Wednesday, December 22, 2010

President Obama's First Time Home Buyer Stimulus - Making New Homes Affordable


In an effort to stem the decline in the American economy caused by the 2008 third quarter recession, President Obama and his government has ratified a 2009 economic stimulus plan that will help in many different ways. Everyone has been affected in some way by the most recent financial problems and is having trouble meeting their responsibilities. It was thought that the citizens that were most affected were those who had negotiated a very high interest rate home loan and were now having trouble paying their monthly mortgage bill. The First Time Home Buyer Stimulus was created specifically to help first time homeowners keep their homes by offering easier terms and lowering their interest rate.

When people buy a house, they are not just forming a home; they are making an investment as well. Buying and decorating a home is an emotional journey and involves a lot of sentiment. Many years of work, much planning and a lot of saving precedes the purchase. If, because of financial difficulties, the home is on the brink of foreclosure, the pain is not just about losing a house, but about losing the memories and the hope associated with it. There is very little that matches the emotions involved in a home. The government has formed a package for first time homeowners so they can afford their homes.

These plans have made buying a home easier and much more affordable for people who have delayed their home purchase because of the recession. First time homeowners are now usually offered a lower and a fixed interest rate. The amount of the fixed rate is determined by the monthly income of the borrower, so they are able to pay their installments. Tax rebates are also offered and every month this money can be used for general daily expenses.

There are people who have made significant sacrifices in order to save for their home. With this stimulus package they are now able to add eating out or taking a holiday to their lives. In this way the stimulus package doesn't just benefit the real estate market but the overall economy and may possibly create jobs. When the customer to spending ratio is increased, all areas of life and all elements of society will be affected.








For tips and facts about how you can benefit from Obama's Home Stimulus Plan - or to find out if you qualify, visit our no nonsense home stimulus guide: http://firsttimehomebuyerstimulus.net


Different Home Loan Offers For Great Canadian Mortgage Rates


One excellent location to transfer and own a dream home is in Canada. The views are panoramic, the weather is fantastic and the environment is like a great combination of modernization and unspoiled tourist destinations. Aside from the mentioned reasons, many people from all parts of the world are migrating to Canada because of its flexible home loans. As of now, most banks in Canada are offering at least 4 different kinds of home loans that would fit the financial limits and payment preferences of someone who is looking for a mortgage in the country. And each type of home loan certainly gives different Canadian mortgage rates.

The first current offer typical in most mortgage companies in Canada is the Closed Variable Interest Canadian Mortgage Rate with a five-year closed term. In this type of mortgage, the interest rate is given every month, on the first day. There are several payment options depending on the financial capability of the one who wants to get a home loan. They may pay weekly, every other week, every month or every other month. The financial availability may either be high-ratio or conventional. The down payment can be as low as five percent of the total home loan. The Canadian mortgage rates for this type of offer ranges from 5.5 percent up to 5.75 percent. Another five-year mortgage offer is the Fixed Mortgage Rate. However, the Canadian mortgage rates for this one varies from 6 percent up to 6.38 percent. The five-year mortgage, may it be closed or fixed, is applicable for residential properties.

There are also seven-year fixed mortgages in Canada. What's good about this offer is that it would give back a seven percent rebate of the total value of the mortgage. The term can extend up to ten years. The payment options for this kind of mortgage offer are also flexible. Moreover, the interest in the Canadian mortgage rates is not subjected to change. Currently, the rate for this type of mortgage is 7.65 percent. The seven percent cash back can definitely give more savings that they could spend for a new furniture in their newly through-loan acquired dream home. However, this is mortgage is only applied for those who are applying for a residential home loan. There is also a maximum amount of thirty-five thousand dollars. If the loan applied exceeded the maximum amount, the seven percent cash rebate is no longer applicable.








Miodrag Trajkovic specializes in showing homeowners how to avoid costly Mortgage mistakes and predatory lenders. For more articles and resources on Refinance Mortgage, Lowest Mortgage Rates, Mortgage Loan Application and much more, visit his site at:

http://mortgage.explore-me.com


Tuesday, December 21, 2010

Short Sell My Home? A Short Sale Can Provide Mortgage Relief and Opportunity!


There are millions of individuals across the country facing financial disadvantage and ruin. The two greatest disadvantages are both job loss, and carrying an underwater mortgage. Job loss is significant simply because with loss of an income, it often times results in loss of purchasing opportunities, or ability to maintain monthly financial obligations. With an underwater mortgage, considering this to be one of the largest investment opportunity most individuals will make within their lives, paying for a home worth significantly less than the mortgage note, can feel overwhelming. Should job loss occur along side an upside down mortgage, the stress can overcome many individuals.

Short sale opportunities have changed the way individuals take care of their personal finances. Rather than pay for an over inflated mortgage, individuals now have a potential opportunity to sell their home for the current market price without penalty, or in some extreme cases, allow a homeowner to repurchase their home for the discounted market price.

Under the Mortgage Forgiveness Debt Relief Act of 2007, sellers who participate in short sales, have the opportunity to structure any mortgage debt which has been forgiven, as excluded from annual tax obligation. This opportunity is currently available to homeowners until the year 2012. It is important to note that this can be an incentive for financial institutions to work with individuals, as it is rarely known, these institutions not only earn income on typical lending, some lending institutions can also earn income foreclosing on a home, as well as structuring short sales.

In a rarer event, sellers can sometimes negotiate to repurchase their same home at a lesser value. Should your credit score along with financial situation allow, and a short sale become approved through your lender, you may have the opportunity to work through a local lending institution to secure a new mortgage to bid on your own home. This process requires more risk, as most lenders will only work with homeowners whom are not current on payment, however, the reward could turn out to be very beneficial to the home owner. Because short sales are not treated the same as a foreclosure on your credit report, you may qualify for a new mortgage right away through a separate lender. This opportunity is also time sensitive, so acting quickly is a must.

A short sale record will appear as a negative mark on your credit report for eighteen months, as opposed to a foreclosure which can display for upwards of ten years. Financial planning should to be considered before your credit score is impacted. In the scenario where one homeowner was able to acquire a new mortgage through a local lending institution, and apply it against her current mortgage which was approved for a short sale to herself, she took advantage of her credit score while still in respectable condition, and applied for an automotive loan. She successfully applied and secured this automotive loan to purchase a newer vehicle. This was in anticipation of her credit score falling due to the coming short sale, but acting in time to take advantage of this opportunity.

Understanding the situation and opportunities presented, may allow homeowners options to improve their financial footing.








For further tips and secrets on mortgage relief, please visit http://mortgagerefinancetips.info. You will find articles that outline Short Sale Tips as well as mortgage refinance secrets, which may greatly improve your financial position.


Home Equity Loan or Cash Out Mortgage Refinance


If you are a homeowner interested in cashing out equity in your home, how do you know if a home equity loan or refinancing with cash back is a better choice for you? Here is what you need to know in order to make an informed decision.

Home equity loans and cash out mortgage refinancing both have their benefits. Choosing the right option for you means determining how you can access your equity without paying too much in fees and interest.

Refinancing your mortgage with cash back means you are refinancing your primary mortgage for a higher amount than you currently owe. The difference between your original mortgage and the new one is your equity.

Home equity loans come in two flavors: 2nd mortgages and home equity lines of credit. A 2nd mortgage will provide you a lump sum at a fixed interest rate. Home equity lines of credit function like a credit card account tied to your home equity with a variable interest rate.

If the amount you are looking to borrow is small you could save money in fees by taking out a home equity loan unless you have already been considering refinancing your mortgage for a lower or fixed interest rate. Home equity loans are useful for accessing smaller amounts of equity and can provide you a revolving credit line. This is a better option if you want to pay off the loan quickly and not be overwhelmed with lender fees.

If you have been considering refinancing or wish to borrow a large amount of your home's equity, cash out refinancing would be a better option. This could allow you to improve your loan terms or interest rate and lower your monthly payment while accessing the equity in your home.

To learn more about deciding which home financing option is right for you sign up for a free mortgage and home equity guidebook.








To get your free guidebook to home equity and morgages visit RefiAdvisor.com using the link below.

St Louis Mortgage Refinance

Louie Latour has twenty years of experience in the mortgage industry as a mortgage broker. He is the owner of Mortgages Refinance Advisor, a mortgage help site devoted to saving homeowners money with a free guidebook ?Mortgage Refinance: What You Need to Know.?

Sign up for your free guide today at: http://www.refiadvisor.com


Monday, December 20, 2010

Home Improvement: Home Equity Line of Credit versus Mortgage Refinance


Making home improvements, home remodeling, adding onto a home and debt consolidation are some of the most popular reasons people cash out on their home equity. But the question is, which should you choose, mortgage refinancing or a home equity line of credit (HELOC)?

