Why Credit Crisis isn't Touching Reverse Mortgage Biz

By Tupania Vanrock

We have all read and heard about the results of the the credit crisis, which all begain with high-risk home loans. The entire forward mortgage industry is in a world of hurt.

I have friends in the mortgage industry from Seattle to Phoenix and east into Texas. All of their respective mortgage businesses are down. Some are down as much as 75%.

One common denominator of those crying the blues is that they are all in the forward mortgage segment of mortgage lending. On the contrary, reverse mortgages are booming.

The question is why? First, since banks on the forward end are so hesitant to lend out money one can see how a reverse mortgage, which does not require monthly interest or principal payments, might be a healthier investment for a bank or the banks investors.

If their is a risk to the reverse mortgage side it is in the possibility that one day more would be owed on the home than the home is actually worth. This is why lenders create reasonably large cushions between the value of the home and the actual loan.

Adding to the recipe, the over 62 market is growing like a weed. Many demographers believe the over 62 population will double by the year 2030.

This age group has one problem its parents didn't. It's parents faced cost of living increases, as we all do, but this generation of seniors didn't save like it's folks did. The need for additional income is greater with this group.

I haven't looked at the exact numbers of how much the stock market is down, but many seniors are running scared because of it. Many of my new reverse mortgage applications have been predicated on this.

From early indications this group is taking out a reverse mortgage and using it in one of two ways. They are either paying off a mortgage to free up more money for savings, or they are simply using the loan as a financial safety net.

It's hard to say exactly where this goes in the next few months to the next several years. Home values continue to fall nationally and no one knows where they will bottom out.

The reverse mortgage industry could take a hit if house valuations take a deep plunge. However, with a softer landing the reverse industry will continue its upward curve.

About the Author:

To get a great guide discussing the workings of the California reverse mortgage go here. For a great Q&A site for the reverse mortgage in California questions, you click here.

Low Rate On Your Balance Transfer

By Michael Benifez

Credit Card Balance Transfers

If you're like most Americans, you get tons of credit card offers by mail, email, and over the phone. Many times, these calls and offers are just a waste of time, but every once in a while, you may actually come across an offer of some benefit. These offers typically come in the form of a good balance transfer rate.

If you currently have a card with a high interest rate, transferring to a low rate balance transfer card may really take some burden off your pocket book. Some cards even offer zero percent on balance transfers. If you're really serious about saving, you can transfer your balance and refrain from using the card for additional purposes. This way, you're paying off debt with no interest what so ever.

Finding a card with a good balance transfer rate should be relatively easy. Aside from the fact that you're proably getting telemarketing calls on a daily basis and tons of offers in the mail, there are countless numbers of online sources to help you in your search. You may even considering contacting customer service from a few of the more popular cards to find out what they can offer you.

If you find that you're not having much success in finding a card that is right for you, consider contacting your current provider. The people in customer service there may be able to help lower your current rate, especially when they learn you are considering changing to a new card in order get a better rate. Because they truly value your business, they may work with you to provide a solution you're happy with.

In most cases, keeping the low rate on your balance transfer only requires that you pay your bill on time. Make sure you are familiar with the guidelines the agreement set forth by your credit card company and stick to them without fail. If you neglect to make your payments on time, you may very well end up with a rate that is higher than the one you had before you made your balance transfer.

Do your best to make an informed decision about the credit cards you choose and set aside some extra time to ask questions regarding possibility of having low apr rate as well as additional . Making the transfer via phone will be simple and relatively quick, all you will need is your current information and a few minutes to answer questions.

Transferring a balance can be an effective way to save some money and improve your credit at the same time. If you're struggling to make ends meet, paying down debts interest free can be a lifesaver. If you find yourself trying to dig out of a credit card hole, take the initiative to transfer the balance, your wallet will be happy you did.

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Do The Best Credit Repair Services Improve Your Credit Score?

By Leona Allen

The best credit repair services set realistic expectations, while taking much of the drudgery out of fixing your credit score. While none of them can perform magic, the best credit repair services can help improve your credit score.

Hundreds of companies offer credit repair services today, but according to the Federal Trade Commission, most of them are scams. If they claim that they can erase bad credit, or guarantee to raise your credit score, you should be very wary.

According to the Federal Trade Commission, you can't remove accurate and timely negative information legally from a credit report. Even though many of these companies will suggest you dispute all negative entries on your credit report, you do so at your own risk. In most cases, this is illegal, even if you are following their advice.

The best credit repair services will not try to charge you to get your credit reports. By law, everyone is entitled to a free credit report from each of the three credit-reporting agencies (TransUnion, Experian, and Equifax) once every twelve months.

Much of what these companies do are things you can do yourself, however they can often help inform those who may not be aware of all their options. Taking on some of these tasks can help lower fees, or you can chose to do the whole thing yourself.

It is important to differentiate between credit repair services and "debt consolidators". A debt consolidator does not try to fix your credit, but rather works to help you bring your outstanding debt under control.

This is done by contacting your creditors on your behalf, and negotiating a 'settlement' agreement, often a fraction of the actual outstanding debt. Then they combine these amounts. You in turn pay a single amount each month to the company, who then sends a portion to each creditor.

The best credit repair services won't help much if the factors that led to credit problems don't change. Further, they don't provide the kind of "bailout" that erases bad debt like filing bankruptcy will. That being said, what they can do is help you to get your feet back on the ground and help set you on the road to improving your credit score, and in turn your whole financial future.

