Credit and Loans

Studies Find Premiums Based on Credit Scores Help Add Accuracy – People With Bad Credit More Likely To File Insurance Claims

Studies Find Premiums Based on Credit Scores Help Add Accuracy – People With Bad Credit More Likely To File Insurance Claims

Sizemore

(Best Syndication) Legislatures have been slow to ban the use of credit-based insurance scores, but Oregon voters took the matter into their own hands with a voter initiative last year. Some groups question whether it is legitimate to use credit scores to determine insurance rate premiums, and it may even be racist according to some.

Bill Sizemore of the Oregon Taxpayers United organization believes that this method of determining insurance premiums is a backdoor method of redlining, which is illegal in some states. Sizemore says insurance scoring “is a back door way of redlining minorities.”

Sizemore, who is usually known for backing anti-tax measures pushed for the Measure 42 in Oregon last year which would have denied insurance companies the ability to take credit scores into account when setting insurance premiums.

Ridding Yourself of Bad Debt without Bankruptcy

Ridding Yourself of Bad Debt without Bankruptcy

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Credit card debt creates anxiety and financial chaos. It caused many people trap into serious financial issue since the introduction of credit card. This plastic card create easy and convenient payment scheme for you to buy things without the need to worry about cash inside you wallet; frequently make you over spend your money and create debt.

The situation getting worse with the best feature of credit card, the minimum monthly payment; you no need to pay in full of credit card balance each month, just pay the minimum amount will do; the credit card balance snowballing month by month, when you start to realize that you have financial issue, most probably you already at a bad debt situation. When you are in the debt trap, more efforts and times are needed to get out from there.

Paying Off Your Mortgage: How To Run The Numbers

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If you have Microsoft Excel running on your computer at home or work, you can use Excel’s NPER function to calculate how quickly you can pay off a loan such as a mortgage.

The NPER function calculates the term, or number of regular payments, on a loan given its interest rate, payment amount, present loan balance, balloon payment (if any), and, optionally, the type-of-annuity switch.

The type-of-annuity switch is a little complicated, but here's how it works. If you set the type-of-annuity switch to 1, Excel assumes payments occur at the beginning of the period, following the annuity due convention. If you set the annuity switch to 0 or you omit the argument, Excel assumes payments occur at the end of the period following the ordinary annuity convention.

Fed President Says Sub-Prime Mortgage Damage Contained – Fisher Does Not Think Regulation Is Needed

Fed President Says Sub-Prime Mortgage Damage Contained – Fisher Does Not Think Regulation Is Needed

Richard Fisher

(Best Syndication) Federal Reserve Bank of Dallas President Richard Fisher said damage from the U.S. subprime mortgage market is mostly contained. Fisher said the “Perceptions of risk lie in the eye of the beholder,” and suggested that the temporary problems in the subprime mortgage industry should not “detract from the essential value of, need for and virtues of risk taking.”

Fisher compared today’s situation with similar historical situations, saying that in today’s dollars, a barrel of oil in the 1980’s would be approaching $80. “The assumption of permanently high—or permanently rising—prices in an asset class—in this case, oil—invariably leads to regrettable decisions,” Fisher said. The falling price of oil led to a “slowdown in the region’s most energy-sensitive areas, such as Houston.”

What To Look For In A Foreclosed Home

What To Look For In A Foreclosed Home

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The first thing you should look for – or look forward to - is weeks and even months of diligent research. The opportunities in foreclosed homes often fall into the old adage, “If something sounds too good to be true, it usually is.” What is true is that some foreclosed homes will sell at 30% to 40% below market. But according to the editor of one real estate investor’s publication, “Most foreclosed homes sell at 5% below market.”

Location

If the foreclosure opportunity you’re looking for is an investment opportunity, then you would be wise to review five years or more of real estate sales history in the area. Have the homes appreciated sufficiently to make your investment risk worthwhile? The property doesn’t have to be in an exclusive neighborhood, but it should be in an economically stable area. This is not an issue of who is moving in and who is moving out, but rather how much is being paid for the homes changing hands.

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