Mortgage Terms

15 vs 30 Years

Your mortgage term can be just about anything you choose. 15 and 30 year terms are popular these days, although 10 and 20 years also are available.

The shorter the term, the lower the interest rate. But the main attraction of shorter term mortgages is the money you save.

For example on a $200,000 mortgage with a fixed 4.5% rate, you would pay $1013.38 a month for 30 years and $1529.99 a month for 15 years. Over 30 years you would pay $364,816.80 versus $275,398.20 over 15 years, a savings of $89,418.60 or 24.5% in interest.

If you cut a very conservative quarter of a percent off for reducing the lenders exposure by 15 years, your savings will be nearly 26%.

Adjustable Rate Mortgages (ARM )

ARM's are mortgages whose rates adjust according to the terms of the contract you made with the lender.

Usually interest rates are fixed for the first 1, 3, 5, 7 or 10 years. After that period is up, rates will be allowed to fluctuate within the limits of your contract with the lender.

Terms are usually 15 or 30 years (although you can negotiate just about any duration you want). There can be a balloon involved.

Because the lender is not taking as big a risk on losing money if interest rates rise, these loans will have a lower initial rate than a fixed mortgage. The lowest rates will be for 1 year ARM's and will go up accordingly.

Many people will take out an ARM even in period of low rates, such as now, because they get even lower rates and are able to afford more house. However, the borrower is taking the risk that he can still afford the house after the rates are free to rise.

It used to be common for the contract to limit fluctuations to 2% a year. However, 5% swings are becoming more the norm. Depending on what happens to interest rates, you might find yourself priced out of your house. Of course, you could renegotiate if rates start to go back up.

The average homeowner owns his or her house for approximately 7 years. If you plan to move before the initial fixed term of the ARM is up, it's a good choice. If you plan to stay longer than ten years, a fixed rate might be a better option.

Balloon Mortgage

A balloon mortgage is one that is not completely paid off at the end of its term.

For example, you might obtain a 15 year fixed rate mortgage that allows you to pay less than the normal amortization schedule would call for. At the end of the 15 years, you will still owe a portion of the principal. How much depends on the terms of the contract.

An interest only mortgage is an example of this type of loan. In the case of an interest only loan, the balloon will be the full amount you originally borrowed.

This type of mortgage allows borrowers either to afford more house then they otherwise could buy or its reduces their monthly costs, allowing them to spend or invest their savings elsewhere.

Again, if you are planning to move before the balloon is due and your proceeds from the sale are enough to cover the balloon, this might be a good idea. However, you face the very real possibility of having to come up with cash when you sell to cover the balloon, especially if you have to sell at a time of declining housing prices.

BiWeekly Mortgages

A biweekly mortgage is one where pay half of the normal mortgage payments every two weeks. Since you are making 26 payments a year, rather than 24, you wind up paying off the interest sooner and saving considerable interest.

Take the example of a $200,000, 4.5% fixed rate mortgage with a 30 year term. The normal payment would be $1013.37 a month.

The biweekly amount is $506.91. But the payoff is huge. Your loan will be paid 5 1/2 years earlier and you will save 28% or $32,639.75 interest.

You can set up your own biweekly mortgage plan with your existing mortgage, assuming there is no prepayment penalty (which usually only applies the first few years anyhow). Simply send in or have your bank debit your checking account for one half your mortgage payments every two weeks. There should be no extra costs or fees to do this.

Or you can reach a similiar result by dividing your monthly payment by twelve and adding that to your payment. In this example that would come out to be an extra $84.44 a month.

The secret is that any prepayment, no matter how small will result in saving in interest and a shorter payment period.

Bridge Loans

Bridge loans are used in real estate transactions to cover the down payment on a new home, when the borrower has equity in his old home, but not enough cash.

It is generally a short term, interest only loan that is repaid when the homeowner sells his old house.

Conventional Mortgage

Most mortgages are conventional, the terms just vary. A conventional mortgage to most people is a 15 or 30 year fixed rate mortgage with at least 20% down.

