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refinance and mortgage info around the web

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Updated: 2017-12-02T20:42:10.157+07:00


Plastic Money For Beginners


Plastic money” is a term dubbed by the people of the world in reference to the wondrous item called the “credit card.” And at the rate the economy is going and with the pace of life that we have right now we want everything done the express way. That’s why a lot of businessmen, young professionals, big bankers and even well-off students are lining up inside their trusted banks, credit card application in one hand and the need to have instant credit on the other.

Of credit, cards and credit card application
Credit card applications have taken over the need to have cold cash and a lot of people are trading in their hard-earned green bucks for a shot of having the charge-it-card. But along with your credit card application is the responsibility that we are mainly unaware of. So when you are thinking about falling in line to get started with your credit card account and before you start filling up the fields necessary to get up and running with your credit card application know all the precautions and the counter measures for you to be protected by the federal law. Credit card application, as we all know takes a lot of time with regards to the verification of the identity of the person on top of the credit card application. Because of the US Patriotic Act that requires further verification of anyone applying for anything on the United States, that includes credit card application, getting anything in the US has become quite a chore. But since the importance of having a credit card is top priority in the US many are still willing to go to immense amount of trouble that is coupled with it.

The importance of having a credit card is very imminent; take for example the average American. An average American from the middle class bracket owns about eight to ten different credit cards and uses all of them at an average if once a day. With this number it’s not surprising that there are about a hundred thousand credit card applications being processed in a single day. And the rate if credit card applications are still expected to rise within the next quarter. The need for credit cards and debit cards is for real and the market should be open for more credit card applications that is expectedly going to flood their way. There will be a great need for more people to look into the responsibility of educating other people on how and when to use their credit cards, because it’s hard earned greenbacks that we are throwing away when we buy online porno and junk like that only profit a few people. So whenever you’re ready grab a pen and paper and get ready to fill up that credit card application form and take one step in the express charging the way you buy.

Most of the time, although your credit card application is mailed to that states that you have been pre-approved, you will still be asked to fill out a credit card application or the ‘acceptance form’. The reason behind this is the need of the bank or the company to verify the identification of the person they have sent the card to. Since most companies offer online credit card application, you may go online to fill out the form so the processing will be convenient and easier.

When filling out your credit card application, there are some important details that should be considered aside from your name and contact information like the query should you accept every offer or not, the possibility of hidden fees that can be quite expensive and the like.

What You Need To Do Dealing Wih Discounts


Rebates have become more and more popular in the end a few years on a lot of items and for certain on electronic items and computers. Rebates of $10, $40 or $150 are not rare.

I have even seen items advertised as “free after discounts”. Do these rebates come under the heading of “too good to be true”? Some of them do and there are “catches” to watch out for but if you are careful, rebates can help you get some really good deals. 

The way a rebate works is that you pay the enrolled cost for an item then mail in a form and the bar code to the producer and they send you a refund thus reducing the price of what you paid for the item exclude with a time delay of several weeks. 

Rule #1. Discounts from reputable companies are usually just fine.

You will be able to be pretty sure you will acquire the promised rebate from Best Buy, Amazon or Dell but you should probably not count on getting one from a accompany you have never heard of. If you really want the product and are OK with paying the price enrolled then buy it but do not calculate actually getting the refund. 

Rule #2. Check discount expiration dates.

Many times products will stay on the shelf of a retailer after the date for sending in the rebate offer has expired so check that date carefully.

Rule #3. Be sure you have all the forms asked to file for the discount before you leave the store.

Discounts will almost always require a form to be filled out, a receipt for the purchase and a bar code. 

Rule #4. Back up your rebate claim. 

Make replicates of everything you send in to get your discount admitting the bar code. Stuff gets lost in the mail all the time and if the rebate is for $50 it’s worth the trouble to back up your claim. 

How To Spend With Wisdom to Save Money


Have you ever discovered that the things you buy each week at the market and ironmonger'ses go up a few cents between shopping trips? Not by often…just by a bit every week but they continue to sneak up and up.

All it deems the price to jump up by a lot of  a bit hiccough in the world wide market, note the price of gasoline as it relates to world affairs.

There has a way that we can keep these price increases from affecting our personal finances so much and that is by stocking quantity and finding the better conceivable costs as the things we apply and will continue to use everyday… things that will keep just as well on the shelves in our homes as it does on the shelves at the grocery store or hardware store.

For instance, dog food and cat food costs about 10% to a lesser extent when bought by the case than it does when bought at the single can price and if you await as preclude costs you save many more than that.

Allow some blank space in your home and make a list of things that you use on a regular basis which won't spoil. Any grain or grain products will need to be stored in airtight containers that rats can’t get into .

Then set out to find the best prices you can get on quantity purchases of such things as bathroom items and dry and canned food.

You will be surprised at how much you are able to save by buying a twenty pound bag of rice as opposed to a one pound bag but don’t forget that it must be kept in a rat proof container.

You can buy some clothing items such as men’s socks and underwear because those styles don’t change, avoid buying children’s and women’s clothing, those styles change and sizes change too drastically.

Try to acquire and keep a two year supply of these items and you can save hundreds of dollars.

Budgeting : Avoiding Impulse Expending


Answer this questions honestly:

1.) Does your mate or partner sound off that you expend too much money?

2.) Are you surprised every month when your credit card account arrives at how much more you billed than you thought you had?

3.) Do you have more shoes and clothes in your closet than you could ever maybe wear?

4.) Do you own every newly gadget before it has time to collect dust on a retailer’s ledge?

5.) Do you buy things you didn’t know you wanted until you saw them on display in a store?

If you replied “yes” to any two of the above questions, you are an impulsion spender and indulge yourself in retail therapy.

