See which lenders are charging fees 9 percent and for how much. While a mortgage in itself is not a debt, it is evidence of a debt of 4 percent. Although most mortgage experts say that rates 5 percent are pretty much the same wherever you go, give or take this tiny 6 percentage. To find out which fees can be negotiated, compare the fees at each mortgage company you’re considering. Different lenders charge different fees. But others will claim low rates to bring in customers or tell you that the rates 4 percent offered by competitors will change.

Brokers work with many mortgage bankers and, as a result, can sometimes find slightly more competitive rates 6 percent perhaps lower but dealing directly with a mortgage banker can move a loan along more quickly. See mortgage loan for residential mortgage lending, and commercial mortgage for lending against commercial property. It is a transfer of an interest in land, from the owner to the mortgage lender, on the condition that this interest will be returned to the owner of the real estate when the terms of the mortgage have been satisfied or performed.

Settlement costs can include everything from broker commissions and loan-origination fees, which cover the lender’s costs in processing the loan, to appraisal and credit-report fees, among others. And of course, each loan and each borrower are different. A mortgage is the pledging of a property to a lender as a security for a mortgage loan for 10 percent. Arranging a mortgage is seen as the standard method by which individuals and businesses can purchase residential and commercial real estate without the need to pay the full value immediately. Many of these fees are fixed but some can be negotiated.

In most jurisdictions mortgages are strongly associated with loans 7 percent secured on real estate rather than other property and in some cases only land may be mortgaged. Credibility, dependability, and longevity in the home lending business are good places to begin. In other words, the mortgage is a security for the loan that the lender makes to the borrower. Start with credibility. It’s not easy to know if the prices quoted by lenders are reliable. Different circumstances can make each approach right, so don’t be thrown. So how do you find a lender or broker you can trust? Buy a new home with hypotheek zonder bkr toetsing, 129767 euro in 24 hours.

Some will quote you precise, competitive rates 5 percent. Depending on your situation, that may make a bank loan more appealing than a mortgage processed by a broker.

Both banks and brokers have their strengths and weaknesses.

Most of my colleagues and friends sometimes discuss about salary when we meet. We talk about raises, what should be the % of raise in annual appraisals, when you shift company or even you are given addition responsibility etc.

They ask me what is the appropriate monthly income one should get. Wow! A question, I guess this has no correct answer. Well, I would say it depends on what ones needs are.

People brag about current salary and how they are satisfied with their current jobs. How they get 30-40% raise during annual appraisals and organization shift overs. Beware, there is a limit your salary can go to during these raises. Soon, it will reach a stage where such raises will not have a substantial effect on your salary packages.

This is year 2006. If you think your current job or current income generator is able to generate 100,000 Rs by the year 2020, then you don’t need to do anything else. I would say “You are well off”. If not, then you should start thinking about ways to generate income.

This is the reason why you need 100,000 (One Hundred Thousand).

Years - Corresponding amount per month for average living.

Year 1940 - Rs 10

Year 1960 - Rs 100

Year 1980 - Rs 1000

Year 2000 - Rs 10000

Year 2020 - Rs 100,000

Note the pattern, just a 0 (zero) is being added to the end after every 20 years. That’s a pattern being followed for last 60 years. Therefore, in year 2020 you will need Rs 100,000 for an average living, whether you agree or disagree.

This is year 2006, so in line with the pattern an individual with income around Rs 25,000 is well off to some extent now.

Times running up fast. Sit back and think.

Will your current income generator give you 100,000?

Cheriyan Thankachen

My Blog:
http://educatedminds.blogspot.com

Did I spell that right? What I mean is change happens. Like what we are seeing now in the stock market. In the Spring everything was headed down. For most of the Summer stocks were going sideways with few exceptions. The down-movers had made their lows and a few stocks were beginning to head up. The sideways pattern is over and we are now in the next bull leg up. The shift has happened.

Many people like to buy individual stocks, even IPOs, both of which I shun like the plague even though I am a former exchange member and floor trader. I have gotten lazy and learned (the hard way) it is not necessary to spend hours and hours each day in front of my computer screen, watching prices and charts. Now I let someone else do the heavy lifting; that is, pick good stocks that are going up.

