How to avoid misrepresentation when your in an auto accident.
You feel the police report contains misimformation. The so-called witnesses take sides against you. How do you get justice? You must act in your behalf and act fast.
1. Call a certified investigative consultant on the spot.
2. Turn on your cellphone recorder.
3. Do not move any cars
4. Take pictures of the cars
5. Take of the skid marks
6. Take pictures of intersections and street signs adjacent to the accident scene.
7. Take pictures of any street cameras
8. Take pictures of street lights
9. Use a camera with time recorder
11. Ask police to make a record of your a statement of what you believe occured
12. Call friends and relatives who can arrive on the scene.
13. Make a note of all injuries
14. Take pictures of cuts bruises and abrasions
15 Go to the emergency room and get a full examination including ex-rays.
16. Get a copy of the admittance and examination records
17. keep a log of all expenses encurred and work time missed
18. Get immediate appraisal from insurance company.
19. Contact your attorney
20. Get sattelite records of the accident (pictures and video)
Friday, December 4, 2009
Saturday, November 1, 2008
Home Refinancing At Lowest Rates
For several months now home loan interest rates have been cut in an effort to stave off inflation. US benchmark interest rates are at the lowest level since June 2004 after the Federal Reserve this morning cut its key interest rate from 1.5% to 1%.
Having cut the fed rate six times one would think the economy would make a come back but with the stock market crash only days ago the eonomic turnover for the better seems distant.
Still the constant cuts are good for those shopping low mortgage interest rates. At the lows just keep coming. San Francisco Federal Reserve President Janet Yellen said the Fed could lower rates below 1%, and that they could reach as low as zero amid a weak economy. If the Fed do cut rates to 1% this would be the lowest level since June 2004.
What effect did this low level cut have on the economy? Will this cut produce long term economic stability? Only time and a little hope will tell. Just remember it's been done before and not so long ago. And although it's a drastic move to fend off a serious downturn it is indeed a home buyers market and a home refinancing treasure trove.
Having cut the fed rate six times one would think the economy would make a come back but with the stock market crash only days ago the eonomic turnover for the better seems distant.
Still the constant cuts are good for those shopping low mortgage interest rates. At the lows just keep coming. San Francisco Federal Reserve President Janet Yellen said the Fed could lower rates below 1%, and that they could reach as low as zero amid a weak economy. If the Fed do cut rates to 1% this would be the lowest level since June 2004.
What effect did this low level cut have on the economy? Will this cut produce long term economic stability? Only time and a little hope will tell. Just remember it's been done before and not so long ago. And although it's a drastic move to fend off a serious downturn it is indeed a home buyers market and a home refinancing treasure trove.
Tuesday, January 29, 2008
Homeowners with 2nd Mortgages Get Some Relief Refinancing
As the Fed cut rates consectively to revitalize the economy homeowners are seeing a golden opportunity to save money and reduce credit obligation. With the recent drop in interest rates, homeowners carrying two mortgages are deciding to refinance, combining both the first and second mortgages into a single loan at a better interest rate.
If one of your current mortgages already carries a low interest rate, you should only refinance it if you can match or better the rate with your new loan.
Although you do not have to combine both mortgages in order to refinance if both rates are high and current rates are significanly lower, say .50 basis points lower why not do so if you are able. You should be able to reduce your interest charges dramatically.
What ever you do get out of that ARM. No one really knows what the economy will look like months ahead.
That said get out of the ARM as soon as possible. ARMs are volatile and can alter your financial situation drastically. Get into a fixed rate ASAP.
The Fed is expected to cut rates .50 bps following a historic rate cut of .75 bps just last week. It now is at 3.5 percent, but is expected to drop to 3 percent at the Fed meeting Jan, 30th 2008.
Banks would be expected to lower their prime lending rate by a corresponding amount — from 6.5 percent to 6 percent. The prime rate applies to certain credit cards, home equity lines of credit and other loans. That means both the funds rate and the prime rate would be at nearly three-year lows.
Compare home mortgage rates offered by lenders to those you currently have. You may be able to save hundreds if not thousands over the life of the loan refinancing at today's lower rates.
If one of your current mortgages already carries a low interest rate, you should only refinance it if you can match or better the rate with your new loan.
Although you do not have to combine both mortgages in order to refinance if both rates are high and current rates are significanly lower, say .50 basis points lower why not do so if you are able. You should be able to reduce your interest charges dramatically.
What ever you do get out of that ARM. No one really knows what the economy will look like months ahead.
