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If you think you may not have the ability to generate cost on time, you really need to express it towards the bank therefore the guy doesn’t costs a penalty.
A good credit score helps you to save on hassle and you can large can cost you, which means you has to take every step to evolve your credit rating.
Sure, this new networking sites i examined provide signature loans getting less than perfect credit scores. They think one to you ought not remain at the rear of impact undesired. Hence, he’s got prolonged properties in order to less than perfect credit rating owners.
Providing a consumer loan is not difficult if you choose best industries. You can trust Currency Shared to acquire a personal loan easily. The brand new network have a quick and simple application processes, a person-amicable interface, and you may a wide range of loan providers.
This type of products always rapidly rating linked to a loan provider and get financing to meet up with your financial difficulties. MoneyMutual also provides timely customer service to reach out on them each time there clearly was an aggravation.
That ends up the breakdown of unsecured unsecured loans
Moreover, MoneyMutual’s webpages enables you to examine interest levels regarding additional loan providers, so you’re able to find the one that serves the wallet. Finally, the working platform spends large-prevent cover so you can secure your details. Therefore, was MoneyMutual and take the break you’ve got always dreamt off!
Should you ever end within the a difficult monetary destination, we recommend that your make an application for a loan using one out-of this new systems provided within record. Predicated on our very own comprehensive lookup, they are most useful and more than legitimate platforms in the monetary industry now.
Currency Common welcomes the job even though you need financing getting family recovery otherwise a secondary trip to this new northern
All platform provides an intensive system regarding legitimate consumer loan loan providers that constantly willing to let members of necessity of money. For many who apply to him or her, you will get the cash deposited on the checking account within 1 day. This might be a whole lot more glamorous to own consumers than waiting for occasions at a stretch from inside the lines in the its banking institutions.
Thank goodness that you could sign up for financing to own many and varied reasons. Thus, you don’t need to an enormous reason to locate eligible to an excellent mortgage.
To track down approved for a loan, you should also have a flowing family savings at bank. This might be a requirement as the bank have a tendency to individually put money to your account.
You might choose the automated payment program to end penalties with the late money. Moreover, brand new automatic fees will save you the minimum credit rating off deteriorating. So, you could potentially get this one and start to become be concerned-free.
The web application requests your own title, current email address, home, SSN, money, and you will financial info. Definitely have this details about hands to keep go out. When you fill out the proper execution, you have to waiting till your own consult gets accepted.
Once your software is recognized and you will linked to a lender, you can opinion new lender’s mortgage terms, Annual percentage rate, and you will limitations. For folks who take on the mortgage offer, the lending company will import financing for your requirements in a single team big date. The good area is the fact all this is done electronically, so that you don’t have to make hard physical work to track down financing on your own account.
I examined each platform’s quantity of defense. Privacy and you may protection are very important as they shield their banking information, online payday advance Celina occupations pointers, and private suggestions.
New quick solution to improve your credit rating is through while making punctual repayments. You really need to prevent to make late money otherwise taking on punishment that may deteriorate your own rating. Furthermore, you should also pay-off financial obligation on correct time so you can sense an increase in your credit rating.
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Land up for sale Koh Samui is readily available in numerous places, each along with its personal special components. It is essential to locate the right site for your venture. Elements like the dimension of the home, its closeness to the water, as well as building materials need to be thought about. Land auctions Koh Samui
While direct property possession for foreigners is actually restricted, there are various other legal avenues to seek. These consist of leasehold and also Thai Limited provider structures.
This Koh Samui land area up for sale in an unique beachfront place is a haven of exotic luxury as well as awesome scenes. Along with postcard worthy views and also straight access to the sea, this West dealing with beachfront home is actually the suitable location for your luxury property advancement.
Situated in Plai Laem, this spacious sea viewpoint land available for sale Koh Samui provides the independence to concept and build your best home – a sunshine smooched paradise that wonderfully records the island atmospheres of Koh Samui. Along with charitable property dimension, you can develop a marvelous home with available plan living rooms that open to the crisp blue waters of the Basin of Thailand. Property management
Nestled in the north of Koh Samui, this immaculate shoreline property is actually a covert gem. Along with a peaceful environment and tranquility far eliminated from the talk of Chaweng, this is actually the location to choose those finding tranquility and personal privacy. Here you can locate old Thai homes that whisper stories of times gone through as well as modern-day refuges assuring unmatched luxury.
Maenam is actually a loved ones’s haven. With soft surges washing the coast, recreation spaces echoing with chuckling, and a tight-knit area feeling, this is actually an area where households thrive. Right here you’ll discover a mixture of picturesque Thai homes, beachfront bistros, as well as present day sanctuaries.
An excellent isle shining like a gem in the turquoise waters of the Bay of Thailand, Ko Samui has long been actually a goal destination for vacationers. Right now it’s making surges in the real estate scene as homebuyers seek to revel in the island way of life at its finest. But what performs it need to possess your quite personal slice of haven on this isle jewel?
Whether you are actually a first-time buyer or a skilled financier, this Koh Samui land available for sale makes certain to please. This ocean perspective plot is actually ideally placed in among the island’s finest regions, as well as provides unobstructed ocean scenery from its hilltop location. Its own roomy style and thoughtful concept ensure a truly remarkable living adventure. Housing market
Along with a sensational coastline, this property available likewise includes a wide array of exotic trees and hedges. It’s the ideal option for a private property or luxury beachfront advancement. The vacation home programs featured along with the property supply a stable of choices to satisfy every flavor as well as spending plan, coming from open principle styles to stylish master collections total along with exterior day spa showers.
This Koh Samui beach main land offer for sale lies in the popular Choeng Mon region as well as includes straight access to the white sandy beaches and very clear blue waters of Lamai. The property is actually split right into 2 rai as well as has sea viewpoints on both sides of the residential property. It is found near Na Mueang elephant hiking as well as Bang Sao Band waterfall.
The cost of land to buy in Koh Samui differs relying on area as well as dimension. Nonetheless, there are actually some factors to look at when determining your budget plan, featuring servicing fees as well as real estate tax. In add-on, Koh Samui is a remote isle, thus you might need to spend for routine transport costs to and also from the landmass. Taking these aspects right into account may aid you locate the perfect part of haven to call home.
Seaview property up for sale in Value Por, Koh Samui
Found on the west shoreline of Koh Samui, this beachfront land piece is actually perfect for your desire task. Featuring postcard worthwhile panoramas, the beachfront home will certainly offer the best in luxurious lifestyle. This is actually an one-of-a-kind opportunity to develop a heavenly luxurious suite with magnificent perspectives across the Bay of Thailand.
This large sea sight plot in the Santikhiri property is positioned at southerly Koh Samui tropical hillside delivering an excellent view to the Gulf of Thailand. It is a gorgeous secret plan with an assortment of local area trees and also flora and also agrees with for developing a high-end deluxe manor.
The gorgeous isle of Koh Samui is actually home to beautiful beaches, forest gardens, as well as high-end resorts. Along with its emerald coastline and also vibrant culture, the isle has actually become a well-known location for visitors and retired people alike. Over the last few years, the isle has also created surges in the property market. Along with its economical rates and also flourishing economic condition, the island is actually a superb selection for anyone trying to purchase a property.
As Thailand’s building market boomed, foreign property creators made use of a collection of methods to prevent Thai law as well as experience actual estate bonanzas. These approaches consisted of getting large lots of land and also separating them right into much smaller plots up for sale. Moreover, many international clients obtained property directly coming from natives, bypassing the lawful method of obtaining a permit for the home. This is why it is actually essential to interact the services of a professional surveyor and also attorney when getting through procedures for acquiring Koh Samui property. This are going to guarantee that the limits of the home are accurately defined and avoid prospective disputes in the future. It will certainly additionally make sure that utility companies are adequately moved in to the label of the brand-new owner.
Although immigrants are actually not enabled to obtain freehold land in Thailand, they can easily get residences along with straight possession or even with a leasehold framework for up to 30 years. This enables all of them to preserve a long-term way of living on the island and is a risk-free assets choice.
As the demand for high-end vacation homes raised, programmers sought out less popular beachfront land and sloping land near Chaweng. These pieces are more economical than the greater beachfront property, and possess incredible sea perspectives. Nonetheless, it is actually essential to conduct due persistance prior to obtaining Samui land available, as the country uses distinct classifications as well as building/environmental guidelines that represent the type, dimension, and also style of buildings that may be designed on a given tract of land.
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Home auctions are one option for banks and homeowners seeking to sell a home fast and for a fantastic price. While home auctions are often earmarked for foreclosure properties, an auction is also an option for homeowners who have an abnormal or eccentric home to market. Houses that go to auction provide several benefits over traditional sales.
Fair Market Value
One of the biggest advantages of a home going to auction is that the high likelihood it will market for its reasonable market value. This happens when buyers compete to place the winning bid, forcing the cost of a home to the highest price buyers are prepared to pay and the lowest price a seller is prepared to accept. This benefits both sellers and buyers, who can use the auction procedure for a gauge of the home’s value. Sellers do not need to research the fair market value before setting a sale price, and buyers can set their own prices independently without worrying about coming far below, or over, a listed price.
Buyers who wish to bid on a home at a home auction must register with the real estate company overseeing the auction. This allows the real estate company to preapprove buyers according to creditworthiness. When it is time to bid, just preapproved buyers can take part, plus they know beforehand the seller’s reserve price. This guarantees that a buyer will have the ability to earn the purchase and stands as a significant advantage over traditional home sales, where waiting for a buyer to be accepted can take extra time and create a sale to fall through at the last minute.
Auctions are much faster than most traditional home sales. Sellers can schedule a date and know exactly when the home will sell. This can be useful in scheduling a move or making other programs that require financial obligations. The speed of a home auction cuts down on the expense of selling a home, since there’s less work to get a real estate agent to perform by promoting the house, holding open houses and administering showings. Homeowners also save by cutting down on maintenance costs while the home is on the market.
Home auctions offer an option for homeowners who have a home that would be tough to sell or worth on the open marketplace. This is especially true for homes offering some sort of unique feature or unconventional features which may interest a particular group of buyers but be tricky to describe to others. Even for homeowners who wind up selling a home in a more conventional way, auctions offer an option for contrast purposes.
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Create a Website Account - Manage notification subscriptions, save form progress and more.
You should report the gross monthly income before deductions for all working family members. Wages or salaries, commissions, tips, piece-rate payment and cash bonuses earned must be reported. Overtime pay is estimated based on the person’s history of receiving this pay. If you have more than one job, make sure to report gross income from each of your employers. Other income that must be reported includes SSDI, alimony, taxable capital gains, rent income, income from estates, pensions, annuities, and retirement income. Ask a child care representative about any regular income you receive to see if it must be included in your gross monthly income.
Show All Answers
If there is a waiting list, children will be placed from the waiting list as space becomes available.
All clients are required to notify their child care provider any time a child will be absent. The child care provider is required to report to Workforce Solutions Northeast Texas when a child is absent 5 consecutive days. (i.e. Monday - Friday; Wednesday, Thursday, Friday, Monday, Tuesday). The Provider will be paid based on the days of care you are authorized based on schedule and needs. Every time the child care provider reports your child(ren) absent will count against the total number of absences allowed within your 12-month period. Workforce Solutions Northeast Texas will pay the child care provider every other week for your child(ren)'s care. You will be required to pay a portion of your child care cost, called a parent share of cost, to the child care provider.
This assures the provider will reserve a place for your child while he/she is absent. Children are allowed 40 absences within their 12-month eligibility period.
You will be given a 12 month eligibility period. If your experience a permanent loss in work or training or your family income has exceed the 85% SMI, you will need to contact our office within 14 days of the change.
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What is Goldfinch? Goldfinch expands access to capital in emerging markets where crypto can truly empower financial inclusion.
How it works
The protocol works by providing lines of credit to credit companies. These companies use their lines of credit to receive stable coins from the pool and then exchange them for fiat and set them on their local markets. In this way the protocol provides the usefulness of the cryptocurrency — in particular its global access to capital — while leaving the actual providing and servicing of loans to the enterprise that is best available to do in this way.
Our mission is simple. We create a decentralized credit platform that increases access to financial services. We suppose that there is an enormous untouched crediting potential in the world. Nowadays it is expensive to be a bank and this fact reduces the range of available lenders. We create a platform that provides an opportunity for anyone to become a lender.
We have three main stages of our development:
1. Build a “cryptocurrency loan fund” that makes autonomous income sources available and consolidated in DeFi.
2. Decentralize the network so that everyone can suggest or estimate loans, not just the Goldfinch team.
3. Support for smaller and smaller lenders so that everyone can be a lender through the protocol, even individual person
This structure of the Goldfinch project isn’t much difficult but it has a great future.
Why loans without collateral matter
Total borrowing on cryptocurrency networks surpassed $ 4 billion last month, up from less than $ 200 million a year ago. But even this growth dramatically underestimates the true potential of DeFi. This is because all of this lending is overcollateralized. For every $ 1 someone borrows from these networks today, they must first invest ~ $ 1.50 in another asset they already own.
Let’s go over the advantages of the project and the reasons why Goldfinch will be the new gold in the world of DeFi
- Real-world impact
Goldfinch expands access to capital in emerging markets where crypto can truly empower financial inclusion.
- 10K+ borrowers and growing
The protocol is already serving thousands of borrowers across India, Mexico, Nigeria, and Southeast Asia.
- Stable 10%+ yield
High-quality borrowers provide expected 10–14% APY from real-world activity uncorrelated with crypto.
Liquidity Providers supply the capital to the Senior Pool. The protocol automatically allocates the Senior Pool to the senior tranches of Borrower Pools.
Borrowers offer pools (with terms such as interest rate) for the Backers evaluation
Backers supply capital to the junior tranches of Borrower Pools.
Governance is managed by a community DAO and has the ability to perform maintenance functions and parameter adjustments via decentralized governance votes, including: ● Upgrading contracts ● Changing protocol configurations and parameters ● Selecting Unique Entity Check providers ● Setting the rewards and distribution of GFI ● Pausing protocol activity in the event of an emergency.
The Leverage Model determines how much capital the Senior Pool allocates toward each Borrower Pool, based on how much it “trusts” each Borrower Pool. Trust Through Consensus In order to determine how to allocate capital from the Senior Pool, the protocol uses a principle of “trust through consensus.” This means that while the protocol doesn’t trust any individual Backer or Auditor, it does trust the collective actions of many of them. At a high level: when more Backers supply to a given Borrower Pool, the Senior Pool increases the ratio with which it adds leverage. Because this approach relies on counting individual Backers, the protocol must ensure they are in fact represented by different people. Therefore, all Backers, Borrowers, and Auditors require a “unique entity check” to participate (see the Unique Entity Check section).
Phase 1: Credit Fund on Crypto
The current version of the Goldfinch protocol operates like a credit fund, except on crypto. To start, we’re serving as the first underwriter evaluating lending businesses and setting the terms. This takes the critical step of making this real-world source of yield available on chain and composable with the rest of DeFi.
Phase 2: Decentralized Underwriter Network
The protocol will enable anyone to underwrite. Underwriters will be able to assess businesses and stake junior debt capital on them. In return for doing this work, they’ll receive higher yields via commissions from passive senior debt investors. This will allow the protocol to scale the underwriting process and onboard new lending businesses entirely through the community.
Phase 3: Long Tail of Lenders
The protocol will support smaller and smaller lenders who don’t already have loan servicing infrastructure to the point where anyone can make loans, even individuals. The protocol will do this by bringing end-user loans on chain, providing self-serve lender tools, and building upon a vibrant underwriter marketplace.
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If you have heard problematic claims made about my character, please feel free to email me about it (ccrynjohannnsen AT gmail DOT com) and avoid feeding the trolls.
A reader made this incorrect statement today (see the comments):
No 'solutions' are needed as there is no problem. Do not borrow money that you cannot repay. If you do borrow money, pay it back per the agreed loan terms or bear the consequences.
[Note that no change in bankruptcy laws is remotely possible with Republicans in charge of the House of Reps and 60 votes needed to overcome Senate filibusters. That said, those who wish to spin their wheels trying are obviously free to do so.]When I first began researching and writing about the student loan debt crisis, I had readers say this all the time. Frankly, I'm surprised to see it again, because things have (a) gotten so much worse and (b) our hard work is getting noticed by major media outlets (I now write for several of them, including USA Today).
Since I am an educator, I think this reader needs to be educated on the topic. Here's my response:
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|Real Estate Agent
|Real Estate Agent, Mobile Notary Public
|location_on Lawrenceville, GA — Drake Realty, Inc.
|insert_link Solomon Greene, Drake Realty, Inc.
|web Home Buying and Selling Tips, and Homes for Sale
Shop FMLS GA and Georgia Multiple Listing Services for the same homes for sale in Gwinnett County, GA without registering, or calls being recorded. Call real estate agent Solomon Greene to learn how others have completed their house sale transactions, selling their houses as is fast, and often above list price to a cash home buyer who made a cash offer for their home, and hear how their real estate sold for far more than those who sold directly to an investor.
