Tax Relief Family And Education


It is wonderful feeling for a family to live together and be there for each other when required. Sitting together for breakfast discussing daily matters, one can discuss important issue like money. Cutting back on taxes can be a complete family affair, where almost every member is involved in some way or the other.

Earlier the wedding bells brought tax blues as there were few incentives for married people. But the tax code has changed with the years and there is some tax relief for married people depending on their status.

There is tax relief available for all parents single or staying together depending on the income they have. This Child tax credit can be claimed for every child under the age of 17. If you are paying an adult who is not dependent on you for looking after your children who are below 13 years of age you can get claim a tax relief up to $1,050 for one child and $2,100 for more children. You can save paying tax on your hard earned money by paying tuition fees for a college going student.

The provision of lifetime learning credit is worth almost $2,000 for all the students on your tax return who are in college or graduating. Most of these benefits depend on your income. It is also possible for you to get a deduction on student loan interest even if you have forgotten to itemize.

If you have children at least 18 years or more in age, you can transfer valued stocks to them. When they are sold by the child it will be taxed at child’s lower tax rate. Sit down and think and you will be able to save money on tax.

Noreen Centeno and partners of Limon Whitaker & Morgan, for years have helped businesses and individuals Nationwide, with their delinquent IRS & State tax problems. The firm is based in Los Angeles, California USA. []


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Stated Income Loans Are Disappearing or Becoming Expensive What is Happening to Mortgage Lenders?

Last week, a real estate broker I have tremendous respect for, sent me an email that said, “What in the heck is going on with the lending business and how do we adjust our business?” He asked me to come speak with the agents in his office about it this week. Here is what I will tell them….

What’s happening in lending is that the biggest banks in the world, like American Home Mortgage (AHM), one of the nation’s top 15 lenders, are suffering tremendous losses caused by foreclosures and a soft real estate market. They are all concerned for survival and they are adjusting their business model. AHM couldn’t move quickly enough and stopped funding loans in early August.

To understand where we are you need to understand how we got here.

In recent years, Wall Street investors got heavily involved in the mortgage business through asset-backed securities, made up of pools of assets, that investors can invest in.
Let’s say Countrywide puts together $700 million of mortgage debt from 2000 different homeowners. They then move it to Wall Street who packages that into a mortgage-backed security. So investors invest in this package and when the borrowers make their payments, the investors collect their dividends. Wall Street takes a cut for doing it and Countrywide gets a nice price for their package of loans. Not a bad deal for everyone, huh?

So keeping in mind that these investors get paid as borrowers make their payments on their mortgage, when people don’t make their payments, and let their home go into foreclosure, the mortgage-backed security loses its value, investors lose money, they panic and then bail out on them.

This brings us to today where we have near record foreclosures in many areas and many more are coming due to resetting adjustable rate mortgages.

Of all of the subprime loans done last year, 75% have ARMs that will adjust next year. Talk about the tip of the iceberg. Combine this with depreciating home values and the mortgage-backed security has become a very risky investment. These securities have become impossible to sell unless they are priced in such a way to be considered worth the “risk” to investors.

So let’s say you were an investor in mortgage-backed securities and you have been losing your shirt. If you were an aggressive investor, you would tell Wall Street “don’t bring me anymore of that garbage unless the interest I can make is substantial. I am willing to take the risk, but I want the reward.” That means high rates and bigger down payments.

If you were a conservative investor, you would simply say “no, thank you.” That means less programs choices and limited credit.

The investor market for mortgage-backed securities is frightened right now. They are afraid to put their money behind it. I recently heard a story about a firm that was out shopping $90 million of seven-year interest-only ARMs all at loan-to-values of 80% or less and could not find a single investor. Not one.

When American Home Mortgage closed, their CEO said, “”Unfortunately, the market conditions in both the secondary mortgage market as well as the national real estate market have deteriorated to the point that we have no realistic alternative.” This sums it all up.

The biggest banks in the world have nowhere to sell the loans they are making and they don’t have the money to keep these loans themselves.

With nowhere to sell these loans huge companies, like New Century, American Home Mortgage, and Fremont, and scores of other smaller lenders have already gone out of business. Many more are going to follow.

One of our biggest local lenders, Silver State Mortgage, closed its doors earlier in the year, and last week, I understand, another giant in our market, Meridias Capital, stopped funding ALT-A loans on their banking line and are brokering those loans only.

Businesses of all kinds rely on the credit market to loan them money to run their companies. In the mortgage business, while a bank waits to sell its loans, those loans primarily sit on their lines of credit. Once that line is full, if they can’t get the loans sold, and they can’t get more credit, they are out of business.

