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Tuesday, March 31, 2009

Obama's Government - Updates

A few blogs that I read on some blog regarding the Obama after he came into power.

GM's CEO Wagoner steps down after a behest of Obama's Government
Obama's "Industrialists"
Obama's Earmark Reform? ShamWow!

Tell me what you think about these blogs.

Monday, March 30, 2009

The Crash of 2009 Is COMING To YOU!!


The biggest immediate problem I foresee is what is going to happen to the unemployed when they run out of bennies? Are they going to be forced to rob you or me? Me thinks so. Is this the fema camp first candidates?I hope they take the meth freaks while they are at it. We need Jobs morons . And give good business plan people startup bread for small american industry. End the fed but how? Let's get organized soon or perish

Poor Credit Score? Find The Best Bad Credit Card

Having a poor credit rating can badly limit your choices of credit cards. Most credit card companies are likely to turn down your applications, making things hard for you at a time when you most need a credit card. luckily though, that’s not the end of it as you have another alternative of bad credit cards. logically, this is a momentary solution until you can get back on your feet. Bad credit cards can also be used to help you recover your credit score, as long as you pay your credit card bills on time, that is. The only drawback to this would evidently be the higher than usual APR interests.
Nevertheless, if you are willing to give collateral to the credit card company, you may qualify for a secured bad credit card with a lower APR. This way, you can still earn interests on your collateral, and at the same time enjoy good rates. The downside is you may be charged other fees such as annual fees or start up fees.
Before you apply for a bad credit card, it is wise to do your homework first. As bad credit cards are usually offered to those with poor credit ratings, the APR would unlikely be low. Thus, comparing the various offers of bad credit cards out there would be a wise move.
One of the main factors of thought includes the upfront fees that credit card companies would charge you. In order to make a sensible evaluation, it’s best that you have a plan to pay off your debt before your interests snowball. Other factors that you can use to help you make a better decision would be to evaluate the reward programs that your bad credit card can offer. If you are entitled for retail discounts at specific retail stores when you charge to your bad credit card, this would be even more enticing.
With all these factors to consider, it is clear that you should look around before you apply for a bad credit card. Compare and contrast the various fees and rates of the candidate companies. Only after careful thought should you take the next move and submit your application.

Friday, March 20, 2009

TREASURIES-Bonds rise with support from Fed purchase program

*Fed's Treasury purchase program further supports bonds

*Gains limited by uncertainty on appropriate yield levels

*Fed's announcement has dramatically flattened yield curve

By Chris Reese

NEW YORK, March 20 (Reuters) - U.S. Treasury debt prices rose on Friday with more support from the Federal Reserve's plan to buy government debt, which has set benchmark yields on track for their biggest weekly fall this year.

The Fed surprised investors on Wednesday when it announced it will buy up to $300 billion of longer-dated Treasuries over the next six months in an attempt to fuel economic activity. Treasuries prices surged, with the benchmark yield falling nearly 50 basis points.

"The Treasury market is still trying to come to grips with the shock (Fed) statement on Wednesday," said William O'Donnell, strategist at UBS in Stamford, Connecticut.

Benchmark 10-year notes were trading 9/32 higher in price for a yield of 2.58 percent, down from 2.61 percent late on Thursday. Benchmark yields ended last week at 2.90 percent, and are set for the biggest weekly dip since late December.

The two-year note was 1/32 higher for a yield of 0.84 percent from 0.87 percent.

Price gains were limited, however, with some investor uncertainty about where yields should be given the central bank's bond purchase plans.

"We're not terribly surprised to see Treasury 10-year yields hovering as traders take stock of what has really happened this week," O'Donnell said.

The Fed's announcement also spurred a marked flattening of the Treasury curve, with the spread between the yield on two-year notes and 10-year notes narrowing to 174 basis points on Friday from 198 basis points late on Tuesday.

Five-year Treasury notes were trading 4/32 higher in price for a yield of 1.61 percent, down from 1.64 percent late on Thursday, while the 30-year bond was 1/32 higher for a yield of 3.63 percent.

The long bond has not experienced the same price benefits as the 10-year note, as the New York Fed said the Treasury purchases would focus on maturities between two and 10 years.

Reputable Lender

The steps of getting a mortgage or home loan can be very stressful and quite overwhelming. Finding the best lender for your circumstances requires research and comparisons between lenders and loan packages. You may be looking for a first time home loan or to refinance your existing mortgage. Compare lenders cautiously and find the best possible terms available for you.