Looking to Buy a House?
Home buyers who work with me as their local real estate buying agent gain insight into the local zero-down mortgage information, the dining, shopping, recreation, and other lifestyle amenities near each of the public schools in Gwinnett County, and more. Want to live near TRADER JOE's, easy transit into Downtown Atlanta, Georgia, or an aquatic center? When you're looking to buy a house in Gwinnett County, GA, apply my knowledge of the area as a long-term associate real estate broker and resident since 2005 in your home search. I'll proudly show you the homes for sale in Buford, Dacula, Duluth, Grayson, Lilburn, and Loganville, GA, and houses for sale in Lawrenceville, and Norcross, GA.
Notary Signing Agent
When the time comes to consider making or selling your home in Gwinnett County, Georgia with greater assurance and privacy, please call Associate Broker of Real Estate, Solomon Greene, to find the ideal lifestyle match, or sell your house as-is fast and get a cash offer for your home.
Meet Solomon Greene, Drake Realty, Inc.
Browse Homes for Sale in Gwinnett County, GA in the Georgia Multiple Listing Services with privacy. Call real estate agent Solomon Greene about a house sale, selling your home as is fast, and more.
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If you have recently been charged with insurance fraud in Illinois, it helps to know the most common types of fraud the Illinois court system handles. In this post, we will detail fraud charges for you and let you know how to get help.
Kinds of Insurance Fraud You Can Be Charged with in Illinois
Insurance companies lose $80 billion every year due to fraudulent insurance claims. That’s why law enforcement officials are looking for those who commit the most common types of insurance fraud. Here’s a list for you.
Vehicle Insurance Fraud
This type of fraud often occurs with vehicle accidents. The owner’s car may have gotten scratched or damaged in an accident. He or she reports the damage to his insurance company and collects the payment but never fixes the vehicle. Another type of fraud is hiding the vehicle and collecting money as if the vehicle was stolen.
Sometimes people will even stage a car accident to commit fraud. Several people may be involved in the fraud, or simply the driver. At other times, insurance adjusters are in on the fraud.
Bottom line? Anyone who reports damage that wasn’t truly an accident or inflates vehicle value could be charged with insurance fraud.
Health Insurance Fraud
Health care providers are sometimes involved in health insurance fraud. They may overbill for a provided service or bill for a service that was never performed. Patients are not necessarily aware of the fraud because it is not reflected in their billing.
Another way health care providers commit fraud is by ordering tests that are not medically necessary. Additional testing is how some health care providers get more money from insurance companies.
Home Insurance Fraud
Staged acts in residences are a typical form of home insurance fraud. An owner may stage an act of vandalism, a water leak, a fire, or other damage to collect insurance payments. Some homeowners list valuable items on their policy, then destroy the items to collect money.
If the owner possesses an abandoned home, arson is a common way to collect insurance payouts. When an owner cannot make payments on a home or cannot find renters, fire is sometimes used as a solution.
Renter’s Insurance Fraud
When people rent, they can purchase renter’s insurance to protect their belongings. Then, when they decide to move, they may sell or destroy their belongings to collect insurance payments.
Natural Disaster Fraud
Natural disasters like major storms create the opportunity for some people to commit insurance fraud. Perhaps the homeowner experienced damage to his or her home, yet inflates the numbers on the claim. He or she may make a false report and take advantage of an insurance company at a time of crisis. Any way this occurs, it may be considered a crime in the state of Illinois.
In rare cases, a person will fake death to allow a beneficiary to collect life insurance benefits. When the beneficiary flees, the insurance company knows they have been defrauded.
Legal Assistance for Illinois Insurance Fraud Charges
A conviction for insurance fraud will result in stiff penalties. That’s why you need an experienced Illinois criminal defense attorney to fight your charges. We will advise you on the best defense to use. With our help, you may be able to get your charges reduced or dropped. Call us today for a free case review.
About the Author
Sami Azhari has been working as a lawyer since 2007, after receiving his Juris Doctor from the Michigan State University College of Law. He has handled numerous state and federal cases, and is known throughout the Chicago and Rolling Meadows area for providing his clients with high-quality, skilled representation. He has been recognized by SuperLawyers, the National Trial Lawyers Association, and other notable organizations, and has spoken at a number of legal conferences.
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What is the difference between Conversion and Portability of Life Insurance?
GU provides all full-time benefit eligible employees with a $30,000 basic group term life insurance policy* at no charge to the employee. If you leave employment, you would have 31 days to convert this policy to a whole life policy**.
If your employment is terminated at GU and you desire to convert the $30,000 basic term life insurance coverage to a whole life policy, you must complete and submit the attached Conversion Application within 31 days of the date of termination. When you convert a term policy to a whole life policy, initially the premium is higher, but will never increase and as long as you are making your payments, the policy cannot be canceled by the carrier. More information on life insurance conversion can be found on the attached Conversion Brochure.
If you are carrying Voluntary Employee Life insurance & AD&D, Voluntary Spousal Life & AD&D and/or Voluntary Child(ren) life insurance through GU that you are personally paying for (by payroll deductions) and your employment terminates, but you would like to continue your voluntary life coverages, you would have two different options available to you. You could convert as described above or choose portability.
Portability is to continue with the policy in its current form (term), knowing that there will be premium increases based on the age banded rates and that the benefit amount will decrease by 35% at age 70 and an additional 15% at age 75. If you choose to port your voluntary life benefits, you need to complete the attached Portability Application within 31 days of employment termination.
*Term Life Insurance - a life insurance policy that is bought for a specific amount of time (10, 15, 20, 25 or 30 years). There premium will reflect a guaranteed amount that will be paid in the event that you die before the policy expires.
**Whole Life Policy - Is the type of life insurance that remains in effect for as long as you life, provided the premiums are kept up to date. In addition to the payout value, whole life policies include a cash value account that can be used by the policyholder even while the insured person is still living.
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A number of our 120+ payday loan head financial institutions handle Personal Coverage and also you normally handicap costs since the a way to obtain reputable month-to-month money. Very most of the time, those who currently pick Societal Protection otherwise disability costs has a good tendency to be considered getting an instant payday loan on the internet.
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This type of money is actually an initial-label, fee-built loan are not dependent on the degree of monthly income already obtained away from have a tendency to disability if you don’t Public Security will cost you. It’s always reduced once you receive your following Personal Safeguards or even impairment percentage.
What’s the First Advantage of a social Security Disability Shell out examine Mortgage?
There are many people in the us that have inadequate if you don’t little money which have been obtaining specific financial help from the regulators. Periodically they assistance is not sufficient to safeguards will set you back, particularly in crisis situations. Public Security and you may disability costs is almost certainly not enough, discover fundamentally an importance of an on-line pay day loan otherwise payday loans. Bringing crisis cash is an important advantageous asset of such funds you to definitely take on disability.
How do i Get a social Safeguards Disability Cash advance?
Quite see our web site simply, just more a standard on the internet resource consult setting and you can observe your bank account is regarding Personal Shelter if not disability costs regarding government. Many loan providers accept this type of earnings bring just like the qualified to receive short-term, unsecured loans.
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Points to https://paydayloansexpert.com/payday-loans-mn/ consider Just before Requesting Brand new Personal Coverage Handicap Shell out day mortgage
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These finance are not for everyone because they render higher commission will set you back, and you can later on payments can result in really costs otherwise penalties. They actually do works if you utilize them responsibly. Remember, only use what you can pay back without causing injury to their credit otherwise funds. Consider carefully your problem very carefully in advance of asking for any pay-day or even temporary money.
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What are Prepaid Expenses?
Prepaid Expenses represent all the payments made for expenses not immediately recognized on the income statement. Common examples of prepaid expenses include prepaid rent, insurance and interest. Prepaid expenses represent cash that has been paid out, as opposed to other current assets, such as receivables, where cash is expected to be received.
What do Prepaid Expenses include?
- Any prepaid expenses arising from ordinary business courses,
- Prepaid insurance;
- Prepaid rent; and
- Prepaid taxes.
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FTX Could Soon Purchase Stake in BlockFi: Report
The deal would follow a $250 million credit line announced earlier this week.
- Crypto exchange FTX is in talks to purchase stake in BlockFi, according to reports from the Wall Street Journal today.
- BlockFi received a $250 million line of credit from FTX earlier this week, suggesting the firm is in need of funding.
- FTX and related companies have made other investments and acquisitions over the past several months.
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The popular crypto exchange FTX could soon purchase a stake in the lending firm BlockFi, according to the Wall Street Journal.
FTX Is in Talks With BlockFi
FTX and BlockFi are reportedly discussing the possibility of the former firm purchasing a stake in the latter.
Insiders suggest that discussions between the two companies are ongoing. No final decision has been reached and the amount of money under discussion has not been disclosed.
BlockFi secured a $250 million line of credit from FTX earlier this week. Zac Prince, CEO of BlockFi, stated that the loan would strengthen the firm’s balance sheet and platform strength.
Despite Prince’s positive spin on the deal, BlockFi’s decision to seek out a loan seems to point to financial issues. Plus, the firm liquidated its position in Three Arrows Capital (3AC) and cut 20% of its workforce this month.
Those events have collectively provoked rumors of low liquidity at BlockFi. As such, FTX’s possible decision to purchase a stake could provide BlockFi with much-needed funding.
FTX Is Investing in Other Firms
Sam Bankman-Fried, founder and CEO of FTX, has taken an interest in a number of other cryptocurrency companies.
Alameda Research, also headed by Bankman-Fried, has acquired a stake in the Canadian crypto brokerage Voyager Digital.
Additionally, Alameda extended a credit line of $200 million in cash and 15,000 BTC to Voyager this month. Those funds seem to be intended to help Voyager recover from a failed deal with Three Arrows Capital (3AC), to which it loaned that amount. Voyager claims that 3AC owed it $667 million.
In other deals this year, Bankman-Fried invested in Robinhood, gaining 7.6% stake for $648.3 million. FTX acquired Bitvo this month, while FTX.US acquired Embed Financial.
FTX appears to be in a strong position. CoinGecko ranks FTX as the second-largest fully trusted exchange, with $2 billion in trading volume over the past 24 hours.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other cryptocurrencies.
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Our motorcycles are tough… Financing them shouldn’t be.
Stick with a company you know and trust. We are the motorcycle experts, so naturally Harley-Davidson Credit finances more Harley-Davidson loans than any other lender. Harley-Davidson Credit offers the most convenient financing program available for your new or used Harley. With just a 10% down payment (and Zero Down even available for some credit tiers) and approved credit, you can arrange financing through Defiance Harley-Davidson in about an hour or less. We even finance bikes purchased from others too, so let us help with making your purchase easy no matter where it’s from!
Our Harley-Davidson loans are flexible, with terms up to 84 months. And, because we ride too, and know you need to protect both yourself and the value of your bike, you can finance Harley-Davidson Insurance’s Motorcycle Insurance, Extended Service Plan, and even Defiance Harley-Davidson’s VIP Maintenance plans along with your loan. We’ll even finance MotorClothes® Apparel, Accessories, Gifts, and Collectibles into your loan. By including these necessary items in your Harley-Davidson Credit loan, you pay only pennies a day.
Talk to us about financing your bike with Harley-Davidson Credit or one of our other financing sources for Harley-Davidson loans, and get out on the road today.
Apply for Credit
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Feeling trapped by your mortgage? Wondering if there’s a way to walk away without causing financial ruin? You’re not alone.
Assessing the financial impact and exploring options for walking away from a mortgage can be daunting, but it’s crucial to make informed decisions.
In this article, we’ll delve into the various factors you need to consider before taking such a step. From understanding the consequences of walking away to exploring alternatives like short sales or voluntary foreclosure, we’ve got you covered on your journey towards liberation and empowerment in dealing with your mortgage situation.
Table Of Contents
- Key Takeaways
- Is Walking Away From a Mortgage the Right Choice?
- Assessing the Financial Impact of Walking Away
- Exploring Options for Walking Away From a Mortgage
- Understanding the Consequences of Walking Away
- The Difference Between Non-Recourse and Recourse Loans
- Factors to Consider Before Walking Away
- Communicating With Your Lender About Walking Away
- Frequently Asked Questions (FAQs)
- What are the potential consequences of walking away from a mortgage?
- How does the type of loan (non-recourse or recourse) affect the lender’s ability to pursue the borrower for remaining debt?
- What factors should be considered before making the decision to walk away from a mortgage?
- Are there alternatives to walking away from a mortgage if facing foreclosure?
- How should borrowers communicate with their lenders when considering walking away from a mortgage?
- Negative impact on credit score
- Potential loss from selling the home
- Possibility of being sued by the lender
- Consider state laws and lender rights
Is Walking Away From a Mortgage the Right Choice?
Deciding whether or not to walk away from a mortgage can be a difficult decision that you, as the homeowner, need to carefully consider. It’s important to understand the potential consequences of walking away and weigh them against your current situation.
One major consideration is the impact on your credit score. Walking away from a mortgage can significantly lower your credit score and make it harder for you to obtain future loans or secure favorable interest rates.
Additionally, recovering lost home value takes time, so you’ll need to assess how long it may take for your property’s value to increase again if you choose not sell at a loss through foreclosure or bankruptcy proceedings.
Before making any decisions, explore alternatives such as loan modifications or seeking assistance from HUD-approved housing counselors who can provide guidance specific to state laws and lender rights in order for you make an informed choice about what’s best for your financial well-being.
Assessing the Financial Impact of Walking Away
When considering walking away from a mortgage, it’s crucial to assess the financial impact.
One important factor to consider is calculating the cost of rent compared to the cost of your current mortgage payment.
Additionally, determining how long it will take for your home’s value to recover can help you make an informed decision.
By carefully evaluating these aspects, you can better understand the potential financial consequences of walking away from your mortgage.
Calculating the Cost of Rent Vs. Mortgage
To assess the financial impact of walking away from a mortgage, calculate the cost of renting compared to your current mortgage payment.
Consider factors such as:
- Closing costs vs. moving costs
- Rent vs. mortgage payment
- Lost home value vs. rent increase
Additionally, take into account the time it would take to recover lost home value if you choose to walk away from your mortgage.
Understanding these calculations is crucial in making an informed decision about walking away from a mortgage loan.
Determining the Time to Recover Lost Home Value
To determine the time it will take for your home to recover its lost value, you need to consider various factors and make informed calculations.
Take into account:
- Regional home value trends
- The impact of inflation
- Rising interest rates
- Past housing market crashes
Additionally, assess how personal financial circumstances may affect the recovery timeline. By analyzing these elements carefully, you can gain a clearer understanding of when your property’s value may rebound.
|Regional Home Value Trends
|Reflects local real estate market conditions
|Impact of Inflation
|Can increase or decrease property values over time
|Impact of Rising Interest Rates
|May negatively influence buyer demand and affordability
Exploring Options for Walking Away From a Mortgage
When considering walking away from a mortgage, you have several options to explore.
One option is a short sale, where the property is sold for less than the amount due on the mortgage and proceeds go to the lender.
Another option is voluntary foreclosure, where you willingly turn over your property to the lender and no longer need to make mortgage payments.
The final option is involuntary foreclosure initiated by the lender for non-payment, resulting in eviction from your home.
Each of these options has its own implications and consequences that should be carefully considered before making a decision.
Now let’s explore a potential option for walking away from your mortgage: have you considered a short sale?
A short sale occurs when you sell your property for less than the amount due on the mortgage. The net proceeds from the sale go to the lender, and they may forgive or pursue payment of the difference.
Keep in mind that not all lenders agree to a short sale, but if they do, it can provide an alternative to foreclosure.
If you’re considering walking away from your mortgage, another option to explore is voluntary foreclosure.
While it will have a negative impact on your credit score, you won’t be required to make any additional payments on the mortgage.
However, before making this decision, it’s important to understand state laws and lender rights, as well as consider alternatives such as reverse mortgages or cash-out refinancing.
Timing of the decision and legal implications should also be carefully considered.
If you find yourself unable to make your mortgage payments and facing the possibility of involuntary foreclosure, it’s important to understand your options for walking away from a mortgage.
Involuntary foreclosure occurs when the lender initiates legal proceedings due to non-payment. The impact on your credit score can be significant, and state laws may influence the process.
It’s crucial to consider alternatives before resorting to involuntary foreclosure, such as a short sale or voluntary foreclosure. Understanding the rights of lenders is key in navigating this challenging situation.
Understanding the Consequences of Walking Away
If you choose to walk away from a mortgage, it’s important to understand the consequences.
