Monday, 30 December 2013

Mortgage Rules Of Thumb [Infographic]

Mortgage is one of the biggest financial concerns of Americans. This infographic titled ’Mortgage Rules Of Thumb’ has been created with the aim of imparting information about various rules to be followed about various aspects of mortgage.

The infographic adumbrates thumb rules about:
  • Mortgage Affordability
  • When Homeowners Can Stretch Their Mortgage
  • Most Affordable Mortgage Combinations

Friday, 27 December 2013

Renters Insurance and Why do You Require it?

Most people who rent a house or an apartment are of the view that their landlord’s insurance will keep them in the safe waters when some unwanted situation arises. However, in reality, landlord’s insurance only offers a cover for the building, making your belongings vulnerable to damage. It is therefore extremely critical to get your belongings insured with renters insurance.

Your location and the weather conditions would also play an important part when taking renters insurance. If you stay in am area where you are skeptical about the safety of your belongings, it is advisable to go for a full home insurance. Apart from this, if you stay in an insecure neighborhood where thefts are common, taking renters insurance will also provide you cover from those.

As a homeowner, you must decide on which items to insure. You can go for a complete cover or can insure just the valuables in your home. When taking renters insurance, you have to keep in mind that it does not cover all the damages. If you stay in an area prone to floods, it is advisable to take additional cover as your renters insurance might not include that. Check with your insurance provider and read what is included before buying renters insurance.

Why Investing in Disability Insurance is a Must?

Life is unpredictable and nobody can predict any disability. When it comes to disability insurance, most people show skepticism. Disability insurance is extremely important as a single accident can leave you disabled for life. Permanent disability not only leaves you scarred physically, but it may also result in a long time loss of pay and hospital expenses. Are you prepared for anything horrendous like this? How would you manage to look after you in case there is a loss of income owing to a disability?

Disability insurance offers a hedging against the financial turmoil that arises with disability. Apart from paying your medical bills, a disability cover will also take care of the monthly monetary obligations that you may have.

Disability insurance is extremely essential for people who are single. Unlike life insurance, if you are single, you would be more concerned about your well being rather than securing the future of your children. Disability insurance protects you from any the financial hardships that may occur because of some disability. Select the best disability insurance policy and prepare yourself from any unpleasant and unpredictable life event.

Getting Earthquake Insurance? – Important Things to Keep in Mind

Natural calamities can not be predicted and earthquakes can cause a lot of damage to the property and money. The US has very powerful Seismic zones that suggest that earthquakes can any day completely destroy your home or property. Earthquake insurance should be your priority as your average homeowner’s insurance does not cover all the risk and damage accrued by an earthquake. If you are considering getting earthquake insurance, there are some things that you need to keep in mind.

If you are not insured with earthquake insurance, you must ask yourself the following questions –
  • Can you afford to build your house once it is destroyed in a powerful earthquake?
  • How much can you pay for the damages caused by the earthquake?
  • Is the cost of getting the earthquake insurance higher than replacing the belongings in your home or rebuilding your home?
  • If you will have to stay somewhere else, can you afford the rent for lodging?
Earthquake insurance frees you from the obligation of paying whopping dollars for constructing your home. It is extremely critical to secure your home and finances with a earthquake insurance so that you are saved from any type of financial strain after you have been hit by an earthquake.

Top 3 Myths about Foreclosures

Foreclosure is never an easy situation for a homeowner and the presence of innumerable myths makes it even more confusing for the homeowners. Here are the top three myths associated with foreclosures –

Lenders push homeowners for foreclosure – Foreclosure is time consuming and also involves huge amounts of money. It is a way through which lenders try to recover the investment that they made. However, it is the last option lenders want to exercise.

Only professional investors can buy a foreclosed property – Today owing to the availability of so many tools, it has become possible for potential buyers to buy a foreclosed property.

If you are financially callous, your property will be foreclosed – Financial callousness is one reason of foreclosure and not the only reason. An unpredictable life event, illness, loss of job or the demise of a contributing family member can result in foreclosure.

