Saturday, May 22nd, 2010
As a homeowner, you need to take out a home equity loan for home repairs. You wish to borrow ,000 to complete all needed repairs.
Research online and find a loan agency that you will borrow from and give the interest rate. Be sure to reference the loan site.
Explain how much it will cost in interest to pay the loan off in 5 years if compounded monthly.
Then explain the difference in paying the loan off at the end of 5 years if simple interest is used.
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Sunday, July 19th, 2009
This is what I wrote to my Senator
Dear Senator
I’m screaming!!! Can you hear me??? Do not jump on board with Bush… it is imperative that you put the burden on the rich. Use the idea of a surtax on stock transactions and the taxing of capitol gains dividends. Tax them!!! Let those that dabble in Wall Street pay for Wall Street. Couple that with regulation and over site and dont ever take your eye off the ball again. Likewise, if failure to fulfill their fiduciary responsibilities does occur then CEOs need to go to prison and have their accounts confiscated. This is nuts that you would dump on us again… stop this madness. People need health care in this country and this is Norquists plan to tie us up in knots with no moneys for the poor and middle class while they walk away with the check book. I retired from United Airlines and WE watched them walk away with my money while they claimed bankruptcy on my retirement. For 12 years I was an employee owner and they were the highest in UAL’s History and yet they failed to fund the retirement. The government over site or the PBGC took its eye off the ball and didnt require the Corporation to fully fund the retirement don’t do it again. Stop this crap!
There is no rush, Dodd and Pelosi don’t have to do this… Sorry, but I’d rather go into a recession and work our way out rather than give the rich one more dime. Take the same money and put people to work and they will pay their mortgages… and our infrastructure will be rebuilt OR take the bad loans and renegotiate them in two, a 1st and a 2nd mortgage, leaving the owner with a payment and interest rate that fits their income and the rest to be put on a FEMA type loan at 3 percent simple interest with no payments for 30 years or until the property is sold Lets get creative to keep people in place and the economy moving.
I work for a company that writes rehab loans using city money @ 30 years no payments, 3 percent simple interest. Our max is ,000 but that can be upped if need be. As long as the home owner is able and there is some equity there, however small Lets keep the ball rolling till they die or sell. Then all their un-assumable loans are paid off. Everybody wins while we tighten up regulation on Wall Street.
Tags: capitol gains, city money, dividends tax, dodd, fema, fiduciary responsibilities, knots, madness, middle class, moneys, pbgc, pelosi, recession, rehab loans, simple interest, stock transactions, surtax, ual, united airlines, wall street
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Sunday, July 5th, 2009
Off recently I have been hunted by an insurance agent who told me that If I BUY THIS PLAN
Pacific Indexed Accumulator III
http://www.pacificlife.com/NR/rdonlyres/…
Then I can get a MIN assured 2% compounded return + depending on the performance of S & P ( which is not that impressive now a days but 5 year S & P is definitely a lot better )
I can get upto 7-12 % Compounded Appreciation.
She told me that provides the safety for the principle as well as gives chance for relatively risk free growth and when I lift the money it will be tax free since it is within some death benefit figure .
HOW TRUE IS ALL THIS ? WHAT if this company goes broke like Lahmen Brothers ? Does anyone have exp with this kind of plan in action ?
The idea is behind the life insurance you let some money accumulate tax free along a tax free corridor .
She also suggested that I can take a home loan or refinance my home and from the equity I derive from that , put the money here to be compounded annually as against the simple interest I pay for the loan that makes up the equity …HAS ANYONE EVER DONE THIS KIND OF THING ?
WHAT ARE THE CATCHES TO THIS KIND OF STUFF. Right now I KNOW FOR SURE , SHE WANTS TO CUT A FIXED AMT OF MONEY FROM MY PAY CHECK AND LET IT GO MONTHLY TO THIS SCHEME ?
FRIENDS …PLEASE ADVISE …
Thx
S
Tags: amp, death benefit, home loan, insurance, insurance agent, life insurance, money, nr, pacificlife com, principle, simple interest
Posted in Home Equity Loan Refinancing | 1 Comment »