The CFO of Bear Stearns came out last week and said the credit market, primarily because of the fears in the housing and mortgage market, is the worst it has been in over 20 years. This means that the large banks are finding it difficult to secure the credit lines necessary to keep funding mortgages and running their businesses successfully.

So, with nowhere to go, and limited resources, they are considerably limiting the credit they will extend to people who don’t have money for a down payment and don’t have excellent credit. They are raising interest rates when they do make a loan for them. They need to create sellable loans.

If you need an “ALT-A” loan or “alternative” loan and this means like stated income or low doc loan, or you want an interest-only loan, or you are buying a condo that doesn’t have a Fannie Mae approval, your rate is going to be much higher or your down payment requirement will. ALT-A loans make up a huge segment of loans in our market here in Las Vegas.

Nationally, last year, over 40% of the loans issued were either ALT-A or subprime. You can imagine what the elimination of these products means to the amount of potential buyers in the market. It severely limits them.

It doesn’t even matter if your credit score is 800. If you need 100% financing and you have to state your income and you want an interest only, plan on your rate being nearly 4-6% higher than someone who can prove income and wants a fully amortized loan (not interest only).

I just priced out a 100% loan on a $400,000 sales price, stated income, with a 780 score. The rate was over 10.000%. One investor quoted me 14.125%. If you need a jumbo loan, over $417,000, plan on it being even worse. For all intents and purposes, stated income loans at 100% are very close to being a thing of the past.

Rates are going to be much higher for those who provide less documentation of income and who have less money for a down payment. These rates are going to vary dramatically between lenders. I priced two second homes today at 90%. One was for a guy with a 750 credit score and full doc. Another for a 760 credit score and stated income. The rate for the full doc loan was more than two points less.

What is 9.375% at one bank may be 11.625% at another for the exact same loan. This is because if the bank doesn’t have an investor at the other end to sell the loan and they have to service it and hold it themselves, they are going to price it far differently.

Many astute borrowers watch the bond market and follow economic news closely to help them see what interest rates are doing. They can forget that for now as banks are pricing in all of the risk factors, like stated income, high loan to value loans, etc. more heavily into the rate.

This means it’s more important than ever for the client to have an experienced lender, shop the banks himself (like Wells Fargo, Bank of America, etc.), or make sure his broker or banker shops all options for him.

This is going way beyond subprime loans, which is where it started at the beginning of the year. The lack of investors to which to sell loans are forcing lenders to go back to the more-conservative lending matrices of pre-2003.

If you can document your income, your credit is good, and you can make a 5% down payment or more, you will be rewarded with a variety of loan options and a very competitive interest rate. In the low to mid 6.000’s.

If you can’t, you are going to pay a lot for it and it will be more challenging to get.

Many analysts are predicting that more than half of all of the loan products available today for borrowers who want limited documentation of their income (stated, no doc, no ratio, etc.) will be eliminated in the next few months, if not the next few weeks. Many banks, like National City, have already gotten rid of them.

The lending guidelines are becoming stricter each week and they are rapidly changing all of the time.
This reduction in credit and rising of rates on the ALT-A product is going to put even more pressure on the residential real estate market, where things have already been pretty flat. These lending changes are likely going to lessen the amount of qualified buyers, which will lower the demand for housing, and bring down prices further.

In my opinion, these banks are making a mistake and are overreacting. Sure, there needs to be a restructuring of the way things have been done in the past. However, the more credit people have access to, the more they spend on houses, the more homes appreciate, and the better chance the market has for a faster recovery.

Overreacting and restricting credit is simply going to lessen the amount of potential buyers, worsen the housing market, cause housing prices to plummet, and create even more foreclosures when people can’t refinance out of their recasting ARM. Therefore, these banks are trading one set of problems (liquidity) for another set of problems (profitability).

However, all is not lost. Let’s use an example from our market. Let’s say you have a client who is a tipped employee at a popular Las Vegas casino and needs 100% financing. Now, let’s say that although he claimed $45,000, he actually made a bit closer to $60,000. Last year you would take him out shopping for a home in the $380,000 range, he would state his income and get his approval.

