Three out of four mortgage lenders and auto lending companies rely on your credit check score to determine your trustworthiness as a borrower. If you are ever planning to borrow money for any reason, the importance of this credit rating score cannot be over emphasized.
WHAT IS A CREDIT CHECK SCORE?
The concept of using a score to determine the trustworthiness of a particular borrower was developed by Fair, Isaac and Company (FICO), a data provider out of San Rafael, California approximately twenty years ago. It is commonly referred to now as the FICO score. It is the benchmark in the lending world for establishing your soundness and reliability as a borrower. This credit check score consists of a number ranging from 300 to 850. This innovative scoring system is calculated from the information that your creditors furnish to the credit bureaus. This compiled data is then recorded in your credit report.
HOW DOES THE CREDIT CHECK SCORE AFFECT THE BORROWER?
In the not so distant past the only way to really keep track of your credit was to pay for a credit report and hope (while keeping your fingers crossed) that paying all of your obligations on time and other valuable habits would make you deserving in the eyes of the almighty lender. The credit check score was available to the lender but not to the person who was applying for the credit.
It was not until recently that this mysterious piece of your financial picture, your credit check score - the authoritative guideline that the lenders relied on - became available to the consumer for the first time. This was really a powerful tool for the borrower, because now they could begin to see how to help their financial profile look more attractive to the lending agencies.
WHAT DOES THE CREDIT CHECK SCORE TELL THE LENDER?
So what does this credit check score (also known as your FICO score) that all the banks, mortgage lenders, credit card companies and other lending entities use, actually tell the lender? In a nutshell, it shows the loan company just how trustworthy you are with your creditors.
The theory behind this scoring model is that previous financial behavior will indicate future performance. That is, the higher your credit check score, the more likely the statistical probability is that you will repay the loan in a timely manner.
HOW IS YOUR CREDIT CHECK SCORE DETERMINED?
This credit rating score is determined by measuring your borrowing history with all the other people in America who also have a credit history. The financial experts using certain forecast models analyze a certain number of consumers who started a loan or opened a line of credit at the same time. They then determine who actually paid back the debt or who defaulted on the loan. These specialists also look to see how quickly the loan was repaid. Both kinds of borrowers - the payers and the non-payers - are looked at to find the traits they had in common when they applied for their loans.
WHAT NUMBER IS A GOOD CREDIT CHECK SCORE?
So once the score is determined, what do the numbers represent? In the world of lending a credit score above 700 is considered a fairly secure loan to underwrite. If the credit check score is in the 600 range, it presents more problems. The FICO forecast model indicates that the delinquency rate for borrowers with a credit rating score of 630 is approximately 30 percent. Those borrowers with scores of 750 have a default rate of only 2 percent.
WHY IS IT IMPORTANT TO HAVE A HIGH CREDIT RATING SCORE?
This important credit rating score is used to decide how much of a risk you represent to the lender. So in the beginning stages, it can certainly be the difference in whether or not you even get the loan.
The second factor is also extremely important to the borrower, because the credit check score also establishes the rate of interest the lender will charge. Obviously, if the lender considers you a higher risk he will accordingly charge you a higher rate of interest on your loan. This can ultimately cost the borrower thousands of dollars over the life of the loan.
Saturday, 19 March 2011
What Are the Different Kinds of Mortgages?
There are literally thousands of loan programs available in the market. Every lender tries to be as different as they can to create a special niche, which they hope will increase business. It would be impossible to provide a review of every type of loan, so in this article, we'll just stick to the main ones. Most loan programs are variations of the loans we will cover here. First of all we will go over some terminology you should understand and then we will delve into the different mortgage programs available today.
AMORTIZATION
Amortization is the paying back of the money borrowed plus interest. The actual term, or length of the mortgage along with the amortization is what determines what the payments will be and when the loan will be paid off. It is a means of paying out a predetermined sum (the principal) plus interest over a fixed period of time, so that the principal is completely eliminated by the end of the term. This would be easy if interest weren't involved, since one could simply divide the principal amount into a certain number of payments and be done with it. The trick is to find the right payment amount,which includes some principal and some interest. The formula of amortization uses only 12 days a year to compute the interest. The interest payment on a mortgage is calculated by multiplying 1/12th (one-twelfth) of the interest rate times the loan balance of the previous month.
On a 30-year, $150,000 mortgage with a fixed interest rate of 7.5 percent,a homeowner who keeps the loan for the full term will pay $227,575.83 in interest. The lender does not expect that person to pay all that interest in just a couple of years so the interest is spread over the full 30-year term. That keeps the monthly payment at $1,048.82.