This is not a fine matter. It will preclude you from saving for the important things like a house, a new car, a vacation or retirement. You must set some financial ends and refuse spending money on items that really don’t matter in the long run. 

Impulse expending will not only arrange a strain on your funds but your relationships, as well. To get over the problem, the first thing to do is learn to separate your needs from your wants.

Advertisers blitz us hawking their products at us 24/7. The trick is to give yourself a cooling-off period before you buy anything that you have not designed for. 

As you go shopping at, make a list and take only enough cash to pay for what you have planned to buy. Leave your credit cards at home.

If you see something you think you actually need, give yourself two weeks to settle if it is really something you need or something you can easily do without. By following this simple solvent, you will restore your financial fences and your relationships.  

Ohio Unemployment Claim Guide


Unemployment Compensation Claim InformationOHIO HAS ONLY TWO WAYS TO FILE FOR UNEMPLOYMENT COMPENSATION BENEFITS:File online at, 24 hours/day, 7 days/week. Limited service may be available while our system is being updated nightly. Check the website for available services. Please be sure to follow the prompts.Call toll-free 1-877-644-6562 or TTY 1-888-642-8203, (excluding holidays) Monday through Friday 8:00 AM - 5:00 PM.To apply for a new unemployment claim or reopen a previously filed claim, you must call on the day associated with the first initial of your last name:For last names beginning with A through I, please call on Monday.For last names beginning with J through L, please call on Tuesday.For last names beginning with M through S, please call on Wednesday.For last names beginning with T through Z, please call on Thursday.If you have missed your filing day, please call on Friday.TO REGISTER FOR UNEMPLOYMENT BENEFITS, YOU WILL NEED:Your social security numberYour driver license or state ID numberYour name, address, telephone number, and e-mail addressName, address, telephone number, and dates of employment with each employer for whom you worked during the past 6 weeks of employmentThe reason you became unemployed from each employerDependents' names, social security numbers, and dates of birthIf claiming dependents, your spouse's name social security number, and birth dateIf you are not a U.S. citizen or national, alien registration number and expiration dateYour regular occupation and job skillsYou may also have to provide:      If you had out-of-state employment, have worked for the federal government, or are separated from military service, more information is required, including:Form DD-214-member 4 copy (for military service)SF-8 or SF-50 form (for federal government employment)WHAT HAPPENS WHEN YOU CALL THE TOLL-FREE NUMBER:When you call the 1-877-644-6562 number, you will be requested to select one of the following number options:Press #1 for assistance with unemployment applications.Press #2 if you are calling to file for weeks of benefits, for payment information, or to inquire on the status of a previously filed claim.Press #3 if you are responding to a statement of overpayment you received in the mail or a notice of change in work-search requirements and are required to register for employment services.If you do not have a touch-tone phone, stay on the line and your call will be directed to a customer service representative.ONCE YOUR APPLICATION HAS BEEN FILED:You will receive further information by mail or email.Your claim will be assigned to a Processing Center based on the last four digits of the claimant's social security number. Click on the above Processing Center link to view this information.If filing online and you need your Personal Identification Number (PIN) reset, please call the toll-free number 1-866-962-4064.The News Release of Ohio Unemployment Rates can be look in the bureau or in Ohio data center.[...]

Win Over Foreclosure Mistaken


Magaly Cervantes and Julio Bermudez started this week in tears. But they ended the week in celebration.I met the couple on Tuesday when I visited the Dade County Courthouse to observe the foreclosure court proceedings. The court heard dozens of of cases that day, but Ms. Cervantes stood out immediately: Her eyes were red and puffy from several days of crying.But there were no tears as she sat in the back row of courtroom 3-3 in downtown Miami Tuesday morning. Ms. Cervantes wanted to be strong for her mission: Convincing Senior Judge Robert M. Deehl that her Hialeah Gardens condominium wasn’t supposed to be foreclosed upon.Ms. Cervantes says she and her longtime partner Julio Bermudez fell behind on their mortgage payments two years ago. In August of last year, they applied for and were granted a loan modification from J.P. Morgan Chase, which services the mortgage. Since then, Ms. Cervantes says they never missed the $659.30 payment.Then, last Saturday, the couple received a letter saying Chase foreclosed and the condo was sold online.Just a few minutes after 9 a.m., on Tuesday Ms. Cervantes and Mr. Bermudez stood before the judge. In broken English, they tried to explain the situation. “There’s nothing I can do about the sale,” Judge Deehl says matter-of-factly. “You’re going to have to deal with the bank.”They tried calling Chase many times, they said, but couldn’t get anywhere. After inquiries from The Wall Street Journal, Chase looked into the matter and discovered they made a mistake. In an email, a Chase spokesman said, “We are working to reverse the sale, and are reaching out to the customer to apologize. We have also been reviewing the application for a permanent modification.” No further detail was provided.The couple is still waiting to hear directly from the bank, but feels relieved for now. “I don’t want to lose my apartment,” Mr. Bermudez said.There are likely more cases like this that won’t end as happily. As the foreclosure crisis drags on and lenders struggle under the million-plus homes in some stage of foreclosure, homeowners are complaining about errors. But it is difficult to quantify the exact number because such cases aren’t tracked and don’t always receive publicity.As we wrote earlier this week, banks say that these errors are technical and that the foreclosure process is essentially sound. But many borrowers complain about receiving contradictory information from different employees. Often, banks’ mortgage servicing companies—which are overwhelmed and under staffed–have different departments working at cross purposes on the same cases. The legal departments are trying to get foreclosures completed as fast as possible while the loan modification group may be working to help borrowers get back on track with a loan modification.source : wallstreetjournal[...]

What is Debt?


