change your routine.
Sometimes a slump starts because you’re bored, and you may not realize it. Your routine may be too predictable. Mix it up! This year I took a course in improvisation and loved it. I also changed my workday. Now I often work from 6:30 – 8:00 a.m., go to the gym until 10, and only make appointments for after 10. Often just a change in routine will wake you up and give you a new perspective.
Stop trying so hard when you are with customers.
Trying too hard kills your ability to authentically connect with others. Be more curious about your customer’s business, relax, and try softer, not harder.
Control your expenses.
Be realistic about what your income is. Too many people keep spending during a slump as a way to make themselves feel better. Review all your expenditures, separating them into “needs” (mortgage and groceries) and “wants” (bigger TV, latest cell phone). And that review includes your $3.50-a -hit coffee habit.
Don’t compare yourself with other sa1espeople.
You are on your own path. Always remember that.

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November 8

Payday loans Australia are advanced against the paycheck of the

Payday loans Australia are advanced against the paycheck of the next month, but the amount that is available depends on the amount the loan seekers earn in a month. The salaried women and men of Australia are seriously interested in finance of this category. Generally, they do not earn enough. This is to meant that their income of the month is not enough for them to move to the next payday comfortably. It is a hard reality that they face acute crisis in some months when they are to spend more and they are to spend for the purposes that they have not included in the budget in the beginning of the month. However small the paycheck may be, it helps them indeed, because they can secure payday loans Australia with the strength of it.
Payday loans Australia are not linked with collateral. It is not necessary for the finance seekers to put up valuable property to get treated as a guarantee so that their loan application can be approved by the lenders. The loan seekers are also not asked to fax their personal information in details and that too in bulk of papers, because faxing is not required for this kind of loans program. There is no hindrace for the bad credit holders if they want to submit loan application for the cash schemes like this. The finance providers offering payday loans Australia are least interested in creditworthiness of the loan seekers.
Terms and condition for payday loans Australia are favorable for the borrowers for more reasons. The salaried people apply for this sort of short finance when they look for the cash as fastest possible time. The finance agencies in Australia try their best to fulfill this expection of the loan seekers. They prefer that loan application is submitted online which is known for time-saving character. The lenders send the payable amount to the bank account of the applicants either on the same day or within the next banking day.
This is why the applicants must be in possession of a valid and verifiable bank account with credit deposits feature. The Australian citizens, who are already adult as per Australian legal sysytem, are eligible for payday loans Australia, but they must be employed and their monthly income must not be less than $1,000.
A sum within $100 to $1,500 is offered towards payday loans Australia. Interest for finance of this kind is charged at comparatively high rates. The borrowers must take care in paying back the outstanding within the stipulated period, unless which they will have to make additional payment towards penalties. They are given 14 to 30 days as tenure for repayment.

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November 6

What is a Reverse Mortgage?

First, what a reverse mortgage is NOT:

* It is not a decision to be taken lightly
* It is not available to homeowners under the age of 62
* It is not free money
* It is not a cure-all
* A reverse mortgage is not “a way for the bank to get your house”
* It is not based on income or credit levels
* It is not a traditional home equity loan What a reverse mortgage is: a good tool for financial planning and flexibility. There are only a very few requirements for eligibility:

Must be at least 62 or older

Own a home (primary residence)

Have equity in the home

Never have defaulted on government debt

What are the Benefits of a reverse mortgage loan ?

* keep ownership of the property
* never have another mortgage payment
* income is tax free (proceeds/funds you receive are tax free)
* select how you want to receive your income (monthly, lump sum, both)
* you can sell home at any time
* you can leave home for heirs
* you are not at risk for foreclosures ( you have to pay for maintenance, taxes, and home insurance as this could lead to a technical foreclosure) In addition, the home itself must be of a type that qualifies for the reverse mortgage program. The vast majority of single family homes qualify, as do most condominiums, townhomes, 2-4 unit owner-occupied dwellings and manufactured homes. Your income and credit levels, however, do NOT matter.

To go through the process of getting a reverse mortgage you will need to speak with a reverse mortgage originator or provider. This person will guide you through the preliminary steps, including counseling, home appraisals, inspections, and choice of loan specifics. It is very important to feel comfortable with your lender. Feel free to speak with as many people as you need in order to gain information and feel comfortable.

Once you receive the money, there are virtually no restrictions on the way in which it can be used.


* Repay existing debt, including the existing mortgage You Can:

* Make Home Improvements
* Finance Regular Living Expenses
* Ease Healthcare Costs
* Take a Trip to Somewhere You’ve Always Wanted to Go
* Give Gifts to Your Family and Friends It almost seems too good to be true. There are, however, as with everything these days, costs involved. There is an origination fee, closing costs, a servicing fee, mortgage insurance, and interest. These costs come from the proceeds of the loan. You pay very little directly out of your pocket.

You should also know that you cannot lose your home at any time during the life of the loan for failure to make payments. THERE ARE NO PAYMENTS TO MAKE. The loan does not come due until you permanently leave the home or the last borrower dies. The home must be kept up to reasonable standards, it must be insured, and the property taxes must be paid.

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November 3

Lenders who offer loans to people with bad credit are

Lenders who offer loans to people with bad credit are known as sub prime Lenders. Offering a loan to a sub prime borrower involves high risk, as the chances of default of the loan repayment are more. Sub prime lenders charge higher interest rates on their loans and can be recognized by this easily, as they do not advertise themselves much as sub prime lenders. Therefore to compensate for the high risk involved, Sub prime lenders charge interest rates that are higher when compared with conventional lenders.

Depending on the purpose of loans offered, there are many types of sub prime lenders such as sub prime mortgage lenders, sub prime auto lenders, sub prime credit cards lenders and sub prime personal loan lenders.

You can get personal loans from sub prime personal loan lenders if you have a damaged credit and in dire need of funds. Interest rates with Sub prime personal loans are high because of higher risk involved when offering loans to people with bad credit. Sub prime personal loans are a common form of home loans that are designed to help people with credit problems for buying a home. Most lenders offer sub prime personal loans. However, you have to be careful, when choosing a lender, as scam lenders are plenty in the lending market. Apart from the higher interest rates, watch out for certain other fees also. Your credit history will be thoroughly examined before considering for offering you a higher-rate lending. Sometimes the standards are relaxed when it comes to bad marks on your record and credit scores. People having a credit score of less than 620 apply mostly for sub prime personal loans. If your credit score is more than 620, you are likely to be eligible for loan with prime rates. People with dues on bills, bankruptcy or going for foreclosure are offered with plus prime rates.

