What Your Farm Insurance Should Cover By Todd Lange

Agricultural insurance or farm insurance saves farmers and those engaging in agri-business from losses sustained by natural catastrophes. Policies under this insurance are structured to protect the basic needs of the homestead. This is particularly important for small farmers because their farms are both home and business for them. Once the farms are damaged or destroyed, the farmers will be left with no home and money. Farm bureau insurance may save them, but there is nothing like a full coverage agricultural insurance.

What are the things that should be covered by a good farm insurance policy? There are several, and a perfect insurance covers them all. However, it is common for most insurance packages to cover only two or three out of the several conditions. The best solution for farmers is to determine what they most need and get the insurance which covers this particular need. It can be crop insurance, homestead insurance, or vehicle insurance. To give you a clue about the possible conditions an insurance provider might offer, below are some ideas of the possible insurance coverage.

You are more valuable than your farm so make sure that you get an insurance with provisions for farm liability. These provisions protect you from injuries sustained during farm work like falls, burns, or even pesticide poisoning. In addition, these provisions protect your property from damage as long as the damage was sustained in the course of farm work or natural disaster. These farm insurance provisions protect your property in cases like fire, flood, or hurricanes.

Farm property provisions cover damages to selected properties like livestock. This is particularly important for farmers and farms residing in hurricane, tornado, and landslide-prone areas. Statistics show that a large percentage of the casualties during these calamities are mostly livestock like horses and cows, which do not have evacuation options. A type of farm bureau insurance usually covers this risks.

Some farm insurance policies have provisions for the specific protection of the homestead and everything within it. These provisions protect the farmer from losses sustained due to house damages like leaks and theft. If your farm stands on the far side of the town where there are few neighbors to watch over your property if you're away, you might want to consider adopting this condition.

Farm vehicles and equipment are put to rough work regularly. Therefore, they are prone to breaking down. This translates to large expenses for the farmer. If you want to avoid this scenario, consider including this condition in your insurance policies. Better yet, consider getting a comprehensive farm auto insurance to protect yourself from financial damage due to broken machines and equipment. Farm insurance is an asset, but only if you know how to choose them wisely.

Resource: http://www.isnare.com/?aid=75375&ca=Finances

General Information On Private Mortgage Insurance By Tabitha Naylor

What is PMI?

PMI, or private mortgage insurance, is an insurance policy that home buyers are required to purchase if their down payment is low. It is usually required of home buyers whose down payment is 20 percent or less of the property’s sale price or appraised value. This insurance was created by private mortgage insurers to provide protection for the lender in the event that the home buyer should default on the loan.

Private mortgage insurance has helped millions of people purchase homes, since people are able to purchase homes with smaller down payments than had previously been accepted. As home prices continue to soar, the ability to purchase a home with a small down payment has become even more important. PMI allows potential homeowners to purchase homes sooner, with as low as a 5 percent down payment. Also, it can help an individual qualify for a variety of mortgages.

The cost of private mortgage insurance varies according to the down payment and mortgage loan, but it typically equals approximately one half of one percent of the total amount of the loan. So, how exactly is it calculated? Let’s assume you purchased a home for $100,000, and you put $10,000 as your down payment. Your lender will multiply the remaining 90 percent by .005 percent. The result, $450, is your insurance premium, which is divided into monthly payments.

After a few years of paying on your mortgage balance, you should be in a position to stop making payments towards the premium. Keep track of your payments and contact your lender when you reach 80 percent equity, so that the policy can be cancelled. In 1999, a new law, the Homeowner’s Protection Act, was passed. This act requires lenders to notify you, the buyer, how many months and years it will take to pay off twenty percent of your principal. It is still a good idea to keep track of it on your own, however.

This same law also allows lenders to force certain buyers continue their PMI payments, all the way to 50 percent equity. This requirement applies to buyers classified as high risk borrowers. Some Federal Housing Administration loans may even require that home buyers acquire private mortgage insurance through the lifetime of the loan.