If you have bad credit, you will have to pay a higher rate of interest than those with good credit. Your down payment amount will also affect the interest rate you receive. The bigger the down payment, the lower the interest rate. A small down payment will mean you pay more interest and your payments will be higher. You can get either a variable interest rate that changes over the length of your mortgage or a fixed rate that never changes. Do not falter to ask questions of your lender and make certain you clearly understand the terms offered to you.

One more thing to keep in mind is that the amount of interest you will pay on your home loan not only depends on your credit score, but your debt-to-income ratio as well. This is the amount of money you make each month as compared to the amount of your monthly debt. Car payments, student loans, and credit card balances are all considered in determining your debt-to-income ratio. If your monthly income barely pays your monthly expenses, you will pay a higher interest rate than someone who's income surpasses their monthly obligations. Mortgage lending is a highly competitive industry and lenders are offering a variety of loan packages to fit almost any income level and credit rating.

You may want to consider choosing a home loan provider before you start shopping for a home. This will allow you to determine in advance how much you can spend on your new home. Pre-qualifying for a home loan can save you time and trouble while you go through the process of buying a home. A pre-approval is an excellent tool when making an offer to buy a home. Sellers like the security of knowing your mortgage is already approved and will often negotiate with a pre-approved buyer more readily than with a buyer who must search for a lender after making an offer to purchase the home.

Thursday, March 19, 2009

Health Insurance

Health insurance is basically medical risk prevention/protection mediated through a contract between the insurance provider and the user for a set premium.

There about four types of health policies available to consumers: health maintenance (HMOs), the point of service plan, the preferred provider organization, and the traditional individual health indemnity plan. These plans vary in their respective prices and available services.

At first glance, an indemnity health insurance plan may seem to hand policy holders the short end of the stick. After all, this type of insurance tends to pay less toward health care claims than a managed-care plan. Additionally, the policy holder generally pays more out-of-pocket and has to deal with more paperwork when it comes time to file a claim

However, for a great number of people, indemnity is the undeniable way to go. Individuals may choose indemnity plans because they have favored health care providers who are not part of a managed-care network, or because they travel a lot and need the flexibility to seek care away from home, or for any number of other reasons. What makes an indemnity plan the right choice is different from one consumer to the next.

What primarily separates an indemnity plan from a managed-care plan is the presence or absence of a provider network. A managed-care plan comes with a network of health care providers who have arranged with the insurance company to provide their services at an agreed-upon rate. This allows the insurance company to know how much to expect to pay for any given service. It also allows the provider to know to some extent which services will be covered and the corresponding level of coverage. Because the insurance company has made prior arrangements with these providers, paperwork can be filed directly between the provider and the insurance company. The insurance company pays the provider directly for care, requiring the policy holder to pay only a small percentage of coinsurance or minimal co-pay amount out-of-pocket.

Automobile Insurance

There are three factors that may dictate the need for insurance: first time automobile buyer, state of residence plus process of payment. Typically first-time automobile buyers have to purchase some kind of insurance because they are presumed to not have any preexisting automobile insurance. Certain states also require automobile buyers to have insurance before driving the automobile off the dealer's lot. Buyers financing their vehicles through particular lenders may also need to have the vehicle insured in order to protect their interest.

First off, evaluate your commitments in order to determine the proper liability limits. Doing so may protect your assets in case of lawsuit thereby insulating your relatives and/or business from potential harm. The second consideration pertains to whether or not you mind paying higher deductibles, if you do not then you may be able to lower your premiums. You also may require to look into the optional areas of coverage in certain plans in order to maximize your protection. Lastly, before choosing a company, consider value. Companies that have greater financial security but are a bit more pricey may prove to be more valuable in the long run.

Friday, March 13, 2009

Debt Relief Information

With the state of today's economy, consumer debt is mounting. If you’re looking for debt relief, you’re not alone. Hundreds of thousands of people seek some sort of relief every year. For most people, it’s a simple debt consolidation or refinance loan designed to reduce interest or monthly payments. Other people need more serious kinds of help, in which case credit counseling, a debt management program, or debt settlement might be appropriate.

