freddie-mac-to-provide-monthly-disclosures

Freddie Mac to Provide Monthly Disclosures

Writen by Martin Lukac

Freddie Mac will begin providing monthly updates on loans used as collateral. The GSE is looking to attract investors for its mortgage backed securities.

Beginning in August, Freddie Mac will provide monthly disclosures on loan-levels for single-family, fixed-rate and adjustable-rate mortgage PC securities issued after December 1, 2005.

The company believes the increased reports will help investors determine how quickly bonds will be repaid. By increasing the level of information, Freddie is hoping to draw in investors.

“Today’s announcement illustrates our continued commitment to providing the market transparent disclosures on our mortgage-backed securities,” said Phil Guth, Freddie Mac vice president of mortgage securitization.

“We believe that providing investors timely, transparent mortgage securities disclosure promotes our mission to provide liquidity, stability and affordability to America’s home financing system.”

Freddie Mac currently has $1.4 trillion in mortgage bonds outstanding. The company is the second largest buyer of home loans in the nation. It has been struggling with a fairly recent accounting scandal, as it’s twin — Fannie Mae — has.

Mortgage bonds are susceptible to rising interest rates. When homeowners remain in their homes longer than expected, the speed of return on the principal to the investor slows.

Bonds are also known to suffer when rates fall, due to the loans being repaid more quickly. Investors like to look for younger loans, as they are less likely to be refinanced.

the-clock-is-ticking-retirement-planning-later-in-your-career

The Clock is Ticking: Retirement Planning Later in Your Career

Writen by Joseph Kenny

Are you ready for retirement? Sure, you’re mentally prepared to leave the everyday rat race, to throw your alarm clock in the garbage, and to spend your days doing whatever you so please. The question is: are you ready financially? If you’re like most Baby Boomers, the answer is probably “no”.

A recent study by the Employee Benefits Research Institute showed that over 50 percent of workers ages 45 to 54 have less than $50,000 saved for retirement. The Center for Retirement Research (CRR) at Boston College completed a study that showed nearly 54 percent of low-income Baby Boomers born between 1955 and 1964 are at risk for missing their retirement savings goal. Research by Fidelity Investments shows that most Baby Boomers have enough saved for retirement to replace just 59 percent of their full-time working income. The numbers don’t lie: most Boomers are not ready to retire, regardless of what they think.

But all is not lost. It’s never too late to start planning your retirement. However, the closer you get to retirement age, the more aggressively you need to save. It’s also possible that you might have to work a few years longer than you thought you would, or pursue money making ventures outside of your life-long career.

Okay, say you’ve hit the big 5-0. Retirement is suddenly not such a far off proposition, but a short-term reality. In no way are you ready financially, so it’s time to buckle down. The first thing you need to do is take a good, long look at that 401(k) of yours. Max it out. That’s right, make yourself a budget and sacrifice if you must, but find every last available dime and pump it into that fund. It deserves your attention. Thankfully, there’s something called a “catch-up provision” that was created for people just like you. It allows people 50 and over to add an additional $5,000 to their 401(k) over the maximum allowed by law in 2006. Not bad. For IRAs, you can contribute up to $1,000 per year as a catch-up in 2006. Do it. It’ll be well worth it.

Once you’ve maxed out your retirement funds, take a look at your personal budget. Sit down and find out where all your money is going, and where you can save. Pay off high-interest credit card debt as fast as you can, refinance car or home loans, phase out your more expensive habits or hobbies; do whatever it takes to save a few extra dollars per month towards your nest egg.

Also, don’t rule out working a few more years. Many people love their jobs, have friends at work, or enjoy being part of the everyday work force. If you don’t have grand plans of jet-setting around the world during your golden years, then there’s nothing wrong with punching the clock for a little while longer. It’ll give you something to do while definitely sweetening the pot when you do decide to retire. Done with working for the man? Then consider taking something part-time or even launching your own start-up. It could be something you’ve always been interested in, but never had the time or drive to actually do. Who knows, it could be something you make money on and will enjoy well into retirement. Nothing wrong with that.