You can find a local lender for getting a sub prime personal loan, who is specialized in personal loans. Some banks may not be offering sub prime personal loans, but they can refer to some individuals or affiliates or a finance company who offer such loans. Also ensure that the chosen company is insured with federal agencies. You can obtain references from family sources or friends about good lending finance companies. You can also get customer reviews about various lenders from online sources. Finally, make sure that your payments are manageable for avoiding debt compounding, before you sign any financial agreement. Some lenders may require your real estate or house for security purpose. The loan amount will be based on the available equity in your home. This is like making a second or even third mortgage. Such sub prime personal loans are offered typically at interest rates ranging from 7% to 19% while writing. If you still have no house or any other form of security, there are sub prime personal loans available at much higher interest rates, typically say about 30%! And also the upfront fees will be higher.

Try to avoid sub prime personal loans if possible as they are more expensive for servicing and moreover you can get into trouble with such loans. Use it only as a last resort for credit source and try to qualify yourself for prime financing in spite of your bad credit history.

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October 29

At one point or another, most people are in the

At one point or another, most people are in the position of deciding whether they should buy or rent a home. There are advantages and disadvantages to both, some of which are detailed below.

Advantages of Buying

One of the main benefits of owning your home is just that; that you own it and it belongs to you. You have 100% choice in any changes you wish to make, whether that be decorating the home, adding an extension or how you would like the garden. As well as this being advantageous while living there, it also gives you the opportunity to make alterations that add value. In fact, you control everything as there is no landlord who has to have their say and who you have to run things past. You can also live there for as long as you like; there is no chance of a landlord wanting to sell and you having to move out.

Owning a home is also an investment. You can sell the house at a later date for a profit, increasing the chances of you being able to upgrade. Although most people require a mortgage to own a home, once this is paid off you will no longer have to pay for it. This isn’t the case with renting, as the rent is ongoing.

Disadvantages of Buying

The first disadvantage is an obvious one; it costs more. Generally the monthly outgoings will be more for a mortgage than rent (although you may eventually pay if off). There is also the deposit for the mortgage. Although renting also requires a deposit, it is usually only one or two month’s rent, while a deposit for buying a home will be several thousands. A mortgage is a long-term financial commitment, and you may lose your home if you are unable to pay it.

There are also many other costs associated with buying property. There will be extra taxes (depending on which country you live in) and conveyancing solicitors and surveyors to pay for.

As already mentioned, the main benefit of buying is the investment aspect. But, if you don’t even pay the mortgage off this benefit will be redundant.

Advantages of Renting

In some ways there is more freedom with renting. If you like you can easily move at short notice. You don’t have to go through the process and stress of having to sell your home and find another. Selling a home is a long process while moving out of a rented property is not. This is particularly beneficial if you move fairly regularly. Having to relocate for work, for example, is not such as big problem.

There is less stress associated with renting. If something is broken then the landlord has to pay for it. For example, if the boiler needs replacing and you own your home, it can cost you a lot. If you are renting, it is the landlord’s problem. Bills, including council tax, are sometimes included in rent.

Disadvantages of Renting

When renting, you are giving someone else your money. Rather than paying off a mortgage to eventually own your home, you are giving it to someone else. Rent is never ending, so if you rent for life you will be paying every month for the rest of your life. You will not ever make any profit out of renting.

Andrew Marshall (c)

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October 29

If you are seriously considering the purchase of land in

If you are seriously considering the purchase of land in Antigua, welcome to the club! It has no name yet but you can be sure it’s a club that desires the laidback atmosphere of island life surrounded by endless vistas of sun, sand and sea and hobnobbing with friendly people. Well, always friendly, almost-naked people on the beaches and the Carnival!

Do Step into Paradise

For non-citizens of Antigua, the purchase of land in Antigua is one of the easiest and wisest moves you can take in diversifying your investment portfolio, capturing the magic of holidays and becoming part of island life. There are steps to take into paradise, expectedly.

Do secure an Alien Landholding License, which costs 5 percent of the total value of the land considered under purchase. Since each license is specific to the property, be sure that the contract is ironclad. You don’t want to be evicted even before the ink has dried, right?

Do peruse and understand the fine print of the contract. You will be setting yourself up for investment heartbreak if you don’t. Besides, this is standard procedure in any real estate transaction so it’s just common sense, too. Or better yet, do the next step.

Do hire a local lawyer and/or a property management services company to handle the documents and details of the transaction. You don’t want to deal with the bureaucracy when you can be on your holiday! Besides, it will take a load off your shoulders although you do have to take off a load off your pockets in the process. But, hey, it’s worth it!

Do inspect the property being considered for purchase. You don’t want to end up with a shack teetering on the edge of a cliff and paying hundreds of thousands of good American dollars for it, do you? Pray that it’s not somewhere near Devil’s Bridge either.

What all these advice is saying is that buying land in Antigua is easy, excellent and expensive. Seriously, we kid you on the last one.

Do Enjoy the Benefits

Antigua is a tax and investment haven in the Caribbean, which is one of the benefits of buying land in the island paradise. Although you may pay up to 25 percent of the total land value for government fees, agent commissions and other roundtrip transaction costs, the benefits far outweigh these expenses.

For one thing, you are allowed full ownership of the land. You don’t have to marry an Antiguan citizen to do so, which is not a bad idea in itself since Antiguan women are one of the most beautiful on Earth. And we’re not talking bodies only either!

For another thing, the medical and educational facilities, finance and business support services, and the transportation and communication logistics available in Antigua cannot be beat. If you do decide to make your Antiguan home your second base, you definitely will still stay in touch with the world while being removed from its cares.

So, the next time you are thinking of getting a piece of God’s Earth for your vacations, think no further than Antigua. It is God’s paradise on Earth!

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October 25

Planning to take out a loan? Before you proceed, you

Planning to take out a loan? Before you proceed, you need to make sure you will be able to meet all the requirements of lenders. One of them is showing proof that you have a stable income by being employed. You’d have to present an employment record and submit certain documents like pay slips and tax returns.

This is how the normal process of loan applications goes. Those who cannot adhere to the requirements are usually denied their request. This is because lenders have probably found them unfit for a loan. The most common reason is the lack of evidence that they have the financial ability to repay the loan. And they base their decisions on whether or not the borrower is able to produce the necessary documents.

