Using Home Equity to Finance Summer Projects by Jeff Hammerberg

Summertime is right around the corner. And with the right amount of cash on hand we can take full advantage of travel and vacations; complete a long list of to-do projects around the house, or pay for all those amenities, gadgets, and toys that make summer more enjoyable. But playing in the sun and surf … Continue reading “Using Home Equity to Finance Summer Projects by Jeff Hammerberg”

Summertime is right around the corner. And with the right amount of cash on hand we can take full advantage of travel and vacations; complete a long list of to-do projects around the house, or pay for all those amenities, gadgets, and toys that make summer more enjoyable.

But playing in the sun and surf usually shrinks our income rather than plumping it up, so the season always presents us with a challenging contradiction: Do we sacrifice our summer pleasures or wipe out our savings? Rather than succumb to the urge to depend on credit card debt to finance the fun and play now but pay later, it may be a better strategy to tap into the equity that is still hibernating within your home. That way you can have your cake and eat it too, by increasing your cash flow without necessarily putting your budget or savings at risk.

For some consumers, taking out a home equity loan or doing a mortgage refinance will actually increase their net savings. For example, if you are caught in an expensive interest-only or adjustable rate mortgage you can bail out by refinancing into a safer and less expensive 30-year fixed rate mortgage. Those who are getting walloped by credit card interest can take out a less expensive home equity loan as a good way to consolidate and pay off those double-digit credit card rates.

Just calculate the average of the rates you?re paying now and compare that to available home equity or refinance rates to determine your savings. If you are paying 16 percent in credit card interest and can qualify for an 8 percent equity loan, for example, you?ll automatically save 8 percent. And if you have an adjustable rate mortgage about to reset, you can refinance to a fixed rate in time to avoid the spike in your monthly installments. You?ll pay some closing costs to refinance, but you can also calculate your savings rate on those by dividing your costs by the amount you?ll save each month. For instance, if you can save $100 a month by refinancing and the closing costs to do so are $1,500, it will take you 15 months to break even. Each month after that you?ll gain net savings of $100. Stay in your home for 10 more years and you?ll save about $12,000.

To generate cash through home equity for kitchen upgrades, tuition, a new car, or a European vacation ? in other words, for whatever expenses you foresee ? you have at least three choices:

Cash-Out Refinance

The ?cash-out? refinance is a great option for those homeowners who have lots of home equity. If you owe $150,000 on your mortgage but your property is worth $350,000, for example, you can pay off the existing $150,000 by refinancing. But a cash-out refinance means you borrow more than $150,000, using the surplus for whatever you want.

Borrow $250,000, for instance, and you?ll walk away with an extra $100,000. Your monthly payments will increase, but the benefits may justify the added expense ? especially if you invest the money your borrow wisely or refinance into a better mortgage in the process (such as switching from an ARM or negative amortization loan into a 30-year fixed rate mortgage).

Home Equity Loan (or 2nd Mortgage)

Home equity loans or 2nd mortgages typically carry higher interest rates than first mortgages, but have little or no closing fees. And while refinancing can take a month or more to finalize, applications for home equity loans are simple and loans can usually be funded within a week or two. These are a good choice if you have major expenses ? such as opening a business, renovating your home, or buying a vacation property ? and you want to stretch repayment over a period of several years.

Home Equity Line of Credit (HELOC)

The HELOC is an open-ended mortgage that behaves much like a credit card. You borrow what you want, when you want it, and if you only pay interest on the amount you borrow. Typically there are no fees to open a HELOC, and if you choose not to use it you won?t be charged any interest. Use it and then pay it back and your credit limit goes back up so you can borrow it again if you want to. HELOC loans, like credit cards, are convenient for short-term financing of smaller purchases. But the interest you pay on your HELOC will likely be considerably less than typical credit card interest rates.

Keep in mind that all mortgages and home equity loans are secured by real estate, so if you default on these loans you can put your property at risk. Take advantage of borrowing against your residence only when you have a repayment plan and sufficient financial strength to pay back ? in a timely manner ? any obligations you might incur.

For expert help with all your real estate and mortgage needs, visit the professionals at or Or call toll free 1-888-420-MOVE (6683). They are dedicated to assisting members of the global GLBT community.

