Online mortgages and you

You might feel that online mortgages is pain but let me tell you online lenders can offer you better mortgage rates at lower fees when compared with a traditional bank. It means enormous savings and benefits for you provided one adopts tried and tested method for evaluation of the lenders.

Check out LendingTree which is a search engine that enables borrowers to compare financial products which includes mortgages from online lenders. One of the tools is Look Before You Lock which enables borrowers to compare customized loan offers to sort out the best of the lot.

One of the problems encountered with online lenders is that their appraisers are not local therefore they may not be able to understand the market and in case numbers don’t match the borrower would end up with a higher than expected mortgage payment.

At the end of the day go for a reputable lender in order to avoid troubles later on.

Get free insurance worth £10,000 for your new born child from Aviva

In these times of duress lot of freebies are being offered by lotta companies including insurance companies. Aviva is offering parents of new born child with £10,000 of free life cover for a year. In order to be eligible for the free insurance cover you need to register before the child becomes six months old and it would cover him till he reaches the age of one. Though your full medical history is not required but people receiving treatment for life threatening conditions are excluded from the free insurance cover being offered by Aviva. If you are interested Call 0800 046 6446 or visit www.aviva.co.uk

Co-ownership mortgages being offered by banks

Check this!! Commonwealth Bank and several other banks are launching mortgage products which would enable co owners to keep their repayments separate after it visualized several friends opting to buy a house together.

Already there has been a 300% in the number of buyers opting to take mortgage with their friend in the last six months. This is being opted by first time home buyers who cannot afford it on their own or don’t meet the strict lending requirements. All of them seem to be eager to seek advantage from the boosted federal grant before its expiry by the end of this year. Life is not as easy mate as you might feel!!

Unemployed?? Get free Car Insurance

Recession is at its peak and people are losing their jobs like pack of cards and in this present scenario Allianz has declared that it will be offering free car insurance for a year in case their customer becomes jobless.

Allianz will also be offering free motorcycle insurance for its bike insurers who have lost their job in these difficult times. Allianz will be offering guarantees of Unemployment Protection Auto Insurance. The company will be reimbursing their car insurance policies between August and July 2010 and people who become unemployment before maturity of the policies will be offered free auto insurance coverage for a year. It will be reimbursing the full amount of the premium.

Sounds like music to my ears!!

Now Songwriters get access to insurance cover

Songwriters can now take a peaceful breath as Nashville Songwriters Association International has introduced insurance to insure songwriters facing lawsuits for plagiarizing songs. Starting at $1,600 per year this insurance policy offers a $100,000 in coverage per case for copyright infringement which would be administered by Frost Specialty, a Music Row insurance agency.

You can even opt for $1 million in coverage provided you are willing to fork out $12,000 as part of the group's copyright infringement insurance policy. Until now this was an expensive proposition but now frivolous lawsuits will be a thing of the past.

Hey, what is 401(k)?

Many of us are not simply aware about what 401(k) is? Today I will try to explain and clear doubts about what exactly 401(k) is. It can be regarded as one of the several retirement packages which took shape in 1978 and is defined as 401(a) and 401(k) in several IRS code sections. It offers a favorable tax treatment for both the employer and employee.

Let me tell you all that 401(k) is not some kind of investment rather it’s an account. The account has got limitations with $16,500 being the limit for 2009 and people above the age of 50 can contribute up to $22,000.

Check out the advantages which you can incur by opting for 401(k):

Your contributions are made with pre-taxed salary thereby reducing your income tax.

• All contributions are allowed to grow free of capital gains and income taxes.
• Some employers will match the employee contribution up to a certain percentage. For example, your employer allows you to contribute up to 10% of your salary; if they offered a 50% match and you made a 10% contribution, your company match could potentially add another 5% to your overall salary!
• You can dollar-cost average or create the habit of routinely contributing to your account no matter how the market is performing. By doing so, you buy more shares when the price is low and less shares when the price is high while reducing the overall volatility of your 401(k) portfolio.
• You have the protection of the ERISA laws, which prevents creditors and predators from raiding your retirement savings in the event you suffer financial challenges.
• And lastly, you can take it with you when you leave (and not until then)! You have options. You can take the money out. Or, you can roll it over into your new employer’s 401(k) program or your own Traditional IRA.

One thing you need to consider about 401(k) is that you cannot withdraw money until the age of 59 ½ and in case you withdraw before that you will have to pay 10% penalty besides federal and state taxes which you owe on the deferred amount withdraw.

Seems I have been able to make you a lil aware about the term called 401(k).

Now avoid using credit card for paying your college fee

Beware university students before using credit cards for paying for your tuition fee as this could burn a hole in your pocket. Several universities in US which includes the like of University of Southern Maine, Northwestern University, George Mason University, University of Virginia to name a few are in the process of charging 2.75% processing fee for students using credit card to pay for their tuition fees.

This is being done as colleges are looking to cut costs as they have been facing budget shortfalls. Earlier colleges had been bearing these costs themselves but in these difficult times it has become tough for them.

With more than fifty percent students paying their tuition fee through credit card it would be a tough ask for them in the coming months forcing them to shift to other forms of payments.

Seniors look to reverse mortgage in times of recession

Time is bad and unpredictable at the moment and one of the biggest losers are the senior citizens who are facing trouble in taking care of themselves. Reverse mortgage is one such area towards which seniors are turning to and it has enabled retirees to take equity from their houses in a tax free manner. There is no need to pay back the loan or interest until the property is sold or the owner dies.

To be eligible for reverse mortgage you need to be at least above the age of sixty one and the older you are the higher amount of cash is available. In case the owner of the house dies the heirs have the option to either sell or refinance the mortgage. It is a complex mortgage and with lot of scam artists around you need to be careful enough before opting for it.

Colorado State University Extension offering three scholarships for the Center for Environmental Research and Technology Institute Mitigation Course

Check this out. Colorado State University Extension has come up with three scholarships worth $595 each for the Center for Environmental Research and Technology Institute Mitigation Course.

This scholarship comprises of membership to American Association of Radon Scientists and Technologists worth $250 each. This course would enable people engaged in construction, remodeling or handyman businesses to acquire requisite training for meeting the growing demand of houses in the region.

The scholarship is being offered under the continuing radon education being offered by CSU Extension in Northeast Colorado. In order to be eligible for this scholarship you can contact the Colorado State University Extension offices in Phillips, Morgan, Yuma or Washington counties or send an email to gisele.jefferson@colostate.edu for the application packet. For further information get in touch with Luann Boyer at 970-542-3544 or Gisele Jefferson at 970-345-2287.

Child Health Plus program expanded from 250% to 400% Federal Poverty Level

If you are in the US and don’t possess a medical insurance then you are certainly in a soup as the cost of healthcare in America is one of the costliest worldwide. Just think about what the poor in America would be going through who cannot afford medical insurance for themselves but here is a good news for the poor children out there as the Child Health Plus program has been expanded from 250% of the federal poverty level (FPL) to 400% of the federal poverty level making it one of the most comprehensive and affordable coverage for uninsured kids in Rockland County.

So all uninsured kids would stand to benefit from it as the fee scale for premiums have been reduced but there is a waiting period for kids with family incomes above 250% the FPL which implies that kids having access to employer sponsored coverage should have been uninsured for six months before they can apply.

Selected population has been exempted from it and the Rockland County Health Department will be helping these uninsured children get insurance through the Child Health Plus program irrespective of income or immigration status.