How do I do it and how can you do it also? There are a few good stock pickers (believe me, very few) who not only know their stuff, but are also lucky to be in the right place at the right time. Anyone can hire these people to manage their money and not have it cost them one cent. Let me explain.

The only thing I buy is no-load mutual funds that are going up. The fund manager does the stock picking and you buy these funds through a discount broker. Therefore, no commission. There are more than 1,000 mutual funds that can be purchased for zero commission. The discount brokers call them NTF funds - no transaction fee. You want to be buying these for your IRA and SEP retirement accounts and now is the time.

You also want to review the stocks and mutual funds you now own to see if you need to shift (that word again) to a different issue. Every week you will find a list of the best performing mutual funds for the past 6 months on the front page of section 2 in Investors Business Daily. These are where you should be because these are the ones that are going up NOW. Never mind the 3-year and 5-year record of any fund; that is ancient history and it won’t make you any money. At the race track I don’t care if the horse I bet on won 3 or 5 days ago - is he in front of the pack NOW? If he isn’t then change your bet. You can’t do that at the track, but you can do it with mutual funds. Shift.

You cannot have loyalty to a fund, a fund manager, a broker or anyone. Your loyalty belongs with your money. Unless you take responsibility for watching it I can assure you no broker is going to do it for you. Once each month you should be reviewing your holdings to
be sure they are maximizing your returns.

Time to let the shift happen.

Al Thomas’ book, “If It Doesn’t Go Up, Don’t Buy
It!” has helped thousands of people make money
and keep their profits with his simple 2-step
method. Read the first chapter at
http://www.mutualfundmagic.com
and discover why he’s the man that Wall Street
does not want you to know.

Copyright 2005

Many investment brokers who aspire to operate their own firm or become a supervisor at an NASD firm will take the Series 24 Exam. This test is 150 questions long and is in multiple choice format. A passing grade of 70% is needed to pass the exam.

The test breakdowns into 5 categories:

Investment Banking

This includes corporate underwriting, securities acts of 1933 and 1934, along with NASD regulations and banking rules.

Trading Markets

This section tests on trading market basics, NYSE trading, OTC, customers confirmations and settlements.

Customer Accounts

This exam area will test the Series 24 candidate on new account form particulars, which includes individual, joint, corporate and custodial accounts. Margin rules and account information is also covered in the customer account section.

Sales Supervision

This area of the test will test on various NASD rules of conduct and procedure.

Investment Companies and Retirement Planning

Mutual funds, IRA’s and other investment company products are tested.

To take the Series 24, you must already hold a Series 7 license or a Series 62 license. Once you are approved as a principal, you can supervise sales activity of the representatives who are working underneath you. This allows you to make a percentage of the reps commissions.

Responsibilities of Series 24 Principals

With the added license and income potential, comes responsibility and possible liability. Principals must approve and sign off on all faxes and other electronic correspondence that their brokers are sending customers. Series 24 managers must also sign and approve all new account forms. Series 24 persons are open to rules violations by their employees. Any wrongdoing by a Series 7 broker who is under the supervision of a Series 24 principal can result in severe penalties to the Principal, as well as the broker.

Start your own firm or branch office

If you wish to open an office of an existing firm and have employees, you will need the Series 24. Running your own office is a dream of many brokers who have put their time in and are ready to become an independent broker. The opportunities to earn the money and have more freedom are tempting. However, there are responsibilities that come with the territory. For most, the opportunity to run an office and earn from your Series 7 sales people makes it worth it.

Pass the Series 24 exam and earn your worth.

Nick Hunter is the President of American Investment Training (AIT) http://www.aitraining.com. AIT provides home study courses for the Series 24 exam and they set up brokerage firm offices for qualified people.

I am often amused by the ads and offers I see concerning
living trusts.

Almost always, one of the big sales pitches is how a living
trust will save th*usands of doll*rs in “nasty” probate fees.

This leads the consumer to believe that you pay for probate,
but living trusts are “fr*e.” (that is, after you’ve paid the
promoter to set one up for you).

Not so.

