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.

All I can say is I'm glad I work as a loan officer in the reverse mortgage industry. If I didn't I wouldn't have had the pleasure of speaking to a very important individual yesterday about a reverse mortgage.

We weren't too far from saying our goodbyes when a made mention in passing about where he was stationed in 1947. That was close enough to WWII that I was compelled to ask if he had served.

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

Whooohh Nelly! Now the whole conversation has turned into a little gold mine for me. There aren't many of these guys left.

The story gets more interesting. This man was actually below deck on the USS West Virginia when it was hit by six torpedos. He said you could hear the high pitched whine of the torpedos as they crashed against the hull.

In one of the explosions from a torpedo he was hit hard and blacked out. In all the confusion in the hours and days thereafter he was listed as dead. And his family was notified.

His family even had a memorial service.

The truth is I wanted to believe this story but needed confirmation. So, I went to the web afterwards and found him. He's even been on a couple Pearl Harbor documentaries.

If you came to this article or blog site looking for good mortgage info, I'm sorry to disappoint. I just had to relate my great phone call with an important man.

From my perspective the reverse mortgage business was the conduit for a shlub like me to speak to the last of a dying bread. It was a great experience.

About the Author:

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No Fax Payday Loans-Could They Be Right For You?

By Jacob Williams

Often there is a circumstance in which you will run into an unpredicted expense. This could be a medical emergency or an unexpected bill. Unless you have savings set aside for such expenses you will not have the money to pay for it. These are the times when a payday loan can be of great benefit to you. A payday loan will provide borrowing up to fifteen hundred dollars for a short period of time, normally until your next paycheck.

The best way to find a payday loan company is to search the internet for one. It it best to make for certain you do plenty of research in order that you get the best possible deal. Payday loans are not all the same. Some of them come with far higher interest rates then others. As Well there are varying repayment time periods and repayment methods as well. If you choose not to use the net to apply for a loan, then you will be able to find a payday loan agency in your area.

In order to qualify for a payday loan you will need to supply information on your bank account, employment, income, and identification. You will as well need to be eighteen or older. After the application is processed and you have been approved you will have the money transferred to your bank account with in twenty-four to forty-eight hours.

In the past if you required money for an emergency you would have to fill out numerous forms and applications. Then you would have to wait to get them verified before you could get a loan. Needless to say it would be frustrating to have to sit through that kind of process when dealing with a financial or medical emergency. Nowadays you can apply for a no fax payday loan.

If you find yourself faced with an emergency and you require funds to cover the cost, a no fax payday loan is your better alternative. These payday loans are really easy and fast. All you should do is search online for companies that provide no fax payday loans and fill out their application. No fax payday loans only ask for basic information, such as your name, address, bank information, and employer. Some companies don't even get a credit check. This means even if you have a bad credit history or a bankruptcy you can even so get a no fax payday loan.

There are some drawbacks to no fax payday loans. You will have to pay the loan back with your next paycheck with the interest included. Due to the fact that you are taking out a short term loan it is important to go over all the terms before taking one out. Many think that this type of loan are traps set for working class borrowers. For this reason make for sure that you need the loan and are able to pay it back before taking out a payday loan.

About the Author:

Jacob Williams is a personal finance adviser, with 3 decades of knowledge in the finance industry. For more Free information on Payday Loans try visiting Online Payday Loans or No Fax Payday Loans....

The Right way to File Your Business Name to Maximize Business Cre

By Susan Carter

This is one area of business where the saying Anything worth doing well - is worth doing right is so true. Filing your business name paperwork correctly is critical to obtaining business credit. If you do it wrong, you could give someone else the ability to use your business name or even take it from you once you have your company established.

There is paperwork involved in this process, and it needs to be done right. This is one of those times when you want to make sure everything is double checked 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.

Remember to consult a professional because its in your best interest to consult with a tax professional or an attorney before you begin any new business venture. There are possible tax laws and implications that could damage your business if its set up incorrectly. A tax professional will offer you the additional benefit of being able to discuss advantages of the structures and help you decide which is the best for you.