What is debt? according to wikipedia, Debt is that which is owed; usually referencing assets owed, but the term can also cover moral obligations and other interactions not requiring money. In the case of assets, debt is a means of using future purchasing power in the present before a summation has been earned. Some companies and corporations use debt as a part of their overall corporate finance strategy.

The word "DEBT" mostly scare people, because lots of them think that is bad. Really? Debt will only be "bad" if people do not realized the high interest rates. But not only the high rates it also the way you spending your money. Some debts are bad but sadly essential. All automobile and car loans fall under the bad but essential debt category. The value of a vehicle depreciates the moment it hits the road. Also, it costs money to run and maintain it. Fuel, car servicing, road tax and car insurance are just some of the things that a car owner has to pay for regularly.

Some good debt that you may know :
  1. Loans for investment shares. shares are income-producing assets. However, loans for  shares should only be taken out if bad debts have been paid off. Other things to consider include the possibility of rising interest rates and falling prices of property and shares.
  2. Student loans. Student loans are considered good debts because they help finance young people’s education. A good education is a wise investment as it often guarantees better jobs with higher paychecks.
  3. Home mortgages and property investment. Home loans and mortgages are good debts as well. Homes are assets that increase considerably over time. Very often, a house bought today has the potential to double or triple its value in the next 20 to 30 years, depending on the location.
  4. Business loans. Business loans can be used to start a business or expand an already established business. If the business is run successfully, the loan will eventually help increase profitability and improve services and products.
The point is you know how crusial for you to make good debts instead of bad debts

JP Morgan Mortgage Report


JPMorgan Chase reported $4.4 billion in net income in the third quarter of 2010, or $1.01 per share, but expects mortgage delinquencies and losses to remain at high levels over the next several quarters.

Net income for the bank increased 23% from the $3.6 billion earned in the third quarter of 2009, but was down 6.7% from $4.7 billion in the previous quarter.

JPMorgan Chase originated $40.9 billion in mortgage loans, up 10% from a year ago and a 27% increase from the previous quarter. Its third-party mortgage servicing portfolio reached $1 trillion, declining 8% from a year ago and 4% from the previous quarter.

The bank earned $207 million from its mortgage banking sector, a 50% decrease from the third quarter of 2009.

Jaime Dimon, CEO of JPMorgan Chase, said losses from its mortgage division will not see much improvement in the months ahead and could even worsen.

"Our mortgage delinquency trends remained relatively flat compared with the prior quarter, and we expect mortgage credit losses to remain at these high levels for the next several quarters," Dimon said. "If economic conditions worsen, mortgage credit losses could trend higher."

source : housingwire

AP : Mortgage Rates Fell to The Lowest Level


NEW YORK — Rates on 30-year mortgages fell to the lowest level in decades for the ninth time in 12 weeks, pushed down by traders anticipating a move by the Federal Reserve to pump more money into the economy.The average rate for 30-year fixed loans dropped to 4.27 percent, mortgage buyer Freddie Mac said Thursday. That’s the lowest on records dating back to 1971, and down from 4.32 percent the previous week.The average rate on 15-year fixed loans, a popular choice for refinancing, dropped to 3.72 percent from 3.75 percent. That was lowest on records dating back to 1991.Rates have mostly fallen since spring as investors shifted money into the safety of Treasury bonds, lowering their yield. Mortgage rates tend to track those yields.The 30-year rate was 5.08 percent at the beginning of April, while the 15-year rate was 4.39 percent.In recent weeks, Treasury yields have dropped as investors predict that the Federal Reserve will soon increase its Treasury purchases to help boost the economy. That has pushed down rates.The yield on the closely watched 10-year bond reached its lowest point this year at 2.39 percent Wednesday following a surprisingly weak employment report.However, historically low rates haven’t helped the struggling housing market, which recorded its worst summer in more than a decade.Applications for mortgages to buy homes rose last week to the highest level since May, according to the Mortgage Bankers Association on Wednesday. However, that level is almost 32 percent below the level at the end of April, when homebuyer tax credits expired.Also, much of the most recent surge was led by borrowers seeking a government loan before the requirements were tightened. The new standards, including higher credit scores and down payments, went into effect this week.Sales this fall are not expected to improve that much. Job concerns have kept many people from buying homes. Tighter credit standards have also dissuaded many would-be buyers from purchasing. Experts also expect the worst-hit cities to face more foreclosures and other distressed sales.To calculate average mortgage rates, Freddie Mac collects rates from lenders around the country on Monday through Wednesday of each week. Rates often fluctuate significantly, even within a given day.Rates on five-year adjustable-rate mortgages averaged 3.47 percent, down from 3.52 percent a week earlier. Rates on one-year adjustable-rate mortgages fell to an average of 3.40 percent from 3.48 percent.The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount. The nationwide fee for loans in Freddie Mac’s survey averaged 0.8 a point for 30-year mortgages. It averaged 0.7 of a point for 15-year and 1-year mortgages and 0.6 of a point for 5-year mortgages.By Janna Herron, AP Business Writer[...]

