Monday, September 7, 2009

Which Forex Robot is the Best for Profiting from Forex?

With the release of Ivybot, the long awaited release of this revolutionary forex trading software has been long awaited. But why all the hype? Well, for one thing, the creators are claiming it will be the best forex trading robot on the market. Currently, FAP Turbo sits at number one in clickbank sales with over 40,000 copies sold and satisfied customers. FAP Turbo has set the bar for any forex robot that hits the market and in many instances are compared with all the new hyped up robots.

In its first comparison, FAP Turbo was not created by professional forex traders. It was created by 2 computer programmers and one mathematical genius who put their heads together to learn forex and create one of the world's best robots. People said it couldn't be done as these types of software were previously only for the big corporations. And with these guys not being forex traders, they had everything against them. However, today where we sit, FAP Turbo is sitting on top, with one of the best forex trading robots and the most used. With their excellent customer service and members area, FAP Turbo changed the rules of forex trading robots



Ivybot is looking similar in the instance that this forex trading robot is not being developed by forex trading professionals. However, it was developed, researched, and tested by some of the most intelligent people on the planet. These guys are Ivy League graduates that are some of the most intelligent in their Financial and Mathematical fields. Thus, the similarities begin. Not only that, but Ivybot was delayed in its release due to the fact that the team wanted to ensure they had enough support staff on hand that were thoroughly trained to handle any and all support questions come launch day. This shows their dedication to their product and proves that this will not be like other releases where the product owner cannot respond to all the requests and thus you see people returning their purchase for refunds. Ivybot will be dedicated to their customers much like the FAP Turbo team is.

However, one way in which Ivybot will differ from FAP Turbo, which may even lend the edge to Ivybot, is that there will not be just one trading robot included in this package. It will actually be 4 separate forex robots. Each robot works specifically on different currency pairs, so you will not be limited to just one in your trading.

Tuesday, September 1, 2009

Uncomplicated Overview Of The Loan Modification Process

If you are up against foreclosure, or have a loan payment that is too high, then you've probably thought about getting a loan modification. A loan modification is when the terms of a loan are permanently altered to allow a lower payment.

The altered payment is achieved by either lowering the interest rate, lengthening the term, or reducing the balance to be more in line with the current market value. In most cases, a combination of all three of these options are used to reduce the loan payment. There are other alternative ways to reduce a payment with a modification also, but they all center around the term of the mortgage, the payoff, and/or the interest rate.

Here is an easy example of how a loan modification can reduce the payment, using each of the three solutions above.

Method #1 – Reducing the interest rate

Lets assume the payoff balance is $200,000 and the current interest rate is 7.75% and the payment amount is $1,750. Lets also assume this person has 20 years left on a 30 year mortgage. The victim can no longer afford this payment because of a reduced household income. They can afford a $1,250 payment, so the lender agrees to drop the interest rate to a fixed rate of 4.25% for the remaining life of the loan. This will give them a payment of $1,240, without the need to extend the term of the loan or lower the payoff amount.

Method #2 – Extending the term of the loan

Lets use the same example above, only this time, we'll assume the homeowner can afford a $1,500 payment. The loan amount will still be $200K and the interest rate will still be 7.75%. But in this scenario, the servicer was not able to drop the interest rate. This happens quite often, because the investors on the loan are not willing to accept a reduced rate. In this scenario, extending the length of the loan will make the payment affordable again and the investors will keep their 7.75% interest rate. The $200,000 payoff is re-amortized over a 30 year period to get a lower payment of $1,430. Everyone is satisfied because the foreclosure was prevented and the new payment is affordable.

Method #3 – Reducing the principal amount

In order for a principal amount to be dropped, the value of the home must be less than the payoff amount. In a few cases, servicers will reduce the payoff amount without this stipulation, but it's unlikely. To get the payoff amount dropped, you must prove to the lender that foreclosing on the home will cost more than lowering the balance to make the loan affordable again.