Walking away will have a negative impact on your credit score and could make you ineligible for federal PLUS loans for up to five years.
Additionally, if your home sells for less than the amount owed on the mortgage, you may be responsible for paying the difference.
Finally, there’s also a possibility of being sued by the lender in order to recover the money owed.
Credit Score Impact
How does walking away from a mortgage impact your credit score?
Walking away from a mortgage can have severe consequences for your credit score.
A default on your mortgage will stay on your credit report for up to seven years, negatively affecting future credit scores and making it difficult to obtain other loans.
Additionally, the impact on your ability to rent may hinder finding suitable housing options.
It’s crucial to consider the long-lasting effects before making this decision.
Eligibility for Federal PLUS Loans
You may lose your eligibility for federal PLUS loans if you walk away from a mortgage.
- Time Frame for Eligibility: If you default on your mortgage, it can impact your eligibility for federal PLUS loans for the next five years.
- Impact on Other Federal Loans: Walking away from a mortgage can also affect other federal loans that you may be eligible for, potentially limiting your access to financial assistance.
- Impact on Future Homeownership: Walking away from a mortgage could make it more difficult to qualify for future home purchases due to the negative impact on credit and potential loss of assets.
Potential Loss From Selling the Home
Selling your home after walking away from a mortgage can result in a potential loss of funds.
The impact of walking away includes:
- The time it takes to recover lost value
- Tax implications
- Credit score consequences
After walking away, you have options such as:
- Short sales
- Voluntary foreclosure
However, it’s important to be aware of the legal ramifications and potential financial repercussions before making any decisions regarding your mortgage.
Possibility of Being Sued by the Lender
If you walk away from your mortgage, there’s a possibility that the lender may sue you to recover the money owed.
The lender may pursue legal action against you and seek judgment for the outstanding debt.
- Wage garnishment
- Collection agencies coming after your assets
It’s crucial to consider all aspects before making any decisions, including consulting with professionals about bankruptcy and understanding tax implications related to walking away from a mortgage loan.
- Statute of limitations
- Collection agencies
- Wage garnishment
- Tax implications
The Difference Between Non-Recourse and Recourse Loans
When considering the consequences of walking away from a mortgage, it’s important to understand the difference between non-recourse and recourse loans.
Here are some key points to consider:
- Non-recourse states: Some states allow non-recourse loans, meaning that if you walk away from your mortgage, the lender can’t come after you for any remaining debt.
- Recourse states: Other states allow recourse loans, which means that if you walk away from your mortgage, the lender can pursue both the property and yourself for any outstanding debt.
- Difference between non-recourse and recourse states: The main distinction lies in whether or not lenders have legal rights to collect on remaining debts after foreclosure.
-Consequences of walking away from a non-recourse loan: If you’re in a state that allows non-recourse loans and choose to walk away, you may be able to avoid personal liability for any deficiency balance but could still face credit score damage.
-Consequences of walking way form a recourse loan : In contrast , choosing defaulting ona recouse loancould result not onlyincreditt score harmbut also potential legal actionsfromthelenderto recovertheoutstandingdebt.
Understanding these differences will help inform your decision-making process when evaluating whether or not walking away is right for your specific situation.
Factors to Consider Before Walking Away
Before making the decision to walk away from your mortgage, there are several factors you should carefully consider.
First, familiarize yourself with the state laws and lender rights in your location as they can vary significantly.
Additionally, determine whether your loan is a non-recourse or recourse loan, as this will have implications for potential legal actions by the lender.
Next, assess your personal financial situation and explore alternatives such as loan modifications or refinancing before resorting to walking away.
Finally, evaluate the future value of your home and weigh it against current market conditions to make an informed decision about whether walking away is financially viable in the long run.
State Laws and Lender Rights
Consider the state laws and lender rights before making a decision about walking away from your mortgage.
It’s crucial to understand the consequences of not paying and the legal ramifications involved. State laws vary, so it’s important to know your rights as well as your lender’s rights in order to make an informed choice.
Understanding state laws can help you navigate potential liabilities and protect yourself throughout this process of liberation.
Type of Loan (Non-Recourse Vs. Recourse)
Before deciding to walk away from your mortgage, it’s crucial to understand the type of loan you have and whether it falls under non-recourse or recourse.
Non-recourse loans only allow the lender to go after the property used as collateral, while recourse loans give them the ability to pursue both the property and borrower for any remaining debt.
Knowing this distinction is essential in considering state laws, lender rights, consequences on credit score, and available alternatives such as loan modification or options like short sale, deed in lieu of foreclosure.
Personal Financial Situation
Assess your own personal financial situation before making a decision about walking away from your mortgage.
Consider the potential financial impact, such as damage to your credit score and eligibility for loans.
Explore alternatives like loan modifications or refinancing.
Evaluate the current value of your home and its future prospects.
Take into account state laws and lender rights that may affect the process.
If needed, seek legal advice from a real estate lawyer to better understand your options in this complex situation.
Future Home Value
If you’re contemplating walking away from your mortgage, it’s important to take into account the potential future value of your home.
- Time to recover lost value: Evaluate how long it may take for the housing market to rebound and for your property’s value to increase.
- Impact of inflation: Assess how inflation rates can affect the future worth of your home.
- Impact of interest rates: Understand how fluctuations in interest rates can impact the overall housing market and potentially influence the appreciation or depreciation of your property.
- Impact of recession/job loss: Recognize that economic downturns or job losses can have an adverse effect on both individual properties and real estate markets as a whole.
Communicating With Your Lender About Walking Away
When considering walking away from a mortgage, it’s crucial to seek legal advice from a real estate attorney who specializes in this area.
They can provide guidance on your rights and options, as well as represent you in negotiations with your lender.
It’s also important to share your mortgage contracts with the lender during these discussions so that they understand your rights and obligations.
Finally, be prepared to negotiate alternatives to foreclosure with your lender, as they may be willing to work out a solution that doesn’t involve walking away from the mortgage.
Seeking Legal Advice
When considering walking away from your mortgage, it’s crucial to seek legal advice before communicating with your lender.
Consulting with a real estate attorney or mortgage default advisor can provide you with valuable insights into the pros and cons of seeking legal advice. They can help you understand the cost of legal advice and guide you through finding a lawyer who specializes in handling mortgage-related matters.
Not getting proper legal advice could expose you to potential risks, making it essential to weigh the benefits of seeking professional guidance.
Sharing Mortgage Contracts
Before discussing your options with your lender about walking away from a mortgage, it’s important to share your mortgage contracts.
By sharing these contracts, you ensure that both parties are aware of their rights and obligations. This communication is crucial in understanding the legal consequences and potential impact on future home value.
It also allows for an open dialogue where homeowner rights can be protected while addressing any concerns or questions regarding the process of walking away from a mortgage loan.
Negotiating Alternatives to Foreclosure
When negotiating alternatives to foreclosure, it’s important to communicate with your lender about walking away from your mortgage.
Discussing options such as a short sale or deed in lieu can help you navigate the process and understand the costs involved.
Timing is crucial when considering a short sale, so be sure to discuss this aspect with your lender as well.
Effective negotiation strategies and understanding the legal implications are key factors in exploring alternatives to foreclosure.
Frequently Asked Questions (FAQs)
What are the potential consequences of walking away from a mortgage?
Walking away from a mortgage can have serious consequences.
Your credit score will be negatively impacted, making it harder to secure loans in the future.
You may also face legal action and the possibility of having to sell your home at a loss.
How does the type of loan (non-recourse or recourse) affect the lender’s ability to pursue the borrower for remaining debt?
When it comes to walking away from a mortgage, the type of loan you have matters.
With a non-recourse loan, the lender can only go after the property used as collateral.
But with a recourse loan, they can pursue both the property and borrower for remaining debt.
What factors should be considered before making the decision to walk away from a mortgage?
Before walking away from a mortgage, consider factors such as:
- The state you live in.
- The type of loan (non-recourse or recourse).
- Your financial situation.
- The future home value.
Seek advice from professionals to make an informed decision.
Are there alternatives to walking away from a mortgage if facing foreclosure?
If facing foreclosure, alternatives to walking away from a mortgage include:
- Selling the house for less than the loan balance (short sale)
- Signing a deed in lieu of foreclosure
- Filing for bankruptcy
Seek professional guidance before making any decisions.
How should borrowers communicate with their lenders when considering walking away from a mortgage?
When considering walking away from a mortgage, communicate with your lender by consulting a real estate attorney who can represent you in negotiations. Show them your mortgage contracts and be prepared to negotiate for the best possible solution.
In your quest for liberation from your mortgage, it’s crucial to assess the financial impact and explore your options before walking away.
Understanding the difference between non-recourse and recourse loans, as well as communicating with your lender, can also make a difference.
Make informed decisions and seek professional advice to navigate this challenging situation.
Consider factors like:
- The cost of rent versus your mortgage
- The time it takes to recover lost home value
- The consequences of walking away, such as credit score impact and potential lawsuits
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The State Bank of Pakistan (SBP) has announced an incentive policy for business to prevent excessive layoffs during this period of lockdown. According to experts layoffs at this time will not only increase unemployment substantially but will also prevent industries and companies to perform at their maximum capacity after the lockdown is over.
According to the scheme offered by SBP borrowers that are on the active taxpayers list, will be able to get loans at a further reduced mark-up rate of 4 percent. SBP will provide refinance to Participating Financial Institutions (PFIs) at service charges of 1 percent per annum for financing to SME clients, allowing PFIs to charge maximum spread of 4 percent per annum. For financing to corporate and commercial borrowers, SBP will provide refinance to PFIs at service charges of 2 percent per annum, allowing PFIs to charge maximum spread of 3 percent per annum.
The borrowers that are on active taxpayers’ list under the Income Tax Ordinance, 2001 would be eligible for 1 percent per annum and will get financing at 4 percent. The subsidy on their mark-up rate will be deducted from SBP’s rate of refinance/ service charges.
This scheme is more focused on small businesses because companies with a 3 month wage and salary expense of up to Rs. 200 million will be able to avail the full amount (100 percent) of their expense in financing while those with a 3 month wage. Businesses with salary expanses more than Rs. 200 million and less than or equal to Rs. 500 million can get Rs. 200 million or 75 percent of 3 months wage bill, whichever is higher.
In addition, salary expense of greater than Rs. 500 million will be able to avail up to 50 or Rs. 375 million of actual 3 months wage bill, whichever is higher.
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Loans are mostly used to get a property or to find a personal loan next to the cost of an active house you witout a doubt individual. The repayments of your mortgage loan ranges coming from a handful of hundred dollars to thousands of dollars. The expression of the bank loan is generally determined as being a fixed percentage of the current market price of your residence, which is an important physique to take into account ought to risk-free or lend. Your financial institution will most likely be ready to provide the required proof about your earnings plus your personal conditions. If you can to show them with a credit ratings referrals that will be included in examining the application for home loan capital.
Your house loan will remove the exceptional home loan sense of balance as well as give you a cash quantity useful for any functions which you need, it can also help. A mortgage loan is just not guaranteed by anything at all besides your house so you don’t need to to rely on a homeowner’s personal assets to protected the credit. As long as the payments are created promptly and for at least the lowest quantity arranged in the promissory be aware, the mortgage will continue up until the 100 % volume of the mortgage may be paid back. If you gets behind while in the expenses, you might lose the house.
There’s 2 types of mortgage offered a set fee home finance loan with an adjustable rate mortgage. While using the ex-, the interest rate amount does not transform through your loan. With all the latter, your loan provider will alter a persons vision rate in accordance with the Standard bank of England platform rate in addition 1Per cent. These mortgages these are known as ‘registry’ mortgage loans as they are given by using a approach called underwriting.
Mortgages may be at a classic mortgage lender or possibly a government sponsored mortgage lender. Most classic lenders have administration guaranteed finance programs and the majority authorities reinforced creditors offer federal government bank loan limits. In regards to the private computer market, there are numerous of countless resources including industrial financial institutions, credit unions and person loan merchants. There are also home loan companies that actually work only with those.
The two forms of house loans to contemplate. You are a association bank loan, which lets you take advantage of decrease interest levels while you improve your credit rating. To meet the criteria, you should provide bank that has a convincing loan application. The second choices to obtain a home financing refinance, in places you refinance your personal home loan in a new financial loan. Both of these option is which is available from a number of loan merchants.
Your loan payment will be determined in line with the way of funding you choose. Private, for-sales non commercial mortgage loans are typically the least expensive approach to capital. The provider makes sense the key as well as the money expense of the house. The home owner then gets a loan to pay off the home loan. Also known as “flying loans” permit you to select how a lot you intend to lend and at what rate, this kind of mortgage will keep your repayments down mainly because the level of principal paid out is below a persons vision compensated.
Set price mortgage loans. You are unable to get a loan more rapidly than you find feesable to repay. Such type of mortgage is oftentimes generally known as “constructor” loans due to the fact interest rates are ordinarily below the interest rate amount on regular mortgages. You have to keep in mind that you have some drawbacks to flying fee home loans. Specially, the borrower can’t access more cash before 100 % equilibrium of your awareness about the household may be reimbursed.
A final variety of mortgage is actually a shut-end loan, or even a conventional financial loan. A shut conclusion financial loan indicates you’ve opted to trade the house, vacate, and never cash home finance loan. Your high closing costs derived from the volume of mortgage loan you obtained in addition to the estimated value increased by the sum you prefer to shell out on a monthly basis. If you want to advertise the house, your bank pays off a exceptional loan amount as well as any essential settlement costs. These expenses include, attorney’s fees, household inspection charges and banker’s percentage.
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Apply for Buy on Trust: Fast, Flexible Leasing
Discover how to apply for Buy on Trust and streamline your tech leasing with instant approval and flexible payment options. Experience easy processing and access to a vast range of top brands.
Step into the future of electronics leasing with swift approvals and adaptable plans
Do you want to learn how you can apply for Buy on Trust? It’s straightforward and caters to a diverse audience. Discover the ease of the application process right here.
Curious about the details? Continue reading our comprehensive guide to understand the simple steps for a full application and take advantage of this opportunity.
Firstly, to apply for Buy on Trust, visit their official website. Start by entering basic personal information like your name, address, email, and phone number.
Next, you’ll need to verify your mobile number. After submitting your initial details, you’ll receive a text message with a confirmation link for verification.
Following mobile verification, the next step involves financial details. You’ll be required to input your social security number and provide proof of income.
Subsequently, ensure your checking account meets its criteria. It should be active for at least 90 days with no excessive overdrafts or negative balances.
Finally, once all information is reviewed and approved, you’ll receive a credit decision. If approved, you can immediately start shopping with your credit line.
You will be redirected to another website
What are the requirements?
- Initially, provide your name, address, email, and phone number on their website.
- Next, verify your identity through a text message confirmation link.
- Then, enter your social security number for financial verification.
- Also, submit proof of consistent income for at least three months.
- Ensure your checking account has been active for 90 days minimum.
- Lastly, confirm your account is free from excessive overdrafts or negative balances.
Apply on the app
While Buy on Trust doesn’t offer a dedicated mobile app, this isn’t a barrier to applying. It’s important to note that their platform isn’t confined to traditional desktop access.
Instead, the Buy on Trust website is fully mobile-responsive. This means you can easily apply using your smartphone or tablet, enjoying the same functionality as on a computer.
Therefore, the absence of an app doesn’t hinder your ability to apply. With their mobile-optimized site, applying for Buy on Trust remains convenient and accessible.
Compare Buy on Trust to other options: Electro Finance
Buy on Trust seamlessly blends quick approval and a rich selection of brands for your tech leasing needs. Its services are an ideal choice to try before you buy.
Meanwhile, Electro Finance offers an alternative path, providing a wide range of electronics with adaptable lease terms to suit different preferences.
Additionally, Electro Finance distinguishes itself with user-friendly leasing, flexible payment options, and a no-impact approach to your credit score, ensuring a stress-free experience.
|Buy on Trust
|Not specified, as this is not a traditional loan service.
|Not applicable as this is a lease-to-own program, not a traditional loan.
|To lease electronics and home goods with an option to own.
|To lease and eventually purchase electronic devices.
|Offers up to $5,000 in credit for leasing products.
|Credit limits up to $5,000 for leasing electronics.
|No credit history required; suitable for poor, limited, or no credit applicants.
|Available to various credit types, including those with bad credit.
|A small initial payment ($50) is required.
|Information on this is not explicitly provided.
|Details on late fees are not prominently specified.
|Specific late fee details are not clearly outlined.
|Early Payoff Penalty
|Option to pay off within 90 days with a $10 fee, otherwise no specific early payoff penalty noted.
|No penalty for early payoff, but availability varies by state.
Lastly, to explore Electro Finance further and understand their application process, follow the link below. Step into a simplified world of technology leasing tailored just for you.
