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Monthly Archives: July 2009
Beware Of Sinking Properties
Author : Michael challiner
Obtaining buildings insurance if you want to buy a property where there is evidence of subsidence will be very difficult A director of a Home Insurance company, claims that there are two options available, either you buy the property at a reduced price and pay for the relevant treatment yourself But you will not be insured during this time and when you do go to buy insurance your premium will be a lot higher
Or you buy the property at market value, but stipulate that the seller makes a claim against their existing insurance policy before they move house As long as you have the agreement of the insurer, the work can be executed under their policy despite the fact that the property will have new ownership However, an agreement must be drawn up that assigns the benefits of the claim to the new owner
If you already own a dwelling suffering from subsidence, increasingly sophisticated technology can reverse the problem Some home insurance companies provide their own DNA profiler to pin point particular trees causing subsidence Hence where you have a row of similar trees, the offending one alone can be identified and action taken in isolation, which is much better than the draconian measures of felling all the trees Indeed, in some cases, there may be no need to cut the tree down and pruning could be sufficient to ensure it extracts less water from the soil
Underpinning is the most common remedy for a building that has already started to sink This involves digging a hole around the area of the property that is affected and filling it with concrete
If you need to make a claim in this situation, you will need to do so, on your buildings insurance However, a policy will only pay up if the correct criteria are met, such as if subsidence started since you moved to the property In principle, if subsidence was mentioned in the survey and relevant cover was organised at a premium, the insurance company should also still pay
Your buildings insurance will cover you, however, if you did not disclose any existing subsidence in the initial application And cover would be refused in the first place if subsidence has been flagged as a significant problem on your survey
There is, of course an excess to pay, even with successful claims and this varies between insurers and even geographical areas The standard 1000 pounds excess charged by some insurers, for example, doubles in certain postcodes Your insurance premiums will not increase after claiming for subsidence, but losing a no claims bonus might have the same result on your wallet
Damage to garden walls will not be covered by insurers since they are not usually built on solid structures The same conditions also apply to paths and driveways
Homeowners should also be aware that there are some grey areas – what insurers consider as “normal ground movement”, for example, which are excluded from the claim
Finally, the policy will not cover “defective design and construction” of the property, but this is very rare according to a Director of a large insurance company “If the insurance application is accurate, an insurer should know what they are covering – warts and all ”
Insurance against subsidence can seem to have as many pitfalls as the problem itself But without it, the homeowner can face costs of around 20,000 pounds or more Say the company spokesman “That’s why most people hear the word subsidence and run a mile “
You never know what can happen, so Home Insurance is extremely important go to the Brokers Online web site. Brokers Online offers helpful articles and information about Home and Contents Insurance. We can also provide our customers with quotes for Life Insurance and many many more Insurance products.
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Working on Home Projects Reverse Mortgage
Author : Beth Ibarra
If you are a home owner, you are probably well aware of how often new projects seem to arise that need completing around your home Additionally, if you are like most home owners you are probably always finding things that you would like to upgrade or change around your home The problem for many people however is that they can not seem to come up with enough money to take care of these projects when they do come up
If you would like to change some things about your home or have projects that need to be completed but are short on the money needed to pay for them, you might want to look into the option of taking out a reverse mortgage or other type of loan to pay for it It is very common not to have enough money saved up when things need to be fixed around the home, and this is when many home owners choose to take out loans to get the money they need to complete the projects
Of course, your ability to take out a reverse mortgage or other type of loan is based on your credit and your income among other things, so it is a good idea to meet with reverse mortgage lenders or your banker to make sure that you qualify to borrow the money that you need When you meet with reverse mortgage lenders or your banker, you will likely have to provide proof of your income and will go through a credit check to verify you ability to repay the money that you borrow However, every situation is different so it may be best to ask your banker what you can expect
Hopefully you will have no problems getting a reverse mortgage or other type of loan and will be able to complete the projects around your home when you want them to be completed One of the greatest parts of being a home owner is that you have control over what you do with your home and what changes you make Hopefully a financial issue will not be what stands between you making the changes that you want and continue being happy with the look of your home
Of course, when it does come time to complete the projects that need to be done around your home, you will have to decide if you want to complete them on your own or hire someone to complete them for you If you have experience with the type of project that needs to be completed, it might save you some money to complete it on your own However, if you are not confident in your ability to complete the project at a professional level, it might be better for you to hire someone that specializes in that type of project to complete it for you If you hire someone, you might want to take your time and look at several options to make sure that you are hiring someone experienced and credible with this type of project
More information can be found on reverse mortgages at MyRefi.com
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Important Steps To Stop Foreclosure Of Your Home
Author : Cindy Heller
When the economy slows down, many people are losing their jobs As a result, they cannot meet their monthly mortgage obligations and thus they may lose their homes due to foreclosure If you are at risk in facing the same situation and want to know how to stop foreclosure, this article will give you some steps that you should consider so you can keep your home during difficult financial crisis