Foreclosure is never a happy situation as losing the property that you had bought after so many years of hardship and struggle can never be a positive life event. However, there are various ways through which you can avert foreclosure. Contact your financial advisors and do not let the threat of foreclosure wipe you of your happiness.

Misconceptions about Loan Modification

Matters related to money are such that you can never be sure of what the future might hold for you. This is one of the reasons why many individuals opt for loan modification. However, there are various myths associated with loan modification. Below are some of the most prevalent misconceptions about loan modification –

Income of the debtor is the only consideration for loan modification – A lot of people are of the view that your income will be considered by the bank. However, it is the total income of the household, including the income of the spouse, as well as, other adults that would be considered by the bank.

Loan modification reduces the principal amount of the loan – This is highly unlikely as lenders will try to only adjust your loan in such a manner that you do not become delinquent. You might get reduced interest rates and deferred payments on some part of the loan but there is no reduction in the principal amount of the loan.

You can qualify for loan modification only if you are behind the payments – This is not true as even if you are making the monthly payments, you can qualify for loan modification as well.

There are various myths associated with matters related to finance. Contact your financial advisors today to get a clearer picture.

The Various Benefits of Loan Modification

Loan modification is a process through which you can get the mortgage contract altered. Under loan modification, you can modify the terms of the mortgage contract to suit you. Here are some of the top benefits of loan modification –

Convert adjustable rate to fixed rate – With loan modification, you can get your adjustable rate mortgage converted fixed rate mortgage. When you feel that the current interest rate is higher than the fixed rate, you can get it converted by getting your loan modified.

Reduced interest rate – Loan modification is extremely beneficial for individuals who find it difficult to make the payments owing to higher rate of interest. You can get a reduced interest rate on your loan so that you can pay them affordably.

Longer payment duration – By working out with your creditor, you can also get a longer payment duration that allows you to cut your monthly payments drastically.

Loan modification is an excellent tool for anyone who is finding it difficult to manage the loan payments and the monthly expenses owing to the existing rate of interest. Get your loan modified today and keep the threat of foreclosure at bay.

Why You Require Insurance?

Life is unpredictable and unwillingly, we find ourselves in some unfortunate circumstances that tend to put a strain on our personal, professional and financial fronts. Illnesses, accidents, thefts, natural calamities and death never come knocking at your doors. It therefore becomes essential to hedge ourselves from any possible losses.

Insurance acts as a shield to dodge the unforeseen risks of the future. Insurance is a contract under which the insured is protected from the risk of losses by providing them the finances to deal with the after effects of any unfortunate event. Insurance companies offer insurance policy for which the insured has to pay a regular amount, known as the insurance premium. The insurance company then pays the customer back the amount in case of an emergency or loss.

Having an insurance policy allows you to lead a stress free life. Insurance Whether it is life insurance, flood insurance, personal injury insurance, fire insurance or any other type of insurance, by paying a small premium, you can protect yourself from various unforeseen events. Insurance is an affordable solution to hedge you from unforeseen future events.

Thursday, 19 December 2013

Pick Your Insurance [Infographic]

The infographic titled ‘Pick Your Insurance’ has been created by Moneytips with the big idea of highlighting the existence of different insurance products and how their suitability varies differently based on the age, life stage and financial objectives of different people. Due to lack of proper knowledge a vast majority of Americans end up buying either policy unsuitable to their needs or are under insured.

The infographic adumbrates:
  • Statistics about insurance in the US
  • Most Suitable insurance products based on financial objectives
  • Choosing the best insurance depending on the life stage of buyer
  • The amount of coverage needed at different ages


Monday, 16 December 2013

15 pleasent ways to save money for your kid's college fund

Here the above displayed infographic highlights the few things you can do to start saving for your kid's college fund.


Payday Loan Affordability Fast Facts

A payday loan (also called a payday advance) is a small, short-term unsecured loan, "regardless of whether repayment of loans is linked to a borrower's payday".

