Many investors send direct mail without Clear Idea of their prospect The following are the kinds of questions you need to think about to define your target markets: What is the target market? Can you draw a picture of your target prospect? Can you define their emotion(s) at the time they receive your mail? How do you picture this person?
- Young or old?
- Emotionally attached to the house or completely detached?
- Are they living in a nice and cozy house or in a mobile home on the other site of the track?
- What are they doing when they receive your mail?
- Are they happy? Annoyed? Don't care?
Picture someone living in a mobile home in a rural area, not happy to receive your letter because of a property they lost a year ago. Now let's picture someone else who is in the mood of receiving your letter or your postcard. A homeowner who is pleased that finally someone is interested to solve their challenges. A motivated seller who receives your letter at just the right time. You see you are there for a purpose. To reach out and help the prospects. They NEED your help and you can find them through Direct Marketing. Well, I'd like you to carry the second image with you because you don't want to deal with the first one, the unmotivated suspect. The second recipient may turn out to be a motivated seller and make you money. The first will suck life out of you. I'd like you to understand that you cannot work with everybody. Let's all agree right now that if you receive a 1% response of your mailing you should be happy. If someone tells you that you'll be receiving 10% response may I suggest that he is not doing direct marketing? Don't even listen to him. Let's use absentee owners as an example of a direct mailing campaign system. I like to picture this absentee owner as an executive who has been transferred against his desire and put his property up for sale and it has been on the market for 6 months. But because of bad marketing on behalf of the real estate agent, the property is vacant and is not selling.
Your best target should be happy receiving your mail Do not deal with unmotivated sellers Find the motivated sellers and work with them. This absentee owner can be someone who inherited a property he has never seen in his life. Because he has a good tenant he never thought of selling the property. Now the tenants have moved out and left a mess behind. He needs someone to help
Copyright (c) 2007 Jacques Coquerel
Article Source: http://www.superfeature.com
วันพฤหัสบดีที่ 7 มิถุนายน พ.ศ. 2550
When Baby Boomers Need A New Home: The Changing Scene of Real Estate By: Cellini-9350
Now that the kids are out of the home, what are the parents planning for the future? Increasingly studies are finding they want to play.
According to a recent study by the Research Institute for Housing America, baby boomers are downsizing their possessions and living quarters, and are looking for a more convenient style of living. Baby boomers have an adventurous spirit, and are looking at living life to its fullest potential. They love to travel, and are increasingly preferring homes with low maintenance levels, that can easily be locked up and left for weeks, or even months on end.
What does all this mean for the real estate industry? There will be a big boom in the coming years for high quality, low maintenance homes.
Active adults are looking to trade-down their current homes. Trade down is not synonymous with smaller, lower quality homes. Instead, they are looking for homes that have more desirable features – homes with a first floor master bedroom, one-story homes, and condominiums. They demand the highest of luxury items, and will invest in many of the extras they couldn't afford while raising children. Things like media rooms, home offices, and home gyms will now be the norm.
According to the 50+ Housing Council with the National Association of Home Builders, over 10,000 people turn 50 every single day, and 50+ consumers account for more than one quarter of all new home sales. These figures can provide a lot of insight into the future of the real estate market.
Active adult communities will continue to grow
The active adult housing market recently totaled an estimated $51 billion, and those figures are expected to grow substantially.
As baby boomers become empty nesters, their needs and desires will change as well. Instead of having a large home with plenty of bedrooms and outside play space, they will demand more efficient use of their resources.
But while their housing needs may change, one thing won't change: the desire to stay involved in the community.
Active adult communities won't resemble the traditional retirement communities of the past.
In the past, retirement homes brought to mind the notion of assisted living, or living at a slower pace. No more. The new "retirement lifestyle" provides a wide variety of characteristics, and more than ever industry experts are finding they must redefine retirement living, and allow baby boomers to create their own distinct active communities.
Active adults are discovering they can live happier and healthier lives by choosing to live on their own terms. They are opting for urban areas that give them easy access to a variety of culturally diverse activities and options.
This generation prefers to move into a home that will allow them to age in place, or to continue living in their homes independently and comfortably, regardless of age or ability.
Yet they won't sacrifice comfortable living for today. Housing should provide for a comfortable living now, and provide easy changes to make homes accessible in the future as needs change.
Active adult communities will offer a wide range of activities and amenities.
Unlike past generations, baby boomers don’t want to get away from it all. Instead, they prefer to be in the heart of the community. There are looking for appropriate housing that allow them to be near cultural and spiritual hubs that keep them connected with their community, and to stay active and involved in lifelong learning and charitable opportunities.
This generation values independence and individualism, and prefers to find housing that matches their own lifestyle. Homes that cater to a baby boomer should be rich in customization, allowing a buyer to choose the most meaningful items to put into their home, and to choose activities in the community appropriate for their routines.
Adult communities are also offering more training and technology options than ever before. As more people are running businesses and staying in touch with family and friends around the world, technology centers are becoming increasingly important. Not just for adults to stay connected, but also to enrich their experiences, learn new skills, and offer media-rich capabilities.
Health and fitness are still at the top of the list for adult communities. Buyers want the normal amenities associated with retirement communities like golf, tennis and recreation centers; but also want natural, walking areas to walk and bike.
The most important characteristic with growing retirement communities is to maintain flexibility. Realize that not everyone will fit into one community. Focus on the best amenities for your lifestyle, and find a community that offers you the most value. And enjoy.
Article Source: http://www.superfeature.com
According to a recent study by the Research Institute for Housing America, baby boomers are downsizing their possessions and living quarters, and are looking for a more convenient style of living. Baby boomers have an adventurous spirit, and are looking at living life to its fullest potential. They love to travel, and are increasingly preferring homes with low maintenance levels, that can easily be locked up and left for weeks, or even months on end.
What does all this mean for the real estate industry? There will be a big boom in the coming years for high quality, low maintenance homes.
Active adults are looking to trade-down their current homes. Trade down is not synonymous with smaller, lower quality homes. Instead, they are looking for homes that have more desirable features – homes with a first floor master bedroom, one-story homes, and condominiums. They demand the highest of luxury items, and will invest in many of the extras they couldn't afford while raising children. Things like media rooms, home offices, and home gyms will now be the norm.
According to the 50+ Housing Council with the National Association of Home Builders, over 10,000 people turn 50 every single day, and 50+ consumers account for more than one quarter of all new home sales. These figures can provide a lot of insight into the future of the real estate market.
Active adult communities will continue to grow
The active adult housing market recently totaled an estimated $51 billion, and those figures are expected to grow substantially.
As baby boomers become empty nesters, their needs and desires will change as well. Instead of having a large home with plenty of bedrooms and outside play space, they will demand more efficient use of their resources.
But while their housing needs may change, one thing won't change: the desire to stay involved in the community.
Active adult communities won't resemble the traditional retirement communities of the past.
In the past, retirement homes brought to mind the notion of assisted living, or living at a slower pace. No more. The new "retirement lifestyle" provides a wide variety of characteristics, and more than ever industry experts are finding they must redefine retirement living, and allow baby boomers to create their own distinct active communities.
Active adults are discovering they can live happier and healthier lives by choosing to live on their own terms. They are opting for urban areas that give them easy access to a variety of culturally diverse activities and options.
This generation prefers to move into a home that will allow them to age in place, or to continue living in their homes independently and comfortably, regardless of age or ability.
Yet they won't sacrifice comfortable living for today. Housing should provide for a comfortable living now, and provide easy changes to make homes accessible in the future as needs change.
Active adult communities will offer a wide range of activities and amenities.
Unlike past generations, baby boomers don’t want to get away from it all. Instead, they prefer to be in the heart of the community. There are looking for appropriate housing that allow them to be near cultural and spiritual hubs that keep them connected with their community, and to stay active and involved in lifelong learning and charitable opportunities.
This generation values independence and individualism, and prefers to find housing that matches their own lifestyle. Homes that cater to a baby boomer should be rich in customization, allowing a buyer to choose the most meaningful items to put into their home, and to choose activities in the community appropriate for their routines.
Adult communities are also offering more training and technology options than ever before. As more people are running businesses and staying in touch with family and friends around the world, technology centers are becoming increasingly important. Not just for adults to stay connected, but also to enrich their experiences, learn new skills, and offer media-rich capabilities.
Health and fitness are still at the top of the list for adult communities. Buyers want the normal amenities associated with retirement communities like golf, tennis and recreation centers; but also want natural, walking areas to walk and bike.
The most important characteristic with growing retirement communities is to maintain flexibility. Realize that not everyone will fit into one community. Focus on the best amenities for your lifestyle, and find a community that offers you the most value. And enjoy.
Article Source: http://www.superfeature.com
What to think of Starting On line Businesses By: Jan Smit
There is a right formula whilst you endeavor establishing on line businesses and this commentary will examine anything you got to do to certify that establishing online businesses is a achievement for you.
The first thing that you must remember when creating on line businesses is that you must develop a formula. If you want various webpages, you will wish them to be run by means of similar manners or world wide web hosts therefore that the effort you do on 1 to improve overall performance would translate to equivalent improvements on other web pages. This will support you generate efficiencies and save time in the route. The key is to ensure that you have on line business techniques running as well as a certain habit that you go around doing topics. This can seem reserved nonetheless it comes down to two subjects: how efficient you are with your time and how a great deal of time you ought to spend on each try. Having application like Thunderbird to take care of your time will be really positive to you.
There are a lot of diverse ways to aid carry your enterprise running smoothly for in this paragraph, we will check out miscellanneous application that would support you cope with your advertising in a very arranged and persuasive manner. A excellent piece of programm that you can use is called Niche Portal Builder. This software can be used to support you develop web pages as well as newsletters and what you must do is simply present the programm your domain name, keywords you want to use, what your e-mail is, your pub adsense id, and a number of other facts. One more object of application that you can use is known as Blog Solution. This programm might aid you build blogs which is eminent if you have many assorted blogging websites that you post to daily. By doing this they may well post without human intervention to these blogs rapidly afterward without having to register to each account. You are even able to adjust the language because of their automatic language translation. These are two examples of assorted pieces of application that may facilitate you out. Numerous successful Internet programmers are able to maintain numerous web pages by by means of software to form efficiencies between their various web pages.
Optimistically this article on creating on line businesses will help you whilst turning out more than a few sites. There are innumerable different varieties of online businesses on the other hand innumerable of them come down to the same type of general types: ebay retail, retail websites, services webpages, and enterprise-to-enterprise web pages. You may work in varying types without problems nevertheless make certain to take what you realize from each diverse category and apply it in your different ventures.
Establishing on line businesses needs time and devotion from you however you must make certain that the time you are spending is well invested. Whilst you are coping with multiple businesses, you must be as efficient as doable to ensure that each business is well fostered. If you assign a lot of your time on one venture and that doesn't pay off as intended, this may possibly damage the other ventures as a result of miss out on and the lesser amount of time you are spending on them.
Article Source: http://www.superfeature.com
The first thing that you must remember when creating on line businesses is that you must develop a formula. If you want various webpages, you will wish them to be run by means of similar manners or world wide web hosts therefore that the effort you do on 1 to improve overall performance would translate to equivalent improvements on other web pages. This will support you generate efficiencies and save time in the route. The key is to ensure that you have on line business techniques running as well as a certain habit that you go around doing topics. This can seem reserved nonetheless it comes down to two subjects: how efficient you are with your time and how a great deal of time you ought to spend on each try. Having application like Thunderbird to take care of your time will be really positive to you.
There are a lot of diverse ways to aid carry your enterprise running smoothly for in this paragraph, we will check out miscellanneous application that would support you cope with your advertising in a very arranged and persuasive manner. A excellent piece of programm that you can use is called Niche Portal Builder. This software can be used to support you develop web pages as well as newsletters and what you must do is simply present the programm your domain name, keywords you want to use, what your e-mail is, your pub adsense id, and a number of other facts. One more object of application that you can use is known as Blog Solution. This programm might aid you build blogs which is eminent if you have many assorted blogging websites that you post to daily. By doing this they may well post without human intervention to these blogs rapidly afterward without having to register to each account. You are even able to adjust the language because of their automatic language translation. These are two examples of assorted pieces of application that may facilitate you out. Numerous successful Internet programmers are able to maintain numerous web pages by by means of software to form efficiencies between their various web pages.
Optimistically this article on creating on line businesses will help you whilst turning out more than a few sites. There are innumerable different varieties of online businesses on the other hand innumerable of them come down to the same type of general types: ebay retail, retail websites, services webpages, and enterprise-to-enterprise web pages. You may work in varying types without problems nevertheless make certain to take what you realize from each diverse category and apply it in your different ventures.
Establishing on line businesses needs time and devotion from you however you must make certain that the time you are spending is well invested. Whilst you are coping with multiple businesses, you must be as efficient as doable to ensure that each business is well fostered. If you assign a lot of your time on one venture and that doesn't pay off as intended, this may possibly damage the other ventures as a result of miss out on and the lesser amount of time you are spending on them.
Article Source: http://www.superfeature.com
What To Learn In A Finance Course By: Charley Huang
Thanks to the influx of technology and the Internet what once was only available to a privileged few is now available to a wide array of people from all walks of life. Thanks to online financial courses, students who once would have been unable to attend prestigious schools of finance or tertiary education colleges are now able to pursue the degrees in finance they desire.
Simply put, finance education and financial courses are available with the click of a mouse.
A finance course consists of studies relevant to global finances. Courses vary from one-time seminars, to certificate and diploma programs, to undergraduate and post-graduate degrees.
While “Finance” may seem to be a simple topic, it is actually a complex and diverse course of study. The basic area of study covers everything from finance theory to the application of statistical and mathematical principles. From the basics, students of finance would pursue specialized education in areas of banking, accounting, business management, and law.
The quantities of available finance courses are bountiful. These courses focus on areas like corporate finance, investments, banking, fixed income and financial management, financial engineering, derivatives, interest rates, risk management, personal finance, computer applications of financial management, international finances, financial institutions and banking, as well as insurance and risk management. Specialized financial courses are available to help analysts and advisors build additional skills in the areas of education finance and budgeting, health care finance, global finance and managerial finance.
College finance courses take the simple finance courses outlined above and provide more details, address more issues and give undergraduate and graduate students the advantage. These college finance courses cover aspects like in-depth corporate finance, monetary economics and its position in the global economy, business economics at microeconomic level, investment management, corporate valuation, international corporate finance, analysis and financing of real estate investment, international financial markets, international banking, urban fiscal policy, fixed income securities, behavioral finance, finance of buyouts and acquisitions, among many others.
Once an advanced degree of finance study is being pursued, a student will encounter the progressive courses of econometrics, principles of micro and macro economics, statistical practice, accounting, and international trade.
It's best to understand financial courses as much as possible so you can make an informed decision and take the best steps possible to reach your objective. Our time is our so precious and despite cell phones and other conveniences we seem to never have enough of it. See below for more information on finance course and other related information.
Article Source: http://www.superfeature.com
Simply put, finance education and financial courses are available with the click of a mouse.
A finance course consists of studies relevant to global finances. Courses vary from one-time seminars, to certificate and diploma programs, to undergraduate and post-graduate degrees.
While “Finance” may seem to be a simple topic, it is actually a complex and diverse course of study. The basic area of study covers everything from finance theory to the application of statistical and mathematical principles. From the basics, students of finance would pursue specialized education in areas of banking, accounting, business management, and law.
The quantities of available finance courses are bountiful. These courses focus on areas like corporate finance, investments, banking, fixed income and financial management, financial engineering, derivatives, interest rates, risk management, personal finance, computer applications of financial management, international finances, financial institutions and banking, as well as insurance and risk management. Specialized financial courses are available to help analysts and advisors build additional skills in the areas of education finance and budgeting, health care finance, global finance and managerial finance.
College finance courses take the simple finance courses outlined above and provide more details, address more issues and give undergraduate and graduate students the advantage. These college finance courses cover aspects like in-depth corporate finance, monetary economics and its position in the global economy, business economics at microeconomic level, investment management, corporate valuation, international corporate finance, analysis and financing of real estate investment, international financial markets, international banking, urban fiscal policy, fixed income securities, behavioral finance, finance of buyouts and acquisitions, among many others.
Once an advanced degree of finance study is being pursued, a student will encounter the progressive courses of econometrics, principles of micro and macro economics, statistical practice, accounting, and international trade.
It's best to understand financial courses as much as possible so you can make an informed decision and take the best steps possible to reach your objective. Our time is our so precious and despite cell phones and other conveniences we seem to never have enough of it. See below for more information on finance course and other related information.
Article Source: http://www.superfeature.com
What Kind Of Properties Are Real Estate Investors Looking For? By: Ralph Maupin
There are several categories of real estate available for an investor. The easiest for a beginning investor to understand and participate in is the single-family home. Why?
1. Homeownership in America is approaching 70%.
2. They are the highest demand type of property.
3. They sell quicker than other kinds of property.
4. Prospective purchasers have the widest range of financing programs available to them, making the property easier to purchase. If the property does not sell in a reasonable amount of time, it can be rented.