But what about those who have money but without documents like pay slips? Will they be denied loans? It shouldn’t be since the whole point is to prove you have money for the repayments, right?

Ideally, there should be no problem as long as the source of income is established. However, being worried as they are, lenders want to make sure that they have enough proof to show strong financial status. Saying you have money and a job that pays well is not enough. Your requirements need to show that.

This is where things can go wrong for a lot of people. How do you think you’d be able to take out a mortgage with no payslips or any other document?

This can really be a challenge for a lot of interested homebuyers. But there is a solution to this. If the typical lender does not want to give you a loan, then look for another one.

Know that there are many other lenders out there who are willing to gamble on you. They’re more lenient and would look for other things that would show you have the ability to pay off a loan.

It’s all right if you do not have any pay slips. They’d understand that you might have a job that is not like other people. You could be a casual worker or get more money form bonuses. They will not be too strict about certain policies and would look for ways on how they can actually help you.

Based on the other proof you can provide, they will assess your financial situation and, hopefully, award you with the loan. It’s not really hard to do it especially when you have a mortgage broker to help you.

It’s really advisable that you seek the help of mortgage brokers because they know how to go around these types of problems. They now which lenders offer alternative solutions like unusual employment mortgage.

They will convince lenders that you are fit to receive a loan. They can even negotiate for the most competitive rates and allow you to borrow as much as 90% of the property value.

With their help, you can still take out a mortgage with no paylips or any other documents that typical lenders are going to ask from you.

It will definitely make buying a house a lot easier.

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October 10

Personal anecdote: I have a friend, we’ll call him Fletcher,

Personal anecdote: I have a friend, we’ll call him Fletcher, who is considering enrolling in law school as soon as he finishes his undergraduate studies at Syracuse University. Ever since I’ve known Fletcher, he has dreamed of pursuing a career in law. The field of law has changed over the years. At first he was looking to be a criminal defense attorney, one day he decided to pursue immigration law, then there was the year he thought he should specialize in copyright law. Right now, Fletcher is in ambition mode, and wants to primarily focus on constitutional law. That is he attends law school at all. His once unwavering enthusiasm has been somewhat tampered as his undergrad days come to a close. Many of his family friends have been working at steering him away from applying to law schools. Fletcher says he receives a few articles a week in his e-mail inbox from these people, all of which paint a gloomy outlook for law school students? Why, I asked myself and him. Shouldn’t those who want to enroll in law school be encouraged? Sure, it’s a tough route, but doesn’t it lead to one of the most lucrative careers an American possibly have?
The answer is that used to be true. That used to be true even as recently as 2007. That year was a record breaking year for law school graduates in search of employment. Many of these graduates were able to find entry level positions at some of the biggest law firms in the country, firms that offer a sizeable starting salary. This was the boom year. But like so many booms, a bust inevitably follows. This bust happened fairly quickly too. In March of 2012 alone, the legal industry lost close to 1,300. That’s on top of the staggering loss of jobs in 2011, which equated to 2,500. According to the National Association for Legal Career Professionals, only 87.6 of law school graduates are currently employed, the lowest that total has been since 1996. Of those currently employed, only 50.9% of them had careers at a law firm.
The decline in employment for law school students can be traced back to a few reasons. One of them is the general state of the American economy. The entire country is currently plagued by an unemployment epidemic. Even as jobs are steadily increasing, it is happening far too slowly. The unemployment rate has been slightly north of the 8% mark for the past year. The boom of 2007 is another reason that many recent law school graduates are having a terrible time finding work. Since so many of those top positions were filled only a few years back, the top candidates have been forced to seek employment at mid-level firms in smaller markets. This shakes all the way down to the mom and pop firms that employ two to ten attorneys. While graduates who are able to land jobs even at the latter firms are typically grateful to have been able to find employment at all, the salary is far lower than what they were anticipating on.
The looming problem for these graduates is the debt they are in the second they graduate. According to “U.S. News & World Report,” the average law school student graduates with a debt burden of $100,433, and this is a debt they have to start paying immediately. For a lot of recent graduates who can’t find employment, paying the monthly fee is at best impossible. This exorbitant debt is largely attributed to the skyrocketing tuitions at law schools. Even schools listed in the bottom fourth of law schools have tuitions north of $37,000 per year.
People like my friend Fletcher are all of a sudden being dissuaded from pursuing law school. In the past, people have been dissuaded only because of the huge work load and a lack of passion. But for possibly the first time, there are monetary reasons as well. For more information about labor and employment or automobile accident lawyers, check these out.

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September 30

What a lot of people experience as they try to

What a lot of people experience as they try to incorporate The Law of Attraction and other abundance practices into their lives is Doubt. The same response is common for some people engaged in an affirmation practice, or creative visualization to name a couple of others.
There is an interesting paradox here. There are many practices that can work if you can apply your whole mind and heart to them. The problem is that many of us need a dose of understanding to go along with it in order to satisfy our rational mind. Not having the understanding of the underlying process can result in doubt which will then become a distraction to the process we are involved in.
In the case of The Law of Attraction the explanations are usually in terms that the rational mind has a hard time grasping or relating to our common experience. We hear about Quantum Physics, thought vibration, the higher or creative self, and so on. Again, these things may in fact be true but how does one grasp this and assimilate it into their own experience if they tend to be left brained?
In my own experience as a spiritual seeker with an enlarged left brain I have answered the question of how does LOA work this way and have found that it works for me on the ground:
There are three main pillars underlying the process of attracting what we want:
1. Innattentional Blindness: we will see what we expect to see. Considerable research has been done on this. It is amazing what we do not see that is right in front of us because we do not expect to see it. Go to for a short video demonstration of this phenomena. Before you go, the task is to count the number of times the people in white shirts pass the ball back and forth to each other.
Try it again only this time focus on the black shirts.
Has anyone had the experience of buying a car and then suddenly seeing the same car a lot more frequently than before you bought the car? Pregnant women have told me that during their pregnancy they see pregnant women everywhere.
If we put our mind on something then we are more likely to see it, or to see something related to or leading to our goal. This is one of the advantages (not the only one) of having a clear vision of what we want. If we are particularly good at visualizing what we want and tend to be a little more right brained then things start to appear almost as if by magic.
2. Subconscious communication: We are always expressing ourselves whether we are consciously aware of it or not. No matter how hard we try, the facial expressions, the body posture, and the quality of our voice will betray what we are thinking above and below the threshold of our own awareness. Whatever dominant thought patterns we are running will come out in one or more of these ways. Here again is an example of how important it is to have our vision clear and constantly running in our mind.
We form impressions about people rather quickly, one of the reasons is that our subconscious, as a communicator in its own right, picks up the queues from the other person and forms a reaction that we may not even be aware of. Google in “Automaticity” for a lot of information on this. This subconscious communication can cause us to be attracted to or cause others to be attracted to us. Seemingly with no conscious intervention by ourselves.
3. The third pillar is Action: If we don’t take action what happens to us will be more a result of what other people want, not what we want. The other very interesting thing about action is its compounding nature. Action on top of action builds our experience causing each subsequent sets of action to be more effective. Small individual actions within a set may be setbacks, but they really are lessons upon which to build.
How many times have we set out on a course towards a particular goal not knowing how were going to get there. I think we did this frequently as children in part because there was less dialogue telling us we Can’t. How many times have you ended up somewhere as a result of a long course of action and wondered “I never would have thought I would end up here …” It seems like magic.
The great thing is that the two types of people (left and right brained for a convenient label) can end up in the same place by basically using the same process. Clear vision is always the starting point though; without it we will only get what others want us to have or what our dominant scarcity thinking will allow us to have.