Mortgage Rates Have Fallen


Loan pricing improved again today. Investors are anticipating that the central bank will move to jolt the economy with another round of stimulus.  As a result, mortgage rates on the 30-year fixed rate mortgage fell to the lowest level in decades.This is the first time that par 30-year fixed mortgage rates have been offered on a broad spectrum below 4.00%.30 Year Fixed Mortgage RatesPar 30 year fixed mortgage rates have fallen into the 4.00% to 4.375% range for well-qualified consumers. More lenders than ever are however willing to offer mortgage rates as low as 3.75% as long as the borrower is willing to pay points. The best par 15 year mortgage rates are in a range between 3.375% and 3.500%. 5 year ARMs are being quoted around 3.00%.  Mortgage Rate Disclaimer: Loan originators will only be able to offer these rates to borrowers who have perfect credit profiles and enough equity in their home to qualify for a refinance. If the terms of your loan trigger any risk-based loan level pricing adjustments (LLPAs), your rate quote will be higher. If you do not fall into the "perfect borrower" category, make sure you ask your loan originator for an explanation of the characteristics that make your loan a risky investment.Ahead of The Employment Situation Report, mortgage rates have rallied for five straight days. These improvements have been a result of investors anticipating the announcement of another Federal Reserve Quantitative Easing program sometime before January. Many market participants believe this program will be highly supportive of a low mortgage rate environment and possibly lead borrowing costs even lower than they are right now.  This assumption is contingent on the notion that new economic data will continue to reflect a slower than expected recovery. This makes the Employment Situation Report, which is normally the most influential economic release of the month, even more influential tomorrow.In terms of the market's expected reaction ...if the data is better than forecast, we should expect to see a knee jerk selloff in the bond market, which would push closing costs higher but probably wouldn't force lenders to stop offering quotes below 4.25%. If the data is worse than expected, bond yields will move lower and consumer borrowing costs would improve a few more bps...the caveat to those improvements: lenders would be slow to pass along cheaper costs. It is very unlikely that the Employment Situation Report will be so strong that it leads mortgages rates on a long term losing streak. As rates continue to hover at their historic lows, it is more important than ever to talk to a Home Loan Expert about your ability to refinance.  If your current mortgage rate is over 4.5% you could benefit from one of the best times in history to refinance your mortgage.  The most important thing to remember is: Never assume that you cannot refinance your mortgage.  Homeowners may be questioning their ability to refinance due to home values or other factors, but only a Home Loan Expert can help you determine whether or not you can refinance.  You’ll be amazed by how low your monthly payment could Adam Quinones and Amber Hunt[...]

States to Probe Mortgage Mess


As many as 40 state attorneys general in the United States are expected to announce an investigation into the mortgage servicing industry on Wednesday, the Wall Street Journal said.The move comes amid recent allegations that mortgage-servicers, which include units of major banks such as Bank of America Corp., submitted fraudulent documents in thousands of foreclosure proceedings nationwide.The investigation may help pressure financial institutions to rewrite large numbers of troubled loans, according to the report.The banks say the document problems are technical—largely the result of papers approved by so-called robo-signers with little review—and don't reflect substantive problems with foreclosures. Still, they have drawn criticism from consumer advocates and state and federal lawmakers.It comes amid recent allegations that mortgage servicers submitted fraudulent documents in thousands of foreclosure proceedings nationwide.Companies are scrambling to defend, and where needed, improve their foreclosure procedures in the face of anger among homeowners and regulators.The issue came to the forefront last month when GMAC Mortgage revealed that officials had signed thousands of affidavits supporting such proceedings without knowing their contents.source :[...]

A Controversy of Obama Mortgage Plan


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WASHINGTON (AP) - Nearly half of the 1.3 million homeowners who enrolled in the Obama administration's flagship mortgage-relief program have fallen out.The program is intended to help those at risk of foreclosure by lowering their monthly mortgage payments. Friday's report from the Treasury Department suggests the $75 billion government effort is failing to slow the tide of foreclosures in the United States, economists say.More than 2.3 million homes have been repossessed by lenders since the recession began in December 2007, according to foreclosure listing service RealtyTrac Inc. Economists expect the number of foreclosures to grow well into next year."The government program as currently structured is petering out. It is taking in fewer homeowners, more are dropping out and fewer people are ending up in permanent modifications," said Mark Zandi, chief economist at Moody's Analytics.Besides forcing people from their homes, foreclosures and distressed home sales have pushed down on home values and crippled the broader housing industry. They have made it difficult for homebuilders to compete with the depressed prices and discouraged potential sellers from putting their homes on the market.Approximately 630,000 people who had tried to get their monthly mortgage payments lowered through the government program have been cut loose through July, according to the Treasury report. That's about 48 percent of the those who had enrolled since March 2009. And it is up from more than 40 percent through June.Another 421,804, or roughly 32 percent of those who started the program, have received permanent loan modifications and are making their payments on time.RealtyTrac reported that the number of U.S. homes lost to foreclosure surged in July to 92,858 properties, up 9 percent from June. The pace of repossessions has been increasing and the nation is now on track to having more than 1 million homes lost to foreclosure by the end of the year. That would eclipse the more than 900,000 homes repossessed in 2009, the firm says.Lenders have historically taken over about 100,000 homes a year, according to RealtyTrac.Zandi said the government effort will likely end up helping only about 500,000 homeowners lower their monthly payments on a permanent basis. That's a small percentage of the number of people who have already lost their homes to foreclosure or distressed sales like short sales - when lenders let homeowners sell for less than they owe on their mortgages.Zandi predicts another 1.5 million foreclosures or short sales in 2011."We still have a lot more foreclosures to come and further home price declines," Zandi said. He said home prices, which have already fallen 30 percent since the peak of the housing boom, would drop by another 5 percent by next spring.Many borrowers have complained that the government program is a bureaucratic nightmare. They say banks often lose their documents and then claim borrowers did not send back the necessary paperwork.The banking industry said borrowers weren't sending back their paperwork. They also have accused the Obama administration of initially pressuring them to sign up borrowers without insisting first on proof of their income. When banks later moved to collect the information, many troubled homeowners were disqualified or dropped out.Obama officials dispute that they pressured banks. They have defended the program, saying lenders are making more significant cuts to borrowers' monthly payments than before the program was launched. And some of the largest mortgage companies in the program have offered alternative programs to those who fell out.Homeowners who qualify can receive an interest rate as low as 2 percent for five years and a longer repayme[...]