Today, this may not be as available. He will have to find a home where he can qualify with his income that can be documented. This may mean the sale price needs to be closer to $300,000 or so. Sure, it’s a bit less commission, but it’s still a possible sale.


o1) It is more important than ever to have your clients pre-qualified with an experienced lender with every loan option available in the market. If you care about your business, the days of letting someone use their “cousin,” are over. If that cousin cannot prove to you that he is experienced and knowledgeable, have someone else take a look.

o2) Make sure one of your preferred lenders is FHA-approved. Many loan brokers cannot do FHA loans. Ask them. Subprime is dead unless you have a decent down payment. But FHA will likely never die.

o3) Don’t pre-qualify without a lender. When you talk to your potential client, please don’t try and make a lending determination yourself. For example, if a prospect tells you he makes $10 per hour and his credit isn’t very good, don’t walk away just because you think he won’t qualify. Let your lender still try. We can sometimes get full doc loans approved with a 65% debt to income ratio. This means someone who grosses $2000 per month may be able to qualify for a new home payment of $1300 per month with no other debt and only average credit.

o4) Understand the loan limits. If the loan is $417,000, and under, the loans are much easier today. A jumbo loan is one that is higher and may require more documentation and come with a higher rate. Know the FHA loan limit in your area. In Las Vegas, its $304,000. If you don’t know it, go to this link:

o5) Think full doc first. When you meet with your prospect and you start to talk a little about his qualifications, if he is putting very little down, don’t let him just say, “I am going stated income or no doc.” Let him know that this should be a discussion with his lender and he should still be prepared to provide income documentation.

o6) Move fast. Once you have an accepted offer, get your client in for a loan application, and get their programs and loans locked immediately. Do not delay or think you have “plenty of time” for that. In today’s climate, the pre-approval letter you get may only be for that day only. In today’s market, the program may not be available tomorrow.

o7) Stay educated. Talk to your lender. Ask him “what’s new?” and if there is anything you need to know for your business. Make sure he communicates with you throughout the process.

o8) Be patient. With lending guidelines changing all of the time, it may take a bit longer to process and underwrite the files. Everyone is being very cautious today, especially underwriters.

o9) Understand the timelines. Ask your lender at the very beginning of the loan process how long underwriting times are running at his bank. Keep in mind scores of banks are no longer with us. That has put additional pressures on the remaining banks. I understand some banks have underwriting times of three weeks right now. It’s important for you to know this and communicate it to everyone in the transaction.

o10) Mortgage insurance is back. Remember private mortgage insurance (PMI)? It was replaced by the 80/20, 80/15, and 80/10. With the Wall Street fears, one of the first products to get hit was the second mortgage. Although it’s still around, be prepared that it may not be available to some of your clients and they may have to have mortgage insurance.

We live in a different real estate world today. In my opinion, it’s not bad, it’s just different. The past four years we lived in paradise. We got drunk on endless supplies of buyers and an infinite amount of creative loan programs to assist them. Ten million more households own their own homes today than they did 10 years ago. But then it caught up to us. We still live in paradise however we are now in the hangover period.

Things have changed in the market and in lending. It’s important for your business, like in life, to live in the present and not the past.

This is a crucial time in our business and everyone needs to understand these changes.


Premium Auto Loans That Won’t Leave You Running on Empty

How many times have you heard the story about somebody who spent so much on their new car they can scarcely afford the monthly repayments on the auto loan, let alone the petrol to run the darn thing?

Sadly, it’s a story that occurs all too often. You are blinded by the glare off the gleaming duco, your senses are heightened by the plush leather trim, the blast from the quad speaker system, the dashboard that looks like it was pulled straight from the cockpit of an F111, and that’s it – you’re sold.

Repayments of $2357.43 per month? Sure thing! I can do that if I give up drinking, smoking, um…eating. And if I stop taking toilet breaks, the boss might give me overtime? Yeah!

Okay, so that scenario may be a bit extreme, but car dealerships can certainly make even the most basic sedan look like a Maserati, well, maybe a Mazda, with the right lighting and a spit of polish. And who knows what can happen one year into your 5 year loan term? A change of location…a job layoff…a new baby…you just never know what’s around the corner.

So, we’ve decided to get serious and look at how you can secure the best possible auto loan for the best possible auto without going down the gurgler.

* Always do your homework before you commit yourself to any loan – particularly car loans. Ensure you are getting a premium loan package with the best possible auto loan rate. Check out all the major financial institutions first and then make a decision based on the best value for money loan.

* Don’t buy a car on impulse. Even if it’s the bargain of the century and the sales assistant tells you there are 12 people backed up behind you waiting to grab it out from under you. Chances are, he’s lying (about all the people) and if you’re meant to have it, it will still be there tomorrow. Be realistic.

* Do your sums. Don’t let the salesperson do them for you – he will have you bamboozled in no time at all. That’s his job.

Work out the total cost of the vehicle including registration, stamp duty and insurance costs and deduct your deposit – assuming you have one?

Then go online and find a car loan calculator (they are everywhere!) and input the figures to give you a rough estimate of the monthly repayments over different repayment periods, like 3 years, 5 years or 7 years.