A mortgage refinance loan is when you replace your current mortgage with a new loan. People refinance their mortgages for a variety of reasons including, refinancing from adjustable rate mortgages (ARMs) to fixed interest rate ones, liquidating equity into cash (cash-out refinance) or to reduce monthly payments and extend the loan term. A mortgage refinance has the same costs as a mortgage, such as loan application fees, loan origination fees, and appraisal fees.

A variable rate HELOC, where the interest rate and annual percentage rate (APR) can move up or down, depending on the Prime Rate published daily in the Wall Street Journal, is one of two popular second mortgage options, with the other being a home equity installment loan (HEIL). HELOC second mortgages provide you with the flexibility of borrowing all or part of your equity and you only pay interest on what you use unlike a HEIL or refinance. Because HELOCs work like credit cards, you can pay down your balance and borrow again without having to apply for a new loan. And, according to ehow.com, there are no closing costs for second mortgages, as there are with refinancing.

If you have an adjustable rate or high interest rate mortgage that you want to refinance into a lower fixed rate while cashing out on equity for home improvements or other purposes, a mortgage refinance may work the best for you. However, according to ERATE.com, if the rate on your existing first mortgage is substantially lower than that of current market rates and if you have been making payments on your mortgage for a period of five years or more, then a second mortgage may be a more sensible financial solution than starting over with a new first loan.








Maria Ny is a respected free-lance writer from San Diego, California. She has written many articles that covered a broad range of subjects ranging from Refurbishing Homes, Bankruptcy Reform, Credit Repair to Subordinate Financing. Check out her helpful articles online at BD Home Equity Loans.

You can learn more about financing home improvements and get additional loan program parameters. Get a free loan quote for a 125% home equity loans. We suggest you get more information and learn more about the guidelines for home improvement credit lines that could help increase the equity in your home by increasing its? value.


With Obama's New Housing Plan, Everyone Keeps Their Home


Under the Obama new housing plan, everyone keeps their home. That's the plan. Many people who qualify for the program still have not either heard about it, or they haven't taken advantage of the opportunity. Many people simply do not know if it applies to them or not.

As an example, let's take Jerry from Springfield, Ohio. He has owned his home for 20 years now and has refinanced 3 times in that period. Until last year, he was working full time as a warehouse supervisor making around $50,000 a year. He budgeted his income well and kept his expenses low. With just his modest home payment of $1,200, a $250 car payment and $150 in credit card bills, he was looking at ways to pay off his mortgage early. That is until business slowed down and he was laid off last September.

After months of search he finally found a job paying him just over $30,000 a year. With his mortgage 3 months behind he no longer was looking for ways to pay off the mortgage faster, he just wanted to save his home.

A quick search online found him reading an article on the BOA new housing stimulus plan which he felt could help him. He found that the Obama mortgage adjustment program was exactly what he needed so he contacted BOA and applied.

Initially, he was concerned that he was already too far behind in payments and he would face foreclosure before the modification went through. He was quickly put at easy by his representative who explained that once his application was submitted, all foreclosure proceedings immediately stopped. This is one of the guidelines under the Obama new stimulus for mortgages.

Jerry has since been approved for his modification and is now comfortable making his mortgage payments again. A welcome relief that has put him back on track and thinking of ways to pay off the mortgage faster once again.








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Sunday, December 19, 2010

How Do Home Equity Loans Work as Second Mortgages?


Writer Dan Ackman notes in an article at http://www.forbes.com that a recent report by Goldman Sachs shows "in 2004, Americans withdrew $640 billion in equity from their homes--by selling them, taking home equity loans or by refinancing. This was twice the total of 2001, showing that cash-outs have been rising even faster than home prices, which is very fast indeed." No doubt about it, Americans are using their equity!

The home equity process is streamlined these days as more and more consumers utilize their computers in acquiring loans. Information is limitless on the internet with websites such as http://www.about.com and search engines allowing consumers to answer their questions with a few keystrokes. Gone are the days of going from bank to bank to find the best rate and product. Loan applications now start online. There's no time better than the present to take a closer look at how equity loans work and how to make your equity work for you.

What is a Home Equity Loan?

Equity loans are 2nd mortgages that are secured by the value of your home. Today you can get a 2nd mortgage without having to refinance your current mortgage. The amount of equity available to you is based on the loan to value ratio, which is the value of the loan against the fair market value of your home. So a loan of $65,000 on a $100,000 home has a loan to value ratio of 65 percent. The standard ratio is 80%, but some lenders have loans with a loan to value of 100% or even 125%.

There are two types of these second mortgages. You can either get a home equity line of credit (HELOC) or a home equity loan. An HELC works much like a credit card. It's a revolving line of credit that can be paid off and used again. Equity lines of credit however, have a variable interest rate. Home equity loans on the other hand, involve getting all of your cash out at once and have a fixed interest rate. These work more like a standard loan.

Are Second Mortgages Right for you?

Home equity loans are considered as secure as a primary mortgage and usually the home equity rate is lower rate than credit cards and auto loans. This lower rate can make an equity loan a good choice for home improvement financing, loan consolidation and tuition expenses. The lower rate can mean monthly savings if you consolidate your debt. The interest can also be a tax deduction. Depending on your situation, this savings may make a home equity loan a good choice for you.

Home equity terms vary depending on the product. They will also depend on your credit score. Good credit will give you more options than bad credit. Home equity loans also have varying costs. There may be closing costs, appraisals, credit reports and points you will need to factor in to the cost of the loan. You should also be aware that if you refinance your existing first mortgage, the lender that holds the second mortgage must sign a subordination agreement, or the loan must be paid off with your new mortgage. The best loan for you will depend on your situation. If you know how your equity loan works, you can make sure that it works for you.








Rebecca is a free-lance writer and author of nine books on a variety of subjects. She is also a regular contributor Desert Magazine.

To get learn more about home equity loan programs, please check out the Home Equity Loan Center. To get more useful tips and information about second mortgage loans for people with all types of credit, please visit Second Mortgages & Equity Credit Lines.


Fixed Rate Second Mortgage or Variable Home Equity Line of Credit? Home Equity Report 2006


More and more Americans are cashing in on their home's equity by taking out a second mortgage. Home equity financing has evolved to meet the growing consumer demands for borrowing, spending, and building. One of the most powerful cash vehicles driving our economy is the new and improved home equity loan. Consumer debt is at an all time high, and home equity values are also peaking at all-time levels. Let's examine the primary reasons for the increasing popularity of home equity loan products.

Home equity lines of credit are revolving accounts that are considered to be second mortgages secured by real estate. These 2nd mortgage credit lines have become very accessible online. Equity lines of credit can be beneficial tools for homeowners if used properly. Helocs offer flexibility because you can borrow and re-borrow without having to start the loan process over again like you would with a traditional home equity loan. Another great home equity line benefit remains that you only pay interest on the money you access.

A few years ago, second mortgage rates hit all time lows.

Over the last year and a half, the Federal Reserve has increased the WSJ prime rates almost 3% points. Unfortunately this has had the biggest impact with variable lines of credit rates. During this record period for rates, home credit lines were over 1% lower than the traditional fixed rate home equity loan. There are many reasons people continue to take out home equity lines of credit. Some of the most common purposes for an equity line are bill consolidation, home improvements and buying a second home. What people love most about the equity credit line is the affordability feature that comes standard with low minimum payments.

On the flip-side, many homeowners like the responsible amortization that comes with fixed rate home equity loans. With these fixed rate second mortgages, each monthly payment allocates a portion to pay down both interest and principal of the loan. In 2006, fixed rate home equity loan rates are actually lower than equity lines of credit. The fixed rate mortgage is becoming increasingly attractive to consumers. Fixed rate loans offer "peace of mind" because people can go to sleep at night, knowing that their payment will not go up.

Both types of home equity financing offer lower interest rates than credit cards. Increased cash flow and lower monthly payments are great benefits of home equity. Many lenders have expanded their second mortgage guidelines for people with bad credit. Stop playing the balance transfer game with your credit cards and lock into a low rate second mortgage. In most cases, consolidating credit cards with a home equity loan will save you thousands of dollars a year.








Barry Donavan is a business writer who focuses on home finance and consumer credit. In addition to writing, Barry is a finacial consultant and loan officer at BD Nationwide Mortgage. You can read more of his home equity articles and get more information about fixed rate second mortgages and variable home equity lines of credit.

Copyright BD Nationwide Mortgage Company 2006 ?


Saturday, December 18, 2010

Moving Into a New Home Or Taking Out a Reverse Mortgage - What to Expect


Moving into a new home, or your first home, can be one of the most exciting times of your life. You will suddenly have complete control over how you decorate and what you can do with the place that you live and this feeling can be very liberating. However, when you are going through the process of moving into your new home, you might be a little bit worried about what problems may arise and how you will address those problems if they do occur.

It is normal to be cautious when you are going through something new such as buying a home or taking out a reverse mortgage. When you are moving into a new home, you might have a few moments when you will second guess your decision to purchase that particular home. If this does happen, it can be a good idea to take some time and think about why you chose this house in the first place and what has brought up these concerns that you now have. You will likely find that your concerns are simply due to being nervous about the moving process and that you really are happy with your choice to buy this particular home.