However you choose to build your long-forsaken nest egg, don’t wait a minute longer. When it comes to saving for retirement, time is money.

how-to-pawn-for-cash-what-to-expect

How to Pawn for Cash - What to Expect

Writen by Linda Purdy

When you are in need of CASH you can pawn your personal items for a quick cash loan.
Getting cash on the valuables you already own is easy.
Knowing what to say and how much to ask for will get you more money.

Please bring items in good working order, complete with all cords, remotes, manuals, and/or chargers.
You will need to show that your item is in working order.
Be prepared to tell the pawnbroker how much you would like for your item, because they are a service oriented business, they usually do not make offers.
Don’t expect to receive fully value for your item, pawnbrokers lend only a percentage of what your item is worth because they may have to resell it later. Pawnshops try to sell for about half of retail.
Asking a resonable amount up front will more likely get you the most money for your item.
Not knowing how much you need prohibits them from helping you get the right loan.
Be sure you bring proper identification. Two proper forms of ID’s are required for all pawns.
Your pawned item will be tagged and stored in a secure location.
You will receive CASH for your pawned item.
Be sure and retain your pawn ticket, you need the ticket to claim your item.
The balance on your pawn will be due in 60 days from the pawn date.
You can extend your loan as long as you need, you must make a payment at least every 60 days.
We recommend you make a payment once a month, but it is not required.

personal-accounts-clever-ways-to-manage-your-account

Personal Accounts - Clever Ways To Manage Your Account

Writen by Joseph Kenny

Once you’ve found the right bank and the right account, you may be tempted to rest on your laurels. However, if you want to make the most of your money, you need to give it regular attention. The world of finance is changing continually, with new offers and opportunities cropping up every season. To take advantage of them, you need to keep your finger on the pulse.

Not only should you keep a flexible approach, but be prepared to do a bit of research to keep abreast of the latest financial news. You don’t need to be a stockbroker to read the money pages - most of the Sunday papers carry a finance section aimed at the average person. The internet can also be a good source of up-to-the-minute articles - check Yahoo or the BBC in their ‘personal finance’ sections.

As well as keeping an eye on the money market, you should have a clear idea of how your accounts work. Stay abreast of any direct debits and standing orders - paying bills by monthly instalments can save the hassle of posting cheques, spread the cost of services, and you will often gain from special discounts if you pay this way. However, monthly payments can cause problems if you don’t have enough cash in your account - charges for going over your agreed overdraft can be nasty and are money down the drain. Try to arrange for direct debits to come off around the same time - a few days after pay day is usually a good time, and you’ll often be able to choose which date. When budgeting, aim to plan for the whole year rather than just from month-to-month.

Credit card companies will offer introductory rates to new customers - if you don’t mind changing cards every six months or so you can avoid paying high rates of interest. Look for 0% APR offers on balance transfers and especially those that do not charge a balance transfer fee.

If you have debts, (and these days almost everybody does to some degree) make sure that you are on top of them. The worst thing you can do is ignore them - make sure you know what you owe, and how much interest you are paying. It might be a good idea to consolidate debts - for example converting credit card balances into a low-interest loan or second mortgage. Allocate as much as you can comfortably afford to pay each month, and stick to it. If you are struggling with debt, contact your debtors. They will often be able to help you plan your repayments, and will certainly be more understanding if you keep in touch.

Citizen’s Advice Bureau (http://www.citizensadvice.org.uk/macnn/) can offer support and advice, as can National Debtline (http://www.nationaldebtline.co.uk/): Freephone 0808 808 4000.

pros-and-cons-of-instant-approval-credit-cards

Pros and Cons of Instant Approval Credit Cards

Writen by Robert Willard

Instant approval credit cards have become increasingly popular. With the rushed lifestyle many are living and the need to get things done quickly, it is little wonder more and more people are turning to instant approval credit cards. But, are instant approval credit cards really so great? Furthermore, are there any drawbacks or things you need to be aware of before applying for an instant approval credit card online? The answer to both of these questions is yes, so let’s weigh the pros and cons of these types of cards.

Pro: Instant approval credit card online applications can get a card in your hand quickly.

For those needing the flexibility and freedom of a credit card right away, the fact that an instant approval credit card can take as little as one to two weeks to arrive in your mailbox is a definite plus. Regular credit cards can take up to eight weeks to be processed and sent to you. If you have a project you want to get started on right away, a vacation you want to take soon, or bill that need to be paid quickly, you simply don’t have eight weeks to wait.