Before you tackle your problem, you have to clear your mind and get rid of any frustration If you are stressed out, you will not be able to think clearly This condition will make your current situation even worse because you may make the wrong decision based on impulse or out of frustration Therefore, you need to take some time to calm yourself before you start looking for options that you have to solve the issue
After you clear your mind, you can start on your quest to find the answer on how to stop foreclosure Firstly you need to regain control of your personal finance It means that you have to know your income and your expenses Try to separate your expenses into different categories, such as bills, transportation, food, transportation, insurance, and entertainments Collect all your bills from previous months so you will get better accuracy Once you do this exercise, you will find out the amount of money that you have left to pay the mortgage
If you find that your money is not enough to pay the mortgage, you should cut back your expenses Start with items that belong to the entertainment category Basically these are items that you want, but not items that you need Items like cable TV, monthly subscriptions, club memberships, watching movies, and dinner outside are categorized as entertainment and you have to cut back your expense significantly from this category You can live without them and if you keep spending on these items, you will live without your house
If you have eliminated the unnecessary entertainments, you can move to the next category and that is your bills Reduce your energy usage by using less electricity, less heating and cooling, and unplugging electricity devices from their sockets If necessary, you should consider selling some items that you rarely use You can reduce your phone bills by canceling call waiting and caller ID
The next thing to do is to reduce your transportation cost Perhaps you can arrange car pool with your colleagues, friends, or neighbors If it is feasible and cheaper, you should use public transport instead You need to discipline yourself and you will surprise to find out how much money you can save from this reducing strategy
Now you get the final number and know how much money you can use to pay the mortgage This is the time to contact your lender and negotiate your term of payment If you have received a notice, you have to respond to them immediately If you delay, it will be difficult to avoid foreclosure Discuss with the lender about your financial situation and show to them that you have managed to calculate your monthly expenses Ask them for help, they should be able to come up with some refinancing plan that meets your current budget
Lenders usually are willing to help their customers because they want to avoid foreclosure as well The process of foreclosure is complicated and expensive for them Furthermore, they work in lending money business, thus they do not want to manage properties If nobody stays in the properties, they will not receive any money from them Therefore, it is better for them to help you rather than go to foreclosure Hopefully this brief article will help you to find out how to stop foreclosure
Cindy Heller is a professional writer. To learn how to stop foreclosure, please visit Free Foreclosure Help.
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Setting Up Your Business
Author : Uchenna Ani-Okoye
Particularly when sales are down, you must be “hard-nosed” with people trying to sell you luxuries for your business When business is booming, you undoubtedly will allow sales people to show you new models of equipment or a new line of supplies; but when your business is down, skip the entertaining frills and concentrate on the basics Great care must be taken however, to maintain courtesy and allow these sellers to consider you a friend and call back at another time
Your company’s books should reflect your way of thinking, and whoever maintains them should generate information according to your policies Thus, you should hire an outside accountant or accounting firm to figure your return on your investment, as well as the turnover on your accounts receivable and inventory Such an audit or survey should focus in depth on any or every item within your financial statement that merits special attention In this way, you’ll probably uncover any potential financial problems before they become readily apparent, and certainly before they could get out of hand
Many small companies set up advisory boards of outside professional people These are sometimes known as Power Circles and once in place, the business always benefits, especially in times of short operating capital Such an advisory board or power circle should include an attorney, a certified public accountant, civic club leaders, owners or managers of businesses similar to yours, and retired executives Setting up such an advisory board of directors is really quite easy, because most people you ask will be honoured to serve
Once your board is set up, you should meet about once a month and present material for review Each meeting should be a discussion of your business problems and an input from your advisors relative to possible solutions These members of your board of advisors should offer you advice as well as alternatives, and provide you with objectivity No formal decisions need to be made either at your board meeting, or as a result of them, but you should be able to gain a great deal from the suggestions you hear
You will find that most of your customers have the money to pay at least some of what they owe you immediately To keep them current, and the number of accounts receivable in your files to a minimum, you should call them on the phone and ask for some kind of explanation why they’re falling behind If you develop such a habit as part of your operating procedure, you’ll find your invoices will magically be drawn to the front of their piles of bills to pay Try to maintain a courteous attitude, don’t be hesitant or too much of a “nice guy” when it comes to collecting money
Something else that’s a very good business practice, but which few business owners do is to methodically build a credit rating with their local banks Particularly when you have a good cash flow, you should borrow $100 to $1,000 from your banks every 90 days or so Simply borrow the money, and place it in an interest bearing account, and then pay it all back at least a month or so before it’s due By doing this, you will increase the borrowing power of your signature, and strengthen your ability to obtain needed financing on short notice This is a kind of business leverage that will be of great value to you if or whenever your cash position becomes less favourable
Uchenna Ani-Okoye is an internet marketing advisor.
