AARP.. Law Didn't go Far Enough to Reduce Reverse Mortgage Costs

By Jerry Smith

In the Fall lenders offering reverse mortgages or HECMs started funding reverse mortgages with two big differences legislated in the Bush housing bill.

The one most people were concerned about was FHA increasing its its national loan limits up to four hundred seventeen thousand dollars. The other, less known change, was a reduction in lender fees.

Here is how it works; the origination fee is two percent of the value of the home up to $200,000. For values above 200k and up to 417k the fee increases by 1%.

To give you a scenario we'll assume the home is worth $350,000. The fee for the initial $200k is $4,000. Add in an extra $1,500 for the value between 200 to 350 and you arrive at a total fee of $5,500.

A 2% across the board origination fee was the order of the day prior to the the new law.

What concerns me is why the lender is getting the proverbial finger pointed at it. I mean how low can the origination fee be before the lender goes bellie up.

These fees pay processors, loan officers, marketing, office rent, and then finally go into the owner's pocket in the form of profit.

What's more this lender fee is no more expensive for reverse mortgages than it is with forward mortgages. Forward mortgages simply hide the difference in the form of a higher rate.

How a forward mortgage ends up costing the borrower as much as a reverse mortgage is in the "service release premium". This is is a fee the bank pays the mortgage company inside the rate. They may charge 1% but there is backend money in those loans.

Although reverse mortgages have SRPs they are very small, which is why the higher origination fee must be charged.

I have to wonder if AARP has any idea of what goes into mortgage origination and the complexities therein. Are they being real at all.

Afterall, they do have a growing senior population to sell insurance to. Do they ask their client insurance companies to take a hit like they mortgage companies?

Oh, don't think so. Insurance commission is the number one money maker for AARP. It's a money train.

AARP is not so pure and they should to sit this one out.

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TrustedID, Your Affordable Stolen Identity Protection Solution

By Harvey Warmuth

With the incredible proliferation of ID theft, there have been several companies that have been formed with the distinct objective of making it easy for you to fight back. These identity theft protection services essentially lock down your credit report so that you are contacted whenever a new credit account is opened in your name. These companies also check multiple sources to see if thieves are using your personal information.

If you need identity theft protection, then you really need to take a look at the leading company, TrustedID. With personal plans costing just $10 per month, TrustedID gives you the most comprehensive protection from identity theft of any of its competitors.

When you use TrustedID, you get fraud alerts posted on all of the major credit reporting agencies, which means you are notified before any new financial accounts can be opened using your personal information. This means you are the only one who has the authority to open up new credit in your name.

With TrustedID you get annual credit reports from the major credit reporting agencies, so that you can ensure that your credit report is showing only what it is supposed to be. By making sure your credit reports are accurate, you are taking a step to ensuring your credit remains good.

When you add in their constant monitoring of the underground trading market and other sources to make sure your person data is not being traded amongst thieves, TrustedID is a great identity theft prevention service. You will be notified the instant any unauthorized activity is detected, allowing for you to keep tight control over your identity.

With customer service available around the clock, and with a service plan to help you fight identity theft for everyone in your household costing under $16 monthly, TrustedID is one of the best choices for identity theft protection. With a risk-free 30-day trial, you have enough time to see if TrustedID is the best solution for your situation.

TrustedID is not the only service that protects your identity, but they are one of the best. When looking at other solutions, pay attention to the number of features offered, as most competitors cannot match TrustedID's level of service.

Start protecting your identity today by using an identity theft protection service. The piece of mind that comes with such a service is worth much more than its monthly cost. Take the necessary steps to not be the next victim of identity theft by enrolling in identity theft protection today!

About the Author:

Author Harvey Warmuth wants you to protect your identity and use a online credit report identity theft service. Find out how to get your free, 30-day trial of the TrustedID service by visiting his website: TrustedID

CFD BROKERS Singapore Stock Exchange

By CFD BROKERS

So you are Trading Contracts for Difference on the Singapore Stock Exchange or you are thinking of trading CFDs on the Singapore Stock Exchange, then this maybe the most important article that you read. As selecting the right CFD Broker is an important as selecting a winning trade.

So give yourself every chance of success and make sure you have the Best CFD BROKER.

Online brokers give an important role to play when you open an online trading account. Every Last broker can offer different services and features. You must research all the online brokers to find the foremost broker to meet your needs. I experience listed a huge number of online brokers and placed their information for you to read in one easy-to-read webpage. This is a free, "no-cost to you" service for our valued readers and can be seen on this link: Best Online Brokers or email support@cfdfxreport.com

What to look for in an online broker.

Brokerage House rates - this is the value at which you are charged for buying or selling through your online account. These rates are usually charged based on a sliding scale. The more units you purchase in a single transaction, the less the "cost per unit" you will pay. The correct sliding scale can vary and may sometimes be negotiable for larger buys. Comparability each broker and read the fine print within contracts. Selection the special that best meets your buying and selling style.