Con: Not everyone gets their instant approval credit card right away.

Although instant approval credit cards are billed as “instant approval,” not everyone qualifies quite so quickly. In fact, if you have poor to mediocre credit, your instant approval credit card online application may be put on hold for a few days while the lending company looks into your credit history a little more thoroughly. In addition, instant approval is not the same as guaranteed approval. Therefore, usually only those with an above average credit history will be instantly approved. Of course, an instant approval credit card will still most likely arrive to you much quicker than a traditional credit card, but you might be disappointed to learn you have to wait a bit longer than you originally thought.

Con: Instant approval credit cards often have a higher interest rate than regular credit cards.

While not always true, instant approval credit cards usually have a higher interest rate than regular credit cards. This is how the lending company compensates for expediting the application process. It is also the price you pay for the convenience of instant approval. When looking for an instant approval credit card, be sure to explore all of your options to find one that does not have a terribly high interest rate.

Pro: Instant approval credit cards often have a special introductory rate.

While many instant approval credit cards have a higher interest rate than standard credit cards, they often have a special introductory low APR. This special rate can be as low as 0.00%. Financially, the best move you can make is to receive one of these cards, take advantage of the introductory rate, and pay off the balance in full before the interest rate kicks in. If you want to still use the card for purchases beyond the introductory period, be sure to pay the balance at the end of each billing cycle.

Con: Some instant approval credit cards need to be secured.

A secured instant approval credit card is one that you send money to ahead of time. Therefore, you are never actually borrowing money from a line of credit. Instead, you are using your own money. This type of credit card is really more of a debit card that allows you to spend from your own account. For those with poor credit, however, a secured instant approval credit card can be a great way to rebuild credit or to establish a credit history.

Pro: Instant approval credit cards look just like other credit cards, even if they are secured.

No matter what type of instant approval credit card you obtain - whether secured or unsecured - it looks the same as a regular credit card. Therefore, no one will know that your card was instantly approved or secured, which could potentially leave you feeling embarrassed.

never-send-money-to-a-voice-on-the-phone

Never Send Money To A Voice On The Phone

Writen by Al Thomas

It’s been a lot better since they put that new regulation that telemarketers could not call you when you enter your phone number with a “Do NOT Disturb” sign on it, but a few calls still come through.

Dinner time is still dinner time and I don’t care to be called out of the blue by some no-name broker who wants to make me rich provided I buy shares in this great new issue or some stock that is just about to “take off”.

Usually they start off with do I remember he called me 6 months ago and recommended so-and-so issue that is currently in the news because it has gone up 100 or 200%. Google has been a favorite, but he has a better one. He did not make that call and if he had I am sure I would not remember it. Also the name of his firm is one I never heard of, but it sounds very legitimate and he might even say they are affiliated with Wells Fargo Bank or some other big bank. They might have their checking account with that institution, but otherwise they have no connection. Now he has another recommendation that is going to do even better than that one. Yes, and pigs can fly!

If you haven’t done so yet don’t let him go any further. Hang up. Oh, I know you can’t because your mother taught you it is rude to hang up on people. Please, this time DON’T listen to your mother. He will try to get you into a conversation by asking simple questions that must be answered with a “Yes”. Stop listening. If you can’t bring yourself to hang up then put the phone down and walk away. In 10 minutes he will be gone to call another sucker.

There really are boiler rooms out there selling worthless securities and everything they do is 100% within the law and 100% immoral. How do I know this? I used to own a brokerage firm and I received monthly reports from the regulatory agencies outlining charges against these shady dealers. Fortunately, I did not have those problems as I would not allow hype to open accounts.

Before opening an account with any type of company it is necessary to do due diligence. Check them out completely. Get references from current customers. Call their regulatory agency (SEC or NASD) to see if there are complaints against the company or the salesman to whom you are speaking. Make the salesman prove in writing his story of where and when he bought.

The things being told on the phone are usually too good to be true and that is a fact. Not all brokerage firms are like this, but remember the basic rule.