The only way to keep the payments stable is to have the majority of each month's payment go toward interest during the early years of the loan. Of the first month's payment, for instance, only $111.32 goes toward principal. The other $937.50 goes toward interest. That ratio gradually improves overtime, and by the second-to-last payment, $1,035.83 of the borrower's payment will apply to principal while just $12.99 will go toward interest.
There are four types of loans when dealing with amortization and term. They are:
1. Fixed: with conventional fixed rate mortgages, the interest rate will stay the same for the life of the loan. Consequently the mortgage payment (Principal and Interest) also stays the same. Changes in the economy or the borrower's personal life do not affect the rate of this loan.
2. Adjustable: (ARM) also called variable rate mortgages. With this loan the interest rates can fluctuate based on the changes in the rate index the loan is tied to. Common indexes are 30 year US Treasury Bills and Libor (London Interbank Offering Rate). Interest rates on ARMs vary depending on how often the rate can change. The rate itself is determined by adding a specific percentage, called margin, to the rate index. This margin allows the lender to recover their cost and make some profit.
3. Balloon: A loan that is due and payable before it is fully amortized. Say for example that a loan of $50,000 is a 30-year loan at 10% with a five-year balloon. The payments would be calculated at 10% over 30 years, but at the end of the five years the remaining balance will be due and payable. Balloon mortgages may have a feature that would allow the balloon to convert to a fixed rate at maturity. This is a conditional offer and should not be confused with an ARM. In some cases, payments of interest only have to be made, and sometimes the entire balance is due and the loan is over. Unpaid balloon payments can lead to foreclosure and such financing is not advisable to home buyers. Balloons are used mainly in commercial financing.
4. Interest only: This type of loan is not amortized. Just like the name implies the payments are of interest only. The principal is not part of the payment and so does not decline. Interest only loans are calculated using simple interest and are available in both adjustable rate loans and fixed rate loans.
Fixed rate: The fixed rate loan is the benchmark loan against which all other loans are compared to. The most common types of fixed rates loans are the 30 year and the 15 year loans. The 30 year loan is amortized over 30 years or 360 payments while the 15 year is amortized over 180 payments. For the borrower, the 15 year loan has higher payments, since the money needs to be repaid in half the time. But because of that same feature the interest paid to the bank is much lower as well.
Even though these two are the most common terms, others are gaining in popularity, such as the 10, 20, 25, and even 40 year term loans Depending on the lender, the shorter the term, the less risk, and thus the lower the rate.
Other types of fixed rate loans:
BI-WEEKLY MORTGAGE
The bi-weekly mortgage shortens the loan term of a 30 year loans to 18 or 19 years by requiring a payment for half the monthly amount every two weeks. The biweekly payments increase the annual amount paid by about 8 percent and in effect pay 13 monthly payments (26 biweekly payments) per year. The shortened loan term decreases the total interest costs substantially.
The interest costs for the biweekly mortgage are decreased even farther, however, by the application of each payment to the principal upon which the interest is calculated every 14 days. By nibbling away at the principal faster, the homeowner saves additional interest. The ability to qualify for this type of loan is based on a 30-year term, and most lenders who offer this mortgage will allow the home buyer to convert to a more traditional 30-year loan without penalty.
GRADUATED PAYMENT MORTGAGE (GPM)
This loan is a good idea for buyers who expect their income to rise in the future. A GPM will start these borrowers off at a much lower than market interest rate. This allows them to qualify for a larger loan than they would otherwise. The risk is that they assume they will have enough income to pay increased payments in the future. This is similar to an ARM but the rate increases at a set rate, not like the ARM where the rate is based on the market. For example, a GPM for 30 years might start out with an interest rate of 5% for the first 6 months, adjust to 7% for the next year, and adjust upwards .5% every 6 months thereafter.
GROWING EQUITY MORTGAGE (GEMS)
For as long as mortgages have been around conventional fixed loans have been the standard against which creative financing has been measured. In the early 1980s the GEM was developed as a new alternative to creative financing. The GEM loan, while amortized like a conventional loan, uses a unique repayment method to save interest expense by 50% or more. Instead of paying a set amount each month, GEM loans have a graduated payment increase that can be calculated by increasing the monthly payment 2, 3, 4, or 5 percent annually during the loan. Or the monthly payments can be set to increase based on the performance of a specific market index.
