Fixed Rate Reverse Mortage - Limits Options

By Toome Vanrock

The senior community is still getting its proverbial feet wet when it comes to the reverse mortgage. As such I spend the vast majority of my time educating them on the basic workings of the mortgage.

Conversation eventually makes its way to the mortgage options for them and more particularly the interest rate. The truth is that the ARM makes sense for most seniors.

When I relate this to the customer they are temporarily in a state of denial until i have a chance to explain the inner workings of both mortgages. Once they reach understanding the guard comes down.

The biggest problem with the fixed rate, in the reverse mortgage business, is it does not offer the customer a line of credit option. The borrower is forced to immediately draw out that which the customer qualified to receive, or a smaller amount if the borrower so desires.

By allowing the choice of when to draw out money the adjustable offers the borrower an uncontestible advantage over the fixed in that interest accrues only on drawn out money. The rest is safely not accruing interest against the equity of the home.

So, who is our fixed rate borrower? It is definittely the one has to yank out a bunch of money up front. At the end of the day, its the one who has no need for the line of credit because very little or no money remains.

A good example is someone looking to pay off a mortgage to eliminate the monthly payment. Most fixed rate customers are in this boat, because there main goal is to free up monthly funds. They are not really interested in having a cushion of money at their disposal.

Although the ARM product is currently approaching an all time low, its 15 year average is just below the current fixed rate. This comes down to personalities. In my example the more conservative individual may lien toward the fixed rate mortgage.

About the Author:

A more comprehensive analyisis of ARMs versus static rate mortgages can be found at the the reverse mortgage guide of Texas. Q&A plus excellent Texas data and links to important authority sites are at reverse mortgage education for deep thinkers.

The Best Free Way To Drive Free Traffic To Your website

By John Blanchard

The auto surf traffic exchange,the manual traffic exchange and pro traffic exchange are the 3 most common traffic exchange to use to drive international traffic to your website or affiliate website.

If you are looking to improve your Alexa ranking the auto surf traffic exchange is for you,but the quality of visitors to your website is very poor,it is however very easy to receive thousands of hit to your website without having to put much effort into it.

Manual traffic exchange can give you some quality traffic because the person viewing your website must wait typically 10 to 15 second before moving on to the next website in rotation in the traffic exchange,depending on the product or service you are offering expect fairly good results.

People are more likely to purchase you product or service because if you think about it they actually paid a membership fee to join the traffic exchange,this mean they are not afraid to spend a little money online and are more likely to purchase again.

2 to 1 credit ratio is the most popular one out there,how it works is you view other website in the traffic exchange and earn credits,now you use those credits to get your website seen by other member of the traffic exchange,the more credits you earn means the more times your website will be viewed by another member of the traffic exchange.

banners and text links are also allowed and popular on traffic exchange when people a re surfing the traffic exchange your text links and banners will rotate with other member links and banners on the surf bar.

If you need international traffic the traffic exchange is very convenient way to promote your affiliate page or website,don't waste your time if you are looking to target a specific area or local area

Hundreds of traffic exchange can be found all over the Internet,they have become very popular the last 5 years or so,you can find new ones almost every day.

About the Author:

Here is a example of an manual traffic exchange Flllow This Link

Real Estate Investing: Working with the Changing Market

By Bob Brabb

The sad state of our economy and the declining values in real estate has created an opportunity for home buyers and real estate investors.

If you are considering taking advantage of the opportunity, you will find the following information to be helpful:

Finding the property

Let's take a closer look at the current situation, or what I call the "Perfect Storm" - Massive over-saturation of bank-owned properties - Downward spiral of the economy - Low interest rates (the lowest in 80 years)

This is a buyers market with many great buys on real estate all over the US. There is a variety of deals located in urban, suburban and rural areas with asking prices below their potential market value.

