Remove collections from Credit Report

Remove collections from Credit Report
To get collections removed from a credit report there is a
process to follow. There is also a big misconception out
there that you can get collections removed that you owe.
Yes you can get collections removed but there is seasoning
requirement in order to get them removed. In this article
we will discuss what can and can't be removed from your
credit report.

Get a copy of your credit report with credit scores
If you want get collections removed you obviously need to
know what is being reported on your free credit score
report. You also need to make sure you pull a 3-1 credit
report with all 3 of your credit scores. Once you have done
this then you can determine what you need to start
disputing. I see a common problem all the time, and that
problem is people disputing information they owe. That does
absolutely no good unless the original collection date has
expired per the Fair Credit Reporting Act (FCRA). Here is
list of when certain collections will expire and are to be
removed from your credit report by law.

Derogatory expirations guidelines:
* Chapter 7 - 10yrs
* Chapter 13 - 7 yrs
* Tax Lien - Until paid off
* Child support - Until paid off
* Collections - 7yrs
* Chare Offs - 7 yrs
* Late payments - 7yrs
* Inquires - 24 months
* Foreclosure - 7 yrs
* Repossession - 7 yrs
* Judgments - 7yrs

*Expirations date starts ticking from the original
collection date.

Dispute expired items on credit report
Once you have reviewed what derogatory information on your
credit report is inaccurate, make sure you highlight those
items on your report. Determine which collections, late
payments, charge off, etc..... are set to expire or have
already expired. Now you can start the on-line disputing
process. I am personally a fan of disputing on-line for the
simple fact that it is faster and easier. The credit
bureaus will be able to verify the original collection date
after you dispute. If the bureau finds you are correct they
will remove the derogatory remark. This will start
increasing your credit scores. If the collection has not
expired don't dispute it, you are wasting your time. The
collection will not be removed unless the expiration date
has expired. Folks it's really that simple. There is no
quick way to get bad credit removed. Just remember if you
are late on a obligation you can expect your credit score
to drop around 150 points, and the negative mark will be on
your credit report for 7 yrs. So with all of this being
said, make sure you pay all your bills on-time.

----------------------------------------------------
About the Author: Mike Clover is the owner of
http://www.creditscorequick.com/ . CreditScoreQuick.com is
the one of the most unique on-line resources for free
credit score report, Internet identity theft software,
secure credit cards, and a BlOG with a wealth of personal
credit information. The information within this website is
written by professionals that know about credit, and what
determines ones credit worthiness.

Stock Options

Stock Options
One strategy companies have used in recent years is to
reward employees with options to purchase a certain amount
of the company's stock for a fixed price after a defined
period of time. The employee is not required to exercise
the option. Usually (and hopefully), by the time the
employee's options vest (become eligible for exercising),
the market price of the stock has gone up, and they get to
buy the stock for a lower price than what it's going for in
the current market.

A stock option is a contract which allows the holder to
purchase stock at a fixed price, typically known as the
"exercise price".

There are two classifications of employee stock options:
(1) statutory or qualified options (i.e. the tax treatment
of the options is governed by specific Internal Revenue
Code Sections) and (2) Nonqualified stock options (i.e.,
stock options that do not meet specific requirements in the
Internal Revenue Code for special tax treatment).

There are two types of qualified stock options: Incentive
stock options (ISO) and options written under the employee
stock purchase plans (ESPP)

- Tax Implications of Exercising Qualified Stock Options -

Generally, an ISO allows the grantee to postpone taxation
of option gains until option shares are disposed of, at
which time the gain will be taxed at favorable capital
gains rates.

- Employee Stock Purchase Plans (ESPP) -

Employee stock purchase plans are written,
shareholder-approved plans under which employees are
granted options to purchase shares of their employer's
stock or the stock of a parent or subsidiary corporation
for not less than 85% of their fair market value.

If the option price is less than the fair market value of
the stock at the time the option is granted, the employee
recognizes ordinary income in the amount of the lesser of
(1) difference between the fair market value of the shares
when sold (or the fair market value of the shares at the
employee's death while owning the shares) and the option
price for the shares or (2) the difference between the
option price and the fair market value of the shares when
the option was granted. The balance of the gain is treated
as capital gain.

- Tax Implications of Exercising Nonqualified Stock Options
-

Typically, income is recognized at the time an employee
exercises nonqualified options. The amount included as
taxable compensation is the fair market value (FMV) of the
stock on the exercise date, minus the amount paid (exercise
price). Compensation is reported to an employee in box 1
of form W-2 and in box 12 with a code "v." Income and
employment taxes are withheld on this income. For our
purposes, let's assume that you receive options for stock
that is actively traded on an established market such as
NASDAQ, but that the options themselves aren't traded. With
this type of option you must recognize taxable income equal
to what's called the compensation element when you exercise
the stock options and purchase the stock.

- Compensation Element Defined -

Your compensation element is basically the amount of
discount that you get when you buy the stock using your
options. It's calculated as (market value - stock grant
price) x number of shares you buy

The market value of the stock is the stock value on the
date you exercise the options (i.e., the date you buy the
stock under your option agreement).

The stock grant price is the amount that you can buy the
stock for per your option agreement.