Apply for Electro Finance: Swift Access to Tech
Learn how to apply for Electro Finance for instant electronic access and same-day pickup at Best Buy, simplifying your tech purchases.Keep Reading
Upstart Loan review: Up to $50,000!
Are you looking for a loan of up to $50,000 with competitive rates and good terms? If so, you can read our Upstart Loan review to learn more!Keep Reading
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When it comes to managing finances and achieving our goals, loans have become an integral part of our lives. They provide us with the necessary funds to fulfill our dreams, whether it’s buying a home, starting a business, or pursuing higher education. However, not all loans are created equal. In this article, we’ll delve into the concept of a what is a contingent loan, exploring what it is, how it works, and its advantages and disadvantages.
Defining Contingent Loans
A contingent loan is a type of financing arrangement in which the borrower must fulfill specific conditions or meet certain requirements for the loan to be fully executed. Unlike traditional loans, which are granted based on creditworthiness and collateral, contingent loans are conditional, meaning that the loan becomes binding only when certain predetermined events occur.
How Contingent Loans Work
When a borrower applies for a contingent loan, the lender outlines the conditions that need to be met for the loan to be approved and funded. These conditions act as safeguards for the lender, ensuring that the risk associated with the loan is minimized. Once the contingency is met, the loan is activated, and the borrower gains access to the funds. If the contingency is not met within the specified timeframe, the loan may be denied or canceled.
Key Features of Contingent Loans
3.1. The Contingency Clause
The contingency clause is the heart of a contingent loan. It specifies the conditions that must be satisfied before the loan becomes effective. These conditions can vary widely, depending on the purpose of the loan. For example, in a real estate transaction, the contingency may be the successful completion of a home inspection.
3.2. Collateral Requirements
While contingent loans are based on meeting specific conditions, lenders may still require collateral as an additional form of security. Collateral can be an asset or property that the lender can claim in case the borrower defaults on the loan.
Pros and Cons of Contingent Loans
4.1. Advantages of Contingent Loans
- Lower Initial Risk: For borrowers, contingent loans offer a lower initial risk as they are not fully bound until the contingency is met.
- Flexibility: Contingent loans can be more flexible than traditional loans, accommodating unique situations and needs.
- Opportunity for High-Reward Ventures: Contingent loans enable borrowers to pursue high-reward ventures with reduced upfront financial commitment.
4.2. Disadvantages of Contingent Loans
- Limited Availability: Contingent loans might not be widely available, as not all lenders offer them.
- Stricter Qualification Criteria: The conditions set by lenders for contingent loans can be stringent, making it more challenging to qualify.
- Potential Delays: The fulfillment of the contingency might lead to delays in accessing the funds, affecting the borrower’s plans.
Contingent Loans vs. Traditional Loans
5.1. Differences in Risk Assessment
Traditional loans rely heavily on the borrower’s credit score and financial history, while contingent loans emphasize the assessment of the contingent event’s likelihood.
5.2. Flexibility in Repayment
Traditional loans typically have fixed repayment schedules, while contingent loans may offer more flexible terms once the contingency is met.
Common Uses of Contingent Loans
6.1. Real Estate Transactions
Contingent loans are commonly used in real estate, especially in home buying. Buyers may include a contingency clause that allows them to back out of the deal if certain conditions, such as a failed home inspection, are not met.
6.2. Mergers and Acquisitions
In the business world, contingent loans play a crucial role in mergers and acquisitions. A buyer might use a contingent loan to finance the acquisition of another company, contingent on specific performance metrics being met.
How to Apply for a Contingent Loan
Applying for a contingent loan follows a similar process to traditional loans. It involves submitting an application, providing necessary documentation, and waiting for the lender’s decision. However, pay close attention to the contingency clause and ensure you fully understand the requirements.
Tips for Choosing the Right Lender
8.1. Research and Compare Lenders
Take the time to research and compare different lenders offering contingent loans. Look for reputable institutions with a history of providing transparent loan terms.
8.2. Review Customer Feedback
Read reviews and feedback from other borrowers who have dealt with the lenders you are considering. Their experiences can provide valuable insights. Read more…
What is a Contingent loan present a unique financing option for individuals and businesses seeking flexibility and reduced initial risk. They allow borrowers to pursue ambitious goals while offering lenders added protection. However, with this unique opportunity comes the responsibility of carefully assessing the contingent conditions and understanding the potential impacts on one’s financial situation.
Frequently Asked Questions (FAQs)
9.1. What happens if the contingency is not met?
If the contingency is not met within the specified timeframe, the loan may be denied or canceled, and the borrower will not gain access to the funds.
9.2. Can anyone apply for a contingent loan?
While anyone can apply, contingent loans often have stricter qualification criteria due to their conditional nature.
9.3. How long does the approval process take?
The approval process for contingent loans can vary depending on the lender and the complexity of the contingency. It may take longer than traditional loan approvals.
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Achieving Financial Security with a RIF Account
Let's talk about opening a RIF Account
Grow Your Retirement Savings With a RIF Account
Unlock Your Retirement Potential With a RIF Account
RIF accounts offer a unique combination of flexibility and security that makes them an attractive option for planning your retirement. With a RIF, you can choose from a variety of investments and customize the account to meet your specific needs. You’ll also be able to take advantage of tax-deferred growth, which allows you to keep more of your hard-earned money in your pocket. In addition, with a RIF account, you’ll have access to regular income payments that can help you manage your expenses during retirement. By investing in a RIF account, you’ll be able to enjoy greater financial stability and flexibility during your retirement years.
A Registered Retirement Income Fund (RIF) account is an effective way to maximize your retirement savings and secure your financial future. With a RIF, you can benefit from the flexibility of withdrawing money from the account on a regular basis while still taking advantage of tax-sheltered growth. Unlike other retirement accounts, you don’t have to wait until you reach a certain age to access your money – you can start using it when you need it, while still enjoying the benefits of long-term growth. Furthermore, a RIF account can provide you with steady income during your retirement years and allow you to enjoy more financial security. Investing in a RIF account allows you to take advantage of all the benefits that come with saving for your retirement while also giving you peace of mind knowing that you have the resources to support yourself later in life.
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Harley Davidson Finance Online
Through the Harley-Davidson Rider-to-Rider Financing Program financing is available to qualified individuals who are buying a used motorcycle from a private party.
Harley davidson finance online. Saved Bikes 2900 Research Way - Carson City NV 89706. Financing Offer available only on new HarleyDavidson motorcycles financed through Eaglemark Savings Bank ESB and is subject to credit approval. If youve decided you want to finance your new motorcycle youre not alone.
Excess mileage is charged at 6p per mile VAT. Complete the simple and secure online finance application to get pre-approved. Any finance required for a new deal is subject to status available only to UK residents over the age of 18.
With a minimum down payment and approved credit you can arrange Harley-Davidson Credit financing with us and get out on the road a few hours after picking out your new or pre-owned model. Or go directly to the Payments page to begin managing your account online and making sure your payments post on time every time. However your dealer may be able to assist you.
759 Rate offer is available only to high credit tier customers at HDFSC who also purchase the Harley-Davidson Extended Service Plan and only for up to an 84 month term. Looking to finance your new Harley-Davidson motorcycle or used motorcycle. Stinger Harley-Davidson can help you obtain financing and give you peace of mind knowing Harley-Davidson experts are involved in your sale.
The Finance team at Battle Born Harley-Davidson is happy to help. We offer financing through our online application with finance professionals on staff to provide the most affordable payment plans. Motorcycle loan financing is available with credit from Harley-Davidson financing as well as other lenders at Moonshine Harley-Davidson in Franklin TN.
Credit is subject to status and is only available to UK residents aged 18 and over. Harley-Davidson Financing. We have many finance offers for all types of buyers and riders.
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Our 2024 Review on ScotiaBank's Critical Illness Insurance
Critical illness insurance in Canada provides a crucial financial safety net, offering a lump-sum payment should you be diagnosed with serious illnesses. It makes sure your medical costs, income loss, and the lifestyle of you and your family are supported during difficult times.
If you don't have a critical illness insurance policy yet or are looking to change your existing plan, Scotiabank critical illness insurance could be an option to consider. But what does it cover? What are its pros, cons, and costs? Most importantly, is it right for you? Read on to find out!
You can also use our free comparator to compare the best critical illness insurance plans in Canada and get free personalized quotes so you can truly decide if Scotiabank critical illness insurance is the best for you, or if there's another provider that fits you better.
Scotiabank critical illness insurance: Key takeaways
- Reputable Provider: Backed by Scotiabank, a trusted financial services company.
- Online Application: Convenient application process with an online option.
- Simplified Coverage: Easy-to-understand critical illness insurance with affordable rates.
- Coverage until 70: Extended coverage age limit for added protection.
- No Medical Exam: Streamlined application process without the need for a medical exam.
Our 2024 review of Scotiabank critical illness insurance
Scotiabank's critical illness insurance called ScotiaLife® Critical Illness Insurance stands out for its association with a top financial services company. The online application process, simplicity of coverage, and affordable rates make it an attractive option. However, it's exclusively available to Scotiabank customers and their spouses, limiting accessibility.
With a maximum coverage of $100,000, it may be more suitable for those seeking basic coverage. While details are somewhat limited online, Scotiabank's offering caters to accessibility, making it suitable for those prioritizing ease of application and coverage until the age of 70.
If you're a Scotiabank customer or someone looking for good critical illness insurance and want to explore critical illness insurance plans in Canada, you can do right here using our free comparator below. Compare multiple plans and get free personalized quotes in no time.
Find a critical illness insurance policy that's right for you
Pros of Scotialife critical illness insurance
- Reputation - one of Canada's top financial services companies
- Online application
- Offer is simple and easy-to-understand
- Affordable rates
- Coverage until 70
- No medical exam
Cons of Scotialife critical illness insurance
- Only for Scotiabank customers and their spouses
- Coverage maximum of $100,000, lower than many competitors
- Limited offers
- Sparse details available online
ScotiaLife Financial is a subsidiary of one of Canada’s top banks, Scotiabank (the Bank of Nova Scotia). The bank is two centuries old having been founded in 1832. They provide insurance products to individuals including auto insurance, home insurance, life insurance, health insurance, travel insurance, and mortgage protection insurance.
Scotia Life Insurance Company underwrites the group’s insurance offers. This article takes a look at Scotiabank's policy called ScotiaLife critical illness insurance.
Why sign up for ScotiaLife critical illness insurance?
Is critical illness insurance worth it? Critical illness insurance from Scotialife or another provider gives you a powerful financial safety net should you contract a critical illness or condition. A serious diagnosis is likely to affect your ability to work while engendering serious expenses. These include:
- Medical costs and specialists not covered under a different policy
- Transportation to see specialists
- Chair lifts or ramps at home
- Therapy and counseling
- Retrofitting vehicles for accessibility
Besides these additional costs, you still need a plan for continuing to pay your rent or mortgage, child care, groceries, and other day-to-day living expenses. The flexibility of the large lump-sum benefit from critical illness insurance means that you'll have the ability to cover these bills as you see fit. You can take care of yourself and your family while focusing on recovery.
What does Scotiabank critical illness insurance offer?
ScotiaLife Financial offers a single critical illness insurance plan for Scotiabank customers. Coverage is available for up to $100,000 and no medical exam is required. Customers ages 18-64 are eligible. It covers heart attack, cancer, and stroke.
Note that Scotiabank offers Scotia Mortgage Protection Insurance. While this is a different product it is noteworthy to include here. Borrowers and guarantors of Scotiabank mortgages can apply for the products, which can offer up to $500,000 towards your mortgage balance. Besides critical illness coverage, it also includes life, disability, and job loss protection.
For more on Scotialife 's critical illness insurance offer see the pdf below.
You must compare multiple critical illness providers before zeroing in on a policy. While it may seem like a daunting process, you can do it right here using our free comparator below. Compare the best plans and get free personalized quotes in seconds by clicking the button below.
Find a critical illness insurance policy that's right for you
What illnesses and conditions qualify for Scotialife critical illness insurance?
The following illnesses and conditions may qualify a Scotialife policyholder for critical illness benefits.
- Heart attack
- Stroke (Cerebrovascular accident)
- Cancer (Life-threatening)
Good to know
Different insurers have different criteria for determining the severity of an illness or condition and whether it qualifies. If you have questions, it's best to refer to the policy documents and speak with your insurance broker or Scotialife advisor.
How much does ScotiaLife critical illness insurance cost?
Unfortunately, it is difficult to provide an accurate price for Scotialife critical illness Insurance as these policies are highly dependent on individual situations. Pricing varies widely based on the following factors:
- Pre-existing conditions
- General Health
- Smoking status
- The amount of coverage desired
For general information, the table below summarizes the average price of critical illness insurance for various ages with a $ 25,000 benefit for the average provider. This is meant solely to provide a rough indication. Speak with an advisor for an exact Scotialife critical illness insurance quote.
|Price per month
|51 to 55
|56 to 60
|61 to 65
Good to know
Need help to decide how much coverage to buy from ScotiaLife? Our critical illness insurance calculator can help you make an informed decision.
We recommend that you get personalized quotes to plan your finances better. You can do that using our free comparator in the next section.
How do I apply for Scotialife critical illness insurance?
To apply for the ScotiaLife critical illness apply online on their website to apply online. Alternatively, you may reach them at 1-866-292-3512.
Before settling on an offer with ScotiaLife, it's smart to compare critical illness insurance quotes from other providers. You can do this right here using our free comparator. Compare the best plans in Canada, get free quotes, and be put in contact with an expert.
Shop critical illness policies now
How do I contact Scotialife critical illness insurance?
You can reach ScotiaLife at 1-866-292-3512 from 8:30 am to 7:00 pm ET Mondays through Fridays.
If you wish to mail in a paper ScotiaLife Critical Illness Insurance Application (available on ScotiaLife's website, you may do so to PO Box 215, Stn Waterloo, Waterloo ON, N2J 3Z9.
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Buried within the gargantuan Inflation Reduction Act is a long-in-the-making climate policy poised to supercharge the green banks’ ability to support the US ambitious climate goals while making the energy transition more inclusive.
The bill’s landmark $369 billion climate and energy spending package entails the Greenhouse Gas Reduction Fund providing $27 billion for the Environmental Protection Agency (EPA) to kick-start projects aimed at lowering the country’s greenhouse gas emissions.
To date, it represents the largest green lending program ever addressed to public-private investments. With the majority of the funds – roughly $20 billion – the EPA is expected to seed a national green bank within a few months.
The national green bank will partner with the private sector and community lenders to invest in clean energy technologies and energy efficiency improvements.
The bank could ultimately distribute the money to the existing regional and state green banks and other organizations, such as community development finance institutions and minority depository institutions (banks and credit unions that are either owned or directed primarily by members of certain minority groups) that strive for the development of disadvantaged communities but rarely cross paths with the ordinary energy finance channels.
Representing great progress in the government’s role in confronting the climate crisis, the fund could produce massive opportunities for innovative businesses and stimulate domestic clean energy supply chains while evening out the benefits of a sustainable transition across the whole population.
Why it is a big deal
Much of the Greenhouse Gas Reduction Fund will be dedicated to installing solar panels, heat pumps and other clean energy infrastructure, and to kick-starting building retrofits and sustainable mobility projects in communities that ordinary finance disregards: outskirts, low-income and disadvantaged neighbourhoods.
Such types of interventions can greatly contribute to reducing greenhouse gas emissions and distributing the economic benefits of renewables, yet private investors are generally dissuaded by high credit risk and long payback time.
Besides, some projects such as community solar typically lack the size to generate economies of scale. Hence those can be seen as unattractive even though they are critically important to ensure an inclusive transition, unlock huge savings through higher energy efficiency in the buildings sector, and ultimately maximize the chances of reaching the climate and energy security goals.
Truly, given that emissions can’t be confined someplace, these objectives are only possible if everyone makes the transition, everywhere.
Green banks’ financial model of leveraging limited public resources to attract private investors for clean energy projects is conceived to lend where others don’t, increasing access to funding for communities left behind.
Related articles: How the World Could Save $12 Trillion by 2050 | Earth is Dying: UN Chief Accuses World Leaders of Zero Action | Three Bills Provide US With $500 Billion in Climate Funding Over Next Decade
US green banks: Many exist in several states but they can upscale action thanks to a “central” green bank
National banks already exist in several countries including Rwanda, Japan and Australia (currently home to the world’s largest). The UK used to have one which, before it got sold in 2017, helped boost its offshore wind industry.
In the US there are already 23 green banks spread across 17 states, with another 25 states in the process of opening their own. With about $1.9 billion of own capital, these smaller scale banks have activated some $7 billion in private money for green projects since 2011, thus leveraging on average $3.70 in external capital for every $1 the banks invested.