Construction Mortgages

These are really loans that carry a higher interest rate than a normal mortgage. They allow you to borrow the money to build a house and are converted into a mortgage once the house is finished.

FHA (Federal Housing Administration)

The FHA is a branch of the Housing and Urban Development (HUD) Department. It is a depression era creation, meant to make it possible for people to buy homes at a time when banks where not granting mortgages.

The FHA insures loans up to certain set amounts, which vary with the region of the country and the type of loan. Right now the guarantees run from about $160,000 for a one family house to somewhat over $300,000 for a four family home.

This type of mortgage is designed to help low and moderate income people become home owners. It requires low down payments and has flexible lending requirements.

If the borrower defaults, the government steps in and pays the guarantee. This makes it easier for lenders to write mortgages they would otherwise refuse.

Average Salary

The area of accounting currently experiencing strong growth in the number of people employed in the field. In 2004, accountants and auditors held about 1.2 million jobs in the United States. These numbers are expected to grow at a faster than average rate through 2014, mostly because of the increasing number of businesses, but also due to changing financial laws and regulations, as well as increased scrutiny of company finances.

The average salary of an accountant can vary greatly through the many different fields of accounting. An average salary of an accountant depends much on not only which area of accounting the accountant is employed, but also the geographic region in which the accountant is employed. For example, accountants, and especially Certified Professional Accountants (CPAs), in large metro areas will earn more than CPAs in smaller cities nationwide.

According to the United States Department of Labor, the average salary of an accountant, or the median wage and salary earnings of an accountant or auditor, was $50,770 in May 2004. The middle half of the occupation earned between $39,890 and $66,900. The top 10 percent of accountants and auditors earned more than $88,610 annually, and the bottom 10 percent earned less than $32,320. The U.S. Department of Labor also collected median annual earnings from May 2004 in the industries that currently employ the largest number of accountants and auditors, and the average salary of an accountant in these areas is as follows:

Federal Executive Branch of the government and the United States Postal Service - $56,900

Accounting, tax preparation, bookkeeping, and payroll services - $53,870

Management of companies and enterprises - $52,260

Local government - $47,400

State government - $43,400

According to a salary survey reported by the National Association of Colleges and Employers (NACE), candidates for bachelor's degrees, soon to be graduating in the field of accounting, received starting wage offers from a variety of sources averaging $43,269 per year in 2005, and master's degree candidates in accounting were offered $46,251 as an initial average wage.

What is Mesothelioma

Mesothelioma is a form of cancer that attacks the linings of the lungs and the intestinal tract, and also the sac covering the heart. It is also called epithelial mesothelioma, as it affects the membrane in the pleura, the pericardium and the peritoneum. It is not lung-cancer per se. The mesothelioma-lung cancer confusion has been there earlier. Mesothelioma is merely a form of cancer that affects the lining covering the lungs. It comes in three forms:
- Pleural mesothelioma

- Peritoneal mesothelioma

- Pericardial mesothelioma

Causes of Mesothelioma:

The primary cause of mesothelioma is exposure to asbestos. This can be direct exposure at the work place, or secondary exposure (when the victim is exposed to asbestos through coming in contact with someone who has already been exposed to asbestos). Despite all the pain and the loss that the workers faced, there was some hope in the form of legal recourse. Workers started suing the plants they worked in, and soon the legal battle against mesothelioma reached epic proportions. Even today, there are around 3,000 cases of mesothelioma being diagnosed in the United States every year. While the treatment is painful and not always successful, these mesothelioma victims at least have the hope of monetary compensation to help them fight mesothelioma.

The first manifestations of mesothelioma were seen as early as the 1950s and the 1960s. At that time, the workers in plants and other work areas that used asbestos in some form or the other were unaware of the lethal side of asbestos. The management at these work areas - docks, industrial plants, equipment manufacturers, and many more, the list is endless - soon came to know of the adverse effects of asbestos. However, for some reason they kept quiet about it. Their focus was on reduced costs and profits, it seems, and they remained mum about the harmful effects that asbestos could have on their workers. Asbestos, after all, had huge advantages over other material, which was why it was used so much irrespective of the genre of industry. This over the years proved to be a very, very costly error on their part.

