Reverse Mortgages, Most Common Features:

A reverse mortgage is a special type of loan that seniors can sometimes get to convert the equity in their homes to cash.

Many reverse mortgages offer special appeal to older adults because the loan advances, which are not taxable, generally do not affect Social Security or Medicare benefits.

Originally designed for retirees interested in keeping their homes but whose incomes aren’t sufficient to support them, reverse mortgages have typically been used to help people on low fixed incomes make ends meet, make needed home repairs or pay for large medical bills that otherwise would be unaffordable.

Depending on the plan, reverse mortgages generally allow homeowners to retain title to their homes until they permanently move, sell their home, die, or reach the end of a pre-selected loan term.

Generally, a move is considered permanent when the homeowner has not lived in the home for 12 consecutive months. So, for example, a person could live in a nursing home or other medical facility for up to 12 months before the reverse mortgage would be due.

However, be aware that:

Reverse mortgages tend to be more costly than traditional loans because they are rising-debt loans.

The interest is added to the principal loan balance each month. So, the total amount of interest owed increases significantly with time as the interest compounds.

Reverse mortgages use up all or some of the equity in a home. That leaves fewer assets for the homeowner and his or her heirs.

Lenders generally charge origination fees and closing costs; some charge servicing fees. How much is up to the lender.

Interest on reverse mortgages is not deductible on income tax returns until the loan is paid off in part or whole.

Because homeowners retain title to their home, they remain responsible for taxes, insurance, fuel, maintenance, and other housing expenses.

Getting a Good Deal.

If you decide to consider a reverse mortgage, shop around and compare terms.

Look at the:

Annual percentage rate (APR), which is the yearly cost of credit. type of interest rate. Some plans provide for fixed rate interest; others involve adjustable rates that change over the loan term based on market conditions, number of points (fees paid to the lender for the loan) and other closing costs.

Some lenders may charge steep costs, which your lender may offer to finance. However, if you agree to this, you’ll take out fewer proceeds from the loan or you’ll borrow an extra amount, which will be added to your loan balance and you’ll owe more interest at the end of the loan. Total Amount Loan Cost (TALC) rates.

The TALC rate is the projected annual average cost of a reverse mortgage, including all itemized costs.

It shows what the single all-inclusive interest rate would be if the lender could charge only interest and no fees or other costs. payment terms, including acceleration clauses.

They state when the lender can declare the entire loan due immediately. Under the federal Truth in Lending Act, lenders must disclose these terms and other information before you sign the loan.

On plans with adjustable rates, they must provide specific information about the variable rate feature.

On plans with credit lines, they must inform the applicant about appraisal or credit report charges, attorney’s fees, or other costs associated with opening and using the account.

Be sure you understand these terms and costs.

Author-Bio: Debt elimination programs reviewed is run by Vincent Dail. Get the debt elimination tips you need, today! To receive your free special report visit: Debt Elimination Programs

See more loan tips here:
Raising Capital for Your Business

Rebecca

The National Association for the Self-Employed (NASE)

About NASE

At-A-Glance: The Nation’s Leading Resource for Micro-Businesses

The National Association for the Self-Employed (NASE) is the nation’s leading resource for the self-employed and micro-businesses (up to ten employees), providing a broad range of benefits and support to help the smallest businesses succeed.

The NASE was founded in 1981 by a group of small- business owners in search of a structure of day-to-day support, benefits and consolidated buying power that traditionally had been available only to large corporations. Today, the NASE represents hundreds of thousands of entrepreneurs and micro-businesses, and is the largest non-profit, non-partisan association of its kind in the United States.

Since its start-up, the NASE has been an important partner in the explosion of micro-businesses in the United States, supporting the interests of the self-employed with benefits and advocacy initiatives aimed at leveling the playing field between these businesses and larger corporations.