So far it is sounds like a graduated payment mortgage but there is a difference. As monthly payments rise, all additional money paid by borrowers is used to reduce the principle balance. This results in a loan paid off in less than 15 years.
REVERSE MORTGAGES
While a reverse mortgage is not exactly a fixed rate mortgage (it is more of an annuity), I have included it here because the payments made to the home buyers are fixed. Reverse mortgages are designed especially for elderly people with equity in their homes but limited cash. They allow individuals to retain home ownership while providing needed cash flow. In a traditional mortgage, the homeowners repay the amount borrowed over a specified period of time. With a reverse mortgage the homeowner receives a specified amount every month.
To illustrate, say Mr. and Mrs. Smith are 70 and 65 years old respectively and retired. Their home is free from all encumbrances and worth $135,000. They would like to get the money out of their house to enjoy it, but instead of receiving it in one lump sum by refinancing it, they want to receive a little bit every month. Their lender arranges for a $100,000 reverse mortgage. They will get $500 a month from their equity and the lender will earn 9% interest.
Unlike other mortgages where the same $100,000 represents only the principle amount, with a reverse mortgage $100,000 is equal to the combined total of all principal and interest. On this particular loan, at the end of 10 years and 3 months, the Smiths will owe $100,000. The breakdown being $61,500 principle and $38,500 in interest. At this time the loan will end. So the Smiths will only receive $61,500, and they now owe the bank $100,000.
ADJUSTABLE RATE MORTGAGES
An ARM is a type of loan amortization where the most prevalent feature is that the interest rate adjusts during the course of the loan. Thanks to the adjustable rate feature, banks and lenders are better protected in case interest rates fluctuate wildly like in the 1970s when banks were lending at 8% fixed and then rates went as high as 18%. This left the banks holding loans that were losing money every month since the banks had to pay money to depositors at higher rates then they were making on their investments.
Important Tip: ARM interest rates are usually lower than fixed rates.There are multiple types of ARM loans in the market today. They all This makes it easier for borrowers to qualify for a larger loan amount with an ARM. differ from each other in minor but important ways. There are four main criteria to look at when dealing with an ARM loan: the Index used, the Margin, the Cap, and the Adjustment Frequency.
INDEX
The interest rates of an ARM loan are based on an Index, which is a published rate. The most common used indexes are:
COFI - The Cost of Funds Index. This index is related with the 11th District Federal Home Loan Bank Board in California. This index is also the most stable of all the common indexes.
The Treasury Series - This is a series of maturity lengths for Treasury Bills. These bills are used as investments by millions and are actively traded every day and so the rate varies daily.
LIBOR - The London Inter Bank Offered Rate is the rate the central bank in England uses to lend money to its banks.
Prime - This rate is the rate that banks in the US use to lend money to their best clients. This number is published daily in US newspapers, but it is important to know that each bank can set it's own Prime rate.
CDs - This index is from the rate paid to purchased of 6 month Certificates of Deposits.
MARGIN
Margin is defined as the amount added to the index rate to determine the current rate charged on the ARM. Once you add the margin to the index rate you arrive at what is called the Fully Indexed Rate (FIR). This rate is the true rate which the borrower will pay. The interest rate quoted to a borrower at closing might be lower then the FIR.
LOAN CAPS
The Cap is a very important number because it is the maximum that a rate can change. So even if the index rises 10% in one period, the FIR will not do so if there the rate cap is reached. There are two types of caps to worry about when discussing an ARM. The Rate Adjustment Cap which is the maximum the rate can change from one period to another. And the Life of the Loan Cap which is the maximum rate that can be charged during the loan. To figure out how the rate will change, you have to know the index, the margin, the rate, and the cap. Add the index and the margin to determine the FIR. Then take the rate and add it to the cap. Whichever is the smaller change is what the new interest rate will be.
ADJUSTMENT FREQUENCY
This is how often the rate changes. Initially when the loan is closed the rate will be fixed for a certain amount of time, then it will start changing. How often it changes is the Adjustment Frequency. So you can have a 7/1 Arm which means the rate will be fixed for 7 years, and then adjust every year after. Or you can have a 3/1 ARM. Fixed for 3 years. The more frequent the adjustment and the sooner it starts, the lower the initial interest rate. So a 3/1 ARM will have a lower rate then a 10/5 will. And that is because the 10/5 has more risk for the lender. The 10/5rate will be much closer to a fixed rate loan.