Online Degrees Fields of Study

With online universities becoming more and more popular, it is now more convenient to earn a college degree. And with online degrees, gone is the excuse that the degree you want is unavailable at your local college or university. Online universities wipe away state borders and eliminate the need to pack up and move close to a campus college to earn a degree. In fact, there is such a wide range of online degrees available that the problem won't be where to go, but what online degree to pursue. Here are some of the online degrees that are available today.

Online Art and Design Degrees
Online art and design degrees include online degrees such as computer graphics and design, fashion design and merchandising, game design and website design and development. As companies have in-house design teams, people with computer graphic expertise continue to be in demand. If you have a passion for visual arts and want to learn how to communicate company message through your designs, then art and design is the direction for you.

Online Business Degrees
Online business degrees include online degrees such as accounting, business administration, business management, communications, finance, human resources, international business, management information systems, marketing, and of course, the MBA. As the economy thrives on businesses, online business degrees are very versatile and useful in every industry.

Online Computers and Engineering Degrees
Online computers and engineering degrees include online degrees such as computer programming, computer science, information technology, network management, and software engineering. If you are looking for job stability, then a degree in computers and engineering is the way to go. At the speed that technology continues to advance, those with technical expertise will continue to be highly sought after.

Online Criminal Justice and Legal Degrees
Online criminal justice and legal degrees include online degrees such as criminal justice, homeland security, legal studies and paralegal. If you have an enthusiasm with law enforcement, then criminal justice and legal would be your path. Whether you want to join the ranks of your local police department or work in a court, there is an online criminal justice and legal degree for you.

Online Education Degrees
Online education degrees include online degrees in education and teaching. Whether you want to teach children in kindergarten or prepare high school students for college entry, you need to learn how to prepare class syllabuses and develop curriculum.

Online Health and Human Services Degrees
Online health and human services degrees include online degrees such as health care administration, health education, health science, human services, medical assisting, RN to BSN and sports management degrees. There will always be a need for healthcare workers. From nurses working in hospitals to sports coaches working for high school sports teams, those with the knowledge and background to care for people will always be needed.

Online Social Science and Psychology Degrees
Online social science and psychology degrees include online degrees such as economics, fire science, history, political science, psychology, and sociology. If current events intrigue you, then the social science and psychology field is the way to go as you will learn insights to explain the behavior of people, whether it be one individual or a collective group.

Online Degrees in Every Field
As you can see, online degrees are available in almost every field. Whether you want to enter the field of business, teach high school students, or design video games, your online degree is waiting for you. Start your online degree search today!

National Accounts

Regain Power by Offering Competitive Advantage

National accounts, by definition, have significant size and buying power which provide leverage in demanding lower prices. In addition, because of their complexity and demographics, they are often more difficult and expensive to service. Consequently, most national accounts are the least profitable.

In response, you need to make a concentrated effort to effectively rebalance the shift of power by offering significant competitive advantages that make your products and services more critical to your national accounts. Without creating competitive advantage, you will be tied to the downward price spiral that eats margin and effectively negates any understanding by your customers that "price is not the same as cost." A structured national accounts program with definitive guidelines is the first step toward gaining competitive advantage.
There are four basic broad categories of added value that create competitive advantage:

1. Processes that streamline your customers' productivity, improve quality, take transaction costs out of the supply chain and provide measurable savings (unrelated to price).

2. Administrative and technical support that can reduce your customers' internal costs enough to affect bottom line operating costs.

3. Sales and marketing support that can increase your customers' top line.

4. Technology that is core to your customers' business results, yet is beyond their internal capabilities.
Your national accounts program should refocus your efforts on all of these issues.