* Look at your current family budget and factor in the loan repayment. Can you meet all basic expenses and have surplus funds to fund the repayments. Add in ‘contingencies’ of 20% over your current budget for the items you didn’t count on. Can you still meet the monthly repayments? If you can’t, scrap the idea.

* Remember: the more you borrow, the more you have to repay. And the longer the duration of the loan, the more interest you’ll be paying on the total package. In addition, the longer the loan term, the more likely it is that circumstances may change – and not always for the better.

Sure. In a worst case scenario you could sell the vehicle, but you rarely, if ever, recover the amount you originally paid; unless you bought a ’71 XY Falcon GTHO from a bloke’s back shed for $1,750 that you’ll restore and sell for $1.75million, in which case you wouldn’t need a loan and you wouldn’t be reading this article.

Now that most of the negatives have been covered, we can look at the positives.

One of the best ways to check out the best auto loan rates is to go online. Most of the major banks and lending institutions all have loan packs available with all the information you’ll need, including an application form.

Or instead, you can visit one of the quality online loan providers who use a vast panel of lenders to provide you with the best auto loans on the market, and one that is specifically tailored to suit your needs.

Once you have provided them with your personal and financial details, they will verify and confirm your financial situation and can usually get back to you within 24 hours with a response. How’s that for service?

And if you should happen to find that XY Falcon GTHO for $1,750 in the back shed, please let me know, okay?



New Car Loans Forget the Troubles of Bad Credit History and Welcome a Brand New Car Today

Loving a car is American legacy! We are born with this amazing passion and love for cars. If you are looking to fulfill your dream of owning a brand new BMW, Audi or a Chevy, you need to take help of auto loans. Now, when it comes to new car loans, one thing that terrifies us is bad credit history. But, rejection because of bad credit history will become history now! Think out of the box when it comes to bad credit score. Read this amazing new car loans guide to stay focused on the road of car buying.

New Car Loans for buying a New Automobile – Why is it necessary?

A new car costs more than $30,000 and prices have been steadily rising. Now, to buy a new automobile, you have to cough up almost $3000 extra. This means car loans have become a necessity.

Everyone wants a Piece of Pie

New lenders and online automobile financing companies have made the auto financing world competitive. Everyone wants a share of customer’s spending. This means it has become very easy to get approved for a new car loan.

It’s so much easier to get a bad credit auto loan today than it was in the past. Bad credit history is certainly not an issue for lenders now. Here’s how you can easily sign the new car loan contract despite bad credit history.

Tips for a New Car Loan with Bad Credit

1. Begin with Budget

We all know how addictive cars can be! So, it’s better to know your spending capacity before choosing your dream car. Calculate your income and expenses before deciding on the kind of car you want. It will avoid any further damage to your credit score.

2. Income Proof

Even if you have bad credit on your credit report, it’s important to earn a decent income. A good income ensures regular payments. This is very important for lenders who offer auto financing options to bad credit buyers.

Your income proof can be your recent pay-stubs. A self-employed individual can provide IT statement as a validation of regular income.

3. No Down Payment? NO PROBLEM

Don’t worry if making a down payment is difficult for you. There is absolutely no need of making a cash down payment. You can trade-in your old car. Its value will be deducted from the cost of your new car and voila! Your Problem is solved.

Most car manufacturers offer rebates in the name of customer incentive. You can ask the dealer to use rebates as down payment. This means you will actually put money down without taking a single dollar out of your pocket.

4. Options other than the USUAL

Most bad credit car buyers are suggested to opt for shorter loan terms with higher monthly payments. It becomes slightly impossible to make regular monthly payments of more than $500. This increases the chances of missing out on payments. So, think creative and understand innovative options that are available in the market before signing on the dotted line. It’s better to explore all choices so that you choose the payment schedule that fits you the best.

You can choose balloon payments. With this option, you can make lower monthly payments and then, make a huge payment at the end of the loan term. This can be ideal if you plan for the last payment from the very beginning. Along with an affordable monthly payment, you can put aside some money for the last payment. This will help you avoid higher payments.

According to Wall Street Journal, the average car loan term was 65 months in last few months of 2012. Nowadays, loan terms are as long as 70 months. Today, lenders are looking forward to extend loan term of 97 months. This is because most car buyers are unable to afford high monthly payments. As the durability of cars is increasing every year, they can be used for longer periods. This makes such longer terms a reality.

So, while opting for a new car loan with bad credit history, remember to try out other options. Seek knowledge about the current trends in the auto financing market because it will help you grab the best car loan deal.