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September 27

Bad credit mortgage lenders are in more demand than ever

Bad credit mortgage lenders are in more demand than ever before, yet the there don’t seem to be any mortgages available for the millions of people in America who want to buy a home with bad credit.

The Mortgage Lending Crunch

I get it. The economy tanked, wallstreet crumbled, jobs were lost for millions, and a lot of good people like me and you had to choose between paying loan bill on time or putting food on the table for our family. During these rocky times, many were humiliated and kicked out of their home, veritably shutting the door on the American dream of home ownership.

Things are still tough, but if you are one of the lucky few who learned from past financial misteps and have righted your financial situation back to a healthy one, you must be eager to take advantage of record low real estate prices and buy a home again to return to home owner status.

Eager and full of hope you, looking to finance a home you are running into a brick wall trying to find bad credit mortgage lenders for your dream home. Bad credit mortgage lending just ain’t what it used to be…

Finding a mortgage lenders willing to work with bad credit people is almost impossible presently. As sub-prime borrowers there are relatively few loans available, and the banks that claim they offer bad credit mortgages are in actuality only loaning out money to ‘less than good credit’, but true a true bad credit history will be denied outright.

You may have a good paying capacity but the credit markets simply don’t have the money to risk on higher risk bad credit loans.

Is All Hope Lost?

I wouldn’t recommend giving up your search for a mortgage, so if you wish to tenaciously pursue a mortgage option, I would like to provide you some places to start.

First, begin your search with a mortgage broker who will look for a lender that is willing to offer their money in spite of your credit limitations as a borrower. Mortgage brokers typically will have a stable of lenders that they can shop your mortgage stats to in order to find a good fit.

Generally, as a middle man your mortgage broker will receive be paid a fee equal to a certain percentage of the loan amount. The benefits of using a mortgage broker to look for lenders is that they will do all the leg work for you, presenting your credit details in the hopes of finding a lending institution that can squeeze out an approval for you.

It is important to keep in mind that each mortgage broker can have different lenders that they work with, so just because one broker says they cannot get you a mortgage because of your bad credit, keep trying. Some brokers work with private lenders that can have unique approval requirements for the money they are lending.

Prepare ahead of time for the review that you encounter, as you will only save yourself time. Get yourself a copy of your credit reports from the three bureaus, bring them with you, and bring reference letters and additionally letters explaining the situation behind the bad credit occurrances that brought down your scores.

You do not want multiple banks and brokers pulling your credit over and over as it will only lower your scores further if you acquire too many credit inquiries in a short time. At this point in the game we need every leg up we can to get your mortgage approved.

Additionally, it would not be a bad thing to bring a budget list that indicates the money you receive monthly and your expenses. The stronger a financial picture you can paint, without stretching the truth, can help tip the scales in favor of a bad credit mortgage approval. As you can imagine convincing the pontential mortgage lender evidence of how you can pay the loan will not hurt.

Another option to get a bad credit mortgage lender to approve you is to offer a larger down payment more than the usual 3%, 10% or 20%. This is another mortgage strategy to show the lender the willingness and ability as a borrower to save and pay on your obligation. The increased equity acts as additional security for your loan protecting the mortgage lenders interest in the loan. As an added bonus you will reduce your monthly payments.

Understandably, not everyone has the ability to increase the down payment…

What to do if you cannot get a bad credit mortgage lender to approve your loan?

If you try time and again and feel you have exhausted all your options to get a bad credit mortgage, then it might be time to try creative mortgage alternative home buying strategies.

We have developed a quick guide to getting a mortgage with bad credit that outlines creative mortgage alternatives. Check out our guide on how to buy a house with bad credit to learn more about home buying alternatives to mortgage loans.

A brief run down of your options would be to pursue owner finances or private lenders. If the seller of a home owns the real estate outright, there is almost no end to the flexibility with which you can structure a purchase contract and agreement.

The idea, of course, is to create a win win solution that solves the home sellers need to sell and meets your inability to get a traditional mortgage financed.

The purchase can be arranged in a manner that the seller becomes the bank effectively providing a bad credit mortgage to you on his or her qualification standards whatever they may be. In many cases it could be determined by the steady look in your eye and a handshake.

Additionally, a sad result of the economic down turn is there are a number of desperate sellers that cannot meet the payments of their own mortgage and face foreclosure and eviction. In these cases it is often possible to create what is known as a ‘subject to’ home purchase.

Essentially, in lieu of your acquiring your own bad credit mortgage, you take over in a manner the mortgage of the current home occupant. It is an advanced home buying technique for bad credit people that your title company can help you structure.

The other option is to wait out the current economic slump and mortgage crunch. If one thing is certain, times, both good and bad are cyclical. With time mortgage lenders pockets will get flush with cash again and they will return to being desperate for borrowers with both good and bad credit. If you continue saving while you wait for their return, you will be more than capable of qualifying for whatever the more flexible bad credit mortgage lender requirements may be.

Which Mortgage Lenders Loan to Bad Credit

It’s impossible to know which lenders will offer mortgages to bad credit people, but the following is a review of mortgage lenders most likely to based on what we know today.