Your employer is required to report the compensation
element on your Form W-2 for the year you exercise the
options.

- Restricted Stock Awards -

Unlike options, which may or may not be exercised,
restricted stock awards put shares into the grantee's name
up front, subject to forfeiture during the period of
restriction. Any price paid by the grantee is typically
well below market (if the shares are newly issued, state
corporation law may require a payment equal to par value),
and when the restrictions lapse the grantee will have
gained something even if the market price has fallen. The
nature and duration of the conditions attached to
restricted stock can be specifically tailored for each
grantee. In many cases, the condition is simply continued
employment for a specified period.

- Tax Treatment of Restricted Stock Awards -

The excess of the restricted stock's market value at the
date when the risk of forfeiture or restrictions on
transferability lapse over any price paid for the stock is
treated as compensation income to the grantee, and any
subsequent change in the value of the shares will be
recognized for tax purposes as capital gain or loss upon
disposition of the shares.

- Section 83(b) Elections -

In the alternative, the grantee may elect under I.R.C.
§ 83(b) to recognize compensation income at the time
of the initial transfer of the shares, based on the value
of the shares at that time (rather than at the time of
vesting). No income will be recognized upon lapse of the
risk of forfeiture or restrictions on transferability and
subsequent appreciation or depreciation will be recognized
as capital gain or loss. The grantee will not be entitled
to any loss deduction if the shares with respect to which a
§ 83(b) election was made are later forfeited.

- Conclusion -

Stock options can be a great way for employers to increase
the compensation package of their employees and a great way
for employees to invest in their employer. Just remember
that there are numerous tax effects that vary based on the
type of option. Be sure to check with your Tax Coach
whenever you receive the opportunity to acquire an option
in your company.

----------------------------------------------------
Tom Wheelwright is not only the founder and CEO of
Provision, but he is the creative force behind Provision
Wealth Strategists. In addition to his management
responsibilities, Tom likes to coach clients on wealth,
business, and tax strategies. Along with his frequent
seminars on these strategies, Tom is an adjunct professor
in the Masters of Tax program at Arizona State University.
For more information please visit
http://www.provisionwealth.com

Auto Insurance Basics

Auto Insurance Basics
Auto insurance is a contract that protects your financial
security in case of an accident. Although it is not
mandated by federal law, the purchase of auto insurance is
usually a requirement in most states; every state (with the
exception of New Hampshire and Wisconsin) have minimum
insurance laws.

These two states, instead of having insurance requirements,
have mandated financial responsibility laws, so that the
owner of a car is required to show that he has sufficient
funds to pay any necessary claims. If said owner cannot
produce proof of satisfactory assets, then he must buy an
auto insurance policy. Regardless of the law, having good
auto insurance is practical for the driver who wishes to
avoid lawsuits or immense repair bills.

According to the Insurance Information Institute (III), a
basic auto insurance policy is comprised of six basic types
of coverage. While some of these types of coverage are
required by state law, some are considered optional.

These are: 1. Bodily injury liability 2. Property damage
liability 3. Medical payments or Personal Injury Protection
(PIP) 4. Collision 5. Comprehensive 6.
Uninsured/Underinsured motorists coverage

Liability Insurance

Liability coverage is the foundation of any car insurance
policy, and is required in most states. If you are at fault
in an accident, your liability insurance will pay for the
bodily injury and property damage expenses caused to others
in the accident, including your legal bills. Bodily-injury
coverage pays for medical bills and lost wages.

Property-damage coverage pays for the repair or replacement
of things you wrecked other than your own car. The other
party may also decide to sue you to collect "pain and
suffering" damages.

Liability insurance (both bodily injury and property
damage) is the foundation of most auto insurance policies
and is ideal if you are seeking a low cost car insurance
policy. Every state that requires auto insurance mandates
the purchase of property damage liability, and Florida is
the only state that requires auto insurance but does not
call for bodily injury liability. If you are at fault in an
auto accident, your liability coverage will pay all the
expenses, bodily injury, property damage, and any legal
bills. The bodily injury coverage would pay for medical
bills and lost wages; the property damage coverage would
pay for any auto repairs, or replacement. Property damage
liability usually repairs damage to other vehicles, but can
also cover damages to things such as lamp poles, fences,
buildings, or anything else that your car may have struck.

Remember, although purchasing only the minimum can get you
a cheap auto insurance rate, if you cause a serious
accident, minimum insurance may not cover you adequately.
That's why it's a good idea to buy more than what your
state requires. If you own a home and have nest egg and a
savings account, you should consider more liability
insurance because, in most states, drivers are allowed to
sue other drivers who injure them in car accidents. If
you're sued and your liability insurance doesn't pay for
all of the damages, your personal finances are on the hook,
and it's likely you'll become a target.

Collision and Comprehensive Coverages

If you cause an accident, collision coverage will pay to
repair your vehicle. You usually can't collect any more
than the actual cash value of your car, which is not the
same as the car's replacement cost. Collision coverage is
normally the most expensive component of your car insurance
rate. By choosing a higher deductible, say $500 or $1,000,
you can keep your premium costs down. However, keep in mind
that you must pay the amount of your deductible before the
insurance company kicks in any money after an accident.