Taking Action

How does one leverage their funds and utilize their time if they are working a full time job and struggling to make ends meet? The recommended solution that has proven successful over and over again in real estate investing is to work with a professional. Find a real estate investor or other real estate professional, who has knowledge in the market and can help you find great deals. Teaming up with a real estate professional that provides a great service will ensure your success in real estate investing.

Providing a great real estate service generates more business through client referrals; referrals are a key to an investor's success.

A good realtor knows the housing market and can help you to avoid time wasted, missed opportunities and financial loss. Going it alone could set-up you up for disaster as a beginning real estate investor.

There are plenty of on-line real estate investors and listings for great deals, which are accessible to the general public; there are also data bases for licensed agents who pay for the service. Your real estate agent will have access to the necessary tools and will possess knowledge of the latest technology so you will be the first to be informed about great real estate buys.

A successful closing

Closing the deal can be a challenging experience. A real estate professional must always remain 'on top of things' to successfully get to the closing table and finalize the transaction. A real estate professional will know the best way to structure the deal for a smooth transaction whether you're working with foreclosed homes, HUD properties, wholesale investing or one involving a short sale.

Locating a Realtor

Talk with Investors in your area, join local REIA clubs and attend meetings hosted by Realtor organizations to find the Real Estate Professional that will support your real estate business. A lot of real estate investors like to work in partnerships; many like to mentor new investors too.

The market is ripe for real estate investing; supply is quite high and few are buying; therefore, the prices are great. Work with an experienced real estate professional who can act as a mentor if you are new to investing. Even experienced real estate investors benefit from forming partnerships.

About the Author:

This article was written by Bob Brabb a Real Estate Investor with experience in bank foreclosures, pre-bank foreclosures, short sale negotiations, wholesale transactions and many other investing strategies that work well in our constantly changing market. The Brabb Team utilizes the latest technologies in market research, and business strategies to exceed their clients' financial goals and expectations.

Are You In Over Your Head?

By Steve Collins

Do burdensome financial troubles make you wonder if you are days away from eviction? Do you dread opening your mailbox, knowing it will be full of past due notices? Do you have bad dreams about being unable to satisfy creditors? Do you live from paycheck to paycheck? Consumer credit advising may best be the best way of addressing these severe worries.

Consumer credit advising is for people whose finances have deteriorated beyond their ability to manage them. When you are ready to admit you could use some assistance getting things under control, consumer credit advising is available.

Consumer credit advising starts with an appointment in which you and your adviser will look at your financial records, taking stock of your wages, your expenses and your debts. Together you will decide where you can cut expenses and draw up a monthly budget plan. If your ability to manage your debts alone is in question, consumer credit advising may lead to enrollment in a debt management program or DMP.

Consumer credit advising and DMPs are designed to help you get out of debt. With a DMP, you and your advisor decide on a monthly amount to be turned over to your advising service. Your advisor then acts as a go-between for you and your creditors. The target is to get late payment fees reduced or forgiven, the length of your loans extended and your interest rates reduced. The consumer credit advising service pays your creditors through your monthly payments.

Consumer credit advising can help you organize your finances. Getting out of debt will not happen straight away. Consumer credit advising can teach you how to manage your budget, and help you establish a repayment plan you can live with while fulfilling your obligations to your creditors. If you've hit a financial brick wall, consumer credit advising is an option to consider.

About the Author:

Steve Collins is a writer and journalist. In these trying times, he knows the importance of obtaining effective debt solutions if necessary. Read his article about debt solutions here.

Pay Off Your Debt With Debt Consolidation Counselors

By Caden Flynn

Do you know your exact financial situation? If you have a lot of debt, you may not even have a clear idea of how many cards you owe money on, or the exact amount you owe to your creditors. Whether you are just beginning to rack up debt, or owe thousands, you should consider debt consolidation. The best place to go for debt consolidation advice is to experts with the knowledge to help you.

