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Home Mortgage and Life Insurance Firm Offers a Variety of Mortgage Loan Solutions to Home Owners

admin — Mon, 31 Jan 2011 04:33:45 +0000

(PRWEB) April 19, 2005

Original Mortgage Source, LLC, an Ohio-based company that specializes in home mortgage and life insurance options, has included information and application forms on their website for the most popular types of mortgage loans they offer to homeowners.

Original Mortgage Source, LLC provides two distinct types of mortgage loan solutions. The first, a 3.875% Equity Builder mortgage loan, is an interest-only program that helps homeowners free up money to pay other bills without refinancing their mortgage. Unlike the Prime Rate mortgage, the Equity Builder mortgage loan is affected by multiple economic factors, making it much more stable and keeping the interest rate lower. The interest rate is also not compounded annually.

The second mortgage loan, Mortgage Life Protection, is actually an inexpensive life insurance policy that provides total coverage to pay off the full amount of the mortgage should the homeowner die. This coverage can be added to an existing mortgage without refinancing.

In addition to the Equity Builder and Mortgage Life Protection mortgage loans, Original Mortgage Source, LLC has several additional mortgage loan programs, including:

Â 100% Financing, for borrowers with good credit and employment histories but no down payment

Â 3% Down FNMA, designed to assist moderate income first time home buyers.

Â Home Equity Lines of Credit (HELOC), for borrowers who wish to keep their first mortgage in place and use their equity for debt consolidations, purchase other properties, or home improvements.

Â Mortgage Only Programs, enabling homeowners to qualify for a new mortgage based only on their mortgage payment

Â No Income Verification Loans for Self Employed or W2 employees

ÂOur policy is to provide pre-qualifications free of charge to all people serious about purchasing or refinancing their homes, investment properties, or commercial properties,Â said Timothy A. Primavera Sr., President and CEO of Original Mortgage Source, LLC. ÂOur ultimate goal is to help our customer get what they want.Â

Original Mortgage Source, LLC offers a free two- to four-minute ÂQuick Mini-Application FormÂ to apply for a home mortgage or life insurance online. To apply for a mortgage loan or to learn more about these and many other available mortgage loan programs, visit www.OriginalMortgage.net.

About Original Mortgage Source, LLC

Original Mortgage Source, LLC has been providing help to customers with home mortgage and life insurance needs. Their specialized staff of certified residential mortgage specialists and senior loan officers assist with mortgage loan programs, help with for-sale-by-owner homes, home warrantees, and offer consulting for homeowners and home purchasers alike, in both commercial and residential real estate.

Original Mortgage Source is a member of the Cleveland Better Business Bureau (BBB), the National Association of Mortgage Brokers (NAMB), the Ohio Association of Mortgage Brokers (OAMB) and the Ohio Farm Bureau Federation (OFBF). The Christian-owned and operated firm is state licensed, bonded, and insured to provide home mortgage loans and solutions for homeowners and home purchasers, regardless of credit history. They also offer many different types of life insurance coverage that can be browsed on there website.

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Home Mortgage and Life Insurance Firm Offers a Variety of Mortgage Loan Solutions to Home Owners

admin — Mon, 31 Jan 2011 03:34:57 +0000

(PRWEB) May 5, 2005

Original Mortgage Source, LLC provides two distinct types of mortgage loan solutions. The first, a 4.875% Equity Builder mortgage loan, is an interest-only program that helps homeowners free up money to pay other bills without refinancing their mortgage. Unlike the Prime Rate mortgage, the Equity Builder mortgage loan is affected by multiple economic factors, making it much more stable and keeping the interest rate lower. The interest rate is also not compounded annually.

In addition to the Equity Builder and Mortgage Life Protection mortgage loans, Original Mortgage Source, LLC has several additional mortgage loan programs, including:

Â 100% Financing, for borrowers with good credit and employment histories but no down payment

Â 3% Down FNMA, designed to assist moderate income first time home buyers.

Â Home Equity Lines of Credit (HELOC), for borrowers who wish to keep their first mortgage in place and use their equity for debt

Â Mortgage Only Programs, enabling homeowners to qualify for a new mortgage based only on their mortgage payment

Â No Income Verification Loans for Self Employed or W2 employees

About Original Mortgage Source, LLC

Original Mortgage Source is a member of the Cleveland Better Business Bureau (BBB), the National Association of Mortgage Brokers (NAMB), the Ohio Association of Mortgage Brokers (OAMB) and the Ohio Farm Bureau Federation (OFBF). The Christian-owned and operated firm is state licensed, bonded, and insured to provide home mortgage loan s and solutions for homeowners and home purchasers, regardless of credit history. They also offer many different types of life insurance coverage that can be browsed on there website.