Have a look at this infographic showing Payday Loan affordability fast facts:


Need money? Take out a personal loan

A personal loan can be used for just about anything. It is a loan made for any purpose not specifically defined or secured by a specific asset. Personal loans are usually made for general expense purposes.

Did you know that 49% of personal loan applicants are seeking a loan for consolidation of debt.

Take a look at the infographic displayed below giving the details about Personal Loans more deeply.


10 things you did not know about Life Insurance

As you all know that Life insurance (or commonly life assurance, especially in the Commonwealth) is a contract between an insured (insurance policy holder) and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the "benefits") in exchange for a premium, upon the death of the insured person. However, there are many things that people did not know about Life Insurance.

This infographic highlights 10 things you did not know about Life Insurance:


Friday, 13 December 2013

Management of money throughout Life Stages

As you all know that money plays a very important role in everyone's life so we should learn about money management to face the emergencies & to make our life financially healthy.

A solid plan can actually play a big role in building financial security for you and your loved ones. You may need to give your finances extra consideration upon reaching the following milestones:

First Job. When you obtain your first “real” job it’s likely that you will be presented with employer-sponsored retirement savings plans. It is never too soon to begin saving for retirement, and taking advantage of your employer’s retirement savings plan as soon as possible will give your account the maximum amount of time and potential to grow. The combined effects of time and compound interest are powerful, and the sooner you start the better. Try to contribute enough to your fund to take full advantage of any employer-provided matching contributions.

Also, learn about the insurance provided by your employer’s benefits plan, including health, life, and disability insurance. If your employer’s plan offers insufficient coverage, or if a plan is not offered at all, consider obtaining coverage independently. If you change jobs, pay attention to the benefits. Benefits will often vary greatly from employer to employer, and changes in insurance coverage and retirement options must be factored into your personal plan. For example, funds in your retirement plans might need to be rolled over as you continue to save.

Marriage. Weddings are special occasions that become cherished memories long after the bouquet has been tossed and the rice has been thrown. They are also events that bring about financial changes. After getting married, you may consider opening a shared bank account, owning property jointly, as well as sharing auto insurance and possibly medical insurance. You may also want to begin saving toward the purchase of your first home and start preparing to raise a family.
Obtaining and/or updating life insurance plans to reflect a name change, if applicable, as well as including your spouse as your beneficiary, will help to ensure that financial goals will continue to be met. Review retirement plans and goals to establish a savings plan that aims to fulfill your retirement needs. Getting married will also most likely affect your tax situation. Think about the most effective tax strategies that will help with annual filings, as well as your long-term goals.

New Home or Refinancing. Buying a first home is a happy event. Now, the money you may have spent on rent will build equity in a place that you own. Whether you are a first-time homeowner or are looking to refinance, research the various mortgage types available to find the one that best suits your needs. In addition, you will have to find a homeowners insurance policy that will suit your coverage needs. This is also a good time to review life insurance policies to assure that mortgage obligations will remain covered in the event of your death.

Children. With the added joy and responsibility of a child comes the need for extra financial security. Update your medical plans to include the child. In addition, review your life insurance policy to ensure you have adequate coverage amounts, and include the child on the beneficiary list.
For an infant, college is 18 years away, yet the sooner the family starts saving, the better. A college fund that has many years to earn interest and contributions is ideal. Children may also change your estate plan. Writing or reviewing your will becomes especially important to make sure the child will be provided for and suitable guardians will be named.

Starting Your Own Business. If you leave your old job to start your own business, you will have to assume responsibility for previously employer-sponsored benefits. It is important to maintain retirement, medical, and life insurance plans, as you continue building financial security.

Retirement. Now is the time to enjoy the fruits of your labor. You may be considering relocating to a warmer climate and are anticipating all of the adventures you will have there. However, your funds will still require attention as you continue to manage your money. Remember to maintain adequate health care coverage, and know your long-term care options. Proper planning can help protect your hard-earned assets from being spent on potential medical expenses.
Perhaps one of the most secure feelings in life is knowing that you are financially secure and are prepared for whatever may happen. Through annual checkups you can assess financial goals, provide for your loved ones, and build for the future. As you approach each new life stage, you will find that additional consideration and planning are well worth the effort.


