Why Fixed Rate Has Limited Use for Reverse Mortgage Customers

By Toome Vanrock

As information slowly diffuses throughout the senior community regarding reverse mortgages you might surmise that, as a reverse mortgage specialist, I spend a tremendous amount of time educating.

My discussions with my senior customers always get around to the interest rate and which way to go based upon their individual situations. Fact - The fixed rate works well for very few seniors.

Older Americans are more conservative. As such they have a hard time with this when I say, "you're going to want the adjustable rate option". To avoid them walking out of my office I explain myself quickly.

The reality is the fixed rate option is does not offer the flexibility of the ARM. Only the adjustable rate offers the borrower a line of credit option. The fixed rate, rather, forces the senior to take out money one time and one time only.

By allowing the choice of when to draw out money the adjustable offers the borrower an uncontestible advantage over the fixed in that interest accrues only on drawn out money. The rest is safely not accruing interest against the equity of the home.

This being so, the one borrower for whom it makes sense to go with a fixed rate reverse mortgage is the the one in need a sizable upfront sum of money.

Perhaps the best candidate for the fixed option is the senior in need of paying off a large mortgage. Many times the borrower qualifies for very close to that which it takes to pay off the mortgage. Very little is left in the line of credit. The senior accomplishes a financial task and takes the conservative bet with the fixed rate.

Right now the adjustable is extraordinarily low, but its fifteen year average and the current fixed rate are roughly equal. For the conservative reverse mortgage customer looking for a large upfront sum the safe bet is to go with the fixed rate.

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A more comprehensive analyisis of fixed versus ARMS is at the the Texas guide to rates for the reverse mortgage. Questions, answers and great U.S. and Texas links are at reverse mortgage edu.

Retirement Life - Plan Ahead For Greater Satisfaction

By Michael Geoffrey

Retirement changes your life dramatically. Some who have reached retirement age realize that though they were financially prepared to care for themselves throughout their retirement they were not mentally and emotionally prepared for this major change in their daily life. It is important to plan not only your finances but also your life.

When you are accustomed to going to work every day you may find it difficult to fill your time with home repairs, housework or yard work. Your "to do" list will just keep getting shorter and shorter.

Of course people who have worked hard throughout their lives deserve to rest in their retirement. However, some find that they need something to fill their time. They are not ready to simply stay at home. They would like to continue to use the knowledge and skills they acquired over the years in a productive way. For these people good retirement life planning can help them examine factors to help them determine what options are available to them during after they have retired.

Everyone lives by certain principals that govern his or her life and decisions. Each individual over the course of his life has set these established these principals and lives by them. When planning your life during your retirement years the principals that govern your life will help you determine what things will take precedence in your retirement.

Rekindling Passions In Life

Most of us have many dreams of things we would like to accomplish in life. Most of us have also had to put some of our dreams on hold as we cared for our families and our financial responsibilities. Work has a way of eating our time and getting in the way of our dreams. But retirement is a time to dust off those old dreams and begin to work to accomplish the things we always wanted to do but never had time for.

After a number of years on the job, there is experience that can be shared with others just beginning their work phase of life. By sharing management skills with others they can learn from you and you can feel the gratification of helping others.

Actively helping others is a good way to have a fulfilling retirement. There are volunteers needed in almost every area, especially in the field of medicine. Volunteering your time and experience creates a wonderful feeling of satisfaction.

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Before deciding to cut up credit cards to help you get your debt paid off, you'd better understand how it can affect your credit score. Find out what you'd better know first on the Debt Smackdown website at http://www.debtsmackdown.com

How To Improve Credit Score

By John Cooper

Improving your credit score can seem like an impossible task. This is because there is so much contradictory information and the scoring model makes you feel as though you have no direct control over your credit score.

This is incorrect. If you take a few steps you can positively influence your credit score.

1. Disputing and removing bad credit items on your report. You can do this yourself or hire a service but it will help your score the most.

2. If an item is verified then work out a way to pay them in exchange have the item removed from your your credit report.

3. Pay your bills on time. It is alleged that missing one monthly payment can cause your score to drop by up to 50 points.

4. Open a new line of credit. You will get the most benefit if this is a revolving line of credit. We recommend an unsecured credit card.

By paying your monthly bill you will develop a positive payment history. This is a heavily weighted factor when your score is being calculated. If your score is currently to low to get an unsecured credit card then open a secured card just make sure it reports to all three bureaus.

In addition by keeping your balance at approximately 10% of the credit limit it will build the most credit. This shows that you use your credit and use it responsibly.

5. Pay down you large debts. This will help your ratio of available credit to debt. The bureaus want to see that you are not in over your head and the best way to show this to them is by having available credit.

These are the only factors you should focus on when improving your credit score. There is one last tip that is surrounded in controversy.