In this scenario, we'll assume the home's current market value has been verified at $179,000, but the amount owed is still $200,000. If the bank forecloses on the home and tried to re-list it, their estimated loses will be 30% of the home's value. So after foreclosing on the home and re-selling, they will get around $125,000, if they are lucky. Most banks expect to lose 30%-60% on every foreclosure property, so this estimate is being very generous.

By allowing the existing owner to keep the home, with a new affordable payment, they can continue servicing the loan and collect the full value, plus interest. This is a much better option for the lender, assuming the new payment is affordable. By reducing the payoff to $179,000 and keeping the same interest rate and 20 year term, the new payment is $1,470, which now fits into the homeowners $1,500 budget.



Applying All Three Choices At The Same Time

When dealing with my cases, I often try to get the lowest possible payment, which would mean lowering the interest rate and payoff, while lengthening the mortgage to 30 years. By negotiating all of these figures, a new payment of $880 could be fixed for the remaining term of the loan. An experienced loan modifier knows exactly how to get the lowest possible payment in the shortest amount of time.

Negotiating with lenders is all a matter of having the right information and being prepared. It's not something most homeowners can accomplish without help, regardless of what many people may think. A loan modification is the answer to keeping and affording your home. Arguing your case wrong can not only cost $1000's but it can cost you your home!

In the previous example, the difference between a good modification and a bad modification adds up to over $100,000 in extra payments over the life of the loan! So even if you are successful with a modification on your own, it could still cost you over $100,000! If you don't have experience with what you're doing, or don't have confidence in your ability to get an affordable payment, make sure you hire someone to help immediately. There is no time for "gaining knowledge from your mistakes" when a single error could cost you your home!

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By: Nick Adama
Nick publishes articles on the ForeclosureFish website to provide foreclosure help and information to homeowners in need of assistance. The site examines various ways to save a home, including deed in lieu, filing bankruptcy, short sales, defending foreclosure in court, and more. Visit the site for an e-book explaining the basics of foreclosure and how to stop the process: www.foreclosurefish.com/

Tuesday, August 11, 2009

Will You Qualify for that New Mortgage or Re-Finance?

The Federal Reserve continues to raise short-term interest rates, but long-term mortgage rates are still at 40-year lows. This may be one of your last opportunities to lock in great interest rates below 6%. So, we put together a brief checklist for you to follow in order to make sure that the process goes smoothly for you.

First, it is a good idea to check your credit report to make sure there will be no surprises when your lender takes a look at it. You can get a free copy of your credit report and credit score at http://www.trimyourdebt.com/GetYourCreditScore.aspx. Remember a score above 700 usually means you will get the best interest rates. Usually a rate below 680 is considered to be of higher risk and so the lender requires a higher interest rate to mitigate the increased risk of loss.



If you find any incorrect information in your credit report, be sure to get it cleaned up before applying. Cleaning up negative items from your credit will also ensure that you get a better credit score. For information on how to get your credit cleaned up before you get that new mortgage, visit http://www.trimyourdebt.com/CreditRepairGuide.aspx.

Next, list out all of the debts reported on your credit report and add up all of the monthly payments. Also include what your payment would be with your new mortgage. In order to estimate your monthly payment with a mortgage interest rate of 6%, you can use $6 per thousand dollars of mortgage. So for example, if you need a $150,000 mortgage, then multiply 6 times 150, which equals $900 per month. Add this payment to the other monthly debts listed on your credit report and this will be your total debts.

Now take out your most recent paycheck stubs to do a debt-to-income calculation. The calculation is done by taking the total debts from above and dividing this number by your gross monthly income. The ratio should be less than 38%. If your ratio is too high, then you need to do your best to start paying down your debts. The quickest way to do this is to follow the debt plan that is available at http://www.trimyourdebt.com/welcome_budget_short.aspx.