Wednesday, 27 November 2013

Make Money By Mutual Funds [Infographic]

Moneytips has launched a new Infographic titled ‘Make Money By Mutual Funds’ has been created with the big idea of highlighting the best ways to make money by investing into mutual funds. Mutual fund is an investment of choice for many but very few are aware of the factors and thumb rules that guide seasoned investors. This infographic is an attempt to impart knowledge about the basic know-how of investing in mutual funds.

The infographic outlines:

·         Factors for success in mutual fund investment
·         How to choose funds to invest in
·         Optimal allocation of funds for maximum returns
·         Tips for making money in mutual fund investments


Personal Finance Plan For Investing and Retiring [Infographic]

Moneytips has launched an Infographic displayed above with the big idea of  catering to one of the biggest financial goals of investment - retirement. This infographic shows the optimal investments and savings and ground rules to maintain a stable cash inflow and ensure a good lifestyle even after retiring.

The information includes:

·  Optimal long term savings for retirement
·  Short Term savings and savings for kids’ education after you retire
·  Rules of thumb for assets and proper asset allocation to get maximum utility out of investments
·  Average time taken for investments to multiply
·  Total savings and money required at retirement at current expenses


Tuesday, 26 November 2013

Is it Worth to Get Earthquake Insurance?

A home is built with lifelong savings and innumerable dreams. There is more to a home than being just a structure of bricks and mortar. A home is where a family dwells. It is a place that everyone, no matter who, requires to call it the day. If building your home is one of the best feelings in this world, getting it completely destroyed is a feeling that can not be explained in words.

The worst part about natural calamities is that they come uninvited and they hit you the worst when you are the most vulnerable. Earthquakes are natural disasters that every year cause a loss of billions of dollars. Protecting your property from natural disasters should be the first priority of every individual and here comes the significance of getting earthquake insurance.

Earthquake insurance decreases the liability of a homeowner after an earthquake. Constructing a home is not an easy task and it involves the commitment of huge funds. Paying a regular premium for your earthquake insurance can save you from the additional financial burden that you might have to bear. Protect your home with earthquake insurance.

How Bankruptcy Attorneys can Help You?

Bankruptcy attorneys are primarily concerned with providing financial guidance and counseling to individuals who are going through a financial crisis. Bank attorneys guide their clients in matters related to bankruptcy from understanding the process, filing the claim and finally bringing them out of the financial crisis they might have stuck in.

Bankruptcy attorneys, owing to their education and years of professional practice know the various aspects related to bankruptcy. Since they are the experts, they thoroughly assess the financial situation of their clients and guide their clients in the matters related to bankruptcy. By recommending certain actions and alternatives, bankruptcy attorneys help their clients from emerging out of the current financial state they might be in.

Many people claim that hiring bankruptcy attorneys can put additional financial strain over them. However, having a legal representation to your case adds to its strength and also gives you the right equipment to fight with the lenders. Apart from this, bankruptcy attorneys act as a link between you and the creditors who can ask them for extending the loan or consider your case to help you recover from the financial crisis. If you are feeling that filing for bankruptcy is the last option, consult a professional bankruptcy lawyer today.

Do not Let Foreclosure Strip You off Your Home

A lot of people in the US are being affected by foreclosure and this virtually ends their dream of owning a home. In those unfortunate circumstances, when a homeowner fails to pay the monthly mortgage, the property is foreclosed. This could be due to a loss of job, or income source, or an increase in the interest rates, which can make it difficult for the homeowners to make the monthly mortgage payments.

Foreclosure is not a happy situation as it not only strips a homeowner off his house, but it also makes it difficult for the homeowner to apply for loan and buy a home in near future. Moreover, the emotional stress of letting go of your house is something that no individual would even think about dreaming. If you are speculating that you might not be able to make the mortgage payments on time and fear that your house could be forfeited, here are a few options that can help you avoid foreclosure –

  • Forbearance
  • Repayment
  • Loan modification and re-finance
  • Short sale
  • Bankruptcy

Foreclosure is not the end. You should communicate with the lender and financial advisors to come out with a plan that can save you from it. Contact your financial advisors and keep alive your dreams of owning your own home.