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The Basics Of Stock Option Trading

By Walter Fox

Learning to invest in the stock market can be difficult for beginners. Normally, a great deal of experience is required. Access to someone with knowledge of the markets is can be helpful too. In particular, options trading can be quite complex.

Keeping in mind that options trading has an added complexity, it is the intent of this article to explain the concept to you. After reading this article, you should be abile to decide if they want to pursue this further.

The first thing to learn is the different types of options trading that are available. The two types are called call options and put options. The concept of options is similar to buying and selling stocks except for the fact that you are only buying the right to buy or sell and not the actual stocks themselves.

You would buy what is called a call option which gives you the right to purchase a companyas stock. The major difference with this is that you buy precisely one hundred shares and you by no means have to follow through on the deal.

Once you have purchased a call option, you then can decide if and when you want to exercise your right to buy. You have a specific deadline in which to buy. If you decide to purchase the stocks, they are bought at the predetermined price.

Next, we will look at put options. Put options give you the right to sell one hundred stocks at a predetermined price. This concept may seem a little backwards since it is the opposite of what you might know about standard trading.

Put options are usually used when you think that the price of the stock is about to fall. This allows you to sell your stocks at a higher price than market value and make a profit. This method is a great way to manage your risk in the stock market.

To conclude, there is money to be made in options trading if you know what youare doing and have the ability to consult with somebody knowledgeable. Learning the ins and outs of options trading well can position you to profit nicely.

About the Author:

TheScienceOfTrading.com provides 90 free minutes of videos on option trading systems and provides a complete and detailed option trading course for beginners to experts.

The Reality About Credit Card

By Eric Jilson

Growing credit card debt is a very real problem in the United States today. For the average person this debt grows larger and larger every single day. This situation creates problems not only in the credit card world, but in other areas as well.

US credit debt effects not only the consumer in their pocket book, but also in mortgages, bankruptcies, home and business foreclosures, automobile and student loans. As credit card debt in the United States continues to soar out of control, more and more people are seeking the services of credit counseling agencies and consolidation loans, to fend off the high interest fees and drowning in credit card debt.

More Americans than ever are taking drastic steps to get back on their feet financially. If you do not think the debt is that bad, you need to reexamine the information and statistics. The average person carries a monthly balance of around $1000.00. Of this amount, by making only the minimum monthly payments, it would take 22 years and more money in interest to pay off this debt.

The household average in the US is around $8500.00, and this is just the average on one credit card. Since the 90's this amount has tripled in size. The average credit card holder in the US, pays over $1200 a year just in interest fees alone. This money could easily cover your rent or mortgage payment for a single month, have you really looked at this information realistically? What happens if you ever have to worry about job security?

Have you thought about how you will pay your bills then? The average interest rates for credit cards in the US is around 18.9%, and it keeps on escalating. Some credit cards have introductory rates as high as 23%, and for those people with bad credit this rate can climb to an unbelievable 30%.

Many people would never tell their friends or family how much money they owe on their credit cards, nor would they tell them if they were 30 days past due on making their payments or facing possible collection action.

This is a very real problem and it has a flow down effect on such businesses as real estate, auto, banking, consumer loans, and stock market. Effects of bad credit do not only involve the consumers, but it causes many economic problems as well.

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Learn more about consumer loans for bad credit today!

Learn More About Refinance Mortgage Loan

By John Bear

Comparing lenders would certainly help you find the best deal on refinancing, but those numbers can get pretty confusing, especially when you are to investigate rates, fees, and points. Remember though that just because a mortgage company has the lowest rates, it doesn't necessarily mean that it offers the best deal for you.

Many of the financing companies post their rates online. In fact, the lower interest on an ARM or fixed-rate mortgage can be tempting, but do look at the fine print. What fees or points are required for the rate? Mortgage lenders tend to lure consumers with low initial numbers only to have high closing costs. The best number to look at is the APR.

The annual percentage rate or APR is required by the federal law to be disclosed to consumers before signing any contract. The APR includes the mortgage's interest rate and closing costs, and this gives you an accurate idea of the total cost of the refinance mortgage loan.

Just as your original mortgage had closing costs, so will your refinanced mortgage. Standard fees include origination fees, appraisal costs, and closing fees, while points may also be required to secure a low rate. By looking at the APR, you can determine which lenders are offering the best fees in relation to their rates.

When researching for a mortgage, do ask about penalty fees because early payment or late payment fees can get really pricey. So there are some instances that you can waive part of these fees, such as an early payment, by paying a point at closing.

However, depending on your current situation, the lowest rate refinance mortgage loan may not be the best deal all the time. Take for an example, if you plan to move in a couple of years, paying points for low rates may not be able to save you more money.

Before having to refinance, decide first on how long you plan to keep the mortgage. You can then compare the costs of mortgages for how long you will keep them, even if you plan to take out a 30 year term mortgage that you plan to have for only a couple of years. You can always use mortgage calculators to help you with the math calculations.

In order to find your best option regarding refinance mortgage loan, request quotes for refinancing your mortgages together and separately. Also look at several different lenders to make sure you are getting the most competitive offer. By doing your research and analyzing lenders, you will surely end up with the best refinancing deal for your situation.

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