Account fees - Look for secret fees in account contracts within the terms and conditions. I recognize of one broker who requires an extra $10 to transfer money out of an account "quickly" as against withdrawing money normally. Hardly a common fee, I'd say. All fees should be listed in the terms and conditions listed in opening an account.

Phone access - Online services can go down during hours of service. Gaps to broadband services, power outages and computer problems can stop you from accessing information you need at critical points. This is why you must experience phone access to your online broker. Do not even consider using an online broker if they do not provide phone access.

Access to your money - I favour having instant access to my money sure though it is held in a cash account by the broker. Most brokers will experience a cash account facility that is linked to your trading account. My account is linked to a MasterCard account, which means I can access that money anytime through any ATM or make purchases as I would normally using a MasterCard. Don't be misled into thinking you must only experience a separate cash holding account with the online broker. There are lots of options open to you as a client and good online brokers will provide several options for your cash holding account.

Extra benefits - essay out those brokers that give you extra inducements to open an account with them. Some offer a limited free brokerage period. Others will offer free reports on the markets you are interested in. These bonus offers can help you getting you account given and setup a profitable trading account. For more information on finding the best online stock broker feel free to visit our website.

The CFD FX REPORT is the real time traders tool, that gives you daily trading ideas, stock market and forex education..

About the Author:

The CFD FX REPORT is the real time traders tool, that gives you daily trading ideas, stock market and forex education.. Helps find the best CFD BROKER AND FOREX BROKER

Ten Questions to Ask Yourself Before You Remortgage Your Home

By Troy Cruz William Engle Dawn Khoury James Nissen Robert Hill Chris Laning Janet Taylor Jack Enders Bruce Gross Rick Bean Keith Wood Ray Johnson Alex Velez Juan Hines Paul Holtz Kenya Rios Peggy Dye Neal Dawes Lucas King David Hebert Karl Howell Jarrod Lucky Ruth Coats Doris Lund Ryan Hudson Henry Bush Lonnie May Arlen Bell Wanda Kuebler Kevin Stiles Nick Horton Jorge Pina Frank Vera Fred Brod Jose Cruz Jeremy Stanley Mark Jones Kelly McMahon Barney Bernard Ailleann Alan

If you are thinking about remortgaging your house, you are probably wondering whether or not it's the right move for you. A lot of times, remortgaging is not necessary, and other times it's totally necessary if you want to save your house and not go broke in these tough financial times. After answering these ten questions, you are going to know whether or not remortgaging is right for you.

1. How good is my credit? Knowing where you stand when you want to remortgage your house as far as your credit goes is going to give you an idea of what type of interest rate you are going to get on a new mortgage. If your credit isn't that great, you may want to wait until it gets better to consider remortgaging.

2. What is the interest rate on your current mortgage? If a mortgage is not going to save you that much money, you might want to wait a while longer. It's a difficult process, so you want to make sure that it is worth it and that you will save the most money possible. If you wait, you can always see if the interest rates drop even more.

3. What's the current rate of interest that banks are offering? There's a current rate of interest that's pretty much standard with all remortgage companies, so you are going to want to find out what that is and figure out how much money a remortgage could save you every month in your bills.

4. What are the fees associated with remortgaging? Every company is going to have different fees for remortgaging, and you want to choose a company with the lowest fees. However, sometimes the fees can be hidden so make sure to read the contract thoroughly.

5. How much longer is your mortgage? If there isn't much time on your current mortgage, it might be best if you just worked on paying it off as quickly as possible. You will need to weigh the benefits paying off your home quickly or getting a better interest rate. Remortgaging is not usually going to speed up paying off your house, just make it less expensive.

6. Do you plan on moving anytime in the future? If you plan on moving in the next one or two years, it probably won't be worth the time and effort to remortgage. Just ride it out and get a better mortgage when you get a new house.

7. Is the family happy? If you are going to get a divorce (or get married) in the near future, you are going to want to wait to remortgage your house. Remortgaging is expensive and not a fun thing to do, so you don't want to do it more often than you have to. Do it only when you have to.

8. How long has this been on your mind? People often see advertisements and get swept away with the notion of how great it would be to remortgage without realizing that it is a lot of work.

9. Do you have the patience to remortgage? This is a big process and will take a lot of your time. If your calendar is full, don't choose now to remortgage, because it is going to give you a bit of stress.

10. Have you talked to any banks? There isn't any harm in going and talking to some banks to see whether or not they think that you are a good candidate for remortgaging. If you decide that it isn't for you, there is no obligation to go on in the process.

Remortgaging is a huge process and knowing when to remortgage is not always that clear. By asking yourself these 10 questions, you are going to be able to tell whether now is the right time to remortgage.

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Get Rid Of Debt With The Help Of Debt Counselor

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.

About the Author:

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