Before you move into a new home, it is usually a good idea to have an inspector come and complete a thorough inspection of the house. As with anything such as a reverse mortgage, you want to be sure that you know what you are getting into. The benefit of hiring an inspector to complete an inspection is that they are specialists in this area and will likely find any problems with the home if there are any. This can also help avoid running into any unforeseen problems with the home after you have already moved in. If you have the inspection done on the house before you close, you might even be able to ask the current owner to cover some or all of the costs to fix the problem.

One thing to help make the process of moving into your new home a little easier is to have a good attitude throughout the process and to keep in mind that you will soon be a home owner. You will have many more options down the road as a home owner, such as taking out a reverse mortgage, and this makes all the difference to many home owners. You can have a lot of fun when you are moving in such as with deciding what color you want to paint each room, how you want to decorate and what you would like to do with the landscaping.

Buying a home can be one of the most exciting times of your life. If you do begin to feel stressed out during the process, it can help to take a few minutes and remind yourself why you chose to start looking for a home to buy in the first place. Doing this can help you remember why this is important to you and can really help calm any nerves that you may be feeling.








More information on reverse mortgages is just a click away.


The Halifax Retirement Home Plan - The Quest To Find Mortgages For Pensioners?


Planning for your retirement should start in your earlier years; however life unfortunately doesn't always go to plan!

Here we discuss the merits of the niche interest only mortgage product; the Halifax Retirement Home Plan which is becoming an increasingly popular way of providing mortgages for pensioners.

Since writing my original article on the Halifax Equity Release plan, interest has certainly been escalating. The main reason being that people in retirement are unaware of their mortgage options once they finish work. But life must go on.

What is the history of the scheme?

Established in 1984, the Halifax Retirement Home Plan was initially available through the Halifax branch network and was developed to provide low cost mortgage finance for the retired & elderly.

However, under the Financial Services Authority review of the lifetime mortgage market in 2006, Halifax withdrew the branch license to offer lifetime mortgage advice.

Therefore, the responsibility for providing advice on the Halifax Retirement Home Plan was left completely with lifetime mortgage qualified advisers including independent specialists Equity Release Supermarket.

So what is the Halifax Retirement Home Plan?

In simple terms the scheme is an interest only mortgage for people who are retired & facilitates the release of equity tied up in the property. The release of funds can be for almost any purpose including:-

? debt consolidation including paying off credit cards/loans or mortgages

? holidays including cruises or just day trips

? replacement car or caravan

? home improvements

? gifts to the children providing a deposit for house purchase

? supporting your lifestyle through retirement.

Qualification for the Halifax equity release scheme is based on income. Halifax will only accept non-earned income & this must be in the form of: -

? Occupational pensions ? Private pensions such as personal pensions or retirement annuities ? State pensions ? State benefits including pension credits & disability benefits

The minimum age for the Halifax Retirement Home Plan is 65. However, as long as there is no earned income & justification for the size of the mortgage can be based solely on the above income, then ages lower than 65 can be achieved.

How much can be released?

The minimum release on the Halifax Retirement Home Plan is only ?15,000. However, to establish the maximum release possible would require the use of an affordability calculator.

Halifax does not base the size of release on a multiple of income, but whether the interest only mortgage can be afforded through retirement.

The data Halifax requires for this calculation includes income, credit status, number of applicants & credit commitments outstanding after the new mortgage commences.

This procedure can be carried out by qualified advisers such as Equity Release Supermarket & is an accurate assessment of the potential borrowings on this scheme.

The overall maximum release available can never be more than 75% of the valuation of the property. Therefore, should the affordability calculator show a figure greater than this, it will still be capped at 75% of the property value.

Does Halifax require a repayment vehicle?

The answer to this is NO.

As the Halifax Retirement Home Plan is an interest only mortgage for pensioners, no form of repayment is required.

In contrast, the mainstream mortgage market is actually tightening its grip on new interest only mortgages, whereas the Halifax equity release scheme will still accept repayment by virtue of the eventual sale of the property. This would be on death of the surviving partner, moving into long term care or earlier property sale.

The term allocated to the Halifax home retirement plan is 40 years which should provide ample time for it to run for the rest of one's life! This removes any concern about having to find the funds to pay off the Halifax scheme during your lifetime.

Most mortgage providers will only accept a mortgage term up to age 70-75 or in rare instances age 85. However, this only buys time as eventual repayment would be required. However, this scenario may still be suitable should one be downsizing at a predetermined date in the future.

The Halifax Retirement Home Plan therefore removes any element of capital repayment risk.

So what interest rates & products are available?

Dependent upon whether you are a new or existing Halifax customer will determine the interest rates & products applicable.

Currently, the better deals are offered to new customers as they have access to the whole mainstream Halifax product range. This is a great advantage, as there is full access to current low rate tracker & fixed rate products.

These include deals such as the current 2 year tracker rate at just 2.59%. Based on borrowing ?50,000 this currently would only cost ?107.92pm (3.6% APR).

Additionally, if remortgaging from another lender then there is the benefit of a free valuation & free standard legal fees, which reduces the set up costs significantly. I have experienced clients who have just ?800 outstanding on a mortgage or even documents kept in deed store that qualified for this free remortgage package!

What if I already have a Halifax mortgage?

The good news is you can still apply for the Halifax Retirement Home Plan. However, the situation here requires completely different advice & procedure. Should you wish to merely transfer onto the Retirement Home Plan then you can port over your existing rate which can be good news if on a standard variable rate. However, if you wish for additional borrowing then the process becomes a little more complicated.

The product range for existing Halifax customers is rather sparse & with the best deals starting currently at 4.99% fixed, hence there is a distinct advantage for new customers.

Such applications will be paper based & therefore processed manually which involves more human input. Experience has shown this results in a different underwriting approach to the process undertaken on new applications.

Can I pay off the Halifax Retirement mortgage early?

The simple answer to this is YES.

Unlike equity release plans where penalties can potentially apply for the rest of your life, the Halifax interest only mortgage will only have early repayment charges for the initial product term. Therefore, should you have opted for the 2.59% 2 year tracker product discussed previously, the penalties would only apply for the first 2 years. After, this 2 year period the mortgage would then revert to the Halifax standard variable rate, currently 3.5%.

However, before the initial rate expires you will have the option to take out a new product from the Halifax mortgage range available at that time.

So what is the advantage of the Halifax Retirement Home Plan over an equity release scheme?

The obvious answer to this is the fact that the Halifax mortgage is interest only & therefore requires a monthly payment of interest. The balance will always remain the same throughout the term of the plan. E.g. borrowing ?50,000 today, will result in ?50,000 requiring repayment once the house is sold.

In contrast, equity release schemes do not require any monthly repayment & therefore the balance will increase over time. Roughly speaking the balance of equity release schemes will double every 11/12 years.

From a beneficiary's point of view, the Halifax interest only mortgage will guarantee an inheritance, as the final balance of the mortgage will always be known. This would be favourable for people who want to ensure the children definitely receive an entitlement to their parent's inheritance.

With all this information & options available it is more important than ever to receive specialist advice to obtain the best deal for your personal circumstances.








About The Author:
Mark Greggs is the founder of Equity Release Supermarket who were recently accredited 'Best Financial Advisers' at the Equity Release Awards 2008.
Mark is an experienced Independent Financial Adviser who has now been providing quality equity release advice for the past 10 years.
Gained with this experience is exclusivity to deals with some of the UK's leading financial providers.
Mark aims to pass on his experience in assisting the over 55's decide whether the Halifax Retirement Home Plan is the right choice for them.

For further information or to compare equity release deals available go to: -

http://www.equityreleasesupermarket.co.uk

Alternatively, contact Mark on 0800 783 9652 or email mark@equityreleasesupermarket.co.uk.


Friday, December 10, 2010

Using Home Equity Loans To Make Home Improvements


Home improvement loans can provide money for a complete home remodel or specific home

improvements. These upgrades can transform your house into a home and increase your property

value. Another benefit is that the money is tax deductible. As long as you carefully

evaluate your financial situation, you may use a home equity loan to make home

improvements.

Home improvement loans are not the same as construction loans. Construction loans provide

financing for building and completion of a new structure. A home improvement loan is

essentially a home equity loan placed on your existing home that you currently occupy. The

lender generally pays you in one lump-sum at closing. This is also sometimes called a second

mortgage loan.

Home equity loans are great if you only want to borrow small amounts of money for home

improvements and pay off the loan in a short amount of time. A home equity line of credit

can create flexibility and convenience by giving you the ability to withdraw money in

varying amounts as necessary. However, home equity credit lines generally use adjustable

interest rates and this carries the potential risk of increasing over the life of the home

equity loan.