Make Money From Your Products or Company


Dear website owner,

When you plan a launch of a new website for your company, maybe you are asking yourself just what the real impact of your existing website is. Unfortunately website owners do not often get voluntary feedback from the many users who do not like the offer or the website, and simply move on.

Potential clients who are disturbed by trifles during the ordering process are often unaware of exactly why. For you, the entrepreneur, the big questions remain: why did the potential client visit your website and why did they accept or not accept your offer?
[ To Learn More Click here or Here ]

Alpha Market Research, Inc. starts exactly at this point: we make your website available for thousands of AMR website testers, assigned in groups of age and interest - this way we get detailed feedback with an honest evaluation of your website.

All this is much more affordable than you might think and due to your increase in sales, based on the improvements suggested from the website testers, the cost not only amortizes in a very short timeframe, you will also have a considerable rise in profits.

This video will show you how easy your business can benefit from our AMR Success Strategy

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Mortgage Refinancing - Counting the Costs


By: Mike HamelMortgage refinancing means paying off your existing mortgage with a new loan, using the same property as collateral. The amount you'll save by refinancing will vary depending upon current interest rates, refinancing costs and tax consequences. Mortgage refinancing makes sense if Interest rates have dropped more than two points since you got your original mortgage, or if you want to change from an adjustable-rate to a fixed-rate loan to avoid future interest hikes.As to the costs of mortgage refinancing; expect to pay between three and six percent of the mortgage, plus any prepayment penalties you might incur by paying off the existing loan. Below are some of the fees and charges you are most likely to encounter. Costs vary widely from state to state and loan to loan. These numbers are average estimates only.Application Fee ($75 – $300): This charge covers the initial costs of processing your mortgage refinancing request and checking your credit report. Bad credit will result in a higher interest rate.Appraisal Fee ($150 – $400): This fee pays for an appraisal which is a supportable and defensible estimate of the current market value of the property.Attorney's Review Fees ($150 – $300): The lender will usually charge you for fees paid to the lawyer or company that conducts the mortgage refinancing closing. Settlements are conducted by lending institutions, title insurance companies, escrow companies, real estate brokers and attorneys for the buyer and seller. You may want to retain your own attorney to represent you at all stages of the mortgage refinancing transaction.Loan Origination Fees (Usually 1% of loan): The origination fee is charged for the lender's work in evaluating and preparing your mortgage refinancing. Points (1% of loan): Points are prepaid costs imposed to increase the lender's yield on the loan. Paying points can lower the interest rate, which will lower the monthly payments. Some lenders will roll the points into the loan. The downside is that the borrower will be paying interest on these fees over the life of the loan.Private Mortgage Insurance (PMI) Usually 0.5% to 1.0% of loan): PMI is required when the amount of the mortgage is greater than 80% of the home's appraised value. This insurance protects the lender against loss if the borrower defaults on the loan.Title Search and Title Insurance ($450 – $600): These cover the costs of examining the public record to confirm ownership of the real estate, and the costs of a policy insuring the policy-holder for any loss caused by discrepancies in the title. Be sure to ask the company carrying the present policy if it can re-issue your policy at a re-issue rate. This could save you up to 70% of what a new policy would cost.FREE Refinancing Quote Applying for refinancing is easier than getting a first mortgage. Much of the process can be done online. You can get a free, no-obligation quote from a leading mortgage provider at Easy Mortgage Refinancing.Many homeowners get their mortgages, make their payments and don't think about refinancing. They wind up paying more than they have to for their homes. Don't make the same mistake.About the AuthorMike Hamel is the author of three business books and several articles about mortgage financing. His material is featured on sites like Bad Credit Mortgage Refinancing Now.(ArticlesBase SC #54755)Article Source: - Mortgage Refinancing - Counting the Costs[...]

Mini Property Boom Is Over in England


By Myra Butterworth

The Royal Institution of Chartered Surveyors said “increased uncertainty” about the economic outlook was making home buyers more cautious.

This reduced demand is combined with an increase in the supply of properties following the abolition of Home Information Packs. It is a reversal of the fortunes of the housing market which saw prices rise sharply in many areas during the past year due to a lack of suitable properties.

Jeremy Dell, a RICS member based in Worcestershire, said: “For me, the market is the worst it’s ever been. The Government’s determination to balance the books has undermined confidence.”

And David Sherwood, a RICS member based in Essex, said: “There are double dip worries. And there is a lack of funding but overall a lack of confidence is having a negative impact on the residential market.”

RICS said eight per cent more estate agents reported a fall rather than a rise in house prices in July, the lowest reading in more than a year. It is in sharp contrast to last month when 8 per cent more surveyors reporting rising rather than falling prices.

At the same time the number of new sellers increased with 33 per cent more estate agents seeing a rise rather than a fall in properties to their books, up 28 per cent from June and the highest level since before the beginning of the credit crisis in May 2007.

Ian Perry, a spokesman for RICS said: “The fall in the RICS house price is a reflection of both the increase in supply following the scrapping of HIPS and the more cautious stance from buyers.

“Significantly, the forward looking price expectations numbers suggest that this softer trend will continue through the second half of the year.”

Melanie Bien, director of mortgage brokers Private Finance, said: "Concerns about the economy and future job prospects are causing an increasing number of buyers to put off any house purchase until there is more certainty. Most people are reluctant to commit to something as expensive as a property purchase when you they are worried about losing their jobs or interest rates rising."

A separate report warned the housing market is the toughest for first time buyers in decades.

They will borrow more money and raise a larger deposit than at any other point in the past quarter of a century, according to Nationwide.

Britain’s largest building society said first-time buyers paid £26,422 for a home 25 years ago and put down a deposit of £1,321. It compares with a deposit of £35,614 towards the £142,457 cost of a home today.