Is Flood Insurance a Necessity or Burden?

When it rains, it pours. And when it pours, it may result in flooding. Although most people, especially those not living near the sea level are of the view that flood insurance is not important. However, floods have always been number one cause of devastation in the country.

Even though you do not live in a region where floods have caused menace, it is recommended to get flood insurance. The reason behind this is that natural disasters do not come with an invitation. Even though you are covered with a homeowners’ insurance, investing in a flood insurance is a recommended suggestion as homeowner’ insurance do not offer coverage from floods.

Your flood insurance provider will take care of all the expenses required for repairs of the property that has been damaged during floods. As witnessing your house in wrecks can never be a happy situation, having insured will not add to your woes as your insurance will take care of all the financial aspects. Since nobody can predict when and where floods may occur, it is better to be safe than worry and empty your savings for the repairs. Find good flood insurance and protect your finances.

Protect Your Property with Fire Insurance

It takes seconds for a fire to burn anything that comes in contact with it. Whether it is cooking, faulty wiring or fireplace, we all run a risk of fire breakout in our homes, offices or commercial spaces. We can not predict when exactly an emergency may strike. Fires can break out even with lighting of a candle or turning on the gas and the effects can be devastating. Being insured with a fire insurance policy protects you from a possible financial strain that may arise after a devastating fire.

Even though you have smoke alarms in your home or office, fire spreads rapidly and this could destroy your precious belongings, and even your property, before the fire trucks arrive. Any damage caused by a fire can not be replicated. However, if your belongings and property are protected with fire insurance, you will not have to spend exuberant dollars on repairs and purchases. Moreover, if your home is damaged completely, a comprehensive fire policy will also take care of the hotel and restaurant bills as well.

A small premium can save you from a loss of millions and hundreds of thousands of dollars. Protect your belongings today by opting for fire insurance.

Fulfill Your Dream of Higher Education with Student Loans

College education adds up to your career prospects by giving you a technical and professional edge over others. Studying in college is the dream of a lot of students and if you want to earn a college degree, getting a student loan is the best way to keep your dream of higher studies alive.

There are various public, as well as, private loan programs that are specifically designed for students to pursue their dream of higher studies. The best part about student loans is that they not only provide for the tuition fees, but also take care of everything that you may need in the course of your tenure at the college. Student loans take care of other expenses including books, meals, lodging, and supplies as well.

Student loans take care of nearly all kinds of educational programs. This may include getting into medical school or law school and appropriate funding for junior college, undergraduate, and graduate programs. Student loans make it easier for people who do not have the funds for higher right now but through the knowledge gained from higher studies can ensure payment of the student loan. So do not let the dream of studying in college remain a dream. Opt for a student loan and reach amazing heights in your career.

Finding the Best Car Insurance for You

It is mandatory to buy car insurance if you own a vehicle. Your premium would be calculated by the insurance providers after scrutinizing an array of factors including your occupation, car usage, make and model type, as well as, your age and sex. As a car owner, everyone wants to get the best insurance deal on his/her vehicle. Here are some important criteria to keep in mind for getting the best car insurance –

  • The value of your car is the first criteria to choose the insurance cover. If you own an expensive vehicle, it is necessary that you go for a comprehensive coverage.
  • In case your vehicle is a high performance or a vintage car, it is recommended to ask specialists about what could be the risk factors involved and what things you should consider such as the general maintenance and replacement parts.
  • After closely looking at the various options, decide what insurance provisions that you actually require. Apart from the basic coverage, you can opt for collision coverage, road side assistance, medical coverage or comprehensive coverage.
  • Shortlist 3-4 companies on the basis of your own research and recommendations and select the best insurance policy that suits your requirements best.

Monday, 25 November 2013

Why should You Consider Getting Your Loan Modified?

