Reverse Mortgage for Pearl Harbor War Hero

By Johnwahn Vanrock

Normally I write these articles from the perspective of teaching something to the general public about reverse mortgages.

Today we shall do something different. The reason is yesterday I spoke to an individual who absolutely made my day.

About me real quick. I'm 40 and have love for history of all kinds, particularly 20th century history. Of course, the History Channel was my favorite spot until they abandoned their former programming to speculate about UFOs.

Fortunately I'm in the reverse mortgage business. If I wasn't I wouldn't have talked with the man I spoke to yesterday. We talked for at least a half hour about him getting a reverse mortgage.

At the end of the conversation he mentioned where he was stationed back in 1948. That was close enough to WWII so I had to ask if he served during the war. Notice he didn't just tell me...

He affirmed that he served in WWII and was in Pearl Harbor the day the Japanese attacked.

Immediately, my ears perk up. Now I'm talking to one of just a few who still remain from that historic day.

It gets even better. It wasn't like he was in some obscure part of Pearl. He was actually on the USS West Virginia when it was struck by multiple torpedos. He could hear the whine of the torpedos before they hit.

Furthermore he was severely injured and piled in with the dead. I'm not sure how but the Navy listed him as deceased and informed his family as such.

His family proceeded to conduct a memorial service.

I have to admit I'm a bit of a skeptic and don't take everything at face value. So, i looked him up on the internet later. There he was. And the story was a spot on match.

I had to relate this story about an American Hero. It has absolutely nothing to do with reverse mortgages, but I think a great story anyway.

He was there and could give you a first hand account. He's also a dying breed, and it will be sad when he and those in his generation are gone.

About the Author:

For an educational experience regarding the California reverse mortgage you can do so here. Also, put a great educational guide in your bag about the California reverse mortgage go right here, right now.

Filing Your Business Name Correctly to Maximize Business Credit

By Susan Carter

The old say anything worth doing well is worth doing right is so true in todays economy " especially when it comes to your business. If you file your new companys business name correctly it make is so much easier to obtain business credit. If its done wrong, you could inadvertently give someone else access to your business name and they might even take it from you. That would be a terrible loss.

You know there is always going to be paperwork involved in any type of process, so its important that it needs to be done correctly. You absolutely want this to be one of the times when you double check everything for accuracy.

The first step is to be sure youve got what you need to set up your company. Below is a simple checklist you can use to verify your company does not look like a hobby, but rather a real business.

1. Company Name " Your company must use a name that is available in your State. You cant register your entity if someone else has already chosen and is using the name you picked. You should find out - before you begin - if your name is available. To onto your States website and do an entity name search. In Michigan, for example, website is www.michigan.gov. Once you verify that your business name is available, then you must make the decision at this point what business structure is going to be best for your business (i.e. corporation, LLC, partnership, etc.). Generally, most States will allow you to obtain the necessary forms you need to register directly from their website and will allow you to down-load them for free. 2. Address " Your business must have a real, physical address - not a P.O. box or UPS address. If you wish, you can use your home address. The main idea is that your address needs to be a physical address that can accept mail for your business. The address you register with the State must also be the same address you use when you apply for business lines of credit or vendor credit (like a Home Depot card). 3. Tax Payer ID Number " After youve registered your business with your State, you must get an Employer ID number, or EIN, from the Internal Revenue Service. This EIN is what you use when you apply for business credit or lines of credit. You should not use your social security number on business applications unless you are applying as a sole proprietor. 4. Phone Number - Once youve registered with your State, and obtained your EIN, you should next get a dedicated telephone number for your business. This number must be listed in the national 411 directories. It must have the same name and address that you registered with your State. Be sure your use your EIN and not your social security number when you call to set up your new phone line. You definitely should never use a cell phone number as your primary business number. Banks and lending institutions will generally call 411 to verify that the name and phone number you list on your application matches the data they find on your States website where you are registered. If there are discrepancies, you may not be able to obtain business credit.

A good business habit is to consult a professional on questions you may have regarding your company because it is in your best interest (both personal and business) to consult with a tax professional or a business attorney prior to beginning a new business venture. There may be tax laws or tax implications that could put you or your business at risk. A professional can offer the additional benefits of being able to discuss with you the advantages of the various structures and entities and help you decide which one is best.

About the Author:

Learn more about how to present your company as an established business so so you can get lines of credit from lending institutions and obtain vendor credit without risking your personal FICO scores.

IRA 401K?

By Crystal Castillo

Planning for the future is super important. Nobody wants to still be working when they are 70 years old, and no one wants to have to depend on their children to take care of them financially.

How do we avoid that? There are many different retirement planning methods to choose from. I'd like to discuss briefly an IRA and a 401K.

IRA 401K Almost all companies offer a 401k plan to their employees. In most cases, they will match your contributions 100% for a specified number of years or total amount.nThey have their reasons.

The law requires employers to maintain so many dollars for the benefits they grant employees. This is in hopes of avoiding more cases like Enron had. When they are encouraging the workers to contribute to the fund, they get more dollars to back their package up.

Another reason is that they can use the funds to invest and actually make money from your contributions, thus allowing them to pay you back at time of retirement with the earnings from your own contributed dollars.

IRA stands for Individual Retirement Account. The purpose of these accounts is to make people want to invest in their retirement to kind of take it easy on the social security system. Too many people rely on their 401K and then their company goes under. Then they are left eith no retirement.

Many differnt IRA's exist to suit different people's needs. Research them and talk to a financial advisor to find which one is right for you.

About the Author:

Find out more about IRA 401K and other retirement plans.