However, under the coordination of a “central” green bank, the investment process could accelerate and prove more cost-effective, improving the likelihood of keeping the US in line with the Paris Agreement.
The Coalition for Green Capital has identified $21 billion worth of backlogged clean energy projects at state and local green banks. A national green bank would help address that backlog with a more streamlined process to sustain projects at the local level while providing financial support to improve supply chains and help lower technological costs.
Green banks could play an even more relevant role in reducing the nation’s emissions after the recent Supreme Court decision limiting the EPA’s ability to regulate carbon emissions.
Green banks: A proven model to jumpstart and speed up the green transition
Unlike government grants or tax credits, green banks lend money to develop clean energy or energy-efficiency projects with an expected return on investment, leveraging a relatively small amount of public funds to make them more attractive to private investors.
They can employ low-interest loans and green liberty bonds (offered to retail investors through lower-dollar denominations — e.g., no more than $1,000 – making it easier for everyday citizens to invest in projects with environmental and employment benefits), as well as credit enhancements such as loan-loss reserves and loan guarantees and highly concessional finance to rapidly deploy clean technology in places where the actual cost of adding insulation, solar panels or a heat pump may be higher than some households’ income.
The existing state and local green banks in the US have shown that such strategies can be a sound investment. According to the Coalition for Green Capital, 99.62% of state and local green bank loans in the US have been paid back.
This makes the model self-sustaining, creating value through profitable investments. A federal green bank could be even more effective as a national clean energy accelerator with a national mandate to finance the transition and help develop local markets and supply chains in every state.
Editor’s Note: The opinions expressed here by the authors are their own, not those of Impakter.com — In the Featured Photo: Ringmer Community College – 2008 Ashden Award winner. Featured Photo Credit: Ashden.
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And our very own pawn attributes, i as well as run Pay day America
Attention online applicants: You must have a valid Minnesota ID to apply online. For Wisconsin online loans, a valid Wisconsin ID is required
- Send A friend
- Pricing & Charges
- Exactly who The audience is
Score Online pay day loans Same Day
Pawn The usa is your partner during the pawning, selling, and you will change functions throughout the Wisconsin and you will Minnesota town. Dependent in 1991, we’ve over 17 places. Payday America is the simplest way to acquire pay day loan almost quickly. The net application can take only 10 minutes, and other people are accepted an equivalent date. Shortly after approved, you have access to the loans just after money try placed to your membership. If you want a same-big date payday loans, we offer the best properties. On top of that, we accept every candidates, even people who have less than perfect credit. You don’t have to loose time waiting for recognition or even for their fund to be offered. With the help of our provider, you know you’re getting accepted and you can located your bank account all-in an equivalent big date.
Sometimes things happen. It always is not the fault. Yet not, when some thing would arise, currency trouble often compliment it. A tube in your home you’ll bust, there could be a healthcare emergency, or you could need abrupt vehicles repairs. Nevertheless, problems like this are present, and everyone may use a little help when the expenses is actually mailed. It’s important to remember that this is not their blame, 60% off Americans real time paycheck so you’re able to salary, once one unanticipated and pricey treat takes upwards a whole see, most people do feel stressed. Happy, you could reduce numerous stress by making use of to possess a quick payday loan.
Payday loans online greatest cost
Cash advance is small-term loan choices for all of us experience a-sudden decrease in readily available dollars. Many people exactly who utilize these types of funds is actually making reference to unforeseen expenditures. Best of all, of many payday loans in Arkansas cash advance stores provide online applications and you will same-day recognition. When you have a rapid need for cash, here are some same-time pay day loan. If you’re still not knowing regarding the processes, below are a few the guide less than that lets you know everything you need to know about implementing, getting recognized, and getting a payday loan. Just how cash advance or payday loans functions.
Online pay day loans may be the quickest cure for let pay money for unforeseen expenses. These funds is actually quick-title and generally processed in 24 hours or less. Very lenders let you obtain up to $2,five hundred. They will have an on-line app you ought to complete and you can upcoming hold off as acknowledged. On the other hand, really pay check lenders enable you to borrow money even with a detrimental credit rating. Remember that lenders most of the provides some other requirements. You may not have the same services out-of them.
Prices and charges and disagree of those lenders. Some lenders are predatory and then have outrageously large costs otherwise undetectable charges. From the Pay check The united states, you can expect most lowest and generally speaking straight down rates than just about any competitor therefore we is actually initial with all our very own associated charges. Whenever choosing a loan provider, you really need to contrast prices and you can costs to ensure that you try having the best deal in your mortgage.
Making an application for a payday loan on the internet is simple and fast. Really lenders enjoys on line apps that may be finished in minutes. Often the procedure of completing your application, providing acknowledged, and receiving your bank account is also the occur in not as much as a half hour. Just remember that , extremely software need the same files. Have a look at list of documents you may need lower than so that you can assemble her or him before applying.
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Whether you’re just starting to explore investments, revisiting your life insurance policy or maybe take a more serious look at your estate plan, finding the right financial professional to help you along the way can be a challenge. From RIAs to Financial Advisors to Life Insurance Agents, financial professionals come in all shapes and sizes, and it’s important to make sure you find one that suits you and your family’s needs.
Beyond that, finding the right person to work with is essential. That way, you make sure you're getting the services you need in a way that makes you feel comfortable, and confident with the advice you’re getting. Here are three key considerations to keep in mind when selecting a financial professional.
Comfort and an ability to speak candidly with the person you’re working with is important in a financial professional. You need to trust and have confidence in them to make the best decisions for you and your family throughout your financial lifecycle. Consider that these financial relationships can last for decades, even generations, and endure multiple economic cycles. You’ll want to choose someone you and your family will feel good about working with.
Look for signs that you are compatible with one another during an initial meeting. This can include whether you feel like you and your partner’s needs are being addressed and whether their style or approach matches your personality. Pay attention to conversation topics you seem to enjoy discussing and whether you feel comfortable in their presence – how does your spouse feel when they talk?
If you find yourself feeling awkward or having long silences, it's likely that your personalities won't click. Ask yourself, is this the kind of person you and your partner would feel comfortable going to coffee or lunch with? Having something in common with your financial professional beyond the business relationship is often a good sign that they’re a fit for you.
To be sure, trust your intuition; it is often the most accurate indicator. You should also ask about their typical client profile to see if you are a match on paper.
Investigate a potential financial professional’s financial wellness philosophy – how do they view protection needs, investment approach, risk appetite, or personal beliefs? All of these factors can deeply affect how you approach your finances and the role that they’ll play in your planning.
Keep in mind what matters most to you when considering a financial professional’s approach. Perhaps safety is your top priority, and you are looking for a professional who can provide you with secure, low-risk investments and protection of your assets and income. Or perhaps you are looking for rapid growth, and you want to find someone knowledgeable about the stock market who can help you make investments that might yield higher returns.
You could also be looking for a more personalized approach or to work with someone who will avoid jargon and take the time to get to know you, your family, and your financial goals. Be sure to align your values with those of your financial professional for a more positive and productive experience together.
Not all financial professionals have the same levels of specialization or areas of expertise. Make sure you get to know what each type of professional specifically does and who they serve. Here are some of the most common types of financial professionals, and the services they provide:
Life Insurance Agent
Services provided: A life insurance agent can provide guidance and service on various financial products, including different types of insurance policies, and other protection products.
Fee structure: Life insurance agents typically make money through commissions on any products or policies they sell to clients.
Services provided: A financial planner creates a financial plan to help you achieve your goals. They will often offer a variety of services, including advice on investments, budgeting, saving and tax matters.
Fee structure: Financial planners typically charge per plan.
Services provided: A financial advisor offers advice and guidance on investments and asset management.
Fee structure: Financial advisors typically make money through fees, normally based on a percentage of the assets they are managing.
Services provided: An estate planner helps you manage your estate and helps you create a plan to pass down your assets to your heirs.
Fee structure: Many estate planners will charge an hourly fee for services, ranging from $100 to upwards of $400/hour depending on their level of experience and clientele. They may also have flat fees for certain services like preparing a will.
Services provided: A tax advisor can help explain and provide guidance on the tax implications of your financial decisions.
Fee structure: Tax advisors typically charge an hourly rate for services, which can range from under $100/hour to more than $400/hour. They may also charge flat fees for certain services, that can range drastically depending on the complexity of the service.
Services provided: An accountant will help you with your tax and accounting needs and may also advise on money management. They can assist you with filing your income taxes.
Fee structure: Accountants typically charge an hourly rate for their services, ranging from $100 to more than $500 per hour, depending on the accountant and the services being provided. Some accountants may have scaling flat fees for services like income tax filing.
Each financial professional will have different fees associated with their services. An insurance agent may not charge any fees at all, while an advisor or investment manager may have higher fees that reflect the complexity of the work they do. Fees may also be based on different criteria, depending on aspects like your portfolio performance, the financial products you purchase, the complexity of your accounts, or the total amount of wealth you have to manage.
Before making a choice, understand how they are paid for the work they do with you and determine if it’s right for you and your needs. Also, think about if your situation requires a more specialized professional and if it is worth paying the extra fees for their services. Ultimately, the decision should reflect your individual needs and goals.
Choosing the right financial professional doesn’t have to be an overwhelming process. By following our three-box checklist, you can narrow down your options and find the one that fits your needs at a cost you can afford.
Working with a financial professional can also give you peace of mind knowing you have the guidance and support necessary to make informed financial decisions.
This article is provided for general informational purposes only. Neither New York Life Insurance Company, nor its agents, provides tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions.
SMRU #5457781.1 exp. 3/7/25
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The average rate for a 30-year fixed-rate purchase mortgage was 3.402% Friday. The average rate for a 30-year refinance was 4.291%.
Money's current mortgage rates include data from 8,000 lenders across the United States and are updated daily. The rates include points and represent what a borrower with a 20% downpayment and 700 credit scores — roughly the national average FICO score — would have been quoted.
|30-year fixed-rate purchase mortgage
|Rate of October 2, 2020
Mortgage rates vary from state to state. On Friday, borrowers in Alaska were quoted the lowest mortgage rates — at 3.172%. People looking for mortgages in Nevada saw the highest average rate at 3.651%. Nationwide, borrowers with the highest credit scores, 740 and above, were quoted rates averaging 2.957%, while those with credit of 640 or below were shown rates of 4.729% — a 1.772 percentage-point spread.
You may be able to negotiate a lower rate if you shop around or if you have other accounts with the lender. (Money's picks for the best mortgage lenders are here.) Currently, some banks are hiking up advertised rates to keep demand in check, so you may be offered a lower rate if you reach out directly.
Freddie Mac's widely quoted Primary Mortgage Market Survey put rates at 2.88% with 0.8 points paid for the week ending October 1. The mortgage purchaser's weekly survey reflects borrowers who put 20% down on conforming loans and have excellent credit.
Refinance rates today
Money's survey also shows that the offered rate for a 30-year refinance for someone with a 740 credit score was 3.579% on Friday. Last October, the average mortgage rate (including fees) was 3.859%.
|30-year fixed-rate mortgage refi
|Rate of October 2, 2020
A homeowner with a $200,000 mortgage balance currently paying 3.859% on a 30-year loan could potentially cut their monthly payment from $939 to $908 by financing at the current lower rates. To determine if it's worth it to refinance your mortgage, also consider the closing fees you paid on your current mortgage, how much your new lender is charging and how long you have left on your loan term. (Our picks for the best lenders for refinancing are here).
What else is happening in the housing market right now?
The sale of single-family homes has led the real estate rebound as people look for more space to socially distance, but an worsening inventory shortage is pushing home prices higher and may lead to a resurgence in the sale of condos.
Condo prices increased 5.4% year-over-year during the month of August, bringing the median price to $266,000, according to a report by online real estate broker Redfin. By comparison, the median price of single-family homes increased by 11.9% to $343,000, the largest price growth gap between the two since 2014.
“Home prices have been growing across all property types, as record-low mortgage rates have suddenly equipped Americans with more buying power. But condos have experienced relatively modest price growth because the coronavirus pandemic has motivated many homebuyers to instead bid on single-family homes, which typically offer more space and privacy,” said Tayor Marr, Redfin's lead economist. “But if prices of single-family homes continue to surge to unsustainable levels, condos may make a comeback, as they could become the only type of home that buyers in some areas can afford while also avoiding intense bidding wars.”
Redfin saw a decline in saved searches for single-family homes from 37% in July to 34% in August, which may be a sign that potential buyers are losing interest in this type of property but could also mean that the severe lack of inventory in this category is leading buyers to look at other options. Year-over-year, the total number of active listings is down 26% for single-family homes while the number of listings for condos is up 3.6%. New listings for condos are up 18.4%, while single-family homes are only up 1.8%.
Condo sales are rising, increasing 11.8% during August compared to a 10.8% increase in the sale of single-family homes. However, the single-family are selling faster (30 days on average) than condos (36 days) and lead to more bidding wars — 56.6% compared to 41.3%.
Mortgage Term of the Week
Understanding the lingo can be key to avoiding mistakes when you are buying a home or refinancing your mortgage. For more read: Everything You Need to Know About Mortgage Rates in 2020
Buydown: Refers to money someone (like a builder or property seller) advances to a purchaser to reduce their monthly payments, either for a specific period of time or the entire term of the loan.
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Understanding W 2 Tax Form
A lot of people are not comfortable with one of the things that are giving out money. You get to have no choice but to give out some of your hard earned money to a certain authority with tax season. You can make things to be easier when paying tax with one of the best solutions that is W 2 tax form. There is a lot of things that you need to discover more before you go for the W 2 tax form to be on a safer side. The fact that you have a lot of paperwork to keep up with can make it possible for one not to know the meaning of the W 2 tax page. in W 2 tax form, you need to know that there is a lot of information to be included, like employees’ salaries, amount of tax deduction, and wages. As an employer, you need to make sure that employees receive their W 2 tax form no later than January hence you need to click here for more. Your employees get to have tax information when tax season arrives because of that.
Contract employees, self employed and freelancers are some of the group of people that do not have to know the meaning of W 2 tax form. For one to complete taxes, he or she needs to have all the W 2 tax forms first. Making sure information in your W 2 tax form matches your tax information is the only thing that you need to do to be safe when filing taxes. With IRS, you get to have a hard time when the information in your W 2 tax form is different from the one in your tax documents.
Another things that you can get in your W 2 tax form include dependent care benefits and any health insurance from the employer. Another great information that you should have at the back of the head is the fact that you may not be taxed some income depending on the situation. Because of that, it is important to make sure that your W 2 tax form is right to save some money in your tax bill. Through your years earning, you need to understand that your social security benefits are calculated. Because of that, you need to make sure that the information in your W 2 tax form is accurate at all time.
Knowing the place to have their W 2 tax form is one of the great challenges that a lot of people have. There is a lot of homepage that can help you in creating your W 2 tax form hence you should not worry. To be on a safer side, you need to do one of the only things that are selecting the best W 2 generator.
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By Hanniz Lam
New year, new hope! How many times have we felt super motivated as the new year begins?
Same thing every year. We’re hopeful human beings.
We declare to ourselves we’ll take better care of ourselves. We’ll visit our parents more often. We’ll bring our kids out more. We’ll make better business decisions. We’ll make more money!
So since this is a money blog we won’t be coverering the other things but we sure will share how you can save money with this 5 tips!
1. Use a high interest savings account
We’ve already talked about this last month but if you’ve been busy finishing up your work so you can clear your leave and use that as an excuse to ignore our new posts, here it is again.
Since there are so many banks to choose from, we’ll pick one.
As of September 2021, the Standard Chartered Privilege$aver savings account offers the highest interest rate on a savings account, provided the account holder fulfils three conditions (Save, Spend, and Invest/Insure) to increase the interest from the base 0.05% p.a..
You will need to deposit at least RM3,000 in fresh funds every month to unlock an additional 0.75% p.a. interest via the Save requirement.
On top of that, you can earn up to 1.50% p.a. interest when you fulfil the Spend requirement: 0.75% p.a. when you spend at least RM1,000 with your Standard Chartered credit card, and another 0.75% p.a. when you perform at least five retail transactions on your debit card.
Finally, unlock another 2% p.a. for up to three months when you tap into the Invest or Insure requirement. You can do so by investing a minimum of RM30,000 in unit trust, or purchase an insurance policy with a minimum of RM30,000 annual premium.
The Standard Chartered Privilege$aver account has set a cap on the amount of interest that can be earned via the three bonus categories. For each category, bonus interest will be credited on up to RM100,000 of your monthly average balance (MAB).
At 4.30% p.a., you’ll be earning a pretty good chunk of interest each month. A good way to hit the save requirement for a 0.75% p.a. interest is to use this account as your salary deposit account – you just need to inform your HR department for this.