Save Money By Refinancing Home Loan in Australia


The majority of Australians refinancing their home loans will see their interest rates drop upon doing so, a recent Mortgage Choice survey has found. The Mortgage Choice 2010 Refinancers Survey, conducted by Australian mortgage broker Mortgage Choice, found that 68 percent of home loan refinanciers saw their interest rates drop. Of this percentage, 23 percent were now saving more than $300 per month while 88 percent were saving more than $50 per month. The survey also found that the main motivation for refinancing was to switch to a ‘cheaper’ loan, with 24 percent of respondents using this reason, followed by the need to consolidate debts, prompting 11 percent to refinance.

Given the current economic climate, it is no surprise that so many Australians are refinancing their home loans, say Mortgage Choice spokesperson Kristy Sheppard.

“Contributing any extra savings into a loan each month can have a big impact in the long run. Based on a loan of $300,000 at 7 percent over 30 years, if a borrower rounded the monthly repayments of $1,996 up to $2,050, the loan would be repaid approximately one year and eight months earlier, saving over $25,000 in interest,” Ms Sheppard explained.

The survey also revealed that almost half of the refinancers did not pay exit fees. However, 22 percent paid up to $500, 16 percent between $500 and $1,000, 11 percent between $1,000 and $5,000, and 5 percent incurred over $5,000.

The survey shows that exit fees play an important role in when and how Australians decided to refinance their home loans, says Ms Sheppard.

“It is interesting to hear that after respondents researched their options, 26 percent delayed the refinance due to charges they would have incurred by doing so earlier. They weighed up the cost versus benefit of refinancing, which is what any savvy borrower would do before committing to a large financial decision,” said Ms Sheppard.

Maximizing Your Social Security


It's official: High unemployment and a resulting decline in payroll-tax collections have taken a toll on the Social Security program. Benefits will exceed revenues for the first time in 2010 -- six years ahead of previous projections -- according to the Social Security Trustees' 2010 report released Thursday. But the nation's vital retirement program is expected to slip back into the black -- at least temporarily -- when the economy recovers, before posting increasingly larger deficits as more baby-boomers reach retirement age.There will still be plenty of reserve funds to continue paying full benefits for nearly 30 years. But without reforms, the trust fund is projected to run dry around 2037, when tax revenues will be sufficient to pay only about three-fourths of promised benefits. "The sooner action is taken, the more options will be available and the fairer reforms will be to our children and grandchildren," Treasury Secretary Timothy Geithner said in response to the trustees' report. Reform proposals include raising the retirement age for full benefits to 70, changing the formula for calculating annual inflation adjustments of benefits, and lifting the cap on the amount of wages -- currently $106,800 -- subject to Social Security taxes.The idea of guaranteed income for life that keeps pace with inflation holds fresh appeal in an era of disappearing pensions and erratic stock-market returns. There's also a growing awareness of the value of working longer and waiting to collect Social Security benefits until normal retirement age or later, when they are worth more. But over the past few years, savvy Kiplinger's readers have also learned that there are a few clever -- and perfectly legal -- little-known strategies to time the collection of your retirement benefits that can immediately boost your household income by thousands of dollars a year and provide larger benefits later for your spouse or minor children when you die. Married couples and parents of minor children who wait until normal retirement age to collect benefits can employ some of these strategies to boost their overall income.Strategy 1 : File and SuspendYou can boost household income immediately and provide for a larger survivor benefit later by using this "file and suspend" Strategy: File for your retirement benefits so your spouse or dependent children can collect their benefits based on your earnings record, then immediately suspend your own benefits and delay claiming them until they are worth more at an older age. Your benefits will increase by an additional 8% for each year you delay collecting beyond your normal retirement age, up until age 70.The Strategy works best if one spouse has substantially higher lifetime earnings than the other. Older workers, whether married or single, who have dependent minor children can also take advantage of it. That's exactly what Lucia Cruz, a trust-company employee from Hollywood, Fla., plans to do when she turns 66 next year.Cruz, who describes herself as "happily divorced" for the past 30 years, adopted twins Patricia and Alicia in 2002. Each of the girls, now 11, will be entitled to a monthly benefit worth up to half of Cruz's when she starts to collect Social Security. But she wants to keep working and delay collecting her own benefits. If Cruz uses the file-and-suspend Strategy, each of her daughters will receive about $800 per month until they turn 18. And by waiting until 70 to collect her own benefits, Cruz will receive approximately $2,250 per month instead of the $1,640 she would get if she were to begin claiming benefits[...]

Education is The Key For Economic Reform


President Obama say in a speech that USA economics reform is the education to minimize the gap of black and white, rich and poor.
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Credit Cards For College Students