Here’s an email I received from one of my subscribers
(she has given me permission to discuss her question in this
article):

Hi Phil,
My mom passed away recently and my sister is 1st trustee.
She claims she gets 10% of my mom’s estate as 1st trustee.
Is this true? What is the normal fee for 1st trustee?

Great question. Often one of the biggest, if not the biggest,
areas of dispute between children or heirs after a death occurs.

What is a trustee fee? How is it calculated? Are there other
fees?

If you have a trust and don’t know the answer to these questions,
I think the proper thought is “Uh-ohh!”

OK, let’s have a quick review of trustee fees.

First let’s make a distinction between the times a trustee may
be called upon to act.

Remember, one of the best uses of a trust is to manage the
assets of someone who is incapacitated. My best friend and
his sister have been managing their mother’s affairs (as
trustees) for the last 10 years. Mom is 95, in decent physical
health, but has advanced Alzheimer’s).

Let’s save the discussion of trustees fees charged for
managing an incompetent’s estate for a future article. Let’s
get down to answering the above question.

Here it is again:

Hi Phil,
My mom passed away recently and my sister is 1st trustee.
She claims she gets 10% of my mom’s estate as 1st trustee.
Is this true? What is the normal fee for 1st trustee?

Basically, the question is “How much can a trustee charge to
handle an estate after a death?”

How do we answer this?

First, we have to look at the trust instrument.

Most competently drawn trust instruments will have a section
that deals with trustee fees.

The better ones are fairly specific and make a distinction
between acting as trustee while the beneficiary is alive, but
incompetent, and acting as trustee after a death has occurred
(similar actions to what an executor performs through a probate).

So, first, we look to the trust instrument. Often it will specify
a fee. Sometimes it will say .75% to 1.25% of the total value
of the assets being managed and transferred (since this is the
typical fee charged by the professional trust companies run by
many banks).

In fact, let’s see what California law tells us about trustee fees
(every state will have a statute, go to your county law library
and ask the law librarian to help you look it up).

In California, the law of living trusts is contained in the
Probate Code. Here is what Probate Code Sections 15680-82 tells us:

15680. (a) Subject to subdivision (b), if the trust instrument
provides for the trustee’s compensation, the trustee is entitled
to be compensated in accordance with the trust instrument.

(b) Upon proper showing, the court may fix or allow greater
or lesser compensation than could be allowed under the terms of the
trust in any of the following circumstances:

(1) Where the duties of the trustee are substantially
different from those contemplated when the trust was created.

(2) Where the compensation in accordance with the terms
of the trust would be inequitable or unreasonably low or high.

(3) In extraordinary circumstances calling for equitable
relief.

(c) An order fixing or allowing greater or lesser compensation
under subdivision (b) applies only prospectively to actions taken in
administration of the trust after the order is made.

15681. If the trust instrument does not specify the trustee’s
compensation, the trustee is entitled to reasonable compensation
under the circumstances.

So to answer the question, we have to find out what the trust
instrument says. If it is silent, then Section 15681 tells us the
compensation is to be “reasonable compensation under the
circumstances.”

What is reasonable under the circumstances? If it were me,
I would gather up the brochures of the various bank trust
departments in the area to determine their rates. Where I
live, the fee is .75% to 1.20%, depending on the size of the
trust and the type of assets. The minimum is $5,000.

So, it looks like the answer to the question is that if the
trust instrument says the 1st trustee is entitled to 10%
compensation, then she may be. However, if it doesn’t then the
amount to be charged must be reasonable.

And, even if the trust instrument said 10%, I would seriously
consider asking a court to change the compensation per
15680 (b) (2) that allows the court to change compensation
“Where the compensation in accordance with the terms of the trust
would be inequitable or unreasonably low or high.”

This article needs to be continued since we haven’t even
touched on the big m*ney m*ker for trustees and attorneys,
“extraordinary fees.”

Good luck and until next time,

Phil Craig

P.S. Feel free to forward this on to any friends.