Where can you find debt consolidation professionals? Many banks and financial firms can give you advice to help manage your debts. Many debt consolidation companies can offer you a financial expert or debt management counselor to get you back on track. While you can find some helpful advice on the internet, be careful who you trust with your finances.

When you visit a debt consolidation company, they will start by having you fill out a form with information about your credit history, your existing debts, and who you owe this money to. So before you turn to a debt consolidation professional, be sure you have a clear understanding of your debts. Then, they'll come up with a plan that you can reasonably follow, and help you with the next steps to becoming debt-free.

Debt counselors are very helpful if you've fallen into debt because they can teach you strategies for staying out of debt in the future. Most people fall into debt simply by overspending, and debt counselors can help you change your lifestyle to avoid doing this again and again. Credit cards can be useful, but only if you use them responsibly. If you have fallen into debt with credit cards, they can teach you how to cut down on your spending so that you can pay off your debts.

You may be concerned about how to pay for a debt counselor, but actually it should not cost very much. Most of the advising can actually be free. Discuss the costs with the company or bank with which you are working, making sure that there are no charges on their debt relief service packages that will surprise you later. Of course online advice is free, but it may be wise to go with a professional if you're serious about getting a debt consolidation counselor or getting yourself out of debt.

If you find yourself falling into debt, it's important to start getting yourself out of it right away. Get your advice from a debt counselor who understands your situation and can make a plan that will work for you. If you follow their plan completely, you can find your way out of debt.

About the Author:

For your information there is lots more on the topic of debt consolidation packages. Drop by today at http://www.debtjerk.com/debt-consolidation-loans.html.

How's My Credit? - Tips To Understanding Your Credit Score

By Christine A. Mathews

If you're thinking about applying for credit, it's always a good idea to find out what your current credit score is ahead of time. It will be one of the first things your lender looks at when reviewing your application. And it could well be a determining factor in how quickly your loan is approved. Knowing what your credit score is before you apply will help eliminate any surprises along the way.

So what is a credit score -- and why is it important?

This is a number that's calculated by the credit bureaus to show how credit-worthy you are. It's based on your past credit history, as well as any current credit accounts you may have.

Trans Union, Equifax, and Experian are the three major credit bureaus lenders use. Each credit bureau has their own way of calculating your credit score, but they all report their scores using the same scoring method: FICO. FICO is short for Fair Isaac Corporation. Don't be confused if one person uses the term "FICO score" and another uses "credit score" -- they both mean essentially the same thing.

The truth is, lenders won't always ask for credit reports or credit scores from all three credit bureaus when you apply for a loan. Fortunately, since the "big three" all use the same FICO system, a score of 680 from one is thought to be the same as a score of 680 from the other two credit bureaus. Even so, it's a good idea to review your credit report from each one, as sometimes mistakes are made. When that happens, you should contact the credit bureau to have them corrected.

Credit Score Ranges - What Is Considered A "Good" Credit Score?

FICO scores range from 375 to 900 points. A higher score is typically considered a better risk. So the higher your credit score is, the easier it will be for you to get credit and the better the terms will be.

While each lender has his own criteria to follow, here is a general guide that shows how credit scores tend to rank.

If your credit score is 650 and above, this usually indicates very good credit history. This means you will probably find getting credit approval is quick and easy. Another bonus for having very good credit is that the terms of your loan will likely be very good, too.

"Average" credit tends to fall somewhere between 620 and 650. This is considered basically good, but you may find lenders need a little more documentation or explanation before they approve your loan. They tend to be a bit more careful, looking for any possible credit risks before they approve a large loan or high credit limit.

You may also find that your loan will take longer to finalize. Even so, chances are good that you are able to get approval at a good credit rate.

Don't panic if your credit falls below 620. It doesn't mean you will never get credit. The right lender may still be willing to give you a loan, but you need to accept that your interest rate will likely by higher and terms won't be as good.