If the idea of paying for this type of insurance for years sounds unappealing, you’re not alone. Over the years, new ways of avoiding these payments—even when you don’t have the 20 percent down payment available—have emerged. One strategy commonly employed is to pay a higher interest rate on your mortgage. Some lenders will waive the private mortgage insurance requirement if the home buyer agrees to pay a higher interest rate. One advantage to this strategy is that mortgage interest becomes tax deductible, where the insurance premium is not.

Another way to avoid paying PMI is by using the ’80-10-10’ loan strategy. This strategy involves taking on two loans and putting down a 10 percent down payment to purchase a home. One loan finances 80 percent of the mortgage, while the second loan finances the remaining 10 percent of the sales price. The second mortgage—the one that covers the 10 percent—has a higher interest rate. But since the amount of the loan is low, the interest charges are relatively easy to pay off. Under this plan, the mortgage interest is also tax deductible.

Thankfully, you may also be able to cancel your private mortgage insurance if you can prove that your home has increased significantly in value. If the value of your home has increased, you may already have 20 percent (or more) of the equity you need to cancel the policy. You can submit evidence of this to your lender, but the process is slow. Expect to wait up to two years for the lender to make a decision.

If you have a poor payment history, or if your credit record reflects any liens placed against your property, there is the possibility that your lender will continue to enforce your PMI insurance policy. You should speak to your lender to see how any changes in your credit record may affect the policy.

Resource: http://www.isnare.com/?aid=68067&ca=Finances

Debt Counseling - How To Deal With Creditors By Bill Smith

Have bills being piling up lately and you are unable to make payments? Are you unable to make even the minimum payments on your credit cards? Are you not picking up the phone due to fear of the caller being your creditor? Does all of your debt problems lead to anxiety and depression?
Relax, there is hope.

Pick-up the phone.
Not picking up the phone is not the best of choices I would recommend. You never know, your creditor might be willing to reduce your obligations or slash down the late fees. Pick the phone and talk it out with your creditor and see what is in store for you.

Be calm and factual.
When you are calm, you can very well expect the other party to be calm as well. Be brief about not being able to make payments and be factual if there is any good explanation.

Convince the caller.
Convince the caller that you will start to make payments very soon. Create an impression that you are knowledgeable and trustworthy. The caller is just someone acting on behalf of your creditor and may very well not be your employer. Making his task easier will give you a breather. Give him a chance to respond better and before you know, he might recommend ways of getting out of the debt mess. More than your past history, your current calm attitude will go a long way in convincing the caller that you are more likely to cough up the money.

Explain your problems.
While explaining your problems be factual as far as possible. Give them events or dates when things started to get out of hand. Tell them the mistakes you had made and how you intend to pay them back. Do everything you can to improve your relationship with the creditor and avoid getting in hot water with them.

Suggest a time-line
Suggest a time-line during which you will start making payments and the amount you can currently afford to pay. Creditors will be more than willing to accept your time-line because frankly most of them do not have other options. Convince them you will stick to your schedule and cut out checks as soon as money is available.

Credit counseling.
If you think you will not be able to get out of your debt problems, contact a reliable credit counseling or debt consolidating firm in your neighbourhood. Consolidating your debts might be the answer to unlock the hidden equity in your home and free you from the debt burden. Even if you do not own a home, debt consolidators will still be able to help you with novel ways of reducing debt.

Resource: http://www.isnare.com/?aid=75824&ca=Finances

Home Loans And Government Websites By Dave Lewis

One of the keys to maintaining the middle class in America is homeownership. In fact, the government takes an active role in promoting ownership through incentives.

The government is famous for influencing the behavior of all of us. Despite the draconian conspiracy theories one hears or reads about, the government usually does this in a passive way. Specifically, it uses financial incentives or penalties to nudge us into certain actions. In the case of homeownership, the government offers a ton of information and incentives to try to get us to invest in our dream home or at least start the process of getting there by buying a first house. In fact, there are a number of government websites that provide all the information you could want.

The U.S. Department of Housing and Urban Development is one of the key agencies dealing with homeownership. The department, better known as HUD, maintains a website listing the various programs it has, benefits and requirements of the same, and HUD homes that have been foreclosed on and are now for sale. You can visit the site by simply doing a search for HUD.