Buying a home is a dream of every individual. We work hard to save money so that we can buy our dream house. However, as life is unpredictable, what would have been the condition while buying the house, might mot remain the same. The house that you had bought after years of hard work, savings and sacrifices, is now reeling under the threat of foreclosure owing to the inability of you to make the monthly installments and manage your expenses. Loan modification is considered as an integral part of debt payment strategy. Loan modification is an effective tool that allows you to protect your property during such a situation.

A lot of time it happens that the homeowners who bought a home find themselves in a condition when making the monthly payment on the mortgage becomes extremely tough. If you are facing a similar situation, you can get your loan modified. By getting a longer term, you can decrease the monthly installment. Although more number of installments mean payment of more interest, but it is a better arrangement as you are saved from the obligation of paying the current installment. This will not only lower your risk of default and foreclosure, but will also allow you to lead a normal life without having to worry about the finances. Get your loan modified and get back on the track of your life.

Friday, 1 November 2013

Home Loan – Your Route to Your Dream Home

Buying a home is one of the biggest dreams of an individual. Everyone wants to have his/her own home and people work extremely hard and almost the better half of their lives to acquire their home. Home loan is the option for people who want to buy a house for them but do not have the adequate funds. Since a house does not come cheap, the banks and financial institutions provide home loan facility to people at very affordable interest rates.

The amount of home loan that you can get depends upon various factors. These include your income, age, years of working, any previous financial obligations, credit rating, family conditions and others. Apart from this, the loan amount also depends upon the current interest rate, as well as the tenure for which you are getting the loan.

Different banks and financial institutions have different rules and regulations related to the home loan. It is therefore necessary to compare various home loans from different banks and financial institutions and learn the terms and conditions to get the best home loan for you. With easy monthly installments, which continue for years, depending upon your current financial position, you can get an affordable home loan.

Is Investing in Natural Disaster Insurance a Good Option?

If you are a homeowner, keeping your home secure from natural disasters should be your first priority. Most people are of the view that they do not need natural disaster insurance. However, disasters do not come by knocking at your door. Investing in earthquake and flood insurance is an option that you must consider, especially when you stay in a place where floods or earthquakes are not very uncommon.

Floods and earthquakes cause a lot of damage to your property and if your house or office is damaged in a flood, you will not want the additional burden of bearing the maintenance cost. A home is a dream of its inhabitants and watching it getting destroyed because of a natural calamity can never be a happy situation. This is why it is important to get earthquake or flood insurance to save you from the financial burden of building your home again.

Paying a small premium for the insurance is much better than paying for the damages and repairs. Since natural disasters are unpredictable, you can not leave any chance that leads to the destruction of your abode. Buy an earthquake or flood insurance and do not let natural disasters rob you of your sleep.

Budgeting and how it can be Beneficial for Startups

Budgeting is an important feature of every financial plan. Whether it is a household, a multi national, or a small enterprise, budgeting helps people in managing the day to day expenditure and saving funds for the future. In other words, budgeting is making predictions about the future and managing the finances in such a manner so that you do not have to face any discrepancy in the near future. Budgeting and forecasting is important as they help in establishing a set of rules for managing the limited finances and how they should be used.

Since a startup is more susceptible to the changes in the market, it becomes critical for a startup to have a proper budget. By budgeting, a startup can create a business model based on the available finances, assumptions about the future and establishing goals on the basis of such assumptions.

Budgeting is an important management tool as it allows the business to have a clear idea of how much finances that it requires, may require, why it requires and what are the sources from which it can acquire the finances. Budgeting helps in identifying the various risks and creating the required funds to avert those risks. Budgeting is critical to a business’s success and should not be taken lightly as your business’s foundation depends over it.

College Funds to Aid Your Higher Education

Going to college is the aim of a lot of people and lack of finances can make it difficult for a lot of people to give upon this dream of theirs. Everyone knows the importance of college education and what it can do for your career. Even though you have saved money for college education, having a plan and assistance can help you realize that dream.