Ugly Properties:
Why should you buy the ugly duckling?
The best property to buy is an ugly one. Look for the property that has never been "updated" or improved or one that has been improved, in a very tacky way. Don't be deterred by the pet urine, feces, or mice droppings. Where some see damage and odor, you should see dollars and opportunity. Ugly ducklings are the properties that have the least competition, houses that can be fixed up by remodeling, not by rebuilding. Many people are scared about things like leaking roofs and broken windows. Be happy to see those things. They'll discourage most inexperienced investors from purchasing the property. In many areas, you will be competing for some deals with "do-it-yourself" homeowners.
They may outbid you simply because they figure they can buy a home for $50,000.00 that will be worth $70,000.00 when they're done fixing it up. It never occurs to them that they will spend $10,000.00 for materials and professional labor, one to two years working on it, and live in a construction zone the whole time. The oddest thing about it is that most people will sell the home when they're done, thinking they did great (although they really broke even) and start the process again.
Buy, flip and sell works best in a 90-120 day time frame, with professional contractors quickly completing decorating, repairs, and renovations.
Where do go to meet the like mind people to get trained in the investing business?
There are Real Estate Investor Association all over the US. Many of this assoications are non profit. They are usually refered to as a REIA. Investor groups are for purpose of investor education, networking, and training. They bring national and local real estate experts to their meetings. They have training on wide topics like: foreclosures, pre-foreclosures, land lording, rent to own, lease options, short sales, deed offs, credit, wholesaling, find, fix, and sell, private money, lines of credit, and accounting. These are just a few of the topics they speak on.
How do you find a Real estate investors association or groups in yourr area?
You can go on line to one one of major search engines. Type in the one of follow words with your local City name: REIA, Real Estate Investing Clubs, Real Estate Investment Association, REIAs, Real Estate Investing Classes, Real Estate Investing Groups, Landlord Club, Real Estate Mentoring Programs, Foreclosure Boot Camp, Real Estate Training Classes, Real Estate Seminars, Real Estate Schools, Real Estate Courses, Real Estate Investing Network, Real Estate Conventions, Real Estate Boot Camps, and Real Estate Forums. Using a search engine as search for topic like how to find a boot camp or class on foreclosures in the state or city you are in works great.
Copyright (c) 2007 Ralph Maupin
Article Source: http://www.superfeature.com
1. Homeownership in America is approaching 70%.
2. They are the highest demand type of property.
3. They sell quicker than other kinds of property.
4. Prospective purchasers have the widest range of financing programs available to them, making the property easier to purchase. If the property does not sell in a reasonable amount of time, it can be rented.
Ugly Properties:
Why should you buy the ugly duckling?
The best property to buy is an ugly one. Look for the property that has never been "updated" or improved or one that has been improved, in a very tacky way. Don't be deterred by the pet urine, feces, or mice droppings. Where some see damage and odor, you should see dollars and opportunity. Ugly ducklings are the properties that have the least competition, houses that can be fixed up by remodeling, not by rebuilding. Many people are scared about things like leaking roofs and broken windows. Be happy to see those things. They'll discourage most inexperienced investors from purchasing the property. In many areas, you will be competing for some deals with "do-it-yourself" homeowners.
They may outbid you simply because they figure they can buy a home for $50,000.00 that will be worth $70,000.00 when they're done fixing it up. It never occurs to them that they will spend $10,000.00 for materials and professional labor, one to two years working on it, and live in a construction zone the whole time. The oddest thing about it is that most people will sell the home when they're done, thinking they did great (although they really broke even) and start the process again.
Buy, flip and sell works best in a 90-120 day time frame, with professional contractors quickly completing decorating, repairs, and renovations.
Where do go to meet the like mind people to get trained in the investing business?
There are Real Estate Investor Association all over the US. Many of this assoications are non profit. They are usually refered to as a REIA. Investor groups are for purpose of investor education, networking, and training. They bring national and local real estate experts to their meetings. They have training on wide topics like: foreclosures, pre-foreclosures, land lording, rent to own, lease options, short sales, deed offs, credit, wholesaling, find, fix, and sell, private money, lines of credit, and accounting. These are just a few of the topics they speak on.
How do you find a Real estate investors association or groups in yourr area?
You can go on line to one one of major search engines. Type in the one of follow words with your local City name: REIA, Real Estate Investing Clubs, Real Estate Investment Association, REIAs, Real Estate Investing Classes, Real Estate Investing Groups, Landlord Club, Real Estate Mentoring Programs, Foreclosure Boot Camp, Real Estate Training Classes, Real Estate Seminars, Real Estate Schools, Real Estate Courses, Real Estate Investing Network, Real Estate Conventions, Real Estate Boot Camps, and Real Estate Forums. Using a search engine as search for topic like how to find a boot camp or class on foreclosures in the state or city you are in works great.
Copyright (c) 2007 Ralph Maupin
Article Source: http://www.superfeature.com
What is a Reverse Mortgage Loan? By: Brian Ankner
Reverse mortgages have increased in popularity in the past few years. Economist report that due to the increase in housing cost, the amount of money people are saving in their 401(k) and savings accounts have been decreasing.
Due to the recent boom in the real estate market more and more seniors are looking to cash in on their home equity. People are finding themselves equity rich and cash poor. It is not unusual to find people living in million dollar homes yet they are below or near poverty level in monthly income.
Forturnately reverse mortgages are available for this specific reason. Before you proceed with a reverse mortgage do your research and make sure it is exactly what you want to do.
The FHA and the Department of Housing and Urban Development have taken over the responsibility of administrating reverse mortgages.
One of their first changes, was to regulate and control the interest rates which lenders can charge for the reverse mortgages. All reverse mortgage lenders within the United States will have the exact same interest rates. When choosing a lender do not concern yourself with comparing interest rates.
Reverse mortgage interest rates are adjustable rates which are tied to very conservative indexes, usually the 1 year treasury bond rate or the LIBOR index. The rates very moderately and usually will not have much effect on your mortgage.
A reverse mortgage is still a home mortgage utilizing the equity in your home as collateral. It is totally different mortgage compared to the mortgage you had when you initially purchased your home. Here are a few facts about reverse mortgages.
The Bank Pays You Each Month: Yes, that's right, you will receive a monthly payment with a reverse mortgage. There are basically three options to receiving your payments. You can receive a one time lump sum, you can receive payments at amounts and times you request, and most common meathod is to receive a regular monthly payment.
You Still Live in Your Home: Most seniors do not want to change dwellings at this point in their lives, hence the main reason for a reverse mortgage. You will stay in your home while drawing monthly income against the equity. In fact it is a requirement that you retain this home as your principal residence. You can still have the lake home or the vacation home, you just need to maintain this residence as your primary home.
You Retain 100% Ownership Of Your Home: You will keep all the rights of ownership which you had prior to the reverse mortgage. This is still your home and you can do anything to it or with it that you normally would. It can be remodeled, sold, or will it to your children.
However, should you sell your home or die, you will have to pay back the bank the amount of payments you have received, plus interest, before the balance can be distributed to you or your surviving spouse or the estate.
Your Principal Amount Increases With Each Payment Received: This is still a mortgage and the amount you receive must be paid back. This is usually done when your heirs sell your home after you and your spouse no longer live there. After you pass away the monthly payments will stop, however the principal amount and the maturity date of the loan can not be determined until the actual day the loan is paid back.
You Can Never Owe More Than The Value of Your Home: If you choose a reverse mortgage backed by the Federal Programs, you can never borrow more than the value of your home. You will never be forced to liquidate other assets to repay the loan.
Summary
If you have equity in your home and you are beyond the age of 62, you can receive a reverse mortgage which will provide you the additional monthly income needed to supplement your retirement income. You will still own your home and continue to live there as you do now and your obligations to the lender will be satisfied by the equity in your home.
Copyright (c) 2007 Brian Ankner
Article Source: http://www.superfeature.com
Due to the recent boom in the real estate market more and more seniors are looking to cash in on their home equity. People are finding themselves equity rich and cash poor. It is not unusual to find people living in million dollar homes yet they are below or near poverty level in monthly income.
Forturnately reverse mortgages are available for this specific reason. Before you proceed with a reverse mortgage do your research and make sure it is exactly what you want to do.
The FHA and the Department of Housing and Urban Development have taken over the responsibility of administrating reverse mortgages.
One of their first changes, was to regulate and control the interest rates which lenders can charge for the reverse mortgages. All reverse mortgage lenders within the United States will have the exact same interest rates. When choosing a lender do not concern yourself with comparing interest rates.
Reverse mortgage interest rates are adjustable rates which are tied to very conservative indexes, usually the 1 year treasury bond rate or the LIBOR index. The rates very moderately and usually will not have much effect on your mortgage.
A reverse mortgage is still a home mortgage utilizing the equity in your home as collateral. It is totally different mortgage compared to the mortgage you had when you initially purchased your home. Here are a few facts about reverse mortgages.
The Bank Pays You Each Month: Yes, that's right, you will receive a monthly payment with a reverse mortgage. There are basically three options to receiving your payments. You can receive a one time lump sum, you can receive payments at amounts and times you request, and most common meathod is to receive a regular monthly payment.
You Still Live in Your Home: Most seniors do not want to change dwellings at this point in their lives, hence the main reason for a reverse mortgage. You will stay in your home while drawing monthly income against the equity. In fact it is a requirement that you retain this home as your principal residence. You can still have the lake home or the vacation home, you just need to maintain this residence as your primary home.
You Retain 100% Ownership Of Your Home: You will keep all the rights of ownership which you had prior to the reverse mortgage. This is still your home and you can do anything to it or with it that you normally would. It can be remodeled, sold, or will it to your children.
However, should you sell your home or die, you will have to pay back the bank the amount of payments you have received, plus interest, before the balance can be distributed to you or your surviving spouse or the estate.
Your Principal Amount Increases With Each Payment Received: This is still a mortgage and the amount you receive must be paid back. This is usually done when your heirs sell your home after you and your spouse no longer live there. After you pass away the monthly payments will stop, however the principal amount and the maturity date of the loan can not be determined until the actual day the loan is paid back.
You Can Never Owe More Than The Value of Your Home: If you choose a reverse mortgage backed by the Federal Programs, you can never borrow more than the value of your home. You will never be forced to liquidate other assets to repay the loan.
Summary
If you have equity in your home and you are beyond the age of 62, you can receive a reverse mortgage which will provide you the additional monthly income needed to supplement your retirement income. You will still own your home and continue to live there as you do now and your obligations to the lender will be satisfied by the equity in your home.
Copyright (c) 2007 Brian Ankner
Article Source: http://www.superfeature.com
Travel Reward Credit Cards: How To Travel For Free! By: Darlene Berkel
Do you have a credit card? If you do, then you know that some credit cards can be a hassle. There are great to have if you need to purchase something without carrying around loads of cash, but there is a downside: their high interest rates! This can be a "wealth robber" when you have to pay back the money you used at a sky-high interest rate.
Another propblem is that some credit cards can be hard to manage. You don't always know how much money you can spend, or more importantly, how much you owe. However, there do exist some cards that are much easier. A travel reward credit card for instance may be a good option worth considering. Travel rewards credit cards are indeed credit cards, but there is much more to it.
For one thing, you are actually going to get "rewarded" for the money that you spend using your travel reward credit card. In other words, you will be actually make the purchases that you made count for something. That sounds like a great option to me.
Easy To Use
It is quite simple. Using a travel reward credit card is a great way to make sure that you are getting rewarded for the money you spend. Here is how it works. If you have a credit card that is enrolled in a reward program each time you make a purchase with that card you are actually earning points. You can then use these points to travel. What does this mean? Simply this: that renting a car, going on a cruise, buying airline tickets, or staying in hotels is all going to earn you points on your travel reward credit card, points which you can then use for FREE travel in the future. You can rack up these points as you use your card, and then you will end up getting statement that tells you how many of the points that you have.
Once you have racked up enough points, you can start to use the points for things. Because it is a travel reward credit card you will find that most of the points can be used to earn free things like airline miles to travel more, or stays in hotels that are much cheaper or even free. if you are a student and you travel a lot, then a travel reward credit card is a great option for you. Because it acts as a regular credit card, you don't need to use it for only travel; you can use it as your credit card and pay for things whenever you need to pay for them. But, if you decide to use the card for travel, you will discover that the travel reward credit card is going to be very rewarding for you.
Getting The Card
It is always nice to get something for the money that you spend. Credit card companies make a lot of money off of people, so it is a good idea for you to pick your credit cards wisely. There are many cards that offer rewards, and even more programs similar to the travel reward credit card that are out there, so find them and make use of them. With all the options at your disposal, there just is no reason why you can't be getting rewarded for every purchase that you make. You want to be sure that you have correctly filled out the forms when you are applying for a travel reward credit card because this is a card that you don't want to be turned down for. Fill in the forms and give all of the information, and you will get the credit card like normal. The tricks is that once you have it, you can begin to use your travel reward credit card to earn points and actually can get something back for the money that you spend. This is a great way to make the money you spend count for something. You can buy the things that you want and need, and take the trips that you want to take, and you will find that you aren't wasting the money in other ways.
Article Source: http://www.superfeature.com
Another propblem is that some credit cards can be hard to manage. You don't always know how much money you can spend, or more importantly, how much you owe. However, there do exist some cards that are much easier. A travel reward credit card for instance may be a good option worth considering. Travel rewards credit cards are indeed credit cards, but there is much more to it.
For one thing, you are actually going to get "rewarded" for the money that you spend using your travel reward credit card. In other words, you will be actually make the purchases that you made count for something. That sounds like a great option to me.
Easy To Use
It is quite simple. Using a travel reward credit card is a great way to make sure that you are getting rewarded for the money you spend. Here is how it works. If you have a credit card that is enrolled in a reward program each time you make a purchase with that card you are actually earning points. You can then use these points to travel. What does this mean? Simply this: that renting a car, going on a cruise, buying airline tickets, or staying in hotels is all going to earn you points on your travel reward credit card, points which you can then use for FREE travel in the future. You can rack up these points as you use your card, and then you will end up getting statement that tells you how many of the points that you have.
Once you have racked up enough points, you can start to use the points for things. Because it is a travel reward credit card you will find that most of the points can be used to earn free things like airline miles to travel more, or stays in hotels that are much cheaper or even free. if you are a student and you travel a lot, then a travel reward credit card is a great option for you. Because it acts as a regular credit card, you don't need to use it for only travel; you can use it as your credit card and pay for things whenever you need to pay for them. But, if you decide to use the card for travel, you will discover that the travel reward credit card is going to be very rewarding for you.
Getting The Card
It is always nice to get something for the money that you spend. Credit card companies make a lot of money off of people, so it is a good idea for you to pick your credit cards wisely. There are many cards that offer rewards, and even more programs similar to the travel reward credit card that are out there, so find them and make use of them. With all the options at your disposal, there just is no reason why you can't be getting rewarded for every purchase that you make. You want to be sure that you have correctly filled out the forms when you are applying for a travel reward credit card because this is a card that you don't want to be turned down for. Fill in the forms and give all of the information, and you will get the credit card like normal. The tricks is that once you have it, you can begin to use your travel reward credit card to earn points and actually can get something back for the money that you spend. This is a great way to make the money you spend count for something. You can buy the things that you want and need, and take the trips that you want to take, and you will find that you aren't wasting the money in other ways.
Article Source: http://www.superfeature.com
Trader’s Daily Routine Checklist By: Larry Swing
Most traders go day to day trading on the fly, take a position when it "feels right", especially in the heat of the moment when prices are just moving without them. Not preparing for what lies ahead for the day, week or month can be a costly endeavor. Many don't come with a plan, much less a checklist to prepare for the day. Many professionals are preparing two to three hours even before the market opens. It only shows how serious they value their work and money.
No trading is complete without a routine to make good trading habits in preparation for the trades. No good trading results come from lack of preparation. Once a routine is carried out consistently, trading success will come consistently. A basic checklist below will get a new trader started. Modifications can be made accordingly to fit the trader's preferences (use of fundamental or technical analysis), trading style (day, swing, position) and markets (single or multiple markets).
Before market opens
1. Check the day's economic calendar for any scheduled reports and announcements for the day-- This part covers the fundamental analysis. He will be checking the expected numbers against reports that will be publish during the day, recalculating the numbers to find value. (This is typically for the trader whose major strategy is based on fundamentals).
2. Draw up analysis for changes in the fundamental news & reports (interest rate changes, jobless numbers, specific company earnings etc.) to reflect to current market conditions.
3. Check the chart for overnight price action-this is mainly for a trader who trades using technical analysis. Normally he will check to see if the prices have violated any support/resistance area or any numbers that he considers important enough to confirm or reject the current direction or market conditions. In forex, the most popular indicators and tools used are:
a. Fibonacci numbers
b. Floor pivots (daily, weekly, monthly)
c. Support/Resistance areas (daily, week, month)
d. High/Low/Open/Close
e. MACD, RSI, Momentum, Volume, or other indicators.
