Your Financing Strategy Ask questions from your bankers which of one these will benefits you most and which one could be costly to you. You can also get free checks when you open your account, you do not need to pay for checks. All checks are processed the same way that is up to you and how you manage your money. -Savings Accounts: Custom Savings, Money Market Account Checking Accounts: Economy Checking, Express Checking, -Regular Checking, Senior Checking, Student checking -Your Debit/Visa Card to use for shopping could be free when you open your account, make sure you ask for it, at times they will ask you if you want one or not. Where you use your Debit/Visa Card to withdraw money matters to your bank, it could cost you for using it at the wrong places, ask your banker for information where you could use your card without paying extra charges... Some banks charges between $1.00 up to $3.00 if you use their card to withdraw money from another bank that they do not do business with. It is your money... Each one of the above has advantages and dis-advantages, be careful when you are opening your accounts; you could loose money to the bank right away. You also need to know if your monthly statements are going to be free or not, when you make inquiries, the bank could be charging you for too many inquiries. Some things are free from the big banks and something's are cheaper from the community banks. Basic Requirements for lending you money: · Savings and Checking Account · (2) Good Credit or No Credit it depends where you are getting the money. · (3) Collateral such as your House, Car, Boat, Gold/diamond or any valuable assets they can hold on · Driver's License, · Social Security numbers · Good Employment, at least for six months. Lenders Information: Big Bank requirements- Can be very tough to meet because they have to abide by the 'Federal Reserve Bank or Federal Deposit Insurance Corporation (FDIC)' regulations. They got their money from the Federal Reserve Bank at a lower rate, however, they could turn around and loan it to the smaller banks at a higher rate, and the smaller banks loan it at higher quote rate to the public. Community Bank requirements/Credit Union: Well, the community bank is no different either, they turn to the big banks to borrow money at a lower rate so that they can loan it to their customers/clients at a higher rate to make some profit to stay in business. Private Capital market requirement: This is where the business gets tougher. The Capital Market enterprise is a big boy on the Wall Street, where they can finance just about anything they like, because they are not being regulated by the government, it is an individual rich businessmen that have money to loan out at a higher rate. They are not required to follow financing rule rigidly as the bank does, but they still have follow the consumer law that protect all of us from being taken advantage of. Family friends requirement: This one is your best source of financing, if you could find a rich friend or family friends that can loan you money without any attachment or collateral. They may ask you to pay them some small interest, or none it all depends what you are using the money for, at they would like to get a piece of the apple when they know you are going to make a lot profit. Collateralization: There some companies out there that would loan you money to meet your emergency needs, but becareful, they may ask you to give them your house, car, motor cycle or any of your valuables for collateral just in case you were unable to pay them back, but, they are very quick to take your valuables and you may not have any re-course to take them to court for doing so. I would stay away from such financing unless you have to... There is going to be a time when we are going to need finance or re-finance our mortgages, car, motorcycle, big boat, air-planes etc., that we cannot come up with up-front lump sum money to pay for it This force us to turn to our bank, family friends, private capital market, small loan companies to loan us that money. This is where we are being taken advantage of by offering us some sort of un-affordable rates. At first you would think this a great opportunity that it will not be problem, you could afford that payment being offered to you by your lender, you better think again before you sign that dotted line. They could be collecting interest from you money for long time without any of it going to your principle. Pay attention to dotted Line and Small print in the loan documents: The loan documents can be very tricky to read when you are not an attorney, the small fine prints areas are very important areas to pay attention to, because this is where they hid rates, timeline, and warrante, but if you don't pay attention to the rates they quote or offer to you in the loan document that you are going to sign you could be losing a lot of money. You probably better off to take to your attorney before you sign the dotted line. In the fine print of the loan documents is where they hid most important information that your lender did not want you to know about, especially mortgage and credit card documents. It sounds strange, but it is true, If you don't believe what I said here in this document, go to your loan documents and read the small prints in there you may find out something that you would not like to see or hear about, or if don't believe what I said here, ask yourself a question of why didn't they just print the whole loan documents in a readable format with nice fonts that an average third grader can read and understand it without having to scratch their head or look up words in the webster dictionary for interpretation of words, after all you are the consumer paying them for this services and they will be collecting interest from your financing for such a long time. 95% of mortgage homeowner never gets to the point of paying principle or their mortgage finance off before being taken away from them, but the bank or private investor already started to benefit. Yes, I understand they took the risk to finance us. I think what is fair is fair, they should make the loan documents more readable for us, and there should be no small prints that is had to read on any loan documents. They should be in a readable format that average Joe can understand; my question all the years was why are they making it so complicated to read if they do not have anything to hide? I also think the loan documents should not have so many pages when we are talking about saving the threes... Not too many consumers read all these pages, it has no value to have so many pages when no one really reads it, of course the attorney will not be making money if they these document could be reduced to minimum. My solution to this big fat loan documents should be to reduce them to minimum, all it should it be contain is, who own the house, the rate, how long is going to be paid, warranty, borrower's and co-borrower, and all other very valuable information it should not be more than 10 pages long.