Insurance companies often will "total" your car if the
repair costs exceed a certain percentage of the car's
worth. The critical damage point varies from company to
company, from 55 percent to 90 percent.

Comprehensive coverage will pay for damages to your car
that weren't caused by an auto accident: Damages from
theft, fire, vandalism, natural disasters, or hitting a
deer all qualify. Comprehensive coverage also comes with a
deductible and your insurer will only pay as much as the
car was worth when it got wrecked.

Because insurance companies normally will not pay you more
than your car's book value, it's helpful if you have a
rough idea of this amount. Check the Kelley Blue Book or
the National Automobile Dealers Association. If your car is
worth less than what you're paying for the coverage, you're
better off not having it.

Neither collision nor comprehension insurance is required
by any of the states, but some lenders, when the owner
finances the car, may require the purchase of collision and
comprehensive in the loan agreement. Even when it is not
required, collision and comprehensive coverage is highly
recommended by the insurance industry, so that in the
unforeseen event of damage or theft, the owner of the car
can avoid heavy bills. Theft of cars is not as unusual as
some people may think. In 2004, a car was stolen in the
United States every 26 seconds, and a car had a 1 in 190
chance of being stolen.

Medical Payments, PIP, and No-fault coverages

Medical payments (MedPay) coverage will pay for your and
your passengers' medical expenses after an accident. These
expenses can arise from accidents while you're driving your
car, someone else's car (with their permission), and
injuries you or your family members incur when you're
pedestrians. The coverage will pay regardless of who is at
fault, but if someone else is liable, your insurer may seek
to recoup the expenses from him or her.

Personal Injury Protection (PIP) coverage is an extended
form of MedPay. PIP may cover expenses that are related to
injury, but not necessarily medical, such as lost wages,
childcare and funeral costs. PIP coverage is currently
required by sixteen states. If you are already insured
under a good health insurance policy, then fortunately,
there is no need to buy more than the minimum required
amount of PIP or MedPay insurance.

If you have a good health insurance plan, there might be
little need to buy more than the minimum required PIP or
MedPay coverages, if at all. And, if you already have
disability insurance, there's little reason to purchase
higher-than-minimum amounts of PIP.

Uninsured/Underinsured Motorists Coverages

Uninsured motorists (UM) coverage pays for your injuries if
you're struck by a hit-and-run driver or someone who
doesn't have auto insurance. It is required in many states.

Underinsured motorists (UIM) coverage will pay out if the
driver who hit you causes more damage than his or her
liability coverage can cover. In some states, UM or UIM
coverage will also pay for property damages. Similarly,
underinsured motorists insurance will cover any damage
caused when you are struck by a driver who is not insured
for a sufficient amount.

If you are hit, as a pedestrian, underinsured coverage will
cover the expenses. Uninsured motorists insurance is
currently required by twenty states, and Underinsured
motorists coverage is required by only four: Connecticut,
Minnesota, Maine, and Vermont.

You'll probably want to have at least the minimal amount of
UM/UIM because if you can't find the other driver, you'll
at least have some coverage for pain-and-suffering damages.

Add-on Features

Several supplemental auto coverages are available, either
as separate premium items or included in augmented
policies. -Rental reimbursement, a common add-on, covers
vehicle rentals required because your car is damaged or
stolen. -Coverage for towing and labor charges in case of a
road breakdown is also common. -Gap coverage for your new
car will pay the difference between the actual cash value
you receive for the car and the amount left on your car
loan if your vehicle is totaled in an accident.

Basic auto insurance is required by virtually every state
and is typically the cheapest auto insurance in the
marketplace. Proof of insurance is required at different
times throughout the life of a vehicle.

You may be asked for proof of insurance at any and all of
these times: at vehicle registration, at the time of an
accident, and any time when driving the vehicle. It is
suggested that the owner of the car keeps proof of
insurance in the car at all times, instead of on his or her
person, so that it can be available at all times, no matter
who is driving.

Any violations of state law regarding auto insurance could
result in, at best, a hefty fine, and at worst, suspension
of your driver's license and/or time in jail. The dire
consequences of driving while uninsured are not worth the
neglect of paying for insurance. The chance that an
uninsured driver will avoid detection is slim; he is likely
to be caught and strictly punished.

----------------------------------------------------
Amy Danise is a staff writer for http://insure.com . Visit
Insure.com for an instant car insurance quote. Insure.com
can also provide cheap car insurance quotes for drivers
seeking minimum coverage. Insure.com is dedicated to
providing impartial insurance information to consumers.
Visitors can obtain instant quotes from more than 200
leading insurers, achieve maximum savings and have the
freedom to buy from any company shown.

Avoiding Health Insurance Claims Denials on Group or Private Health Insurance, Part 2

Avoiding Health Insurance Claims Denials on Group or Private Health Insurance, Part 2
Unfortunately, paying for health care these days - whether
it's hospital care, group or private health insurance, or
durable medical supplies - is a lot like buying a car: You
gotta haggle. If you can research and take care of your
out-of-pocket expenses prior to surgery, it's possible and
wise to negotiate with the hospital and providers for a
lower out-of-pocket rate.