When a borrower considers an ARM, it is usually because the rate is lower then the fixed rate loan. And thus it is easier to qualify for. But the borrower is then betting against the bank. The ARM loan might turn out to be more expensive then the fixed rate loan in the long run, if rate rise during the term of the loan.
You must have an idea of how long you are going to live in the house you are borrowing to buy. If you are going to stay there long-term, a fixed-rate may make more sense. ARM's are better for military and other people who buy and sell within shorter time periods.
CONVENTIONAL MORTGAGE
A conventional mortgage is a non-government loan financed with a value less than or equal to a specific amount established each year by major secondary lenders. As of 2008, financing for less than $417,000 was regarded as conventional financing. A conventional loan is the most popular loan today, as so it has become the benchmark against all the other mortgages. It has 4 special features:
1. Set monthly payments
2. Set interest rates
3. Fixed loan term
4. Self amortization
A conventional loan is one that is secured by government sponsored entities such as Fannie Mae and Freddie Mac. Since they are secured, the lender is assured that they can easily sell the loan on the secondary market.
And because of that assurance, these loans have the lowest rates.
In order to qualify as a conventional loan, the home and borrowers must fall into the guidelines set by the secondary lenders.
HOME EQUITY LOANS
Real estate has traditionally been considered a non-liquid asset. Property can be converted to cash only by either selling or refinancing. Both are very expensive and time-consuming ways to raise money. Today's borrowers can convert their house to cash immediately by using the equity in their home.
These loans take much less time to approve and fund then regular home loans. And the fees are generally less than a normal loan as well. But home equity loans are usually placed in a second lien position after the original mortgage, at a higher interest rate. If the borrower does not pay, the house could be foreclosed upon.
The Equity Loan is an open ended mortgage similar to a credit card. Borrowers can take the money out, use it, and pay back the money when they choose. Recently, home equity loans have brought about new government regulations in some states since people were getting these loans without really understanding the consequences and thus being taken advantage of by less than honest lenders.
SECOND MORTGAGES
A second mortgage is a loan against a property in second or "junior" position. In case of foreclosure, the creditor in first position gets first dibs on any monies. In many cases, there is not enough equity in a house to pay off both the first and second mortgage. So the second mortgage holder can get nothing. Therefore, being in second position can be a very risky place to be.
That is why second mortgages come with higher rates then first mortgages. Second mortgages come in two main forms - a fixed mortgage and a home equity mortgage. The fixed mortgage follows the same format as a regular fixed loan. The equity mortgage is based on equity in the home.
Second mortgages are used by loan officers to either help the borrower avoid paying PMI, or to avoid a jumbo loan. A jumbo loan would be a non-conforming loan and thus would have a higher rate for the entire loan. If a borrower wanted to avoid this, he could get a first mortgage at the max conventional loans allow, and a second for the balance. The rate on the second would be high, but blended together, the rate would be less than on the jumbo.
GOVERNMENT LOANS
There are two governmental agencies that guarantee loans: The Department of Veterans Affairs (VA), and the Federal Housing Administration (FHA).
VA LOANS
VA loans are one of two types of government loans and are guaranteed by The Department of Veterans Affairs under the Serviceman's Readjustment Act. Lenders rely on this guarantee to reduce their risk. The best thing about VA loans is that for veterans is allows them to get into a house with zero or very little down. The amount of down payment required depends on the entitlement and the amount of the loan. Military service requirements vary. These loans are available to active-duty as well as separated military veterans and their spouses.
These loans are self-amortizing if held for the complete term of the loan, yet it may be paid off without penalty. These loans are only available through approved lenders. The amount of entitlement a veteran has is reported in a Certificate of Eligibility which must be obtained from the VA office in your area.
Veterans who had a VA loan before may still have "remaining entitlement" to use for another VA loan. The current amount of entitlement was much lower previously and has been increased by changes in the law. For example, a veteran who obtained a $25,000 loan in 1974 would have used$12,500 guaranty entitlement, the maximum then available. Even if that loan is not paid off, the veteran could use the difference between the $12,500 entitlement originally used and the current maximum to buy another home with VA financing.
Most lenders require that a combination of the guaranty entitlement and any cash down payment must equal at least 25 percent of the reasonable value or sales price of the property- whichever is less. Thus, in the example, the veteran's $23,500 remaining entitlement would meet a lender's minimum guaranty requirement for a no down payment loan to buy a property valued at and selling for $94,000. The veteran could also combine a down payment with the remaining entitlement for a larger loan amount.
FHA LOANS
The Federal Housing Administration is one of the oldest and largest sources of mortgage assistance available to the general public. The Department of Housing and Urban Development (HUD) run this program.