The final item that you will need to provide to your lender is documentation that shows your assets such as bank account statements, 401(k) statements, any cash value of life insurance, etc. Your lender wants to see where your down payment will be coming from.You are now ready to check for the best rates and start looking for a lender. To get free rate quotes with no obligation and no credit check, feel free to visit us at http://www.trimyourdebt.com/MortgagePlanner.aspx.

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About the Author
Don Blackhurst is the co-founder of TrimYourDebt.com (http://www.trimyourdebt.com),/ which provides free budgeting tools, debt planning, and credit help. He has been working in the banking and finance industries for over 15 years and has an MBA with an emphasis in Finance and Econometrics. Written by: TrimYourDebt.com

Your Competitors Offer Leasing Finance, you should ask yourself WHY?

The simple answer to this question is that they are offering finance to their customers as a sales, marketing & deal closing tool. It cements their relationships with their customers because leasing finance can usually be offered the same day. The customer is then more likely to return in the future because of the financing is arranged with minimum hassles and no time consuming trips to the bank manager. This type of financing arrangement is known as a “Vendor Program”

Can I Offer Finance to my Customers?

Again, the answer to this question is yes. You can benefit from establishing a relationship / partnership with an appropriate lender and start taking advantage of the sales & marketing opportunities and shortened sales cycle. Your Company, Sales Team and Customers all benefit from a Vendor Program arrangement that can be set up with minimal training and effort on your part.



So now, let us take a look at the benefits in a few more details

Sales Benefits

Finance adds value to your product, by including finance as part of your whole package you make it easier for your customer to buy therefore your sales team will find it easier to close more deals. Deal closing opportunities present themselves via price flexibility, you could discount products & claw back via finance or sell at full price but offer low cost finance. If you have customers who arrange their own finance then you already have the demand for the service, which means that some customers who require finance are probably going elsewhere! Fast finance decisions means that customers are less prone to changes of mind or finding a better deal elsewhere. If you allow others to offer finance facilities you will not be in control of the interest rate & sales could be lost / delayed. Finally, additional Leads can be gained by innovative pricing schemes.



Customer Benefits

You offer, a single point of contact for customers requiring finance for equipment. Quick finance decisions means quick delivery of equipment. Leasing allows customers to upgrade and replace equipment easily with just a simple adjustment in rentals. A near guaranteed acceptance of all finance proposals, start up companies are the more difficult proposals but can be done. Finally there are the tax benefits of leasing, payments are 100% tax deductible, cash and existing credit lines are preserved.

Company Benefits

If you offer finance it presents a barrier to competitors, if it's easy for your customer to keep trading in and trading up with you, your competitors do not get a look-in and as used equipment comes back to the vendor, the second-hand market can be controlled. Vendor maintenance can be made a condition of the leasing, increasing the vendor's profits from maintenance activity. Your company can earn commission on finance deals all for filling in a simple finance proposal form. You can choose whether to earn a commission on any deal because you set the interest rate and best of all any commission earned is 100% profit. Just think what could you do with the commission on finance sales, it could allow you to employ extra salesmen with the profits and generate even higher profits!

If you are NOT offering vendor finance & your competitors are you should ask yourself why Today?

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Copyright © Mark Dalton
Eland Business Services Limited
www.ebslfinance.co.uk



About the Author

Mark Dalton is the founder of Eland Business Services Limited. For more information about business finance in the UK please visit www.ebslfinance.co.uk

Written by: Mark Dalton

Friday, July 24, 2009

10 Easy Ways To Organize Your Business Finances

Whether you are a new entrepreneur or a more experienced business owner, taking control of your finances can feel like a part-time job. Some simple tips can help you streamline your time, organize your finances and reduce the stress of business money matters.

1. Keep Your Bills in One Place

When the mail comes, make sure it goes in one place. Misplaced bills can be the cause of unwanted late fees and can damage your credit rating. Whether it's a drawer, a box, or a file, be consistent. Size is also important. If you get a lot of mail, use an area that won't get filled up too quickly.