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Student Loan Consolidation is Insurance Against Rising Interest Rates

admin — Tue, 11 Jan 2011 04:33:37 +0000

Quincy, MA (PRWEB) January 7, 2005

In a recent article by Peter Svenssen, the Associated Press is projecting a possible student loan rate increase later this year of 1.2% for the 2005 – 2006 school year (July 1, 2005 – June 30, 2006) based on current US Treasury yields. Today’s Stafford Loan repayment rate of 3.37% could increase to 4.57%, while PLUS Loan rates could increase from 4.17% to 5.37%. What does this mean for today’s graduates? Over the span of a 10 year Stafford Loan repayment term on $ 18,900 in loans, a college graduate would pay $ 2,760.01 in interest at 2.77%, while that graduate would pay $ 4,062.40 in interest at 4%, a difference of $ 1,302.39, or about the price of a laptop computer.

If graduates were to consolidate their federal student loans today, they’d be able to lock in today’s rates before they change. Christopher Penn, associate director of StudentLoanConsolidator.com, urges graduates not to wait another minute to consolidate their student loans. A graduate with $ 18,900 would have a monthly payment of roughly $ 196.51 before consolidating at the projected 4.57% rate. Mr. Penn said, “If you consolidate today, right now, right this minute, you would have a monthly payment of $ 129.39. Consolidating would save you $ 67.12 a month, or $ 805.44 a year. Could you use an extra $ 805 a year? I know I could.”

What about students who are still in school? Mr. Penn said that some student loan consolidation companies can “reserve” an application for current students. If students apply now and graduate before July 1, 2005, they can receive the current interest rates, but they must apply before July 1, and preferably sooner rather than later.

“With no credit checks, no fees, and no early repayment penalties, there’s absolutely no reason for graduates not to consolidate their loans. However, graduates need to act now,” urges Mr. Penn. “Very often, graduates wait until the last minute to file their paperwork and by then, they may not be able to insulate themselves from a drastic rate change. The earlier you apply, the better off you will be, as you’ll begin saving more each month immediately.”

Students wishing to file a consolidation application should do so at http://www.StudentLoanConsolidator.com immediately.

Contact Christopher Penn at StudentLoanConsolidator.com by email at CustomerService@StudentLoanConsolidator.com for more information; to apply for a student loan consolidation, graduates should visit http://www.StudentLoanConsolidator.com as soon as possible.

StudentLoanConsolidator.com is a service of the Edvisors Network, a multi-national education services company offering students options for managing the entire education life cycle, from getting into their college of choice to financing their education and beyond. The Edvisors Network is based in Quincy, Massachusetts, with offices in Quincy and London, England. Visit them on the web at http://www.EdvisorsNetwork.com for more information.

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Just the facts on life insurance

admin — Sun, 07 Feb 2010 09:58:27 +0000

When buying insurance, you can be overwhelmed by an information avalanche. To protect your future from poor choices today, organize your insurance search by reaching back to grade school and employing the use of the 5 W’s: Who? What? Where? When? Why? and How much?

Who?

The classic argument to avoid life insurance runs, “If I die, why do I need money?” You don’t — but your family, your business or your favorite charity might. So anyone with dependents, human or otherwise, might need life insurance.

Of course, if you don’t need to protect anyone else, insurance is not a wise way to spend money.

According to Steve Kramer, who has served on the members’ insurance and benefits committee of the California Society of Certified Public Accountants for 27 years, this group not needing insurance includes people who have raised and educated children now living independently, folks who have accumulated sufficient assets to support a surviving spouse and the single elderly (and not-so-elderly) population.

What?

People approach life insurance with predisposed notions, says Rory Roniger, CLU, ChFC, head of the financial services arm of the Eustis Insurance Group in Metairie, La.

“They might be oriented to term insurance, yet don’t have a good argument as to why,” he says.

“Any kind of insurance is a contract with requirements on both sides,” says Dave Evans, CFP. “Unfortunately, too many people think life insurance is a commodity, like going to the grocery store and picking up a piece of fruit to judge.”

