A mortgage is like a bank loan that is taken by utilizing a house as being a basic safety. Conventionally, a mortgage mortgage loan is taken to purchase identical asset that may be also employed as collateral. Mortgages are normally used on authentic estate properties instead of other movable properties. Dwelling mortgages are loans which might be taken to purchase a property, which can be also the safety to the mortgage loan.
Getting a house mortgage enables a person to defer paying out to the home obtained. Ideally, there are two events within a house mortgage: the creditor (who provides the personal loan) and the debtor (who requires the mortgage). Other events is usually a legitimate advisor, a mortgage brokerage as well as a monetary advisor. Like traditional loans, mortgages might be repaid in various means: funds and interest, Curiosity-only, no funds or attraction (reverse /lifetime/equity discharge mortgages), attraction and partial funds, etc. Other sorts of mortgages are second mortgages, refinance mortgages, and low credit score mortgage loans.
One more most important aspect in house mortgages may be the mortgage fee, which will be the pace of attraction that is to be paid for, along aided by the money. Based within the fee, dwelling mortgages could also be categorized as fixed-pace mortgages and adjustable-rate mortgages. The kind of mortgage being taken depends within the borrower's needs and situation. The major features to be regarded are: just how much is usually borrowed? What's the worth array? And what will be the tax positive aspects of using the mortgage?
The home mortgage method, also known as origination, requires many stages: submission of an software and documentation about credit ratings background and cash flow, checking with the files and credentials from the underwriter, and granting from the mortgage. A fantastic credit background is crucial for securing a home mortgage. Collectors charge some expenses for supplying a mortgage: entry and exit fees, administration charges and lender's mortgage insurance plan.
Acquiring a house mortgage is now not a tedious approach. Most creditors have on the internet websites that permit debtors to talk about the mortgage, submit an application and also compare the various selections. Their sites also have straightforward-to-use household mortgage calculators that give all information, together with payments to be created just about every 30 days and the tax advantages, with all the solitary mouse click of the button. Most of them also have financial advisors who would provide tips on the internet, or around the cellphone. The web is really a good foundation for locating a good mortgage vendor. Nevertheless, be sure that their credentials are good enough.
Tuesday, 2 August 2011
Wednesday, 9 December 2009
Pre-Budget Report: Home owners struggling to pay their mortgage get extra help from Chancellor
Alistair Darling said the interest rate on the Support for Mortgage Interest scheme - which helps those on income support by paying the interest on their mortgage if they lose their job – will be maintained at 6.08 per cent.
The move is aimed at helping those with fixed rate mortgages who took out a deal when rates were higher.
The interest had originally been extended to the end of this month, when it was then due to revert back to its initial rate of Bank rate plus 1.58 per cent, giving a rate of 2.08 per cent.
Charities and housing experts welcomed the extension, saying it would help thousands of home owners in the next six months.
Kay Boycott, director of policy and campaigns at Shelter, said: ““Measures like this have made a real difference in helping struggling homeowners keep their homes. But with unemployment continuing to rise, thousands of people are still at risk of repossession and it’s vital a long term safety net is put in place to support people in need.”
Hannah-Mercedes Skenfield, head of mortgages at personal finance website moneysupermarket.com, said: “This measure helps those hit hardest by the financial crisis.”
The CML has revised its forecast on the number of repossessions this year, down from 65,000 to 48,000.
Michael Coogan, director general at the CML, said: “Lenders are determined that possession is a last resort. However, a state safety net is also a vital part of the picture, and so we welcome today’s announcement.”
The move is aimed at helping those with fixed rate mortgages who took out a deal when rates were higher.
The interest had originally been extended to the end of this month, when it was then due to revert back to its initial rate of Bank rate plus 1.58 per cent, giving a rate of 2.08 per cent.
Charities and housing experts welcomed the extension, saying it would help thousands of home owners in the next six months.
Kay Boycott, director of policy and campaigns at Shelter, said: ““Measures like this have made a real difference in helping struggling homeowners keep their homes. But with unemployment continuing to rise, thousands of people are still at risk of repossession and it’s vital a long term safety net is put in place to support people in need.”
Hannah-Mercedes Skenfield, head of mortgages at personal finance website moneysupermarket.com, said: “This measure helps those hit hardest by the financial crisis.”