Specifically, the aim of the association is to help the self-employed successfully meet the challenges of managing and growing their businesses by:

* Securing focused tools and resources that help the self-employed manage and compete more effectively;
* Representing the interests of the self-employed among legislators in Washington D.C. on key issues that affect their business and that give these businesses more equal footing with larger corporations; and
* Providing access to benefits that promote the health and financial security of micro-business owners.

Supporting Micro-Businesses as Key Engine of Economy

The NASE has pioneered support for the self-employed and micro-businesses, which have been among the largest creators of jobs in recent years. According to the Small Business Administration, micro-businesses generated 37.6 percent of new jobs between 1998 and 1999.

Inside the site you can find:
How NASE Works
FAQ’s
History of NASE
Governance
Press Room
Latest News
Micro-Business Advice

You can visit this business resource here:
http://www.nase.org/

It is one thing to make a sales presentation, but it is another thing to make a sales presentation without first evaluating your customer. For all you know, you could be selling your customer something that they already have, or something they don t want, don t need, or can t afford.

This is why it is so very important to take your customer in, sit them down, make them feel comfortable, and get to know them and what their needs are. Once you have done this, you can then sell them a product based on what their needs are and not what you think they are.

On a personal note . . .

I learned the importance of evaluating your customer the hard way. A few years ago, I was a branch manager working in a bank branch. One particular customer of the bank approached me in my office about opening a savings account for her daughter.

Once I explained to her the process of opening a savings account, I proceeded to tell her all about a current promotion we were having on our home equity loans. She sat there and listened very politely and patiently as I very proudly went down the list of all the benefits, features, and tax breaks that come with a home equity loan.

Once I had finished my rehearsed presentation, she said to me;

That all sounds very nice, and it is something that I will consider in the near to distant future. She than went on to tell me that she and her husband rented the house they lived in.

So there you have it, I tried to sell a home equity loan to someone without a house.

Needless to say, my face turned a deeper shade of scarlet, and I felt like an idiot.

But hey, I learned from my mistake. Had I asked some simple probing questions before I went straight for the sale, I would have saved myself a lot of embarrassment.

You will be amazed at what you can find out from people just by asking them a few simple questions about themselves. Remember, people love to talk about themselves. Their jobs, their pets, their kids, just about everything.

I once had a friend who owned a shoe store, and his inventory was made up mostly of sneakers. One day a man walked into his store to buy a pair of sneakers. As my friend assisted him with his decision, he struck up a friendly conversation with him. As it turned out, this customer ran a basketball camp during the summer and he loved to talk about it. A few minutes into the conversation, my friend and his customer had come to an agreement. All of the boys and girls that attended the customers basketball camp would receive a 10% discount on their sneakers if they purchased them at my friend s store.

So, as you can see, my friend increased his sales that summer simply by striking up a conversation with his random customer and asking a few questions.
Imagine going to your doctors office with an ailment and having him prescribe you a medication without asking what your symptoms were. Would you take the medication?

The same principal applies.

It really isn t rocket science, it s just friendly conversation, get to know your customer and watch one sale turn into many.

Why service only one of your customers needs when you can service them all.

Author-Bio: Jay Conners has more than fifteen years of experience in the banking and Mortgage Industry, both as a loan officer and a sales manager. He is the owner of http://www.jconners.com, a mortgage resource site.

Rebecca

Boost Your Business By Partnering With a Non Profit Organization

Is your business looking for new and creative ways to gain publicity and build your customer base? Partnering with non profit organizations may benefit your business in many ways.

Why business owners and managers should consider supporting non profits as part of their marketing strategy:

- Advertising opportunities are usually offered when non profit organizations request corporate sponsorship. Types of advertising may include a business card size ad in a program, a sign at an event, or your business name mentioned in radio or TV ads.

- Partnering with non profits increases public relations and a general feeling of goodwill toward your company.

- Participating in the planning of non profit events, attending an event, or volunteering your time increases your opportunities to meet potential customers.

-Finally, there are tax breaks for donating money to a charitable cause. Check with your accountant for more details.

There are many ways that business owners can partner with non profit organizations in order to reach more potential customers.

