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 know mortgage loan officers all over the country. Each one tells a similar story. All their businesses have nose dived, and some have lost as much as three quarters of their business.

All polled telling sob stories would have one thing in common, they are all doing forward mortgages. If I polled a reverse mortgage loan officer I'd hear something quite different.

The reasons are really two and a half fold. The first and most important is reverse mortgages by their very nature do not obligate the borrower to make payments. It's why people get reverse mortgages in the first place.

The one real risk to the reverse mortgage involves a negative equity position for the bank. To combat this the bank lends with relatively low loan to value ratios, which in turn give it the security its investors desire to fund the loans.

Another factor aiding reverse mortgage market is simply our growing senior population. The first baby boomers turned 62 over a year ago. I believe there is more to come.

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.

Another less important factor is the current economy. Many seniors have lost much of their savings in the stock market dive of '08, and large numbers are looking for additional financial tools.

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.

Reverse mortgage lenders could see real issues if home values drop drastically from here, but barring that event the sun appears to be shining on this business.

About the Author:

If you are looking for a great resource discussing the ins and outs of the California reverse mortgage click here. For a great Q&A site for the Califnornia Guide to the reverse mortgage, click here.

Insurance Companies Offer More Than Cheap Car Insurance Quotes

By Susan Tanner

Car insurance is not just an option; it is a requirement. Depending on what kind of car you drive, your age, and driving past, it can be hard to get a good insurance rate that is affordable. While most car insurances just calculate the risk of the driver which gives them the rate they pay; the rate is just as important to the company as their service is to the owner.

There is one aspect of all car insurance companies that is priceless; that is customer service. With a good customer service, the company can easily attract new customers and keep their old ones. Focusing on treating a customer great when submitting a claim is extremely important and is a stressed point in all insurers.

Progressive (the car insurance company) is one of the highest regarded insurers for customer service. No longer would you have to sit on the phone for hours as they have made it simple enough to be done in ten minutes. This ensures quick and quality repairs on your vehicle. Now days, they have made cheap insurance while maintaining a very high image for themselves.

Although Progressive is just one example, there are many other insurance companies that offer low quotes and easy processes. Such companies as AllState also strive to put out cheap insurance just for a market share. On the other hand, they lack the customer service and simple insurance claim submitting when put up against other such companies. Instead they offer other benefits that attract old and new customers alike.

Reading customer reviews is essential in learning the truth about a car insurance company. By doing this you can easily locate a quality insurer near you with great quotes on policies you would actually be interested in. This method easily knocks off other companies as their true identities are discovered.

You want a company that will be as helpful as possible when submitting your car insurance claim. The less stress you have the better. If you have to submit a claim, you are already going through a stressful time, and why make it worse with a company that provides poor service?

You can find many companies that can provide you a cheap car insurance quote with quality customer service. This treatment is not for the elite. It is becoming more and more prominent to people of all policy levels, and it doesn't matter whose fault it was. This is a great improvement from the years before.

Insurance companies have worked to improve their prices for their customers and they have made it a mission to provide higher customer service. The industry is becoming more and more competitive and everyone wants to gain a larger customer base. This is causing insurance company's to advertise more discounts, better rates, lower quotes, and better claims experiences.

About the Author:

To find out exactly how I got car insurance, visit my website about online auto insurance

Stock Market Trading Rules- Ten Secrets

By Singapore Trader Reports

A well fact amongst the trading community is that 90 percent of investors lose money in futures and Forex tradin! This leaves 10%, which is then broken down to 4-6 percent break even and only 4-6 percent make money.

What Group Are YOU in?

Given the high numbers of clients that are unsuccessful, it is all the more important for investors to approach futures and forex trading in the right manner. So we have put together some rules that hopefully help you become a more successful trader.

Secret 1: Trade with Money you can afford to Lose

Now that you have decided to get involved in trading, sit down and asses how much money am I going to trade, investor, speculate on the market with. I understand that this is trading and therefore there is the chance that I can lose my money.

Secret 2: It's Not how many trades: Do not OVERTRADE

So many new traders come to the market thinking, I am going to pick 8 winners out of 10 and make all of this money. Well it is possible to pick more winners but still lose on the market. Why because of risk and money management, so always put in equal amounts per trade. Eg: if you have $20,000 to trade, break it up into $2,000 trades, this will help with you staying in much longer and increasing your success to become a successful or a full time trader.

Secret 3: Run with the profits, and cut those losers.

If a trade goes against you, remember to cut it. No one can pick the market 100% of the time, so don't think you are different. If the trade is going the wrong way cut it. Re look at the trade, there is going to be plenty more. Once they start going up, let them go, who knows how high they go. Remember always use trailing stop losses.

Secret 4: Feel Like you can't pick your nose- Have a Break

It can be possible that you are just not picking the market right or there are strange market conditions if this is the case take a break. Walk away and then come back and look again.

Secret 5: Work like an Egyptian build pyramids

As the market moves up and you are long much earlier, you must learn not to double up your positions. Instead, reduce your positions each time you add to a position. If at first you had 10 contracts, the second should not be more than 5-6 contracts and the third should be 50% of your second (i.e. 3 contracts). An upside down pyramid will be top heavy and could wipe out all your hard-earned profits should the market reverse.

Secret 6 : Don't Double Down- It just compounds losses

If start to add to a losing position by averaging down this is going to be very dangerous. Remember you are investing with "margin". The contract is not yours; you merely paid a percentage of the total value. Averaging a losing position is equivalent to not admitting your mistakes, that you were wrong in the first place. Successful traders cut their losses short and realize that you can't get 100% of winning trades. We all try, but we can't. So cut losses.