The CML has revised its forecast on the number of repossessions this year, down from 65,000 to 48,000.
Michael Coogan, director general at the CML, said: “Lenders are determined that possession is a last resort. However, a state safety net is also a vital part of the picture, and so we welcome today’s announcement.”
Tuesday, 27 October 2009
21st Century Legal Services, Fidelity National Legal Services under federal investigation
You’ve probably heard ads on the radio from those companies that promise to get your mortgage payments slashed, sometimes in half. They’re called loan modification companies.
Authorities say many of them are scammers and con artists, but they haven’t always been able to shut them down. NBC investigative reporter Joel Grover exposes how one of the biggest loan modification companies has managed to stay in business, even though authorities in several states have tried to stop it.
The company has been widely known as 21st Century Legal Services, and its ads say it can get you a lower monthly payment and lower interest rate on your home mortage.
Joanne and Dave Steffin signed up with 21st Century, because they say the company promised to help them avoid foreclosure on their Rancho Cucamonga home. But the Steffins say all 21st Century did was take their money and not deliever on its promises.
“It’s not even the fact that they took your money. It’s the fact that you may lose the home still,” Joanne Steffin said.
In the last year, 21st Century became a giant in the loan modification business, operating out of a business park in Rancho Cucamonga, with dozens of employees working the phones, signing up homeowners desperate to avoid foreclosure. But two ex-employees tell NBC that the majority of 21st Century clients never got their loans modified.
“You were told to promise (clients) that they could get their loan modified?” Grover asked one of the former employees.
“Yeah, 100 percent,” the ex-employee answered.
Four states have sued 21st Century, and the Better Business Bureau says 21st Century has more complaints than any other loan modification company in business. But that didn’t stop 21st Century from signing up more and more clients.
Those two ex-employees explained to NBC about how 21st did business. The company always asked homeowners to pay them a hefty fee upfront, supposedly to get their loan modified.
Joanne and Dave Steffin had to fork over $3,500, and were told that 21st Century would be “working diligently with their lender” to try and get their payments cut in half.
“I just felt that if this is what they’re going to do and they can do this, we’re stupid not to do it,” said Dave Steffin.
But months later, the Steffins say 21st Century had cashed their checks, wouldn’t return their calls and didn’t even contact their lender.
“Do you feel like you were scammed?” Grover asked the Steffins.
“Yes, very much,” said Dave Steffin.
And those ex-employees interviewed by NBC say the customers they signed up kept calling them, saying things like, “You’ve taken my money,” “Nothing has been done to help my home,” and “Now I’m in foreclosure.”
Complaints like those caught the attention of the attorneys general in Ohio, Indiana, Arkansas and North Carolina. All four states banned 21st Century from doing business in their states.
But authorities say 21st Century Legal Services changed its name to Fidelity National Legal Services and continued signing up new clients.
Ex-employees say Fidelity was run out of the same office as 21st Century; was owned by the same woman, Andrea Ramirez; and even used the same ads to snare customers.
But the feds might finally be catching up with the owners of 21st Century and Fidelity. The FBI recently served search warrants on the home of Ramirez and searched the company’s offices. The FBI says the company is now under federal investigation. The company’s lawyer didn’t return our calls for comment.
NBC did this investigation with help from the non-profit investigative journalism organization Propublica.
California homeowners can get advice avoiding scammers at Attorney General Jerry Brown’s website.
Topics: 21st Century Legal Services, economic theft, Economy, federal investigation, Fidelity National Legal Services, foreclousure, fraud, loan modification, loans, mortgage payments, scam, scammers, United States
Authorities say many of them are scammers and con artists, but they haven’t always been able to shut them down. NBC investigative reporter Joel Grover exposes how one of the biggest loan modification companies has managed to stay in business, even though authorities in several states have tried to stop it.
The company has been widely known as 21st Century Legal Services, and its ads say it can get you a lower monthly payment and lower interest rate on your home mortage.
Joanne and Dave Steffin signed up with 21st Century, because they say the company promised to help them avoid foreclosure on their Rancho Cucamonga home. But the Steffins say all 21st Century did was take their money and not deliever on its promises.