NEVER SEND MONEY TO A VOICE ON THE PHONE!

property-rights-and-the-eu

Property Rights and the EU

Writen by Jonathon Hardcastle

The European Community (also referred to as the European Economic Community) has as its task the establishment of a common market and the progressive approximation of the economic policies of Member States. The term common market has been defined as an area, which consists of two or more Member States that abolish tariffs and other trade barriers in their mutual trade, set-up a Common External Tariff with third non-EU countries and apply the principle of the free movement of the sources of production (goods, labor, capitals) within the territory of that area.

One of the fundamental principles of the European Union is the free movement of goods between Member States. Thus, Member States are prohibited from imposing any restriction on imports or exports might hinder the free movement unless EC Law allows it. The European Union’s Institutions through their instruments and law regulations strive to develop a free commercial network that does not suffer from custom duties, quantitative restrictions, or other charges having equivalent effect on imports or exports.

While Member States impose these kinds of restrictions in order to protect their own interests, the Court of Justice, through its decisions, acts to ensure that EC Laws are applied. Free movement of goods means in practice that no regulations or restrictions take place on Member States’ borders as Articles 25, 28 & 29 (ex Articles 12, 30 & 34) prohibit them. Specifically, while European Union Members try to impose restrictions of non-pecuniary or pecuniary nature on borders, the Court of Justice acts a “guard” by examining the legal basis and the purpose of the charge imposed.

Such restrictions or prohibitions shall not, however, constitute a means of arbitrary discrimination or a disguised restriction on trade between Member States. A Member State may have resource to Article 30 (ex Article 36) of the Treaty providing for the said exceptions to justify a measure having equivalent effect to quantitative restriction on imports or exports only if no other measure, less restrictive from the point of view of the free movement of goods, is capable of achieving the same objective.

Although the Treaty does not provide any exceptions, the Court has held in the past, that charges levied for tasks required by EC Law or charges for services rendered, do not breach Article 25 (ex Article 12). Regarding Articles 28 & 29 (ex Articles 30 & 36), the Court has introduced an exception called the Rule of Reason. It permits that restrictions can be imposed on goods as long as the Court of Justice allows them.

Concluding, the burden of proof that a measure is justified lies on the Member State’s concern and on the Court of Justice’s decision. In the case of industrial and commercial property rights litigation between private parties, the burden lies on the party seeking to oppose the importation or sale of the product concerned. Save measures relating to the protection of public policy or public morality, the adoption of other measures banning circulation of products and being able to jeopardize the free movement of goods lawfully marketed in another Member State, obliges the Member States concerned to exchange information with the Commission so that the latter to be enabled to manage such measures affecting the free movement of goods and settle satisfactorily for business and consumers any problems arising in connection with the internal market.

lower-your-credit-card-apr

Lower Your Credit Card APR

Writen by Joseph Kenny

APR often matters the most while deciding for a credit card. It is a common (and correct) notion that credit cards with additional benefits invariably have high APRs. This is true for almost every credit card company that exists.

You may be having a credit card that has a high APR but offers you certain irresistible benefits and advantages. It may have some membership benefits that you have become so accustomed to. There can be innumerable benefits for you, but you may realize after a certain point of time that you are paying a high APR for your credit card than the other credit cards in the market. This can be a puzzling position to be in, as you do not want to lose the benefits that you are availing because of the credit card and you also do not want to pay a high APR. In this situation, is there any way to lower your APR? Well, here we discuss the possible manner of doing so.

Let us assume that you have a good credit history. In this scenario, you will surely receive lots of mails and letters informing you of various new offers and schemes. Your mailbox would invariably be filled with unsolicited letters and mails from credit card companies. Your natural instinct would obviously be to tear and throw it in the dustbin but that is not the way to do it. Check out these brochures and compare the services and APR with your credit card company. You can also check web sites and other sources for comparison between various credit card companies. Once you have done a detailed research of the credit card market, give a call to your credit card company and tell them that you got a better offer, in terms of APR and benefits, from another credit card company. It is highly probable that the executive receiving your call would try to convince you. In such a case, make sure that you talk to the supervisor who would be handling the operations. Then pass on the message that you have received a better offer from another company (probably a competitor). The supervisor may ask you to wait for some more time as there are better schemes around the corner. You have to be adamant and tell that you cannot wait. In most of the circumstances, the supervisor would cut down the APR by around 50%. Even if this happens for a period of six months, you have surely saved some money.

No problem, you can repeat the same strategy after a period of six months, unless you really get a better offer!