Secret 7: WHO wants to be a millionaire? Don't Put it all in One Trade

Use risk and money management to protect your capital, divide your trading capital into 10 equal parts and never lose more than 10 percent on one trade. If you lost the first trade, you still have nine more opportunities to be right. Putting all your capital on one trade is suicidal and you will go down.

Secret 8: NEVER MEET MARGIN CALLS - CUT THE $hit- Saves you Money

When you are wrong about the market, get out, admit it and move on. Once you start thinking, very often prices will go against your position, further triggering a margin call from your broker. A margin call simply means that you are wrong in the market and your position should be closed out. Margin calls are made because people do not want to admit being wrong and take a loss; they hope the market will eventually go in their direction and that they will get there money back. It will come back, I am not wrong. Yes you are.. Get out. To avoid this mistake, you should never meet margin calls. Just cut your losses and "get the hell out".

Secret 9: Transfer Profits

Probably no more than 1% of traders have a rule to take profits out of their trading account. The few wise investors I know have bought their house, a car or simply put part of their winnings into a fixed deposit account, or into some long term shares, otherwise the chances are high that they may lose them all back.

Secret 10: James Blunt knows- Baby because I've got a plan Make a Plan

Lack of planning can only result in no plan, and without a plan you are gambling. Look at getting advice, from stock market reports, Great Broker look finding a great stock broker, use this site to see who they recommend.

HELP HINTS: Most traders should listen to the Kenny Rogers song The Gambler, there are aspects of that song that can learn from, mainly, know when to hold them, know when to fold them, and know when to 'cut' RUN

1. Know when and at what price you are going to enter the market. 2. Know how much money you are going to risk on each and every trade. 3. Know when and at what price you are going to get out when you are wrong. 4. Know when and at what price you are going to take your profits if you are right. 5. Know how much money you are going to make if you are right. 6. Have a safety stop in case the market does the unexpected. 7. Have an approximate idea of when the market should meet your objectives or when it should begin to make a move; and if it has not done so, get out.

FINAL WRAP UP

One of the most important things to take away are set a plan, has your risk and money management plan in front of you and stick to it. If you have that plan and it doesn't work, re plan, that's why if you start small you can soon build up to be whatever trader you want to be.

Happy Trading

About the Author:

Online Broker Review we help you find the best broker, free forex report.

Refinance Mortgage Loan Guide

By John Bear

Finding the best refinancing deal would have to involve comparing lenders, but we know for a fact that those numbers can get pretty complicated, especially when you are to investigate rates, fees, and points. But of course, if a mortgage company has the lowest rates, it doesn't necessarily mean that it has the best deal for you.

Many financing companies will post their rates online. Lower interest on an ARM or fixed-rate mortgage can be tempting, but have a look at the fine print. What points or fees are usually required for the rate? Mortgage lenders lure consumers with low initial numbers, only to have high closing costs. A better 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 like your original mortgage, the refinanced mortgage also has closing costs. Standard fees include the origination, appraisal, and closing fees, while points can be required for a low-rate security. So just by looking at the APR, you can actually figure which lenders are offering the best fees in relation to their rates.

When doing research for a mortgage refinancing, ask about penalties and fees, as early payment or late payment fees can get really expensive. In some situations, you can waive part of these fees by paying a point at closing, such as early payment.

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 refinancing, decide on how long you plan to keep the mortgage. Then, compare the costs of mortgages for how long you will have them, even if you take out a 30 year mortgage that you plan to have for only a couple of years. Mortgage calculators can always help with the math.

So to find the best option regarding your refinance mortgage loan, request quotes for refinancing your mortgages together and separately. Try to look at different lenders to ensure you are getting the most competitive deal. Doing research and analyzing lenders will surely help you get the best refinancing deal for your situation.

About the Author:

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The Best Credit Repair Letter Samples Are Free

By William Blake

Some people are frightened into purchasing things that they could easily get free of charge. They feel desperate and need help and think that the only way they can get the help they need is to pay for it. A credit repair or cease and desist letter is a good example of something that people may desperately need but do not have to pay for. You do not have to buy a full credit repair kit just to get a sample letter to follow. You can find many sample letters by searching online.

Short And Sort Of Sweet

A credit repair letter should not be a long, drawn out and emotional explanation of what happened to your credit, how it happened and why it happened. It is a form letter and it should read as such. It is a business letter so it should be very direct, brief and get right to the point.

The website of the Federal Trade Commission has a form letter for credit report disputes. The form letter provided by the government on this website is a good form letter to go by. However, these are the most common types of letters found on the internet so there are many forms to choose from. You can also call toll free the Federal Trade Commission if you need further assistance.

Copies Only

When sending documentation along with your credit repair letter you need to be sure you make copies and send the copy with your letter. Never send your original documents. Later you may need that original to present your case in court or for other reasons. Often the documentation required is personal documents such as your social security card or your certificate of birth. You never send these types of things in the mail and risk loosing them. Always send copies and copies only.

About.com

About.com is a website created to provide accurate and dependable information on a variety of things. This website is a great source for sample credit repair and cease and desist letters. They are easy to find. Simply go to About.com and in the Business and Finance Section follow the link for Credit/Debit Management. If you want to skip those steps just go to your search engine and type "About.com cease and desist letter sample.

About the Author:

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