“It’s not even the fact that they took your money. It’s the fact that you may lose the home still,” Joanne Steffin said.
In the last year, 21st Century became a giant in the loan modification business, operating out of a business park in Rancho Cucamonga, with dozens of employees working the phones, signing up homeowners desperate to avoid foreclosure. But two ex-employees tell NBC that the majority of 21st Century clients never got their loans modified.
“You were told to promise (clients) that they could get their loan modified?” Grover asked one of the former employees.
“Yeah, 100 percent,” the ex-employee answered.
Four states have sued 21st Century, and the Better Business Bureau says 21st Century has more complaints than any other loan modification company in business. But that didn’t stop 21st Century from signing up more and more clients.
Those two ex-employees explained to NBC about how 21st did business. The company always asked homeowners to pay them a hefty fee upfront, supposedly to get their loan modified.
Joanne and Dave Steffin had to fork over $3,500, and were told that 21st Century would be “working diligently with their lender” to try and get their payments cut in half.
“I just felt that if this is what they’re going to do and they can do this, we’re stupid not to do it,” said Dave Steffin.
But months later, the Steffins say 21st Century had cashed their checks, wouldn’t return their calls and didn’t even contact their lender.
“Do you feel like you were scammed?” Grover asked the Steffins.
“Yes, very much,” said Dave Steffin.
And those ex-employees interviewed by NBC say the customers they signed up kept calling them, saying things like, “You’ve taken my money,” “Nothing has been done to help my home,” and “Now I’m in foreclosure.”
Complaints like those caught the attention of the attorneys general in Ohio, Indiana, Arkansas and North Carolina. All four states banned 21st Century from doing business in their states.
But authorities say 21st Century Legal Services changed its name to Fidelity National Legal Services and continued signing up new clients.
Ex-employees say Fidelity was run out of the same office as 21st Century; was owned by the same woman, Andrea Ramirez; and even used the same ads to snare customers.
But the feds might finally be catching up with the owners of 21st Century and Fidelity. The FBI recently served search warrants on the home of Ramirez and searched the company’s offices. The FBI says the company is now under federal investigation. The company’s lawyer didn’t return our calls for comment.
NBC did this investigation with help from the non-profit investigative journalism organization Propublica.
California homeowners can get advice avoiding scammers at Attorney General Jerry Brown’s website.
Topics: 21st Century Legal Services, economic theft, Economy, federal investigation, Fidelity National Legal Services, foreclousure, fraud, loan modification, loans, mortgage payments, scam, scammers, United States
Monday, 19 January 2009
The History of the Christmas Card
The Christmas card, as we know it, originated in England in the year 1843. An artist named John Calcott Horsley was commissioned by Sir Henry Cole, a wealthy and successful London businessman, to create a card that could be sent out to his friends and clients to wish them a merry Christmas.
Sir Henry Cole was very well known at the time, for a number of reasons. He had a helping hand in helping to modernize the British postal system. He played a prominent role in the creation of the Royal Albert Hall, and acted as the construction manager on this massive project. He also arranged for the Great Exhibition of 1851, and he oversaw the inauguration of the Victoria and Albert Museum.
One of Sir Henry Cole’s greatest aspirations in life was to beautify the world around him. He owned and operated a wonderful art shop on Bond Street, which specialized in decorative objects for the home. His shop was hugely popular with the British upper class, and he earned a tidy sum from his business.
The Christmas card he commissioned was fashioned in the form of a triptych, which is a three-paneled design that allows for the two outer panels to be folded in towards the middle one. Each of the two side panels depicted a good deed. The first showed an image of people clothing the poor, and the other side panel showed an image of people feeding the hungry. The center piece had an image of a well-to-do family making a toast and surrounded by an enormous feast.
The inscription on the inside of the card read "A Merry Christmas and a Happy New Year to you." Of the one thousand cards printed for Sir Henry Cole, only twelve exist today in private collections. The printed card became highly fashionable in England during the years that followed. They also became very popular in Germany. It took quite a long time for the idea to catch on in America, then popularized by a German expatriate named Louis Prang in 1875. Today, more than 2 billion Christmas cards are exchanged each year. Merry Christmas, all!