Citigroup Mortgages
One of the well-known mortgage lenders is the American-based company Citigroup. This is the first company a borrower with a bad credit history will likely try. They provide adjustable and fixed rates. For a 15-year mortgage, they offer the lowest interest rates. Citigroup is found in 54 countries outside of America. In the past they have helped people with a bad credit borrow mortgage loans.

In the current climate people are using adjustable rate mortgages especially those who have bad debts and are looking for a little short term relief. After they pay off the debts, the idea is to switch to a fixed rate to lock in historically low rates. Quite frankly, with the tumultous financial health of America and the international community, I do not recommned any adjustable rate mortgages presently. The risk of sky rocketing interest is just too great in these unstable times.

Bank of America
Bank of America usually offers a number of subprime bad credit mortgages. Aside from providing home mortgages, they have had a spotty record of helping clients facing financial difficulties and have earned a reputation as a tough lender. Bank of America is the third largest bank in America at the time of this writing.

Wells Fargo
Another mortgage lender is Wells Fargo. They have existed since the stage coach days and they have over 1000 branches in America. As a mortgage lender, Wells Fargo offers a number of online tools that have empowered the borrower. They have a good record of embracing technology to stay with the times and provide you additional benefits as a customer. They also provide loans with a fixed rate and low interest specifically designed for people with a bad credit history. In the past they have offered mortgage loan packages that allow borrowers to purchase a house and to make home improvements at the same time if they want to undergo renovation as simultaneous with their purchase.

Other mortgage lenders include Allied Home Mortgage Capital Corporation, Countrywide Home Loans, Inc., First Magnus Financial Corporation, GMAC Mortgage LLC, Primary Residential Mortgage, Inc., Bank of America Na Charlotte, Ark-la-tex Financial Services LLC, Premiere Mortgage Funding, Inc., First Horizon Home Loan Corporation and American Home Mortgage Corporation, each with their own benefits and negatives.

For further information check out our guide on how to get a mortgage approved with bad credit.

Undoubtedly, with bad credit you must expect any mortgage approvals to have a higher interest rate and service fees. They will also impose additional charges for late payments.

The bad credit mortgage lenders may be scarce today, but the time will come when they will return, and we will be sure to update our site with the mortgage offers as soon as they hit the market.

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September 27

Brazil is a huge country. With an area of 8.5

Brazil is a huge country. With an area of 8.5 Million square Kilometres and a population of over 200 million people, the country is the world’s fifth largest on both counts.
As a result of its impressive growth in recent years, Brazil has the largest economy in Latin America, the second largest in the western hemisphere and the sixth largest in the world (in fact, at the end of last year it overtook the United Kingdom in terms of national GDP). As a result, Brazil is widely seen as one of the globe’s up-and-coming nations. Indeed, it’s a leading player in the BRICS association of countries (Brazil, Russia, India, China, South Africa), a group of states earmarked as moving towards economic prominence (if not actual dominance) as the century progresses.
Internally, too, there’s been a steady transformation in the lives of the people. In the last couple of decades, for instance, persistent action by Brazil’s governments has done much to reduce poverty and increase educational and employment opportunities for its citizens.
This is very much a feature of the current administration led by President Dilma Rousseff, building on the achievements of the famous Lula’ and several other notable predecessors.
Of course, poverty and poor life chances do still exist but to a much lesser extent than before, and they continue to reduce, slowly but surely. It’s heartening that recent statistics show that for the first time ever (and probably unique in third-world terms), the so-called ‘middle class’ are now an absolute majority, 52% of the population.
Brazil has been working hard to develop its economy and infrastructure. To do so involves financial investment of different kinds, public sector, private sector and from overseas. As regards these the coalition government has sponsored or encouraged a number of interesting initiatives, often involving co-operation between the various sectors.
These public/private partnerships are known in other parts of the world, too, and take many different forms. In Brazil, perhaps the most successful example is the so-called ‘Minha Casa Minha Vida’ affordable housing ethical investements programme. This is a new idea in this country and is having a transforming effect on society.
Under this programme, and for the very first time, millions of ordinary citizens of relatively modest means are able to buy (with affordable mortgages) homes of their own. Private investment fuels the government-backed scheme, with high returns already being received by initial investors.
This is just one of the novel approaches encouraged by recent governments and it is running in tandem with other broader improvements. These include public education, health and sanitation as well as industrial and agricultural initiatives.
Brazil is rapidly becoming not just a developing economy but an .almost developed. one.
Investment in Brazil (as in most other countries) consists of two main types, the domestic and the foreign. Either of them can involve either private or public-sector finance of course and in some cases a mixture of the two.
Results can be very varied and the picture is highly complex, with many Brazilian companies ‘going global’ and many foreign-based corporations operating in the country.
Also, this leading BRICS nation is a member of many different international organisations
However, the national conditions of the country and the government’s direction of investment have themselves brought about tremendous changes in the country in recent years. Although the process was started before, the present coalition Government and its immediate predecessor have managed a dramatic transformation in the lives of the people. They’ve done this by managing a difficult set of conditions in a complicated balancing act, seeking to control interest rates, inflation and GDP together with housing, educational and health initiatives.
Currently, the basic ‘Selic’ rate of interest is slowly inching down, heading for single figures. Inflation is at 6.5 % and GDP growth is at 3% per year. Other facts include the country’s very important achievement of oil self-sufficiency this decade. In addition, the increased stability brought about by the historically new(-ish) currency, the Real has further improved the economic climate since its introduction in 1994. As for the balance of payments, Exports now comfortably exceed imports and the four biggest overseas markets are China, the USA, Argentina and Germany, in that order and together accounting for 42% of all exports.
All these features create a favourable background for people wishing to invest in Brazil especially in the main industries ; iron and steel, oil, coal, aircraft manufacturing and textiles of all kinds. Property is an up-and-coming field too, which will feature in an article later in this series.
One must also pay close attention to the 20% of the workforce who are employed in agriculture. This is a multi-million Real expanding sector with more than its share of recent controversy. These are centred on GMO’s (Genetically Modified Organisms), increasingly employed to boost yields and make crops more durablebut at too great a cost to environmental safety, some would say.
Investments are made by governments, companies and individuals for a mixture of reasons. While it seems obvious that seeking the best and the fastest profitable returns is a prime motivator, there are other purposes such as the perceived ‘social good’ of a particular enterprise.
In Brazil these days this is certainly true of the public sector projects of course but perhaps surprisingly, also of some of the infrastructure improving projects such as those to do with renewable energy. This includes bio-fuels such as ethanol but also, modest so far but increasing, wind power. Hydro was significant previously (and still is to some extent) but has proved susceptible to drought lowering river and dam levels. This led to a determined move to diversify to other renewable sources. The outcome is that a clear majority of the energy produced in Brazil today is from these non-carbon origins.