Many parents start saving for the college education of their children. A 529 plan is a tax-free investment opportunity that facilitates saving of funds by a family for the college education of their child or children. The earnings and withdrawals made from a 529 plan are excused by the state from any taxes, which makes them one of the most beneficial ways of saving money for the college education of your child.

The amount derived from a 529 plan can be utilized for other college expenses and not just the tuition fee. These funds are used for paying for the tuition, dormitory fees, supplies, books, and computer and related equipment as well. Apart from this the 529 plan also covers some specific foreign study programs are also covered under this, allowing your child to study in a foreign university. It is the dream of every parent to provide the best educational opportunities to their children. It is therefore recommended to take the help of state owned 529 plans to ensure higher education of your children.

Fire Insurance – A must for Everyone

Fire can be devastating and can destroy anything that comes in its way. The home that you had built after so many years of hard work and savings, belongings that you have accumulated over the years and anything that you possess can go up in literally a whip of the smoke. It therefore becomes extremely essential to get yourself and your belongings protected with fire insurance.

Fire insurance saves people from the expenses that they might have to make if there is a fire and their belongings get damaged in it. If your property or belongings are covered with fire insurance, then you will not have to pay for any losses or damages. The fire insurance policy will take care of all the damages and you will not have to pay anything from your savings.

Fire insurance cost varies from policy providers to providers. It is therefore recommended that the necessary precautions are followed so as to decrease the impact of loss or damage in claims. Not only this, this will also help you reduce the cost of the policy as well. It is extremely important to compare different fire insurance policies to choose the best fire insurance policy for you.

Why You Need Accident Insurance?

Nobody of us wants to get hurt in a road accident. It is never a happy situation when we see a car rammed into a mini truck on the freeway or some biker lying in a pool of blood. Accidents are something no one wants to talk about and this is our fear which makes us completely discard any thoughts about accidents from our mind.

Most people like to think that they can not find themselves in the middle of an accident. However, accidents do happen and even if you drive carefully or have the sturdiest car, you can still get badly injured. Every year, millions of people fall prey to road accidents. Hundreds of accident victims are unfortunate as they succumb to their injuries.

Even if a person who is involved in an accident and sustained minor injuries may not get back quickly to his/her work. This would mean a loss of pay. Apart from this, there are hundreds of dollars that would be spent on hospital fees and treatment costs. Various employers provide workers’ insurance but that does not provide the complete cover of the expenses incurred because of an accident. Personal accident insurance covers all the expenses of the accident, making you recover quickly and steadily without having to worry about the finances. Consult with an accident insurance provider today and protect you and your loved ones.

Understand the Basics of Loan Modification

Owning a home has become easy for people as they can flash their bulging paychecks to get the desired loans. However, life can not be predicted and this leads to people who had opted for home loans finding them in a situation where they become unable to may the monthly payments of the mortgage loan.

A loss of job, divorce, disability, death or any other unplanned situation can put you into a position where you might find yourself unable to pay for the mortgage on your home. Non payment of the mortgage can lead to foreclosure of the property and this is the worst situation a homeowner can find himself/herself in. Loan modification is the procedure in which the mortgage loan provider can agrees to modify the terms of the mortgage loan, which can make it easy for the homeowner to make the monthly payments.

Loan modification has helped hundreds of thousands of homeowners who have witnessed the hard times beginning with the economic crisis in 2007. After a loan modification agreement, the homeowner and the lender agree on the new modified terms for the repayment of the loan. This might involve negotiating on the interest or increasing the time period involved.

Loan modification allows homeowners to protect their homes when the threat of foreclosure looms ahead. If you find yourself in a position where you can not pay for the mortgage on your home, consult a mortgage professional to get your loan modified.