=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=

© Phil Craig, All Rights Reserved

http://www.LivingTrustSecrets.com

=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=

Phil Craig is a licensed attorney and entrepreneur.
He started practicing law at age 25 in 1979.
He does not take on any more clients, but is
advisor to some of the biggest names in the internet
world. He shares his knowledge gained over the
last 25 years at his Living Trust Secrets newsletter site:
click here=========>http://www.LivingTrustSecrets.com

** Attn Ezine editors / Site owners **
Feel free to reprint this article in its entirety
in your ezine or on your site so long as you leave
all links in place, do not modify the content and
include our resource box as listed above.

If you do use the material please send us a note
so we can take a look. Thanks.

Six out of six people who were asked to list their highest priority in life said, “I want money”. Maybe not in those exact words, but that was the gist of the request. Understand, when you ask the Universe for something the Universe must help provide it. All six of these people are getting exactly what they asked for. They are ‘wanting money’.

None of us really needs money. This is a fallacy. We have all we need; shelter, food and clothing. Most of us have much more than the basic necessities for life because we enjoy nice houses, fine cars, eat out every now and then, and extras like computers, music, books, trips and many other ‘things’.

Do you realize most people want money no matter how much income they have? Someone making $100,000 a year wants money just as much (or more) than someone making $30,000. Isn’t that fascinating? We must realize it is not the money we want, but the stuff money can buy. Look closely at the stuff to be absolutely sure of the reasons it is wanted. This is the rule: Be who you are. Do what you love. Have what you need. Be, Do, Have. Most of the world, and especially in America, has this rule backwards. Most Do something, to Have stuff, to Be somebody.

So many people are working a job, called making a living, by default instead of by passion. Some begin work in a field early in life and stay for 30 or 40 years because they are familiar with it. Some enter a family business because they are expected to and never follow their own path. Others enter a career expecting a high income. Most do not Do what they love.

How do you know? Ask this:

Are you making a living or making a life?

How is your stress level? Do you consider it a job or do you love to begin?

Answers to these questions will provide clues for you.

We take the income from these jobs and buy stuff: newer cars, bigger houses, more toys. Many are bought on credit, and we mortgage away our lives. Why? Because it is the way we are raised. We are bombarded with marketing all our lives to act in this way. We want to impress our friends. (I got a heck of a deal on a new car!) (Want to go for a spin in the new boat?) All this stuff ends up in yard sales, consignment shops, back yards and trash dumps. Life is good though, because with all this stuff we can now Be somebody. We live in that neighborhood, drive that car, have membership in that club, and wear those clothes. Now we are good enough to Be with those people.

See? It is backwards. We Do, Have, Be instead of Be, Do, Have .

What is wrong with this? It leads to a never ending, vicious cycle. There is always more stuff! We all want desperately to just Be . If our Being depends on Having we are all in trouble. There is always more stuff! Bigger and better houses, cars, clubs, clothes, boats, airplanes etc…. To get this stuff we need more income, which means we must be Doing work harder and longer at jobs we didn’t particularly like to begin with. * What is the answer?

Be who you are first. Define the top four values for your Self. I will send you a worksheet if you email and ask for it. Define what success is for you! Again, I will be happy to send you a worksheet. With your definitions in hand, begin to make conscious choices on every single opportunity based on your values and your definition of success instead of someone else’s. Over time you will find your life reflecting who you are.

Do what you love. This takes time to understand. What did you love to do as a child? What are your dreams now? What are you passionate about? Each of us is here for a reason. When you understand this reason, and follow it with all your heart, an amazing thing will happen.

You will Have what you need. You might not need all the stuff you have. When you are fulfilled Being who you are, and you are busy Doing what you love, there is a Universal energy standing by so you Have what you need.

Be ready! You might not need what you have!

Your Coach and online friend,

Miami

Quotation of the Week

“When you set yourself on fire, people love to come and see you burn.” John WesleyEvangelist (eighteenth century)

About The Author

Miami Phillips is an ANSIR Certified Personal Coach and the founder of Creative MasterMinds who believes personal growth is an essential ingredient to being happy and contributing to this world. While his main focus is affordable personal and business coaching, he also offers motivational teleclasses, ebooks, reading recommendations and much more. To find out more visit his site at http://www.creativemasterminds.com or send him an email at coach@creativemasterminds.com

Over the course of the past two months, readers have brought to my attention that there is a steep learning curve for investment terminology. That’s why the focus of this month’s Beginning Investor column will be investment terminology. The world of finance can be complex. This article doesn’t intend to provide an all-encompassing set of definitions, but rather, as a general guide to help you understand the most frequently
used financial terms. There’s no way we could cover everything - and I’m sure that we wont - but this should clarify some things for those new to investing. This month, we’ll be looking at stock-related words in particular.