6-reasons-why-you-should-use-magnetic-mortgage-signs

6 Reasons Why You Should Use Magnetic Mortgage Signs

Writen by Tom Domin

One of the best decisions you can make if you’re originating mortgages is to invest in a quality set of magnetic car signs. Now…I know what you’re thinking…you’re not sure you’ll like the look. Well, if that’s true, you need to shop around a little bit and have a real professional, design and create your signs.

Before you click the “back” button or the big red “X” to close this subject for ever, let’s take a minute and review some of the advantages of using this type of advertising:

1. This is a non-reoccurring expense. Just make a single one-time purchase payment and the signs are yours. There’s no need to make a payment each and every month as would be required with a continuing classified ad in a newspaper or real estate magazine.

2. The signs are removable. Today, many homeowner, condo, and townhouse associations restrict and/or specify what types of vehicles and advertising is permitted in the complex. Since magnetic signs are easily removed…this solves the problem. It only takes seconds to add or remove your advertising from your vehicle.

3. Your signs can be attractive and eye-catching. Isn’t that the whole purpose of your advertising? You want to stand-out from the rest and have your message noticed. Here’s the key…spend some time planning the layout of your signs. Don’t leave it entirely to the sign company. You know the mortgage business and the message you want to convey. You need to be 100% pro-active in the design phase. Remember to request and then review a proof before your signs go into production.

4. Your signs are low maintenance and have a long life. Yes…just follow the instructions that come with your signs. Every sixty days or so, the signs need to be removed, cleaned with warm soapy water, and then air dried. My signs have lasted for years and are as good as the day they were purchased.

5. This is a great low-cost…low-budget…mortgage origination idea. We’re not talking about hundreds of dollars here. The last time I checked my local “Sign-A-Rama” franchise, the cost of a set of two (2) magnetic signs to include design layout and proof was about $80 plus tax.

6. Your signs generate an immediate response. You don’t have to wait for publication dates and delivery dates required with other forms of advertising. If you’ve got a good message…you’ll get calls immediately. Many times I have even received phone calls from people driving next to me wanting to know if they would qualify and seeking more information.

Now that’s what I call an immediate response! Believe me…the signs do work and they are well worth your investment. Most calls you receive will come in that evening, which is still a great response. Your signs will pay for themselves many times over. Go for it!

Hmmm…just think…with such a nominal cost…and, if your friends and family would help…you could have a whole fleet of cars running around town displaying your mortgage message and cell phone number. Not bad! Not bad at all!

what-is-skimming

What is Skimming

Writen by Mark Lambie

In speaking of drawbacks of credit cards another form is the fraud of making copies of stored information upon the credit card, also known as “Skimming”. This has become extremely popular for those who are making the business of stealing other peoples financial information and making use of it. Each time you let your credit card leave your hands, you run the risk of credit card skimming.

In general, skimming occurs in a public place such as a restaurant, shop, or retail store. Anyone who is dishonest and in the fraud business such as a cashier or waiter could swipe the credit card for payment of their services and then unbeknownst to you swipe it a second time in a device known as a “skimmer”. A skimmer is a small device that is similar to the size of a pager that has a slot; this is purchased very easily on the internet. What it does is it will record information stored upon a credit card (magnetic strip) and it will do so extremely fast. Then the information that it records is passed to thieves who will then put the information upon a credit card that is counterfeit.

This essentially means that your money is now in the hands of the thieves. There is only one way to prevent this action and that is to make sure you always keep a sharp eye upon the credit cards. Skimming has also known to take place at various unwatched ATMS such as those within a mall. Your credit card could become stuck within the ATM or done in such a way that you believe that the ATM has kept your card for some reason, but in actuality, the thief has inserted something within the ATM in efforts to steal your card along with a camera that has recorded your pin number.

It is important that you become extremely aware of your surroundings and keep close eyes upon your surroundings. Make sure, if the ATM ever keeps your card that, you immediately report the instance to the bank or Credit Card Company. Additionally, you should ensure that each credit card statement you receive, you carefully examine it for anything that should not be on there. Make sure you keep all limits of credit low upon credit cards to help minimize losses if you do fall prey to skimming. With the risks of being financially crippled, you should be keenly aware of any and all activity in regards to your credit cards.

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