All the best for your new car!

When bad credit history is becoming a nightmare in securing new car loans, think of Fast Auto Loan Approval. The company is famous for providing lowest possible rates on bad credit auto loans. Now, fulfill your new car dream with 100% free auto loan quotes. Apply now!


Know the Process of Bad Credit Auto Loans and Buy Your Dream Car at Lower Rates

A car is a necessity for the people of America. But, most people don’t have the resources and ready cash to buy a car. That’s where a car loan is useful. With the help of auto financing, one can easily buy the car of their choice. By and large, Americans use this option for buying the much needed automobile.

But, what about those individuals who don’t have a good credit score? We all know that getting any type of loan is difficult when you have a bad credit score. But, does it mean that a mere bad credit history can cause so much trouble? Thankfully, the answer is no. Bad credit auto loans can really help someone in distress. Understand how it can be useful to you. Also, this article will help you in availing an auto loan with bad credit.

A bad credit often causes trouble. But, a bad credit history never means your car dream is over. You can get a car loan despite your very poor credit score. Lenders have understood that many Americans have a poor credit history today. It is impossible for them to suddenly improve their credit score. Also, it makes business sense to offer car loan to such a large segment of the population.

With a bad credit auto loan, you can buy the car you always wanted. You just need to know the exact car loan process. If you know how and where to apply, you can easily get buy a car.

Affordability Is Important

When opting for such loan or any other type of auto loan, most people tend to miscalculate and end up with a loan beyond their affordability. If you sign the car loan contract without thorough research, you may end up paying more. A complete attention is required to get the best loan rates. So, calculate your total income and expenses and ascertain your budget for buying a car.

What To Expect While Applying for An Auto Loan with Bad Credit?

When your credit score is bad, you must avoid banks and traditional car financing institutions. The reason is that they have stringent lending criteria and so, they approve less car loans applications. You can opt for a credit union if you are its member. Online auto financing companies are also a good option. You can get instant approval on bad credit auto loans because they work with sub-prime lenders.

If you have bad credit history, you cannot expect lowest possible rates. Your interest rates will be higher than the average. Your poor credit score is a red flag for the lender and he considers you risky.

How to Lower Interest Rates on a Bad Credit Auto Loan?

You can lower your interest rates by convincing the lender that you are not a high risk credit borrower. Here are few important tips to help you get auto financing.

Down Payment
By making a down payment of 10%-20%, you can improve your car loan approval chances. The lender will understand that you are capable of making a down payment and will be ensured of your financial capacity.

A co-signer is someone who agrees to co-sign your car loan contract and makes payment if you fail to do so. When you have a co-signer, a lender is assured of his money. So, the lender will not hesitate in providing a car loan.

Using a Collateral
If you have a really poor credit score, you can use your home, machinery or any other car as additional collateral. Even though your new car will be used as collateral, additional collateral will have a positive impact on the lender. The safety of his investment will increase which will be beneficial to you.

So, this is how you can get a bad credit car loan. This loan can really help you in buying a car and improving your credit score.

With so many changes taking place in the economy, one thing remains the same. always offered and will continue to offer bad credit auto loans to individuals with affordable rates. Apply now and hear from our huge network of bad credit auto lenders and dealers. Contact us and get ready to improve your credit score.


Is It Better To Pay Your Home Loan Weekly Every Two Weeks Or Once A Month? Pret Hypothecaire


One often hears that it is better to make mortgage payment once a week, or once every two weeks – prêt hypothecaire.

What is the impact of this strategy?

In order to answer this question, we have to define the two possible bi-weekly payment possibllities:

o accelerated weekly payment

o minimum weekly payment

The method used most frequently is the accelerated weekly payment. This is the monthly payment, divided by 4, so what you are really doing is making more than 4 monthly payments, since there is a bit more than 4 weeks in each month. This is the accelerated payment method because there are an extra 4 payments in a year, so this increases the number of payments you are paying against your loan (hypotheque) balance.

The next method is the minimum weekly payment in which you make the minimum payment that you can on the home loan until it is paid off during its amortization period.

You can see right away that the savings from these two methods will be different. The minimum weekly payment (hypothèque) increases the frequency of payments from 12 times annually to 52 times annually, while the accelerated weekly payment method actually ADDS 4 extra weeks to the number of payments, in addition to increasing the frequency of payments.

We can examine my studies of these two methods of mortgage payments.

The minimum weekly payment

On a $200,000 mortgage, with 5.4% interest and an amortization period of 25 years, the savings is $1,294.12 compared to a monthly payment. The higher the interest rate, the higher the savings, by a large margin – prêt hypothecaire. An interest rate of double that amount would give a savings that is 7.08 times larger.