For example, say you know you have elective surgery coming
up, and you've discussed it with your doctor and agreed on
a date. His office already has the paperwork process
underway with the insurance company, and you read through
your policy and find that it does not cover out-of-network
anesthesia. What do you do? You might call the hospital and
ask how many in-network anesthesiologists they generally
have on hand at the time when you've scheduled your
surgery. If you know there's a good chance the person who
is going to provide that service is not going to be covered
by your policy, this is where the negotiations start.

Today, we have to negotiate these kinds of things, as
difficult as that seems in light of any health issue. We
also have a growing rate of tiered billing practices, so we
can be charged anything from what a provider like Medicaid
or Medicare might have to pay, to the price level of an
uninsured patient, which might be substantially higher, but
since the charges aren't necessarily standardized, there's
a lot of room for discussion. Many hospitals charge
uninsured individuals a lot more for services so they can
make up for costs lost elsewhere in their operations. The
point is, from one end of that spectrum to the other,
there's a lot of negotiation room. Knowledge is power,
especially in this scenario.

Start with reading and digesting your health insurance
policy, whether it is group, government provided, or
private health insurance. Call your doctor and ask what
kinds of surgery-related expenses a patient is generally
expected to cover. These may include radiology (x-rays),
consultation with out-of-network specialists (whose fees
are also negotiable), pathology, and even blood
transfusions. Then, starting with the finance department,
call the hospital and ask them which service providers
operate outside of your network, and get ready for the
talks to begin.

Explain what your insurance provider will cover and what
you can afford to pay for the rest. Many hospitals today
have made their pricing policies transparent and therefore
have prices posted to the hospital Web site or readily
available for consumer perusal. Keep in mind that the
hospitals offering such practices also only guarantee the
prices from the date of printing (or publishing); all the
same, armed with this information you can at least get a
rough idea of the price range you're dealing with.

According to one lawyer at the Texas State Department of
Insurance, pricing is not the only thing you can tweak.
"You can also talk to your own doctor and see whether he
can find other providers at the hospital who wouldn't be
out-of-network. If you have one surgery date, but that
scheduled time doesn't coincide with the physical presence
of in-network providers, but another time does, well, you'd
choose a different time, wouldn't you?" He also said to be
on the lookout for words like "allowable," "usual," and
"customary" in your policy, because those usually signal
"points of flexibility," and we could all use a little
flexibility with insurance companies and hospitals.

----------------------------------------------------
Ryan Patterson is president of US Insurance Online, based
in Austin, TX. He graduated in 2000 from the University of
Texas with a combined business and computer science degree,
and started US Insurance Online in May of 2005 with fellow
entrepreneur Jim Waltrip. Visit
http://www.USInsuranceOnline.com for help shopping for
insurance and for free insurance quotes.

Family Health Insurance Evolves Again: Domestic Partner Health Insurance

Family Health Insurance Evolves Again: Domestic Partner Health Insurance
When it comes to domestic partner health insurance, most
observers agree the insurance industry has morphed with the
times. As notions of traditional and common-law marriage,
as well as same-sex civil unions, have reconfigured, so has
family health insurance.

Over the past several years, many major corporations
decided to cover same-sex partners under their spousal and
family health insurance policies. Though some new couples
(gay or straight)don't realize it, they now have many of
the same rights and benefits as traditional spouses and
dependents. As with any other couple, it's merely a matter
of sitting down and figuring out what type of coverage they
need and what they can afford. To find out more, check out
these sites:

www.hrc.org/issues/workplace/benefits/domestic_partner_benef
its.htm www.healthsymphony.com/insurance101b.htm
www.usinsuranceonline.com/healthinsurance/resources/domestic
partners.php

"Most companies I work with cover domestic partners these
days," says Texas insurance agent Jaimie Marino, whose
company, based in the Dallas-Fort Worth area, has clients
around the state. "The only thing you need to consider is
that you can't have a spouse or significant other living at
another address. If the [primary policy holder] fills out
an applicant/spouse form, the insurance companies usually
won't ask if you're officially married. They've never even
have asked me or my clients how long they've lived
together, much less whether they're married."

Marino deals with more than 20 companies, from Humana to
Unicare to United, and he says that, "There's nothing
that's going to trip up a domestic-partner couple that
wouldn't come up for [traditionally] married people. In my
experience, they don't even need a joint bank account. I've
never had an insurance company ask. As long as they reside
together and can prove that, it's fine."

According to the Human Rights Campaign, which began
lobbying the insurance industry on behalf of gay, lesbian,
and transgender couples in the 1980s, most employees
require that a same-sex couple or domestic partnership be
defined something like the following: "They are emotionally
and financially interdependent, do not have a different
domestic partner or spouse, have reached the age of
consent, and are not related."

That definition applies to many couples now, says Michael
Barnes, a writer for a daily newspaper (which provides
coverage for him and his spouse, a freelancer).

"It has been left to localities and individual businesses
and corporations to figure out what's best," says Barnes.
"And that seems to be working nationally, because if there
were a single plan or dictate enforced from above, it
wouldn't work, whereas now it's almost all on a voluntary
basis. And, from my research, it's clear that most of the
Fortune 500 companies include some form of domestic partner
benefits nowadays."

