Accident Health Insurance plan

Accident health insurance plan is a practical solution for anyone who is looking to insure themselves against any accidents. These plans come under indemnity category and will provide insurance for your injuries resulting from an accident.

There are no qualifying criteria for applicants when applying for Accident health insurance plans. The best part of these plans is that they can be redeemed from any doctor, hospital and other healthcare facilities. The plan has the coverage amount of $2,500, $5,000, $7,500, or $10,000 for its beneficiaries.

The typical deductible amount that a person needs to pay before he or she receives the amount is $100 dollars. When you have covered yourself under an accident health insurance plan, medical bills such as ambulance charges, lab tests, x-rays and other such expenditures are also paid under the cover plan.

Under most cases accident health insurance plan will pay for a person’s accidental injuries. However, they are not applicable if the person during the time of the accident is found to be under the influence of alcohol and other drugs.

So, if you haven’t insured yourself under accident health insurance plan, it is advisable that you insure the most important thing in your life i.e. yourself.

Mortgage Refinance factors

Refinancing a home purchase loan is a commonly availed option for many homeowners who are looking for reducing their monthly repayments. But just because it is commonly availed by many homeowners, does not mean that it is good for you as well. Whether applying for a mortgage refinancing is a good option for you or not depends on your situations.

The first important factor that you need to consider is your loan-to-value ratio (LTV). It is advisable that your LTV is at least 80 percent of your loan in case of refinancing. An equity amounting to at least 20 percent of your loan is advisable. The lower the LTV, the better chances you stand for a refinancing with better rates.

The second important aspect is the interest rate of the new loan. Calculate how much the new interest rate will prove beneficial to you and the monthly savings that you will achieve with the new refinanced loan. This will give you an idea whether you should apply for the loan or not. Check about the closing rates as well when calculating the savings. Calculating new interest rates along with closing costs will give you a detailed idea regarding the worth of the refinanced loan.

Home Purchase Loan for Self Employed

It is everyone’s dream to purchase their own home, but it is not an easy process. Applying for mortgage loans can be a tedious and tiresome process, with months in waiting. However, self-employed people find it more difficult than people with fixed regular jobs in finding the lender which will provide them with the best interest rates.

One of main reasons behind this difficulty is the uncertainty associated with incomes and job-security of a self-employed applicant. There is no guarantee of a fixed income of the debtor affecting the loan repayment. But that does not mean that self employed cannot apply for the loan.

When a self-employed person is applying for a home-loan, there are certain qualifying criteria’s for qualifying. The applicant needs to provide income proof that will furnish as the status that the person business is going fine financially.

Apart from the income proof, there are other documents that need to be submitted with the bank to apply for a mortgage loan. These include the business credit report, trading tax returns and business license. Another criterion is that the person should have been self-employed for at least a period of three years prior to applying for the loan.

So, if you are qualifying the criteria, you can apply for a mortgage loan to purchase your own home.

Foreclosure and Eviction Process

Many times due to unfortunate circumstances, several homeowners have to face foreclosure and eviction from there homes. The process can be exhausting process with the family leaving the property and moving to a new place.

Foreclosure is the process of selling a debtor’s property to recover the loan amount. Generally, a foreclosure takes place if the debtor is late behind his/her payments for around 3 to 6 months. If the debtor is unable is pay the amount after this period, banks order foreclosure of the property to recover the loan amount.

Once the property is put for foreclosure, the eviction process law varies from state to state. Some states give a period of one year for homeowners to stay and redeem the property and some states do not have any eviction period. An eviction process generally takes about 2 to 4 weeks, where the homeowner is given the notice to look for another place to live. But once, the notice period gets over, locks are changed and the homeowners are put on the streets if they have not evicted the property yet. Therefore, it is better to look out for a new place before the sheriff comes home for the eviction process.

College savings with 529 Plans

In the United States, college fees are extremely high with a big expenditure on the part of the parents. But at the same time, they are an investment for your child’s future. People who have a better educational background earn and live a better life with better amenities and money to support their own families.

If you are a new parent, it is best to start investing in your child’s education from today itself to make sure that you have saved enough money for your child’s education. Among many plans, 529 plans are a good option to invest your money.

The 529 plan is a state-operated savings plan, which has various benefits such as tax-exemption on the capital amount. The plan was introduced by Congress and is also known as qualified tuition programs (QTPs). Introduced in 1996, it is one of the popular investment plans offered by all the states in the country.

Every state offers differ plans to its citizens, but there are two major divisions offered by all the states.

• College saving plans

• Prepaid tuition plans

529 plan offers are exempted from federal taxes even in the case of withdrawals, as long as the withdrawals are towards paying college fees of your child. So, of you are planning to invest in college funds 529 plans are a viable option.

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