That said get out of the ARM as soon as possible. ARMs are volatile and can alter your financial situation drastically. Get into a fixed rate ASAP.
The Fed is expected to cut rates .50 bps following a historic rate cut of .75 bps just last week. It now is at 3.5 percent, but is expected to drop to 3 percent at the Fed meeting Jan, 30th 2008.
Banks would be expected to lower their prime lending rate by a corresponding amount — from 6.5 percent to 6 percent. The prime rate applies to certain credit cards, home equity lines of credit and other loans. That means both the funds rate and the prime rate would be at nearly three-year lows.
Compare home mortgage rates offered by lenders to those you currently have. You may be able to save hundreds if not thousands over the life of the loan refinancing at today's lower rates.
Wednesday, January 23, 2008
Feds Cut Interest Rates 0.75 bps - Good Time To Refinance?
Wednesday, January 25, 2008
Following a December rate cut the Fed acts again to boost a weakening economy and prevent recessionary contagion.
Federal Reserve made history yesterday cutting the interest rate a whopping .75 Bps. This was the fourth interest rate cut in the last few months.
Feds cut rates 75 bps. The biggest cut in 17 years. Homeowners seeking release from ARM's may see this as a good time to refinance.
The New York Times reports, "The reduction in the federal funds rate from 4.25 percent down to 3.5 percent marked the biggest reduction in this target rate for overnight loans on records going back to 1990."
The results? Stocks surged as a result of the news. Loan applications increased and Internet rate hunting activities increased 33% according to Fimark's Refinance Loan Rates resource.
The home mortgage refinance resource resource encourages consumers to negotiate with multiple lenders who are willing to beat or meet other offers. Remember to lock-in attractive rates for as long as it takes to process the loan.
Experts predict the Fed would lower the funds rate to 3 percent by the end of March 2008.
Those with an adjustable rate loan (ARM) or credit card can anticipate a drop in rates in the weeks following a rate cut. Fixed rates are not immediatly affected. Still 15 or 30 year fixed rate loan programs will benefit from improved mortgage lending market and consumers can expect more attractive loan packages.
Those opting for a 15 or 30 year fixed rate loan program may see a savings of up to tens of thousands of dollars with a rate that's just .25% higher.
Following a December rate cut the Fed acts again to boost a weakening economy and prevent recessionary contagion.
Federal Reserve made history yesterday cutting the interest rate a whopping .75 Bps. This was the fourth interest rate cut in the last few months.
Feds cut rates 75 bps. The biggest cut in 17 years. Homeowners seeking release from ARM's may see this as a good time to refinance.
The New York Times reports, "The reduction in the federal funds rate from 4.25 percent down to 3.5 percent marked the biggest reduction in this target rate for overnight loans on records going back to 1990."
The results? Stocks surged as a result of the news. Loan applications increased and Internet rate hunting activities increased 33% according to Fimark's Refinance Loan Rates resource.
The home mortgage refinance resource resource encourages consumers to negotiate with multiple lenders who are willing to beat or meet other offers. Remember to lock-in attractive rates for as long as it takes to process the loan.
Experts predict the Fed would lower the funds rate to 3 percent by the end of March 2008.
Those with an adjustable rate loan (ARM) or credit card can anticipate a drop in rates in the weeks following a rate cut. Fixed rates are not immediatly affected. Still 15 or 30 year fixed rate loan programs will benefit from improved mortgage lending market and consumers can expect more attractive loan packages.
Those opting for a 15 or 30 year fixed rate loan program may see a savings of up to tens of thousands of dollars with a rate that's just .25% higher.
Thursday, October 18, 2007
Fed Prime Drops 0.50%
The Fed Prime Rate drops 0.50%. That's a significant low. Meanwhile, following the release of the September 18th minutes of the Fed's Open Market Committee (FOMC) meeting, financial markets reassessed the likelihood of another rate cut at the upcoming October 31st meeting. The market currently is looking for about a 30 percent chance of a 25 basis point rate cut rather than the 50 percent chance that they had previously expected.
A HomeBuyers Market?
Homebuyers paid 7% or 8% during the mid- to late-'90s, and double-digit rates were the norm throughout the '80s and early '90s. Compare that to todays rates and the talk about rates cuts and it's easy to see why it may still be a homebuyers market.
Can homeowners still save when refinancing? Refinancing savings all depends on when you bought your home and what rates were at the time. Currently homeowners can realize a savings if refinancing rates are 30 or more base points lower that ones current rates.