“Term” insurance forms the base of every life insurance policy. Think of it as renting a safety net: The owner pays a fixed premium toward a concrete payoff over a specific time. If you die during this period, the insurance company pays the promised amount. When the policy reaches its deadline, the coverage vanishes.

Lawrence Wentz, who owns the Kindt, Kaye and Wentz agency near Philadelphia, says that contracts aren’t that cut and dry. Many companies sell term policies that guarantee a rate for only 10 years of the protection. A few providers guarantee just a year at the starter rate.

After the secured period ends, the company can charge one of several rates filed with the state insurance commissions.

Speaking of rates, start by assuming the initial quoted rate for your age and life circumstances is too low.

“I’ve placed people of all age ranges, and not many get this thoroughbred rate after the physical exam and application submission,” Wentz says.

The good news: Changing health status during your term limits doesn’t affect premiums or payoff. The rub comes when that contract ends. Many companies allow you to buy another policy, but at higher rates to balance your changed health status.

Some insurers offer convertible policies that allow a return client to take out another policy at the rate of a healthy person, but you pay a higher premium for the privilege.

Insurance companies also offer three variations of permanent life insurance — that is, insurance that covers you for your entire life.

Whole life offers term insurance’s set payoff for a set premium, except this policy doesn’t come with an ending date. You’ll pay the premium for the rest of your life, unless you decide to cash in and receive the cash value as a lump sum.

According to the Life and Health Insurance Foundation for Education, “the cash value of a policy is different from the policy’s face amount. The face amount is the money that will be paid at death or policy maturity. Cash value is the amount available if you surrender a policy before its maturity or your death.”

Private nurses for common folks

admin — Sat, 06 Feb 2010 20:20:51 +0000

If you or your parents need medical care, consider bringing the services of a hospital to your home.

(Money Magazine) — You may think of private nurses as a luxury for the ultra-rich, like a butler or personal chauffeur. But hiring in-house medical care has become an increasingly viable option for regular folks too.

You can use a nurse to ease the transition from hospital to home after surgery or a major illness, or even to administer chemotherapy if you want to stay out of a clinic or hospital. Visits from a private nurse can help your elderly parent remain in his or her own house safely.

Care at home can be a less expensive option than an extended stay in a nursing facility, says Kathleen Kelly, executive director of the Family Caregiver Alliance, a San Francisco nonprofit. Still, the cost can add up quickly, and you may have to cover most of it yourself. So it pays to know whether you need a nurse and how to pick one.

Know who is footing the bill

If you’re under 65, chances are you’re on your own; for the most part, group health insurance offers little if any coverage for private nursing care. If you are tending to an elderly relative, you will get help from Medicare, which generally pays for up to eight hours a day or 24 hours a week of care within a 60-day period.

Your relative’s long-term-care insurance may also provide some coverage, usually $150 to $200 a day (which buys two to four hours of nursing care or about 10 hours of an aide’s time). Review the policy before you bring someone onboard.

Make sure a nurse is necessary

You’ll pay three times as much for a nurse as for an aide (see table), so consider what care you need. If you’re recovering at home from major surgery, you will likely need the services of a registered nurse (R.N.), who can do everything that a nurse in a hospital might do, from monitoring vital signs such as pulse and blood pressure to dressing wounds and setting up an intravenous catheter for drug treatments.

Plus, an R.N. will be able to alert you to complications in your condition. “An experienced nurse has almost a sixth sense for trouble,” says Mary Jean Schumann, director of policy and practice for the American Nurses Association.

If your situation is more practical than medical – you need help eating or dressing because you’re woozy or weak, for example – a health aide, who may have little formal training, should suffice. The most cost-effective strategy may be to combine the two options; if, say, you’re recovering from surgery, have a nurse visit for an hour or two a day to change bandages and administer medications, but let an aide provide around-the-clock care.

Tally the cost

According to a 2007 MetLife survey, agencies charge $13 to $24 an hour for a home health aide, depending on where you live. A registered nurse will cost about three times that much, or $40 to $90 an hour. For agency recommendations, ask another nurse at your hospital or a discharge planner, and find out whether the agency monitors its workers’ performance and covers liability insurance and workers’ compensation.

You can lower the bill by about a third by hiring – and screening -candidates yourself, but if you hire an aide on your own and she throws out her back while helping Grandpa into the bath, you could end up paying for her medical bills. Even if you can take the risk, you’ll almost certainly want to use an agency if the patient is too sick or old to voice any complaints about a caregiver or the quality of care, says Schumann.