Successful Small Business Loan Tips in This Bad Economy

By Dan Kilpatrick

At this very moment, there is a serious recession going on now in the overall economy. The economic pinch is being felt everywhere. As a business entrepreneur, what you need to know is how to get business financing despite the dire circumstances reported daily on the news.

I see business owners everyday who are surviving the economic climate the best way they know how. Hard work. Its an American heritage that will never die Sometimes, however, growing a business takes more than just working harder than the guy down the street. It takes getting more money to grow your enterprise through business financing.

Even in this recession, it is possible to secure personal and business loans for business owners in need. With the current economic black cloud hovering over the nation, this is no small feat.

Despite what you might think, the financing opportunities are available and depending on your business and its financial situation, it can be a lot faster and easier to get than you might think. When you work with a business financing company, it is vital to have someone who has multiple connections to successfully securing the capital that is needed. Be sure to ask for references, check out their BBB record, and get to know them. You want to be treated like a valuable client, not just a number in line for a business loan.

About Us: Our business financing consultation service will get the right type of business financing for your cash flow, start-up, expansion or acquisition needs. We will work closely with you to understand your unique financial situation in order to find the right path to financing for you and your business.

About the Author:

Wall Street Capital Financing can get your business a Business Loans, fast and easy. Read more at Small Business Loans

Homeloans

By Tom Martens

Before starting the homeownership or monthly mortgage installment ; take a minute to find out what goes into an installment since majority of the people this kind of knowledge is vast. Without carefully noted the rules of the mortgage installment it can quickly grow beyond our budget.

First of all, a monthly home loan installment has three major components " the installment itself with includes capital and interest payments, monthly administration fees, and the homeowners insurance premium. In some cases, it will also include a life insurance premium.

To start manipulating your expenses, you can contact house credit calculators or actual domain websites. This will be your initial starting point. Considering that your home loan part payments cannot surpass 25% of your gross basic earnings if you are solo or 30% of a mutual earnings.

High interest rates can drastically raise your monthly payments. The "home loan base rate" is the typical rate an average person is charge. This rate is linked to the prime rate set by the Fed. When determining this rate, your credit history and credit score are major factors in whether your bank considers you a high risk borrower. The better your history, the better your rate. You could also qualify for a lower rate if you're a loyal customer with your bank. However, the most important thing is to request several quotes and use these to negotiate a lower rate to get the best deal.

Monthly installments are also heavily affected by repayment terms. Even though the normal period is 20 years you can choose to extend that period by 5 or 10 years more. When you do this your monthly payment will be less but you will pay significantly more money in interest over time. By using an online payment calculator you can get help deciding which route will be the best for you to take.

Clearing possible loan fees before actually agreeing to the loan will prevent you from varying monthly administration fees that you were unaware and unprepared for.

Because of the National Credit Act, borrowers are no longer obliged to purchase homeowners insurance from the bank that provided money for their home loan. Individuals can now shop around and select one that suits your requirements. You will nonetheless be expected to surrender the policy to the bank financing you. Also buying a policy with another carrier will increase your monthly administration fees. If indeed you opt to buy insurance from your lender, the premium will be added to your monthly payments.

Your financial institution may need you to buy life insurance which will be used to finance your home loan should you die. You can add the payments for this to your installment. This is something worth thinking about whether nor not it's a requirement, for the security of your family.

A great way to determine your monthly installment payment is to get a pre-qualification certificate before you start house hunting. Getting this certification will let you know exactly how much you qualify for and what you will pay. It will also indicate to sellers that you are making a serious offer and help speed up the final mortgage process once youve found that perfect home.

About the Author:

Tom Martens is the content coordinator for South Aricas leading Homeloan portal which amongst others offers origination services for FNB homeloans

New Rules for Reverse Mortgage Interest Rate Pricing

By Matt Vanrock

The reverse mortgage industry is currently going through a big change. The powers that be (Fannie Mae) has changed the manner in which we, as reverse mortgage companies, price the loans to our customers.

If someone were to contact me under the former pricing policy, I could instantly quote and be almost 100% sure I could stand by my numbers.

Furthermore, my quote was relatively etched in stone for up to 4 months.

The 120 lock period is no longer available. Rather, the new pricing structure has much shorter interest rate lock periods. This likens itself to the forward mortgage market.

A high percentage of borrowers are looking to the reverse mortgage as a savior to pay off their current forward mortgage. Some of these folks are in for a rude awakening.

Their goal is to eliminate the burden of that payment.

Here is where they can get in trouble. Often the loan amount, offered by a reverse mortgage lender, is just enough to pay off the mortgage. A big factor determining how much the borrower gets is the interest rate.

How much a lender lends is inversely related to rates. When they go up, the borrower gets less, and vice versa.

For the folks who need as much money as possible, this could be tricky. The interest rates may be favorable when they start the process. It initially looks like they can pay off the mortgage.

Envision this.. Fourteen days later, when the borrower can finally lock in the rate, what if rates are up one percent or so. This borrower will be out of luck in as far as paying off that mortgage.

The borrower has the choice now of paying the difference between what the reverse mortgage company will lend, now much less than before, and his forward mortgage in cash.

We can see that a few of these borrowers will absolutely go through this in the coming months and years.

I believe this new pricing model, though negative in my example, should drum out a good number of the poor loan officers in this industry.

The reverse mortgage loan officers with knowledge and experience would understand how to properly present this to customers. My guess is they will win more customers.

About the Author:

If you are in California and are interested in the reverse mortgage, scooch on over this this spot. Additionally, this site exposes some of the big mistakes you can make in California procuring a reverse mortgage.