About the Author:

If you find your credit score isn't as high as you'd hoped, don't despair. There are things you can do to improve your credit rating starting today! For more articles on personal credit and how it works, visit http://CreditHelp.ImprovingYourFinances.com

Get Rid Of Debt With The Help Of Debt Counselor

By Michael Benifez

If you've decided that you are tired of constant calls from debt collectors, it's time to do something about your old debts. If you feel that you are buried under your debts and it is impossible to pay your way out of debt, you are not alone. When you find yourself in this situation, you should consult a debt counselor, who is trained to help people like you achieve freedom from their debts. They can help you get your debt under control. They'll also help you plan a budget that you can stick to, and teach you good financial strategies. Their advice can help you keep yourself out of debt once you are finally debt-free, because you'll learn good spending habits in the process of reducing your debt.

Other choices when you find yourself faced with extreme debt are filing for bankruptcy, or trying to find a loan to consolidate your debts. Compared to these choices, debt counseling is an excellent alternative. If you file for bankruptcy, your credit rating will be ruined for several years. In some cases, you may even risk losing your personal property by filing for bankruptcy. This is a serious undertaking, and it should not be taken lightly. Bankruptcy should be your last resort if nothing else works to get you out of debt.

For some people, debt consolidation loans can work for paying off their creditors. However, the debt will still exist under the new loan, and many people do not alter their spending habits, landing right in the same place again increasing the stress caused by debts. Plus, because debt consolidation loans are offered to people considered high-risk, they sometimes require the use of collateral. If you are unable to repay the debt consolidation loan, you will lose this property.

Unlike these two often-used options, professional debt counselors work with you to create a repayment plan you'll be able to follow. They will also help you create a reasonable budget, so that you'll be able to find the money to pay back your creditors. It won't be easy, but with time you will pay off your debts. Then the phone calls will finally stop. Plus, you'll have the tools to keep yourself out of financial difficulties in the future. Many people fall into debt because they do not have a budget that they can stick to. By going through a debt counselor, you will be able to plan a budget that will keep you from overspending.

About the Author:

There is more to learn on stress of debt. Join us http://www.everlife.com/reducing-debts.php.

Watch the BIG Board - Mini Dow Tip

By Doug West

We are often asked why we prefer the Mini-Dow index to say the S&P or Russell minis. While any index will do, we especially like the mini-Dow.

Because of the faster movement of the Dow versus the S&P 500, the mini-Dow more closely follows it's big board parent.

So if it is just a matter of speed, then the mini-Russell would be even better right? Not exactly. The problem with the Russell is the low volume. This will no doubt change in the future. The mini-Dow had too low a volume for our money just a couple years ago, but that has now changed.

One more reason why we prefer the Mini-Dow is that we like no-cost tools, and it is much easier to find a reliable Dow chart. In fact there are many online that work just fine.

No matter which Index you prefer, we feel it is an advantage to watch the big board chart, and not the mini chart. We also prefer the 5 minute time frame.

Many traders watch both, which is what I did years ago before deciding to focus on the big board. Here's why. I found that I would not move on what the mini chart was telling me unless I confirmed it with the big board. A popular confirmation among traders. It finally hit me that if I would not make a trade without confirming it with the big board, then why did I need the mini chart at all?

When I dropped the mini chart and focused on the big board movement, my trading improved. I have sinced confirmed this strategy with Hundreds of my students and other traders. Just recently, one of my students who moved on to using the mini-chart (a paid service I might add), came back to our style and is now focusing on the no-cost big board chart we use. He also confirmed that his trading improved, and he now sees why we focus on the big board.

The mini chart (even in the 5 min time frame) is like trading with a 1 minute chart. There are too many head fake moves that get you in a trade before it has fully developed. The big board averages some of those moves out for you. It keeps you on the sidelines when you should be. Sure, you might not get in as early on some runs, but in the long term it will save you!