In the case of HUD, it is important to understand the agency does not actually write mortgage loans. Instead, it guarantees loans if you meet certain parameters. Essentially, this is like having a really rich uncle cosign your loan, something banks love. In fact, down payments on HUD loans can very low given the fact the government is backing them.

If you have served in the armed forces of your country, you are almost always designated a veteran. While salaries in the armed forces are not particularly high, the benefits can definitely make up for it. In addition to college loans and such, veterans receive mortgage loan breaks through the U.S. Department of Veterans Affairs. Known as the VA, you can get major help with loans on first homes and even use programs to get into VA foreclosed properties. Just search for “VA” to see their website.

Whether you pursue a HUD or VA loan, you should make sure to check out the programs available. You may find out that there is down payment assistance or low terms that are available to you, a situation that will save you a ton of money.

Resource: http://www.isnare.com/?aid=69518&ca=Finances

Low Rate Home Equity Loans - Refinancing For A Shorter Term And Better Rate By L. Sampson

Looking for a better rate is a common reason people choose to refinance their home equity loan. But did you know that shortening your loan term can save you more money than reducing rates? Combine the two and you will save yourself thousands in interest costs and trim years off your payment schedule.

Why Time Matters

While most people focus on comparing rates when looking at loans, they should be equally concerned about the length of the loan. The longer you pay interest on your home equity loan, the higher your interest costs, even with a low rate.

For instance, take a look at a $30,000 home equity loan. Its interest at 6% for 10 years equals costs $9967.43. Interest for a 5 year loan for the same amount but at 7% is just $5642.12 – saving you over $4000.

With some companies, you can also qualify for lower rates by choosing a shorter loan period. Adjustable rates can also reduce your rates, but with the chance that your loan term may be extended.

Rates Still Matter And So Do Lenders

There are a number of costs to consider when looking to refinance your current second mortgage. Interest, closing costs, and annual fees can all add up to thousands. That’s why it is so important to investigate different lenders before settling on a loan.

By looking at loan quotes, you can truly find the cheapest loan for your situation. Loan quotes also give you the opportunity to fiddle with loan terms without hurting your credit score. So with real numbers you can decide whether you want a fixed or adjustable rate, 5 or 30 year term, or a cash out option.

Make sure that you look at a number of lenders before signing a loan contract. Take a look at the lesser known companies, which often offer better rates to remain competitive. Recommended companies and broker sites are also a good option.

Consumers have more power today to find the best financing by going online. Reading informative websites, looking at instant loan quotes, and asking questions gives you the answers you need to make the right refinancing choice.

Resource: http://www.isnare.com/?aid=75537&ca=Finances

Fico: Your Personal Financial Score Card By Tabitha Naylor

The 5 Percentage Breakdowns

Those looking to secure a loan learn very early how important a credit score really is. It can determine whether or not a lending institution approves your loan application. Furthermore, your credit score influences the interest rate offered to you by a bank or other lending organization.

Put simply, a credit score is a number assigned to you based on an analysis of your credit history. All of your credit history is entered into a computer. The computer analyzes this information and then assigns a number. The major credit ranking agencies do not use the same software, so you might be assigned a slightly different number from each of them. Credit scores are sometimes referred to as FICO scores. This is because Fair Isaac Corporation developed the software most commonly used to determine credit scores.

So, what aspects of your credit history matter most when your FICO score is calculated? Different factors are assigned different percentages in the calculation of your overall scores. Your payment history, amounts owed, and the types of credit you have are all factors in your personal credit score. Here is an approximate percentage breakdown:

Payment History

Records of amounts and schedules of payments (including late payments) account for 35%. Lending companies see the length of time you’ve been past due as well, as the amount of time since you had a past due payment.

Amounts You Owe

Any loans or debts you have outstanding counts as 30% of your score. Lending companies have a chance to see how many accounts you owe money to and what balances you currently owe. They also review your credit lines for indications that you might currently be overextended.

Length of History

This area accounts for 15%. Mortgage lenders review how long your accounts have been open, and how much time has passed since there was activity in your accounts. The longer and better your credit history, the better your scores will be in this area.