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5 Kes Individu Menjadi Genius Akibat Kerosakan Otak













Dealing With Finances After the Breadwinner Passes Away Priority one is deciding which member of the family will coordinate issues relating to the estate of the deceased The very first priority will be assigning responsibility for coordinating all matters relating to the estate of the deceased. Normally the mantle falls on the surviving spouse. If the spouse also happens to be terminally ill or physically unable to discharge the role effectively the responsibility may fall on the younger generation, and in all probability the choice would be the senior-most among the siblings. At this point the family begins consultations with bankers, lawyers and creditors and a whole Appoint an executor for the estate of the deceased and identify beneficiaries noted in the will or other documents It is important to understand that financial firms only give credence to legal entities as defined by law. There will be an executor for the estate, a beneficiary in all the insurance policies, bank deposits, stocks, bonds and savings accounts, the question of joint ownership of bank accounts, the power of attorney holder for a checking account, the co-signer of a safe deposit locker or a guarantor to a loan; all these legal signatories will be carefully listed when the estate of the deceased is on the table for legal scrutiny. Only these signatories will have the power to unlock the proceeds of individual accounts or assets. If, for example, the spouse is not the co-signer on a safe deposit article, he or she will have to produce a court order to access the asset. Procure the death certificate for releasing various benefits to legal heirs and other beneficiaries The death certificate is the final document that seals the fate of social security, pension and any other life benefit the deceased has bequeathed. Such certificates are normally issued by the coroner, attending physician, or medical examiner, or in some instances by the justice of the peace. You will need a number of copies of the death certificate because it virtually becomes the passport to access various deceased accounts. Banks will insist on them to close bank accounts and pay their balances to the legal heirs, insurance companies will need them to pay claims, and properties or any other type of asset can't be transferred in your name unless you present proof of Release the notice of death in the print media and set the timeframe for initiation of claims The moment that a person is appointed as the executor of the estate it becomes his duty to collate all assets and liabilities and arrange to pay every outstanding debt to each of the creditors, and then to disperse the balance outstanding to the beneficiaries that are mentioned in the will, or to the beneficiaries that are specifically mentioned in bank and company records. As per Federal and state law a notice has to be published in a local paper announcing the death and giving a specific time to members of the public to raise claims against the estate, and once this is exhausted there is no further legal remedy available to the public. Claim the Life insurance benefits and make arrangements for securing company and workers compensation Life insurance is simpler and claims are usually settled and released within a fortnight of the death. Usually these payments are sufficient to cover funeral expenses, mortgage payments, and utilities. If the deceased was a company worker or manager at the time of his death and he had an individual life insurance policy, there could be a company benefit attached. If the death occurred in the performance of duties such as in an industrial accident there will be company benefits in addition to the insurance company payout and that must be confirmed from the company HR department. Many companies maintain a Flexible Spending Account (FSA), and retirement funds that can be claimed by the surviving spouse. Consider the tax implications prior to claiming spouse's IRA benefits Taking over an Individual Retirement account like the 401k may not be as straight forward as it may seem. If the surviving spouse rolls out her husband's 401k and merges it with her own retirement fund that could be a monumental mistake. By allowing the fund to remain in her husband's name (like an emergency fund) the lady could postpone payment of a big withdrawal penalty. Important lesson: Never leave your family in the dark regarding any aspect of your estate It would be a tragedy beyond all reckoning if your surviving spouse and children have to ferret out the details of your estate from the mountains of paper that you will leave behind. The situation worsens if you die intestate (without creating a will listing the beneficiaries) and leave your estate to be bitterly contested by your children or outsiders looking for lucre. In any case, if you happen to be the surviving spouse your first duty will be to check your husband's personal belongings and the home thoroughly to ascertain that no crucial document goes undetected. An informal discussion with legal luminaries known to your husband may also uncover any will or testament or trust deed that he may have entrusted before death. Confirm whether there is any written record or diary listing assets information Many people love to maintain a diary or black book detailing all their assets and financial transactions to be used as a ready reckoner in case of need, a sort of one stop reference manual to turn to in an emergency. It will list all types of personal information, business details, and contact numbers of their attorney, personal physician, consulting medical specialist, friends and business associates. There could be one section devoted exclusively to credit cards and bank accounts and stock market shares and other money market instruments. It could also act as a checklist informing where insurance policies, car title papers, personal identification documents, and property deeds are stored, and the name and number of the bank safe deposit locker where gold or other valuables are stored. Like the famous black box (or flight data recorder) that helps the airline retrieve information after a mishap, your spouse's black diary could be your ultimate source of confidential family information, and it pays rich dividends to locate it (assuming such a book is available) as soon as possible before the estate planners get to work. What to do if the deceased has a running business concern that needs new leadership This presents a dicey situation and it can't wait even for the funeral to be over. A running business concern is a living breathing entity and it won't work on life support or auto pilot. You have to immediately lay your hands on the Memorandum & Articles of association and company bye-laws, power of attorney documents, buy-and-sell or lease agreements, balance sheet and profit and loss statements, bank account statements and net worth appraisals so that you can smoothly implement the instructions recorded in the will document, if that is available. Many of these crucial decisions need to be taken in the hours or days or weeks following the death when you will also be busy arranging the funeral and many other ceremonies organized by your husband's friends, company workers and well-wishers. It's a depressing and fearful time for the bereaved family members and it takes a lot of grit and determination to emerge from the shadow of the deceased and carve out their place in the sun. You can pay funeral and legal expenses with timely help from an auto collateral loan What catches the family unawares is the suddenness of the death of its beloved one and its circumstances that leave them facing a short period of uncertainty and fear. There will be a funeral ceremony to coordinate, lawyers to be consulted, creditors to be satisfied and business associates clamoring for your attention and advice, and your spouse's estate to be organized. This is the time when money will be desperately needed to fund domestic, funeral and legal expenses. This is the time to unravel the power of the loan for vehicle title. The pink slip loan approves 60% of the equity in your car, at very short notice without onerous formalities, and without probing your bad credit record. The pawn car title loan can be availed simply by submitting your car title documents as collateral. The interest will be affordable at 25% APR. If you desire you can request extended repayment terms to reduce the strain on your existing income.




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