4. Write a trading plan – This step provides the trader to write out his plan for the day, how many trades, how much to risk or make, where he'll be taking the position and where he'll exit, and how large the position size he's going to take.
During market hours
1. During market hours, the trader has a few options at hand:
a. Set alarms to notify crucial levels to trade to change positions that need to be made. (This is for swing and daytraders)
b. Watch news channels (optional) such as CNBC or Bloomberg to make sure there are no sudden economic or political news around the world that may impact market movements such resignation of a president, or terrorist attack on oil field, etc. (This is for daytraders).
c. Monitor the charts and indicators continuously, trendlines, pivots, and redrawing Fibonacci levels. (This is for daytraders).
d. Take positions as dictated in the trading plan. If the setup had appeared during the trading session that was written in the trading plan, execute it accordingly.
After market hours
Trader's Daily Routine Checklist Who Have Signal-Service or Newsletter Subscriptions
1. Check/read newsletters from paid/unpaid subscriptions from signal service, news, analysis, etc. and compare them to trading plan. Analyze them accordingly to be sure these fit into the trading plan.
2. Strategy portfolio management and maintenance-recalculating and verify if the balances are correct and if any instrument has gone outside the percentage of the portfolio. If for example an instrument that was made 30% in gains, these gains must be settled: either by reducing the holdings or hedge with another instrument to ensure the gains made or reduce exposure of the originally instrument.
3. Write/Revise the trading plan for the next day, which pairs to buy/sell, how many or how much, and tactically at what price to buy/sell and exit.
It's not mainly about checking everything and read all the information out there before the market opens. It's about be satisfied with the retaining content that works for the trading system. But most important, creating a routine that becomes the foundation in building success in investing or trading.
Article Source: http://www.superfeature.com
No trading is complete without a routine to make good trading habits in preparation for the trades. No good trading results come from lack of preparation. Once a routine is carried out consistently, trading success will come consistently. A basic checklist below will get a new trader started. Modifications can be made accordingly to fit the trader's preferences (use of fundamental or technical analysis), trading style (day, swing, position) and markets (single or multiple markets).
Before market opens
1. Check the day's economic calendar for any scheduled reports and announcements for the day-- This part covers the fundamental analysis. He will be checking the expected numbers against reports that will be publish during the day, recalculating the numbers to find value. (This is typically for the trader whose major strategy is based on fundamentals).
2. Draw up analysis for changes in the fundamental news & reports (interest rate changes, jobless numbers, specific company earnings etc.) to reflect to current market conditions.
3. Check the chart for overnight price action-this is mainly for a trader who trades using technical analysis. Normally he will check to see if the prices have violated any support/resistance area or any numbers that he considers important enough to confirm or reject the current direction or market conditions. In forex, the most popular indicators and tools used are:
a. Fibonacci numbers
b. Floor pivots (daily, weekly, monthly)
c. Support/Resistance areas (daily, week, month)
d. High/Low/Open/Close
e. MACD, RSI, Momentum, Volume, or other indicators.
4. Write a trading plan – This step provides the trader to write out his plan for the day, how many trades, how much to risk or make, where he'll be taking the position and where he'll exit, and how large the position size he's going to take.
During market hours
1. During market hours, the trader has a few options at hand:
a. Set alarms to notify crucial levels to trade to change positions that need to be made. (This is for swing and daytraders)
b. Watch news channels (optional) such as CNBC or Bloomberg to make sure there are no sudden economic or political news around the world that may impact market movements such resignation of a president, or terrorist attack on oil field, etc. (This is for daytraders).
c. Monitor the charts and indicators continuously, trendlines, pivots, and redrawing Fibonacci levels. (This is for daytraders).
d. Take positions as dictated in the trading plan. If the setup had appeared during the trading session that was written in the trading plan, execute it accordingly.
After market hours
Trader's Daily Routine Checklist Who Have Signal-Service or Newsletter Subscriptions
1. Check/read newsletters from paid/unpaid subscriptions from signal service, news, analysis, etc. and compare them to trading plan. Analyze them accordingly to be sure these fit into the trading plan.
2. Strategy portfolio management and maintenance-recalculating and verify if the balances are correct and if any instrument has gone outside the percentage of the portfolio. If for example an instrument that was made 30% in gains, these gains must be settled: either by reducing the holdings or hedge with another instrument to ensure the gains made or reduce exposure of the originally instrument.
3. Write/Revise the trading plan for the next day, which pairs to buy/sell, how many or how much, and tactically at what price to buy/sell and exit.
It's not mainly about checking everything and read all the information out there before the market opens. It's about be satisfied with the retaining content that works for the trading system. But most important, creating a routine that becomes the foundation in building success in investing or trading.
Article Source: http://www.superfeature.com
The TRUTH About Creating An Alternate Credit File By: Sean Matteson
What if I told you there was a way you could solve all your bad credit problems overnight by creating a brand new credit file in 24hrs - would you be interested? And what if I told you this program was 100% legal and even backed by the federal government - would that sound too good to be true?
Well... you're right. It is too good to be true but these types of ads are now surfacing again after the Federal Trade Commission launched "Operation New ID Bad Idea" over 8 years ago. This operation targeted (and took down) over 50 credit repair organizations and companies selling consumers both pamphlets and services giving them a brand new credit file under the pretense it was 100% legal and in some cases even claimed it to be a "government sponsored" program!
The con was simple. Companies would target consumers with bad credit and offer to create a brand new credit file for them by substituting an Employer Identification Number (EIN) for their Social Security Number (SSN) along with a new address. EIN's were obtained from the Internal Revenue Service on behalf of the consumer. With the EIN and a new address the companies would either have the consumer apply for credit with the "new information" or the company would apply for them. When the creditor would run the application it would automatically create a new credit file because the computer would be unable to find the consumer in the database due to the new address and SSN.
While there is some dispute among privacy experts as to whether or not this is legal, the FTC's actions at the time were not up for debate. Companies were advertising and luring in consumers in order to have them falsify credit applications by providing new information such as their address and SSN in order to obtain credit. This was a direct violation of the Truth in Lending Act (TILA) and worse yet, the companies were advertising to consumers that this was 100% legal and in some cases claiming it was a government sponsored program. As you'll hear me say often "In reality, nothing could be further from the truth".
Privacy experts will argue that using an EIN or 9 digit PIN (simply a made up number) in place of ones' SSN is completely legal since creditors are on shaky ground asking for your SSN in the first place. In regards to the truth in lending act they will argue that one has to exhibit "an intent to defraud" a creditor. My question "Is concealing ones' adverse credit history intent in itself?" While I am not an Attorney on the matter of credit law I can conclude that if a consumer was to create an alternate credit file using the EIN or PIN method they better be darn sure they never have a problem paying their bills. If they do, they most likely would find themselves in a courtroom with a case involving credit fraud. Which brings me to my next topic.
How To Create An Alternate Credit File Legally
Most consumers are unaware that in addition to consumer credit reports, both Experian and Equifax own and operate business credit reporting services. By creating a business credit profile a consumer can now create an alternate credit file legally. While some creditors such as residential utility companies will not allow you to use business credit in place of personal credit, we have had numerous clients who have successfully used business credit to obtain credit cards, automotive leases and loans. This technique (although controversial) can be very effective when done properly.
The basics of building business credit involve:
1.) Setting up the proper structure for your business (i.e. Corporation, LLC, etc.).
2.) Obtaining an EIN as well as a DUNS number (Dunn and Bradstreet).
3.) Borrow and/or buy products and services from vendors who reports to business credit reporting agencies such as Experian, Equifax and Dunn & Bradstreet. While building business credit requires time just like personal credit, don't get discouraged. Remember, when you set out to begin building your business credit you are starting with a clean slate. This is when it becomes imperative that one learn from the mistakes of their past. Remember, in the credit world those who do not learn from their past are (inevitably) doomed to repeat it.
Article Source: http://www.superfeature.com
Well... you're right. It is too good to be true but these types of ads are now surfacing again after the Federal Trade Commission launched "Operation New ID Bad Idea" over 8 years ago. This operation targeted (and took down) over 50 credit repair organizations and companies selling consumers both pamphlets and services giving them a brand new credit file under the pretense it was 100% legal and in some cases even claimed it to be a "government sponsored" program!
The con was simple. Companies would target consumers with bad credit and offer to create a brand new credit file for them by substituting an Employer Identification Number (EIN) for their Social Security Number (SSN) along with a new address. EIN's were obtained from the Internal Revenue Service on behalf of the consumer. With the EIN and a new address the companies would either have the consumer apply for credit with the "new information" or the company would apply for them. When the creditor would run the application it would automatically create a new credit file because the computer would be unable to find the consumer in the database due to the new address and SSN.
While there is some dispute among privacy experts as to whether or not this is legal, the FTC's actions at the time were not up for debate. Companies were advertising and luring in consumers in order to have them falsify credit applications by providing new information such as their address and SSN in order to obtain credit. This was a direct violation of the Truth in Lending Act (TILA) and worse yet, the companies were advertising to consumers that this was 100% legal and in some cases claiming it was a government sponsored program. As you'll hear me say often "In reality, nothing could be further from the truth".
Privacy experts will argue that using an EIN or 9 digit PIN (simply a made up number) in place of ones' SSN is completely legal since creditors are on shaky ground asking for your SSN in the first place. In regards to the truth in lending act they will argue that one has to exhibit "an intent to defraud" a creditor. My question "Is concealing ones' adverse credit history intent in itself?" While I am not an Attorney on the matter of credit law I can conclude that if a consumer was to create an alternate credit file using the EIN or PIN method they better be darn sure they never have a problem paying their bills. If they do, they most likely would find themselves in a courtroom with a case involving credit fraud. Which brings me to my next topic.
How To Create An Alternate Credit File Legally
Most consumers are unaware that in addition to consumer credit reports, both Experian and Equifax own and operate business credit reporting services. By creating a business credit profile a consumer can now create an alternate credit file legally. While some creditors such as residential utility companies will not allow you to use business credit in place of personal credit, we have had numerous clients who have successfully used business credit to obtain credit cards, automotive leases and loans. This technique (although controversial) can be very effective when done properly.
The basics of building business credit involve:
1.) Setting up the proper structure for your business (i.e. Corporation, LLC, etc.).
2.) Obtaining an EIN as well as a DUNS number (Dunn and Bradstreet).
3.) Borrow and/or buy products and services from vendors who reports to business credit reporting agencies such as Experian, Equifax and Dunn & Bradstreet. While building business credit requires time just like personal credit, don't get discouraged. Remember, when you set out to begin building your business credit you are starting with a clean slate. This is when it becomes imperative that one learn from the mistakes of their past. Remember, in the credit world those who do not learn from their past are (inevitably) doomed to repeat it.
Article Source: http://www.superfeature.com
The Great Benefits of Secured Business Cards By: Bauer, Ellene
If you like to start a business but your credit card rating is terrible, then you better shift your attention to secured business credit cards. These cards are simply like any regular credit card. However, because of the poor reputation of regular cards, a lot are still not akin to utilizing secured business credit cards despite of the many gains.
You must own a business and a collateral for you to avail of a secured business credit card. This is to ensure that the lenders investment is safeguarded in times of default payments. Your savings deposit, meanwhile, may determine how much your credit limit could be. Typically, secured business credit cards consist of higher interest charges. Still there are numerous creditors now that provide affordable interest. You could look in the Internet for your best options.
One advantage you might obtain from a secured business credit card is the ability to make your own credit score for your business. Contrary to what few people think, secured cards are not simply for those who possess bad credit position, they're also for individuals who have not earned credit scores at all. Secured business cards are also great for businesses who want additional funding. The money they could borrow can be beneficial for their continuous transactions.
Yet here is the most important thing. You can eventually restore your good credit standing with secured business credit card. Don't forget that you're almost considered disqualified from any mortgage with a terrible credit standing. Rehabilitating it will be very significant and secured business credit cards could be your solution to it. With your newly restored credit, you now possess a viable alternative for your business to obtain more investments from lending institutions. Don't be apprehensive about using secured business credit cards. Secured cards are relatively the same to unsecured ones. Only you as well as the bank or the creditor can be aware of the difference.
Secured business credit cards can offer backup during financial troubles. However, you can also help yourself in improving your current condition. You can start by developing your own feasible budget and sticking to it. Your budget should allow you to keep some money as well as pay the dues, including your responsibilities to your secured business credit cards.
Article Source: http://www.superfeature.com
You must own a business and a collateral for you to avail of a secured business credit card. This is to ensure that the lenders investment is safeguarded in times of default payments. Your savings deposit, meanwhile, may determine how much your credit limit could be. Typically, secured business credit cards consist of higher interest charges. Still there are numerous creditors now that provide affordable interest. You could look in the Internet for your best options.
One advantage you might obtain from a secured business credit card is the ability to make your own credit score for your business. Contrary to what few people think, secured cards are not simply for those who possess bad credit position, they're also for individuals who have not earned credit scores at all. Secured business cards are also great for businesses who want additional funding. The money they could borrow can be beneficial for their continuous transactions.
Yet here is the most important thing. You can eventually restore your good credit standing with secured business credit card. Don't forget that you're almost considered disqualified from any mortgage with a terrible credit standing. Rehabilitating it will be very significant and secured business credit cards could be your solution to it. With your newly restored credit, you now possess a viable alternative for your business to obtain more investments from lending institutions. Don't be apprehensive about using secured business credit cards. Secured cards are relatively the same to unsecured ones. Only you as well as the bank or the creditor can be aware of the difference.
Secured business credit cards can offer backup during financial troubles. However, you can also help yourself in improving your current condition. You can start by developing your own feasible budget and sticking to it. Your budget should allow you to keep some money as well as pay the dues, including your responsibilities to your secured business credit cards.
Article Source: http://www.superfeature.com
That College Student Needs A Student Credit Card, Today By: Angelknight
Student/college credit cards are credit cards specifically made for young men and women attending college. Though student credit cards are also referred to as college credit cards, we will use the identifier, student credit card in this information release. Student credit card is the more popular term to describe credit cards for young men and women attending college. Student cards allow their users to understand the benefits of "real world" credit card usage prior to graduating college and taking on a full time occupation. Typically, for most college students, their student credit card is their first credit card and the door-opener to the world of credit card usage. Some students may have previously used supplementary credit cards, but those credit cards are linked to their father’s or mother’s credit card account. Still, it is true for those college students too, that their student credit card is the first credit card they can really call their own.
Student credit cards are basically the same as other credit cards. They are used in the same way as most other credit cards are. Some differences come into play for student credit card users, primarily because they have no prior experience using credit cards and more than likely don’t understand credit cards, conceptually. Therefore, credit card issuers are at risk when approving student credit cards for young individuals who have little or no credit or credit card usage history. The inexperience of the student credit card user, in managing their finances competently, puts the student credit card issuer at risk of receiving the monthly credit card bill payments on time and/or receiving the payments at all. To insure themselves from student credit card issuance risks, the issuer of student credit cards usually requires a parent of the student to co-sign the student credit card application. Also, the credit limit assigned to student credit cards is lower than it is for credit cards given to working adults. Still, the assigned credit limit is, most often, sufficient to fulfill the college student’s needs. Another way credit card issuers use to dissuade college students from overspending is to assign a higher interest rate to the student card.
If we are to look at those seeming, previously mentioned, impositions in a positive manner, we will find that the same impositions are actually advantageous to the student, who is still learning to manage real world credit card usage. Most often those impositions will assist the student credit card user in gaining good credit history. Good credit history will be significant to the student at a later date in his or her life, when they want to obtain more credit cards or loans.
Student credit cards are a very important way to establish good credit. They are financial tools which most college student should consider acquiring.
Article Source: http://www.superfeature.com
Student credit cards are basically the same as other credit cards. They are used in the same way as most other credit cards are. Some differences come into play for student credit card users, primarily because they have no prior experience using credit cards and more than likely don’t understand credit cards, conceptually. Therefore, credit card issuers are at risk when approving student credit cards for young individuals who have little or no credit or credit card usage history. The inexperience of the student credit card user, in managing their finances competently, puts the student credit card issuer at risk of receiving the monthly credit card bill payments on time and/or receiving the payments at all. To insure themselves from student credit card issuance risks, the issuer of student credit cards usually requires a parent of the student to co-sign the student credit card application. Also, the credit limit assigned to student credit cards is lower than it is for credit cards given to working adults. Still, the assigned credit limit is, most often, sufficient to fulfill the college student’s needs. Another way credit card issuers use to dissuade college students from overspending is to assign a higher interest rate to the student card.
If we are to look at those seeming, previously mentioned, impositions in a positive manner, we will find that the same impositions are actually advantageous to the student, who is still learning to manage real world credit card usage. Most often those impositions will assist the student credit card user in gaining good credit history. Good credit history will be significant to the student at a later date in his or her life, when they want to obtain more credit cards or loans.
Student credit cards are a very important way to establish good credit. They are financial tools which most college student should consider acquiring.
Article Source: http://www.superfeature.com
Strong Housing Gains Driving Economic Growth By: Arthor Pens
Consumer spending, increased investment and a hot housing market have led the UK economy to beat first quarter predictions.