6. Piggy back credit, this is when you are added as an authorized user on an account with a high credit limit and low balance. The benefit you get is the account is not reported on your credit history.

This tactic was widely abused and the scoring model has made some changes. It is said to have removed the benefit however it is debated as to if those changes have taken place yet.

In sum, focus on steps one through five and you are on your way to a 700 credit score. You don't have to live with bad credit you can increase your score and your quality of life.

About the Author:

To learn more about how to remove judgments, charge offs, late payments, collections or any negative mark or to learn about lexington law firm a professional credit repair service visit us.

Best Debt Consolidation Company

By William Blake

Looking for the best debt consolidation company can be a long and difficult process. There are lots of different companies to look at and they all offer different plans to choose from. Most of the companies will have different interest rates and different payment plans. There is a certain plan for everyone. If you are looking for a debt consolidation company to handle your debt, then you should make sure that you do your research.

Debt Consolidation Company

A debt consolidation company is a company that will help you get on your way to being debt free. These kinds of companies do not necessarily give out loans, but they may just give out advice and help people get themselves on the right track to being debt free. They will give you consoling and help you make good choices when it comes to your credit.

How Do These Companies Help With Debt?

If you are drowning in debt, debt consolidation companies will act as a life preserver and can save you from continuing to make bad financial decisions and sinking even further. If you have high interest debt they can help get these reduced which is a big step to recovering because you apply less money to interest and more to principle balances. They explain how you can better budget your money so you can make timely payments on your bills and avoid late fees that can accumulate and put you further in debt.

Comparison Shopping

There is a wide variety of help available to you and you can review all your options on line. You can use the internet to research different companies and the plans that they offer and then determine which is best for your personal needs. These companies help you improve and control your spending habits and also teach you how to save money. Some companies work only via the internet and some may have offices near you. It depends on which approach you prefer. The options are practically endless and the choice is yours.

Get Control

When you are in control of your finances and can get a handle on your debt you will have a more secure feeling when dealing with your finances and it will give you confidence in your financial decisions. When you have the power to eliminate your debt and avoid future problems you are on your way to better peace of mind and a successful financial future.

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Traffic Exchanges And How They Work

By John Blanchard

One of the most popular way to drive free international traffic to your website is what we call a traffic exchange program,there are a few different types of traffic exchange on the Internet the most common one is the auto surf traffic exchange,manual surf traffic exchange and finally the pro traffic exchange.

The quality of visitors from the auto traffic exchange is very poor,but if you are looking to build your Alexa ranking they work very well,you can receive allot of hits to your website in a remarkably small amount of time with hardly any effort at all.

Manual traffic exchange can give you some quality traffic because the person viewing your website must wait typically 10 to 15 second before moving on to the next website in rotation in the traffic exchange,depending on the product or service you are offering expect fairly good results.

People are more likely to purchase you product or service because if you think about it they actually paid a membership fee to join the traffic exchange,this mean they are not afraid to spend a little money online and are more likely to purchase again.

How does the traffic exchange work? you log on and start surfing the exchange viewing other members website you now earn credits for each website you visit,in exchange for your credits other members of the traffic exchange view your website.

banners and text links are also allowed and popular on traffic exchange when people a re surfing the traffic exchange your text links and banners will rotate with other member links and banners on the surf bar.

If you need international traffic the traffic exchange is very convenient way to promote your affiliate page or website,don't waste your time if you are looking to target a specific area or local area

Hundreds of traffic exchange can be found all over the Internet,they have become very popular the last 5 years or so,you can find new ones almost every day.

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Here is a example of an manual traffic exchange Flllow This Link

Do You Have Too Much Debt?

By Steve Collins

Do burdensome financial troubles make you wonder if you are days away from eviction? Do you dread opening your mailbox, knowing it will be full of past due notices? Do you have bad dreams about being unable to satisfy creditors? Do you live from paycheck to paycheck? Consumer credit advising may best be the best way of addressing these severe worries.

Consumer credit advising is for people whose finances have deteriorated beyond their ability to manage them. When you are ready to admit you could use some assistance getting things under control, consumer credit advising is available.

Consumer credit advising starts with an appointment in which you and your adviser will look at your financial records, taking stock of your wages, your expenses and your debts. Together you will decide where you can cut expenses and draw up a monthly budget plan. If your ability to manage your debts alone is in question, consumer credit advising may lead to enrollment in a debt management program or DMP.

Consumer credit advising and DMPs are designed to help you get out of debt. With a DMP, you and your advisor decide on a monthly amount to be turned over to your advising service. Your advisor then acts as a go-between for you and your creditors. The objective is to get late payment fees reduced or forgiven, the length of your loans extended and your interest rates reduced. The consumer credit advising service pays your creditors through your monthly payments.