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September 24

People are losing their homes and many more will lose

People are losing their homes and many more will lose their jobs before the mortgage meltdown works its way through the system.
To paraphrase Alan Greenspan’s remarks on March 17th, 2008, “The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War. The crisis will leave many casualties.”
How many casualties? Experts are predicting that in the next few years, between 15 and 20 million homeowners could have homes worth less than what they owe. Walking away from a bad situation may actually make sense for people who mortgages that are ‘upside down’ considering the fact that refinancing is out of the question and home equity is nonexistent.
It seems quite easy to point fingers at greedy Wall Street titans for causing the sub-prime mortgage crises. They after all, put together the deals that allowed banks to underwrite mortgages and then offload these liabilities to investors. What many fail to realize is that there is no shortage of blame to go around from homeowners buying more home than they could afford to real estate agents looking for more commission dollars. Mortgage brokers and bankers, the banks themselves, ratings agencies such as Moody’s and Standard & Poor’s, Wall Street, the Fed and last but certainly not least, the Federal Government.
Let’s start with the homeowners–the people who are now in the process or soon to enter the process, of losing their homes. Some of these people had never before owned a home and as such, may not have been prepared for the costs associated with homeownership. Basic financial literacy is sorely lacking in this country despite there being no shortage of budgeting and tracking programs readily available such as Quicken and Microsoft Money. The lack of financial literacy does not absolve these buyers of their responsibility. Every borrower receives a truth in lending disclosure statement. Here is a portion of what the act covers:
The purpose of TILA (Truth In Lending Act) is to promote the informed use of consumer credit by requiring disclosures about its terms and cost. TILA also gives consumers the right to cancel certain credit transactions that involve a lien on a consumer’s principal dwelling, regulates certain credit card practices, and provides a means for fair and timely resolution of credit billing disputes. With the exception of certain high-cost mortgage loans, TILA does not regulate the charges that may be imposed for consumer credit. Rather, it requires a maximum interest rate to be stated in variable-rate contracts secured by the consumer’s dwelling. It also imposes limitations on home equity plans that are subject to the requirements of Sec. 226.5b and mortgages that are subject to the requirements of Sec. 226.32. The regulation prohibits certain acts or practices in connection with credit secured by a consumer’s principal dwelling.
Much of the subprime mortgage crisis can be traced directly back to variable-rate mortgages. As is clearly stated above, “TILA does not regulate the charge that may be imposed for consumer credit. Rather, it requires a maximum interest rate to be stated in variable-rate contracts secured by the consumers dwelling.” It also clearly states that TILA also gives consumers the right to cancel certain credit transactions that involve a lien on a consumer’s principal dwelling. One has to wonder whether or not these homeowners:
1. Bothered to read the truth in lending act disclosure at all.
2. Understood what the truth in lending act disclosure meant.
3. Chose to ignore the information printed clearly the truth in lending act disclosure.
A number of months ago, just as the subprime mortgage crisis was beginning to unfold, The New York Daily News ran an article about a family in New York City, who had bought a home and were now faced with the prospect of foreclosure. The article was sympathetic to this family, highlighting the fact that they’re living the American dream and that this dream was about to come to an end. What I found to be distressing was the fact that clearly visible in the photo that accompanied this sympathetic article was a very expensive flat screen television hanging on the wall. Perhaps I’m nave, but I can assure you that if I were faced with the prospect of losing my home and having my family put out on the street, there is absolutely no way that I would still have that expensive television hanging on my wall. It would have been one of the first things to be sold and some financial relief would be found by jettisoning what I’m sure was the expensive cable bill.
Clearly the public needs easy access to financial literacy courses. Too bad we don’t see the need to make this a mandatory course of study in our educational system.
Mortgage bankers and brokers have in the last four or five years been raking in cash by the bucket load in the form of commissions paid when mortgages they’ve originated, close. Many of these people have not needed to do much in the way of prospecting. Instead, their phones have run off the hook as people have jumped on the homeownership and refinancing and take out extra cash bandwagon, despite their ability to pay for their home. No-document loans were readily available without the borrower having to produce documentation that backed up their income. Clearly this practice can and indeed has, lead to substandard loan underwriting processes. Were some of these mortgage bankers and brokers dishonest? Sure. Were all of them dishonest? I think not. To have a massive nationwide conspiracy, where thousands and thousands of people involved in the mortgage banking and mortgage brokering profession got together to create this situation is simply not feasible. Yes, some of the blame does belong with those in the mortgage industry, but they were simply a small cog in the huge machine that created this mess.
Let’s discuss real estate agents. In 2007, we bought a home, and also sold a home. The agent we used to purchase our home was absolutely fantastic. In our opinion, she went above and beyond to make our deal happen. She answered every phone call, followed up on every concern and was the epitome of professionalism. We consider this individual to be a friend, and we have sent referrals her way that have resulted in her earning additional commissions. We will continue to recommend her to all who ask or mention that they’d like to buy or sell a home in our area.
The real estate agent, we used to sell our home, could not have been more different. We got our old home ready to sell prior to closing on our new home. We decided to list it as “For Sale by Owner.” In the event that we didn’t sell this home on our own, it was our intention to list it with an agent as soon as we had closed on the purchase our new home. Literally, from the day we put the sign in front of our home and listed it on a “For Sale by Owner” website we were inundated with phone calls from real estate agents. We were told many lies and were constantly harassed; although we had already made it quite clear to every agent who called, and there were more to 60 who did; that we were willing to pay half the commission-the same as they would have received had they sold another agent’s listing. We also told every agent that called that we had already lined up an agent to sell our home in the event that we chose to no longer sell it ourselves. Our deadline was the closing date of our new home purchase. We did have an interested buyer who shortly after our closing date decided to keep looking so we listed our home with a local agent so that we could concentrate on getting our new home ready for our moving date at the end of the school year. This agent showed our home a maximum of two times and got an offer which we accepted. We ended up getting $1,000 less than we had wanted in a declining Real Estate market. The agents who had called many times to harass us called our listing agent on a number of occasions and he lied telling them that the house was under contract when in fact it wasn’t at that time-clearly a breach of our agent’s fiduciary duty. Quite frankly an ethical agent would have continued to show our home until closing in the event that the deal fell through.
But wait, there’s more. Our agent also acted as the buyer’s mortgage broker. At the closing table, we learned that he had signed documents from the buyer stating that he (our agent) represented them and we had signed documents stating that he represented us. We also learned that the buyer had effectively put down approximately 2-3% of the purchase price when financed closing costs were factored into the equation. Their first mortgage had what we thought was a high fixed rate and their second mortgage came with a rate in excess of 8.5%. Because the closing happened in August, literally in the midst of the first wave of the meltdown, if they didn’t close on the day they did (August 31st, 2007), Citibank wasn’t going to extend their rate. When my wife & I have bought houses in the past, it had always been a very happy day. These people looked absolutely shell-shocked at the closing table. I’m not convinced that they knew just how much their monthly payment was going to be until closing day. We knew down to the penny well in advance having budgeted and planned everything on a spreadsheet. Were these people stupid or just inexperienced and mislead by a greedy combination of real estate agent & mortgage broker? I’m extremely confident that they are intelligent people but inexperienced and taken advantage of by an unscrupulous agent.