The GDP is up almost 3% from last year at the same time and is 2.8% higher than earlier forecasts had expected.
Fuelling the economy has been an growing housing market, where housing values continue to climb, despite recent rate hikes that the Bank of England had hoped would cool things off a bit.
The interest rates of almost 6% are at a 6 year high, but investors and home buyers seem to be ignoring rising rates. Home buyers in the last year have almost universally reported substantial and record increases on the equity value of their homes, and as long as housing values continue to rise, analysts expect that demand for housing and other loans will remain strong.
Consumer spending is up at 0.6% over the last quarter, and investment has risen by almost 2%. Services are by far the largest sector of the economy, and this sector has also shown strong growth.
Analysts say that the real engine behind the economic growth is a housing market that is giving people the confidence to spend. With housing values having risen at 13% over the last year, there are a lot of home owners with some extra money, and extra confidence right now.
Financial services have shown strong growth, partly in response to an increasing demand for equity and home based loans, as people move to take advantage of the rise in equity values, and the dramatic housing value increases that have allowed them a bigger financial cushion to work with.
Many advisors are forecasting another interest rate rise to combat the strong economy and increasing inflation, and many savvy loan seekers are using the current relatively low rates to lock into a fixed equity or home loan now, before the likely higher rates to come.
The housing market shows no signs of cooling, even with central planning measures, and the economy should continue to grow driven by a housing market engine that is pushing up consumer confidence and spending.
Article Source: http://www.superfeature.com
The GDP is up almost 3% from last year at the same time and is 2.8% higher than earlier forecasts had expected.
Fuelling the economy has been an growing housing market, where housing values continue to climb, despite recent rate hikes that the Bank of England had hoped would cool things off a bit.
The interest rates of almost 6% are at a 6 year high, but investors and home buyers seem to be ignoring rising rates. Home buyers in the last year have almost universally reported substantial and record increases on the equity value of their homes, and as long as housing values continue to rise, analysts expect that demand for housing and other loans will remain strong.
Consumer spending is up at 0.6% over the last quarter, and investment has risen by almost 2%. Services are by far the largest sector of the economy, and this sector has also shown strong growth.
Analysts say that the real engine behind the economic growth is a housing market that is giving people the confidence to spend. With housing values having risen at 13% over the last year, there are a lot of home owners with some extra money, and extra confidence right now.
Financial services have shown strong growth, partly in response to an increasing demand for equity and home based loans, as people move to take advantage of the rise in equity values, and the dramatic housing value increases that have allowed them a bigger financial cushion to work with.
Many advisors are forecasting another interest rate rise to combat the strong economy and increasing inflation, and many savvy loan seekers are using the current relatively low rates to lock into a fixed equity or home loan now, before the likely higher rates to come.
The housing market shows no signs of cooling, even with central planning measures, and the economy should continue to grow driven by a housing market engine that is pushing up consumer confidence and spending.
Article Source: http://www.superfeature.com
Start arranging your Spanish mortgage early on By: Steven Magill
Along the coast of Spain you will find property that could put you into a state of nostalgia. It is the perfect place for a summer home, the winter getaway, or just a nice romantic place to live in. Whether you choose Marbella or Malaga, you are bound to enjoy the exotic beauty that Spain provides. Acquiring property in Spain is not as difficult as it may seem. However, a prudent investor will begin to arrange a Spanish mortgage well in advance in order to benefit in the long run.
Decide on the type of Spanish mortgage
Prior to delving deeper into the world of Spanish mortgages, it is best to explore the plethora of options available to you. Choices are numerous and some are listed below. You can opt for a Repayment Spanish mortgage which is up to 80% of the value of the property. This comes with a very good interest rate and you get a maximum of forty years to pay it back. The other option is an Interest-only Spanish mortgage where for the first fifteen years you need to only pay interest as long as the loan amount does not exceed 70% of the loan value. This also allows you forty years to pay it back. A fixed rate Spanish mortgage will cover up to 70% of the property value. However, it has a cap of fifteen years for repayment.
Pointers for preliminary research
There are some things that you will need to know before starting your search for a property in Spain. Although this is not an exhaustive list, it will give you an opportunity to plan your Spanish mortgage in advance.
Eligibility: Are you eligible for a Spanish mortgage?
It helps to find out early on before you get your hopes up. A good mortgage broker will be able to analyse your case and offer you advice on how to become eligible. Proof of income: It is important to ascertain whether you can get a home mortgage in Spain. In most cases, all it takes is to prove your income. Once this crucial step is covered, you should be able to get at least 80% for residential valued property. If the actual purchase price is lower than the value of the home you will be able to get a Spanish mortgage to cover the entire home.
Cost:
The second thing you might think about is what the cost of the Spanish mortgage will be in Spain. This can differ based upon the value of the home. But a home loan of 100,000 euros can cost up to 4000 euros for closing. If you are a developer and you are building your own home you can get the maximum amount between 50% and 60% depending on the type of construction. Your Spanish mortgage terms can go up to 25 years.
Financing:
How are you planning to finance the mortgage? You have several options such as raising the capital from home, hiring a mortgage lender, using an international mortgage provider or local financing. While opting for Spanish mortgage, begin your research as early as possible, whether you are buying or building a house. If you begin to put your Spanish mortgage together in advance of your actual move date or even construction start date, you will feel more at ease when the money actually goes to work for you. Spain is an excellent choice for a relaxing lifestyle. By planning ahead you will realise that all the trouble you took was well worth it!
Article Source: http://www.superfeature.com
Decide on the type of Spanish mortgage
Prior to delving deeper into the world of Spanish mortgages, it is best to explore the plethora of options available to you. Choices are numerous and some are listed below. You can opt for a Repayment Spanish mortgage which is up to 80% of the value of the property. This comes with a very good interest rate and you get a maximum of forty years to pay it back. The other option is an Interest-only Spanish mortgage where for the first fifteen years you need to only pay interest as long as the loan amount does not exceed 70% of the loan value. This also allows you forty years to pay it back. A fixed rate Spanish mortgage will cover up to 70% of the property value. However, it has a cap of fifteen years for repayment.
Pointers for preliminary research
There are some things that you will need to know before starting your search for a property in Spain. Although this is not an exhaustive list, it will give you an opportunity to plan your Spanish mortgage in advance.
Eligibility: Are you eligible for a Spanish mortgage?
It helps to find out early on before you get your hopes up. A good mortgage broker will be able to analyse your case and offer you advice on how to become eligible. Proof of income: It is important to ascertain whether you can get a home mortgage in Spain. In most cases, all it takes is to prove your income. Once this crucial step is covered, you should be able to get at least 80% for residential valued property. If the actual purchase price is lower than the value of the home you will be able to get a Spanish mortgage to cover the entire home.
Cost:
The second thing you might think about is what the cost of the Spanish mortgage will be in Spain. This can differ based upon the value of the home. But a home loan of 100,000 euros can cost up to 4000 euros for closing. If you are a developer and you are building your own home you can get the maximum amount between 50% and 60% depending on the type of construction. Your Spanish mortgage terms can go up to 25 years.
Financing:
How are you planning to finance the mortgage? You have several options such as raising the capital from home, hiring a mortgage lender, using an international mortgage provider or local financing. While opting for Spanish mortgage, begin your research as early as possible, whether you are buying or building a house. If you begin to put your Spanish mortgage together in advance of your actual move date or even construction start date, you will feel more at ease when the money actually goes to work for you. Spain is an excellent choice for a relaxing lifestyle. By planning ahead you will realise that all the trouble you took was well worth it!
Article Source: http://www.superfeature.com
Spanish Mortgages v UK Mortgages By: Steven Magill
Many have wondered if it benefits an investor in Spanish property to have their loan processed in the UK or Spain. This article is written for the express purpose of comparing the two in an attempt to help you make an informed decision.
The largest question to answer is whether or not you intend to live in Spain once the purchase is made. It is generally accepted that interest rates are a little lower outside of the UK, but banking with someone you know and trust could make the difference. Today, Spanish banks or ‘Bancos' are more favourable towards foreigners investing in Spain. For the sake of this article let's look at this as if you wanted to buy a home in Spain with a bank in the UK, and then we will look at it from the Spanish bank's view. Mortgages are mortgages, right? Well, let's see.
There is first the difference in mortgage rates. When you compare Spanish Mortgage v UK Mortgages, you will find that the latter is a lower by around 5%. Spanish banks also offer several plans so be sure to evaluate them all before you make a final choice. You will find that competition between Spanish banks is quite stiff. Therefore, you can negotiate with several banks and they will do everything to better the offer of the other bank. When comparing Spanish Mortgage v UK Mortgages be informed that Spanish banks will not allow you to show projected incomes especially on rent. When choosing to deal with a Spanish bank you will find that most banks are familiar with the process of property acquisition thus this can be a good resource for further information. Another advantage of dealing with a Spanish bank is that your mortgage or your liability is in the same currency as your property or your asset. When comparing Spanish Mortgage v UK Mortgages you will find that interest rates are lower for a Spanish mortgage so your payable monthly interest will not be very high. When comparing the deposit required with regard to Spanish Mortgages v UK Mortgages the latter is higher by around 20 – 30%. If you want to rent out your property it helps if your income is in the same currency as your interest payment. When it comes to Spanish Mortgages v UK Mortgages unfortunately you may not receive favourable terms from a UK banker as most of them are unfamiliar with investing in Spanish property. When comparing Spanish Mortgages v UK Mortgages it is wise to higher a tax consultant as the tax rules for each country can have a direct impact on the mortgage costs. Spanish Mortgages require property as collateral, but UK Mortgages, even for purchases in Spain will require, in most cases, collateral in the UK. When you want to purchase a home abroad it is a good idea to hire some professional help to ascertain the best possible outcome. When comparing Spanish Mortgages v UK Mortgages, the terms of repayment for UK mortgage ranges from 5 years to 30 years while for Spanish mortgage it ranges from 5 years to 40 years. So it is easy to see that there is a little more offered in Spain, when compared to UK.
When all the dust settles down, however, it is left to the judgment of the individual buyer to decide. Hopefully, you are now more equipped to make a comparison between Spanish Mortgages v UK Mortgages.
Article Source: http://www.superfeature.com
The largest question to answer is whether or not you intend to live in Spain once the purchase is made. It is generally accepted that interest rates are a little lower outside of the UK, but banking with someone you know and trust could make the difference. Today, Spanish banks or ‘Bancos' are more favourable towards foreigners investing in Spain. For the sake of this article let's look at this as if you wanted to buy a home in Spain with a bank in the UK, and then we will look at it from the Spanish bank's view. Mortgages are mortgages, right? Well, let's see.
There is first the difference in mortgage rates. When you compare Spanish Mortgage v UK Mortgages, you will find that the latter is a lower by around 5%. Spanish banks also offer several plans so be sure to evaluate them all before you make a final choice. You will find that competition between Spanish banks is quite stiff. Therefore, you can negotiate with several banks and they will do everything to better the offer of the other bank. When comparing Spanish Mortgage v UK Mortgages be informed that Spanish banks will not allow you to show projected incomes especially on rent. When choosing to deal with a Spanish bank you will find that most banks are familiar with the process of property acquisition thus this can be a good resource for further information. Another advantage of dealing with a Spanish bank is that your mortgage or your liability is in the same currency as your property or your asset. When comparing Spanish Mortgage v UK Mortgages you will find that interest rates are lower for a Spanish mortgage so your payable monthly interest will not be very high. When comparing the deposit required with regard to Spanish Mortgages v UK Mortgages the latter is higher by around 20 – 30%. If you want to rent out your property it helps if your income is in the same currency as your interest payment. When it comes to Spanish Mortgages v UK Mortgages unfortunately you may not receive favourable terms from a UK banker as most of them are unfamiliar with investing in Spanish property. When comparing Spanish Mortgages v UK Mortgages it is wise to higher a tax consultant as the tax rules for each country can have a direct impact on the mortgage costs. Spanish Mortgages require property as collateral, but UK Mortgages, even for purchases in Spain will require, in most cases, collateral in the UK. When you want to purchase a home abroad it is a good idea to hire some professional help to ascertain the best possible outcome. When comparing Spanish Mortgages v UK Mortgages, the terms of repayment for UK mortgage ranges from 5 years to 30 years while for Spanish mortgage it ranges from 5 years to 40 years. So it is easy to see that there is a little more offered in Spain, when compared to UK.
When all the dust settles down, however, it is left to the judgment of the individual buyer to decide. Hopefully, you are now more equipped to make a comparison between Spanish Mortgages v UK Mortgages.
Article Source: http://www.superfeature.com
Spanish mortgage costs explained By: Steven Magill
There is nothing quite as daunting as having your hopes dashed by the rocks of ignorance. The ignorance that is referred to here is the simple fact of "not knowing" all you need to before making a decision. A deeper understanding of Spanish mortgage costs will help you make the right decision. Although it may seem a little confusing to a beginner, we have tried to highlight the key points.
Spain is a beautiful, peaceful, and stress-free lifestyle that appeals to many. However, without knowing all there is to know about purchasing property in Spain, it can turn into quite a headache!
Spanish Mortgage costs include:
Property valuation: Spanish Mortgages require a property valuation which means that a certified valuation company will make an estimation of the value of the property before a mortgage can be taken on the property
Land registry fee: Before a Spanish Mortgage lender will lend money towards the purchase of the property, it must be ascertained if there are any outstanding debts owed against the property.
Opening Fee: Usually around 1% of the value of the property, this is the charged set fee for establishing a Spanish Mortgage.
Mortgage Insurance: When creating a Spanish Mortgage there are three types of insurance required. The first deals with the contents of the house and the house itself. The second is life insurance and the last is mortgage insurance. The first is self-explanatory and the last two are not necessarily mandatory but becomes important when negotiating the mortgage for the house.
Notary Fee: This is a charge for the clauses included in Spanish Mortgage and is based upon how many clauses there are
Land Registry Fee: The fee established by the Spanish Mortgage itself and is usually the same cost as registering the land itself, only it is included in the mortgage
Stamp Duty: Anywhere from .85% to 1.7% of the value of the Spanish Mortgage
Deed Arrangement Fee: This fee is for the deed to be inscribed in the local land registry to be certain that all matters of the Spanish Mortgage are correctly done
Early Cancellation Fee: A 1% fee based on the value of the Spanish Mortgage should the owner cancel the mortgage
Partial Cancellation Fee: Usually based on the amount of the Spanish Mortgage that is paid off early
Subrogation Fee: This fee is similar to the opening fee, but is one that the person who takes over a mortgage pays in lieu of the opening fee as in a new Spanish Mortgage, and also sets a lower rate for Notary, land taxes, and registry
Interest Payments: This is the part of the payment made to your Spanish Mortgage that is charged as a fee for the bank to carry the mortgage and is higher at the beginning of a Spanish Mortgage than at the end
Capital Repayment: This is the amount in the monthly payment that covers the actual cost of the house less the interest.
Article Source: http://www.superfeature.com
Spain is a beautiful, peaceful, and stress-free lifestyle that appeals to many. However, without knowing all there is to know about purchasing property in Spain, it can turn into quite a headache!
Spanish Mortgage costs include:
Property valuation: Spanish Mortgages require a property valuation which means that a certified valuation company will make an estimation of the value of the property before a mortgage can be taken on the property
Land registry fee: Before a Spanish Mortgage lender will lend money towards the purchase of the property, it must be ascertained if there are any outstanding debts owed against the property.
Opening Fee: Usually around 1% of the value of the property, this is the charged set fee for establishing a Spanish Mortgage.
Mortgage Insurance: When creating a Spanish Mortgage there are three types of insurance required. The first deals with the contents of the house and the house itself. The second is life insurance and the last is mortgage insurance. The first is self-explanatory and the last two are not necessarily mandatory but becomes important when negotiating the mortgage for the house.
Notary Fee: This is a charge for the clauses included in Spanish Mortgage and is based upon how many clauses there are
Land Registry Fee: The fee established by the Spanish Mortgage itself and is usually the same cost as registering the land itself, only it is included in the mortgage
Stamp Duty: Anywhere from .85% to 1.7% of the value of the Spanish Mortgage
Deed Arrangement Fee: This fee is for the deed to be inscribed in the local land registry to be certain that all matters of the Spanish Mortgage are correctly done
Early Cancellation Fee: A 1% fee based on the value of the Spanish Mortgage should the owner cancel the mortgage
Partial Cancellation Fee: Usually based on the amount of the Spanish Mortgage that is paid off early
Subrogation Fee: This fee is similar to the opening fee, but is one that the person who takes over a mortgage pays in lieu of the opening fee as in a new Spanish Mortgage, and also sets a lower rate for Notary, land taxes, and registry
Interest Payments: This is the part of the payment made to your Spanish Mortgage that is charged as a fee for the bank to carry the mortgage and is higher at the beginning of a Spanish Mortgage than at the end
Capital Repayment: This is the amount in the monthly payment that covers the actual cost of the house less the interest.
