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  1. #1

    Home Loan Research

    Home equity loanA home equity loan is a type of loan in which theborrower uses the equity in his home as collateral.These loans are sometimes useful for families to helpfinance major home repairs, medical bills or collegeeducations. A home equity loan creates a lien againstthe house.Home equity loans are most commonly second positionliens (second trust deed), although they can be heldin first or, less commonly, third position. Most homeequity loans require good to excellent credit history,and reasonable loan-to-value and combined loan-to-valueratios. Home equity loans come in two types, closed endand open end.Both are usually referred to as second mortgages, becausethey are secured against the value of the property, justlike a traditional mortgage. Home equity loans and linesof credit are usually, but not always, for a shorter termthan first mortgages. In the United States, it is sometimespossible to deduct home equity loan interest on one'spersonal income taxes.Closed end home equity loanThe borrower receives a lump sum at the time of the closingand cannot borrow further. The maximum amount of money thatcan be borrowed is determined by variables including credithistory, income, and the appraised value of the collateral,among others. It is common to be able to borrow up to 100%of the appraised value of the home, less any liens, althoughthere are lenders that will go above 100% when doingover-equity loans.Closed-end home equity loans generally have fixed rates andcan be amortized for periods usually up to 15 years. Somehome equity loans offer reduced amortization whereby at theend of the term, a balloon payment is due. These largerlump-sum payments can be avoided by paying above the minimumpayment or refinancing the loan.Open end home equity loanThis is a revolving credit loan, also referred to as a homeequity line of credit (HELOC), where the borrower can choosewhen and how often to borrow against the equity in the property,with the lender setting an initial limit to the credit linebased on criteria similar to those used for closed-end loans.Like the closed-end loan, it may be possible to borrow up to100% of the value of a home, less any liens. These lines ofcredit are available up to 30 years, usually at a variableinterest rate. The minimum monthly payment can be as low asonly the interest rate that is due.Typically, the interest rate is based on the Prime rate plusa margin.See also:- Borrowing against your home - from Motley Fool website- Get home equity loan - from Internet- Putting Your Home on the Loan Line is a Risky Business - from FDIC- Search internet for home equity loan- See latest home equity loan ratesExternal Links:- Refinancing Home Equity Loan- Bad Credit Home Equity Loan- Home Equity Loan Interest Rate- Home Equity Loan CalculatorIf you liked this article contact me by email or ICQ.Thanks for the patience, Loraf.

  2. #2
    Join Date
    May 2005
    Planet Gong

    Re: Home Loan Research

    And he's back, burying the links to his latest useless PPC site in a chaff of Wikipedia links.

  3. #3

    Re: Home Loan Research

    Thank you for such good information. I am wondering if you have seen a company calledd FREEDOM FINANCIAL? You can check thier website at Part of one of thier 8 programs use money from equity to pay off credit cards, etc. faster. Cost to the owner of the home 3% to 6% of the estimated savings over the time to retire the mortgage, usually half the contracted time with a savings of well over $1000,000. I joined, cost $25 one time fee. They claim to save serious money by using present payments in a more efficient manner. I will make a good commission by introducing people to the plan, it does have a commission sharing plan, if I bring others to the business, but only one level. I would appreciate any information you may have. David 206 721 1793

  4. #4

    gonetoosoon Memorial Website


    I can't help but post about this site. That page asks for donations and claims it cost 27,000 to make the site. It did not. I used to work for this company and actually created that site. It took me about a month on and off to put it together, and costs nothing to run, with very little interaction to moderate it.

    The servers it runs on are paid for by chat lines, which make millions of pounds per year, so the tiny amount of space used to host gonetoosoon is a drop in the ocean.

    But that's not all - check out the "Help Gonetoosoon" page . The phone number listed is an 0906 number which costs you 1.00 per minute to phone. Completely unnecessary, especially since they can do an 0906 number at 2p/min.
    Also, from my experience, if you were to phone that number from a mobile, you're likely to receive chat line and porn site SMS messages as numbers are collected and spammed, on the basis that you opted in by phoning any of their numbers.

    While making the site the impression was given that it was a charitable venture. It is not. I am truly disgusted at the fact that multi-millionaire Terry George is trying to make money from both those suffering the loss of a loved one and those who want to help.
    Last edited by wheresjimbob; 07-02-2007 at 12:12 AM. Reason: making title more descriptive

  5. #5
    Join Date
    Sep 2005

    Non profit organizations

    Most non profit corporations are usually 501(c)(3) which are tax exempt. They receivereceive their 501(c)(3) certificate from the IRS and you may ask to view it. Its public record since they rely on donations. Most churches are 501(c)(3) non profit organizations.

    In Pennsylvania all non profits must go thru the Pennsylvania State Attorneys Office. They have charities regulations on their website. You can pretty much checkout most charities regulations at your states Attorney Generals Offices.

    Wendell H. Fears Chairman
    Fears & Fears Investigations and Intelligence Agency

  6. #6
    Join Date
    Apr 2008

    Re: Non profit organizations

    Are their salary limitations for the board members of non-profits? I've always wondered what the people at the top where making.

  7. #7

    Artists beware!

    The Exposed Arts Foundation (exposedarts.org) claims to be a non-profit foundation but has not registered in the State of South Carolina as such. This one-man garage setup promises to set up a website, but then refuses to make requested changes, relinquish control to the artist or give the artist access to email created for the site. Once the "foundation" has your images, you have no guarantee the images will not be copied or sold without your knowledge. This "foundation" also may decide he doesn't like dealing with you any longer, so defiles your site with slanderous information, and now has your images to use as he likes. Avoid this scammer!

  8. #8
    Join Date
    Sep 2008
    in a house

    Re: Artists beware!

    That 's too bad. My Mother had someone steal her art long ago.

  9. #9

    Urban Souls, LLC

    These people go door-to-door with the same line - "Hi, I used to be on drugs. I now sell magazine subscriptions as a way to learn about becoming responsible"... blah blah blah.

    We bought a subscription, which cost $44 for 1 year of Nat'l Geographic. The extra cost is to go to the organization and the 'independent contractor'. We've never received anything. It says allow 120 days for delivery. It's been about 5 months. We called the phone # given 4 times over a period of a month with NO response. We've emailed at the email given, with NO response. The website is flaky.

    Report these people if they come to your city or town. They are: Urban Souls, LLC 2504 West Sugar Creek Road, Charlotte, NC 28262 (704) 631-7037

  10. #10

    Re: Urban Souls, LLC - Anointed Souls, LLC

    I see Urban Souls, LLC has taken down their web site. They now go by the name of Anointed Souls, LLC. They still have not contacted me.
    Their new web site is www.anointedsoulsllc.com

    You just get a recording that they are unavailable whenever you try to call the phone number on the web site.

    I wonder how many other subscriptions they take without delivering on the order.

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