The banks are also culpable. Prior to bank deregulation, Savings and Loans provided mortgages to home buyers and kept these loans on their books. Non-performing loans had a negative effect on the S&L’s profitability which of course caused tighter lending guidelines such as job stability and decent down payments in order for prospective home buyers to be approved for a mortgage. Way back then, a home buyer had to actually save up enough money for a down payment 10 or even 20% before a bank would ever consider underwriting a mortgage. The checks & balances kept banks solvent and borrowers responsible. Although this approach worked, some cried foul stating that the regulated system was racist and discriminatory-and there certainly was some truth to this. Skipping forward to the present, banks made a bundle on mortgages over the past five or six years. For the most part, they allowed their underwriting criteria to be stretched so far out of alignment that almost anyone could and indeed did, qualify for a mortgage despite their ability to pay. Some folks even applied for and received mortgages for more than the property was worth. Sometimes for as much as 25% more than their property was worth!
Under the prior system, 125% mortgages would not have been possible because of course these loans were held on the banks’ books and could have led to losses that would have had to have been absorbed directly by the bank.
So what went wrong? Under the current system, these loans were sold to the big Wall Street investment firms who repackaged them as collateralized mortgage obligations (CMO’s), Mortgage Backed Securities (MBS’s) and other similar acronyms. These instruments were then sent to the ratings agencies for their blessing and more importantly a letter rating. Many of these structured finance deals receive AAA ratings-the highest ratings available meaning that in theory, these instruments were least likely to default. How does one create a ‘triple A’ or AAA rated financial instrument out of sub-prime mortgages? Herein lies the magic. These Asset Backed Securities (ABS) are made up of different tranches or slices, each carrying a different risk and reward level. The first dollar of principle and interest is applied to the securities with the highest rating, and the first dollar of loss is applied to the tranche with the lowest ratings. The lower slices are designed to provide a security blanket that in theory protects the higher-rated securities. The investment banks that package or ‘structure’ these securities in order to earn fat fees when they sell them to investors are the same entities that pay the ratings agencies to rate these instruments. Clearly the possibility for conflict of interest is present. If investors and not the investment banks that stand to rake in millions in fees were to pay for the rating, the potential for this conflict of interest would be negated. Furthermore, the investment banks have a vested interest in convincing the ratings agencies of the credit worthiness of these securities.
So we’ve already pointed fingers at homeowners, some greedy, many more I suspect, nave or uninformed, real estate agents-one out of more than 60 in my experience was a gem, mortgage brokers & bankers, banks, Wall Street and ratings agencies so who’s left? The Federal Reserve and the Government of course.
The Fed as its known is responsible of the country’s monetary policy and for supervision and regulation of banks. This is the definition of the Fed’s roles in their own words:
Monetary Policy
The Fed is best known for its role in making and carrying out the country’s monetary policy-that is, for influencing money and credit conditions in the economy in order to promote the goals of high employment, sustainable growth, and stable prices.
The long-term goal of the Fed’s monetary policy is to ensure that money and credit grow sufficiently to encourage non-inflationary economic expansion.
The Fed cannot guarantee that our economy will grow at a healthy pace, or that everyone will have a job. The attainment of these goals depends on the decisions of millions of people around the country. Decisions regarding how much to spend and how much to save, how much to invest in acquiring skills and education, how much to spend on new plant and equipment, or how many hours a week to work may be some of them.
What the Fed can do, is create an environment that is conducive to healthy economic growth. It does so by pursuing a goal of price stability-that is, by trying to prevent inflation from becoming a problem.
Inflation is defined as a sustained increase in prices over a period of time.
A stable level of prices is most conducive to maximum sustained output and employment. Also, stable prices encourage saving and, indirectly, capital formation because it prevents the erosion of asset values by unanticipated inflation.
Inflation causes many distortions in the market. Inflation:
hurts people with fixed income-when prices rise consumers cannot buy as much as they could previously
discourages savings
reduces economic growth because the economy needs a certain level of savings to finance investments that boost economic growth
makes it harder for businesses to plan-it is difficult to decide how much to produce, because businesses can’t predict the demand for their product at the higher prices they will have to charge in order to cover their costs
Bank Regulation & Supervision
The Fed is one of the several Government agencies that share responsibility for ensuring the safety and soundness of our banking system. The Fed has primary responsibility for supervising bank holding companies, financial holding companies, state-chartered banks that are members of the Federal Reserve System, and the Edge Act and agreement corporations, through which U.S. banking organizations operate abroad.
The Fed and other agencies share the responsibility of overseeing the operation of foreign banking organizations in the United States. To insure that the banking system remains competitive and operates in the public interest, the Fed considers applications by banks for mergers or to open new branches.
The passage of the Gramm-Leach-Bliley (GLB) Act in November 1999, was the culmination of a multi-decade effort to eliminate many of the restrictions on the activities of banking organizations.
Some of the main provisions of the GLB are:
Repeals the existing limitations on the ability of banks to affiliate with securities and insurance firms
Creates a new organizational form that allows banking organizations to carry new powers. This new entity called a “financial holding company,” (FHC) and its non-banking subsidiaries are allowed to engage in financial activities such as insurance and securities underwriting
The Fed’s enlarged role as an umbrella supervisor of FHCs is similar to its role in supervising bank holding companies. The Federal Reserve Banks will supervise and regulate the FHCs while each affiliate is still overseen by its traditional functional regulator.
The Fed has to delineate the financial relationship between a bank and other FHC affiliates. Its primary goal is to establish barriers protecting depository institutions from the problems of a failing affiliate. To do this efficiently the Fed has to ensure increased communication, cooperation, and coordination with the many supervisors of the more diversified FHCs.
The Fed has access to data on risks across the entire organization, as well as information on the firm’s management of those risks. Regulators will be in a position to evaluate and presumably act on risks that threaten the safety and soundness of the insured banks.
It would appear that the Fed has failed to curb housing inflation which played a role in this entire debacle then made matters worse and in their efforts or lack there of, to properly supervise banking institutions.
Finally the government, a.k.a. Uncle Sam, the big Kahuna 10,000 pound elephant etc. Where do we begin? How about with: ‘Where were they?’
It now appears that after millions of horses are out of the barn (some horses ran, others were foreclosed upon) the government wants to step in with a bailout to save the rest. While nobody wants to see people lose their homes, the question that must be raised is this: What about all those of us who were responsible? Those of us, who scrimped and saved up a decent down payment, bought less-house than we could afford and who live below our means? Many of us drive older cars and keep them longer. We don’t run out and buy the latest and greatest at inflated prices, we watch, wait and budget.
When the World Trade Center was attacked, families who decided not to sue received government payouts and we certainly don’t begrudge them as I’m sure that given the choice, they’d prefer to still have their loved-ones over the money. The problem, in typical government fashion is that those who were responsible and had insurance policies in place received less than those who were irresponsible and didn’t plan ahead. I’m not talking about dishwashers at Windows on the World and blue collar workers; I’m talking about executives, traders and people who should have known better.
Now our government, the same government that sat by idly watching as this bubble got bigger and bigger despite many warnings, wants to step in and bailout people who are in danger of losing their homes. There has been no talk about educating people, let’s not teach people to fish, rather, let’s give them a fish and bail them out once again at the expense of those who are responsible.
Clearly, by keeping the majority of the population financially ignorant, there is a lot of money to be made by the poverty industry.