Volunteering Your Time

Volunteering your time to help a non profit cause will give you an opportunity to develop relationships with non profit leaders and volunteers. You can work on volunteer committees, planning events, or even just stuffing envelopes.

How about donating an hour or two to man the phones for MDA on labor day weekend, a public television drive or another telethon? How about staffing a booth at a school carnival? Savvy business people see such volunteer activities as opportunities to connect with other business people, network and build relationships with potential clients.

Donating Merchandise

Many non profit groups hold live and silent auctions or need door prizes for their events. This is an opportunity for you to show potential clients your merchandise or sample your services.

This strategy works well for many types of businesses, here’s some examples:

1. A photographer donates a gift certificate AND loans the NPO a large scale portrait from their portfolio. Even if someone does not win the gift certificate, they may be impressed with your style of photography and call to set up an appointment anyway!

2. Restaurants have an easy way out on this one! Donate a gift certificate to the non profit organization. The receiver gets to sample your food, service and atmosphere. Who knows, you may have just gained a customer for life!

Financial Donations

Donating a financial gift to a charity of your choice may have advertising and tax benefits as discussed earlier.

Attending Non Profit Events

Charities host a variety of fun events such as arts festivals, dinners, galas, casino nights and auctions. Participating in a charity fundraiser or other event will give you an easy way to donate financially to the group. Events also provide time to build relationships with other business people and potential clients, in a fun relaxed environment.

Donating Facilities

Does your company have a gym, banquet facility or auditorium? By donating or offering a reduced rate to non profit organizations, you may receive great public relations and word of mouth advertising benefits in return.

Here’s a great example: A bowling center in Florida offers their facility for students to hold a bowl-a-thon. Students get per pin pledges prior to the event. According to owner, Lisa Ciniello, The Bowling Centers do not make a lot of money, but we encourage these events as it gives great exposure. In our locations we charge $5.00 to $8.00 per student and no charge for rental shoes.

Connecting With Your Community

One of the best ways to find opportunities to donate to non profits and network with other business leaders is to join a civic club or chamber of commerce. These organizations meet 1-4 times per month in your local city. They usually have a small list of favorite charities or support their own foundations.

A few of the civic clubs that you may want to consider joining:

Optimist International: http://www.optimist.org
Lion’s Club: http://www.lionsclubs.org
Kiwanis International: http://www.kiwanis.org
Business & Professional Women: http://www.bpwusa.org

Finally, partnering with non profit organizations gives your business a way to reach out to the local community. Your business can contribute to the greater good and help many people, just by joining forces with charitable organizations.

Author- Sandra Sims has been fundraising for various charities for over 10 years. Her guide “The 5 Keys to Successful Fundraising” will help you get maximum results from your charity fundraising campaign. Get your copy at: http://www.stepbystepfundraising.com

NameStormers.com:

Mike Carr, the director of The NameStormers, has 25 years of experience
in marketing and market research including over 16 years in branding and
name development. Previously, Mike was President of The Salinon
Corporation – a market analysis and consulting firm and Sr. Vice
President of Compucon, an A.C. Nielsen subsidiary where he led
Communication Marketing Research for U. S. and European telecom and
Nielsen clients.

The Steps They Use Involved in Developing a New Name

* Information Gathering
* Team Ideation
* Individual Creativity
* Iterative Name Submission, Feedback and Evaluation
* Detailed Legal and Linguistic Screenings
* Selection of Name Finalists

Once you have selected your top name candidates from all the different
iterations, they perform a more detailed screening often including:

* Searches against the current United States, European Union and
other selected international trademark databases. These checks are based
on exact and many of the most obvious alternative spellings from the
relevant International Classes. If a match for a confusingly similar
product, service or company is found, the name is flagged as potentially
unavailable.
* Global Internet searches looking for exact spelling matches. We
can also check for URL hits against the most popular top-level domains
like dot-com, dot-net, dot-biz and dot-info, flagging anything we find
of concern.
* Phone book checks searching for matching business phone book
listings in the relevant SIC classifications for each name.
* State trademark checks.
* Profanity screenings for possible vulgar or obscene meanings in
multiple languages.