FHA backed mortgages are the other type of government loans and are an outgrowth of policy in the interest of the public, with the view that the government should stimulate the economy in general and the housing industry in particular. FHA loans like VA loans can only be obtained through approved lenders.
Why are FHA loans so popular? Because they have liberal qualifying standards, low or even no down payments and even closing costs can be financed and added to the loan. There is no prepayment penalty. FHA loans made prior to February 4, 1988 are freely assumable by a new buyer when the house is sold. Loans made after December 15, 1989 may only be assumed by qualified owner-occupants and cannot be assumed by investors.
FHA loans have limits too. Recent housing appreciation has pushed up the limits on this year's loan program by nearly 16 percent in the continental U.S.
If you want to find out what the loan limit is where you live you can call the consumer hotline for the Housing and Urban Development Department . Their toll-free number is available on their site. The FHA is a division of HUD.
As always, consult a mortgage professional. A Certified Mortgage Planner will work with your own financial planner, Realtor, CPA and other advisers to find a mortgage loan product that is right for you.
AMORTIZATION
Amortization is the paying back of the money borrowed plus interest. The actual term, or length of the mortgage along with the amortization is what determines what the payments will be and when the loan will be paid off. It is a means of paying out a predetermined sum (the principal) plus interest over a fixed period of time, so that the principal is completely eliminated by the end of the term. This would be easy if interest weren't involved, since one could simply divide the principal amount into a certain number of payments and be done with it. The trick is to find the right payment amount,which includes some principal and some interest. The formula of amortization uses only 12 days a year to compute the interest. The interest payment on a mortgage is calculated by multiplying 1/12th (one-twelfth) of the interest rate times the loan balance of the previous month.
On a 30-year, $150,000 mortgage with a fixed interest rate of 7.5 percent,a homeowner who keeps the loan for the full term will pay $227,575.83 in interest. The lender does not expect that person to pay all that interest in just a couple of years so the interest is spread over the full 30-year term. That keeps the monthly payment at $1,048.82.
The only way to keep the payments stable is to have the majority of each month's payment go toward interest during the early years of the loan. Of the first month's payment, for instance, only $111.32 goes toward principal. The other $937.50 goes toward interest. That ratio gradually improves overtime, and by the second-to-last payment, $1,035.83 of the borrower's payment will apply to principal while just $12.99 will go toward interest.
There are four types of loans when dealing with amortization and term. They are:
1. Fixed: with conventional fixed rate mortgages, the interest rate will stay the same for the life of the loan. Consequently the mortgage payment (Principal and Interest) also stays the same. Changes in the economy or the borrower's personal life do not affect the rate of this loan.
2. Adjustable: (ARM) also called variable rate mortgages. With this loan the interest rates can fluctuate based on the changes in the rate index the loan is tied to. Common indexes are 30 year US Treasury Bills and Libor (London Interbank Offering Rate). Interest rates on ARMs vary depending on how often the rate can change. The rate itself is determined by adding a specific percentage, called margin, to the rate index. This margin allows the lender to recover their cost and make some profit.
3. Balloon: A loan that is due and payable before it is fully amortized. Say for example that a loan of $50,000 is a 30-year loan at 10% with a five-year balloon. The payments would be calculated at 10% over 30 years, but at the end of the five years the remaining balance will be due and payable. Balloon mortgages may have a feature that would allow the balloon to convert to a fixed rate at maturity. This is a conditional offer and should not be confused with an ARM. In some cases, payments of interest only have to be made, and sometimes the entire balance is due and the loan is over. Unpaid balloon payments can lead to foreclosure and such financing is not advisable to home buyers. Balloons are used mainly in commercial financing.
4. Interest only: This type of loan is not amortized. Just like the name implies the payments are of interest only. The principal is not part of the payment and so does not decline. Interest only loans are calculated using simple interest and are available in both adjustable rate loans and fixed rate loans.
Fixed rate: The fixed rate loan is the benchmark loan against which all other loans are compared to. The most common types of fixed rates loans are the 30 year and the 15 year loans. The 30 year loan is amortized over 30 years or 360 payments while the 15 year is amortized over 180 payments. For the borrower, the 15 year loan has higher payments, since the money needs to be repaid in half the time. But because of that same feature the interest paid to the bank is much lower as well.
Even though these two are the most common terms, others are gaining in popularity, such as the 10, 20, 25, and even 40 year term loans Depending on the lender, the shorter the term, the less risk, and thus the lower the rate.