No question, the entire industry has changed dramatically
in the past few years. This timeline notes how far the
insurance industry has come over the past 20 years:

* In 1982, the Village Voice, based in New York, became the
first employer to extend benefits to domestic partners of
the same sex.

* By 1990, more than 20 American employers were offering
"spousal equivalent" benefits to their employees' same-sex
partners.

* As of 2006, a majority of Fortune 500 companies (the
largest U.S. corporations) were providing health insurance
for domestic partners of the same or opposite sex.

In short, don't be afraid to ask for domestic partner
health insurance. Chances are, it's yours for the asking.

----------------------------------------------------
US Insurance Online CEO Jim Waltrip is a self-taught
software developer and entrepreneur with a passion for
building things: teams of employees, software, and new
systems. Jim started US Insurance Online with business
partner Ryan Patterson in May 2005. Visit
http://www.USInsuranceOnline.com for insurance shopping
help and for free insurance quotes.

Tips On How To Choose The Right Credit Card

Tips On How To Choose The Right Credit Card
The whole world loves to shop. Whether they are a man or a
woman, young or old people love to get something new.
People love browsing through the internet for products and
eventually buying it. As shoppers tend to be impulsive,
wanting to buy a certain product the moment they see it
online. There for the need for a credit card is now
greater than ever.

Just think about buying things at your convenience from
your own home, as credit cards can help prevent the hassle
of having to carry large amounts of cash, which is actually
useless online. Choosing the right card, however, is not a
decision to take for granted.

Some tips on how to choose a credit card:

1. Figure out how the card is to be used.

Can you keep your bill paid in full? If you can then, you
might want to go for a credit card that has no yearly fee
or one that has an extended grace period. However, if
you're the type of person who always has a balance every
month, consider choosing a credit card that has a low
interest rate so you wont continue to go further into debt.

2. Picking the right bank / company

Understand that not all banks are good. You also need to
consider the stability of the bank. If you're choosing a
credit card from an unknown, or some new company just
because they offer really low interest rates, you might
want to rethink that. As there might come a time that
financial problems the company runs into would be charged
on your account without you knowing about it.

3. What are the cost and features compared to other cards

Comparing card costs and features will help with choosing
the right credit card for you. Banks and other card
companies offer attractive packages that may make you
choose without thinking. So take your time and weigh them
against each other. Don't forget to take a look at the
interest rates

Certain things to consider like:

* APR (Annual Percentage Rate), which is actually what they
charge you for "borrowing" the money

* The yearly Fees is a charge for being a member of that
bank or card company

* The transaction fees are the cost of making late payments
or sometimes cash advances

* The Overspending fee is charged when you're still
charging even if you're beyond the credit limit, which can
be very costly.

4. Find out what is the credit limit.

Now this is the most critical part when choosing a credit
card. Please be aware of companies who're willing to offer
you a ridiculously high limit even if it's obvious that you
don't have the ability to pay it. Also, knowing the credit
limit will help you understand if you could handle paying
the credit card off or you'd be just overspending which can
ruin your credit score if it got out of hand.

----------------------------------------------------
Keishon Martin expert author for
http://www.Newmoneycredit.com where you can get the best
self credit repair program on the internet. also check out
http://www.getrichinmusic.com

Understanding Mortgage Fees

Understanding Mortgage Fees
In basic terms, mortgage fees are defined as charges by
lenders for processing a mortgage loan, but these fees can
be confusing to people since there are so many of them.

So, it's important for both real estate investors and their
customers to understand these charges so you know the real
cost of loans and to make sure all charges are legitimate.
Armed with this knowledge, you can get the best mortgage
deal for yourself and for your customers and ensure that
you're not being overcharged.

As I explain mortgage fees, keep in mind that lenders have
varying requirements so you may not have to incur the cost
of every one of these charges.

Application Fee

This is the simply the cost of processing the loan. It's
normally paid to the lender when you apply. It's usually
non-refundable if you decide not to take the loan.

Appraisal Fees

This is an estimate of the market value of the property.
The lender has the appraisal done to make sure the mortgage
has a level of risk that's acceptable to them. It's usually
done by a professional appraiser, who provides a written
appraisal to the lender.

Attorney Fees

Sometimes, an attorney is required to prepare and review
loan documents, so an additional fee is paid for document
preparation.

Credit Report Fee

This is a charge for having a credit report pulled by the
lender. Naturally, the lender wants to know the borrower's
creditworthiness so that lender will get the information
from one of the "Big Three" credit reporting
agencies—Equifax, Experian, or TransUnion.

Document Preparation Fees

These are fees charged for the preparation of legal
documents such as deeds of trust, the mortgage contract,
etc. The fees may charged by the lender, broker, or the
title company.

Earnest Money

This is money the buyer pays into an escrow account to show
good faith to the seller; in other words, it demonstrates
that they're serious about buying the property and are
putting their money where their mouth is. It's usually a
small amount of money and is paid by the buyer when an
offer is made on the property.