Lenders rarely place restrictions on home improvement projects as long as they are conform

to your local building requirements. Depending on the size of the home improvement project

scope of the job, you may do the home improvement work yourself or hire a general

contractor. Be certain you read the fine print on your home equity loan for home

improvements because some lenders may require you to hire a contractor for the project which

can significantly increase the cost of your home improvement project.

Terms for home equity loans can range from 5 to 25 or even 30 years. Some lenders offer

fixed rate as well as balloon rate options. The minimum amount you may borrow for a home

equity loan is generally about $10,000. You can most often times borrow up to 100% or, in

some cases, even as much as 125% of the value of your home. However, most lenders will limit

a home equity loan for home improvements to a maximum of $1,000,000.








Could you use a home equity loan for some much needed home improvements? Learn which home improvement loan option is right for your family.


Home Loan Videos? The New Way to Learn About Finance


The new way to learn about home loans!

Forget reading dusty bank guidelines manuals or trying to pry brochures out of the clutches of your local bank branch. Now you can do a YouTube search for most types of home loans, or even most home loan related problems, and quickly find a solution!

Why videos?

Lets face it, finance is boring! Nobody rushes to meet the bank manager or mortgage broker at parties. Reading about finance is even worse.

Media such as videos allows average people to get quick access to expert finance advice without having to sift through useless junk and confusing jargon. Plain English videos have proven to be quite popular with people that in the past have found finance articles to be too confusing.

So how do I find finance advice videos?

You can do a Google or YouTube search for specific finance terms such as "Low doc loan with vacant land", "Casual employment home loan" or even "best rate mortgage" and you can find many popular videos produced by expert mortgage brokers.

Google now shows YouTube results in their own search results as imbedded videos. Alternatively you can do a Google search for "Youtube: Vacant Land Low Doc Loan" which will only search for videos, not other web content.

Are there any finance channels in YouTube?

Yes there are several finance channels such as those offered by Mortgage Brokers, banks and finance news providers.

If you are a mortgage broker why not start your own? What better way to help your clients then by talking to them face to face by taking advantage of new technology.








About the Author

Otto is a Mortgage Broker that has specialized in difficult home loans for over 5 years. His company the Home Loan Experts is a well known finance news provider and YouTube broadcaster.


The Best Way to Buy a New Home While Selling Your Existing Home


Buying a home and selling a home at the same time can be one of the most difficult and nerve wracking of all real estate transactions. Many people wonder how to juggle the selling of one home with the purchase of another. They may be worried that their home will not sell by the time the money is due on the new home, or that they will be unable to find a suitable home after their home has sold.

These are certainly valid concerns, but there are steps the smart homeowner can take to increase the chances of a smooth buying and selling transaction.

Right timing to buy and sell

The timing of the two transactions can be very important. Many people find that they have the best chance of buying and selling a home in the spring and summer months. The spring and summer months of the year are typically the time when the inventory of homes on the market is at the highest level. If you need to sell your home in the fall or winter of the year, the time period between finding a buyer for your current home and finding a new home could be much longer.

Add contingency clause

It is also a good idea to tie the sale of your home to the purchase of a new home. Consider specifying in the sales contract that the sale of your current home is contingent on your finding a new place to live. Failure to write this contingency into the contract could leave you searching for a temporary place to live if your home sells before you find a new one. It is fairly easy to add a clause to your sales offer that your offer is contingent upon the sale of your existing home. This will protect you in case your home takes longer time to sell than anticipated.

Sell first buy later

You're encouraged to put your home on the market before you begin the search for a new property. That time differential will allow you to gauge the local housing market and give you an idea of how long it will take your home to sell. It will also give you the ability to negotiate the escrow period in order to give yourself plenty of time to find a new place to live.

When buying and selling a home, it is a good idea to have the transactions close simultaneously if at all possible. This will help you avoid the situation where you have to get out of your present home before you can move into your new one.

Utilize same services

It is also important to remember that you are not obligated to use the same agent for the purchase and sales transaction. That said, using the same agent for the purchase and the sale might give you leverage when it comes to negotiating the real estate commissions.

Even though it is not necessary to use the same real estate agent for the purchase and sale, it is advised to use the same title or escrow company and the same real estate attorney to handle the transfer of both properties. Using the same companies for these important transactions will help ensure that both transactions go as smoothly as possible.

In addition, make sure you get all your financial documents in order and to fully investigate your financing options while your home is on the market. This is crucial, especially, for buyers who are selling their current home and looking for a more expensive one. Furthermore, having a pre-approval loan document in hand will give you greater negotiating power on the purchase of your new home. Using the time your home is on the market in a constructive way will help you a great deal.








Andrew is the web owner of Home Buying Tips: How to buy a house, a website that provides informational guide on home buying and selling, mortgage loan, foreclosure, real estate investment and more. You can visit his website at: http://www.buy-and-sell-house-fast.com/


Thursday, December 9, 2010

Find Out The Top 9 Reasons For Home Buyers To Buy A Home This Winter


The latest question we have been asked several times from home buyers is "We want to wait until next spring to buy a home, why should we buy a home this winter?" This is a very good question and my business partner and I have compiled a list of over 25 reasons and then we narrowed our list to the Top 9 reasons why real estate home buyers should buy a home this winter.

1) Home Prices are lower now then they will be this spring

Why should a home buyer buy a home now versus waiting this spring? Buying a home now will save the buyer money. Currently there are fewer buyers now then during this past spring or summer. There are more buyers looking for homes during the warmer times of the year. Serious home sellers will have more pressure to sell when homes sales are slower. Serious home sellers will either be listing their homes below market or lowering the list prices of their homes to attract buyers. With lower prices, buyers will instantly save. Last week I was working with a buyer who narrowed their list down to two homes. After looking at comparisons we noticed that both homes were priced under market by $10,000-$15,000. We decided to make an offer of $30,000 under list price on our number one choice. The seller was really mad. We decided to look at the number two choice home again and make an offer on. We did the same thing. We made an offer, $30,000 off of the listing price. The seller countered at $15,000 under list price and we countered at $20,000. During the appraisal today, the appraiser estimated that we bought the home $35,000 under value for a pristine home listed under $190,000. Do you think the buyer is happy?

2) Home sellers are more emotional

With many home sellers experiencing high financial debt, their only way out is to sell their home. Anyone who has experienced the endless creditor phone calls will understand what steps a person will take to end those phone calls. Catch a seller who could easily solve their problems by selling their home and you will most likely catch a good deal. After showing 20 homes this weekend, I received 8 phone calls from desperate sellers saying that they needed to sell now and would look at almost any offer. Three sellers said that they had some extreme debt to payoff. I will remember these homes for future buyers who want to catch some good deals.

3) There is more interest on the internet

Many companies have their relocations planned for right after the first of the year, so many relocating employees will use the holidays to plan exploratory visits and searching the internet. By having your home on the market and internet now, buyers will have the time to view your home when they are more relaxed and have the time. The past two years the hits on our website have tripled from mid December to the end of January.

4) Some home sellers will be better off selling now

According to the CPA's and financial planners we work with, many home sellers would be much better off selling now to get a better tax deduction. Catch a seller who would benefit from a huge tax deduction and they may be more negotiable to sell fast.

5) Buy now and move after the holidays

Experience tells us that sophisticated home buyers understand that they can make a purchase now at a great price and move after the holidays. Get a great deal now and move when things slow down. Home buyers who buy new homes now can catch the end of the year specials and move when the home is completed this next spring. The buyer has the control in today's buyers market. If agreeable terms are not agreed upon, the buyer can always go to the next home.

6) Capture a lower interest rate

Currently we are experiencing low interest rates. Experience tells us that interest rates start edging up the end of January. A sophisticated home buyer would like to capture the lower interest rates by locking in on the low rates while they are still low. Some lenders have lock and shop programs. Lock in on a low interest rate now and shop for the next few months' pressure free for their dream home.

7) Get guidance and help

During the holiday season it is more likely that friends and family can visit during your home shopping visits. The more advice you can get, especially if you are a first time home buyer, from people who know you the more likely you will make less mistakes. First time home buyers sometimes find it difficult to ask the right questions. By having a family member or friend around who knows what to ask or who knows your wants, the process can be easier.

8) Home builders are experiencing pressures

During the winter time, the amount of new homes sold goes down. One new home agent reported that his sales are a quarter of what they were this summer. With builders building costs and the cost to borrow money increasing, builder are more likely to negotiate on the sale of their new homes now. Typically, builders haven't negotiated on price the past 4 years. Today I received 3 flyers from new home agents with price reductions on their inventory.

9) Lower payments

We are getting contacted on a weekly basis of new and better loan programs that will help lower the monthly payment the home buyer will pay to the mortgage company. Lenders have the time to find better loan programs for home buyers now. If a home buyer waited until this spring to talk to a lender and they will most likely talk to a new loan officer who has limited time to work with you and limited experience to find the best loan program. One home buyer we worked with saved $234 monthly by finding a better loan program. What would you do with an extra $234 a month?