Other types of fixed rate loans:
BI-WEEKLY MORTGAGE
The bi-weekly mortgage shortens the loan term of a 30 year loans to 18 or 19 years by requiring a payment for half the monthly amount every two weeks. The biweekly payments increase the annual amount paid by about 8 percent and in effect pay 13 monthly payments (26 biweekly payments) per year. The shortened loan term decreases the total interest costs substantially.
The interest costs for the biweekly mortgage are decreased even farther, however, by the application of each payment to the principal upon which the interest is calculated every 14 days. By nibbling away at the principal faster, the homeowner saves additional interest. The ability to qualify for this type of loan is based on a 30-year term, and most lenders who offer this mortgage will allow the home buyer to convert to a more traditional 30-year loan without penalty.
GRADUATED PAYMENT MORTGAGE (GPM)
This loan is a good idea for buyers who expect their income to rise in the future. A GPM will start these borrowers off at a much lower than market interest rate. This allows them to qualify for a larger loan than they would otherwise. The risk is that they assume they will have enough income to pay increased payments in the future. This is similar to an ARM but the rate increases at a set rate, not like the ARM where the rate is based on the market. For example, a GPM for 30 years might start out with an interest rate of 5% for the first 6 months, adjust to 7% for the next year, and adjust upwards .5% every 6 months thereafter.
GROWING EQUITY MORTGAGE (GEMS)
For as long as mortgages have been around conventional fixed loans have been the standard against which creative financing has been measured. In the early 1980s the GEM was developed as a new alternative to creative financing. The GEM loan, while amortized like a conventional loan, uses a unique repayment method to save interest expense by 50% or more. Instead of paying a set amount each month, GEM loans have a graduated payment increase that can be calculated by increasing the monthly payment 2, 3, 4, or 5 percent annually during the loan. Or the monthly payments can be set to increase based on the performance of a specific market index.
So far it is sounds like a graduated payment mortgage but there is a difference. As monthly payments rise, all additional money paid by borrowers is used to reduce the principle balance. This results in a loan paid off in less than 15 years.
REVERSE MORTGAGES
While a reverse mortgage is not exactly a fixed rate mortgage (it is more of an annuity), I have included it here because the payments made to the home buyers are fixed. Reverse mortgages are designed especially for elderly people with equity in their homes but limited cash. They allow individuals to retain home ownership while providing needed cash flow. In a traditional mortgage, the homeowners repay the amount borrowed over a specified period of time. With a reverse mortgage the homeowner receives a specified amount every month.
To illustrate, say Mr. and Mrs. Smith are 70 and 65 years old respectively and retired. Their home is free from all encumbrances and worth $135,000. They would like to get the money out of their house to enjoy it, but instead of receiving it in one lump sum by refinancing it, they want to receive a little bit every month. Their lender arranges for a $100,000 reverse mortgage. They will get $500 a month from their equity and the lender will earn 9% interest.
Unlike other mortgages where the same $100,000 represents only the principle amount, with a reverse mortgage $100,000 is equal to the combined total of all principal and interest. On this particular loan, at the end of 10 years and 3 months, the Smiths will owe $100,000. The breakdown being $61,500 principle and $38,500 in interest. At this time the loan will end. So the Smiths will only receive $61,500, and they now owe the bank $100,000.
ADJUSTABLE RATE MORTGAGES
An ARM is a type of loan amortization where the most prevalent feature is that the interest rate adjusts during the course of the loan. Thanks to the adjustable rate feature, banks and lenders are better protected in case interest rates fluctuate wildly like in the 1970s when banks were lending at 8% fixed and then rates went as high as 18%. This left the banks holding loans that were losing money every month since the banks had to pay money to depositors at higher rates then they were making on their investments.
Important Tip: ARM interest rates are usually lower than fixed rates.There are multiple types of ARM loans in the market today. They all This makes it easier for borrowers to qualify for a larger loan amount with an ARM. differ from each other in minor but important ways. There are four main criteria to look at when dealing with an ARM loan: the Index used, the Margin, the Cap, and the Adjustment Frequency.
INDEX
The interest rates of an ARM loan are based on an Index, which is a published rate. The most common used indexes are:
COFI - The Cost of Funds Index. This index is related with the 11th District Federal Home Loan Bank Board in California. This index is also the most stable of all the common indexes.
The Treasury Series - This is a series of maturity lengths for Treasury Bills. These bills are used as investments by millions and are actively traded every day and so the rate varies daily.