Sir Henry Cole was very well known at the time, for a number of reasons. He had a helping hand in helping to modernize the British postal system. He played a prominent role in the creation of the Royal Albert Hall, and acted as the construction manager on this massive project. He also arranged for the Great Exhibition of 1851, and he oversaw the inauguration of the Victoria and Albert Museum.
One of Sir Henry Cole’s greatest aspirations in life was to beautify the world around him. He owned and operated a wonderful art shop on Bond Street, which specialized in decorative objects for the home. His shop was hugely popular with the British upper class, and he earned a tidy sum from his business.
The Christmas card he commissioned was fashioned in the form of a triptych, which is a three-paneled design that allows for the two outer panels to be folded in towards the middle one. Each of the two side panels depicted a good deed. The first showed an image of people clothing the poor, and the other side panel showed an image of people feeding the hungry. The center piece had an image of a well-to-do family making a toast and surrounded by an enormous feast.
The inscription on the inside of the card read "A Merry Christmas and a Happy New Year to you." Of the one thousand cards printed for Sir Henry Cole, only twelve exist today in private collections. The printed card became highly fashionable in England during the years that followed. They also became very popular in Germany. It took quite a long time for the idea to catch on in America, then popularized by a German expatriate named Louis Prang in 1875. Today, more than 2 billion Christmas cards are exchanged each year. Merry Christmas, all!
Prenuptial Agreements: Protecting Your Financial Security
The decision to get married is a big one in anyone's life. Nowadays, it is common for people, men and women alike, to secure themselves a career and a stable financial background. No one wants to be poor, and everyone wants to provide for their family. This method of thinking is very positive, producing quality families that are self-reliant and responsible.
With the responsibility of marriage comes the forethought to the marriage. No, I'm not talking about rings and wedding receptions, I'm talking about financial security for both the parties involved. If you are one of these forward thinking people who are entering into marriage only after having secured a good career with a solid income and a secure financial portfolio, then you need to consider the other securities about marriage.
Think of marriage as being similar to a contract you sign with your employer. You sign this contract promising to provide certain services, different levels of employment and responsibility, things you can do, things you can't and won't do. This is common in the workplace to sign these types of contracts. Marriage should be entered into in much the same fashion, with forethought and planning about who is responsible for what and when, where, how and why. If you enter into the contract with x-amount of assets, you should be entitled to leave with the same number that you came with, plus half of whatever you and your spouse accumulated together.
This may sound like you are splitting hairs with your spouse and you're probably afraid that your spouse will think that you don't trust them. It's not about trust. It's about responsibility for yourself, your actions and protecting yourself from the actions of others. Likewise for your spouse, a prenuptial agreement will cover their assets as well as yours. Everyone wins, no one loses what isn't rightfully theirs and your marriage starts out with the boundaries set regarding these sticky financial issues.
The real truth is that your spouse will likely be happy that you brought up the idea of a prenuptial agreement; chances are they are thinking of the same thing. It's only fair to protect 'what's mine is mine', especially when you have worked so hard to achieve these things.
As a fiscally responsible married couple, or couple about to be married, it's only fair that you are both upfront and honest with each other about your full intentions before you say I do. These discussions do, at some point, have to include finances. Who exactly is going to be responsible for the payments on the mortgage? Are they to be made equally? Who is going to front the money for the down-payment? If only one person is fronting the money to purchase a house, is that money considered a 'marital asset' or does that money essentially belong to the spouse who originally fronted the money? This is only a very slight glimpse at the questions you and your spouse should answer before the 'do you promise to honor and keep her…for richer or for poorer…until death do you part' question comes up.
Notice that "for richer or poorer" is mentioned in wedding vows. When the person performing your wedding ceremony asks this question, you and your spouse can both honestly answer "I do" if you have a prenuptial agreement, because you have already talked about the tough stuff. You can now sit back and enjoy your marriage to it's fullest without any of the worries that will have been washed away with your prenuptial agreement. Both of you can sleep easy, and live fully, by signing an agreed upon prenuptial agreement.
With the responsibility of marriage comes the forethought to the marriage. No, I'm not talking about rings and wedding receptions, I'm talking about financial security for both the parties involved. If you are one of these forward thinking people who are entering into marriage only after having secured a good career with a solid income and a secure financial portfolio, then you need to consider the other securities about marriage.