Savvy home buyers like to buy when home prices are lower and the amount of buyers is lower. Currently, in most markets, the number of homes for sale is down 10% and the number of buyers looking for homes is down 60%, compared to this past summer. A savvy real estate buyer would like to get a great deal. With the real estate market being a strong buyer's market, why would a buyer want to wait until the market shifts to a sellers market?

If you are a first time home buyer or a move-up home buyer and you would like to get a good deal, we would be happy to work with you. With foreclosure listings at an all time high, we are sure that the next best deal is right around the corner.

The Dowell Taggart Team is a team of experienced real estate agents who practice residential and investment real estate in Kansas City. As Kansas City's #1 web savvy residential real estate and investment specialist, we are currently scheduling consultations for savvy real estate home buyers. You can visit us on the web at http://www.DowellTaggart.com

This report shall not be copied in all or in part without the permission of the Dowell Taggart Team. The Dowell Taggart Team uses tracking software to track unlawful usage. This report is copyrighted.








Chris Dowell, author, is a member of the Dowell Taggart Team. Chris has been practicing real estate for 18 years. The Dowell Taggart Team is a team of experienced real estate agents who practice residential and investment real estate in Kansas City. As Kansas City?s #1 web savvy residential real estate and investment specialist, we are currently scheduling consultations for savvy real estate home buyers. You can visit us on the web at http://www.DowellTaggart.com

As Kansas City?s #1 Web Savvy Residential Real Estate and Investment Specialist in Kansas City, we often get asked real estate questions. If you have a real estate question, please feel free to contact us at: http://www.DowellTaggart.com or go to our website and click on Our Blog at the top of our website.


Home Improvement Loan - Refinance Your First Mortgage Or Obtain a HELOC?


A home improvement loan? You bet. A home improvement loan, which is just another name for a mortgage loan, will finance the improvements that will add value to your home and can provide you with cash too, not only take care of your home improvements, but payoff credit card debt as well.

Mortgage loans provide you the opportunity to access more money by allowing you to pay, over time, large amounts of money borrowed against your home equity.

You know you need a home improvement loan to get your home where it should be. Enlarging your home financed by a home improvement loan is smart and just plain prudent.

Your son is entering junior high. He brings over two friends with their music, laughter and horseplay. Your daughter is just behind him in age and brings home a gaggle of little girls with their giggling and constant chatter. Dad just wants to watch TV in peace and you just want some tranquility in your home. It has, therefore, become painfully obvious that unless you do something to enlarge your home, its going to burst its seams. It's time now to look at making your home larger because this is not the time to sell your home for less than what you can purchase a new home. It's time for a home improvement loan.

The question now becomes, "should I refinance my current home loan or should I get an equity line second mortgage, also known as home equity line of credit (HELOC)"? Here's how to figure out the answer to that question.

A. The current mortgage rate for a home loan refinance is in the mid 6s. If your current interest rate on your first mortgage is less half a point lower than that, then, by all means, refinance your first mortgage, pull cash out of your home and begin your home improvement.

B. If your current mortgage interest rate on your first mortgage is more than a half a point lower than the mid 6s, then you might want to leave your first mortgage right where it is. It is doubtful the mortgage rates will return to that level in this lifetime. You may have been lucky enough to get an interest rate in the 5s during the refinance boom between 2001 and 2003.

There are, however, some exceptions to these two statements. Thinking of paying off your credit card debt with this loan as well? If so, then you need to look at the bottom line. What will your monthly outgo turn out to be after all is said and done. Once your home improvement project is complete and you have paid off all your credit card debt, what is your monthly house payment? Is it going to be lower than it would have been had you left your first mortgage alone, got an equity loan for your credit card debt and home improvements? No brainer.

It may hike your interest rate on your first mortgage to payoff your credit card debt and get money for your home improvements. On the other hand, your equity loan won't be in the mid 6s because 2nd mortgage rates are governed by the current prime interest rate, which results in a higher interest rate than a first mortgage rate. Even thought second mortgage rates are always higher than rates on first mortgages, but the monthly payments on both mortgages may turn out to be less than the combination of payments that include your credit card debt. Either way, you have made your credit card debt tax deductible. The only questions should now be, which is the lower monthly payment.

It's simple, only two options exist for home improvement mortgages. Do your homework by getting good faith estimates from your lenders of choice and carefully comparing them for rate and closing costs. Comparison shop just as you would any other large purchase. Shop for the lowest mortgage rates available because mortgage rates determine your monthly payment and the best mortgage rate you can find will give you the lowest monthly payment. Refinance mortgage rates sometimes will be slightly higher than purchase mortgage rates depending on the lender. If it turns out the 2nd mortgage home equity line of credit is the way for you to go, shop around the for best home equity loans featuring the best terms. Current mortgage rates should play a big part in your decision.

Don't be turned away by the extra fees lenders are tacking onto refinance loans these days. Reputable lenders will allow such fees to be used towards closing costs or refunded upon funding of the loan or at the very least, the low rates right now just might justify the extra fee. Study your personal financial situation objectively and thoroughly and you will ensure you have a full understanding of your current financial condition so you can choose the right mortgage option for your circumstances.

Home Improvement Loans








Anne Dunne has been a financial author since the mid 80s. http://www.Mothers-Everything.com/Home_Improvement_Loan.html


Too Many New Credit Cards, Your Credit Score, and Mortgages


Basics

Your credit report will list your creditors by:


when the credit line was opened
the maximum available balance
the current balance on the credit line
Your credit line lines on a credit report are any extension of credit that has been made to you, such as a credit card, department store card, car loan, or student loans among other creditors. When The Credit Line Was Opened This is the month and year the new line of credit was extended.

Even if you applied for a credit card only recently it is quite likely to show up on your credit report. Creditors often report data to credit bureaus quite quickly, and that is how your credit report remains up to date. Don't count on a new line of credit not showing up on a credit report. It may not show up, but it often will.

Maximum Available Balance

Your credit report will state what the maximum available balance is for each credit line. If you add five credit cards and each of them has a maximum available balance of $10,000 then you have just increased your available credit by $50,000.

From a mortgage lender's perspective additional available credit represents a potential risk to them. If you take on too much additional debt you may not be able to pay your mortgage properly.

Current Balance On Credit Line

Your credit report will list your current balances on each credit line. It is usually up to date. If you have a lot of new credit and have started to use it, your credit card balances may show up on the new credit report.

Also, although items may not show up on the credit report that you obtain the mortgage lender will run their own version of your credit report. Since they will check the credit report after you have they will have the latest information.








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Home Building Contractor to a Home Business Builder


At the end of 2008 the new home building industry had all but closed up shop. Almost overnight, years of new home construction came to a screeching halt. Many small, independent contractors and tradesmen found themselves facing the most dire economic times of their lives.

With the Federal Banking System teetering on the edge of collapse, lending vaults remained locked up tighter than Fort Knox. Mortgage Companies were facing a complete melt-down the likes of which haven't been seen since Chernobyl. The World was facing economic hardships never before imagined.

Most, if not all, independent, small construction business owners were either out of business or searching for new ways to generate income. As with other new home related industries, ever since mid 2008, there has been a mass exodus from the field of new home construction.

Where have all these carpenters, contractors, craftsmen and tradespeople gone? What has happened to all those electricians, plumbers, painters and roofers who were, for so many years, almost too busy to keep up? How does an entire industry, consisting of millions of people, simply fade away?

One option that clearly stands out, comes from within the Internet. Currently, one of the fastest growing industries in the world is Internet and Network Marketing Online. There are thousands of new Online entrepreneurs stepping foot into this new Cyber World everyday. From every corner of the planet there seems to be construction workers now working online.

When making the transition, it becomes apparent, the work ethic of most life long tradespeople is an attribute much needed while building any new home business. Another strength that seems to carry over from the world of home construction into working for yourself from your own home, is the ability to manage and schedule time. Working for yourself, be it in home building or home business, is about time management and achieving established goals.

It seems almost a natural transitions for many. With the proper plan, and the correct systems in place to help educate and offer support, it can become a very easy career change for many carpenters, contractors, plumbers or anyone from a construction or home building business background. Yesterdays home building contractors are now today's home business builders.








After spending a career as a custom home builder/contractor, Mitchell is now an Online entrepreneur, business coach and personal mentor out of Colorado, USA. He assists other serious candidates in building profitable and sustainable online businesses with multiple incomes streams.

To learn more about Mitchell visit http://mitchelldillman.com/partner-with-mitchell/.
Or go to http://dillmansolutions.com.


Wednesday, December 8, 2010

Is The "At Home" In Your Work At Home Business?


Have you ever thought about the fact that most people with a "home" business

probably spend more time outside their home working their business, than actually

being at home?

With the exception of certain types of home based businesses, most, whether in

businesses of the traditional variety, such as real estate agents, mortgage brokers,

etc., or network marketers, spend a great deal of time outside the home in an effort

to build and maintain their businesses.