Monday, 9 September 2013

Buying a Property after Foreclosure

Foreclosure is never a happy situation as you not only lose your precious home, but it also affects your credit rating badly. However, if you have gone through a foreclosure, it does not mean the end of the road for you. Although it may take a while to arrange funds and build your credit score before again buying a house, if you have planned your finances and investments properly, you can purchase a home for you again even after a foreclosure. Here are some ways through which you can be financially stable and convince the lenders that you are now in a much better condition than what happened 5-6 years back –

  • Getting back on the right track after foreclosure is very important as creditors apart from what happened in the past, are also interested in how you can repay the mortgage this time around. Securing a good job is a pre requisite as this will give an assurance to the lenders that you are not going to default again. A decent paying job will ensure that your lifestyle needs are being met and you do not have to rely on any other source for them.
  • Start saving money for the future. Once you have been through foreclosure, always think of the future and start saving money for it. The A foreclosed property on your books does have a negative impact on your profile. However, if you have saved adequate funds, you can present that to the creditors. By presenting more than required money for the down payment, you lessen the creditors’ risk and brighten your chances of getting credit for your home.
  • In case where the bank refuses to lend you any money, you can go to private lenders. Other option is to go for owner financed homers. There might be some formalities involved but keep these options open as well.
  • Getting a credit card is also a good option and you need to ensure that there are no defaults in the payments. This can prove to be highly valuable as you will have something positive to show to your creditors.

Moving after foreclosure may take some time, but you can definitely come out of it. Start afresh and keep your expenses and finances in check to build a better future.

Thursday, 5 September 2013

Reasons why Flood Insurance is a Necessity

A home is built with a lifetime of dreams and wealth accumulated over time. However, natural calamities such as floods can literally sweep away your dream house into nothingness. As a homeowner, it is necessary that you protect your property from any external threats and natural calamities and if your house happens to be in a flood prone area, it becomes extremely important to purchase flood insurance.

Akin to any other insurance, flood insurance allows you to have a complete peace of mind. Even if your home is protected with a homeowner’s insurance, you need to buy flood insurance as in a majority of the cases such policies do not cover damage caused by the floods.

A flood insurance policy will save you from a lot of troubles and expenses. Since predicting the exact time and intensity of the floods is not possible, the last thing that any homeowner wants on his/her mind is worrying about the expenses and bills. It is always wise to prevent than to lament later. Keeping a small amount as premium for flood insurance is a sensible option as it can save you from a lot of hardships later on. Do not wait for a natural calamity to strike and purchase the flood insurance to secure your house from the damages caused by floods.

Friday, 30 August 2013

All about Disability Insurance

A lot of people have skepticism revolving around disability insurance and how it can help them when some disability arises. To cut the long argument short, disability insurance is an essential part of your life as a simple accident can make you disabled and incapable to work for life. This can never be a happy situation as permanent disability may lead to a loss of pay. What can you do during such an unfortunate event?

Disability not only makes one incapable of working, but it also puts additional burden on the victim in terms of medical costs. With a limited or no income, it becomes extremely difficult to manage one’s life and take care of the mounting medical bills at the same time.

Disability insurance can provide you a shield from the financial turbulences that come uninvited with some disability. Disability insurance not only helps you pay for the medical bills, but also allows you to pay the required monthly bills and monthly installments.

Accidents do not come invited and investing a little of your monthly income towards your disability insurance plan is the best thing that you can do to safeguard your future. Choose the best disability insurance policy after reviewing your financial needs and get prepared to fight off any unpleasant event.

Tuesday, 27 August 2013

Protect Your Property from Storms with Roofing Insurance

We have no control over the forces of nature. It is therefore essential specifically for homeowners who live in areas that are prone to natural calamities such as storms, hurricanes or floods to have adequate storm insurance cover to protect them when some emergency strikes.

The roof protects us from storms, rain, sleet or snow. In case your roof is damaged during a storm, you must contact your insurance agent and get the details of what is covered in the policy. Getting the details of the policy is important as a lot of times it may happen that the storm insurance that you are planning to take does not provide coverage for roof damages.

Roofing insurance will help you financially meet the damages done to the roof of your house by the forces of the nature. Once you get an estimate, you can hire the professionals to rebuild the roof that can face fierce stormy conditions. Protecting your home from natural disasters should be your first priority and storm insurance helps you get back with your life easily without having to face the financial brunt.