US split deepens before G20 finance talks

World finance chiefs prepared for a ministerial meeting of the G20 leading economies near London on Saturday that threatens to expose deep divisions over how to halt the raging economic crisis.
Just three weeks before a gathering of heads of state from the Group of 20, discord seems to outweigh lip service to coordination and a German-French drive to focus on cross-border rules for finance is further souring the air.
"We have agreed that Germany and France will send a common signal at this summit" on April 2, German Chancellor Angela Merkel said at a joint press conference with French President Nicolas Sarkozy in Berlin.
"The issue is not spending even more but to put in place a regulatory system to prevent the economic catastrophe that the world is experiencing from being repeated," Merkel said in a direct rebuttal to US calls for more spending.
There must be "regulation and transparency of financial markets," she said.
US President Barack Obama, who enacted a 787-billion-dollar stimulus bill last month, tried to bridge the gap on Wednesday, calling for a two-pronged G20 effort to fix the global economy: stimulus measures and regulatory reforms.
But after a meeting of eurozone finance ministers this week, their chairman Prime Minister Jean-Claude Juncker of Luxembourg rejected the US calls for more pump-priming by other G20 economies, declaring such proposals "do not suit us."
Juncker after conferring with Czech officials in Prague on Thursday again voiced opposition to any additional spending plan to combat the crisis.
"The European recovery programme represents a spending level of 3.4 to 4.0 percent of GDP," he said.

"Our public finances are beginning to suffer and we must take account of the effects these programmes will have in 2009 and 2010 before we undertake additional spending."
The US stimulus is substantially more than the 400 billion euros engaged by 27 EU countries. The two total economies are of comparable size, but the EU has not forged an integrated response.
US Treasury Secretary Timothy Geithner has also called for the International Monetary Fund's "New Arrangements to Borrow" credit programme to be boosted to 500 billion dollars -- far more than proposed by the Europeans.
For the whole of 2009, Britain is chairing meetings of the G20 -- a grouping of 19 developed and developing countries plus the European Union that includes China, Germany, Japan, Mexico, Turkey and the United States.

Thursday, March 12, 2009

What do I need to consider if I want to consolidate my debt?

The one thing you need to consider regarding debt consolidation is whether or not you can aggressively start paying off your debt via debt consolidation. Remember, debt consolidation doesn’t reduce your debt; it just helps it be more manageable. So, you need to analyze your finances to see if you can truly start paying off your debt. See where you can cut back on your expenses. You’re going to have to make some personal sacrifices if you want to get out of debt. If even after you analyze your finances and you just can’t seem to set aside enough each month to significantly pay down your debt, debt consolidation might not be the solution for you. In this case, you’re going to want to consult a debt counselor.

What is debt consolidation?

Debt consolidation is a solution to stopping your debt from spiraling out of control. Debt consolidation doesn’t reduce your debt; it merely eliminates multiple high interest rates associated with debt from various lenders. A debt consolidation loan is one viable solution to consolidating your debt. In this situation, you basically get a loan to pay off all your various debt or get a better type of loan (changing from an ARM to a Fixed rate loan).

Debt Consolidation Terms

Before I start my blog on Debt Consolidation, let me explain some basic terms that you will need to know. 

Bankruptcy: a type of aggressive consumer debt resolution where you attempt to either liquidate your debts through a chapter 7 bankruptcy, or re-organize your debts into a payment plan through a chapter 13 bankruptcy. 

Collection Agency: a company hired by a creditor to collect a debt that it is owed. If you are seeking bankruptcy advice, it is wise to seek advice from a local bankruptcy attorney.

Credit Counseling: a third party managed payoff strategy where your interest rates are lowered to the bank's concession rate and thereby your monthly payments decline. Typically, a credit counseling program runs around five years to getting debt free, but each consumer's experience depends on their own creditors and the size of their payments.

Credit Score: a measure of credit worthiness. Typically, it is a guage of a consumer's likelihood to default on a future credit line. FICO is the industry standard measure of a credit score, which is primarily based on payment history, debt utlization, and the amount of debt owed.

Debt Consolidation: taking multiple debt or credit lines and consolidating them into one new payoff plan. Frequently, this is a consolidation loan, provided to consolidate debts into one loan with one payment, typically shifting credit card debts to secured debt by refinancing a mortgage. It could also refer to a credit counseling or debt settlement program.

Debt Management: a service provided by an agency that provides debt help services, including credit counseling, debt settlment, and debt consolidation loans. Most people refer to a Debt Management Plan as a plan administered by a credit counseling firm.

Debt Settlement: a program for negotiating and settling consumer debt to a discount to face value. Frequently, resulting in lower payments, lower debts, and a short period to debt freedom while avoiding bankruptcy.

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