When it comes to network marketing the number one activity that takes place

outside the home is probably the classic hotel and/or conference room meeting

where people gather at least once a week to bring prospects to hear their company's

business presentation.

Of course, industry veterans know that these meetings often turn into mere social

gatherings, because the same people (representatives who are already in the

business) usually keep showing up week after week, as opposed to the new

prospects who are supposed to be getting into the business.

Many home business owners routinely meet prospects at the prospects' homes or

offices, or have the prospect come to them in order to conduct a business

presentation.

Yet another popular practice is to take your prospect to lunch or dinner to discuss

your business proposal over a meal. Prospects often love it, because they get a free

meal, usually with no obligation to join you in your business.

For some types of high dollar transactions, as in the type of business that is often

conducted among larger businesses and organizations, taking your prospective

customer, client, or new business partner out on the town may be justifiable.

However, especially if you are involved in network marketing, the amount that you

stand to make up front if a new prospect signs up may range from as little as

nothing, to perhaps a few hundred dollars.

For example's sake, lets say that you are with a company where at your level in their

compensation plan you earn $100 each time someone new comes into your

business and qualifies for whatever your initial product/service purchase

requirements are. As always, it is the consumption of the product that you are being

paid for.

And let's say that for every 10 prospects you take to lunch 1 prospect typically signs

up. Again, this is for example's sake, as your actual closing rate may be higher.

However, especially for someone new, it's reasonable to assume that he or she may

sign up as few as 1 prospect out of every 10.

Let's further assume an average lunch bill of $25. Again, this is being very

conservative, as a typical lunch even for two can easily be higher.

Ok, let's do the math. You take 10 prospects to lunch at $25 each, and 1 signs up in

your business, which earns you an up-front commission (when your check comes)

of $100. $25 x 10 = $250 so you are now at a loss of $150 for your efforts. That's

not including gas money, wear and tear on your car, or any sales aids or samples

that you may have also given away to each prospect. So, conservatively, at this rate

you're going to LOSE AT LEAST $150 for each and every person you bring into your

business!

Again, your closing rate may be higher than 1 out of 10, and your initial

compensation may be higher, perhaps even by hundreds of dollars. However, if you

are like 9 out of 10 typical home business people or network marketers, the

numbers above are probably very realistic. Many network marketing compensation

plans pay considerably less than $100 in up-front money.

If you are doing hotel conference room meetings then your cost may be lower as

you, along with all other representatives attending, are likely sharing in the expense

of the room and facilities.

The above examples assume that you are working with prospects and/or

representatives who are in your immediate local vicinity. Many network marketers

travel out of town to grow their businesses. Sometimes this may be to sign up a new

prospect. However, typically it is to provide support and assistance to new out of

town people who have come into your organization. One thing that you'll quickly

learn as you grow your business is that even if you only recruit and sponsor people

locally, because they will have friends and family in other states and perhaps even

other countries, it won't be long before any organization of any size is spread out

quite far geographically.

Almost every industry or network marketing company also holds at least one annual

company event or meeting, which all representatives are encouraged to attend.

These events require yet more expense, time away from your main occupation

(unless you are working your business fulltime), and even time away from your

primary business. Sometimes you'll recruit someone along the way using the old "3-

Foot Rule," (prospect anyone who gets within 3 feet of you) which is absolutely NOT

one of the methods advocated here on ABCIncome.com. But otherwise, when you

attend company functions you usually do so at the expense of taking time away

from the activities that are actively making you money.

It can be true that you will gain enough new information and insight into your

business that what you learn at these company functions can help you build your

business even better, but seldom can you count on such an even to guarantee

dollars into your bank account. Over the years I've watched countless people spend

money they didn't have in their budgets in order to attend such events. That's

because most such events cost you money, as opposed to making you money.

There is nothing wrong with company conventions, seminars, etc., as long as you

can readily afford it, enjoy it, and, most importantly, can afford to pay for it out of

PROFIT! If your business isn't making you enough money to pay for such a trip then

wait until it does, unless you are already in a position to easily and comfortably

afford the trip out of your existing budget (most likely from the income from your

day job).

Not to digress too far away from the main theme of this article, but key rules to

always remember in your business are to grow your business out of profit, spend as

little money as possible on things that don't make you money, and what money you

do spend try to invest wisely in those things that will make you money.

Lastly, be reasonable about how many functions you attend. Some groups of

network marketers (usually not an official company sanctioned position) encourage

or even demand their representatives to attend pep talks and rallies as often as

once a month or more. Follow the guidelines already mentioned above: Can you

afford it, and what impact will attending that function have on your business? Is it

costing you money or making you money?

Returning to our original theme, even if you can afford activities like those just

discussed above, do you want to spend that much time away from your home and

family? Many people find that they are out and about so much, traveling to work

with out of town groups, and attending functions, that they are tired and barely

recover after returning from one before they are off to the next.

Even if your efforts are profitable the above methods can be among the least

efficient ways of building a business. That's not to say it can't or doesn't work, many

have built organizations of thousands that way, including me (in years past, as I use

better and more efficient methods today). But ask yourself, if you could build an

organization just as, if not more, effectively while still being able to spend as much

time at home with your family as you would like, wouldn't that be better?

Sure, you can always take people to lunch, dinner, and travel, to socialize, but,

especially with all of the tools that you now have at your disposal such as the

telephone, conference lines, Internet, fax, etc., it simply isn't necessary to do so in

order to build a successful and profitable business.

There are some people who just love and enjoy always being on the go, or

socializing, etc. There too such things become a matter of personal preference. I

know people, for instance, who, especially in years past before online bill pay, etc.,

love to pay almost all of their bills in person. For a stay at home parent, or someone

not working fulltime, or a retired person, etc., they often view it as a way to get out

of the house and keep active. However, if you employ the kinds of training and

techniques that are available to allow you to build a growing, successful, and

profitable business, right from the comfort of your own home, you will be busy with

so many new prospects and representatives that you are unlikely to get bored

sitting around home with nothing to do!

So, if you're happy with the way in which you are currently growing your business,

which may include some of the methods above, that's fine. Some people still enjoy

building their businesses in the traditional way, in person, one person or a few at a

time. However, if you would like to learn more about some of the things that you

can change, and techniques that you can employ, in order to start growing your

business effectively right from home, then please take a look at the programs that

we offer on ABCIncome.com. They allow you to achieve better results, faster, than

using any of the less efficient methods mentioned above.








GRPMAX, L.L.C. was founded by CEO Phil Covington in 1979 and is the parent company of http://www.abcIncome.com "Home Business" GRPMAX specializes in developing Uniquely Innovative Technologies & Solutions? and has worked with clients ranging from small business, to government, to the Fortune 500. Specifically, GRPMAX creates solutions that automate processes that previously required human staffing and interaction. Mr. Covington's interest in the home business field started in the 1980s and developed out of relationships with some of the industry's most talented and highest earning individuals, during which time he has actively pursued the creation of the ultimate home business passive income solution.


Save My Home - Can I Save My Home From Foreclosure?


America is still amidst a nearly unprecedented financial crisis. In fact, I listened to a presidential press conference not too long ago and there was not one question from the press pertaining to war. That is crazy! The U.S. is involved in two wars at present.

All they talked about is the housing crisis and the financial crisis. Do not get me wrong, the financial crisis is not without merit, but I could not believe there was not one question about the war.

I digress. The big question is this; Can I save my home from foreclosure? More people than ever before are pondering this very question and they just do not know what to do. This is the problem. People just do not know what to do. Loan mod companies charge thousands. If we had thousands, we could just send it to the mortgage company, right?

The banks are overwhelmed and they will not take time to council you. BUT they will work with you if you know what to ask for, who to ask for, and how to prepare the documents to save your home. There are actually nearly 40 ways to save your home from foreclosure, but best of all there are step by step guides that teach you all the options and teach you how to execute those options.

As many as 98 percent of homeowners at risk of losing their home could actually prevent the foreclosure action, BUT ONLY IF you arm yourself with the right tools to get the job done. The best part is, you do not have to pay thousands to a third party company to help you. Besides, most of these loss mitigation employees are just as new to the art of saving a home as you are.








To Save Your Home GUARANTEED, You Must Act Fast! To Get the Home Saving 411 CLICK HERE.

You can also just visit our site at http://www.HomeLoanHelp.vfgfair.com

Copyright (c) 2009 S.L.Welch

"Use of this article is authorized provided it is reproduced in full, and all web URLS are active hyperlinks directed to the author"


Home Repossession Advice - Always Pay Your Mortgage


It is highly-unfortunate to see the countless number of people, who have dealt with or are currently dealing with, home repossession. In order to get themselves back to a state of financial surplus and out of debt, it takes a lot of work and education. Even though you may initially think that home repossession is the end of the world, there are still a number of things that you can do in order to prevent yourself from struggling to deal with one.