If you want professionals to help you with choosing a business name, you
can view this business resource here:
http://www.namestormers.com/

The NameStormers
Located just outside of Austin, Texas.

Address:
2811 Declaration Circle
Lago Vista, TX 78645

Phone: 512-267-1814

The List Company

For over a decade, The List Company has researched, compiled and
scientifically analyzed information on American businesses and
consumers. The List Company has established itself as a leader in the
list industry providing the most effective resources for all of your
direct mail and telemarketing needs.

The List Company has a knowledgeable group of professionals ready to
assist you in selecting data of unmatched accuracy that is sure to
vastly increase the probability of success with your project. Our
proprietary analysis and enhancement processes are so vastly different
from the compiled data available from other sources, that they guarantee
the quality of their lists in writing.

You can:

==> Select by Business Type (SIC), Geography, Job Title, Annual Revenue,
Number of Employees, Credit Rating, etc.
==> Select by Geography, Age. Income, Gender, Marital Status,
Interests/Hobbies, Purchasing Behavior, Home Value, Length of Residence,
==> Thousands of Targeted Specialty Lists

In their FAQ Section questions like below are answered:

How accurate is your data?

The List Company data is so much more accurate than standard
commercially available marketing data that top companies have come to
rely of our compilations. We even go so far as to guarantee the
deliverability and contact rate of our data in writing. This is a
guarantee that no other data provider makes. Our data is, of course,
continuously updated with NCOA software (National Change of Address),
CASS Certification, and every standard accuracy process. In order to
serve you clean, deliverable data that exceeds industry standards we go
many steps further using our own cross referencing and data validation
methods. Because we have the privilege of living in a free society, no
list on the market can be 100% deliverable at any one point in time.
People move, change jobs, marry, have children, buy homes, sell homes
and make other lifestyle changes every moment of every day. Ultimately
it’s the number of responses received and the accuracy of the selection
process that sets us apart from other providers.

Are we safe in regards to the DNC regulations?

The List Company is in full compliance with the DNC and all other
federal, state and municipal laws. We work hard to keep up with the laws
that affect our industry so that you are protected, as well.

You can visit this business resource here:
http://www.tlclists.com/

Gale.com

Thomson Gale ™ (www.gale.com), a business of the Thomson Corporation, is
a world leader in e-research and educational publishing for libraries,
schools and businesses. Best known for its accurate and authoritative
reference content as well as its intelligent organization of full-text
magazine and newspaper articles, the company creates and maintains more
than 600 databases that are published online, in print and in microform.

In addition to serving the school and library communities, Thomson Gale
also licenses its proprietary content for integration within Web-based
information services. Nearly 100 organizations — including Looksmart,
Borders, Dow Jones and Thomson Financial — presently enjoy strategic
business distribution partnerships with Thomson Gale.

Gale is a great business resource for picking some marketing resources
for you to use at no-charge. A sample of what they have for you is:

Print/Design Production Guideline
==========================
The print production process is very critical to the success of your
direct mail efforts. A fundamental understanding of design and
production techniques will ensure that your final campaign elements
reflect your original ideas and concepts. Use this guideline to get
familiar with several types of direct mail formats, as well as various
design requirements.

Low Resolution [pdf, 36k]
High Resolution [pdf, 324k]

Plus:
Mail House Guideline
=================
Direct mail is an efficient, effective and economical way to get your
message out to your customers. Direct mail traditionally offers several
key advantages over other forms of marketing, including selectivity,
reach, flexibility, control, impact and response. Use this guideline to
familiarize yourself with the procedures involved for a successful
direct mail campaign.

Low Resolution [pdf, 38k]
High Resolution [pdf, 331k]

Plus a few more well worth downloading. You can visit this great
resource here:
http://www.gale.com/free_resources/marketing/support/