With the start of another school year fast approaching, now is the time for college students to decide how they will manage their money. The available options generally fall into one of three categories: credit cards, prepaid cards, or bank debit cards. Each has its own set of advantages and disadvantages. And for some students, a combination of two options may be best.1. Student Credit Cards Student credit cards have come under attack recently by consumer advocacy groups and the government alike. The criticism revolves around the growing levels of debt students are accumulating on credit cards. A recent study by Sallie Mae, for example, found that 84 percent of college students have at least one credit card with an average balance of $3,171. In addition, more and more students are charging direct educational expenses to credit cards, not just living expenses.For students who use credit cards responsibly, however, they offer several advantages. For example, credit cards can be used in emergency situations and can help young adults build credit. Many student cards also come with reasonable interest rates, cash back and other rewards, and even balance transfer offers.Pros:    * Great for emergencies    * Can help build credit    * Can earn cash back and other rewards    * Many no-fee offers availableCons:    * Interest rates can rise with late payments or defaults    * May require a co-signer    * Can hurt credit history if paid late, maxed out, or not paid at all    * May lead to significant debt2. Prepaid Credit CardPrepaid credit cards are a hybrid between bank debit cards and traditional credit cards. Like a bank debit card, you can only spend what you have already loaded onto the card. Unlike a debit card, however, a prepaid credit card is not linked to a checking account. And like a credit card, prepaid cards can be used just about anywhere a credit card is accepted. Parents can easily transfer money from their bank accountto a prepaid card. And some cards let parents monitor how money is spent using the card. If this is the option you choose, the key is to find prepaid credit cards with no fees or at least very low fees.Pros:    * Can be used anywhere credit cards are accepted, without the risk of going into debt    * Many no fee and low fee options available    * Easy for parents to load with a bank transfer    * Accepts direct deposit for students who work    * No late payment or overdraft feesCons:    * Does not build credit    * Generally, prepaid cards do not offer cash back or other rewards    * Can be used for emergencies, but only if cash is already loaded onto the card3.  Debit CardA checking account with a linked debit card is the traditional way to handle finances for college students. Because debit cardstoday generally are part of the Visa or MasterCard debit networks, they can be used just about anywhere that accepts credit cards. And there are many no fee checking account options, some of which even offer a cash back debit card. As with any checking account, however, there are some potential pitfalls. Bounced checks and overdrawn accounts will generate penalty fees. And some banks charge fees depending on the balance maintained in the account. Finally, ATM fees can rack up if you use ATMs not owned by your bank.Pros: &nb[...]

Invest in European Stocks Market


Much has been made of the fiscal difficulties that some European Union countries, most notably Greece, are experiencing. Less has been said about what opportunities may exist for investors interested in the countries in the EU. Dean Tenerelli, manager of the T. Rowe Price European Stock fund, says that there are many cheap opportunities in Europe. As a whole, he believes Europe is inviting for investors who are willing to look past some of the macroeconomic problems there. U.S. News caught up with Tenerelli to get his outlook for the region. Excerpts:What opportunities do you see in Europe?The first thing is that the market is cheap. ... You have to go back to the '90's to see these [price-to-earnings] levels. The entire general market is very cheap. In general, Europe is benefiting from trends that other markets are seeing as well. Emerging markets continue to be strong, so European countries selling into emerging markets are getting a benefit from that. The U.S. is starting to recover, so European countries selling into the U.S. are seeing a benefit. The euro is weak. That helps exporters a bit. The general economy in Germany and northern Europe is stable-ish and will grow slightly this year, while southern Europe will have more of a problem, but is bouncing along the bottom so it's not worsening. As the economy normalizes, and as the growth starts to come back, I think there are good opportunities at the stock level to take advantage of the cheap valuations.What kind of companies do you generally look for?I generally invest in companies which have a high return on capital that are profitable businesses with well-defended business models that operate in consolidated markets where they have pricing power and give less negative surprises.How does this investing climate compare with ones in the past?It is [cheap], but that doesn't come without its unknowns. The cheap comes with a caveat, which is there is great unknown on how quickly the economy will recover here. ... The austerity measures will hit in 2011. Most will not hit in 2010, so we haven't seen it yet. The estimates that I've seen is between 3/4 to 1 percent of GDP being shaved off as a general rule, and that changes by county as well. There are countries that are more immune to that. I was in Germany a couple of weeks ago, and Germany feels quite OK. The good thing about Europe is that the consumer doesn't have a lot of debt--when I talk about Europe as a whole, and certainly in Germany they don't. The consumer spending is OK. Even if the austerity will hit through higher taxes or higher VAT rates, in general, the consumers have cash.Your fund have a fairly large weighting in financial companies. Did last week's stress tests make you more confident about the strength of European banks?The stress tests were neutral to my confidence. For the stress tests, they were somewhat tough on GDP declines, but I think they could have done more on including more things under the stressing of the sovereign debt. So they stressed the sovereign debt, but there's a good portion of the sovereign debt that didn't take markdowns on the stress tests. To sum it up, the stress tests were sort of neutral to what I thought of the banks. One thing it did do is most of the banks provided increased disclosure on the sovereign bonds that they're holding, which is key. So I think the information helps.What about other developments?Now, what's happened today is there has been a cloud hanging over the banking sector, which is how [...]

New Mortgage Low Rates


NEW YORK – Mortgage rates are the most affordable in decades for those who can qualify for a loan. For many, the opportunity to buy a home or refinance at this time is lost because of the tough economy and tight credit standards. But those who have secure jobs, superior credit and strong finances could do even better than the 4.54 average rate that Freddie Mac reported Thursday, according to experts. The latest rate is the lowest for a 30-year fixed loan since Freddie began tracking rates in 1971. It also marks the fifth time in six weeks that the mortgage company has reported hitting a new average low. Still, it's possible to get an even lower rate if a borrower contributes more than 20 percent to the downpayment or has impeccable credit. "Scores matter," said Ritch Workman, co-owner of Workman Mortgage in Melbourne, Fla. He can offer a rate of 3.375 percent on a $200,000 Freddie Mac loan. The caveat: The borrower must put down 20 percent, have a credit score of 800 and pay $1,400 in add-on fees. Susquehanna Bank, which has branches in Pennsylvania, New Jersey, Maryland and West Virginia, is advertising a similar loan. But the credit score requirement is 720 and the add-on fees total $750. Sometimes the best rates are offered by community banks or credit unions. They keep mortgages on their books instead of selling them to investors, said Greg McBride, a senior financial analyst at Other times, bigger banks or smaller mortgage bankers have the best deals. Keep in mind that rates fluctuate significantly, even within a day, like airfares on a travel site. And the key to finding the best rate is to shop around online and in person. Either way, borrowers are getting good deals. The last time home loan rates were lower was during the 1950s, when most mortgages lasted just 20 or 25 years. The rate on 15-year fixed loans, a popular choice for refinancing, also are the lowest on records dating back to 1991. That rate fell to 4 percent from 4.03 percent last week. Mortgage rates have been falling since spring. Yields on U.S. Treasury bonds have dropped as jittery investors seek safer investments. Rates tend to track the yields on Treasurys. Low rates helped spark a little activity in the weak housing market. Applications to purchase homes rose 2 percent last week from the previous week, the Mortgage Bankers Association said Wednesday. Still, the housing market has been struggling and overall applications for loans were down last week as fewer people applied to refinance. High unemployment, slow job growth and tight credit have made it difficult for many to purchase homes. Home sales got a boost this spring when the government offered homebuying tax credits, but activity has fizzled since those expired in April. Sales of previously occupied homes fell 5.1 percent in June. New home sales jumped last month, but it was the second-weakest month on record and it came after sales tumbled in May. Refinance activity has increased over the last month as homeowners seek more affordable monthly payments. But many don't qualify for a loan or don't have the cash to pay for closing costs. And rates have been low for so long that many have already refinanced. [...]