Put a note on your laptop so that’s the first thing you do when you get back to the office.
It’s also not a stretch to spend with StanChart’s credit and debit cards. For credit cards, in particular, the JustOne Platinum and Liverpool FC Cashback credit cards yield cashback as you spend, although the JustOne Platinum and Liverpool FC Cashback cards have both seen some massive adjustments to their cashback terms in recent times.
For some added context, this latest earning structure for the Privilege$aver campaign was an update that was introduced in the beginning of February 2021, which initially allowed accountholders to potentially earn more interest than the previous structure.
In early June 2021, however, StanChart rolled out further revisions to bring the total interest to its current 4.30%.
2. Cut Your Car Insurance In Half (or More)
I’ve been using an agent to handle my car insurance and road tax the past few years as I found it convenient. I didn’t mind paying a little more for the convenience. My hubby on the other hand is a super tight fisted man and every sen counts.
As I’ve not been driving much the past two years due to the slowdown in projects (events is a badly hit industry), it didn’t make sense to pay so much for such low mileage.
So hubby advised that I check out Pacific & Orient Insurance. I opted for the lowest mileage and saved about 40% of what I usually pay.
3. Control your Credit Card spending
Banks have structured their offerings in such a way that purchasing items using their credit cards could benefit you in the form of rewards and other freebies.
It is difficult to resist the temptation to swipe a credit card when you’re eyeing that electronic gadget, smartphone, outfit or designer handbag.
At the point of purchase, you rarely consider how you will feel when the bill arrives later in the month. You’re only feeling happy with your purchase and imagining yourself showing off the latest gadget or purchase to your friends.
And then, a few weeks later when the credit card bill shows up, you experience that sinking feeling of knowing that you cannot possibly settle the bill in full.
So, you make a payment for the minimum balance repayable, and resolve to be more responsible next month so that you can settle the bill in full.
However, the same thing happens the following month. And the month after that.
If you’re struggling to keep your credit card spending under control consider using just ONE general purpose card instead of a gazillion cards.
You can stick to one that offers the best cash back or points rate for everyday spending and more easily keep track of your current balance. You’ll also limit the damage you can do because you won’t be able to max out multiple cards.
Figure out how much of your income you can put toward discretionary purchases and then see what you can charge on your card without exceeding it. The 50-40-10 budget is an easy way to do this and involves limiting essential spending to 50% of income, savings and investments to 40%, and wants 10%.
If you bring home RM3,000 per month, and you know you can spend 10% of monthly income on discretionary expenses, then you have RM300 available to spend.
So your monthly spending limit on your credit card should be RM300 — assuming you use your card only for these discretionary purchases. As soon as you’ve hit that amount, you have to stop spending for the month. Just STOP!
If you tend to have a problem with overspending on online shopping, try removing your cards from your online accounts.
When your card is stored, it’s really easy to buy things without thinking about it — especially because many websites facilitate one-click purchases.
If you have to manually type in your card number, on the other hand, this requires much more of an effort on your part and is likely to make you think more carefully about the purchases you’re making.
4. Cut Your Expensive Home Insurance
If you’re a homeowner, you probably have home insurance, but you hardly ever think about it. That’s good — it means you haven’t needed to use it. But it also means you don’t know if you’re being overcharged for it. 2022 is your time to cut that expense down.
There are three main types of policies which you can buy to protect your home :-
1) Basic Fire Policy
This policy covers your building and/or contents from loss or damage caused by fire and lightning. The coverage could also be extended to include special perils e.g. storm and tempest, flood, earthquake etc.
Under Bank Negara Malaysia’s tariff liberalization framework, insurers are also allowed to introduce non tariff fire insurance products with variations in coverage, terms and conditions. Policyholders are advised to refer related enquiries to their agents or insurers.
Fire policy can be extended to cover the following perils with additional premium:-
- Aircraft damage
- Earthquake and volcanic eruption
- Storm tempest
- Flood damage
- Impact damage
- Bursting or overflowing of water tanks apparatus or pipes
- Riot strike and malicious damage
- Electrical installation Clause B (for businesses)
- Bush fire (for businesses)
- Subsidence and landslip
- Spontaneous combustion (for businesses)
- Damage by falling tree or branches and objects thereform
- Sprinkler damage (for businesses)
Smoke damage (for businesses)
2) Houseowner Policy
A houseowner policy provides additional levels of cover for your property over and above a standard fire policy.
This means cover for the physical structure of your property such as walls, roof, fixtures, fittings, outbuildings, etc. for severe weather damage, floods, fire, burst pipes, and a range of other negative events that could impact your home.
3) Householder Policy
The householder policy is designed to provide additional cover for the contents of your home.
This means in the event of an insurable event such as fire, lighting damage, floods, burst pipes etc… the value of your contents are recoverable as part of the policy.
This policy can also provide additional cover for registered individual homeowners in the event of fatal injury.
Here are 8 ways to save.
1. Raise your deductible
A quick way to reduce your premium is to raise your insurance deductible, the amount you pay if you have to make a claim.
Raising your deductible puts money in your pocket every month that otherwise would have gone to your insurer. Just be sure you have enough saved to cover a bigger out-of-pocket expense if you need to make a claim.
2. Make your home more secure
Even the basics can save you money when it comes to home security.
Having a smoke detector, burglar alarm or deadbolt locks on your home can earn you a 5% discount. Going a step further by adding a comprehensive sprinkler system along with an actively monitored fire and burglar alarm could save you as much as 15% to 20%.
3. Skip small claims
It may be tempting to file a claim with your insurer even when something relatively minor happens, but you may be better off in the long run if you pay out of pocket for these smaller expenses. That’s because some insurers offer discounts if you remain claim-free for a certain period of time, usually a few years.
4. Ask about lesser-known discounts
Unless you check, you may never know what other savings you might be eligible for. Some insurers offer additional discounts if you:
- Don’t have any smokers living in the house.
- Recently bought your home.
- Pay your premium via automatic bank payments.
- Choose paperless billing.
- Work in a specific career, such as teaching, engineering or firefighting.
5. Account for home improvements
If you’ve improved your home, you may have made yourself eligible for homeowners insurance discounts without even realizing it. Adding features such as storm shutters and impact-resistant roofing — which make your house tougher to damage — could result in insurance savings. You might also earn a discount by upgrading outdated plumbing and electrical systems.
6. Bundle your auto and home insurance
Bundling auto and home insurance with the same company typically saves you 5% to 15% on your homeowners premium. Although it could vary depending on your company, many insurers provide discounts if you buy more than one type of policy from them.
7. Get rid of high-risk stuff
Even though it may be fun, having something deemed an “attractive nuisance” by your insurer — think trampolines, swimming pools or playground equipment — can add to your homeowners insurance premium. Getting rid of those items could result in serious savings on your insurance.
8. Shop around
Rates for identical homeowners insurance coverage can vary widely from one company to the next. Some homeowners could save RM1,000 a year or more by finding the cheapest rate.
Most companies have tools on their websites that allow you to compare different companies’ rates to let you see if you might be able to save by switching insurers.
5. Cut Your Grocery Budget Down
Groceries account for a good chunk of your budget. Everybody’s gotta eat. You might as well earn a little money back while your groceries are being bagged up and cut down your budget for 2022.
Check out what ShopBack has to offer before you make your purchases.
So what do you think? Are you able to do the above and make your hopes come true?
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We hit the streets of NYC to find out what renters would do with their savings if they could skip paying a security deposit!
See what they said & learn how you can get your deposit back:
What did these renters in Union Square in New York City say they would do with their savings?
– “I would probably use it for groceries.”
– “Buy clothes and Starbucks. Treat myself!”
– “I’d use it for another month of rent.”
– “Vacation – Italy!”
– “Probably put it towards credit card debt.”
– “Pay the rest of my bills. Buy wine and really good cheese.”
– “I’m trying to have Kids. So, probably use the money for children…”
– “I would invest it. I would use the money towards something that would benefit my life or my apartment.”
– “I’d put it in my savings. I don’t know how to invest money, so I’ll put it in my savings.”
– “Those grad school loans are starting soon, so…”
– “Put it toward the next month’s rent!”
– “I would probably invest it into the space that I’m about to live in!”
How Does Obligo Work?
Rental properties partner with Obligo to allow qualified renters to skip paying a cash security deposit at move-in. Current renters can also use Obligo to apply their existing security deposit to rent.
To live deposit-free, renters simply provide a payment method through the Obligo platform. If there are damages or missed rent at the end of the lease, your property manager will be authorized to charge this payment method – up to the stated amount of security requirement – and you will be billed by Obligo.
Obligo is not an insurance product. You’re still accountable for any charges, but Obligo does offer the ability to repay charges in interest-free installments. Just like a traditional deposit, you also maintain the right to dispute charges directly with your property manager.
Obligo charges a fee for our service (a small percentage of your rental’s security requirement), and you can then use your deposit money where it will generate the most value for you, whether that’s repaying debt, making an investment, furnishing your rental, or just treating yourself!
Find out how you can get your deposit back today!
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I would like to tell you a story about my childhood that shows our lifetime love of grappling — it is not necessarily meant to be a marketing tactic. Before Having been 6 yrs old, I became previously assiduously seeing the tiny black-and-white tv test at my grandmother’s household… weekly, we enjoyed the broadcast of a wrestling show, which entirely captivated me. I did son’t comprehend the thinking but… These macho guy, combating and showing off their bodies… great people and bad guys… spectacular strength hunks and vicious beasts…
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Estate administration, where delays occur and how they can be mitigatedSeptember 27, 2023
Tackling South Africa’s Leadership CrisisSeptember 28, 2023
As September celebrates National Wills Week, we have asked our Wills drafter and admitted attorney, Fatima Abrahams, to craft a piece for our readers on ‘The importance of professional Will drafting’.
As daunting as it may seem, drafting your Last Will and Testament is a vital task that will leave you with peace of mind, knowing that your estate will be distributed as per your wishes and not in terms of the laws of intestate succession. Taking the time to carefully think about your Will is beneficial, as among other things, it reduces the risk of family feuds, and you will have the certainty of knowing that your loved ones are taken care of in the manner that you deem fit after your passing.
When preparing to draft your Will there are various factors to consider, these factors include, but are not limited to, the following:
* Your marital status, if you are married, the matrimonial property regime you married in is vitally important, i.e., in community of property or out of community of property with or without the system of accrual and also to consider how this will affect the distribution of your estate. If you are unmarried, divorced, widowed or in a life partnership, it is important to note this in your Will.
*What is the composition of your family and what is the nature of your family relations and dynamics? If you have minor children, nominating a guardian and having a testamentary trust is both recommended and necessary. You may have a child with special needs that will require a special needs trust or a beneficiary whose inheritance will be best kept in a trust. Perhaps you have a blended family and/or other dependants that would not usually inherit in terms of the law of intestate succession.
If you have a loved one living with you on your property, you may want to include a usus, usufruct or habitatio in your Will, in order for them to remain living in your property after your passing
* Considering the contents of your estate and how you would like your assets distributed is
the crux of your Will. One needs to be mindful of where your assets are located in terms of jurisdiction and whether you have offshore assets. With offshore assets, it is to be noted that different countries have different succession laws, and this will affect how your assets are distributed.
* Substitute beneficiaries are necessary, as this ensures that there is an alternative beneficiary in the event that your nominated beneficiary predeceases you, or renounces the benefit due to him or her.
*Nominating your executor, it is imperative to nominate an executor who has extensive experience in the administration of deceased estates, such as Appleton, as this will greatly benefit your beneficiaries. Having your estate administered seamlessly reduces the stress of your beneficiaries during an already difficult period.
* It is key to make sure that your bequests in your Will are clear, unambiguous, legally enforceable and practical. One should, however, avoid ruling from the grave!
Once your Will is signed, there may be notable moments in one’s life that spark the need to update your Will. Marriage, going through the process of divorce, the birth of a child or the passing of a beneficiary, acquiring a new asset or disposing of an asset may prompt you to make necessary changes. So, the regular review and updating of your Will is critically important.
As overwhelming as it may seem, with proper estate planning and due consideration, the Will drafting process can, in fact, be smooth sailing and you will be left with peace of mind, knowing that your Will is in order and your loved ones are well catered for.
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Last week, PerformLine hosted a mortgage industry roundtable that gathered mortgage leaders to discuss best practices for ensuring compliance and consumer protection as we continue into a year of increased regulatory pressure.
I always love hosting these roundtables, and I had a great time chatting with attendees. Here’s a recap of the top discussion points during the event, including managing loan officers who work remotely, increased conduct risk with decreased mortgage volumes, marketing and compliance on TikTok, and more.
Top Regulatory Concerns
We kicked off the discussion by asking participants what their biggest regulatory concerns are over the next six months to a year.
A Fine Line Between “Loan Officer” and “Realtor”
One attendee talked about their company’s unique situation in which branches are partners of their organization. Because of this, they spend a lot of time managing various loan officers and branch managers, how they’re utilizing social media, and handling compliance. The challenge is helping these loan officers and branch managers succeed while also ensuring that they’re compliant.
Specifically, this attendee noted that they’ve recently been seeing a lot of people walking a fine line between “loan officer” and “realtor” on their social media channels. The challenge here is making sure that they catch these instances quickly and they ensure there’s a clear distinction between loan officers and realtors on social media.
This attendee has been working closely with PerformLine on this to find any instances where loan officers are blurring the lines between their job and a realtor’s job and to get visibility into where this is happening to help mitigate potential risk.
Decreased Volume, Increased Conduct Risk
Another attendee talked about conduct risk concerns as volumes are decreasing, and this concern was echoed by the rest of the participants.
Since lenders work off of commission, they’re going to get more “creative” to try to get business as volume decreases. Attendees shared some “wild” stuff that they’ve seen from loan officers lately who are trying to stand out from the crowd, including:
- Using FHA 203k loans in order to try to cover appraisal gaps
- Wanting to talk about foreclosure options and how their organization can help-you need to be really careful with this because servicing has a lot of strict rules about what you can and can’t say about loss mitigation options
- Unique requests coming from realtors working with loan officers to try to provide value adds, such as presentations on assumptions about the market
If you work in the FHA lending space, you also have HUD regulations that add an additional layer of risk on top of this.
All of these risk factors emphasize the importance of staying on top of your policies and procedures. Make sure you’re monitoring and understanding what’s happening in the various spaces to keep loan officers compliant and protect your organization.
Where To Register Lenders Who Work Remotely
Another concern that was brought up was around those who have lenders who are working remotely and aren’t based out of a specific branch-where do you register them?
The MBA has worked with different states on this topic and new states are added every day that are not requiring loan officers to work from a branch.
Check out this resource from the MBA on remote work policies for lenders.
Loan Officers on TikTok
It seems like every time we have one of these roundtables, TikTok always makes its way into the discussion. More and more loan officers and mortgage companies are taking advantage of this popular social platform.
One attendee shared that their organization is using TikTok on the corporate level, and has gotten over 365,000 views within the last 60 days. This resulted in a big increase in traffic to their website’s homepage.
Another attendee agreed that TikTok provides a huge opportunity for loan officers to get their names out there and share their expertise. They talked about how even though loan officers might not like the idea of TikTok or the app itself, they have the potential to reach hundreds of thousands of potential customers, and they should at least try to utilize the platform for lead generation.
Being the subject matter expert is key, but compliance does need to sign off on posts before they go live. One attendee shared that their organization has sent out TikTok training with guidelines on what they can share on the platform with examples.
Equal Housing Logo on Social Profiles
Another attendee asked the rest of the participants how they are displaying the Equal Housing Opportunity logo on their social media profiles where it’s not always feasible to do so.
A few attendees said that verbiage should suffice when the logo is unable to be displayed directly.
Another option that was shared was to create a story on the social media profile with the logo (specifically Instagram) and then pin that story as a highlight on the profile.
This seemed to be the “a-ha!” moment for a lot of attendees. That idea got a lot of positive responses and a lot of folks said “I’m definitely going to try that!”
This is why I love doing these roundtables. Even though this piece of advice might not seem groundbreaking, it’s an excellent example of how ideas and best practices can be shared with one another. It also shows that you’re not alone with your concerns or challenges-if you’re running into them, it’s likely that others are too, and some may even have a resolution for you!
Join Our Next Roundtable
Here at PerformLine, we’re always looking for ways to connect with other compliance professionals to discuss the latest trends happening in your industry. During our roundtables, there is no one expert in the room-you are ALL experts! When you join us, we hope that you will turn your camera on, bring your voice, and be open to sharing your thoughts and best practices. This leads to an engaging conversation with others that simply want to connect with like-minded professionals.
Check out our upcoming industry roundtables here.
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Accidents Happen, are You and Your Family protected?