In order to avoid home repossession, there are a lot of things you can do. The first way to avoid any form of home repossession is to get a good paying job. You need to sustain a good income flow in order to pay the bills and your loans. However, getting a good job will not always mean that you will be able to pay off your mortgage. If you make an unintelligent decision and take out a mortgage that is far too big for you to pay off at the moment, then you will have a difficult time paying it off regardless of your salary.

If you took out a manageable sized mortgage for your income and you still cannot gather enough funds to pay your bank statements, then you need to figure out where all of your money is going; you must be spending it on other things. Take a moment to write down all the places that your money may have gone and make yourself consciously aware. You may be buying yourself a doughnut every single day for a month straight, which could have caused you to fall just short on your payment. Maybe you spend every weekend shopping at the mall and your funds ran out. Whatever you spend your money on, make yourself aware of how it is being spent. By making yourself aware, you will be able to stop your wasteful spending and will be able to focus on paying your mortgage to avoid having your home repossessed.

Do not think that you will ever be able to scam the banks by not paying your mortgage. This is a recipe for home repossession. Always make it a top priority each month to pay off your mortgage until it is finished. Find a way to sustain an income and live frugally for awhile if that is what it takes to avoid repossession. After all, nobody wants their home permanently taken away from them and sold to new owners because they missed a monthly payment. Keep working to increase your finances and making your payments on time and you will always be able to avoid home repossession.








Hampton teaches people about home repossession and offers free tips about repossession houses


Refinance Your Home Now With a VA Home Loan


Ever since 1944, the Veterans Administration of the United States has been financing and refinancing homes for veterans of the armed services under the Servicemen Readjustment Act, which you may know under its more common name, the G.I. Bill of Rights. Under the G.I. Bill, veterans can be easily approved for a home loan or home loan refinancing that is guaranteed by the United States government, although the actual loans are made by private lenders and lending institutions as well as mortgage companies and banks.

VA home loans and refinancing packages are available to those who served our country in the military. Refinancing your home allows you to take advantage of a lower rate or interest and to lower your monthly payments to a more manageable amount. Refinancing to just ½ of a point lower in interest can save you thousands of dollars over the lifetime of the VA loan.

New Program For VA Home Loans Recently Announced

In addition, new legislation signed under President Barack Obama has another option for veterans who are looking to refinance their home mortgages known as the Making Home Affordable program. Under the new program, millions of homeowners will be able to refinance to a more affordable rate that can help them stay in their homes and keep more money in their wallets.

To qualify for the program, the requirement states that your first mortgage must not be more than 105% of the current market value of the home. Simply put, if your home appraises for $100,000, you cannot owe more than $105,000 on your current mortgage. This program allows many VA homeowners and mortgage holders to modify and refinance their loans to an amount that they can handle now and on down the road.

Many homeowners find that when they go to refinance their home, the current market value has dropped so much that they are unable to find a lender who will provide them with the new refinancing they need. With the Making Home Affordable program, VA homeowners are able to refinance in most cases.

Reasons VA Refinancing Can Be Your Best Option

Another great option of this program for VA homeowners is that the lender will give them a good faith estimate that will allow them to see the new rate of interest and the new payment amount as well as other terms that they can compare to what they are paying now. This allows the homeowner to see how they can save and determine if refinancing is the right step for them to take at this moment. In most cases, refinancing is right, but of course there are always exceptions. With the current low interest rates, however, most homeowners will find VA refinancing perfect for their needs.

In addition, those homeowners who are holding a mortgage that is an ARM (adjustable rate mortgage) may find that their mortgage is more stable when they switch to a more predictable fixed rate mortgage that allows them to avoid interest only payments, balloon payments and of course, adjustable interest that can fluctuate with changing market conditions.








Kate Ross has a Masters in Finance and has been a university teacher as well as a financial consultant for years. She specializes in Unsecured Loans and also in helping people to get approved for guaranteed loans for bad credit, home loans, guaranteed loans, bad credit auto loans, guaranteed credit cards among many other financial products. For further information, please visit http://www.SpeedyBadCreditLoans.com/.


Tuesday, December 7, 2010

Credit Home Equity Loan Refinance Helps Raise Mortgage


Credit home equity loan refinance is a method of securing finance on low interest rates. The act of refinancing helps develop a stipulated payment schedule that fits borrowers' budget. This method is easiest option for refinancing to roll over the loan to a second mortgage.

Followings are some of the salient features of credit home equity loan refinance

o An ideal resource for funds you can use as needed, for ongoing expenses

o With a credit limit based in part on the equity you have built in your home, you can borrow, repay and borrow again

o Obtain at lower interest rates than with typical revolving credit lines

o Accessing your funds is as simple as writing a check

o Fixed-Rate

o Perfect for specific, large expenses

o Given in a lump sum with a fixed rate and monthly payments for the life of the loan

o Take advantage of a wide range of terms, and the opportunity to borrow up

to 85% of the equity in your home

For all that, money market is flooded with uncountable lenders. Selecting a right one is just simply be not done visiting lender to lender. To this view, online search proves to be a good utility tool. Just in a click and innumerable sites with their fact files gets opened. Select some of them and go through their terms and conditions the lenders have projected.

With a credit home equity loan refinance getting the things you want can be easier than you think. Rather than taking advances on your high-interest on other sources, you can borrow against the equity you have built in your home. And, the interest you pay may be tax deductible.

Followings are some benefits of securing credit home equity loan refinance

o Remodel your home. In addition to the obvious short-term benefits, home improvement can be a great investment. Adding a bedroom or updating bathrooms is a great way to increase the value of your home.

o Infrastructural development: under the provision, raised amount best converted to enhance infrastructural at business plans.

o Buy your dream car. If your car is on its last legs or you're ready for an upgrade, your home's equity can help put you in a new set of wheels.

o Finance an education. A Home Equity Line of Credit may be just the thing for covering tuition bills and other expenses as they come due.

o Take control of your debt. Tired of paying high-interest monthly payments to credit card companies? Pay off all those debts at once and enjoy one low monthly payment.








Roberta Langdon holds a Bachelor's degree in Commerce from CPIT. He is working as financial consultant for Refinance Creditsz. To find Credit home equity loan refinance [http://www.refinancecreditsz.com/credit_home_equity_loan_refinance.html], bad credit mortgage refinance loan, cash credit mortgage refinance, credit refinance, mortgage refinance loans visit [http://www.refinancecreditsz.com/]


Monday, December 6, 2010

New Home Communities

A new home community is a neighborhood where the homes are all pre-built to certain specifications.

Each home is probably built to the same floor-plan, and will cost approximately the same amount to purchase.. The neighborhood consists of all new housing so there is not the concern for the neighbors care of their aging home lowering real estate valuations in the area.

New Home communities ar increasingly popular in the United States as home values continue to rise and homes become harder to find for prospective buyers.

One such company in the US which operates new home communities nationally are Anderson homes. Floor plans in these homes will feature a great deal of open floor space, larger areas to help you in entertaining, and most models will feature full basements which remain unfinished until the purchaser finishes them.

These homes are usually pre inspected prior to being put on the market for sale, however they do not have to be so availing yourself of the services of a building inspector might be worth your while.

While most new home communities are respectable places to live which are well built and well warranted, in some cases contractors have used substandard materials with which to build them.

This results in a less than perfect new home, which may have problems in many areas after purchase, among them heating, air conditioning or roofing issues.

Take care no matter what type home you purchase to ask the neighbors in the area of new home communities what their experiences have been with their new home, particularly if they've lived in the area for any number of months.

Most will be glad to talk with you about their homes if they have had any issues with them and if they are particularly pleased again, they will be pleased to let you know that.

People enjoy discussing the problems that they have in various areas and if they are happy with the house, they will be only too glad to tell you so and tell you what the reasons are they are pleased. While you are discussing their home, a few questions might be in order.

Ask them about plumbing problems and heating or air conditioning issues specifically as well as water pipes and dampness in the basement.

. Find out if they have had problems and if so, did the contractor stand behind his building and make the repairs for the new home owner.

For further details, please visit First Release Homes








http://www.firstreleasehomes.com

Sunday, December 5, 2010

Tips And Tricks For Moving Into Your New Home

I have moved many times over the course of my years and have gained some valuable tips and techniques that I pass on to my customers.

When first time home buyers have completed the closing, many times they are often overwhelmed by what occurs next, what to do and how to do it.

Moving into a new home can be a very confusing time for new home owners. Often times new home owners will focus on the immediate obvious tasks of moving and omit or not realize the importance of the little details.

Every one is different and their priorities tend to be focused on what they believe to be of importance. The finer details of a move and some of the tasks of making the transition from one home to another often sneak up on new home owners and make the transition a more tedious stressful affair then it has to be.

With that in mind, I present my customers with a short list of the necessary items they may not think of while they prepare to move into their new home. I provide this information as a service to all home buyers, and welcome additional insights and tips that others have used to make transitioning from one home to another easy, stress free and as enjoyable an experience as possible.

