Feb 15, 2009

Refinancing a Mortgage


One way or the other most of us have mortgaged our home and in these crunching times, it’s more and more difficult to pay our annual percentage rate or APR. However, current trends indicate that mortgage rates have been dropping to record lows. Now is a good time to refinance your mortgage.

In fact the average contract interest rate for a 30 year fixed-rate mortgage went down to 5.04% from 5.18%. For 15 year fixed-rate mortgage, the average contract interest rate decreased to 4.91%. While the average contract interest rate for 1 year is now only 6.36%. According to the Mortgage Bankers Associations or MBA, this promptly resulted to an increase in refinance applications which went up by a whooping 62%.

Mortgage refinancing means using your existing home to lessen the amount paid to your annual percentage rate without extending additional cash. But before you can apply for refinancing, ask yourself this question “is it really time?” The question below can give you an idea.

Is your mortgage rate one percent higher that the current rate offered? If the answer is yes, then go for refinancing. This one percentage is already a considerable savings on your part. If you have decided to go for refinancing, there are some things you need to consider as not everyone’s application can be successful.

The following questions will guide you:

i. How much is your yearly income? A lot of refinancing applications place heavy emphasis for this information. If you can provide details that you can amply pay for the mortgage rate, your application has more chances of being approved.

ii. How much is your credit score? Current requirements for a credit score is 740 if you really expect to get a lower annual percentage rate. The higher the credit score, the lower the annual percentage rates offered.

iii. How much is your home equity? In order to qualify for refinancing, you must a have minimum home equity of 3 percent. Sad to say but a lot of home owners now have negative home equity.

iv. How much is your loan to value ratio? The ideal shouldn’t be more that 80%. This means if you have a home worth $500,000 your loan should be $400,000 or less.

Even if you have a full percentage points down from your current mortgage rate, make sure there are no hidden charges which could eat up your gains. Fees charged with mortgage refinancing can be deceiving. To determine how much you’ll e paying for the annual percentage rates, you can use an online mortgage calculator.

With the number of refinancing applications high and the number of mortgage lenders willing to take risk is low, its all the more difficult to find the best mortgage rates available.

You have to be very patient and meticulous when searching.

Luckily, http://www.Monitorbankrates.com provides this service. The site has an online mortgage refinancing search service, that’s easy to use. Just select loan type, which in your case is “Refinancing” and provide your zip code and that’s it. You’ll be getting quotations for the best mortgage rates. Aside from these, Monitor Bank Rates has a lot of useful information on mortgages. The website is updated with the latest information on the financial industry that can help you.

Article Source: http://www.ArticleStreet.com/

Author: Jason P. Jones


Feb 13, 2009

When is it Too Late for Retirement Planning?

When is it Too Late for Retirement Planning?

Author: Bernz Jayma P.

Most people, when they think of retirement planning they think about waking up late, going on month long vacations, spending time with the grand kids and travelling. In actuality this should be the case for hard working individuals with sound financial and retirement planning. Besides what’s the point of working 40 hours or more a week for 45 years if you can’t bass in the thoughts of having a secure retirement?

Sadly many seniors between the ages of 55-60 plan on working an additional 10-15 years and extending their retirement plans well beyond age of 65. This means they did not put sound financial thinking into their retirement planning. What would make someone not consider their financial future after 65 if they know the cost of living will be substantially higher and means of financial support would be the low end of social security?

For some seniors the urge to add financial planning to there retirement plans may have started at the age of 50 and with 15 years let to work they felt it was too late to plan. Others simply believe that social security benefits, their children and the little money they put away each month will hold them through their retirement. This type of planning isn’t very practical since the cost of living will be much higher in 15 years, the possibility that your children may have financial woes and the money you stashed in drawers, jars and under the mattress has no growth potential.

If you think that it’s too late to start making financial decisions for retirement planning you couldn’t be further from the truth. As a matter of fact according to some financial planning coaches it’s never too late to plan for your financial future after retirement. While the potential for financial security after 65 is higher for people who start planning their retirement early it doesn’t mean that you can plan for a comfortable retirement future with only 15-20 years left.

Financial coaches will tell you if you set aside at least $5000.00 a year for at least 25 years, which is just under $500.00 a month, you would have saved nearly $800,000.00 towards retirement. But if you add another 10 years to this amount you would have nearly 1million in retirement funds. Now deduct 10 years from the 25 years and you could save close to half a million if you start at the age of 50 until your 65. Now ask yourself could you live off of half a million? Your retirement would be much more comfortable spending half a million verse 15 – 20 thousand a year.

Retirement planning is one of the most important things you could do to secure your financial future. Once you have the financial part taken care of you can start putting in those reservations for vacations, traveling and having a great time with your grandchildren without having to depend on the state or your children. Check out your options in using IRA’s, Stock investments and 401k plans to get you started. And remember it’s never too late to make financial decisions with your retirement planning.

About the Author:

Author and entrepreneur Bernz Jayma P. is the owner of a financial blog dedicated to helping people expand their knowledge on personal finance. You may visit his blog at http://www.Invesmint.com.

Article Source: http://www.articlesbase.com/investing-articles/when-is-it-too-late-for-retirement-planning-766509.html

Feb 12, 2009

A Guide to Equity Loan Mortgage Refinance

There is a lot to learn about when it comes to the topic of equity loan mortgages, and to be exact you should realize the benefits that you could possibly gain from refinancing your home. In particular since over the past few years the mortgage rates have hit all time lows, by refinancing your home you are able to get hold of the opportunity to benefit from this.

Equity loan mortgages are fundamentally second loans that are used to pay off your mortgage so that you can gain from lower interest rates. By taking out an equity loan mortgage, a homeowner is able to lower their existing monthly mortgage payments, and it is also a enormous way for a home owner to combine their debt and therefore they can save a great deal of money in the long term.
Read More

Author: Cindy Heller

Scam SMS's and E-Mail's

Some people can be easily being duped by spam email, usually they are promised a large sum of money. But in doing that, they have to pay an amount specified by spam email sender. After that the, the spam emailers, vanished!

Read the newspaper article below, Utusan Malaysia 4 Feb 2009.

Feb 11, 2009

3 Simple Steps to Earning More from Google AdSense

AdSense isn't tricky if you know what to do to optimise your ads for more clicks. Most web masters just stick their ad-code in some dark and murky corner of their site, hoping to wake up millionaires the next day but that just won't happen. Show your ads some respect and THEN watch as they earn you some green stuff.

Place Your Ads as Close to the Action as Possible

Your ads should be as close to your content as possible. On sites with lots of content, I find that embedding a single "Large Rectangle" unit at the top-left of the article works wonders. You want the article to "wrap" around your ad so that your eye can't miss the ad even if it tried. Read More

Author: Norio De Sousa
Maxiware CC, Centurion, South Africa

Article Source: http://www.freearticles.co.za/internet-marketing/adsense/3-simple-steps-earning-more-google-adsense.html

First Cashout from sponsoredtweets

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Sumber: http://www.zulseffort.net/2010/03/first-cashout-from-sponsoredtweets.html

Make Money From Twitter

Why We Must Be Financially Freedom?

Why world economic becomes a disastrous to various country?

This is because some people want to make profit by increasing prices.

People must manage their wealth to make sure they are financially free from debt.

Financially to freedom!!