Escrow Account Funds

The lender holds money in the escrow account for the
purpose of paying of specific items. These items can
include up to two months worth of private mortgage
insurance, homeowner's insurance, hazard insurance,
property tax payments, etc.

Loan Discount Points

These are fees that lenders charge in order to provide a
lower interest rate. As a borrower, you can choose to get a
lower interest rate ("buy down") by paying "points" in
addition to the loan origination fee. Each point is equal
to one percent of the value of the loan, and one point
typically represents about one eighth of a percentage point.

Loan Origination Fee

This is a fee charged by the lender to cover administration
costs; i.e., preparation, evaluation and submission of the
loan. The fee is usually equal to 1% of the value of the
loan. Origination fees may be as high as 2% if the loan is
especially complicated. As a general rule, expect to pay no
more than approximately 1%. Mortgage Broker Fee In some
situations, you may prefer to work with a mortgage broker
rather than directly with a lender. In that case, you'll
pay the broker a fee for his or her services in addition to
the lender's fee.

Mortgage Underwriting Fee

Lenders charge this fee for verifying the information on
the loan application and making a final decision on loan
approval. It also covers closing and funding costs for the
lender. Typically, this is where the lender makes their
immediate profit from lending (as opposed to profit over
time from interest). Note: Brokers shouldn't charge an
underwriting fee; they're not the ones underwriting a loan.

Prepaid Interest

This is the amount of interest that accrues between closing
time and the date of the first mortgage payment. This fee
is paid to the lender at closing time. Recommendation: To
reduce the amount of prepaid interest, try to close at the
end of the month. This will also reduce the amount of cash
you need to come up with at closing time. Property
Inspection Fee This is a fee charged by a licensed property
inspector for determining the general physical condition of
the property as well as pest inspection. Property
inspections protect both the buyer and the lender.

Survey Fee

This is a fee charged by a licensed surveyor for
measurement of a property's boundaries. The lender or title
search company may require a survey in order to ensure that
the boundaries have been upheld.

Title Insurance

This is vital protection for the buyer in case there are
any unpaid mortgages or tax liens on the property that were
overlooked during the title search. If title issues crop
up, then title insurance pays for legal costs and
reimburses the buyer for any other losses incurred.

Title Search Fee

A title search is vital because, as a buyer, you want to
make sure the person selling the property is the legal
owner. The title company analyzes all public records
concerning the property in order to determine if any title
defects could interfere with clear transfer of property
ownership.

Summary

In this article, I covered the topic of mortgage fees. As I
said earlier, it pays to understand these fees to make sure
both investors and their customers get the best deal on a
mortgage and to ensure that they're not being overcharged.

A good online source for getting a handle on mortgage fees
charged across the nation is http://www.bankrate.com. This
site will give you the highest, lowest, and average fees
charged by lenders and brokers. I recommend you consult it
on a regular basis to stay on top of the mortgage game.

Remember: As always, knowledge is power!

Jack Sternberg

----------------------------------------------------
Jack Sternberg is a nationally recognized expert on real
estate investment who's been in the business for more than
30 years. Sternberg is the creator of the renowned "Buyers
First" Program. His deals have totaled over $750 million
and he's been to the closing table more than 1,500 times.
For more, visit http://www.askjacksternberg.com

Take the Effortless Road to Your Future as an Independent Financial Advisor

Take the Effortless Road to Your Future as an Independent Financial Advisor
One of the few positive effects of the impending explosion
of the retirement rolls as 77 million "Baby Boomers"
approach the age of 65 can be found in the outlook for
employment of Personal Financial Advisors. Few 'Boomers'
have made adequate plans to extend their lifestyles beyond
their working years and are in desperate need of the
assistance of Personal Financial Advisors.

This is excellent news for anyone seeking a lucrative new
career opportunity.

The U.S. Bureau of Labor Statistics, 2008-2009 Employment
Outlook, reports that "Personal Financial Advisors are
projected to grow by 41%, which is much faster than average
for all occupations".

The Baby Boomer, a creature with the life expectancy of a
Galapagos sea turtle but with less than two years of income
saved in a qualified retirement plan, is in urgent need of
solutions to his or her retirement quandary.

Independent Financial Advisors consult with individuals or
families who are in need of various financial products and
services to meet their long term and short term financial
goals. Independent Financial Advisors are not tethered to
or employed by a specific company, but can offer a range of
products and services from a variety of providers.

For the 'cold war generation', the rules of the game have
changed. It's no longer about asset accumulation. We have
run out of time to build significant assets and need a
strategy that addresses the three quadrants of our personal
balance sheet which have, up to this point, gone largely
ignored.

Income: For this generation, it's not how much we have
that matters. What matters is how much sustainable lifetime
income we can get from what we have. Independent Financial
Advisors have access to newly developed financial products
that enable us to grow our retirement income bucket with a
high rate of return, and then, guarantee annual income
distributions for life, regardless of how long we live.

Expenses: We need to start saving as much as possible, as
quickly as possible. Independent Financial Advisors can
assist us in getting control of our monthly expenses and
enable us to save much more money for our retirement.

Liabilities: We know that the 'UFO' generation is up to
its' pointy ears in debt. We can't afford to carry this
debt into retirement. An advisor can recommend new and
innovative equity based strategies that will enable us to
get completely out of debt, including our mortgage, before
we retire.