The home owner will have a 43% savings if he pays his loan every week instead of once every two weeks. The rate of interest is not affected by this.

How is this possible?

The explanation is simple, but difficult to put into words. Since there is less time between each payment, one part of the capital is paid down a few days earlier, which more rapidly reduces the interest paid on the amount that is repaid. The savings is minimum for each payment but increases dramatically over time.

Conclusion: The more frequent the payments, the more savings, even if you do not increase the amount paid. If it is possible, make your payments each week, if not, make them every two weeks – hypotheque.

The accelerated weekly payment – Summary:

1. The accelerated weekly payment increases payments by $23.25 a week on a mortgage of $200,000 amortized over 25 years with an interest rate of 5.4%.

2. The home ($200,000) will be paid off in 1,107 payments, or 21.3 years.

3. The savings will be $28,173.78 (the calculations are at the end of the article)

4. It will be better not to make accelerated payments if you have a fixed or guaranteed investment which earns 7.52% per year before taxes.

Yes, it is imperative to choose the best payment method for your home loan, but the really important thing is to choose the best mortgage strategy for your situation.

Notes : If someone buys a home for $200,000 (with a rate of 5.4%) and pays it once a month ($1,209.16 a month), he will have paid $362,749.83 after 25 years ($200,000 plus $162,749.83 in interest); on the other hand, with accelerated weekly payments ($302.29 per week), he will have paid $334,576.05 ($200,000 plus $134,576.05 interest) in 1,107 weeks our 21.3 years. This is a savings of $28,173.78 ($362,749.83-$334,576.05) to pay the same mortgage.

Gregory is an Accredited Mortgage Professional (AMP). To get more information on Home Loans – pret hypothecaire, please visit: Hypotheque – Mortgage


Instant Decision Unsecured Loans Get Money Without Any Complications

If you are in dire need of money and wish to procure an instant source of funds, then you just have to search for a reliable lender who is offering the facility of instant decision unsecured loans to the borrowers. These unsecured loans are intelligently crafted with lucid terms and conditions and are capable enough of supporting unexpected financial needs of an individual. One can take this loan plan to improve your business, home renovations, purchase a vehicle or even for a much awaited holiday trip.

Instant decision unsecured loans can stand as the most suitable financial tool in case of urgent monetary requirement. Nowadays, many people are taking these loans to clear their pending bills and managing their out of budget expenses. Any individual’s wish of securing an instant access to cash can be met through this loan facility. Moreover, these loans are categorized as short term loans and can be availed for a period of two to four months till the borrower gets the next pay cheque. Instant decision unsecured loans are totally free from the requirement of any security or collateral to be placed against the loan amount and thus, all those borrowers who are not in favor of putting up their home or property at stake can doubtlessly move ahead with this loan plan. However, this leniency does not mean that the borrower can have the advantage of abandoning the repayment schedule as the lender has all the rights to take the borrower to the court and can also lodge a legal complaint against him if the repayment is not made in the stipulated duration.

Under instant decision unsecured loans, any applicant who is above 18 years of age and possess a regular source of income can demand for an amount ranging from £100 to £1000. Generally, these loans come with a high rate of interest, as the lender does not have any surety regarding the repayment ability of the borrower. However, it is good to carry out productive market research so that you can have the chance of availing these loans at considerably affordable rate of interest. Instant decision unsecured loans are open to all sorts of borrowers including the category of poor credit report holders. We all acknowledge the fact that financial security is the most crucial part of a person’s life and everybody wishes to strive hard for that. It happens often that a sudden financial crisis occurs and one does not know, which option to choose, hence, in such crucial situations, these instant loan services come to rescue.

Several finance companies and banks are providing the lucrative range of instant decision unsecured loans. One can easily obtain the entire list of reliable and reputed leaders dealing in this option through the medium of Internet, finance consultancies and loan directories. These unsecured loans are settled with quick and simple processing mechanism and require no credit check. Moreover, the amount retrieved through this loan plan is free from the hold of the lender and thus, can be used to serve any kind of purpose according to the borrower’s wish. So, if you have a requirement of paying your child’s education fees or clearing your pending debts then immediately consider this loan option.

How to Use a Home Equity Line of Credit Calculator

Most home owners know that the lower the interest rate, the lower the monthly payments. But then the process may get a bit fuzzy. While your monthly payments may be the same every month, you are not applying the same amount to the principal of the loan. Your amortization will vary month to month. So, you will have to use a little math to determine how much equity you are actually gaining. Are you confused yet? If you are, don’t worry. There is luckily a very helpful tool that will take the guess work out of home equity loans. Before you commit to anything, you should play around with a home equity loan calculator to determine how much you can borrow. There are many sites available online that give you free access to a wealth of tools and calculators.