Pete Tarr Insurance, located in Delta, Colorado, offers extensive Coverage Plans to cover all aspects of life.
Types of Insurance Pete Tarr Insurance offers:
Fires are usually devastating, causing irreparable damage. Ensure your Home is protected against Damage. Call Pete Tarr to learn about what Coverage Options are available to you.
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Business Insurance is a necessity. The most important and sought after Coverages are: General Liability Insurance and Professional Liability Insurance. These coverages ensure you are protected from lawsuits. Lawsuits can come in many forms, from Bodily Injury Claims and Property Damage Claims to Errors and Omissions. Ensure your Business is protected with Pete Tarr.
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The problem of identity theft continues to grow. Every year, people file more complaints with the Federal Trade Commission (FTC) about identity theft than anything else. In recent years, more than 1 million identity theft victims report their cases to the FTC.
Much of that identity theft could be prevented if consumers would only freeze their credit files with the major credit bureaus. The three bureaus are Equifax, Experian and TransUnion.
It’s free for consumers nationwide to freeze their credit files. And it’s easy. It takes only about 20 minutes by phone. It can take twice as long if you do it online in part because you have to create accounts.
Freezing your credit files prevents new credit cards or loans from being opened in your name. A frozen file can also prevent someone from getting your income tax return in some states or accessing your Social Security account online. Despite the ease of freezing your files and the risks of not doing it, various surveys indicate that only between 10 and 20 percent of consumers have frozen their credit files. It’s likely you wouldn’t consider leaving your home unlocked and your front door open while you’re out of state on vacation. Leaving your credit files open for identity thieves is similar.
What information do you need?
- Your full name.
- Your current address.
- Your previous address (if you’ve lived at your current address for less than two years.)
- Your Social Security number.
- Your date of birth.
- Your cell phone number.
- A six-digit PIN.
TIP: Think of your six-digit PIN ahead of time. For now, TransUnion requires you to generate your own PIN. Don’t make it something like your birthdate or any part of your SSN or phone number or address.
What to know before you start freezing your files
Have all of your information written down in front of you, including your birthday and Social Security number if you’re not used to providing verbally. Yes, you can remember your birthday. But you might get flustered when asked to quickly provide Jan. 5, 1990, as two numbers for the month, two numbers for the day and four numbers for the year. It’d be 01/05/1990.
Don’t get confused and accidentally choose a lock or a fraud alert. You want a freeze. A lock may cost money and isn’t regulated. Freezes by law are free and must comply with federal law.
Don’t buy identity theft monitoring or any other service. You don’t need a credit or debit card to freeze or thaw your file. If you get asked to enter payment information, you’ve gone down the wrong road.
Don’t try to multi-task when freezing your files. You should just sit down and focus for a few minutes and you’ll breeze through it. But you have to pay attention. For example, if doing by phone, sometimes you need to enter the pound key (#) after your entry and sometimes you don’t. You need to listen closely.
Don’t have your phone on speaker. The services operate on voice recognition software. The credit bureaus’ computers often pick up background noise and may misinterpret sounds or may hang up on you.
If freezing your files by phone, make sure you’re in a private place, and strongly consider turning off Alexa or any other devices that listen to your voice.
Don’t worry about providing personal information. Yes, you must provide your Social Security number and other information that you’re right to be protective of. But the credit bureaus already have all of this information and a whole lot more. Just make sure you’re going calling the correct phone numbers or going to the correct website.
When asked to enter a date for the freeze to take effect, don’t enter today’s date. Generally, it won’t work unless you provide a date of tomorrow or later. If you make the request by phone or online, the credit bureau by law must freeze your file within one business day.
Make sure you keep your records of your PINs/passwords in a secure place, such as your file cabinet or wherever you keep your Social Security card, birth certificate, etc. It can be a pain to try to thaw your files if you can’t find your PIN.
And if you’re unfreezing/thawing your files
Think about how long you want the thaw to last and write that down. If you’re applying for a credit card tomorrow, you should leave your files thawed for a few days. If you’re applying for a car loan, you should leave your files thawed for at least a week. If it’s a mortgage, it should be six to eight weeks because most lenders check your credit files immediately and again at the end of the underwriting process.
Speaking of unfreezing. Yes, you can thaw all three of your files in about 15 minutes if you have all of your information. And yes, the thaw will kick in in just a few minutes. But you still shouldn’t wait until the last minute if you can avoid it. If you’re planning to rent a home and a credit check is required, or buy a car and apply for a loan later this week, then thaw your files today and leave them unfrozen for a week or two.
Before calling to unfreeze your files, write out your information just like you did to freeze them. Also, write out the date you want your files to thaw and when you want the freeze to resume. So if you wanted to thaw them on September 14, 2023, and refreeze them on September 28, 2023, it’d be: Thaw on 09/14/2023 and refreeze on 09/28/2023.
What to do to freeze or unfreeze/thaw your files
To freeze or thaw your credit files with the three major credit bureaus, you can do it by phone or online.
While I prefer to do many things in life online, I personally think it’s easier and faster to freeze your credit files by phone. There are fewer options to get confused by. You just follow the prompts. You don’t have to provide an email address or fill in your personal information online, which rightfully concerns many people.
Two additional upsides of freezing/thawing by phone: First, you can thaw your files more easily by phone if you’re not home. (It might be quicker with an app, but we don’t like unnecessary apps that track you and pilfer your information.) Second, if you freeze/thaw online, you have to be careful to *uncheck* any box that automatically gives them permission to send you marketing and other emails.
To freeze or unfreeze/thaw your credit files by phone
To freeze or unfreeze/thaw your credit files online
(If you’re going the online route, see screenshots of what the bureaus’ landing pages look like at the bottom of this page, so you don’t end up on a scam site.)
What does it mean to freeze your files?
Anytime you apply for a new credit card or loan, the bank will check your credit score and evaluate your ability to repay the account. If you freeze your credit files, it means no bank or credit card issuer could access them. Therefore, it wouldn’t open a new account in your name because it wouldn’t be able to determine your credit score, how much you already owe and how well you repay existing debts.
So freezing your files puts a big padlock on your personal information and protects you.
In addition, many state and federal offices verify identity by generating quizzes based on personal information from your credit report, such as a past address or the name of the bank where you had a car loan. Until frozen files are thawed, no one can confirm your identity, meaning your income tax return can’t be submitted electronically in some states and a Social Security account can’t be accessed online.
What freezing doesn’t mean?
- Freezing your credit files does not prevent fraud involving existing accounts, which could still occur if you lose your credit or debit card.
- It does not affect your ability to open a checking or savings account.
- It does not directly increase or decrease your credit score.
- It does not affect your ability to check your own credit report.
- It does not affect your ability to get credit information from services such as Credit Karma, Credit Sesame, etc., if you have already created an account with one of them. (However, consumers should know these services often share your personal information for marketing or advertising purposes.)
What are the consequences of not freezing your files?
Identity theft victims can expect to spend an average of 28 hours untangling the mess, including filing police reports, disputing charges, submitting affidavits (sworn statements) and getting credit reports corrected.
Take 20 minutes sometime in the next week to take care of yourself. Heck, maybe even put it on your calendar like any other commitment. Twenty minutes is a lot better than 28 hours.
The landing pages for credit freezes look like what’s below in September 2023. Watch out for imposter sites. Don't just click on a search result without verifying the URL.
Consumer Watchdog, PIRG
Teresa directs the Consumer Watchdog office, which looks out for consumers’ health, safety and financial security. Previously, she worked as a journalist covering consumer issues and personal finance for two decades for Ohio’s largest daily newspaper. She received dozens of state and national journalism awards, including Best Columnist in Ohio, a National Headliner Award for coverage of the 2008-09 financial crisis, and a journalism public service award for exposing improper billing practices by Verizon that affected 15 million customers nationwide. Teresa and her husband live in Greater Cleveland and have two sons. She enjoys biking, house projects and music, and serves on her church missions team and stewardship board.
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Real Property Research Group, Inc. (RPRG) is a national real estate market research firm with offices in Columbia, Maryland, and Atlanta, Georgia. RPRG serves lenders, developers, homebuilders, investors, nonprofit organizations as well as state and local government agencies. Our mission is to assist clients in maximizing real estate development opportunities and minimizing risks by providing an understanding of relevant market conditions and trends.
To gain a further understanding of what we do at RPRG and how we utilize our skills and expertise to assist our clients, explore the links in the product experience section below or the menu of service types provided in the slideshow above.
Projects include those funded by federal tax credits, USDA or HUD subsidies, and municipal tax-exempt bonds.
Projects include those utilizing convential financing and/or HUD mortgage insurance.
Project include new home communities, mixed-use developments, and community assessments.
Projects include age restricted apartments, independent / assisted living, and CCRC's.
Projects include master-planned communities, residential over retail, and commercial uses.
Regional, community-wide, and project/sub-market specific analysis of past, present, and future economic trends.
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After a long legislative odyssey, the House passed the broad health care reform package on Sunday evening by a vote of 219-212. This legislation is identical to the Senate bill adopted on Christmas Eve and is now ready to go to the President. As CongressDaily noted:
The House took a historic vote late Sunday night to approve an overhaul of the nation’s healthcare system after more than a year of debate, a few near-deaths for the measure and an intense final week marked by loud and angry protests outside the Capitol.
The House also adopted 220-211 a package of “fixes” to the larger bill that will now go to the Senate for consideration. This narrower package makes numerous changes to the broader bill, including imposing a new 3.8 percent tax on unearned income that hits S corporations, and will be considered in the Senate under reconciliation rules that only require a simple majority vote.
The Senate vote is expected to occur later this week and, by all accounts, the Senate Democrats have the votes to prevail. (Note: There are two remaining bumps in the legislative road to look out for. First, there is a lot of talk about a possible Social Security point of order that would bring down the entire “fix” bill. Second, there are numerous so-called Byrd Rule violations in the “fix” bill that will need to be removed, which means the Senate “fix” bill will differ from the House version. That means a conference and a more protracted debate.)
About a month ago, we predicted that health care reform would stall and eventually be set aside by other legislative priorities. Its adoption yesterday demonstrates both the risk of trying to predict the future, and also the determination of the Obama Administration and Congressional Leadership to see this effort through. It’s an impressive legislative victory, albeit a costly one for private enterprise.
S-Corp Leads Response
Last week was a busy one for your S-Corp team. Early in the week, we learned that the House would consider, as part of the health care “fix” bill, a new 3.8 percent tax on certain types of income.
While the tax has been inflicted with various labels — in a nod to reality, the House dumped the original “Medicare Tax” title — the simplest description is that it’s a tax on investment income — just about any taxable investment — including S corporation and partnership income attributed to non-active shareholders and partners.
So, if your income is high enough and you invest in Microsoft, you’ll pay this tax on any dividends or capital gains Microsoft earns you. Similarly, if you invested in your daughter’s S corporation, you also pay the new tax.
In response, your S-Corp team quickly organized a business community letter opposing the new tax in the strongest terms. The letter, sent to Hill leadership and signed by 24 small business groups, makes the case that this new tax is going to hurt job creation and economic growth in future years. As the letter states:
Finally, while the tax has been described as applying to the “unearned” income of only a few taxpayers, it is actually a direct tax on the majority of taxable savings in this country. In 2007, households with incomes exceeding $200,000 accounted for 47 percent of all interest income, 60 percent of all dividends, and 84 percent of all capital gains reported on tax returns.
Businesses and workers rely on these savings to increase their productivity and wages. At a time when businesses are having a hard time accessing credit, millions of workers are unemployed, and the entire economy needs to recapitalize, raising taxes by this amount on that much capital is simply reckless.
Despite this harm, the House retained the provision. It now heads to the Senate. While we expect the Senate to adopt the tax as well, the tax itself doesn’t take effect until 2013, giving the S Corporation Association and our allies two years to educate policymakers on why this is a really bad idea.
The “3.8%” Tax and Future Tax Rates
Peter Cohn in CongressDaily has an interesting piece on where tax rates, especially the tax rate on dividends, are headed in the next couple years. Here’s the lead:
Democrats may be boxed in to letting the tax rate on dividends for upper-income earners top 40 percent in January — or coming up with tens of billions of dollars to pay for a lower rate — due to new budget rules signed into law in February.
The general assumption has been that Democrats will enact President Obama’s tax policies, averting that scheduled increase by capping it at 20 percent for wealthier earners. But the pay/go law only assumes the dividend rate will stay at its current 15 percent for middle-class taxpayers. For the wealthy, the rate would revert to its pre-2003 levels corresponding to ordinary income tax rates, unless Congress finds a way to pay for holding it to 20 percent.
With Federal deficits exceeding $1 trillion, we’re not holding our breath here that the same Congress that just imposed a new 3.8 percent tax on investment income would turn around and cut the base tax rates on that same category of income.
Which means, coupled with where the marginal tax rates are scheduled to go already, the new 3.8 percent tax has the potential to drive tax rates to their pre-1986 levels — capital gains rates would be 25 percent while the tax on interest, dividends, royalties, and other forms of investment income would be nearly 45 percent. More from Peter Cohn:
Observers outside the Beltway are baffled why the issue isn’t getting more attention. “I don’t think anyone is really focused on the dividend tax,” said Jeffrey Kwall, a professor of tax law at University of Loyola Chicago Law School. “And I don’t think people have really thought through what kind of impact it would have on the market” for the top rate on dividends to skyrocket by 165 percent.
Congress spent a year focused on expanding the Federal government’s obligations to health care while ignoring one of the most basic issues affecting the economy and job creation — the after- tax rate of return on investment. Outside observers should be baffled.
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If the recent “Great Resignation” has affected your business, then you know how important it is to retain workers. Luckily, there are proactive measures for keeping the best workers, like offering medical benefits.
The Kaiser Family Foundation says that approximately 58% of small organizations and 99% of large organizations offer health benefits to some of their staff. TeamStage reports that 83% of businesses are considering increasing their wellness benefits for the future.
The Bureau of Labor Statistics recently gave a report that suggests employers recently paid 78% of single coverage plans for medical care premiums and 66% of the premium for family coverage plans.
You can improve employee retention by offering good medical benefits, including dental insurance, vision insurance, life insurance, long term disability, and short term disability. Here is why.
The Cost of Turnover
Before we discuss in further detail how much medical benefits mean to workers today, let’s talk about the cost to replace an employee. It is more than you may think.
SHRM suggests it costs an employer six to nine months of a worker’s salary, on average, to replace an employee. If you have an employee with an annual salary of $60,000, that means that recruiting for that position can cost between $30,000-$45,000 for recruitment and training.
Professionals will tell you that retaining employees cost less than turnover. Robert Half reports that 38% of workers leave their current employer due to “inadequate salary and benefits.”
Retaining Workers with Benefits
You are competing with other businesses. You compete for market share and sales. Not only that, but you are also fighting your competitors for top talent.
It is not uncommon for a competitor to contact your employees, trying to sway them to come to join their team.
It is critical that you tailor your benefits package in a way that is magnetic to most employees. You want to attract a worker with your benefits and ensure that they stay with you for the long run.
One way you can go about discovering what is important to workers in the job market is to survey your current employees. Ask them what type of benefits are important to them. Also, ask what additional benefits out there will interest them.
Medical Benefits are Most Common
Consistently, medical benefits are highly desirable to workers. It is not surprising given that healthcare is very expensive. In fact, without employer-sponsored insurance, it is unaffordable to many.
Coming out of the COVID-19 pandemic, good medical benefits are more important to workers than ever. Here lies the opportunity.
A Complete Benefits Package
If you are in a market or industry where there is a lot of competition for top talent, then a generous benefits program can be what separates you from the pack as the employer of choice. Doubling down on medical benefits, in fact, maybe the best option.
You will want to seek a vision and dental insurance provider for small to mid-sized companies to help you with offering a robust benefits package. Today’s workforce will also appreciate an employer who offers life insurance, long term disability, and short-term disability.
We Make it Simple
As Semple Solutions, our name says it all. We focus on solutions, and we have every client’s best interest at heart. Beyond rates, we can find a creative solution to help you maximize your benefits with the most effective cost to you, the employer.
We are happy to take the time to learn about your business. Contact us today, and let’s find a medical benefits package that fits your business and your employees.
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Salary sacrifice has been used by employers to provide a wide range of benefits to employees. However, changes to such schemes, announced in November’s Autumn Statement, mean that employers who have these arrangements in place must prepare themselves to make sure they adhere to these new rules.
The change in legislation is due to the government’s previously expressed concerns regarding the growing use of salary sacrifice arrangements, especially as the employee is effectively paying for the benefit themselves through the reduction in their gross pay, with the government collecting less tax and national insurance as a consequence of the salary sacrifice.
The government published its consultation on 10 August 2016 which included the framework to address the perceived inequality created using salary sacrifice.