Four Fundamentals

The ultimate success of a national accounts program depends on the hard work and team participation of all company employees involved in the process.
There are four basic fundamentals of success in any national accounts program:

1. Knowledge - Study the internal processes of your company and/or the internal workings of your national accounts program if you already have one in place.

2. Understanding - Research the business environment in which your company operates and the resulting defined objectives for a national accounts program.

3. Clarity - Identify the big picture of market and customer demand and direction. This should be a true understanding of what your corporation is trying to accomplish in total.

4. Commitment - Secure the commitment of your entire company.

Knowledge

It is essential to outline the objectives of your program, the process involved, and the direction to take in order to receive help and support when necessary. If you have no program in effect, it is critical to develop this process.

Second, activity measurement and open communication (both up and down the chain of command) are absolutely critical for success. Accountability is an absolute necessity and it must be clearly defined. Support from your company's information management system can provide the fundamental elements of success for the national accounts program. A weak information system could leave dangerous voids or even misrepresent the true picture of the national accounts program.

Distance Learning And Online Degree

Distance Learning and Online Degree:

With the advent of the Internet the mode of education has changed drastically. From distance education the word has changed to Online Education where the method of teaching has become virtual.
Additionally, course materials will be sent by post, which they can finish at home An online business degree is best suited to working executives who can finish their course at their own pace and do not need to lose work to attend classes.

2. How will an online business degree help your career?

An online business degree is one of the best possible ways to enhance one's academic qualifications. Many fortune 700 companies appreciate employees who have a higher academic degree and consider such degrees as a criterion for promotion. This means that even if you work hard and exhibit good professional ethics, you may be sidelined when it comes to promotions and pay hikes.

3. Getting qualified through an online course serves three purposes:

1. It enhances your academic standing

2. It does not require you to lose your job in order to make time for learning.

3. You can learn in your leisure time and use it productively to enhance your career.

Online Degrees are available all over the Internet from valid accepted Universities to fake Diploma Mills that churn out diplomas without need for anything other than cold hard cash.
While the advantages of the Online Degree providing colleges are many the fact remains that the fake diploma mills are adversely affecting the reputation of the legitimate degree providing colleges.

Legitimate Online Degree College vs. Fake Diploma Mills

Universities and colleges online have to be accredited and the best ones like Phoenix University are, but there are again, the 'life experience' degree providers like the Belford University that create fake accreditation agencies and then accredit themselves, causing students looking for shortcuts to believe that these are legit institutes and are merely showing them the way out.

However, when all online degree holders enter the practical world looking for a job carrying their 'online diplomas' these fake diploma holders cause the legit degree holders to lose out as potential employers lose faith in the 'online degrees' so many of which are useless.

The latest trend in education is distance education where you can attain an undergraduate and graduate, certification or professional degree with the help of advanced technology of Internet.

It is gaining popularity owing to the fact that it can be obtained without leaving your job and can be done at your own pace. Owing to this sudden popularity in distance education, more and more universities are introducing online degree education.

With the wave of intensive growth in distance education comes another problem which is that of fraudulent online degrees.

Universities need to make a profit in order to sustain in the growing competition. The statistics behind online universities indicate that online universities are growing by 33% annually [International Data Corporation Online].

The benefit that the universities offering online courses are that they need not worry about infrastructural expenditure and they can reach out to people across the globe.

The difference between a fake degree online and a valid one is that fraudulent online degree universities are called 'degree mills' as their main focus is in fast production and distribution of fake diplomas. They just offer credit for life experience and if you pay your fees you get your diploma. You don't have to worry about practical experience. If you pay a little extra, you can even graduate with honors!

The problem arises when this life experience is not accepted by state and federal laws and you face the problem of looking for a suitable job.
A legitimate online college can be recognized against a fake one by checking out the actual web address which is usually offered by The Internet Corporation for Assigned Names and Numbers (ICANN), the international organization that dispenses domain names (web addresses).

Accredited schools will receive the .edu designation. For example, Stanford University's web address is Stanford.edu which authenticates that they are genuine online universities. Next you can also check from the list of accredited schools provided by US Department of Education.