MetLife Sell More Equity


NEW YORK (Reuters) – MetLife Inc  (MET.N) said it plans to sell more than $3 billion of stock to help pay for its acquisition of the foreign life insurance business of American International Group, (AIG.N) or about 50 percent more than it originally expected.

The company did not comment on why it was boosting its issuance plan. When MetLife announced that it was buying American Life Insurance Co from AIG in March, it said that it was paying AIG $8.7 billion of equity and $6.8 billion of cash.

It planned to generate the cash from selling $3.1 billion of debt and $2 billion of equity, with the rest coming from cash on hand.

The planned equity issuance has now risen to 75 million shares, or more than $3 billion based on Friday's closing price.

Because of the higher share issuance, MetLife Inc (MET.N) lowered its estimate of how much of a per-share boost it will get from acquiring Alico.

MetLife said it now sees operating earnings per share for the year rising 40 cents to 45 cents. The company had previously said it expected to realize a 45 to 55 cent-per-share boost to its 2011 profit.

Analysts expect MetLife to report $5.35 per share for 2011, according to Reuters Estimates.

MetLife said it still plans to sell about $3 billion in senior debt to help pay for Alico.

Last week, MetLife posted second-quarter operating earnings, excluding investment gains and losses, of $1.02 billion, or $1.23 a share, beating analysts' average forecast of $1.00 a share, according to Reuters Estimates.

MetLife also said the Alico purchase will enable it to boost its 2011 year-end operating return on equity by about 1 percentage point.

It said operating earnings per share does not include transition and other one-time expenses estimated at 12 cents per share.

MetLife first started eyeing Alico, which sells life, accident and health insurance as well as retirement and wealth management products in 55 countries, in the months before AIG nearly collapsed in September 2008.

MetLife will get a special boost in Japan, the world's second-largest life insurance market, which accounts for as much as 70 percent of Alico's pretax operating income.

MetLife's shares rose $1 to $43.06 in morning trading on Monday, as the broader market rallied.

(Reporting by Christopher Kaufman and Dan Wilchins, editing by Maureen Bavdek, Dave Zimmerman)

Go Get Your Credit Card


Credit cards indeed have become one of most indispensable tools in managing finances nowadays. Aside from being an effective way of obtaining credit, credit cards also make it easier for people to spend their money the right way. That is why making the crucial decision of choosing the right credit card should be paid more attention. One of the most popular brand names of credit cards in the market today is the Chase credit card. Like any other credit cards, Chase credit card is a brand name of credit card like MasterCard or Visa that is accepted worlwide. Aside from Chase credit card, the company also offers travel cards, Auto & Gas cards and student cards. Indeed, there are a number of ways in which Chase credit card can be advantageous and beneficial. Probably, the best feature Chase credit card has is the convenience it offers to busy and working people. A Chase credit card is also perfect for customers who are comfortable online. Aside from making it easy for the customer to maintain their account online, Chase credit card lets you check your balance and pay your bills through a secured web site.Having a chase credit card is quite convenient for the customer because it lets the credit card holder purchase goods easily and quickly whether they buy it directly, over the phone, or even on-line. Since Chase Credit cards are international cards, it is beneficial for people who travel a lot because they can use it all over the world wherever they see the Chase credit card logo. More and more people are choosing a Chase credit card because it offers a lot of credit card processing alternatives. Because Chase credit cards offers a wide array of processing options, many people appreciate it compared to other brands. One of the most enticing offer Chase credit cards has is that it is available in numerous places. Chade credit  cards also offer many deals and promotions like lower introductory APRs and waived membership fees that allow the holder to save more money. There are also many types of Chase credit card that offer reward programs for every purchase the holder makes. For instance, one type of Chase credit card allows you to earn travel miles for every dollar spent using your your Chase credit card. Another type of Chase credit card also allows you to earn reward points for every dollar you spend. These points will then enable you to purchase from a Chase credit card catalogue and they will have your chosen item shipped to right next to your doorstep! These reward options you get from using a Chase credit card are great because it will give your tangible gifts and rewards, free trips and wonderful merchandise without spending a single cent. A Chase credit card is handpicked by many people because its company makes sure that they give good customer service to its customers. Aside from getting all the great deals the card offers, having a Chase credit card can also give the holder instant access to customer support around 24/7. This will enable the customer to contact someone if his or her Chase credit card is stolen. Apart from this round-the-clock feature, Chase credit card also protects its customers from identity of thieves.When you apply for Chase credit card, some of the benefits include 0% intro APR on all purchases and balance transfers you make for up to six months. Chase credit card does not charge any annual fee so it will fit your budget and, a Chase credit c[...]