The Finance Blog

Archive for April, 2010

im looking for collages across america. ive decided i either want to major in accountant, or major in finance & minor in business. please help me find the top schools that i should go see in order to get the best education.

UNC

Hello everyone. I have life insurance and accidental death insurance, but I am looking for a company that offers insurance for money if you get injured in an accident and become disabled. I show horses and ride often. I am looking for something that would protect my family in case of a disabeling injury. Please only serious answers. Please don’t suggest yahoo or google….I am looking for actual companies. God bless!

insurance tips :
http://insurance2.cn

I have about 25K in credit card debt. I am planning to buy a 540K house. Currently I have great credit, is it possible to add my credit card debt into the home loan in order to make it a single monthly payment. What is the loan program called? I am shooting for 5 yr. ARM. Me and my wife plan to live there for about 3-4 yrs.
To add I mean to pay off my credit cards with the home loan.

I doubt there is a loan program around right now that will lend over 100% of the homes value on a home purchase. You can sometimes get them on refi’s but they are usually loans that are attached to some type of construction or major improvements.

Value is determined two ways:
In a purchase, the Purchase price or the appraised value- whichever is LESS.

In a refinance- the appraised value.

If this is new construction, the home is probably worth alot more now than when you purchased it. You should have a lot of equity.

Right now, prices are not going up as much as they were, so if this is existing construction, you may have to wait a few months until you have enough equity to pay off the debt.

If you have cash in the bank, try to pay off that debt and get a second mortgage instead of putting that additional money as a down payment.

You can also wait until you close your loan and refinance with a second mortgage paying off your debt- provided there is enough equity in the house.

Sorry to burst your bubble, but let me show you from a lenders perspective.

You have $25,000 in Credit Cards and the average interest rate is probably 15% or greater. You are buying a house that the value is $540K, you want them to lend you $565K for a house they know is only worth $540- at an interest rate of about 6%- less than half of what you are paying on the credit cards now.

If you were to default on the loan, you get to take all the furniture, clothes, handbags, etc that you paid for using the credit cards, however they can only reposess the home that is worth $540K. If they sell it at auction for the full price of $540 (which is doubtful) they would be at a loss after the Realtor takes the standartd 6% commission (approx $32K). That leaves the bank with getting $508K for the house at best, before fees.

This is obviously not a favorable investment for them.

I am looking into a debt management plan. We tried a home equity loan but our credit has gone down to far for it. The one that I just applied for said they save on average $125 a month….that won’t cut it. Anyone have been success than that? I don’t need lectures…unfortunate health circumstances put us here. We just want a better life. I would love to hear success stories!

Depending on your total debt amount, you can save upto $300 or more per month.

Here is the source of debt consolidation company named http://ezconsolidation.com for your reference.

Currently, a person would have to drive 45 minutes to take their kids to a place that has go-karts, games that distribute tickets, mini-golf and so on. I would like to look into openeing a business such as that lacally. I have no clue how to go about getting financed or how to plan the business…or even where to start. I have heard that the government has loans specially for women. Can anyone point me in the right direction to plan for a business?

Go to your local Chamber, they should be able to help you with everything you do.

First and foremost. Write a Business plan.

I want to start an insurance company, but I need to know what kind of insurance I need to purchase for my own company. I have done research and can’t find this. (Please do not tell me how to start one, or anything else besides what insurance I need, if any.)

Do you want to start an insurance company or an insurance agency? There is a difference. I’m guessing you want to start an agency because if you had the millions of dollars needed to start an insurance company you’d have the knowledge already or at least the money to hire someone who knew.

For an agency you’ll need E & O insurance. Also, depending on your situation you’ll need a business general liability and property coverage. You’ll need business auto or at least a business classification on your auto insurance if you have vehicles. If you hire someone you’ll need workman’s comp and possibly health insurance, disability, etc. for the employees.

I am going to let my house in California foreclose. I have about $28,000.00 in credit card debt. Should I file for bankruptcy? Should I just not pay my credit cards? Or should I continue to pay my credit cards? Is there a certain dollar amount of income you are allowed to make to be able to file for bankruptcy?

Before you look into BK, you should check out www.debtbills.com. They are an alternative to BK. You will have exeperienced attorneys that will be contacting your creditors on your behalf.

My friend informed me that I should check www.DMO.gov.nig advertisement has been placed for empolyment by Nigeria’s debt management Office I searched for the advert at that address and the application must be made on-line but I cant find the location can someone please help me out?

I can only help you out with this information , there is a lot of Internet fraud coming out of Nigeria , so don’t send money to them for anything .

Government grants are easier to get for a small business when all information needed by the government, like tax returns and financial statements, is readily available. Be wary about giving out personal information when applying for government grants, and choose a government lender carefully with tips from a certified public accountant in this free video on new business financing.

Expert: Amber Hill
Bio: Amber Hill is a certified public accountant and a partner in several small businesses that she started from the ground up.
Filmmaker: Carlye Jones

Duration : 0:1:37

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Duration : 0:5:57

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