Commitment, passion and dedication to changing what you perceive as a social injustice and prejudice was the drive that encouraged Jeff Hammerberg to create a monumental service to the American LGBT community, one that he had envisaged for a quarter of a century. 2004 was a significant year in realizing his dream, as Jeff Hammerberg, founder of the largest LGBT real estate marketplace in the world, reaped the rewards of his vision that had been nurtured for 25 years.

During the 1990s, Jeff Hammerberg worked in residential real estate, and observed first hand the “quiet homophobia” that pervaded the industry and silently but effectively hampered the lives of LGBT consumers nationwide by placing barriers between them and home ownership. By 1997, with little more than foresight, a strategy, and zealous fortitude, Hammerberg broke away from the traditional real estate community to create the first virtual real estate marketplace for LGBT clients.

Beginning with an Internet company dedicated to assisting home buyers and sellers in the USA, Hammerberg gradually added services and sites, while adhering to a strict personal commitment to donate proceeds from his businesses directly into the LGBT community.

By 2004, he had created and which are all ground-breaking companies in terms of concept and adherence.

What Are Different Types Of Tax?

Taxes are generally an involuntary fee levied on individuals or corporations that is enforced by a government entity, whether local, national or regional in order to finance government activities. In economics, taxes fall on whoever pays the burden of the tax, whether this is the entity being taxed, like a business, or the end consumers of the business’s goods. Bookkeeping Services helps to manage business taxes puts impact on the profitability of businesses and investment. Taxation is a very important factor in the financial investment and decision-making process for business growth. It is very important for every citizen to pay tax to the government for betterment of the country.

The different types of taxes are:

Income Tax: It is one of the common types of tax. This tax is deducted directly from your income if your are liable to pay this tax if your income exceeds the certain limit.

Professional Tax: If you are working in a private firm or organization, you have to pay this tax and it gets deducted from your salary. The rate of this tax may change as per government rules.

Capital Gains Tax: It is charged if you sell your property, bonds, shares, jewelry that gives you profit. The profit can be calculated by deducting the total amount you collected from selling your asset and the amount you paid for it.

Securities Transactions Tax: When you buy or sell a stock in the share market, you have to pay securities transaction tax. It is imposed by the Government because people often do not declare the profit and assets earned from the stock market. They avoid paying capital gain tax, as the government can levy tax only on the profits they earn if these are not declared. The securities transactions tax is levied on derivative instruments, equity shares, equity oriented mutual funds.

Perquisite Tax: Perquisite Tax is levied on employees for the non-monetary benefits given to their employers. The taxable value of perquisites in the hands of the employees is its cost to the employer.

Corporate Tax: These taxes are paid by the companies to the government and it is levied on the income of the corporate.

Sales Tax: When you purchase any commodity, you have to pay its cost price plus the sales tax extra. The manufacturer then pays it to the Government. The Sales Tax is levied only on the intra-sale of commodities.

Service Tax: When you avail services you have to pay tax on it and this is called Service Tax. It is applicable to every type of services and products. Some of the services include advertising, healthcare, financial services.

Stamp Duty and Registration: When you purchase a property, you have to pay this tax as per cost fixed by the seller, and if you want to have the property transferred to your name.

Customs Duty and Octroi: This tax is levied on the goods imported into the country as well as the goods that are exported to any other foreign country. It is charged on airport, docks, railway stations. The Octroi Tax is levied on goods that are transported from one municipality to another.

Excise Duty: The Excise Tax is levied on the goods that are produced within the country. There are a number of rules which keep on changing as per government discretion.

If one is the resident of Ipswich then get the best services choosing one among the bookkeeping services in Ipswich provides expert services that save your valuable time and money.

Types of Signals in Financial Markets

In a competitive financial market, decisions of one party provide clear signals to others. Paying attention to the behavior of others can speak volumes on the expected profitability of a security. Learn all about the types of signals financial markets.

The Principle of Signaling is a simple yet powerful concept in financial markets. The adage ‘actions speak louder than words” sums up this principle well. In financial market, decisions to buy and sell securities are public information. A large corporation or investment firm can not sell or buy large quantities of securities without arousing the interest of other investors and the financial news media. In addition, entering new lines of business, abandoning a line of products, announcing dividends and stock splits, etc. all indicate important information to the market.