Article Source: http://www.superfeature.com
SAS Update - Caporicci & Larson – San Diego, Orange County, Oakland, and Sacramento By: Stephen L. Larson
During 2005 and 2006, the American Institute of Certified Public Accountants issued several new standards to improve and clarify auditing standards in general.
There were two statements that were issued and became effective upon issuance:
Statement on Auditing Standards (SAS) Numbers 102 and 103.
SAS No.102, Defining Professional Requirements in Statement on Auditing Standards, clarifies steps in auditing standards that are “unconditional requirements” defined by works such as “must” and “is required to”; and steps that are “presumptively mandatory requirements” defined by words such as “should”.
SAS No. 103, Audit Documentation, provides guidance on audit documentation as an essential element of audit quality. This standard also gives guidance on the date of the audit report which cannot be earlier than the date on which the auditor has obtained sufficient appropriate audit evidence to support the opinion. As a result, the audit report date will need to be close to the date the reports are released
The American Institute of Certified Public Accountants also issued the Risk Assessment standard in March 2006. The project originated as a joint project with SAS No. 99, Consideration of Fraud in a Financial Statement Audit. These standards were issued because the Accounting Standards Board believes that they will strengthen auditing standards and provide a more in depth understanding of the entity and its environment, a more rigorous assessment of material misstatements and improved linkage between assessed risk and the nature, timing and extent of audit procedures performed.
The following standards are in the suite of SASs issued in connection with the Risk Assessment standards:
SAS No. 104 – Amendment to SAS No.1- Codification of Auditing Standards and Procedures
SAS No. 105 – Amendment to SAS No.95 – Generally Accepted Auditing Standards
SAS No. 106 – Audit Evidence
SAS No. 107 – Audit Risk and Materiality in Conducting and Audit
SAS No. 108 – Planning and Supervision
SAS No. 109 – Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement
SAS No. 110 – Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained
SAS No. 111- Amendment to SAS No. 39 - Audit Sampling
A greater understanding of the entity is required. Auditors are no longer able to assess control risk at maximum without a basis for that determination.
There are several steps auditors must take in applying the Risk Assessment Standards.
Gathering Information - The auditors must begin with gathering information about the entity and its environment, including its internal control. Information gathering should include at minimum information obtained from external factors; information about the nature of the client; information in connection with the objectives and strategies and related business risks of the client; information regarding the client’s measurement parameters including a review of the client’s financial performance; and information in connection with the client’s internal controls.
Understand the Entity - The auditor must also understand the entity and its environment, including its internal control. The auditor must anticipate and evaluate what could go wrong, and be able to synthesize the information gathered to determine how it might affect the financial statements. The auditor must also evaluate the design of the client’s controls and determine if those controls have been implemented (which is different than test of controls). In evaluating whether controls have been implemented, the auditor should determine if there is an awareness of the existence of the procedure in question and if the staff implementing the control have a working knowledge of how the procedure should be performed.
Assess Risk - The auditor must assess the risk of material misstatement by identifying risks throughout the process, relate the identified risks to what can go wrong at the relevant assertion level and consider whether the risks could result in a material misstatement to the financial statements. Once “significant risks” have been identified, the auditor can then design audit procedures accordingly.
Design Audit Procedures - The auditor should design overall responses and further audit procedures at both the financial statement level, and the relevant assertion level. In designing audit procedures, the auditor must provide and document a clear linkage between the assessment of the risk of material misstatement and the nature, timing and extent of the further audit procedures.
Article Source: http://www.superfeature.com
There were two statements that were issued and became effective upon issuance:
Statement on Auditing Standards (SAS) Numbers 102 and 103.
SAS No.102, Defining Professional Requirements in Statement on Auditing Standards, clarifies steps in auditing standards that are “unconditional requirements” defined by works such as “must” and “is required to”; and steps that are “presumptively mandatory requirements” defined by words such as “should”.
SAS No. 103, Audit Documentation, provides guidance on audit documentation as an essential element of audit quality. This standard also gives guidance on the date of the audit report which cannot be earlier than the date on which the auditor has obtained sufficient appropriate audit evidence to support the opinion. As a result, the audit report date will need to be close to the date the reports are released
The American Institute of Certified Public Accountants also issued the Risk Assessment standard in March 2006. The project originated as a joint project with SAS No. 99, Consideration of Fraud in a Financial Statement Audit. These standards were issued because the Accounting Standards Board believes that they will strengthen auditing standards and provide a more in depth understanding of the entity and its environment, a more rigorous assessment of material misstatements and improved linkage between assessed risk and the nature, timing and extent of audit procedures performed.
The following standards are in the suite of SASs issued in connection with the Risk Assessment standards:
SAS No. 104 – Amendment to SAS No.1- Codification of Auditing Standards and Procedures
SAS No. 105 – Amendment to SAS No.95 – Generally Accepted Auditing Standards
SAS No. 106 – Audit Evidence
SAS No. 107 – Audit Risk and Materiality in Conducting and Audit
SAS No. 108 – Planning and Supervision
SAS No. 109 – Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement
SAS No. 110 – Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained
SAS No. 111- Amendment to SAS No. 39 - Audit Sampling
A greater understanding of the entity is required. Auditors are no longer able to assess control risk at maximum without a basis for that determination.
There are several steps auditors must take in applying the Risk Assessment Standards.
Gathering Information - The auditors must begin with gathering information about the entity and its environment, including its internal control. Information gathering should include at minimum information obtained from external factors; information about the nature of the client; information in connection with the objectives and strategies and related business risks of the client; information regarding the client’s measurement parameters including a review of the client’s financial performance; and information in connection with the client’s internal controls.
Understand the Entity - The auditor must also understand the entity and its environment, including its internal control. The auditor must anticipate and evaluate what could go wrong, and be able to synthesize the information gathered to determine how it might affect the financial statements. The auditor must also evaluate the design of the client’s controls and determine if those controls have been implemented (which is different than test of controls). In evaluating whether controls have been implemented, the auditor should determine if there is an awareness of the existence of the procedure in question and if the staff implementing the control have a working knowledge of how the procedure should be performed.
Assess Risk - The auditor must assess the risk of material misstatement by identifying risks throughout the process, relate the identified risks to what can go wrong at the relevant assertion level and consider whether the risks could result in a material misstatement to the financial statements. Once “significant risks” have been identified, the auditor can then design audit procedures accordingly.
Design Audit Procedures - The auditor should design overall responses and further audit procedures at both the financial statement level, and the relevant assertion level. In designing audit procedures, the auditor must provide and document a clear linkage between the assessment of the risk of material misstatement and the nature, timing and extent of the further audit procedures.
Article Source: http://www.superfeature.com
Rewards for Your Good Deeds By: Angelina Pyrkins
People who give to charity do so freely, without a tinge of "what's in it for me". But even the most earnest philanthropists will agree that a tax break can make the good feeling you get from giving, even better.
When you donate to your favorite charity, make sure to let the tax agency know. Charitable tax deductions are readily and legitimately available to you. Your contributions to charitable organizations can add up to a sizeable deduction when you itemize them on IRS Form 1040, Schedule A.
Like all things in life, charities can be good or bad. Most are worthy, legitimate organizations that rely on the donations of generous individuals. On the other hand, some "charities" are no more than crooks who are happy to take your cash and run. That's why it's so important to do your homework before making your donation. Ask for the group's charitable organization number. It's also a good idea to pick up a copy of the IRS Publication 78. This guide is available online and at most public libraries and provides a complete list of all charitable organizations that are recognized by tax agencies.
If you're looking for a tax break for donations made to an individual person, a politician or a political organization, you're out of luck. No tax benefits are available for these types of gifts. Additionally, you cannot claim a deduction for the time that you spend raising funds through activities such as raffles, casino games or bingo.
You don't necessarily have to give cash to get a tax break. Deductions may be available for contributions of merchandise, goods or services. The amount of the tax break is based on the market value of the merchandise, goods or services donated. In other words, if your business donates a product valued at $200 to a local charity, you can claim a $200 tax deduction, provided that it is a charitable organization recognized by the tax agency. It's also possible to receive a tax deduction for your donation of company stocks. The value of the stocks is based on the average high and low values on the date of valuation of the gifted stocks.
Donated vehicles can also net you a sizeable tax deduction. Automobiles, airplanes and boats can all be donated to charity in exchange for a tax break. The amount of the deduction will be based on the vehicle's resale value at the time of your donation, so be sure to have a proper appraisal before you donate. One important point to remember is that if the value of the vehicle exceeds $500 and the charity in turn sells the vehicle, the amount of your tax credit will be limited to the gross proceeds of the sale.
Household and personal items that are donated may also qualify for a tax deduction. The value of the item is based on the amount that the item would cost at a second-hand shop or garage sale. Be sure to get a proper receipt from the charitable organization that states the value of your donation. This is a requirement for any charitable contribution valued at over $250.
Be sure to claim your tax deduction in the same year that you make your donation. It doesn't matter if you have a check or credit card statement that proves your donation. If it's from a previous year, you won't be able to claim the donation. These amounts cannot be carried over to a new tax year.
It's true that it's better to give than to receive, but it doesn't hurt to get a little back. Keep a list of your charitable donations, and claim them at the end of the tax year. Consider it your just reward.
Article Source: http://www.superfeature.com
When you donate to your favorite charity, make sure to let the tax agency know. Charitable tax deductions are readily and legitimately available to you. Your contributions to charitable organizations can add up to a sizeable deduction when you itemize them on IRS Form 1040, Schedule A.
Like all things in life, charities can be good or bad. Most are worthy, legitimate organizations that rely on the donations of generous individuals. On the other hand, some "charities" are no more than crooks who are happy to take your cash and run. That's why it's so important to do your homework before making your donation. Ask for the group's charitable organization number. It's also a good idea to pick up a copy of the IRS Publication 78. This guide is available online and at most public libraries and provides a complete list of all charitable organizations that are recognized by tax agencies.
If you're looking for a tax break for donations made to an individual person, a politician or a political organization, you're out of luck. No tax benefits are available for these types of gifts. Additionally, you cannot claim a deduction for the time that you spend raising funds through activities such as raffles, casino games or bingo.
You don't necessarily have to give cash to get a tax break. Deductions may be available for contributions of merchandise, goods or services. The amount of the tax break is based on the market value of the merchandise, goods or services donated. In other words, if your business donates a product valued at $200 to a local charity, you can claim a $200 tax deduction, provided that it is a charitable organization recognized by the tax agency. It's also possible to receive a tax deduction for your donation of company stocks. The value of the stocks is based on the average high and low values on the date of valuation of the gifted stocks.
Donated vehicles can also net you a sizeable tax deduction. Automobiles, airplanes and boats can all be donated to charity in exchange for a tax break. The amount of the deduction will be based on the vehicle's resale value at the time of your donation, so be sure to have a proper appraisal before you donate. One important point to remember is that if the value of the vehicle exceeds $500 and the charity in turn sells the vehicle, the amount of your tax credit will be limited to the gross proceeds of the sale.
Household and personal items that are donated may also qualify for a tax deduction. The value of the item is based on the amount that the item would cost at a second-hand shop or garage sale. Be sure to get a proper receipt from the charitable organization that states the value of your donation. This is a requirement for any charitable contribution valued at over $250.
Be sure to claim your tax deduction in the same year that you make your donation. It doesn't matter if you have a check or credit card statement that proves your donation. If it's from a previous year, you won't be able to claim the donation. These amounts cannot be carried over to a new tax year.
It's true that it's better to give than to receive, but it doesn't hurt to get a little back. Keep a list of your charitable donations, and claim them at the end of the tax year. Consider it your just reward.
Article Source: http://www.superfeature.com
Reasons to Buy Real Estate in Oklahoma City By: Bob Janeway
There are many questions a buyer of property should ask himself or herself before committing to a real estate investment. It is necessary to ask these questions so that the purchase will be a wise one, and a positive experience. When making a purchase in Oklahoma City there are many attractions that will help to make your experience a positive one. Finding answers that satisfy your needs will turn into your reasons to buy real estate in Oklahoma City.
The capital of the state of Oklahoma is Oklahoma City. A property located there will interest individuals who are active in political events or those who just like to stay where the action is. There are a lot of cultural landmarks such as the Myriad Botanical Gardens located downtown that increases the value of property there. This is a large urban park, which pulls residents and visitors alike to the community. Community value is one element of property ownership that is important whether you are purchasing for personal or commercial reasons. To add more value the city offers many other cultural events like performing art centers, colleges and universities, museums, upscale retail stores and trendy restaurants all of which give real value to your property.
Oklahoma City has amenities both city and urban with an average property selling price of $135.000. There are many different neighborhoods to choose from: downtown, Asian district, near the Bricktown Entertainment District, or quiet residential streets that give you the hometown feel. The latest statistics has the population of the city at 589,003 with an owner occupied being at 53%.
When buying investment property here are a few questions to get you started:
1. What can I expect as far as cash flow for this property?
2. Can I afford to support this property if the cash flow should turn negative?
3. What are the local improvements planned for the area the property is listed in?
4. Is there population growth for this area? (You do not want to purchase in an area with negative growth).
5. Is the property and neighborhood tenant friendly?
6. What kind of condition is the property in and how much will it cost to conduct a building inspection? (always get an inspection done).
7. How old is the property? (deprecation benefits are less with older properties)
8. How many industries are present in the city? (If there is only one industry - avoid at all costs).
The statistic of home ownership for 2000 shows 67.7% of Americans own versus renting their home. More adults are realizing that it is possible to have that dream of owning a home. Here are a few questions to ask when taking the plunge to owning personal real estate:
1. Do you know what your total costs will be from Day 1 to closing on the property?
2. Do you know how to find a real estate agent that will look out for your needs and not the buyer's or the agent's?
3. Do you understand the financial aspects of buying a home? (getting a mortgage, property taxes, insurance, maintenance)
4. Do you know what your credit report says about your financial state?
5. Do you know what type of housing and what type of community you are looking to live in?
6. Do you understand basic real estate terminology?
7. Do you know how to negotiate terms for your new home purchase?
8. Have you shopped around for quality and affordable homeowners insurance?
Now that you have your questions, get those answers so that you will know all the reasons for buying your real estate property in Oklahoma City.
Article Source: http://www.superfeature.com
The capital of the state of Oklahoma is Oklahoma City. A property located there will interest individuals who are active in political events or those who just like to stay where the action is. There are a lot of cultural landmarks such as the Myriad Botanical Gardens located downtown that increases the value of property there. This is a large urban park, which pulls residents and visitors alike to the community. Community value is one element of property ownership that is important whether you are purchasing for personal or commercial reasons. To add more value the city offers many other cultural events like performing art centers, colleges and universities, museums, upscale retail stores and trendy restaurants all of which give real value to your property.
Oklahoma City has amenities both city and urban with an average property selling price of $135.000. There are many different neighborhoods to choose from: downtown, Asian district, near the Bricktown Entertainment District, or quiet residential streets that give you the hometown feel. The latest statistics has the population of the city at 589,003 with an owner occupied being at 53%.
When buying investment property here are a few questions to get you started:
1. What can I expect as far as cash flow for this property?
2. Can I afford to support this property if the cash flow should turn negative?
3. What are the local improvements planned for the area the property is listed in?
4. Is there population growth for this area? (You do not want to purchase in an area with negative growth).
5. Is the property and neighborhood tenant friendly?
6. What kind of condition is the property in and how much will it cost to conduct a building inspection? (always get an inspection done).
7. How old is the property? (deprecation benefits are less with older properties)
8. How many industries are present in the city? (If there is only one industry - avoid at all costs).
The statistic of home ownership for 2000 shows 67.7% of Americans own versus renting their home. More adults are realizing that it is possible to have that dream of owning a home. Here are a few questions to ask when taking the plunge to owning personal real estate:
1. Do you know what your total costs will be from Day 1 to closing on the property?
2. Do you know how to find a real estate agent that will look out for your needs and not the buyer's or the agent's?
3. Do you understand the financial aspects of buying a home? (getting a mortgage, property taxes, insurance, maintenance)
4. Do you know what your credit report says about your financial state?
5. Do you know what type of housing and what type of community you are looking to live in?
6. Do you understand basic real estate terminology?
7. Do you know how to negotiate terms for your new home purchase?
8. Have you shopped around for quality and affordable homeowners insurance?
Now that you have your questions, get those answers so that you will know all the reasons for buying your real estate property in Oklahoma City.
Article Source: http://www.superfeature.com
Quality of life – North Carolina Style By: Michael McLaughlin-9378
Can the communities in which live determine our quality of life? Well, to a certain extent, yes. Quality of life means different things to different folks. But for many, In a community context, it means: affordable housing, a prosperous job market, quality healthcare, and excellent schools.
First a little geography: Raleigh is the capitol of North Carolina and Cary adjoins Raleigh's South West boarder. Both are located in Wake County which is located roughly in the middle of state of North Carolina.
The Raleigh/Cary area has received lots of press lately. Forbes Magazine, for instance, has voted the Raleigh the number one best Place for Business and Careers. Forbes, in a separate article cited the Raleigh area as the 3rd Least Overpriced Housing Markets in the Country. And while we are on the topic, let's not forget Cary was voted #5 best place to live in the whole country by Money Magazine.