Consumer credit advising can help you organize your finances. Getting out of debt will not happen straight away. Consumer credit advising can teach you how to manage your budget, and help you establish a repayment plan you can live with while fulfilling your obligations to your creditors. If you've hit a financial brick wall, consumer credit advising is an option to consider.

About the Author:

Steve Collins is an author and journalist. In these trying times, he knows the importance of obtaining effective debt solutions if necessary. Read his article about debt solutions here.

How to Use Debt Consolidation to Return to Financial Solvency

By Chad Obenken

There are many advantages to securing a debt consolidation loan when you have bad credit, not the least of which is alleviating the anxiety and stress that accompany an unmanageable level of personal debt. As the level of debt in your life creeps up to an unacceptable level, depression and physical health concerns are not uncommon. Debt consolidation can be the light at the end of the tunnel that will restore you to sanity and good health.

In addition to improving your credit score, debt consolidation can relieve the pressure you may be facing from one or more collection agencies, which have been known to use stress-inducing methods to achieve their goals. If you could roll all of these stressful obligations into one manageable monthly payment, you would begin to feel human again, and with each successful payment, you would feel your dignity restored. At the same time, you would be protected from harassment by the collection agents.

There are specialized debt consolidation loans for people who have fallen into a bad credit situation. As your financial situation deteriorated, most likely you defaulted or were late on several of your loan payments, and each problem payment has a detrimental effect on your credit score. After enough of these problems, you would not be able to qualify for a regular debt consolidation loan, due to your poor credit rating. This can leave you between a rock and hard place, financially speaking.

These debt consolidation loans for bad credit would accept your application even with a low credit score, pay your bills on time every month, and in the process, increase your credit rating a little bit with each payment. In a year or less, you would regain not only your credit rating, but your financial reputation and self-respect.

The companies that offer debt reduction programs would negotiate with each of your creditors to get your credit terms revised to the best possible interest rate and repayment schedule. They can often negotiate down any late payment fees or penalties that are due on the account. This creates a win-win situation for everyone. The creditor gets paid, and you end up with a lower monthly payments and a restored credit rating. Each month, you would pay the consolidation company one payment that is lower than the sum of all the payments that were due before. This allows you to get out of debt as fast as possible while at the same time giving you more available cash to spend living rather than paying to credit card late fees and interest.

So, don't let the depression related to over-indebtedness keep you from getting a consolidation loan today to begin improving your financial situation, stress level, and mental health.

About the Author:

Chad Obenken wrote almost entirely for http://www.creditenio.com , a website about settle credit card debt and consumer debt counceling. You can see his articles on credit card debt settlement and settle credit card debt here.

Pay Off Your Debt

By Michael Benifez

If you've decided that you are tired of constant calls from debt collectors, it's time to do something about your old debts. If you feel that you are buried under your debts and it is impossible to pay your way out of debt, you are not alone. When you find yourself in this situation, you should consult a debt counselor, who is trained to help people like you achieve freedom from their debts. They can help you get your debt under control. They'll also help you plan a budget that you can stick to, and teach you good financial strategies. Their advice can help you keep yourself out of debt once you are finally debt-free, because you'll learn good spending habits in the process of reducing your debt.

Other choices when you find yourself faced with extreme debt are filing for bankruptcy, or trying to find a loan to consolidate your debts. Compared to these choices, debt counseling is an excellent alternative. If you file for bankruptcy, your credit rating will be ruined for several years. In some cases, you may even risk losing your personal property by filing for bankruptcy. This is a serious undertaking, and it should not be taken lightly. Bankruptcy should be your last resort if nothing else works to get you out of debt.

For some people, debt consolidation loans can work for paying off their creditors. However, the debt will still exist under the new loan, and many people do not alter their spending habits, landing right in the same place again increasing the stress caused by debts. Plus, because debt consolidation loans are offered to people considered high-risk, they sometimes require the use of collateral. If you are unable to repay the debt consolidation loan, you will lose this property.

Unlike these two often-used options, professional debt counselors work with you to create a repayment plan you'll be able to follow. They will also help you create a reasonable budget, so that you'll be able to find the money to pay back your creditors. It won't be easy, but with time you will pay off your debts. Then the phone calls will finally stop. Plus, you'll have the tools to keep yourself out of financial difficulties in the future. Many people fall into debt because they do not have a budget that they can stick to. By going through a debt counselor, you will be able to plan a budget that will keep you from overspending.

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For your information there is much more on the topic of stress of debt. Visit our evergrowing library at http://www.everlife.com/reducing-debts.php.

Do The Best Credit Repair Services Improve Your Credit Score?