If you're considering tapping into this emerging career
opportunity, here are two valuable tips to help you get
started.

1. Avoid involvement with any kind of securities products
as a new advisor. You would need to become a "registered
representative" under the guidance and control of the NASD
and the SEC. Your clients may not need these risk based
products and you don't need all of the regulatory
compliance headaches that come with this title.

2. You've got to plug into an independent marketing
organization's system. If you think you can do it your way,
you'll have enormous difficulty starting and maintaining a
successful practice.

Independent Marketing Organizations, in exchange for
commission overrides, provide turn-key systems including
advisor training, product training, product access,
provider contracts, assistance with licensing, marketing,
lead generation, and regulatory compliance.

In any business model it's all about positioning. If there
is a problem and a solution to that problem, by positioning
yourself between the two, you become valuable. The bigger
the problem and the easier the solution, the more
successful you will be.

There is an enormous need for new personal financial
advisors to lead this generation down the path of financial
freedom. Those that come forward will discover a career
that offers a great deal of personal satisfaction as well
as significant income potential.

----------------------------------------------------
David Haslett is Senior National Marketing Director of
Freedom Equity Group. For more insider information on the
lucrative and rewarding career opportunity as Independent
Financial Advisor, email to: DaveHaslett@FEGFinancial.com
or visit the web site by clicking>>>
http://www.YourFinancialAdvisorCareer.net

Where Can I Get More Information About Major Medical Insurance?

Where Can I Get More Information About Major Medical Insurance?
The current health insurance system is incredibly complex
and constantly changing, and it becomes difficult and
overwhelming to keep all of the information straight when
searching for the major medical insurance plan that is just
right for you and your family. There is so much to consider
and the abundance of information can become confusing, but
there are resources available that provide information
clearly and answer common questions about health insurance.
The Life and Health Insurance Foundation for Education
(LIFE) and America's Health Insurance Plans (AHIP) are two
leading insurance trade associations that provide consumers
with information about the various health insurance plans
available today.

LIFE is a non-profit organization that desires to satisfy
the public's increasing need for education and information
about health insurance. On its Web site
(www.life-line.org), LIFE presents a section called "Health
Insurance" to answer commonly asked questions about the
industry, to provide information about different types of
health care policies, and to discuss ways to compare one
policy with another. Some questions the LIFE Web site
addresses include:

* Who needs health insurance?
* What are the different types of health insurance?
* Where can I get coverage?
* What should I know when buying?
* Where do I buy health insurance?
* How much does health care cost?

Another great resource, AHIP can be used to further expand
your knowledge about major medical insurance. As a national
association representing nearly 1,300 member companies who
provide health insurance coverage to more than 200 million
Americans, AHIP is a credible, go-to resource for health
insurance information. AHIP knows all of the choices that
people buying health insurance will face, so they aim to
provide plenty of information on their Web site, as well as
links to even more information found on other credible
sites. All of the information displayed is intended to make
learning about health insurance and selecting a plan much
less complicated.

AHIP also supplies consumer guides to magnify the necessity
of health insurance and to answer many frequently asked
questions. AHIP's consumer guides provide all of the
answers from the very basic questions like, "Why do you
need health insurance?" to the more complex, "What happens
if you have health insurance through your employer and you
leave your job?" AHIP also equips its readers with an
extensive list of Health Insurance Plan links. Consumers
can browse the list and click through hundreds of health
insurance providers in minutes.

For more information and answers to common health insurance
questions, visit the Insurance Information Institute's Web
site (www.iii.org). This site is easy to navigate and the
information is presented very clearly. On the site you will
find the health insurance basics and common health
insurance questions answered. The Insurance Information
Institute supplies a wealth of material for consumers about
different kinds of health insurance—what they are,
how they differ, and how to pick the right health insurance
plan. They address the cost of care, the services covered,
and the quality of insurance.

Health insurance should be considered a priority because
everyone needs medical care from time to time. Since the
abundance of information is available and easily
accessible, it is in your best interest to use it and make
an informed decision when you select a health insurance
plan for you and your family.

----------------------------------------------------
US Insurance Online CEO Jim Waltrip is a self-taught
software developer and entrepreneur with a passion for
building things: teams of employees, software, and new
systems. Jim started US Insurance Online with business
partner Ryan Patterson in May 2005. Visit
http://www.USInsuranceOnline.com for insurance shopping
help and for free insurance quotes.

Don't Let Credit Card Debt Sneak Up on You

Don't Let Credit Card Debt Sneak Up on You
Are you thinking about getting your first credit card?
Before you accept a credit card application, consider this:

Many Americans find themselves in so much debt, it's hard
for them to keep up. When the card bills begin to stack
up, it can lead to many financial difficulties. If you ask
anybody with credit card debt what they are going through,
they will probably tell you what a total nightmare they are
in.

Why not just avoid credit card debt altogether?

This might seem like an impossible thought at first. But
if you talk to anybody that has gotten into credit card
debt, they will tell you what a horrible nightmare they are
in. Thats because it can take forever to pay off a maxed
out card. Not only that, but after the interest and
fees,you can literally spend thousands dollars to fix the
mess. You might want the convenience that a credit card
can bring you, but it's not worth lying awake at night
wondering how you're going to make the next payment.