Apparently the word is out. People are flocking to the Cary/Raleigh area. In fact, the good folks at the Census Bureau say it's the 18th fastest growing area in the whole country. 100 people a day are moving into Wake County. The burgeoning Wake County school system opened 7 new schools this year and converted some to year around to further increase capacity.
What's so appealing? Well, the two of the bigger reasons: jobs and affordable housing. While $650,000 buys just a modest 3 bedroom ranch in the Virginia suburbs, it buys a brand new home with many upgrades and a big yard in Cary/Raleigh. And while many New York residents routinely pay around $10,000 to 20,000 per year in taxes, Cary/Raleigh residents pay roughly 1/10th of that. In addition, Cary real estate has consistently enjoyed a slow and steady 3-5 percent property appreciation per year.
In addition to these appetizing ingredients to Raleigh/Cary's most appealing recipe, add a splash of great schools excellent health care, low crime, and mild weather to the mix. Cary is part of the superb Wake County school system and many of the best schools in the county are found in Cary, NC.
Cary, North Carolina is the seventh safest city in the whole county. Perhaps in part due to the religious influence of the Bible belt or perhaps the triangles distinction of having the most PhD's per capita. Regardless, families feel safe in Cary and Raleigh's streets and parks.
With Wake, Rex and Duke Hospitals close by, residents enjoy some of the finest and most advanced health care in the nation. Lastly, you can't say enough about the weather here. The area defiantly has four seasons. Now, summers can be quite warm and humid, however winters are typically short and mild. Spring and fall are long and lovely. The spring flowers are brilliant and the fall colors magnificent.
Article Source: http://www.superfeature.com
First a little geography: Raleigh is the capitol of North Carolina and Cary adjoins Raleigh's South West boarder. Both are located in Wake County which is located roughly in the middle of state of North Carolina.
The Raleigh/Cary area has received lots of press lately. Forbes Magazine, for instance, has voted the Raleigh the number one best Place for Business and Careers. Forbes, in a separate article cited the Raleigh area as the 3rd Least Overpriced Housing Markets in the Country. And while we are on the topic, let's not forget Cary was voted #5 best place to live in the whole country by Money Magazine.
Apparently the word is out. People are flocking to the Cary/Raleigh area. In fact, the good folks at the Census Bureau say it's the 18th fastest growing area in the whole country. 100 people a day are moving into Wake County. The burgeoning Wake County school system opened 7 new schools this year and converted some to year around to further increase capacity.
What's so appealing? Well, the two of the bigger reasons: jobs and affordable housing. While $650,000 buys just a modest 3 bedroom ranch in the Virginia suburbs, it buys a brand new home with many upgrades and a big yard in Cary/Raleigh. And while many New York residents routinely pay around $10,000 to 20,000 per year in taxes, Cary/Raleigh residents pay roughly 1/10th of that. In addition, Cary real estate has consistently enjoyed a slow and steady 3-5 percent property appreciation per year.
In addition to these appetizing ingredients to Raleigh/Cary's most appealing recipe, add a splash of great schools excellent health care, low crime, and mild weather to the mix. Cary is part of the superb Wake County school system and many of the best schools in the county are found in Cary, NC.
Cary, North Carolina is the seventh safest city in the whole county. Perhaps in part due to the religious influence of the Bible belt or perhaps the triangles distinction of having the most PhD's per capita. Regardless, families feel safe in Cary and Raleigh's streets and parks.
With Wake, Rex and Duke Hospitals close by, residents enjoy some of the finest and most advanced health care in the nation. Lastly, you can't say enough about the weather here. The area defiantly has four seasons. Now, summers can be quite warm and humid, however winters are typically short and mild. Spring and fall are long and lovely. The spring flowers are brilliant and the fall colors magnificent.
Article Source: http://www.superfeature.com
Property For Sale in Andalusia By: Steven Magill
Andalusia is without a doubt, the ideal place to search for a property in Spain, thanks to its fine climate, lots of sunshine and picturesque scenery. There are numerous rural properties in this beautiful area and buyers can choose between a lovely town house, a brand new villa, or traditionally styled cortijos or fincas which exude history and character.
An already established and excellent infrastructure which includes high European standards in medical and social security services makes this a perfect place to invest in. To that you can add a fantastic and warm climate year round and an abundance of outdoor pursuits, such as golf, beaches and an attractive Spanish culture. These are just some characteristics that should induce to you buy property for sale in Andalusia.
Purchasing a property for sale in Andalusia is a wise decision as it offers easy accessibility from the United Kingdom, with budget fares and a short flight trip. Spain has a lot of tourism thus the rental market is always flourishing. So investing in a property for sale in Andalusia will definitely bring about excellent returns.
Advantages of owning a property for sale in Andalusia
When choosing to buy a property for sale in Andalusia you are offered a variety of options such as villas, apartments, country houses (fincas), farm houses (cortijos), etc., with prices varying depending on your choice. The Andalusian people are popular for their hospitality, fun, loyalty and overall good nature. Andalusia is the world's largest producer of olive oil and is well-known for its fish and sea food.
Owning a property in Andalusia can guarantee sport facilities like, diving, sailing, fishing, wind-surfing, motorcycling and hunting. Andalusia has one of the best international airports in the world and important ports. It also has improved railroads, which makes the links better between big cities. Andalusia boasts of being one of the warmest regions in Europe, with 3000 hours of sun per year.
Buying a property for sale in Andalusia - some hints
More than one visit to the proposed property and its surroundings before buying is advisable. Schedules of trains, public buses, trams etc. Silence and privacy are important factors to keep in mind. The property for sale in Andalusia should include some type of heating for weather changes. Ask around to get a personal opinion from some of the people living near the property. Be better informed. Spanish property remains the favourite investment market for overseas property buyers.
Article Source: http://www.superfeature.com
An already established and excellent infrastructure which includes high European standards in medical and social security services makes this a perfect place to invest in. To that you can add a fantastic and warm climate year round and an abundance of outdoor pursuits, such as golf, beaches and an attractive Spanish culture. These are just some characteristics that should induce to you buy property for sale in Andalusia.
Purchasing a property for sale in Andalusia is a wise decision as it offers easy accessibility from the United Kingdom, with budget fares and a short flight trip. Spain has a lot of tourism thus the rental market is always flourishing. So investing in a property for sale in Andalusia will definitely bring about excellent returns.
Advantages of owning a property for sale in Andalusia
When choosing to buy a property for sale in Andalusia you are offered a variety of options such as villas, apartments, country houses (fincas), farm houses (cortijos), etc., with prices varying depending on your choice. The Andalusian people are popular for their hospitality, fun, loyalty and overall good nature. Andalusia is the world's largest producer of olive oil and is well-known for its fish and sea food.
Owning a property in Andalusia can guarantee sport facilities like, diving, sailing, fishing, wind-surfing, motorcycling and hunting. Andalusia has one of the best international airports in the world and important ports. It also has improved railroads, which makes the links better between big cities. Andalusia boasts of being one of the warmest regions in Europe, with 3000 hours of sun per year.
Buying a property for sale in Andalusia - some hints
More than one visit to the proposed property and its surroundings before buying is advisable. Schedules of trains, public buses, trams etc. Silence and privacy are important factors to keep in mind. The property for sale in Andalusia should include some type of heating for weather changes. Ask around to get a personal opinion from some of the people living near the property. Be better informed. Spanish property remains the favourite investment market for overseas property buyers.
Article Source: http://www.superfeature.com
Payday Loans – How To Choose A Lender By: Gregg Pennington
Most of us have experienced a minor crisis which called for immediate cash. If you have been in this position you may have considered taking out a payday loan, also known as a cash advance or paycheck loan. It's a well known fact that these loans feature steep finance charges, obligating the borrower to repay the debt at an annualized interest rate of over 900%. Because of the high cost of this form of borrowing, payday loans should only be used as a last resort. Using them frequently can trap a person in a dangerous cycle of debt.
If you decide on a cash advance loan you have a number of options. To the dismay of many lawmakers, this form of lending has proliferated throughout the US and Canada, and those who don't have local access to a lender can easily find one online. In fact, your online payday loan options are so abundant that you may have some difficulty in settling upon a lender. The following are some unique features of payday loans, and a few guidelines to follow when getting one.
Exactly how high are the finance charges? A typical $250 payday loan carries finance charges from about $40 to $75, which translates into an APR of 400% to 800%. Not much of a bargain, but you can find significant differences from lender to lender.
One criteria you can use to compare payday loan companies is the maximum amount they will lend. The minimum amount is normally around $200, with the upper limit being somewhere around $2000. The precise amount will be determined by several factors including your income and work history. In many cases you will be able to increase the maximum amount for which you are eligible by building a history with the lender. Take care not to borrow more than you can afford to repay on the specified date, or you will incur even more finance charges.
How quickly will you receive your money? If you get the cash advance in person at a local establishment, you will have the cash as soon as you are approved. Online lenders take slightly longer, with the next business day being the norm. Some companies offer money wired into your account on the same business day provided you receive approval before a certain time, for instance 2:00 pm. You will probably pay more in fees for same-day service.
The minimum monthly income requirement for a payday loan can be as low as $800, not a big issue for most full time workers. Most lenders will not run a credit check; however, many of them use some type of tracking service that verifies identity and other information given by the loan applicant.
What if you are self employed or living on a fixed income like a pension or social security? Not all lenders will extend credit for this type of income, but you can find one with some persistence. In the event that you receive some non-traditional form of income that you want considered, the lender will verify the income by looking at your bank statements.
Do you happen to have access to a fax machine? With many payday loan companies, you won't need it. "No Fax" lenders are the norm these days. While some lenders may require you to fax proof of income, most of the time everything can be verified online, saving valuable time in getting your money which can be deposited directly into your checking or savings account.
In the event you cannot pay off the cash advance on your next payday, most lenders will allow you to roll over the balance several times. Beware of doing this at all costs, as the already expensive finance charges can multiply quickly and make the loan even more difficult to repay.
Despite opposition from a number of lawmakers, the payday loan industry is booming. These "lenders of last resort" provide a needed service for a growing segment of the population- low to middle income workers who have difficulty obtaining more traditional loans because of their credit history and income level. Before you choose a payday loan, investigate any and all other sources of funding available. Choose a lender that has been in business for at least several years and is up front about all of their fees and policies. Don't make a practice of using the loans regularly, and try to avoid extending loans beyond the initial repayment period. Finally, work to improve your credit score so that if financial difficulties arise in the future you will have a less expensive way to deal with them.
Article Source: http://www.superfeature.com
If you decide on a cash advance loan you have a number of options. To the dismay of many lawmakers, this form of lending has proliferated throughout the US and Canada, and those who don't have local access to a lender can easily find one online. In fact, your online payday loan options are so abundant that you may have some difficulty in settling upon a lender. The following are some unique features of payday loans, and a few guidelines to follow when getting one.
Exactly how high are the finance charges? A typical $250 payday loan carries finance charges from about $40 to $75, which translates into an APR of 400% to 800%. Not much of a bargain, but you can find significant differences from lender to lender.
One criteria you can use to compare payday loan companies is the maximum amount they will lend. The minimum amount is normally around $200, with the upper limit being somewhere around $2000. The precise amount will be determined by several factors including your income and work history. In many cases you will be able to increase the maximum amount for which you are eligible by building a history with the lender. Take care not to borrow more than you can afford to repay on the specified date, or you will incur even more finance charges.
How quickly will you receive your money? If you get the cash advance in person at a local establishment, you will have the cash as soon as you are approved. Online lenders take slightly longer, with the next business day being the norm. Some companies offer money wired into your account on the same business day provided you receive approval before a certain time, for instance 2:00 pm. You will probably pay more in fees for same-day service.
The minimum monthly income requirement for a payday loan can be as low as $800, not a big issue for most full time workers. Most lenders will not run a credit check; however, many of them use some type of tracking service that verifies identity and other information given by the loan applicant.
What if you are self employed or living on a fixed income like a pension or social security? Not all lenders will extend credit for this type of income, but you can find one with some persistence. In the event that you receive some non-traditional form of income that you want considered, the lender will verify the income by looking at your bank statements.
Do you happen to have access to a fax machine? With many payday loan companies, you won't need it. "No Fax" lenders are the norm these days. While some lenders may require you to fax proof of income, most of the time everything can be verified online, saving valuable time in getting your money which can be deposited directly into your checking or savings account.
In the event you cannot pay off the cash advance on your next payday, most lenders will allow you to roll over the balance several times. Beware of doing this at all costs, as the already expensive finance charges can multiply quickly and make the loan even more difficult to repay.
Despite opposition from a number of lawmakers, the payday loan industry is booming. These "lenders of last resort" provide a needed service for a growing segment of the population- low to middle income workers who have difficulty obtaining more traditional loans because of their credit history and income level. Before you choose a payday loan, investigate any and all other sources of funding available. Choose a lender that has been in business for at least several years and is up front about all of their fees and policies. Don't make a practice of using the loans regularly, and try to avoid extending loans beyond the initial repayment period. Finally, work to improve your credit score so that if financial difficulties arise in the future you will have a less expensive way to deal with them.
Article Source: http://www.superfeature.com
Overview of the Spanish Mortgage Market By: Steven Magill
Here's the new ruling! Even if you own property in Spain but don't live in Spain you will have to pay taxes on your property in Spain as if you were living there. This is just one of the many tax rules that have come into play recently and is causing the off shore owners of property in Spain to consider whether it is lucrative to keep their property in Spain. These rules came into effect as of January 1st 2007 and are proving to be a challenge to those property owners who don't live in Spain.
While certain changes give the property owners who don't live in Spain a little break on taxes owed at the close of a sale, others are not quite as forgiving. There is a tax increase of 25 to 30% for companies owning property in Spain who would purchase and resell within a year, which would make the most avid investor cringe. Here are some items of importance concerning these new tax rules:
An amnesty/transition period for companies owning property in Spain to close and acquire their assets is one solution for dodging the tax bullet. Offshore companies who have primary property in Spain will now be considered as a resident and will be taxed accordingly. The CGT fell from 35% to 18% - a good thing for non residents If you plan to purchase property in Spain simply purchase it in your name rather than a company name While some taxes are increased, others are decreased. Nobody likes to pay more taxes than what is absolutely required. Taking into account the number of wars and other violent acts that have been spawned by over-taxation, these law makers will do their best to make taxation as fair as it can be for both the very wealthy and the less than fortunate property owner in Spain.
The desired result that the European Commission is seeking with regard to the non-resident owner of property in Spain is that they will have to pay the same tax upon the sale of said property as a resident would.
Incentive to own property in Spain and live there as well:
One relief that residents have as property owners is that they don't have to pay any tax on profits made from the sale of their primary residence as long as the profits are put towards their next primary residence. If property was purchased after 12/31/1994 previously determined capital gain will be reduced by 11.11% for each year after the first two that the property in Spain is owned by the resident in Spain. It is still the same idea that has held true through time; the man who works hard will have something to show for it in the end. This includes owning property in Spain. Thus, do not let taxes deter you from investing in this beautiful land.
Article Source: http://www.superfeature.com
While certain changes give the property owners who don't live in Spain a little break on taxes owed at the close of a sale, others are not quite as forgiving. There is a tax increase of 25 to 30% for companies owning property in Spain who would purchase and resell within a year, which would make the most avid investor cringe. Here are some items of importance concerning these new tax rules:
An amnesty/transition period for companies owning property in Spain to close and acquire their assets is one solution for dodging the tax bullet. Offshore companies who have primary property in Spain will now be considered as a resident and will be taxed accordingly. The CGT fell from 35% to 18% - a good thing for non residents If you plan to purchase property in Spain simply purchase it in your name rather than a company name While some taxes are increased, others are decreased. Nobody likes to pay more taxes than what is absolutely required. Taking into account the number of wars and other violent acts that have been spawned by over-taxation, these law makers will do their best to make taxation as fair as it can be for both the very wealthy and the less than fortunate property owner in Spain.
The desired result that the European Commission is seeking with regard to the non-resident owner of property in Spain is that they will have to pay the same tax upon the sale of said property as a resident would.
Incentive to own property in Spain and live there as well:
One relief that residents have as property owners is that they don't have to pay any tax on profits made from the sale of their primary residence as long as the profits are put towards their next primary residence. If property was purchased after 12/31/1994 previously determined capital gain will be reduced by 11.11% for each year after the first two that the property in Spain is owned by the resident in Spain. It is still the same idea that has held true through time; the man who works hard will have something to show for it in the end. This includes owning property in Spain. Thus, do not let taxes deter you from investing in this beautiful land.
Article Source: http://www.superfeature.com
Mortgage Acceleration on NBC By: Marc Rosenbaum
A big buzz was created recently as the concept of mortgage acceleration gains more momentum. NBC News channel 3 in Las Vegas ran a 4 minute piece on their "Saving You Money, Watching Out for You" segment, and were focused on one man who has been using the mortgage acceleration software.