By Leona Allen

The best credit repair services set realistic expectations, while taking much of the drudgery out of fixing your credit score. While none of them can perform magic, the best credit repair services can help improve your credit score.

There are hundreds of credit repair services advertising today, but the Federal Trade Commission considers most of them to be scams. Companies that claim they can help you erase bad credit, or offer guarantees to raise your credit score, are probably scams.

According to the FTC, "No one can legally remove accurate and timely negative information from a credit report." Many of these companies will advise you to dispute all negative entries on your credit report. In most cases, this is illegal, just as following illegal advice is.

The best credit repair services won't ask you to pay in order to get your credit reports. Under federal law, anyone can get their credit report from each of the three credit-reporting agencies (TransUnion, Experian, and Equifax) once every twelve months for free.

Much of what these companies do are things you can do yourself, however they can often help inform those who may not be aware of all their options. Taking on some of these tasks can help lower fees, or you can chose to do the whole thing yourself.

Besides credit repair services, there are companies called "debt consolidators". These debt consolidators won't directly fix your credit, but instead they work with you to help bring your outstanding debt under control - a big step towards long-term credit-worthiness.

They accomplish this by contacting your all of your creditors, and negotiating a 'settlement' agreement on your behalf. This will be a small fraction of the actual outstanding debt. Then they add these amounts into a single sum. Based on your budget and ability to pay, you send a single amount each month to the company, who breaks it up and then sends a portion to each creditor.

Even the best credit repair services can't help those who aren't willing to help themselves. They won't offer you the same sort of "bailout" that erases bad debt like a bankruptcy filing does. What they can accomplish, however is to help set you on the right path towards improving your credit score, which in turn will improve your financial future.

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Starting Your Own Credit Repair Service

By William Blake

To start your own credit repair service is not an easy task. You are going to have to really educate yourself on the laws that affect credit repair. These laws differ between states so this is quite an education process. Also there is much to learn about credit repair itself. If you want to start your own credit repair service you must be ready to spend a lot of time educating yourself.

All of the information that you have to know in order to know how to run the best credit repair service can get a little confusing. While it is hard work, it is certainly not impossible to learn how to start a credit repair service.

Learning how to start a credit repair service may be easier if you have some experience with that kind of work. Typically, those who have worked in the industry, even under someone else's company, will have a better understanding of how to start a credit repair service.

If you do not have any experience in the area it might be a good idea to try to get a job that will give you the experience you need. That way you will be getting the education you need to start your own company while getting paid.

Where to Learn More

When you start your business you want it to benefit you and your customers. That means you have to really know what you are doing. There are tons of books that have been published that explain how to go about credit repair or that explain the laws and regulations that govern this type of work. You should try to read everything you can get your hands own so that you will be sure you really know what you are doing. This is going to be quite an undertaking. But it will equal business success in the end.

A good thing to do, if you have not already, is to take a class on business so that you have a little bit of basic business knowledge to help you out. While you are running a very specific business, basic business knowledge applies everywhere and it is something that you need to have.

This may seem like a lot of work but it hard work is the only way to have a successful business. If you get the education and put in the time and effort necessary you can start a business that will bloom.

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Can cancelling a credit card save you money on your debts? Get the inside scoop on the Debtopedia website where you can get a free copy of my report Secrets Of Credit Card Debt

A Guide to Career Planning Retirement

By William Blake

Retiring is something that people don't often begin to think about until they are nearing retirement age. That is not a wise approach. The earlier you think about retirement the better your retirement plan will be. Retirement is a milestone in a person's life and should not be taken lightly. On you first day of work at your very first job you should begin a plan for your retirement years. That may seem premature since you have several working years ahead of you. But really it is never too early.

The more time you give yourself to save the more you will have saved when you are ready to retire. It will not matter that you are not able to put aside lump sums of money at a time. If you put just a little away on a regular basis over time that will add up not to mention the interest that it will accrue. When you reach the age of retirement and look back you will be glad you started so early.

Career Planning Retirement

Career planning retirement basically refers to the process in which you decide on a career that is going to offer you satisfactory retirement benefits. Really, career planning is an ongoing lifelong process that allows you to change your career direction as circumstances in your life change, retirement or otherwise.

Whether you are just beginning to think about the type of career that you want, you have lost your job due to downsizing or restructuring, or you are considering leaving your present job for another, career planning is often an important aspect in everyone's life.

Factors That are Involved

Your career should fit you. Of course, there are other things that you have to consider. But your first priority should be to make sure that you choose a career that fits the person you are ??" your likes and dislikes and your abilities.

Making sure your career suits you is not the only thing to consider. It is important to take into consideration the type of retirement plan that will be available. You want your career to fit you now so that you can be happy and enjoy life now. You also want your career to have a good retirement plan so that you can be happy and enjoy life in the future. Both are equally important.

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