Suppose the CEO of a publicly-traded corporation makes an announcement that she is optimistic about the future of the firm and expects a large return on investments in the near future. This news would normally result in an increase of the firm’s stock price. However, imagine if soon after this announcement, the CEO herself sells off the majority of her holdings in the company. How confident would investors feel about paying for shares of the firm’s stock at the new, higher price? The CEO’s action has spoken louder than her words making investors suspicious about the optimistic announcement.


The automobile tire market suffers from a major marketing problem. Most people who own cars do not know much about what makes a quality tire. Customers must rely on experts to tell them which tires are good quality and which should be avoided. Sometimes the only expert available is the manufacturer itself. One way to convey quality is with price. People generally believe that higher prices correlate with higher quality tires. Smaller competitors in the tire industry have a difficult time establishing themselves as low-price providers because lower prices are perceived to be synonymous with inferior quality. Here, price is a signal that directs behavior in the market.


Adverse Selection

One principle indelibly linked to signaling is adverse selection, which occurs when offering something for sale triggers a negative signal. One of the difficulties of selling a used car is the signal that is generated when the car is put up for sale. Questions come up that ask why someone would sell a car that runs well and why the seller is willing to part with a perfectly good car. Simply putting the car up for sale is a negative signal that can

dilute a buyer’s willingness to pay the asking price. The buyer wants a lower price partly to mitigate any negative outcomes that may arise after the purchase of the used car.

Following the Crowd

Signaling has its disadvantages. Consider this metaphor: A group of deer are drinking water from a lake in the early hours of the morning. A branch falls from a tree and one deer, perceiving it may be a predator, bolts into the forest. The other deer, seeing this behavior, run into the forest for fear that they may have missed something and want to be safe. This illustrates the bandwagon effect where the simplest and most innocent of events causes a chain reaction of behavior. In investing, signaling is a powerful tool but it can be dangerous to rely on others who have relied on others, etc. for the best actions to take.

Portugals Disaster – A New Crisis for the Euro Currency ?

Portugal’s parliament rejected a new government austerity plan Wednesday, spurring the resignation of Prime Minister Jos? S?crates and setting off a new part in Europe’s sovereign-debt crisis.

Portugal’s Prime Minister Jose Socrates, left, gestures beside Finance Minister Fernando Teixeira dos Santos throughout a parliament session in Lisbon on Wednesday.

The failure to pass the measure, after a heated debate, threatened to push already-excessive government borrowing prices to unaffordable levels and pressure Lisbon to seek a bailout.

That might make Portugal the third among the many 17 nations that use the euro to use for help from other members of the European Union and the International Monetary Fund. Greece and Ireland went first.

The events in Portugal could provide a sign of whether the euro zone’s debt travails shall be contained inside three small nations or start to undermine greater economies.

There’s loads of cash in Europe’s bailout funds to deal with Portugal’s likely financing needs over the next few years, running into tens of billions of euros. Nevertheless, if Portugal loses entry to market finance, as now seems probably, the result could additionally be to shift consideration to Spain, the euro zone’s fourth-largest financial system and the one investors have identified as its next-most-susceptible, partly due to its weak banking system.

A senior Spanish government official mentioned costs of Spain’s bonds and other property may “face some short-term, speculative pressure” linked to Portugal’s woes, but, as on prior events of intense market volatility, “Spain will continue shifting ahead with its reform efforts.” These have included consolidation and recapitalization of native banks.

Portugal’s disaster might be at the forefront of the agenda of an EU summit assembly in Brussels on Thursday. European leaders have spent current months cobbling together a complete package deal they hope will solve once and for all the euro zone’s debt crisis.

Thursday’s assembly is anticipated to settle a new post-2013 bailout fund, in a position to lend ?500 billion, or about $710 billion, and an accord to improve nations’ competitiveness. But a decision on enlarging the lending capability of the present bailout fund beyond its roughly ?250 billion has been put off.

Portugal’s Mr. S?crates, who is predicted to function a caretaker prime minister till a model new government is formed or an election held, plans to attend the Brussels summit, though his negotiating and coverage-execution powers shall be very limited.

Portugal has come under quiet pressure from other European governments over a quantity of months to take a bailout, however Mr. S?crates has resisted.

Citigroup economists stated Wednesday that a vote by parliament to reject Mr. S?crates’s austerity measures would mean rising political uncertainty that “would improve market issues and consequently…improve the probabilities that Portugal might be pressured to just accept a proper EU/IMF bailout package.”

Forex Signal Service at:

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