What is a home equity loan calculator? Basically, it is a mathematical program that will ask for a few key pieces of information. It will then calculate how much you can borrow, and show you an example of what your amortization schedule would look like. Your lender may use a similar program to determine the amount that you can borrow against your home.

Once you find a home equity loan calculator, you will need to enter in a little bit of information. First it will ask you the value of your home. Typically, the more accurate this figure the more likely you are to get an accurate end result. Most appraisal companies will take private orders, so you can order an appraisal at any time prior to actually obtaining a loan. Prices vary by location, but you can expect to spend a few hundred dollars obtaining a report. Second, you will be asked the amount owed on your current mortgage. This should include any first or second mortgages that you may already have out. Consult your mortgage lender to find out the exact amount owed at the present time. From these two figures the program will determine how much equity you have in the home. You may also be asked for the loan to value ratio required. This is typically 80%, 90%, 100%, or even 125%.

Once you have these figures entered into the program, you are likely to receive a graphical representation of your results. You should receive a chart or graph outlining the amount that you could borrow at 80%, 90%, 100% and 125%, and your estimated monthly payment. It may also include a sample of your amortization schedule, so that you can see how much of your monthly payment is going toward the principal at any given point during the loan. The graph may also show how much you could borrow if you the value of your home was more or less than your appraised value. This can be useful if you are using a ballpark figure or plan to make some improvements to the home in the near future.

The first step in obtaining a home equity loan should be researching your options. A home equity loan calculator is an excellent tool to compare and contrast different loan products and determine how much you will have to pay each month.

John Ross is a freelance author who writes articles about financial loans including: home equity loans company [], online home equity loans [], and fixed rate home equity loans []. The Loanchbox is a user friendly website designed to inform beginners about home equity loans.

How To Slash Taxes Permanently and Fix the Fatal Flaw In the Constitution

The Constitution established the principle that our Federal government only has those powers granted to it by the sovereign people. The Bill of Rights forbade government from making any laws that violated our fundamental political rights such as freedom of speech and the press. It established the principle that we have inviolate individual and political rights that are outside government’s control.

But the Constitution had a fatal flaw — it did not put economic liberty outside government’s control. It gave the federal government the power to coin money, “promote the general welfare,” and “regulate commerce” among the states. Our Founding Fathers could not foresee how these powers would be turned against us. They could not foresee how today’s liberals, Democrats, and Republicans would use these economic powers to create our devouring socialist Welfare/Entitlement State.

Most Americans condemn Communist governments for violating their citizen-slaves’ political rights and liberty. Censorship, secret police, a one-party system, rigged courts, and suppression of free speech and a free press are the standard vicious and painfully obvious characteristics of such regimes.

In Communist countries, the close connection between political liberty and property rights is also obvious. In Cuba and North Korea, the economy and political power are one and the same. The Communist party makes most economic decisions for millions of helpless citizen-slaves. It decides where a person will work, what he can buy, where he can live, how much he’ll be paid, and thousands of other economic decisions that Americans make for themselves and take for granted (although Congress is now increasingly strangling our economic freedom with suffocating regulations).

A Communist government therefore has the power of life or death over every man, woman, and child in the country. It can fire someone from his job and not let him work anywhere else. It can lower a worker’s wages or cut off a retiree’s pension. It can dictate who goes to college and who becomes a laborer. The government can take someone out of the factory and force him to work in the fields, as they did in Cuba, Cambodia, and the Soviet Union.

Through this awesome economic power, a Communist government can sentence a man and his family to death by slow starvation without bothering with legal proceedings. Without property rights and economic liberty, political rights are meaningless.
Most people who are forced to choose between food and free speech will choose food. The communist Cuban government has a constitution that supposedly guarantees political rights, but this constitution is not worth the paper it’s written on. Cubans are already slaves through their government’s total economic power over them.

In welfare/entitlement states around the world, including ours, the same connection exists between political rights and economic liberty. But in a welfare/entitlement state, people still have some political rights and a semi-free economy. As a result, in America we find it harder to believe that government threatens our political rights when it violates our property rights. In a welfare/entitlement state, it’s harder to see the link between political rights and economic liberty.

Welfare/entitlement states have economic powers that are similar to those in Communist countries. France, Germany, and other European welfare/entitlement states regulate wages, heath care, employment policies, product standards, safety standards, transportation, the environment, and most other areas of it’s citizens’ lives. They also loot their citizen’s earnings through taxes to pay for all the welfare and entitlement programs.