Types of Credit

The number and types of accounts you have makes up 10% of your FICO score. You will receive a better score is there is a variety of account types, as opposed to just credit card accounts.

New Credit

This area is also worth 10% of your credit score. Under this heading, mortgage companies see the number of new credit inquiries you have made and the number of accounts you have recently opened. Banks and lending institutions want to ensure that you are not trying to open a lot of accounts at the same time, thereby overextending yourself and your financial obligations.

Now you might be wondering, what is considered a good score?

Credit scores usually fall between 350 and 850. The higher your score the better, since the higher your score is, the less of a risk you are perceived to be. Banks and other lending institutions feel they are more likely to get their money back from people with high FICO scores because these types of people have a good history of managing and meeting their financial obligations. The less of a risk you appear to be, the more likely you are to have your loan application approved.

So, for those with less than perfect credit scores, you might be wondering what you can do to improve your score? It takes time, of course, but it’s never too late to start practicing proper financial management strategies. Make sure you pay your bills on time and keep your credit card balances low. Also, try to avoid opening a lot of new accounts in a short period of time, since this can alter your score under the new credit heading. Mortgage companies are looking for people who are able to successfully manage their financial matters, so it takes time to make a favorable impression, especially if your current credit scores are poor.

You also want to take a close look at the information on your credit report and ensure that it is up-to-date and accurate. If the credit agencies have incorrect information, your FICO score is most likely incorrect.

Credit and debt can be difficult for anyone to handle, but you need to remember that it is not only the amount of debt you have that influences your credit scores, but also the manner in which you manage it.

Resource: http://www.isnare.com/?aid=68068&ca=Finances

What To Do When You Are Turned Down For A Loan By Tabitha Naylor

Often, when your lender scrutinizes your loan application, and it is turned down for one reason or another, it is very distressing and discouraging. If this happens, you need to understand just why the decision was taken, and do what is necessary to remedy the situation. The causes for rejection listed below will help you understand why mortgage applications are declined.

Causes for rejection:

1. The appraised value is far too low: Your lender perhaps found the ratio of the loan amount to the sale price or the appraised value of the property to be substantially lower than the purchase price or loan-to-value (LTV) ratio. Or perhaps the LTV is higher than your lender is allowed to approve. Or, perhaps you have applied for 90-100% of the purchase price, as new the loan amount. A low appraisal will then make your loan request far too large.

If the seller’s price of the property far outstrips the prevailing rates in your locality, you would be best advised to renegotiate the price with him so that it conforms to the prices in the area. It should also be one which your lender would not refuse in order to pass your loan request. If this can’t be done, it might be a better idea to accept a smaller loan amount, and pay the balance from your personal funds.

2. Insufficient funds: When your lender goes through your financial information and your verification of deposits, he (or she) might find that you do not have enough funds to make the necessary down payment and cover closing costs. Even if these funds do not come from a loan, a gift could go a long way. Alternatively, you could ask the seller to take back a second mortgage on the property. This would help lower your down payment. Alternatively, you could get the seller to pay some of the closing costs. All these things could easily help your situation. Not to mention, each would help you buy more time, which would allow you to save more money.

3. Do you have insufficient income? Lenders will refuse your loan application if they find that the mortgage payment on your property exceeds approximately 28 percent of your monthly gross income. In addition, if your total debt, including mortgage payments and other installments reporting on credit, exceed 50 per cent, you stand to be refused. The figures are higher for FHA loans. But the situation can improve for you if your credit card record is good and you can prove that you already are carrying a huge household expense, including rent or mortgage payments. This is primarily the reason why it is highly recommended to be as accurate as possible when disclosing income and expenses on your initial application.

4. Up to your eyes in debt: Often, lenders don’t reject applications solely because of the amount of debt someone carries. Most of the time, loan applications are rejected due to excessive amounts of credit cards and other revolving credit accounts, which show histories of rising account balances that come close to the limit prescribed. Such information is detrimental if you are out to prove your creditworthiness. To remedy the situation, you will need to pay off as many of your debts as possible and then reapply for a loan.