30 Yr Fix 6.37% 0.03%
15 Yr Fix 6.03% 0.05%
1 Yr ARM 5.58% -0.07%
5/1 ARM 6.11% -0.10%
30 Yr Tres 4.87% 0.10%
Fed Prime 7.75% -0.50%
To find out how much loan you can afford use the refinance calculator at
http://refinanceloanrates.fimark.net
A HomeBuyers Market?
Homebuyers paid 7% or 8% during the mid- to late-'90s, and double-digit rates were the norm throughout the '80s and early '90s. Compare that to todays rates and the talk about rates cuts and it's easy to see why it may still be a homebuyers market.
Can homeowners still save when refinancing? Refinancing savings all depends on when you bought your home and what rates were at the time. Currently homeowners can realize a savings if refinancing rates are 30 or more base points lower that ones current rates.
30 Yr Fix 6.37% 0.03%
15 Yr Fix 6.03% 0.05%
1 Yr ARM 5.58% -0.07%
5/1 ARM 6.11% -0.10%
30 Yr Tres 4.87% 0.10%
Fed Prime 7.75% -0.50%
To find out how much loan you can afford use the refinance calculator at
http://refinanceloanrates.fimark.net
Monday, October 15, 2007
Foreclosure Prevention Help
The federal government and major industry players are taking a hard look at an what seems to be an impending foreclosure tsunami.
A recent announcement by the federal government and participating lenders regarding the formation of a group called "Hope Now" indicates relief may well be on the way. The group, consisting of banks and major lenders will help to improve assistance to troubled mortgagors.
The Mortgage Loan Search Financial Network reports growing use of resources designed to help home owners experiencing mortgage default. The sites located at http://www.bcpl.net/~ibcnet/index-foreclosure.html features step-by-step guides to prevent foreclosure.
The Hope Now alliance is made up of all major mortgage servicers. These servicers handle 60 percent of the mortgages in the U.S. Federally approved credit counseling organizations are an important part of the network. The website is located at www.hopenow.com. Users are helped to ID their servicers (i.e., look on your mortgage statement). Several approved credit counselors are provided along with links to foreclosure information.
A recent announcement by the federal government and participating lenders regarding the formation of a group called "Hope Now" indicates relief may well be on the way. The group, consisting of banks and major lenders will help to improve assistance to troubled mortgagors.
The Mortgage Loan Search Financial Network reports growing use of resources designed to help home owners experiencing mortgage default. The sites located at http://www.bcpl.net/~ibcnet/index-foreclosure.html features step-by-step guides to prevent foreclosure.
The Hope Now alliance is made up of all major mortgage servicers. These servicers handle 60 percent of the mortgages in the U.S. Federally approved credit counseling organizations are an important part of the network. The website is located at www.hopenow.com. Users are helped to ID their servicers (i.e., look on your mortgage statement). Several approved credit counselors are provided along with links to foreclosure information.
Friday, October 12, 2007
Popular Financial Dictionaries Online
This blog will list useful dictionaries, Q&A's and Wiki reference guides as they become available.
Wiki A website or similar online resource which allows users to add and edit content collectively.
www.tvb.org/multiplatform/Multiplatform_Glossary.asp
One of the more popular Wikis is Wikipedia. Wikipedia is a free encyclopedia than can be edited by anyone with access to it. It provides an easy method for linking from one page to another. This is a good place to find extended definitions to difficult financial terms. http://wikipedia.org/
Business Plan Glossary/Dictionary
I must include a dictionary I consider very useful for those putting together a business plan. The Business Plan Dictionary meets my criteria for usability. This dictionary allow you to lookup terms using a search box or scroll down. The terms and definitions are extended where possible to give the user a multi-faceted look at the word in order to better appreciate it.
Wiki A website or similar online resource which allows users to add and edit content collectively.
www.tvb.org/multiplatform/Multiplatform_Glossary.asp
One of the more popular Wikis is Wikipedia. Wikipedia is a free encyclopedia than can be edited by anyone with access to it. It provides an easy method for linking from one page to another. This is a good place to find extended definitions to difficult financial terms. http://wikipedia.org/
Business Plan Glossary/Dictionary
I must include a dictionary I consider very useful for those putting together a business plan. The Business Plan Dictionary meets my criteria for usability. This dictionary allow you to lookup terms using a search box or scroll down. The terms and definitions are extended where possible to give the user a multi-faceted look at the word in order to better appreciate it.
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