Don't get me wrong, a credit card can be great in
emergency situations. But now-a-days, people are using
credit cards as a free ticket to a mega shopping spree.

If you decide to get a credit card, you just have to
remember to keep the spending under control. Using a credit
card is very easy. In fact, it is hard to conduct business
transactions any other way. For example, you can use
credit cards to pay for gas and food.

While all of these great uses for credit are beneficial, it
can cause you to wind up with a big credit card bill at the
end of the month. If you don't pay your balance off, it
can send you down a spiral of uncontrollable debt.

Just remember that there are some precautions you should
follow in using credit cards safely and building a good
credit score. First, remember that what when you charge
something, you are taking out a loan. Even if you just
charge five dollars to buy a burger, you took out an
unsecured loan to finance your lunch. That doesn't make a
lot of sense, does it?

Once you start using credit cards, remember that it is not
free money. You will be paying back everything you run up
on it plus interest. Save every receipt each month and
keep a log of what you have spent with your credit card.

What is the best way to keep your credit card problems
under control? Pay off your credit card each month. It's
as simple as that. By staying on top of your credit, you
will start out with the kind of habits that will lead to a
life of good credit use without uncontrollable debt. And
that is a great gift to give yourself early in life.

----------------------------------------------------
Avoid credit card debt and learn how to control your
spending.
http://debtornator.com

Use the Law to Protect Your Credit and Save You Money

Use the Law to Protect Your Credit and Save You Money
As a consumer, under the law, you are protected in matters
regarding billing errors, defective products, interest rate
on loans, lost or stolen credit cards, and leasing a
personal property, such as cars, appliances for over 4
months. These laws and regulations are meant to protect
your credit and save you money.

However, you must not only be knowledgeable about these
laws and regulations, but also know how to apply them to
your advantage.

The Fair Credit Billing Act protects you when you charge a
credit card, credit line, or revolving charge account. It
protects you against billing errors, defective goods or
service. But you must know how to act accordingly in your
best interest.

Send a written complaint to your creditor immediately
(within 60 days), and include your name, account number,
the item(s) in dispute, and the reasons why you think there
is an error. Send it to the appropriate department or
address.

However, you must continue to pay your bill while under
dispute. Remember, the creditor cannot initiate any
collection procedure against you; nor can the creditor send
the disputed amount as delinquent to the credit bureaus.
You may use this to buy more time to settle or bring your
account current.

By law, the creditor must acknowledge your letter within 30
days of receipt.

If the creditor is correct and present you with copies of
related documents, you must pay the bill or the amount
owed. But if you think you still have a case, write within
10 days of receiving the disputed explanation.

The Fair Credit Billing Act requires all cards issuers to
mail their statements to customers at least 2 weeks before
payment is due, and credit payments may begin the date they
arrive, but not before. The law also requires all refunds
to be paid within 7 days after receiving a written request.

If you lose a credit card, you are liable to only $50, even
if you don't promptly notify your credit card issuer. This
is also your right as a credit card consumer.

The Truth in Lending Act ensures that the lenders must
disclose the terms of the loan you are applying for,
including the financial charge, the APR (which is the
annual percentage cost of the loan on a yearly bases, that
is, if the APR is 18 percent, you will be paying an
interest of 1.5 percent of the loan a month), and any fees
associated with the loan. If you receive several
preapproved credit cards, always choose the one with the
lowest APR and the lowest annual fee or no annual fee to
save you money. Always read the fine print, and ask if you
have any question.

By law, you can change your mind about getting a loan, and
generally you have about 3 days to do so.

The Equal Credit Opportunity Act requires that you will be
notified, within 30 days of application, the approval or
denial of a loan to you. Any denial must be in writing with
specific reasons. According to the law, you cannot be
denied based on sex, race, marital status, religion,
national origin, age, receiving welfare, or unavailability
of credit insurance.

The Consumer Leasing Act is applicable to leasing for
personal property for longer than 4 months (this does not
apply to short-term car rental). The leaser has to provide
you with the cost and terms of the lease in the form of
written disclosures, such as the total cost of leasing,
registration fee, taxes, maintenance and insurance, and,
most important, the standards of wear and tear, such that
any future dispute can be avoided, and, if not, at least
resolved satisfactorily.

Review your state's laws regarding collections, and the
federal Fair Debt Collection Practice Act to familiarize
yourself with your rights as a consumer. When a collector
knows you are knowledgeable, he or she cannot and will not
intimidate you.

Always be knowledgeable of the law and your rights as a
consumer. This will protect your credit and save you money.

----------------------------------------------------
Stephen Lau is a researcher and writer of medical research
for doctors and scientists worldwide. His several
publications include "NO MIRACLE CURES" a book on healing
and wellness, and "HOW TO TEACH CHILDREN TO READ" a book on
reading strategies. He has also created several websites on
health, golf, Zen living, mental depression, and money
management, including the following:
http://www.smartcreditsmartmoney.com
http://www.nomiraclecures.com