The man was clearly excited about the way things are going with his customized software, and states that he will paying off his mortgage in a little over 5 years. He states that it is simple to use and when asked to explain how it works he said, "It is easier to do than it is to explain. It just works."
The software he is using is a new way of managing your money. You "merge" your typical checking account with a Home Equity Line Of Credit, or heloc as they are called in the banking world. This heloc then drives the proprietary software which instructs you as to when and how much money to apply to your first mortgage. Rapid paydown occurs at various times based on your specific financial rhythm.
Mortgages charge you compounded interest based on the balance at month's end. You pay mostly interest and very little principle for many years at the beginning of the loan term, resulting in huge gains for the lender. So, if they are winning big by you paying more than double for your home, that means you are losing.
A heloc has an "open ended" interest stucture which is very different than a mortgage. Helocs can only charge you interest on the average daily balance in the account. You can effect the average daily balance in a substantial way by depositing your income into your heloc. You may be just beginning to understand how this new account can create financial leverage. As your income cancels interest in your heloc, it becomes possible to borrow money from the credit line and pay very little interest on it. When this money is applied to the principle on the mortgage, amazing things begin to happen.
The software knows exactly when and exactly how much money to apply to the debt. You don't have to adjust your budget or lifestyle either. You don't refinance or compromise your debt. You pay it off. It's not magic, it's math. It is math that most people don't have the time or talent to do. All you do is update the program with your deposits and expenses, and it does all the rest.
This citizen of Vegas was thrilled with the idea of being debt free in about 5 years instead of twenty or thirty. Both the mortgage and the heloc will have zero balances. Who wouldn't be happy with that?
At the end of the news segment, the reporter claimed that indeed the program was for real and that it DID work, and in fact three of them in the studio have been on the software since February and were very happy with the results.
The company that developed the software is trying to get authorization from NBC to place the news spot on their websites, but for the time being the spot can be shared by independent agents via email.
When contacted, a Branch Manager with the company said that thousands of Americans are now using the software and paying off their mortgages and other debts in ½ to 1/3 the time as compared to the traditional payoff methods. "It's been a Godsend for me, and I have had clients break down and cry when they see what we can do for them. They can finally see financial freedom within their grasp."
KVBC News 3 in Las Vegas is now working on a special report where they will go in depth to this rapidly growing area of mortgage accelerators. Stay tuned.
Article Source: http://www.superfeature.com
The man was clearly excited about the way things are going with his customized software, and states that he will paying off his mortgage in a little over 5 years. He states that it is simple to use and when asked to explain how it works he said, "It is easier to do than it is to explain. It just works."
The software he is using is a new way of managing your money. You "merge" your typical checking account with a Home Equity Line Of Credit, or heloc as they are called in the banking world. This heloc then drives the proprietary software which instructs you as to when and how much money to apply to your first mortgage. Rapid paydown occurs at various times based on your specific financial rhythm.
Mortgages charge you compounded interest based on the balance at month's end. You pay mostly interest and very little principle for many years at the beginning of the loan term, resulting in huge gains for the lender. So, if they are winning big by you paying more than double for your home, that means you are losing.
A heloc has an "open ended" interest stucture which is very different than a mortgage. Helocs can only charge you interest on the average daily balance in the account. You can effect the average daily balance in a substantial way by depositing your income into your heloc. You may be just beginning to understand how this new account can create financial leverage. As your income cancels interest in your heloc, it becomes possible to borrow money from the credit line and pay very little interest on it. When this money is applied to the principle on the mortgage, amazing things begin to happen.
The software knows exactly when and exactly how much money to apply to the debt. You don't have to adjust your budget or lifestyle either. You don't refinance or compromise your debt. You pay it off. It's not magic, it's math. It is math that most people don't have the time or talent to do. All you do is update the program with your deposits and expenses, and it does all the rest.
This citizen of Vegas was thrilled with the idea of being debt free in about 5 years instead of twenty or thirty. Both the mortgage and the heloc will have zero balances. Who wouldn't be happy with that?
At the end of the news segment, the reporter claimed that indeed the program was for real and that it DID work, and in fact three of them in the studio have been on the software since February and were very happy with the results.
The company that developed the software is trying to get authorization from NBC to place the news spot on their websites, but for the time being the spot can be shared by independent agents via email.
When contacted, a Branch Manager with the company said that thousands of Americans are now using the software and paying off their mortgages and other debts in ½ to 1/3 the time as compared to the traditional payoff methods. "It's been a Godsend for me, and I have had clients break down and cry when they see what we can do for them. They can finally see financial freedom within their grasp."
KVBC News 3 in Las Vegas is now working on a special report where they will go in depth to this rapidly growing area of mortgage accelerators. Stay tuned.
Article Source: http://www.superfeature.com
Low Interest Credit Card– Is That What You Want? By: Angelknight
Most consumers only look for low interest credit cards when they are searching for a credit card. The credit card companies also advertise low interest credit cards far more that any other kind of credit card. Still, it is important to ask yourself, when applying for a credit card, should a low interest credit card be the only card to hunt for when searching for a credit card? In many cases, the low interest credit card is exactly what is needed, however, that is not true for all credit card seekers, although it still is a good plan to have a low interest card as a handy secondary financial tool for emergency purchases and cash advances.
Let us endeavor to know what is important about the APR (annual percentage rate). APR is the interest rate that credit card companies use, to calculate the amount of money,they are going to charge you, for using your credit card and carrying an unpaid monthly balance. If you have purchases or a cash advance and owe money on your credit card at your monthly credit card bill due date; you will have to pay the credit card issuers a portion of the amount you borrowed, in purchases or cash advances, plus the fees which the card issuers have applied to your account. You pay no interest amount if you pay in full, your account's dollar balance, by the credit card acount's monthly due date.
So, as you can see, consumers who are not able to pay their full balance monthly, should probably seek a low interest credit card. By getting and using a low interest credit card, users of the card will save money by paying a decreased interest amount, over the time period that they carry a positive credit card balance. Saving of money using a low interest credit card makes that kind of card important to people who have to carry a monthly balance on their credit card.
There are other groups of people who don’t really need a low interest credit card. These consumers pay their credit card bill in full every month. They mostly use a credit card for convenience and other card benefits, such as cash back, travel rewards, purchase discounts and so on. So,if it is a low interest credit card or high interest card it does not mean much to them.
The need for a low interest credit card is more important for people who intend to carry a monthly balance. Still those consumers should compare the various low interest credit cards to decide which card is the best to fulfill their financial needs.
There is a need to determine whether you need a low interest credit card or not. If you decide that you do want or need a low interest credit card, make sure you choose the one that is right for you. Choosing the correct credit card today, may save you a great deal of money on future card purchases and cash advances.
Article Source: http://www.superfeature.com
Let us endeavor to know what is important about the APR (annual percentage rate). APR is the interest rate that credit card companies use, to calculate the amount of money,they are going to charge you, for using your credit card and carrying an unpaid monthly balance. If you have purchases or a cash advance and owe money on your credit card at your monthly credit card bill due date; you will have to pay the credit card issuers a portion of the amount you borrowed, in purchases or cash advances, plus the fees which the card issuers have applied to your account. You pay no interest amount if you pay in full, your account's dollar balance, by the credit card acount's monthly due date.
So, as you can see, consumers who are not able to pay their full balance monthly, should probably seek a low interest credit card. By getting and using a low interest credit card, users of the card will save money by paying a decreased interest amount, over the time period that they carry a positive credit card balance. Saving of money using a low interest credit card makes that kind of card important to people who have to carry a monthly balance on their credit card.
There are other groups of people who don’t really need a low interest credit card. These consumers pay their credit card bill in full every month. They mostly use a credit card for convenience and other card benefits, such as cash back, travel rewards, purchase discounts and so on. So,if it is a low interest credit card or high interest card it does not mean much to them.
The need for a low interest credit card is more important for people who intend to carry a monthly balance. Still those consumers should compare the various low interest credit cards to decide which card is the best to fulfill their financial needs.
There is a need to determine whether you need a low interest credit card or not. If you decide that you do want or need a low interest credit card, make sure you choose the one that is right for you. Choosing the correct credit card today, may save you a great deal of money on future card purchases and cash advances.
Article Source: http://www.superfeature.com
Joint Bank Accounts - finding your way around the bank account jungle By: Katie Brown
Nearly one in three (31%) of singletons pledge to remain financially independent in their next relationship and have no plans to sacrifice their autonomy by opening a joint account, according to research released today by Alliance & Leicester Current Accounts.
In fact, only 3% of singletons would choose to close their own account and share their finances with their future partner. Well over half (56%) say they would prefer to keep their options open in their next relationship - with money both in a joint account and in a separate account in their own name.
Couples retain their independence
While couples might be committed to one another, many are far from committed when it comes to their finances, with more than one in four couples (28%) opting not to have a joint account and insisting on keeping their money separate.
Nearly one in ten (8%) people in a relationship don't trust their partner enough to share their finances.
Nearly one in five (17%) of couples admit that having joint finances would lead to arguments.
Forty one percent of have never even discussed the subject and chose to remain financially independent of one another.
Women are particularly keen to assert their financial independence
Nearly half (42%) of women in a relationship, say financial independence is important for them - compared to just one in four (24%) men.
Almost half (47%) of women also believe they are better than their partner at keeping their finances under control.
Nearly one in four (23%) men think that women really are the ‘better half' and readily admit they are much more financially astute.
Not that many couples are good at keeping track of their cash:
Nearly one in six (16%) couples admit to not knowing the current balance of their joint account.
One in ten (10%) say they can guess - but estimate it would be out by at least £200.
The tendency to stick with the same account rather than option for one with more suitable facilities, in some case for up to twenty years has resulted in around forty one percent of couple failing to keep their finances in good order.
It is no surprise to see that many people wish to maintain their financial independence. It would appear that many couple remain uncomfortable discussing their financial issues.
There are benefits of having both independent and joint accounts. It's always worth couples shopping around to make sure the account they opt for matches today's competitive deals. When it comes to shopping for a better bank account, there is a large level of inertia preventing the general pollution from doing so."
Article Source: http://www.superfeature.com
In fact, only 3% of singletons would choose to close their own account and share their finances with their future partner. Well over half (56%) say they would prefer to keep their options open in their next relationship - with money both in a joint account and in a separate account in their own name.
Couples retain their independence
While couples might be committed to one another, many are far from committed when it comes to their finances, with more than one in four couples (28%) opting not to have a joint account and insisting on keeping their money separate.
Nearly one in ten (8%) people in a relationship don't trust their partner enough to share their finances.
Nearly one in five (17%) of couples admit that having joint finances would lead to arguments.
Forty one percent of have never even discussed the subject and chose to remain financially independent of one another.
Women are particularly keen to assert their financial independence
Nearly half (42%) of women in a relationship, say financial independence is important for them - compared to just one in four (24%) men.
Almost half (47%) of women also believe they are better than their partner at keeping their finances under control.
Nearly one in four (23%) men think that women really are the ‘better half' and readily admit they are much more financially astute.
Not that many couples are good at keeping track of their cash:
Nearly one in six (16%) couples admit to not knowing the current balance of their joint account.
One in ten (10%) say they can guess - but estimate it would be out by at least £200.
The tendency to stick with the same account rather than option for one with more suitable facilities, in some case for up to twenty years has resulted in around forty one percent of couple failing to keep their finances in good order.
It is no surprise to see that many people wish to maintain their financial independence. It would appear that many couple remain uncomfortable discussing their financial issues.
There are benefits of having both independent and joint accounts. It's always worth couples shopping around to make sure the account they opt for matches today's competitive deals. When it comes to shopping for a better bank account, there is a large level of inertia preventing the general pollution from doing so."
Article Source: http://www.superfeature.com
It Just May Be Time To Get A Credit Card By: Angelknight
Are you deciding whether you should get a credit card Well, to be frank, if you are like most of us, living in the western world, the answer to, should I get a credit card is, yes. Credit cards have changed our lives. In fact, credit cards are a contemporary, commercial revolution. No matter, and almost anywhere you go you find advertising on TV and websites, in newspapers and stores requesting you to apply for a credit card. Also, if you observe others around you, you will see that most people have credit cards. As a matter of fact, most people have more than one credit card. Nearly every adult and young adult applies for a credit card. So, maybe you should you apply for a credit card as well.
You will have to admit, if you cogitate about it, there are a lot of benefits associated with credit cards. Seemingly, the most significant benefit a credit card gives is convenience. For most people, convenience is the first reason they apply for a credit card. Two decades, or more ago, when not many merchants accepted credit cards, that was not true. These days, it is hard to find a merchant who does not accept credit cards. Now, rather than carrying cash on you - which is rarely convenient or safe - you may carry a small piece of financially, high powered, plastic. Now, you can get an interest free loan until the next monthly billing cycle. Also, you can buy now and pay later - when you are setup financially to do so. That in itself is a great reason to get a credit card. Added to that, some merchants offer interest free monthly payment plans, making it easier for you to make a big purchase now and pay for it in monthly installments. So, as you can see, credit cards work as an immediate long term loan as well and not only as a monthly loan. Other reasons to get a credit card are free rewards and shopping discounts for using your card. This is made possible by the connection between credit card companies and merchants. For certain, credit cards offer many benefits.
There are a several ways to apply for a credit card. You may choose to get a credit card by mail, in person, on the internet or, by phone. Quite often, you will, as such, be approached by sales representatives, who will request you to apply for a credit card with their organization. When applying for a credit card, you must fill-in a card application form (which is easy to fill-in). When you apply for a credit card and fill-in an application form, you are entering into a formal agreement with the credit card issuer, basically stating you will upholdyou side of the agreement, which is to pay your monthly credit card bill, on time. Once you have submitted your application, the credit card company makes credibility checks into your financial record and if everything is fine, you receive a credit card.
The process of applying for a credit card is easy, however, you may or may not desire a credit card, it is a matter of personal choice. Still, for most people who don't have a credit card yet, the recommendation is, for greater financial power and assurance, get a credit card, today.
Article Source: http://www.superfeature.com
You will have to admit, if you cogitate about it, there are a lot of benefits associated with credit cards. Seemingly, the most significant benefit a credit card gives is convenience. For most people, convenience is the first reason they apply for a credit card. Two decades, or more ago, when not many merchants accepted credit cards, that was not true. These days, it is hard to find a merchant who does not accept credit cards. Now, rather than carrying cash on you - which is rarely convenient or safe - you may carry a small piece of financially, high powered, plastic. Now, you can get an interest free loan until the next monthly billing cycle. Also, you can buy now and pay later - when you are setup financially to do so. That in itself is a great reason to get a credit card. Added to that, some merchants offer interest free monthly payment plans, making it easier for you to make a big purchase now and pay for it in monthly installments. So, as you can see, credit cards work as an immediate long term loan as well and not only as a monthly loan. Other reasons to get a credit card are free rewards and shopping discounts for using your card. This is made possible by the connection between credit card companies and merchants. For certain, credit cards offer many benefits.
There are a several ways to apply for a credit card. You may choose to get a credit card by mail, in person, on the internet or, by phone. Quite often, you will, as such, be approached by sales representatives, who will request you to apply for a credit card with their organization. When applying for a credit card, you must fill-in a card application form (which is easy to fill-in). When you apply for a credit card and fill-in an application form, you are entering into a formal agreement with the credit card issuer, basically stating you will upholdyou side of the agreement, which is to pay your monthly credit card bill, on time. Once you have submitted your application, the credit card company makes credibility checks into your financial record and if everything is fine, you receive a credit card.
The process of applying for a credit card is easy, however, you may or may not desire a credit card, it is a matter of personal choice. Still, for most people who don't have a credit card yet, the recommendation is, for greater financial power and assurance, get a credit card, today.