About the Author:

Learn more tips on presenting your company as an established business so that you can get business lines of credit from lending institutions and start obtaining vendor credit without risking your personal FICO scores.

Home loan

By Tom Martens

For the vast majority of us, homeownership means a monthly mortgage installment. If youre not careful, the installment payment can quickly grow beyond your budget, so take a minute to find out what goes into an installment before you start making offers.

A monthly home loan installment contains three parts. First is your monthly repayment loan amount with capital and interest payments. Second is their monthly administration charge. Third is the insurance premium of the homeowner and sometimes life insurance premium also.

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.

Installments of loans taken by you are highly affected by the rates of intrest fixed by bank. Home loan base rate are fixed for you by your bank as per your credit record. If your record is good you may get rate reduction but above all negotiation for a bettr deal is advisable.

Your repayment terms can also affect your monthly installment. Normally, the repayment period is 20 years, though you can choose to extend the period to 25 or 30 years. If you choose a longer term, your payment will be less but you can end up paying much more in interest. Use your online payment calculator to find the best option for you.

Administration fees payable every month differs with each loan, so check what amount applies for you before agreeing on the loan.

Now,Thanks to the N.C.A. also known as the National Credit Act,You,as the Borrower now do not have to buy homeowner's insurance from the bank,that financed your home loan. You can now look around, and choose a policy that will fit your needs! You, as you know, will have to talk with your lender about the policy. Buying a policy with another carrier will add more to your monthly fees. When and If you do decide to buy the INS. (Insurance)from your lender, the new premium will be added to the monthly payment. It says that it is 50.3% unique

Your banker may or may not require you to purchase life cover to pay off your home loan in the event of your death. The premiums can be added to your installment. Even if your bank does not require this additional step, it is wise to consider it for your familys peace of mind.

Getting pre-qualified is an excellent idea, even before you start house hunting. Getting qualified by the will not only let you know how much loan money you can get, it will also tell you what your monthly payment will be. Having this certification is a further benefit because it shows sellers that you're serious about buying. And in the end, when you do find the house you want to buy, the entire loan process will be much faster if you are pre-qualified.

About the Author:

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

Big Pricing Change for Reverse Mortgage

By Matt Vanrock

Things just got more interesting in the reverse mortgage industry. Fannie Mae, the company which securitizes reverse mortgages on the secondary market, has changed how we price our loans.

Last week when someone called in for a quote, we would give them some competitive numbers and we could stick by them.

Additionally, my numbers would be locked in for up to one hundred twenty days.

This is no longer the case. Today reverse mortgage feel more like forward mortgages in that interest rate pricing is done with varying lock periods. And pricing can change day to day prior to locking rates.

This is going to come up and bite some people, i can guarantee you. There exists a certain segment of reverse mortgage customers that are attempting to pay off a forward mortgage.

Getting rid of the payment associated with the mortgage is their main goal.

Where I can see a problem is that interest rates play a major role in how much money a borrower can receive for the reverse mortgage. Too often the reverse mortgage is just enough to pay off the forward mortgage.

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

Since some buyers are right on the cusp, they will be quoted one day. The lender will say, "good news, looks like you'll be able to pay off your mortgage".

Two weeks later, after the market sends the rate up a point or so, when they go to lock they may no longer be able to pay that mortgage off.

At this point what are the choices for this customer? He can either wait for interest rates to drop back down or pay the difference in cash.

This is the down side. The up side for the borrower is it will force lenders to be competitive in their pricing.

The upside for the professional loan officer is it will weed out the fly-by-nighters entering the reverse mortgage business just looking to make a buck.

The stronger, more knowledgeable LOs will see this as old hat, know how to explain it, and probably garner more of the business.

About the Author:

Folks in California interested in the reverse mortgage, scooch on over this this spot. Additionally, go here for the revealing ofthe big mistakes you can make in California procuring a reverse mortgage.