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8 Inexpensive Ways to Promote Your Work at Home Typing Business
Author : Jeff Casmer
Making the decision to start a work at home typing business is one thing Going out and finding people to work for is another As a start-up home based business, it can be very difficult to promote your services and without blowing your budget So here are some highly effective ways to build and promote your work at home typing business without breaking the bank
Define Your Target
Don’t waste your time and money promoting your services to the wrong people Before you begin any type of promotion, identify exactly who your potential customers are For a work at home typing business, start with small local businesses Don’t focus on the big companies, as most of the time they have their own employment agencies
Build a Mailing List
Start building a database of contact information for local businesses Then mail them information about your service Continue to build the database, and mail them promotional information whenever you are looking for more work
Create Business Cards
Getting business cards printed are a simple way to distribute information about your services They can be printed for a relatively low cost, and can even be done free if you have certain software on your computer Be sure to always include your full name, contact details and the specific service you offer on your business card Create them in bulk and hand them out at any chance you get
Mail shots
Mail shots are a form of direct marketing which simply involve you sending a promotional letter to a list of businesses to let them know of the service you are offering This can be done via email also, but is not nearly as effective Try not to sound too much like a cheesy commercial Keep it simple Inform the businesses of what you offer, and tell them to save your business card for future reference Don’t be discouraged if your first mail shot does not produce results; simply write another piece and send it out in another month
Add Unique Branding
You want to make sure you come across as a reputable and recognisable business (even if you are just working from home) Create a professional letter head template to use on all your mailings so that other business can recognise you You might also want to create a logo for your services, and include it on all your business cards, letters and stationary Be sure to keep the same colour scheme The key here is to make sure your advertising is uniform and that people recognise who you are and what you do
Post Flyers
Have flyers created and post them in locations where your targeted business will see them Simple as that (You can even include them as mail shots if you want)
Free Ads
There are a number of places which offer notice boards where you can post ads about your service for free Check out shop fronts, churches, libraries and wholesalers Also, make sure you return regularly and check that your ad hasn’t been replaced or covered
Place Classified Ads
Most local newspapers have classified sections where you can place your ad for an affordable price Place some ads in different local papers when you need some more business
When you are just starting out, it doesn’t take much to blow your budget But with a little bit of time and effort using the above promotion strategies, it won’t be long before you have plenty of paying jobs for your work at home typing business
Jeff Casmer is an internet marketing consultant and work at home business owner. For more information on work at home typing online please visit his ‘Top Ranked’ Work at Home Typing Directory which gives you all the information you need to Work at Home in the 21st century.
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Can Bankruptcy Stop The Foreclosure Process
Author : Sal Farzin
Many homeowners these days are going through the mortgage foreclosure process Most of them usually end up filing for bankruptcy in an attempt to save their properties from being auctioned off The bankruptcy option is actually the process least understood by a lot of homeowners It is also the least popular at that However, this option can actually provide a ray of hope for mortgage foreclosure victims There maybe drawbacks in filing for it in one way or the other But it may actually save your home and your credit history at the same time
Bankruptcy is also referred to as Chapter 13 It a provision of the law where in a restructured payment plan is created in an attempt to mend one’s debts and credit problems The payment plan through bankruptcy can sometimes get very expensive But a lot of individuals still go for it just so they can get their finances back on track After all your obligations are met, the bankruptcy clause would be lifted and the repayment of regular mortgage continues
If foreclosure is your main problem, you can actually file for bankruptcy and stop the entire mortgage foreclosure process – at least for a certain period of time This is most applicable at the point wherein the trustee’s sale is being enforced Usually, this is the most critical part of the entire process of bankruptcy, especially for those facing an imminent foreclosure on their mortgage Filing for Chapter 13 will give the borrower some time to plan and hopefully, save their ownership of the property
Chapter 13 can be a good option for people who are facing foreclosure But of course, you may also want to exhaust all of your alternatives first Bankruptcy is not always the best solution, but it is still a solution nonetheless Every mortgage foreclosure situation is unique What works for others may not work for you and vice versa It takes a lot of financial analysis to find the best possible solution to your money concerns
Ideally, mortgage foreclosure should be the last resort for many homeowners facing foreclosure Talk to a lawyer who handles personal bankruptcy cases and try to acquire a good understanding of everything involved in this particular law You have to be well-informed about the implications of bankruptcy before filing for it because it is going to affect your finances and social status more than anyone else
Sal provides expert advice about the foreclosure process by writing articles about bankruptcy foreclosure and other topics.