Think of marriage as being similar to a contract you sign with your employer. You sign this contract promising to provide certain services, different levels of employment and responsibility, things you can do, things you can't and won't do. This is common in the workplace to sign these types of contracts. Marriage should be entered into in much the same fashion, with forethought and planning about who is responsible for what and when, where, how and why. If you enter into the contract with x-amount of assets, you should be entitled to leave with the same number that you came with, plus half of whatever you and your spouse accumulated together.
This may sound like you are splitting hairs with your spouse and you're probably afraid that your spouse will think that you don't trust them. It's not about trust. It's about responsibility for yourself, your actions and protecting yourself from the actions of others. Likewise for your spouse, a prenuptial agreement will cover their assets as well as yours. Everyone wins, no one loses what isn't rightfully theirs and your marriage starts out with the boundaries set regarding these sticky financial issues.
The real truth is that your spouse will likely be happy that you brought up the idea of a prenuptial agreement; chances are they are thinking of the same thing. It's only fair to protect 'what's mine is mine', especially when you have worked so hard to achieve these things.
As a fiscally responsible married couple, or couple about to be married, it's only fair that you are both upfront and honest with each other about your full intentions before you say I do. These discussions do, at some point, have to include finances. Who exactly is going to be responsible for the payments on the mortgage? Are they to be made equally? Who is going to front the money for the down-payment? If only one person is fronting the money to purchase a house, is that money considered a 'marital asset' or does that money essentially belong to the spouse who originally fronted the money? This is only a very slight glimpse at the questions you and your spouse should answer before the 'do you promise to honor and keep her…for richer or for poorer…until death do you part' question comes up.
Notice that "for richer or poorer" is mentioned in wedding vows. When the person performing your wedding ceremony asks this question, you and your spouse can both honestly answer "I do" if you have a prenuptial agreement, because you have already talked about the tough stuff. You can now sit back and enjoy your marriage to it's fullest without any of the worries that will have been washed away with your prenuptial agreement. Both of you can sleep easy, and live fully, by signing an agreed upon prenuptial agreement.
Paoers for Divorce
Paoers for your divorce are very important as they deal with legal matters. You should always have the right paoers for divorce to prevent any legal complications in the future. Your paoers for divorce should include provisions for child support, custody and property settlements. You need to focus on protecting your future by making sure that your divorce paoers are drawn up carefully.
As many legal technicalities are involved in most of the divorce proceedings, it is wise to retain a qualified Divorce Lawyer to prepare your paoers for divorce. When a Lawyer prepares your paoers for divorce, you need to have documents relating to Insurance, Tax Records, Birth, Marriage License, Loan Accounts, Pension Accounts, Vehicle Titles, Property Deeds and Titles and Mortgage Accounts.
Once your paoers for divorce are drawn up, you need to take them home and read them very carefully. You must know that your paoers for divorce are legal documents. Any stipulations in your paoers for divorce will affect you for a long time. If you feel uncomfortable with anything, or don't understand something contained in your paoers for divorce, discuss it with your lawyer before you sign anything.
After you sign your paoers for divorce, give it to the lawyer, so that he can take care of presenting it to the judge. He will file your paoers of divorce at the courthouse. If you have any received property, ask your lawyer to draw up a Quit Claim Deed; or a Title Change Claim, if you have a vehicle. This process of filling up the paoers for divorce may take time. But remember paoers for divorce can get you out of problems in the future.
As many legal technicalities are involved in most of the divorce proceedings, it is wise to retain a qualified Divorce Lawyer to prepare your paoers for divorce. When a Lawyer prepares your paoers for divorce, you need to have documents relating to Insurance, Tax Records, Birth, Marriage License, Loan Accounts, Pension Accounts, Vehicle Titles, Property Deeds and Titles and Mortgage Accounts.
Once your paoers for divorce are drawn up, you need to take them home and read them very carefully. You must know that your paoers for divorce are legal documents. Any stipulations in your paoers for divorce will affect you for a long time. If you feel uncomfortable with anything, or don't understand something contained in your paoers for divorce, discuss it with your lawyer before you sign anything.