LIBOR - The London Inter Bank Offered Rate is the rate the central bank in England uses to lend money to its banks.
Prime - This rate is the rate that banks in the US use to lend money to their best clients. This number is published daily in US newspapers, but it is important to know that each bank can set it's own Prime rate.
CDs - This index is from the rate paid to purchased of 6 month Certificates of Deposits.
MARGIN
Margin is defined as the amount added to the index rate to determine the current rate charged on the ARM. Once you add the margin to the index rate you arrive at what is called the Fully Indexed Rate (FIR). This rate is the true rate which the borrower will pay. The interest rate quoted to a borrower at closing might be lower then the FIR.
LOAN CAPS
The Cap is a very important number because it is the maximum that a rate can change. So even if the index rises 10% in one period, the FIR will not do so if there the rate cap is reached. There are two types of caps to worry about when discussing an ARM. The Rate Adjustment Cap which is the maximum the rate can change from one period to another. And the Life of the Loan Cap which is the maximum rate that can be charged during the loan. To figure out how the rate will change, you have to know the index, the margin, the rate, and the cap. Add the index and the margin to determine the FIR. Then take the rate and add it to the cap. Whichever is the smaller change is what the new interest rate will be.
ADJUSTMENT FREQUENCY
This is how often the rate changes. Initially when the loan is closed the rate will be fixed for a certain amount of time, then it will start changing. How often it changes is the Adjustment Frequency. So you can have a 7/1 Arm which means the rate will be fixed for 7 years, and then adjust every year after. Or you can have a 3/1 ARM. Fixed for 3 years. The more frequent the adjustment and the sooner it starts, the lower the initial interest rate. So a 3/1 ARM will have a lower rate then a 10/5 will. And that is because the 10/5 has more risk for the lender. The 10/5rate will be much closer to a fixed rate loan.
When a borrower considers an ARM, it is usually because the rate is lower then the fixed rate loan. And thus it is easier to qualify for. But the borrower is then betting against the bank. The ARM loan might turn out to be more expensive then the fixed rate loan in the long run, if rate rise during the term of the loan.
You must have an idea of how long you are going to live in the house you are borrowing to buy. If you are going to stay there long-term, a fixed-rate may make more sense. ARM's are better for military and other people who buy and sell within shorter time periods.
CONVENTIONAL MORTGAGE
A conventional mortgage is a non-government loan financed with a value less than or equal to a specific amount established each year by major secondary lenders. As of 2008, financing for less than $417,000 was regarded as conventional financing. A conventional loan is the most popular loan today, as so it has become the benchmark against all the other mortgages. It has 4 special features:
1. Set monthly payments
2. Set interest rates
3. Fixed loan term
4. Self amortization
A conventional loan is one that is secured by government sponsored entities such as Fannie Mae and Freddie Mac. Since they are secured, the lender is assured that they can easily sell the loan on the secondary market.
And because of that assurance, these loans have the lowest rates.
In order to qualify as a conventional loan, the home and borrowers must fall into the guidelines set by the secondary lenders.
HOME EQUITY LOANS
Real estate has traditionally been considered a non-liquid asset. Property can be converted to cash only by either selling or refinancing. Both are very expensive and time-consuming ways to raise money. Today's borrowers can convert their house to cash immediately by using the equity in their home.
These loans take much less time to approve and fund then regular home loans. And the fees are generally less than a normal loan as well. But home equity loans are usually placed in a second lien position after the original mortgage, at a higher interest rate. If the borrower does not pay, the house could be foreclosed upon.
The Equity Loan is an open ended mortgage similar to a credit card. Borrowers can take the money out, use it, and pay back the money when they choose. Recently, home equity loans have brought about new government regulations in some states since people were getting these loans without really understanding the consequences and thus being taken advantage of by less than honest lenders.
SECOND MORTGAGES
A second mortgage is a loan against a property in second or "junior" position. In case of foreclosure, the creditor in first position gets first dibs on any monies. In many cases, there is not enough equity in a house to pay off both the first and second mortgage. So the second mortgage holder can get nothing. Therefore, being in second position can be a very risky place to be.
That is why second mortgages come with higher rates then first mortgages. Second mortgages come in two main forms - a fixed mortgage and a home equity mortgage. The fixed mortgage follows the same format as a regular fixed loan. The equity mortgage is based on equity in the home.