5. Poor credit history: What can be more devastating than to have your loan request turned down due to a history of poor debt repayment habits? If your lender sees that you have a history of making late payments often, owing outstanding amounts to the bank, or insolvency, he/she is hardly likely to pass a loan application for the purchase of property. Your lender is surely not going to be tolerant of a bad credit record. Even if you have had a low loan-to-value ratio on past accounts, and you have low debt ratios, you cannot wipe out a history of poor credit.

Rejection is not the end of the world: Just because a lender rejects your loan application doesn’t mean you can never own property in your life. You can take corrective steps to improve your chances of acceptance. But, if you work diligently, you will iron out the wrinkles. The key is to find out why your loan application was rejected, and work towards correcting the issues.

Resource: http://www.isnare.com/?aid=68054&ca=Finances

How To Select A Transfer Agent By Katerina Mitrou

Choosing a transfer agent before your company goes public is an important part of the transition process – it’s not something to be taken lightly. Not all transfer agents are the same, so if you’re serious about providing future stockholders with the services that will keep them happy, take the necessary time to find a transfer agent that will jive with your company’s core philosophy. Here are some tips to consider when searching for a transfer agent:

Don’t put it off. Begin researching transfer agents right away. If you make the selection a high priority, you’re more likely to find a good one. You’ll be able to control the entire process better and know that the agent you select will last for the long haul.

Choose a transfer agent based on your company’s requirements – and keep them realistic. For instance, your company may want an agent that is accurate, responsive and experienced so you don’t have to hold their hand every step of the way. Avoid agents that attempt to sell you features you don’t need.

See it from your shareholders’ perspective. Shareholders want to be treated as owners – one of the best ways to do so is to hire a transfer agent that makes them feel part of the loop and properly handles their questions and needs. Because the relationship with your transfer agent is a big part of the shareholder experience with your company, choose an agent that knows how to handle telephone calls and communicate effectively with the shareholder population.

Take referrals with a grain of salt. What works for one company may not necessarily work for you. It’s important to select a transfer agent based on your particular needs and requirements. Your lawyers and underwriters probably have their favorites, which can prove to be good starting points for further research, but when it comes right down to it, your final decision should be based on fact.

When checking references, contact the professionals within your own industry, and make sure to talk directly with the person who contacts the agent on a daily basis.

Each agent has its own market niche, so choose yours according to the services most important to your company. Some transfer agents can handle high volume clients - others work best with smaller firms.

Get to know ownership/management. In the transfer agent business the person at the top really does affect the running of the company as a whole.

Research the staff’s level of experience. This is especially important in the stock transfer business because it has everything to do with people. To keep your shareholders happy, your transfer agent must be able to provide the utmost in customer service.

Know the terms and pricing before making a final choice. Understand all the fees involved, including one-time and start-up fees, basic and additional service costs, other expenses and termination costs.

Ultimately, the choice is a personal one based on your company’s specific needs and preferences. The right transfer agent will work best with your shareholders to ensure the future prosperity of your company.

Resource: http://www.isnare.com/?aid=75542&ca=Finances

Can Nevada Corporations Protect Your Assets? By Yvonne Volante

Did you know that in the USA there are considerably more lawsuits than anywhere else? Here are afew interesting facts:

1. Nine out of ten lawsuits filed in the world are filed in the United States.

2. We have over 800,000 lawyers in the U.S. That is 4 times more than all other lawyers in the world.

3. If you own a business or are in a profession, you stand a one in three chance of being sued this year.

Is there any wonder, then, why so many lawsuits are filed? Ask yourself this question: how do many lawyers make money? Answer: by suing those of you who have something to lose.

So think about what you have to lose. Answer this question: do you have a home, stocks or bonds? How about mutual funds or an annuity? Maybe you won the state lottery or have a nice car or motor home? Or maybe grandma's nice inheritance. Whatever you may have, it's at risk if you get sued.

But lawyers aren't the only ones who can control your destiny.

Did you know that the powers of the Federal government have increased exponentially? This has resulted in the destruction and destruction of your financial privacy.