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September 23

Deeply caring for others invites us to step over the

Deeply caring for others invites us to step over the relationship line and tell people what to do with their lives. Another motivation is not so benevolent. The actions others take can directly benefit or harm us. Of course, we care.
Controlling behavior means offering unsolicited help to friends and loved ones and being unhappy if they don’t embrace our suggestions. Being right doesn’t matter.
This article offers an approach to expressing your opinions while showing respect for the important people in your life. It will guarantee you the love you deserve for caring enough to want to influence them.
We all strive for good communication. Communication is important anywhere and it is most important at home, in dealing with our loved ones. In the area of controlling behavior, family matters are particular challenging. Here is an example situation in which all of us would be tempted to offer unsolicited advice.
You carefully raise and protect your child, always keeping him safe from making irreconcilable judgment errors. Now, at age 22, he tells you he is joining the Army. You die inside. You envision the battlefield, with the bombs going off, and your child lying on the ground along with other wounded soldiers.
Instead of immediately telling him “No, he can’t join the Army,” and to “get that thought right out of his mind,” consider taking another approach.
First, ask his permission to give your opinion. If he says, “No,” then no it is. Respect his answer and hope for the best.
By telling you of his decision, or about an issue that concerns him, he is partially asking for your thoughts on the subject, but maybe not completely. He may simply want you to listen. You have to make sure. If he says, “O.K., I guess so,” the message translates to, “No, I don’t want to hear what you have to say.”
If he gives you his approval, express your opinion in gentle terms. Something like, “I realize there are many factors to consider, and you probably have thought of them all through.” Then, ask if he has thought about … (your side of it)…, then give your opinion or the contributing factors leading up to your opinion.
Make sure you add that you will support and love him no matter what he decides to do. Of course, you have to mean it. Given space, he will consider the issue and not just react to the opposition. He may even change his mind on his own.
Now, here is the difficult part, you have to honor his decision and detach yourself from the possible outcomes. Let go and accept whatever happens.
Do not connect with your feared results of his decision. Each of us has our own catastrophe demons and in most cases, our fears never come true. You may call this taking the “Support High Road,” and it really is. True communication and caring is the result of this approach. He will love you for it.
We all want the people we love to make logical and safe choices with their lives. However, the lives are theirs, and true caring sets them free to live it.
Basic Relationship goals are that we want our special people to like or love us. By supporting them, rather than controlling them, we earn their love and respect.

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September 13

It is crucial to regularly check the wellness of your

It is crucial to regularly check the wellness of your home loan. Why? You would like to help save just as much cash as possible. A home loan check can help you determine whether your present mortgage loan is still accomplishing its part to help you to save money. There are several life-changing situations that could happen in annually. Your fiscal circumstance might change when you lost work or the market has encountered an abrupt slowdown. Listed below are many of the most general reasons why people decide to refinance their mortgage loan:
They need to invest in a new vehicle for the family
They wish to allot more money for education
They want to create a swimming pool
They wish to settle their mortgage loan the soonest and become debt free
They desire to improve their cash flow
They want to avoid financial stress caused by high repayment premiums
They wish to free up money for the rainy days
Essentially, refinancing works by changing from your active mortgage loan into a brand new one. The application form process for refinance house loans is pretty much the same with the normal mortgage applications for regular mortgages. You should first consult with your broker and lender to have your circumstance and finances evaluated. They must be in a position to evaluate if a mortgage refinancing mortgage will work for you.
After doing a preliminary investigation of your circumstance, they will have the ability to provide you an index of the feasible refinancing offers that could match your predicament. It will be your task to check these choices although your mortgage loan broker or loan company may also give you good money tips.
You need to use unique house loan calculators and examine mortgage loans. A refinance mortgage calculator specifically is a mortgage calculator you should use. This will likely permit you to factor in your savings each month and review your principal balance over the years both with and without refinancing.
Founded upon your active and estimated home loan repayments, the refinance mortgage calculator will calculate the amount you can save once you refinance. It will likewise show you the main difference in principal balance in 5 years for the refinanced mortgage and your present loan.
Refinancing includes various expenses like:
Application charges
Valuation fees
Mortgage insurance (based upon your loan sum)
Document and service fees for solicitors
Government fees and other charges
Stamp duty
Discharge fees
Title insurance
Penalty repayment

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