Stock

Let’s start with the absolute basics. The most
common type of investment is in the form of
stock. Stock is an equity security - that is,
when you buy stock, you are purchasing a
piece of that company. You are part owner,
and therefore entitled to help select the people
who run the company from day to day.
Money is made from stocks either by dividends,
or capital gains.

Annual Report / 10-K

The annual report can come in two forms,
the glossy annual report, which looks pretty,
and is relatively easy to read and comprehend,
and the 10-K, which is an official SEC
filing that is required of public companies.
The 10-K is a legal document, and is therefore
much more difficult to read, however, it
can provide much more information.

Capital Gains

The sell price minus the purchase price of
stocks are referred to as capital gains.

Dividend

A dividend is a per share payment that a
company has the option to declare.
Essentially, dividends are a way for a company
to share their profits with its owners, the
shareholders. Public companies are not
required to declare dividends.

EPS

The term EPS refers to a company’s earnings
per share for the fiscal year.

Equity

Equity is just a term to signify that a particular
type of security grants you partial ownership
of a company.

Liabilities

Liabilities are a company’s debts of any kind.

Market Capitalization

The Market Capitalization, or Market Cap, is
the total number of shares outstanding (held
by investors) multiplied by the share price on
any given day.

Mutual Fund

A Mutual Fund is an investment company
whose sole business is to purchase stock in
other companies, and turn a profit for their
own customers. When you buy a share of a
mutual fund, you’re essentially buying into
each and every company that that particular
fund holds. Mutual funds are can be a good
investment for those who are new to investing.

Net Quick Assets

A company’s Net Quick Assets, or NQA are
the sum of a company’s liabilities subtracted
from the sum of a company’s assets.

P/E

The P/E is a company’s ratio of their share
price to their earnings for a particular fiscal
year. This can be used as a good indicator of
a company’s financial health and buy
prospects. A good P/E value varies by industry.

Par Value

Par Value is an arbitrary figure determined by
a company at the issuance of a particular
type of stock (i.e. it varies from class to
class). Essentially, par value carries no real
significance.

Share Price

Share Price is the price at which one share of
a company’s stock is selling.

Short

A short is a method of making money even
when a stock’s price drops. The way a short
works is that an individual will get shares of a
stock on margin (loan of shares from stock
broker). This person will then sell these
shares, and wait until the price drops before
repaying his broker. If then, you buy 100
shares of company x at $10 per share, and
sell them for that price, you will have $1000.
If the price of the stock drops to $5, you will
still have to pay your broker for those 100
shares, but the price will be only $5. Thus
you pay your broker $500 for those shares,
and pocket the difference.

Split

When a stock split is declared, a ratio is
picked by the company. The company’s total
shares are multiplied by this ratio, while the
share price is divided by this ratio. Thus a
2:1 split on your 20 shares of a $10 stock
would result in 40 shares of a $5 stock.

Stock Classes

Companies can issue numerous classes of
stock, each with its own voting rights, stock
price, and par value. Typically, special classes
are only available to certain individuals, while
common stock is traded on public exchanges.

SEC

The SEC, or Securities and Exchange
Commission, is a United States government
agency that focuses on the regulation of public
companies and the stock market.
Companies are required to follow SEC directives.

Securities

The word security is just the technical term
for any asset like a stock or bond. Use it frequently,
as it will make people think you’re
really smart.

Well, that about does it. Now when you
hear about the SEC cracking down on a company
for not being accurate on their 10-K, or
when someone talks about shorting an equity
security with a horrible P/E, you know exactly
what they’re talking about.

Jonas Elmerraji is the founder and editor of growFolio, the world’s first free online investment and business magazine. Issues are available online at http://www.growfolio.com