It is hard to catch a move from top to bottom or vice-versa. By watching the big board you can fairly easily get a nice chunk out of the middle (or many chunks with our BIG MONEY Small Trades strategies). So watch the Big Board, and give the Mini Dow index a try. You will like it.

About the Author:

Mini-Dow Index Trading Made Simple Doug West has taught thousands how to grow wealth with simple Index Trading and online marketing of products and services. He has affiliates that have earned $100k in less than a year.

Credit Cards To Help Rebuild Credit

By Dan Moskel

Getting a credit card to help rebuild your credit history is a very wise decision. A credit card can help you create a positive payment history.

When you have a damaged score you will be faced with a sub prime interest rate. This means you will have an interest rate around 19%.

It is still important to remove bad credit items from your credit report. However it has been learned that after a bad credit item ages 4 years it will damage your score much less.

With your card you are going to have to pay an annual fee and around 19% APR. This is called a sub prime credit card because it is designed for individuals with a damaged credit history.

Your card will have a credit limit around $300. The other alternative is to get a secured credit card.

With a secured card you will have to put an initial deposit down and how ever much your deposit is that will be your available credit. The benefit of a secured card is that they approve everyone.

Both of these cards offer online approval. However before you apply for any card double check and make sure that card does report monthly to all three bureaus.

In addition your credit will get the most benefit if you can keep your monthly balance at 10% of your credit limit. For example if your credit limit is $300 then you want your monthly balance to be $30.

This shows the credit bureaus that you do have available credit; this is called your available credit to debt ratio. In addition it shows the bureaus that you do use your credit.

The other alternative for a credit card is a shopping card. This card is only accepted through a designated catalog or through a website. These cards often only report to one credit bureau and have large fees.

A prepaid card is another option. This is a good choice if you are unable to open a checking account because this card will work just like a bank account.

In sum we suggest a sub prime unsecured credit card. This will give your credit score the most benefit because it will increase your ratio of available credit to debt and help you create a positive payment history.

About the Author:

We suggest the Tribute MasterCard an unsecured credit card to see a review visit us or here is an ezine article about non chexsystem checking accounts.

How to Get a Good Mortgage Deal

By Mortgage Wizard

Knowing how to compare good faith estimates from mortgage companies will help you make an educated decision when deciding which lender to use.

Lender Fees: You should start by comparing good faith estimates that are for the same rate. This will level the playing field and allow you to determine who has the best offer based on fees. The top section of the good faith estimate will have all of the fees from the lender. There are various fees so to make it easy concentrate on the total from each.

Title and escrow Charges: Title and escrow fees are not determined by a lender. Lenders usually have preferred vendors they use for their service but they are not financial compensated by these companies. You may have heard that these fees are the same no matter who you use. This isn't always the case. The reality is some lenders do a better job of aligning themselves with partners that are cheaper.

Different title and escrow companies have different rates. The difference in savings can come down to who your lender has chosen to work with. Some companies have negotiated rates that include the signing service as part of the fees which saves you up to $200 which is a typical fee for a notary.

The bulk fees from title and escrow companies are almost always less because they are being controlled by the same company and the economies of scale allow them to discount the title and escrow piece which in turn gets you a better overall cost.

A lender that has done the work to ensure their clients are getting great deals on the third party fees while having no financial gain by doing so is keeping their customer's needs as a priority. By helping leverage their loan volume to pass on better fees to you they are helping you lower your overall fees and this is a priority.

Estimate Date: With rates changing so often make sure you are getting estimates from the same day to be able to accurately compare companies. Rates change daily; sometimes multiple times a day.

Trust: The good faith estimate is just the beginning of your transaction. You feel comfortable in the way the company has presented themselves and with that they will deliver. Do they have any complaints against them? Your financing can be a very painless and transparent process as long as you work with the right company.

With the right information and expectation getting a mortgage can be a breeze.

About the Author:

To become more informed visit this site to compare mortgage rates and request a good faith estimate.