2. Pay Your Bills on Schedule

Bill paying can be simplified if it's done at scheduled times during the month. Depending on how many bills you receive, you can establish set times each month when none of your bills will be late. If you're paying bills as you receive them, chances are you're spending too much time in front of the checkbook. Although bills may state "Payable Upon Receipt", there's always a grace period. Call the creditor to find out when they need to receive payment before the bill is considered late.

3. Read Your Credit Card Statements

Most people take advantage of low interest credit card offers but never read their statements when paying the bill. Credit cards are notorious for using low interest as bait for new customers then switching to higher rates after a few months. Make a habit of looking at your statement carefully to see what interest rate you are paying each month and if any transaction fees have been applied. If the rate increases or a transaction fee appears on your statement, a simple call to the credit card company can oftentimes be beneficial in resolving the matter. If not, try to switch your money to a more favorable rate.



4. Take Advantage of Automatic Payments

Most banks offer a way to automatically deduct money from your account to pay creditors. In addition, the creditors usually offer a lower interest rate when you sign up for this payment option because they get their money faster and on-time. Consider it as one fewer check to write, envelope to lick and stamp to buy. Just make sure you record the deduction when the automatic payment is scheduled or you run the risk of bouncing other checks.

5. Computerize Your Checkbook

Using a software program is a handy way to organize your finances. Whether it's Quicken(r), Microsoft Money(r) or another package, these easy-to-use programs make bill paying and bank reconciliation a cinch. Computer checks can be ordered almost anywhere and fit right into most printers. Once the checks are printed, all of the information is automatically recorded in your electronic checkbook. Furthermore, many banks have direct downloads into these software packages so when money is deposited or withdrawn, the transaction is entered immediately onto your computer. And, when it comes time to do taxes, it couldn't be easier.

6. Get Overdraft Protection

Most banks have a service where, if you run the risk of bouncing a check, the money will come from another source. For a nominal fee, the bank will link your checking account to either a savings, money market, or credit card so the embarrassment of bouncing a check will be avoided. Call or visit your bank to learn about this convenient feature.

7. Cancel Unused Accounts

Whether it's a credit card or bank account, write a letter requesting that the account is formally closed. Not only will this improve your credit score, it is a useful way to avoid money from being scattered all over the place. Don't let department stores and credit card companies lure you into opening new accounts by offering favorable interest rates and purchase discounts. It's easy for credit to get out of hand by taking advantage of every credit offer that comes your way.



8. Consolidate Your Accounts

If you have several credit card accounts with outstanding balances, try to consolidate them into one. Be careful and check the balance transfer interest rates and one-time fees. Also, make a list of all your open Money Markets, Savings, CDs, IRAs, Mutual Funds, and other accounts to see if any consolidation can be done. Keeping your money in fewer places eliminates all of the guesswork involved and reduces errors.

9. Establish Automatic Savings

Create a link from your checking account into a savings account that will not be touched. This can usually be done through the banks and automatic amounts will be transferred over each month. Most people will not put money into a savings account on a regular basis. They may wait until a large tax refund check arrives or some other event to actually deposit money into savings, retirement or other accounts. If you establish an automatic savings deposit every month, your accounts will begin accumulating money faster than you think.

10. Clean up Your Files
Make sure your paid bills are organized in a filing cabinet. Keep individual files for paid bills. Go through your files at the end of each year and throw out bills and receipts no longer needed for auditing purposes. Contact your local IRS office to see how long records need to be kept for audits. Usually federal tax return audits can be done three years back but cancelled checks may need to be kept for seven. Consult the Internet for auditing and records-keeping procedures for your state or region.

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(c) 2005 DebtGuru.com(r). This article may be freely distributed as long as the signature file and active link are included.

About the author:

Michael G. Peterson is the Vice President of American Credit Foundation, an IRS 501 (c)(3) non-profit consumer credit counseling organization that has assisted thousands of individuals and families with their financial situations through seminars, education, counseling services, and, debt management plans. For more information, and free consumer resources visit http://www.debtguru.com.

Written by: Michael G. Peterson