Article Source: http://www.superfeature.com
In Spain What is Comunidad de Properietarios? By: Steven Magill
Comunidad de propietarios is the community of property owners. Properties located in a development, known as "urbanisations" in Spain, usually share communal facilities such as gardens and services such as those of a maintenance person. All new urbanisations are the responsibility of the promoter / builder until they are all completed and sold. The responsibility is then transferred to the comunidad de propietarios, which you automatically join when you buy your property in Spain. Legal status is given by Spanish law to this community so that it can regulate the joint ownership of common property e.g. gardens, pools etc On completion of your property, you are notified and invited to attend a meeting to formally transfer the responsibility of general upkeep of the collective properties to a newly formed community of owners. Someone must be elected as President and another as Vice President from the group of owners. At this time an administrator is also elected. However, it is common practice to use the administrator put in place by the developer for the first year. The administrator and the committee members handle the day to-day business of the community. They only call meetings when matters arise. The committee is annually elected. Annual meetings are held, during which a budget is approved by the Owners covering the expenses for the year. This budget is then divided between owners depending on the percentage contribution for each property as set out in the title deeds. The apartment owners tend to pay a higher community fee than the house owners. For example: In an urbanisation owners of a two bedroom first floor apartment pay 180 euros per quarter, whereas the owners of a three-bed roomed town house pay just 55 euros per quarter. The reasoning behind this is that the areas around apartments incur more expenses e.g. stairwell cleaning and lighting, lift maintenance, garage cleaning and maintenance etc. There are numerous factors to be considered when dividing up the cost of community fees:
The number of apartments that share a block. The more there are to share the cost the lower the rate. The higher you go the more you pay and you may also be charged more for enjoying a view! The total number of properties in an urbanisation. The size of a development (total area). There have been reports in the media highlighting unfair cases. When a development consists of many phases, owners of completed phases were expected to temporarily subsidise the community fees of the uncompleted phases. When investigated the reasons given were that the green areas, the pools etc which are intended for the entire use of the development still need to be maintained. Basura – Rubbish Collecting The Town Hall will also make a charge for the Rubbish collection (Basura) from your property or development. This can be charged annually or quarterly depending on the Municipality in which you are purchasing the property. This may be included in your community fees it is worthwhile you asking about this. Tratamiento de Residuos - Recycling Tax In certain municipalities, there is an annual charge for the Recycling Tax. This covers the recycling of waste from the numerous glass, paper, and battery banks that are distributed throughout the area. This may be included within the Community fee it is worth finding out. Electricity & Water Most properties have electricity and water meters and you will be charged according to the amount of each consumed. Some communities will only have one meter for the whole development and therefore include the water in the Community Fees. Title Deeds (escritura) The percentage of the budget that each property pays is determined by the developer and is set out in the (escritura) The Community fees are normally paid quarterly or twice a year. Expenses vary according to services required and include salaries and social security for those employed by the community (gardeners, pool attendants, hall porters etc), repairs, electricity for the lighting of common areas, administration fees.
Payment of Fees. The payment date is set by the members at the Annual General Meeting and every owner must pay their community fees on the agreed date. If any of the members fail to pay the community fees, the President or the Administrator may claim the debt in the Court of First Instance from the city, and even have the property sold at auction to recover unpaid charges. Always ask questions. This information will enable you to get the most out of your property. Ensure that you ask about the community fees and find out exactly what is included. Or are there any hidden extras? So before you purchase your off-plan property, enquire about the expected community fees and use this article as a tick list.
Article Source: http://www.superfeature.com
The number of apartments that share a block. The more there are to share the cost the lower the rate. The higher you go the more you pay and you may also be charged more for enjoying a view! The total number of properties in an urbanisation. The size of a development (total area). There have been reports in the media highlighting unfair cases. When a development consists of many phases, owners of completed phases were expected to temporarily subsidise the community fees of the uncompleted phases. When investigated the reasons given were that the green areas, the pools etc which are intended for the entire use of the development still need to be maintained. Basura – Rubbish Collecting The Town Hall will also make a charge for the Rubbish collection (Basura) from your property or development. This can be charged annually or quarterly depending on the Municipality in which you are purchasing the property. This may be included in your community fees it is worthwhile you asking about this. Tratamiento de Residuos - Recycling Tax In certain municipalities, there is an annual charge for the Recycling Tax. This covers the recycling of waste from the numerous glass, paper, and battery banks that are distributed throughout the area. This may be included within the Community fee it is worth finding out. Electricity & Water Most properties have electricity and water meters and you will be charged according to the amount of each consumed. Some communities will only have one meter for the whole development and therefore include the water in the Community Fees. Title Deeds (escritura) The percentage of the budget that each property pays is determined by the developer and is set out in the (escritura) The Community fees are normally paid quarterly or twice a year. Expenses vary according to services required and include salaries and social security for those employed by the community (gardeners, pool attendants, hall porters etc), repairs, electricity for the lighting of common areas, administration fees.
Payment of Fees. The payment date is set by the members at the Annual General Meeting and every owner must pay their community fees on the agreed date. If any of the members fail to pay the community fees, the President or the Administrator may claim the debt in the Court of First Instance from the city, and even have the property sold at auction to recover unpaid charges. Always ask questions. This information will enable you to get the most out of your property. Ensure that you ask about the community fees and find out exactly what is included. Or are there any hidden extras? So before you purchase your off-plan property, enquire about the expected community fees and use this article as a tick list.
Article Source: http://www.superfeature.com
Identity Theft PROOF in 60 Minutes or Less (Part 1 of 2) By: Sean Matteson
According to the FBI, identity theft is "The fastest growing crime in America." As many as 10 million Americans every year are victimized by it and the costs are estimated at 50 billion dollars annually. Many criminals get off easy while the victims spend years working to restore their damaged credit reports and reputations. Worse yet, there seems to be no end in sight.
"The popularity of the crime is simply growing faster than the solutions to stop it" many experts conclude. The task of recovery is so time consuming and tedious, multiple states have resorted to creating "Identity Theft Passports" for victims in an attempt to ease the pain for them as they endure the lengthy and frustrating clean up process.
By the end of this article I will share with you the secrets of making yourself virtually identity theft proof in 60 minutes or less (for free). I use the term "secrets" because less than 1% of the country are aware of these techniques (let alone practicing them).
If Americans took these preventative steps up to 99% of all identity theft would be eliminated. However, "why" this beneficial approach is not being made common knowledge in the mainstream media is something I will not disclose in this article (more on that another time). For the moment I believe the biggest crime one can commit is to not share this information with their friends and family (by the end of this article you will understand why).
Unlike other authors covering this subject I will not insult your intelligence by sharing common sense tips like "Don't carry your SSN Card or ATM PIN# in your wallet or purse" or "Keep all data sensitive documents like credit card and bank statements locked up in your home or office". This is elementary advice at best. The key to protecting yourself from identity theft is to look at what the masses are doing and then do the opposite (to say the least).
Almost 70% of Americans are now shredding all their mail and documents and many are even subscribing to credit monitoring services or buying identity theft insurance in an attempt to protect themselves from becoming victims. While this is better than doing nothing it's a far cry from TRUE security.
Study The Past To Predict The Future
Contrary to popular belief statistics show the majority of identity theft does NOT result from the internet as most consumers have been led to believe. In fact, less than 10% of identity theft cases (where data compromise can be determined) originated online. Consumers themselves are the ones detecting the breaches almost 50% of the time. In nearly 40% of cases the criminal was someone who was in close contact with the victim (friend, relative, neighbor, coworker, in-home employee, waiter/waitress or financial institution employee). In then end, nearly one third of identity theft cases come from a stolen wallet/purse, checkbook or credit card.
More interesting, the age of the primary victim has lowered. If you are between the age of 25 to 34 you are now the largest target for the crime (65+ has become the smallest). The bad news is that while identity theft nationwide is on the decline (8.9 million victims last year down from 9.3 million in 2005) the dollar amount per victim is going up ($6,383 last year, up from $5,885 in 2005) and so are the number of hours victims spend cleaning up the mess (40+ hours last year, up from 28 hours in 2005).
We've all heard the saying "An ounce of prevention is worth a pound of cure". Yet, no one is practicing it in the pandemic of identity theft. Credit monitoring is nice but only 11% of consumers ever catch identity theft through this means. Identity Theft Insurance (according to many experts) is even more of a hoax. A product marketed by playing on the fears of American consumers which does nothing more than assist them in cleaning up the mess only AFTER their identity has been stolen.
A Different Approach
The following is a completely different approach to preventing and protecting yourself from identity theft. It is based on the reality that we live in a world now where there is zero privacy of personal data. Meaning that your name, address, phone number, social security number, date of birth (even your mothers maiden name) can be obtained by ANYONE for a fee.
If you're one who feels this is paranoid thinking let me tell you about Amy Boyer. In 1999 Miss Boyer had an old high school classmate (Liam Youens) come back into her life many years later. Mr. Youens got a hold of Amy's social security number and other personal info after paying Docusearch Inc. $150. After Youens shot Miss Boyer to death he then turned the gun on himself. Today the company tells visitors to its website that "not all searches are available to the public" and some are reserved for the investigative and legal industry. How about that for homeland security?
With this "different" approach we break down identity theft into two distinct categories. 1.) Basic Identity Theft, and 2.) Credit Hijacking. By definition "Basic Identity Theft" is when the perpetrator steals your identity and then uses it to obtain NEW credit accounts for their personal gain. "Credit Hijacking" falls under a criminal stealing your identity in order to access and use your EXISTING credit accounts. Each type of fraud is different and therefore so is your plan of defense.
Article Source: http://www.superfeature.com
"The popularity of the crime is simply growing faster than the solutions to stop it" many experts conclude. The task of recovery is so time consuming and tedious, multiple states have resorted to creating "Identity Theft Passports" for victims in an attempt to ease the pain for them as they endure the lengthy and frustrating clean up process.
By the end of this article I will share with you the secrets of making yourself virtually identity theft proof in 60 minutes or less (for free). I use the term "secrets" because less than 1% of the country are aware of these techniques (let alone practicing them).
If Americans took these preventative steps up to 99% of all identity theft would be eliminated. However, "why" this beneficial approach is not being made common knowledge in the mainstream media is something I will not disclose in this article (more on that another time). For the moment I believe the biggest crime one can commit is to not share this information with their friends and family (by the end of this article you will understand why).
Unlike other authors covering this subject I will not insult your intelligence by sharing common sense tips like "Don't carry your SSN Card or ATM PIN# in your wallet or purse" or "Keep all data sensitive documents like credit card and bank statements locked up in your home or office". This is elementary advice at best. The key to protecting yourself from identity theft is to look at what the masses are doing and then do the opposite (to say the least).
Almost 70% of Americans are now shredding all their mail and documents and many are even subscribing to credit monitoring services or buying identity theft insurance in an attempt to protect themselves from becoming victims. While this is better than doing nothing it's a far cry from TRUE security.
Study The Past To Predict The Future
Contrary to popular belief statistics show the majority of identity theft does NOT result from the internet as most consumers have been led to believe. In fact, less than 10% of identity theft cases (where data compromise can be determined) originated online. Consumers themselves are the ones detecting the breaches almost 50% of the time. In nearly 40% of cases the criminal was someone who was in close contact with the victim (friend, relative, neighbor, coworker, in-home employee, waiter/waitress or financial institution employee). In then end, nearly one third of identity theft cases come from a stolen wallet/purse, checkbook or credit card.
More interesting, the age of the primary victim has lowered. If you are between the age of 25 to 34 you are now the largest target for the crime (65+ has become the smallest). The bad news is that while identity theft nationwide is on the decline (8.9 million victims last year down from 9.3 million in 2005) the dollar amount per victim is going up ($6,383 last year, up from $5,885 in 2005) and so are the number of hours victims spend cleaning up the mess (40+ hours last year, up from 28 hours in 2005).
We've all heard the saying "An ounce of prevention is worth a pound of cure". Yet, no one is practicing it in the pandemic of identity theft. Credit monitoring is nice but only 11% of consumers ever catch identity theft through this means. Identity Theft Insurance (according to many experts) is even more of a hoax. A product marketed by playing on the fears of American consumers which does nothing more than assist them in cleaning up the mess only AFTER their identity has been stolen.
A Different Approach
The following is a completely different approach to preventing and protecting yourself from identity theft. It is based on the reality that we live in a world now where there is zero privacy of personal data. Meaning that your name, address, phone number, social security number, date of birth (even your mothers maiden name) can be obtained by ANYONE for a fee.
If you're one who feels this is paranoid thinking let me tell you about Amy Boyer. In 1999 Miss Boyer had an old high school classmate (Liam Youens) come back into her life many years later. Mr. Youens got a hold of Amy's social security number and other personal info after paying Docusearch Inc. $150. After Youens shot Miss Boyer to death he then turned the gun on himself. Today the company tells visitors to its website that "not all searches are available to the public" and some are reserved for the investigative and legal industry. How about that for homeland security?
With this "different" approach we break down identity theft into two distinct categories. 1.) Basic Identity Theft, and 2.) Credit Hijacking. By definition "Basic Identity Theft" is when the perpetrator steals your identity and then uses it to obtain NEW credit accounts for their personal gain. "Credit Hijacking" falls under a criminal stealing your identity in order to access and use your EXISTING credit accounts. Each type of fraud is different and therefore so is your plan of defense.
Article Source: http://www.superfeature.com
How To Decide Whether It Is Worth Claiming On Your Car Insurnace By: Katie Brown
Car insurance is an essential part of motoring – it's a legal requirement for any driver in the UK. At the very least every driver is expected to have third party insurance that covers injuries to others (including passengers) and damage to other people's property. A claim situation would only arise as a claim against you by a third party.
While this is the minimum amount of cover the law expects of you, it doesn't cover very much – for example, if your car is in an accident and gets written off, you would lose the value of your car.
The next step up is third party, fire and theft – essentially the same as third party but with additional cover if your vehicle is set on fire or stolen. Again, this doesn't provide the kind of cover that would protect the money you have invested in your car and any possessions you are carrying.
The most popular cover is fully comprehensive cover – which covers the owner in the event of causing damage to a third party, in the event of fire and theft as well as damage to one's car and the damage, and also the loss or theft of any goods from within the car.
The first step to consider when making any kind of claim on your car insurance is what's covered? The specific details of the policy and the nature of the claim are dictated by the type of cover.
For example, does your insurance include replacement locks? Can you claim for personal possessions and if so what items are covered and to what value?
It's worth noting that many people these days have home contents insurance which covers items carried in your car – check the difference in policy to see which insurance policy is more cost effective to claim with.
There are two primary factors to consider when making a claim – your excess charge and your no-claims bonus.
- Excess
The excess charge is how much you are willing to pay in the event of an accident. Your insurance provider may set a compulsory excess charge or the excess charge may be voluntary – whichever the case, the golden rule is the more excess you are willing to pay the lower your premium.
The excess charge can be a major deciding factor in whether to make a claim or not.
In the hypothetical situation that you have an accident that results in £400 worth of damage, the first £200 would be covered by your excess and the remaining £200 would be covered by the insurance company. If your claim is less than £200 then the insurance company will not pay anything.
So, as long as the claim is more than the excess you should make a claim, right?
Not necessarily – that brings us on to our next major factor:
- No claims bonus
To some people the thought of losing their no-claims bonus is the stuff of nightmares. It's no surprise – some no claims bonus policies can save you 65% on your premium if you have five years or more of no claims.
The particular details of your no-claims bonus vary from policy to policy – with some there is no quarter: if you make a claim, you lose your bonus. With others there is a system of "three strikes and you're out" whereby you are allowed to make two claims within a certain time period but a third would result in your losing your bonus.
There are also protected no claims bonus policies where you can pay an extra premium to protect your no claims bonus so even if you have to make a claim you save money.
Making a claim on your car insurance can become an act of comparing loan and short terms cost against rewards. To make the right decision you need to weigh up, not just the cost of the claim but the effect that claim will have on your premium.
Article Source: http://www.superfeature.com
While this is the minimum amount of cover the law expects of you, it doesn't cover very much – for example, if your car is in an accident and gets written off, you would lose the value of your car.
The next step up is third party, fire and theft – essentially the same as third party but with additional cover if your vehicle is set on fire or stolen. Again, this doesn't provide the kind of cover that would protect the money you have invested in your car and any possessions you are carrying.
The most popular cover is fully comprehensive cover – which covers the owner in the event of causing damage to a third party, in the event of fire and theft as well as damage to one's car and the damage, and also the loss or theft of any goods from within the car.
The first step to consider when making any kind of claim on your car insurance is what's covered? The specific details of the policy and the nature of the claim are dictated by the type of cover.
For example, does your insurance include replacement locks? Can you claim for personal possessions and if so what items are covered and to what value?
It's worth noting that many people these days have home contents insurance which covers items carried in your car – check the difference in policy to see which insurance policy is more cost effective to claim with.
There are two primary factors to consider when making a claim – your excess charge and your no-claims bonus.
- Excess
The excess charge is how much you are willing to pay in the event of an accident. Your insurance provider may set a compulsory excess charge or the excess charge may be voluntary – whichever the case, the golden rule is the more excess you are willing to pay the lower your premium.
The excess charge can be a major deciding factor in whether to make a claim or not.
In the hypothetical situation that you have an accident that results in £400 worth of damage, the first £200 would be covered by your excess and the remaining £200 would be covered by the insurance company. If your claim is less than £200 then the insurance company will not pay anything.
So, as long as the claim is more than the excess you should make a claim, right?
Not necessarily – that brings us on to our next major factor:
- No claims bonus
To some people the thought of losing their no-claims bonus is the stuff of nightmares. It's no surprise – some no claims bonus policies can save you 65% on your premium if you have five years or more of no claims.
The particular details of your no-claims bonus vary from policy to policy – with some there is no quarter: if you make a claim, you lose your bonus. With others there is a system of "three strikes and you're out" whereby you are allowed to make two claims within a certain time period but a third would result in your losing your bonus.
There are also protected no claims bonus policies where you can pay an extra premium to protect your no claims bonus so even if you have to make a claim you save money.
Making a claim on your car insurance can become an act of comparing loan and short terms cost against rewards. To make the right decision you need to weigh up, not just the cost of the claim but the effect that claim will have on your premium.
Article Source: http://www.superfeature.com
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