The best way to control this power grab by the attorneys and the government is to restore the privacy that was granted to you in the U.S. Bill or Rights. These rights were fought for and plenty of blood was spilled for them. Remember, use them or lose them.

So do your homework and make sure you're protected from being sued. A Nevada corporation may be just the thing for you. And with the resources of the internet, you should have no problem finding some help. But first make sure you understand what you are buying. There is also plenty of bad advice out there. And, who knows, you might actually find a lawyer who knows what he's talking about when it comes to asset protection.

Resource: http://www.isnare.com/?aid=75779&ca=Finances

Ways To Pay Off Your Mortgage Quickly By Peter Kenny

If you have a mortgage, sometimes it can seem like you will be paying it off forever. However, if you budget correctly and cut down on some items, you can pay your mortgage back much more quickly and own your house outright. If you want to pay back your mortgage more quickly, then some of these tips could help you to do just that:

What type of mortgage to get?

If you are looking for a mortgage that you can pay off early in the future, then the best type of mortgage to go for is a flexible mortgage. If you get a fixed mortgage then there will often be charges for paying your mortgage back early. Getting a flexible mortgage will allow you to pay less when you need to and then overpay when you have the chance. Also, with flexible mortgages the interest is calculated daily so the more money you pay back then the lower your interest payments will be.

Advantages of paying back early

The obvious advantage of paying your mortgage off early is that you will own your house outright and so have no more mortgage or housing payments to make. This will free up a large proportion of your income to spend on other things, or to save for retirement. Also, the quicker you pay back your mortgage, the less money you will actually pay. A mortgage paid over a long period of time can mean you pay almost as much in interest as the loan amount itself. Paying the mortgage back quickly will save you thousands of pounds in interest payments. In today’s environment there is also no incentive to hang onto mortgage debt, as you can no longer gain tax relief on your mortgage.

Ways to pay back early

Obviously, paying back early involves overpaying on your mortgage. However, some mortgages have a minimum amount you can overpay by, which you might not be able to afford. If this is the case you should save for a number of months and then pay the amount in a large sum. It really can save you money paying back early. Paying back £100 a month extra on a £100,000 mortgage at 6% could save you nearly £30,000 in interest and you will pay the mortgage back six years earlier.

When you shouldn’t pay off early

Despite there being a lot of good reasons to pay your mortgage back early, there are also reasons why you shouldn’t. If you get charged large fees for overpayment, then paying back early might not be the best option. Also, if you have other debts at a higher rate, pay those back first before your mortgage as these debts are costing you more. There are also personal reasons why you might want to keep your mortgage, in that you might want to spend your money now whilst you are younger and enjoy yourself. You might also want to use the extra money you have for investments, which if you can cope with the risk might yield better financial results.

Paying off is better

For most people, the quicker you can pay off your mortgage the better. Although you might have to sacrifice a few luxuries, the money you can save is worth it. If your wage increases, instead of spending more each month you should use the extra money to pay off your mortgage.

Resource: http://www.isnare.com/?aid=75790&ca=Finances

Balloon Mortgages? Are They For You? By Tabitha Naylor

Contrary to popular belief, mortgages are meant to fit into one’s life either for better or worse. Before locking yourself into a certain type of loan, it is best to know what qualifies you for the loan, and more importantly, what the regulations are on receiving this money. One of the most misunderstood types of mortgages is known as a balloon loan.

In simple terms, a balloon payment is one where there is a large, lump sum payment due at the end of a series of smaller periodic payments. These are usually included in loans or leases at the end of the term in which you are paying them for. Most balloon payments are taken when refinancing or when one is expecting an increase in cash from something such as inherited money, a large tax refund, or expected dividend. There are several different advantages and fall backs to balloon payments. Depending on the type of loan that you need and how you wish to pay this loan off, balloon payments may or may not be the right choice in taking out a loan.