A welfare/entitlement state differs from a Communist government only by degree–it’s just a milder version of the same poison. Both have the same goals–to allegedly “help” people in “need,” and both use the same means–compulsion. The difference between the two is how much force the government uses, and whether force is imposed by the communist party or by majority rule.

To confirm this, try not paying your income taxes or refuse to obey some regulation and see what happens. If you resist the tax collectors, you’ll end up dead or in jail. When government withholds income taxes from your paycheck to pay for welfare, subsidy, or entitlement programs, it violates your property rights and economic liberty. Income taxes are simply legalized looting by our own government.

It doesn’t matter that a Communist government owns all property while a “democratic” welfare/entitlement state “allows” private property. What’s important is not who owns property, but who controls it. When taxes confiscate up to 50 percent of your income, as they now do in America, you own only 50 percent of what you earn. When government bureaucrats can control your property with strangling regulations, your ownership is meaningless–your hard-earned paycheck or profits are up for grabs by Federal and state tax looter-collectors.

We all spend what we earn on ourselves and our families. Who in his right mind would give away up to 50 percent of his hard-earned money to pay for other peoples’ education, food stamps, subsidized rents, farm subsidies, health insurance, savings and loan bailouts, or retirement benefits? No one would, and that’s why force is necessary through compulsory income taxes.

Every penny that an alleged “democratic” welfare/entitlement state takes from you by majority-rule force represents a theft of your most precious possession–time. It represents a theft of part of your life, the part you spent earning that money. Welfare/entitlement-state liberals, democrats, and too many Republicans assume that you don’t own the money you earn, and therefore that you don’t own your life. They assume that your duty in life is to work for the benefit of others, not for yourself or your family. They assume that you are your brother’s keeper, whether you like it or not. When welfare/entitlement state bureaucrats loot over 40 percent of your income with taxes, it means you’re a slave working for others for almost five months of every year of your life.

To stop this injustice, once and for all, we have to forbid government from violating our economic liberty. The way to do this is to build a thick wall between government and the economy with a constitutional amendment, similar to the First Amendment that separates Church and State. We desperately need a constitutional amendment that separates the Economy from the State, and creates an inviolable protection for our property rights.

Our religious beliefs are off-limits to government meddlers because of the First Amendment. Similarly, under this new “economic rights” amendment to the Constitution, our paychecks, business profits, and anything else we earn would be ours by right and off-limits to government tax collectors.

Under such a Constitutional amendment, Congress and state governments would be forbidden from raising or using any tax money to give any economic handout or subsidy to any group whatsoever. Under this Amendment, Congress and state governments would be forbidden from giving any welfare, subsidies, entitlement payments, tax breaks, or any other form of money transfer to farmers, welfare mothers, college students, illegal aliens, public schools, big corporations, or any other group that now sticks its hand out for unearned benefits from our politicians. Congress and state legislators would be out of the Santa Claus business with other people’s money.

With such an Amendment in place, special-interest lobbyists would disappear. Just as the Supreme Court overturns any law that violates the wall between Church and State today, it would slap down any welfare, subsidy, or “entitlement” program to any special-interest group or corporation whatsoever, including middle-class programs like Medicare.

Lobbyists would then quickly realize the futility of wasting their time trying to buy or bribe a Congressman or state legislator to pass a law that gave his group a special handout or subsidy paid for by the rest of us. Handouts and organized government looting would be outlawed by this Amendment. Social Security (a combination “insurance” and partial-welfare program), to which millions of hard-working Americans made contributions during their lifetime, would be privatized and phased out, while protecting existing retirees’ current benefits.

When the organized looting of the Welfare/Entitlement state is outlawed by this Constitutional amendment, we could then eliminate the income tax, permanently. The vast majority of money that Congress and state governments spend today is for welfare, subsidy, or entitlement programs such as Medicare, Medicaid, farm subsidies, welfare programs, “public” education, foreign aid, corporate subsidies, ad nauseam. Once we eliminated these looting programs or privatized them, we could slash taxes to the bone. Our trillion-dollar budgets with 400 billion dollar deficits could be reduced down to pennies on the dollar, with no more deficits. Slash government’s spending orgy for the welfare/entitlement state, and we can slash taxes and explode our productivity and standard of living for rich and poor alike.

So what we need to end the legalized looting of the welfare/entitlement state that is bankrupting our nation is a new Constitutional amendment that separates Economy and State, similar to the separation of Church and State. Then we can all once again keep what we earn. Government looters could not steal our hard-earned money in the name of “helping” others, by turning compassion into compulsion.