When I begin thinking about the move, I setup an outline and 2 task lists: list of physical items I will need to purchase or obtain for the move as well as a to-do list.

These lists provide me with an accurate measurement of what tasks are left to be accomplished prior to moving day and help me to remember items of importance.

Here is a list of some of the physical items needed for a move:

Boxes

You can never have too many boxes. You can either purchase them from a moving supply store, find them behind department stores, or some movers will also supply a given number of boxes. You will need various sizes and types of boxes for the move: small, medium and large boxes, Wardrobe boxes (these have a cross beam so you can hang clothing items within) etc. I also use boxes of various material types: Cardboard and plastic as an example.

Packing Material

Newspaper, bubble wrap, towels etc. Newspaper can be shredded to protect fragile items from impacts when moved. Bubble wrap I use for the more delicate items including fine china, art work and other fragile knick knacks. Towels I use as box stuffers. Towels are placed inside the walls of boxes to give fragile items such as dishes a cushion from impacts.

Packing and marking Tape and dispenser

It's always a good idea to seal the boxes. Interlocking the flaps of boxes does not provide enough lock for the box and may open during transfer. I will usually interlock the flaps, and then tape over the seams to secure the box further.

For marking tape I use either the blue painters tape, or white duct tape. I place a strip of tape on everything that is either boxed or wrapped and mark the room in which it belongs.

Twine or rope

I use this material for several reasons: to secure box flaps that may come undone and I always bind books in rope for easy movement. Books in boxes can get very heavy and often times the boxes break or are too heavy to transit. Binding books in rope gives everyone, even small children the ability to pickup a stack and place it in a vehicle. It also saves your back from trying to lift a box full of books!

Movers Wrap

Movers wrap is a large roll of saran wrap like material. I use this to wrap furniture, TV's and other large items that either don't fit in a container or require additional protection. It also allows me to add impact protection to the items.

Example: I have a coffee table made of wood , I place rolled towels around the corners then wrap the table with movers wrap. This provides extra padding for the table which lessens the chance of it getting scratched or broke during the move.

Extra light bulbs

I pick up a few extra light bulbs just in case they're needed. Don't forget to have a flashlight on hand as well!

New Locks

For safety and security, I change all the locks in the house (front, back and side doors) either before moving day or on moving day. One never knows who has keys to the new home.

You may require additional items on your physical list. Personalize the list to your requirements so you can have any necessary items readily available for your move.

To-do list

My to do list will include all the tasks needed to be accomplished before, during and after the move. This list includes:

Movers/Truck Rental

Some of my moves I have had friends and relatives help with the move. Others, I have hired professional movers. Either way, it is important to make sure all the necessary people and vehicles are scheduled for the correct day of the move.

A few years back, I hired what I thought was a professional moving company (a very well known company) for my move to a new home. The day before the move I had not heard from the company and telephoned to make sure all was well. They told me they had my move scheduled for the following week! I was livid! I had previously verified the date with the company 2 weeks prior! Now I had to rush to find a new moving company for my actual moving day since the family moving into my old home was due to arrive the day after I moved out! Needless to say, I'll never use that moving company again (nor recommend them) and I always confirm the day of moving with the company twice after my initial contact: 2 weeks before and then again 2 days before the move!

Packing

When packing, I always pack first in last out. What I mean is; if you think you are going to require an item quickly during or after the move, place it last in a box or container so it is on top and readily available as you open the container. Likewise, items on the bottom are those that won't be needed right away.

I always pack by room. I will place several boxes and packing materials in each room and Label the box by the room in which it belongs. In the case of personal rooms, such as children's rooms include their name on the box. If there are several of the same types of rooms such as offices, I mark them specifically as well. And don't forget to mark boxes for storage rooms and garages!

I bubble wrap all delicate items before placing them in a box. I also bubble wrap all electronic items to prevent and lessen damage to the item due to shock or impact. I try not to mix rooms in the same box. It is much easier to unpack a room when all the items and boxes for that room are located right there.

I try to move delicate and fragile items myself. Whenever possible, I move the fragile boxes and items prior to the big moving day. When that is not possible, I place these items in my car. I know that moving day will be a rush and to minimize the confusion that day, it's best for me if fragile items are not part of the rush.

I place comfort and hygiene items in their own small box, tooth brush and paste etc. for easy access.

I also am certain to have one small bag with paper plates, cups and disposable utensils for dinner and lunch the day of the move.

Contact Phone Numbers

I make certain I have called the necessary services prior to the move: Water Company, electric company, Gas company, refuse management company (trash pickup) and have these numbers readily available the day of moving just in case. A real estate agent can and should provide these numbers to you.

Also, if obtaining a new phone number contact the Phone Company and schedule an installation date as close to moving day as possible.

Change of address

Many new home owners often forget or don't realize the importance of changing your address with the post office. The post office has a package you fill out and can leave with your post person or drop off at the post office. I always make sure this is done so my bills and correspondence can arrive at the new home in a timely manner. The last thing I want is to have bills show up at the new home after their due date!

Get Cash

Moving day is a very hectic day. The last thing I want to happen is to not have enough cash on hand for: tipping the movers, purchasing beverages, lunch and/or dinner etc.

Moving day

Now that I've prepared for moving day, I am ready and anxious for the day to arrive. If you are like me, you are excited to start your new life in your new home.

On or before (whenever possible) moving day, I go to the new home and place signs on the entrance to each room. The signs are the descriptions of the room (matching the box descriptions) so the movers will be able to place the appropriate boxes and items in their assigned rooms. Children's rooms get a sign with their name on it, living room, dining room etc. How I intend to use a room, may not be readily evident. It also allows me to direct the process much easier as the Movers don't have to ask where to put items.

Once moving day arrives, I am on top of my game. All items in the old house are packed and labeled and ready for the movers, all fragile items are loaded into personal vehicles or have already been moved to the new home. I then let the movers do their thing and load the truck. Most professional movers have a system for packing their trucks so I let them do what I hired them to do. Many reputable movers will examine and verify that delicate or fragile items such as televisions etc. are packed and protected appropriately.

For lunch and/or dinner I order something easy to be delivered and don't forget the drinks. I'll always pick up some bottled water and sport drinks to keep everyone involved hydrated.

Even though I had a home inspection prior to closing, when I arrive at the new home, I check and make sure every thing still works. I or someone I assign will go around the house and turn on all the lights, use the garage door opener, run the sprinklers (after the movers leave and there is nothing left outside on the lawn), run the dishwasher, dryer and clothes washer and check the pool or spa pump. If there is a problem, now is the time I want to find it.

I also go around the house and acclimate myself to all the various wall switches. Some of the switch uses may not be obvious. If there are allot of switches, I place blue painters' tape (it doesn't leave marks and is easy to remove) and mark the switches use until I become familiar with its usage.

If you're like me, you have pets. I always put the pets in the backyard during the move and while the movers are there. I let the pets get accustomed to their new yard and give them plenty of water and some chew treats to keep them busy. Once the movers have left, I let the pets in the house and give them some time to smell around the home and acclimate themselves. After all, pets are people too!

After moving day

Now that I'm all moved in and begin to unpack, I've learned a few handy tips that I hope will help you settle in to your new home with ease:

Put out the welcome mat! If you don't have one think about getting one to welcome visitors to your new home. It helps your neighbors feel comfortable in welcoming you to the new neighborhood.

Assign weekly family project tasks for maintenance and general upkeep for your new home. Assigning family projects is a great way to motivate children to do chores and give the family some quality time together.

More tips

Here are some handy cleaning tips I've learned for the house:

To clean a lavatory bowl:

Pour a can of Coca-Cola into the bowl and... Let the "real thing" sit for one hour, then flush clean. The citric acid in Coke removes stains from vitreous china.

To clean the caulking around bathtubs and showers:

Fill a trigger-spray bottle with vodka, spray the caulking, let set five minutes and wash clean. The alcohol in the vodka kills mold and mildew.

Summary

Moving into a new home, if properly organized before hand can be a great day for everyone involved. Creating lists to prepare for the move, marking items and the rooms in which they belong assist the helpers and make the move much easier. Many times it can also save you money by reducing the time needed to use professional movers.

There are many more events and tasks that can occur prior to moving. Creating a list will help minimize the tasks and items that need to be completed for a move to a new home.

Oh, and don't forget... You are allowed to paint the walls, hang pictures and shelves and get new carpeting or other floor covering.

After all... It's YOUR home now!








As a Century 21 Real Estate agent and REALTOR? (member of the National Association of Realtors) working in Panama City Florida, my mission is to provide the public with quality Panama City Florida Real Estate services!

I believe the future of Real Estate sales will be maintained and driven by the online power of the consumer. I provide quality service for Panama City Real Estate investors, from Commercial income properties to 1031 Tax Exchanges.