On 5 December 2016 The Finance Bill 2017 was published and contains the provisions which are intended to eliminate the tax advantages previously obtained by entering into a salary sacrifice. The new legislation will come into effect from April 6th 2017.
It is proposed that where an employee enters into any salary sacrifice after April 5th 2017 a tax charge will be based upon the greater of:
- The salary sacrifice; or
- The cost to the employer in providing the benefit
This approach will apply even where the benefit is normally exempt from tax and Class 1A National Insurance.
It has also been confirmed that the provision of the following favourable benefits will be outside the scope of the ‘optional remuneration arrangements’:
- pension contributions;
- pension advice;
- childcare arrangements;
- cycle to work schemes; and
- ultra-low emission cars
It will be possible for the above benefits to continue to be provided as part of a salary sacrifice arrangement and not be subject to the new legislation. The government has confirmed employers will be able to make available ‘intangible benefits’, such as additional leave, by entering into flexible working arrangements via salary sacrifice without invoking the new legislation.
Employers can proceed with a degree of certainty and the ability to adopt salary sacrifice for employee pension contributions for those employees who do not participate in a defined benefit pension scheme. This will prove exceedingly helpful bearing in mind the requirement under the Workplace Pension Regulations where there will be a requirement for both the employer and employee to make combined minimum pension contributions of 8 per cent by April 6th 2019.
The draft legislation includes transitional rules which will help employers and employees adapt to the proposed changes.
Under the transitional rules, where an employee has entered into an arrangement before April 6th 2017, they can continue to benefit from the tax and National Insurance advantages under the salary sacrifice until 2018. Where the arrangement relates to one of the following benefits, the transitional period will be extended to April 2021:
- Living accommodation; and
- School fees
However, the transitional period will be foreshortened where one of the following events occurs before the end of the transitional period:
- The arrangement comes to an end; or
- There is a change to the arrangement; or
- Modification to the arrangement; or
- Renewal of the arrangement
The first of the ‘tests’ is fairly clear cut and should represent a natural end of the benefit being provided. However, the remaining ‘tests’ will present some challenges for the transitional rules to be provided up to either April 2018 or 2021.
The following example summarises the position as it relates to the provision of gym membership in conjunction with a salary sacrifice.
The current salary sacrifice arrangement is due to come to an end in August 2017. The member of staff enters into a new salary sacrifice arrangement in respect of the gym membership from September 1st 2017.
Whilst both agreements have been entered into before April 2018, there has been a renewal of the arrangement and under the transitional provisions the tax advantages derived under a salary sacrifice will cease to be effective from August 2017. Under the optional remuneration arrangement legislation the employee will be liable to tax and national insurance from September 2017 on the greater of:
- The salary sacrificed; or
- The cost to the employer in providing the benefit
It is unlikely the employee will be better off by entering into a new salary sacrifice arrangement beyond August 2017.
Other points to consider
Employers will also need to consider the following as a consequence to the new legislation:
- Once the salary sacrifice arrangement comes to an end the employee’s earnings will revert to their pre-sacrificed amount which will be liable to income tax and national insurance;
- Depending upon the nature of the benefit provided, for some employees this could mean they will be liable to income tax at a higher rate;
- The employer will potentially have an increased national insurance liability;
- The employer will also have an increase in earnings for the purpose of calculating the apprenticeship levy;
- Potentially there will be an increase in pension contributions although this will be dependent upon whether the employer arranged for pension contributions are currently calculated by reference to the pre or post sacrificed salary;
- For the employee the following points will need to be considered:
- Annual allowance;
- Lifetime allowance; and
- Increase in pension contributions
- The impact on earnings related State benefits and other salary linked entitlements.
The following are key action points you should be considering:
- Employers who are affected by the changes should consider responding to the consultation in respect of the draft legislation. The consultation period is due to end on 30 January 2017;
- Advise employees that tax efficient salary sacrifice arrangements are due to come to an end and whilst there are transitional rules in place until 2018 (extended to 2021 for selected benefit arrangements) the likelihood is that the current year’s arrangement will be last which can be provided via an effective salary sacrifice arrangement;
- Consider varying the existing arrangements before April 5th 2017 in order to fully maximise the transitional period;
- Arrange for any new participants to enter into arrangements before April 5th 2017;
- Advise employees that salary sacrifice can continue, or be introduced in respect of favoured and intangible benefits;
- For employers with a payroll cost of £3 million or more it will also be necessary to take into account the impact of the apprenticeship levy which is due to commence on 6 April 2017; and
- Where employers are not already doing so, consider offering salary sacrifice in respect of pension contributions, as well as the other favoured benefits.
The changes within the draft legislation are far reaching, going beyond preventing the use of salary sacrifice arrangements in the future. It will require employers to review their existing arrangements and consider the impact the new legislation will present to you.
Nick Bustin, is director of employment tax at haysmacintyre.
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By: Allan J. Hayes
SB 118 amends the age limit on the current autism coverage statute (O.C.G.A. § 33-24-59.10). As finally passed, the bill requires coverage for an individual covered under a policy or contract who is 20 years of age (previously 6) or under. Also, as amended the bill removes the requirement that coverage for prescription drugs for the treatment of autism spectrum disorders shall be in the same manner as coverage for prescription drugs for the treatment of any other illness under the policy, and increases the annual limit on ABA to $35,000
HB 818 provides that contracts between a health insurer or its contracted vendor or a care management organization and a health care provider shall not contain restrictions on methods of payment to the provider in which the only acceptable payment method is a credit card payment. Prior to initiating or changing payments to a health care provider using electronic funds transfer payments, including virtual credit card payments, a plan shall notify the provider of all fees associated with a payment method, and provide clear instructions as to how to select an alternative payment method.
HB 783 provides for modernization and updates of the Official Code of Georgia Annotated for purposes of conformity. Also provides that any assets of the Commission on the Georgia Health Insurance Risk Pool existing as of June 30, 2018, shall devolve by operation of law and without further action on July 1, 2018. Any liabilities and obligations of Commission 2018, shall be transferred to and assumed by the State of Georgia, by such instruments as may be required to maintain the same.
HB 769 amends statutes regarding institutional and hospital pharmacies regarding remote order entries. Provides that remote orders must be made by a pharmacist licensed in the state but does not have to be in the state. Authorizes remote orders when the licensed pharmacist will be physically present in the hospital pharmacy within 48 hours (previously 24) and removes the requirement that at least one licensed pharmacist be physically present in the hospital pharmacy. Also provides for the establishment of the Rural Center for Health Care Innovation and Sustainability, revises provisions relative to certificate of need, establishes micro-hospital definitions, and provides a grant program for insurance premium assistance for physicians practicing in medically underserved rural areas of the state.
HB 64 requires any carrier that issues a health benefit plan in this state through an agent to pay a commission to such agent and shall not structure such commission in a way that directly or indirectly discriminates in the amount of compensation paid to such agent for the sale of a group health benefit plan or for the sale of an individual health benefit plan. Such commission shall be structured to compensate the agent for the first term and for each renewal term thereafter, so long as such agent reviews coverage and provides ongoing customer service for such plan; provided, however, that no such compensation shall be required for any individual health benefit plan sold during a special enrollment period. This shall not apply to renewals of any individual health benefit plan sold during a special enrollment period that renews during the open enrollment period. Nothing shall be construed to require a carrier to pay a commission to an agent who is employed by such carrier.
HB 782 authorizes the Georgia Drugs and Narcotics Agency to request prescription information to a prescription drug monitoring program operated by a government entity in another state or an electronic medical records system operated by a prescriber or health care facility, provided the program or system, as determined by the department, contains legal, administrative, technical, and physical safeguards that meet or exceed the security measures of the department for the operation of the PDMP.
HB 513 allows the Department of Community Health to promulgate rules for a sign to be developed and posted at any medical facility, fire station, or police station to inform the public that the facility is an authorized safe place to leave a newborn child. This is to prevent injuries and deaths of newborn children who are abandoned.
HB 701 amends definitions for drug testing for state employment to allow testing for all forms of opioids. It shall not be defined as an “illegal drug” pursuant to a valid prescription or when used as otherwise authorized by state or federal law.
HB 769 implements recommendations from the House Rural Development Council relating to health care issues. The bill revises provisions relative to pharmacy practices, as well as provisions relative to credentialing and billing. This legislation provides for the establishment of the Rural Health System Innovation Center and the establishment of micro-hospitals. Also, HB 769 provides for a grant program for insurance premium assistance for physicians practicing in medically underserved rural areas of the state. The bill also increases the value of the tax credit to 100 percent related to contributions to rural hospital organizations.
SB 357 establishes the Health Coordination and Innovation Council of the State of Georgia. The council will create a forum for innovative ideas, evaluation, maximization of resources, and an organized health care approach.
SB 364 authorizes a higher supervisory ratio for physician assistants who have completed a board-approved anesthesiologist assistant program. No primary supervising physician shall have more than eight physician assistants who have completed a board-approved anesthesiologist assistant program licensed to him or her at a time.
HB 257 streamlines the reporting process for local government authorities to file their statutorily-required reports to the Department of Community Affairs. It also narrows the dates of reporting from two dates to one.
HB 489 requires the use of the Georgia Procurement Registry for advertisement of bid opportunities for goods and services and public works construction contracts by a county, city, or local board of education. The registry will be free to use by the local government.
HB 618 is a bill to incorporate the city of Skidaway Island.
HB 626 is a bill to create the city of Sharon Springs.
HB 899 removes the disqualification of bidders without experience with the “construction delivery method” when awarding contracts for public works projects through sealed competitive bids.
HB 995 provides a process for a consultant to disclose any conflicts of interest when contracting for services with a local governing authority.
SB 263 authorizes a local referendum for the creation of the city of Eagles Landing.
SB 397 allows counties and cities to contract with real estate agents or brokers to market county or city-owned property.
SB 404 prohibits local governing authorities from charging a separate fee for standby water service for fire sprinkler systems.
HB 381 creates the ‘Abandoned Mobile Home Act’ to provide counties and municipalities with the authority to appoint an agent to determine the condition of a mobile home and how to dispose of the property. The bill also establishes procedures for a landowner to follow if the landowner wishes to remove an abandoned mobile home from his or her property.
HB 64 requires insurance carriers that sell health insurance through an insurance agent to provide the agent with a commission that is consistent with the amount proposed in the rates filed with the Department of Insurance.
HB 592 repeals the sunset on the compliance self-evaluative privilege for insurance companies. This privilege allows insurance companies to fix issues arising from an internal audit without suffering reprisal by regulators for the original mistake.
HB 754 allows a Georgia domestic insurer to divide into two or more insurers and allocate assets and obligations, including insurance or reinsurance policies, to the new company. It does so by creating a process that is distinct from a merger, consolidation, dissolution, or formation.
HB 760 allows property and causality insurers, at the time of policy renewal, to simply notify the insured of reduction of coverage in the policy without having to cancel the existing policy and offer a new one.
HB 878 allows insurers and/or insurance agencies to let their insureds cancel their policy over the telephone.
HB 938 provides for a limited credit insurance agency license for the specific purpose of selling credit insurance.
SB 350 updates Georgia law regarding the notice requirements for an insurance company or agent to their policyholders in the case of policy renewal to comport with federal law.
SB 381 provides that a non-admitted insurer domiciled in this state is deemed a domestic surplus lines insurer, if all qualifications are met, and can sell surplus line products in Georgia.
SB 369 authorizes the clerk of court to collect a $5.00 fee when an individual enrolls in a pretrial diversion program, and to submit those monies to the secretary-treasurer of the Peace Officer’s Annuity and Benefit Fund.
SB 407 constitutes the reforms and recommendations offered by the Criminal Justice Coordinating Council. The bill allows the Criminal Case Data Exchange Board to create rules concerning e filing in superior and state court criminal cases after January 1, 2019. In addition, all civil complaints in superior and state court are to be filed electronically after July 1, 2019.
HB 978 amends the Code relating to school buses to make it lawful for drivers who meet or pass school buses on a highway with separate roadways or a divided highway, including but not limited to, a highway divided by a turn lane. The bill also allows for the use cameras on school buses to be operated, maintained, or leased to a law enforcement agency and for the recorded images to be reviewed by the agent who provides this service to law enforcement. The bill further allows for placement of an automatic traffic enforcement device within a school zone after the school has applied for a permit from the Department of Transportation for the use of such device.
HB 419 expands the ability for local governments to regulate the ignition of fireworks through local noise ordinances. The bill adds Memorial Day weekend and Labor Day as holidays when local ordinance cannot prevent fireworks from being ignited; however, when areas of the state come under drought conditions, the governor can restrict the use of fireworks. Also, all dealers of fireworks must post the license authorizing the dealer to sell fireworks.
SB 17 allows for a local referendum to lower the initial time to allow for Sunday sales of alcohol from 12:30 p.m. to 11:00 a.m. for any licensed establishment that derives at least 50 percent of annual gross sales from the sale of food or a licensed establishment that derives 50 percent of annual gross income from the rental of rooms for overnight lodging.
HB 930 creates the Atlanta-region Transit Link “ATL” Authority. This authority is attached to the Georgia Regional Transportation Authority (GRTA) for administrative purposes and will serve as the transit planning organization for the 13-county metro Atlanta region. The region is comprised of the counties currently under the jurisdiction of GRTA: Cherokee, Clayton, Coweta, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Henry, Paulding, and Rockdale Counties. The bill establishes the governance structure of the ATL, as well as funding mechanisms. The ATL oversees all transit planning, funding, and operations within the region.
HB 658 extends the sunset date to December 31, 2053 for the eight percent hotel/motel tax allowed in a county where a coliseum and exhibit hall authority were created on January 1,1991.
HB 820 amends Article 2 of Chapter 5 of Title 48, relating to property tax exemptions and deferral, by adding a new section which allows a homestead exemption from the ad valorem taxes for municipal purposes in an amount equal to the amount by which the current year assessed value exceeds the adjusted base year value of the homestead.
HB 918 is the “Largest Tax Cut in Georgia History.” It includes the following changes:
The bill also doubles the state income tax standard deduction to $4,600 for single filers, $3,000 for married filing separately, and $6,000 for married filing jointly. The top personal income tax bracket rate and the corporate income tax rate are reduced to 5.75 percent in tax year 2019 and 5.50 percent in tax year 2020. The rate reduction for 2020 is dependent upon the General Assembly passing a joint resolution affirming the change and the resolution being signed by the governor. The changes in this bill expire on December 31, 2025. The bill also states that there shall be no liability for title ad valorem tax fees when obtaining a replacement title on a vehicle that is not less than 15-years old when the commissioner of the Department of Revenue is provided proof that the title no longer exists.
HB 684 is the $26.2 billion Fiscal Year 2019 budget. Highlights include:
If you have any questions or would like more information, please contact Allan Hayes at [email protected].
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Lottery is an activity where a random drawing is used to determine winners of a prize. The winner may be given a fixed amount of money or goods, or other prizes such as a vacation, cars or housing. Lottery is a popular way to raise funds for public purposes such as building schools and hospitals, or providing financial assistance to the poor. It is also a form of gambling, which is often illegal, but is widely accepted in many countries and is regarded as a low-risk activity with a high potential reward.
The lottery is a good way to raise large sums of money quickly, but it is not without its risks. It is considered to be addictive, and people who play it can find themselves spending more and more money, sometimes even sacrificing their financial stability in the process. There are also stories of people who become less happy after winning the lottery, which is not surprising considering that it is a form of gambling that relies on luck.
In the past, lottery tickets were usually sold in shops and other public places. The earliest records of lotteries were found in the Low Countries, where towns would hold public lotteries to raise money for town fortifications or to help the poor. These early lotteries were often accompanied by music and food, making them more like dinner parties than a traditional gambling game.
Lotteries have a long history, and people have been drawn to them for centuries. Some people argue that the lottery is a form of taxation, but it is not as transparent as a normal tax. The amount of money that is awarded in prizes is deducted from the total pool before it is distributed to the winners, and a percentage of the total pool is normally used for organizing and promoting the lottery.
Although there are no guarantees, some experts say that you can increase your chances of winning the lottery by using a proven strategy. For example, you should choose numbers that are not in a group, and avoid numbers that end with the same digit. Another method is to buy Quick Picks, which are a combination of numbers that have been drawn in previous drawings. You can also try to select numbers that are not very common, so that you will have a greater chance of winning if you do win.
Many states run their own lotteries, and the proceeds are used for various public services. However, there are some critics who believe that the state should not be in the business of running a lottery, as it can be addictive and lead to financial ruin. There are also concerns about the effect that the lottery has on lower-income families, as it encourages them to spend more of their income on tickets and other related expenses. In addition, lottery revenues are often a hidden tax on consumers, and they can eat into the amount of money that is available for other priorities such as education.
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