The first advantage to this type of benefit is that the down payment will often be lower than it would normally be. Another advantage is that balloon payments often come with lower interest payments, which causes little capital outlay. If you choose this loan, you will be able to have more flexibility to advance capital during the loan. A third benefit is that the monthly payments will be lower than they would if you didn’t have a balloon payment. It is also possible to convert a balloon payment into smaller payments at any time during your loan if the money that you may receive is not going to come through. It is important to make sure that this is an option before you begin a balloon payment. Another benefit to balloon payments is that the interest rate will not adjust when rates go up on a national level. Once the first rate is set, it will stay in that category.

One of the problems with a balloon payment is that the payment at the end will be fairly large. You will have to be careful to decide on whether to make an investment if you do not know if there will be money coming in at a certain time. Another disadvantage is that the refinancing cost could become a larger challenge and cost more than expected in the end. If the interest rates increase while you are in a balloon payment, you will end up paying additional costs when wanting to refinance at the end. If rates rise more than five percent above the balloon interest rate that you began with, you will have to re-qualify for a loan and have your home reappraised. This will end up costing you more money in the end than you were trying to save. This is risky because of the fluctuation that happens with rates on a consistent basis. If you catch things at the wrong time, you will have to start the process of taking out a loan from the very beginning, which will end up costing more.

Before getting a balloon investment it is important to check on a number of factors, including the interest rate which you will start out with, when you will owe the balance, the refinance options available, whether you will be able to change your balloon payment to a regular payment and whether you will have to re-qualify for a mortgage when the final payments are due. If you get into a balloon payment, it is important to know that you will be able to get the fixed amount by the time the final balance will be due. It is also important to look into what will happen after this payment is due so that you don’t get caught in an endless cycle of having to take out loans for your home. If these factors will fit, then the disadvantages will be of no importance.

In my professional opinion, a balloon mortgage is suitable for you if you know that you will have end money, are looking for lower interest rate,s or know that you will be in the home for a defined period of time. If these factors don’t fit, or it seems like a risk to get into a balloon payment, than other mortgage and loan options are better to look into.

Resource: http://www.isnare.com/?aid=67081&ca=Finances

Just Reading Your Insurance Policy is One of the Best Things You Can Do For Your Car Insurance Rates

Do you remember when you were in college and your entire life revolved around the next chapter in the textbook you had to read? Did anyone REALLY enjoy spending days slumped over a book, trying to decipher information that really wasn't going to make any sense until you got to class and heard the professor explain it anyway? No, probably not. Chances are, you rejoiced when you got to kiss those days goodbye after graduation-only to discover that you were going to feel the exact same way every time you picked up your car insurance policy!

Let's face it, your car insurance policy isn't exactly a light evening read. In fact, if yours looks anything like mine it's not a light anything! And once you can work up the willpower to pick it up it's almost impossible to decipher all the insurance-ese and legal-ese that seems to take over every other sentence without a dictionary in one hand and a trio of car insurance agents in the other! You can admit it-you usually just get the highlights from your agent and run with that, don't you? That's what most of us do!

Unfortunately, knowing what's going on with our car insurance is actually pretty darn important. Why? Because this isn't something that's just going to sit around on a shelf and look pretty. Imagine getting into an accident and not knowing what your insurance would cover. You're going to find yourself either filing a car insurance claim only to discover that your insurance company isn't going to cover it or spending plenty of nights lying awake counting the pennies in your savings account until you find out one way or the other.

Either way, it's not cool.

Along with knowing what your insurance policy will cover, reading the packet from cover to cover can also give you the inside track on how to find ways to cut your rates dramatically. For example, most policies list out the discounts you qualified for. Are they all there? Or are you missing a few? Common car insurance discounts include (but aren't limited to):

a) Low mileage

b) Low risk cars (check with the National Highway Loss Data Institute to see where your car falls)

c) Good driving history

d) Age

e) Job

f) Location

That's just scratching the surface! Does your car have anti-lock brakes? How about a car alarm? All of these things can help you save big on your car insurance rates, but if you don't know you're not getting them how can you possibly know if you're paying too much? And the only way to figure that out is to read through your car insurance policy.

So take a deep breath, grab your car insurance policy and dig in. You might be surprised at what you're going to learn-and your bank account will thank you.