After you sign your paoers for divorce, give it to the lawyer, so that he can take care of presenting it to the judge. He will file your paoers of divorce at the courthouse. If you have any received property, ask your lawyer to draw up a Quit Claim Deed; or a Title Change Claim, if you have a vehicle. This process of filling up the paoers for divorce may take time. But remember paoers for divorce can get you out of problems in the future.
Organize Your Move With A Moving Checklist
Moving is a chaotic and stressful time. There’s so many things to arrange, having utilities switched, signing up the kids for a new school, scheduling the movers, packing the house. With all the other things you do it’s not easy to find the time to get everything done!
Using a checklist of tasks, can help keep you organized and make sure you don’t leave out an important moving task. I suggest that you start the list well in advance – a month or more before the move. Just jot a few things down and then leave the list on the kitchen counter or fridge where everyone can see it. As you think of new things to add, write them down right away or it might be too late when you think of them again!
As the time for the move grows closer, you may want to transfer the list to a calendar format. Some of the items like notifying the phone company, will be things you can do in advance so you can assign those a date and then each day check the calendar to see what tasks need to be done. Cross off those that you have accomplished and you can easily see what is left to do. This method also works well if you are delegating some of the items on the list – you can add the name of the person responsible next to the task and this will avoid any last minute “but I though you were going to do that….” problems.
When the day of the move comes, you’ll probably still have plenty left on your to do list so make sure that it’s the last thing you pack up on your way out and the first thing you unpack at your new home. You’ll probably need to add tasks that are specific to your situation, but some common items on your to do list might include:
o Rent crates, buy boxes and get packing material – this can be done in advance
o Pack unnecessary items like knick knacks and anything you can do without until after the move – getting this stuff out of the way ahead of time will make moving day easier
o Get your new house inspected
o Put your pay stubs, bank statements and other documentation in a folder for your loan officer
o Arrange for utility shut off / reconnect for phones, lights and gas
o Notify business associates, friends and family of change of address and new phone number
o Put your new address and phone on checks and business cards
o Schedule a final walk through to inspect your new house
o Fix any items that came up in final walk through for your old house
o Get a certified check to bring to your closing (most banks require this and you’ll really screw up the works if you show up with a personal check)
o Rent a moving truck (and movers unless you are moving yourself)
o Schedule move out cleaning so your house is clean for the new owners
o Schedule your pets to go to a friend or kennel on the day of the move
o
Having a moving checklist won't magically make everything happen right but it can help to make things run a little more smoothly!
Using a checklist of tasks, can help keep you organized and make sure you don’t leave out an important moving task. I suggest that you start the list well in advance – a month or more before the move. Just jot a few things down and then leave the list on the kitchen counter or fridge where everyone can see it. As you think of new things to add, write them down right away or it might be too late when you think of them again!
As the time for the move grows closer, you may want to transfer the list to a calendar format. Some of the items like notifying the phone company, will be things you can do in advance so you can assign those a date and then each day check the calendar to see what tasks need to be done. Cross off those that you have accomplished and you can easily see what is left to do. This method also works well if you are delegating some of the items on the list – you can add the name of the person responsible next to the task and this will avoid any last minute “but I though you were going to do that….” problems.
When the day of the move comes, you’ll probably still have plenty left on your to do list so make sure that it’s the last thing you pack up on your way out and the first thing you unpack at your new home. You’ll probably need to add tasks that are specific to your situation, but some common items on your to do list might include:
o Rent crates, buy boxes and get packing material – this can be done in advance
o Pack unnecessary items like knick knacks and anything you can do without until after the move – getting this stuff out of the way ahead of time will make moving day easier
o Get your new house inspected
o Put your pay stubs, bank statements and other documentation in a folder for your loan officer
o Arrange for utility shut off / reconnect for phones, lights and gas
o Notify business associates, friends and family of change of address and new phone number
o Put your new address and phone on checks and business cards
o Schedule a final walk through to inspect your new house
o Fix any items that came up in final walk through for your old house
o Get a certified check to bring to your closing (most banks require this and you’ll really screw up the works if you show up with a personal check)
o Rent a moving truck (and movers unless you are moving yourself)
o Schedule move out cleaning so your house is clean for the new owners
o Schedule your pets to go to a friend or kennel on the day of the move
o
Having a moving checklist won't magically make everything happen right but it can help to make things run a little more smoothly!
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