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How Important Is Location To Your Business Success
Author : Donna-Marie Coggins
What’s that saying about location being everything? When it comes to business, in many cases it is one of the most important factors If you’re starting out in business it pays to give this topic considerable thought
The main options are generally:
- Work from home
- Buy suitable premises – retail, industrial or whatever is required for your business type or
- Lease premises
For many, working from home is the ideal choice While this sounds great at first, it’s not always practical and not everyone is disciplined enough to do this successfully
Consider:
- The age of your children, if you have them (this may work for or against a home-based business)
- How disciplined you are
- Whether you have enough space
- How your family feels about this
- What the Council regulations are
- If you be employing staff and if so, if you are prepared for them to be in your home
- Whether you will have customers visiting and if so, can you suitably maintain your home?
- Do you have enough parking available?
- Whether you will affect your neighbours
- Whether you will have any hazardous chemicals on the property or excessive noise
- Whether you will be creating extra waste and if so, how you will deal with that
- What implications this will bring regarding security issues, insurance, clients visiting after-hours
- If you’re renting your home, will your landlord allow you to run this business from home?
- Do you need to be easily seen by customers or can you operate your business online?
Mind you, just because things don’t look 100% rosy from this list doesn’t mean it’s not an option If you can’t have customers visiting for some reason you may choose to offer a free delivery service, making sure you factor this cost into your pricing Meanwhile cafes are a great place to arrange meetings
If you decide that working from home isn’t a suitable option for you, the other options would be to buy or lease commercial premises – office, shed, retail store For this option, first be aware of:
- What type of customers you will be marketing to – make sure your location is easily accessible to these people
- Your budget – to a great degree you get what you pay for, but don’t sign into an expensive lease in the CBD unless you’re sure you can afford it and it’s the best option for you
- Where your competitors are located – in some industries it’s good for competitors to be centrally located; in other industries this makes business-life much more challenging
- What is the traffic flow like?
Before you sign anything
While it’s tempting to cut costs wherever possible when starting out in business, this is not one of those places! Leases are complex legal documents, often full of fine print Investing in a solicitor here may save a lot more money, time and your reputation
Make sure you know things like:
- What happens if the business closes or is sold?
- How and when is the rent paid and to whom?
- Will there be any legal fees associated with the lease and if so, who is responsible for these?
- Who is responsible for the insurance of the premises?
- Who is responsible for the maintenance of the building and surrounding property (for example, plumbing, lawns and gardens)?
- Do the owners approve of the business you intend operating from these premises (make sure this is specified in writing within the lease)?
Donna-Marie Coggins is an author and business owner, providing guidance, resources and support to small and micro-businesses. For tips and resources on running a small business and your free guide, 60 Free And Low-Cost Ways To Get Your Business Noticed go to http://www.Donna-MarieCoggins.com
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If Your Employer is Not Prepared Should You Be
Author : Jason Haines
People in employment may want to cover themselves against possible redundancy and loss of income following revelations that a good percentage of their employers risk succumbing to the recession due to the way they operate
Research from Scottish Widows has revealed that many businesses in the UK are not doing enough to shield themselves from the unexpected, which underscores the need for people to put in place their own protection mechanisms
Such mechanisms include taking out products such as income protection insurance or accident sickness and unemployment cover, which can come in handy should a person lose their source of income in the event of a company going into administration
According to the research, despite the fact that three in five UK businesses admit that they would not be able to survive if they were to lose a key employee, four in five (81 per cent) depend on such important persons
More worryingly, 67 per cent of businesses do not have any key employee insured with life cover or critical illness protection, which could leave them badly exposed if the person was to be taken ill or die These findings highlight the importance of people having their own fallback plans, which can guarantee some continuity in earnings
There are now some providers of income protection and life insurance policies that offer unemployment cover as an add on benefit An advisor at a leading online comparison site points out that although you must have a small amount of life cover with the policy if you do not require income protection cover that their premiums were still highly competitive
Where can I find out more about unemployment cover?
Many online comparison websites allow you to compare premiums on the standard accident sickness and unemployment cover providers However none of these sites currently have the facility to offer quotes on life insurance or income protection cover providers who offer unemployment as a rider benefit
To obtain quotations on polices that offer unemployment benefit as a rider benefit you could also contact an independent financial advisor Most financial advisors do not charge a fee and have access to all the major insurance companies The will review your complete financial situation and make a recommendation to suit your circumstances and budget With all financial advice you are not obliged to take the policy they recommend and you are free to shop around for a more competitive premium if you so wish
Jason Haines is a protection and mortgage advisor at godirect.co.uk, one of the UK’s most trusted information site about personal finance. The have details on the latest income protection cover and offer free independent income protection quotes with their new interactive quote system.
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