Second mortgages are used by loan officers to either help the borrower avoid paying PMI, or to avoid a jumbo loan. A jumbo loan would be a non-conforming loan and thus would have a higher rate for the entire loan. If a borrower wanted to avoid this, he could get a first mortgage at the max conventional loans allow, and a second for the balance. The rate on the second would be high, but blended together, the rate would be less than on the jumbo.
GOVERNMENT LOANS
There are two governmental agencies that guarantee loans: The Department of Veterans Affairs (VA), and the Federal Housing Administration (FHA).
VA LOANS
VA loans are one of two types of government loans and are guaranteed by The Department of Veterans Affairs under the Serviceman's Readjustment Act. Lenders rely on this guarantee to reduce their risk. The best thing about VA loans is that for veterans is allows them to get into a house with zero or very little down. The amount of down payment required depends on the entitlement and the amount of the loan. Military service requirements vary. These loans are available to active-duty as well as separated military veterans and their spouses.
These loans are self-amortizing if held for the complete term of the loan, yet it may be paid off without penalty. These loans are only available through approved lenders. The amount of entitlement a veteran has is reported in a Certificate of Eligibility which must be obtained from the VA office in your area.
Veterans who had a VA loan before may still have "remaining entitlement" to use for another VA loan. The current amount of entitlement was much lower previously and has been increased by changes in the law. For example, a veteran who obtained a $25,000 loan in 1974 would have used$12,500 guaranty entitlement, the maximum then available. Even if that loan is not paid off, the veteran could use the difference between the $12,500 entitlement originally used and the current maximum to buy another home with VA financing.
Most lenders require that a combination of the guaranty entitlement and any cash down payment must equal at least 25 percent of the reasonable value or sales price of the property- whichever is less. Thus, in the example, the veteran's $23,500 remaining entitlement would meet a lender's minimum guaranty requirement for a no down payment loan to buy a property valued at and selling for $94,000. The veteran could also combine a down payment with the remaining entitlement for a larger loan amount.
FHA LOANS
The Federal Housing Administration is one of the oldest and largest sources of mortgage assistance available to the general public. The Department of Housing and Urban Development (HUD) run this program.
FHA backed mortgages are the other type of government loans and are an outgrowth of policy in the interest of the public, with the view that the government should stimulate the economy in general and the housing industry in particular. FHA loans like VA loans can only be obtained through approved lenders.
Why are FHA loans so popular? Because they have liberal qualifying standards, low or even no down payments and even closing costs can be financed and added to the loan. There is no prepayment penalty. FHA loans made prior to February 4, 1988 are freely assumable by a new buyer when the house is sold. Loans made after December 15, 1989 may only be assumed by qualified owner-occupants and cannot be assumed by investors.
FHA loans have limits too. Recent housing appreciation has pushed up the limits on this year's loan program by nearly 16 percent in the continental U.S.
If you want to find out what the loan limit is where you live you can call the consumer hotline for the Housing and Urban Development Department . Their toll-free number is available on their site. The FHA is a division of HUD.
As always, consult a mortgage professional. A Certified Mortgage Planner will work with your own financial planner, Realtor, CPA and other advisers to find a mortgage loan product that is right for you.
Strangers Are Judging You by Your FICO Credit Score!
My banker said: 'Sorry, we cannot grant the loan. Your FICO score is just too low.' FICO? What does that mean? How can I fix it? Fixing your FICO credit report is easier than you imagine, once you know what you need to fix.
The truth is that you can manipulate your FICO score and repair your credit nearly to what it was before you get any more bad news from a lender. It will take some time and a little work on your part, but it is definitely doable.
Loan companies and other creditors depend on your FICO credit score as their benchmark for lending. The three digit FICO number is their guide to determine if they will give you credit, the interest rate you must be charged for the lender to be safe, and how large a loan potential lenders think you will be able to pay back comfortably.
The guidelines they use are: The national average score is 723. The higher your score is above that, the better credit risk you are. The lower your FICO score is below 750, the worse you are as a credit risk. And, they have no choice in the matter because FICO is the industry standard.
Your FICO credit score tells lenders a lot about who you are as a credit risk so you want your FICO score to be as high as it can be. Let me reassure you - It does not matter how bad your FICO score is now, there are ways that you can raise your FICO credit score! Ours is over 800. We got there in a step-by-step fashion by doing the right things.
The FICO score is a mathematical way to show your credit history distilled into a single number based on past credit history. While there are guesses as to how Fair, Isaac & Co. (FICO) and the three major credit bureaus compute the score, they do not reveal their calculations. To be perfectly honest, even if they told us, we would need a very complex computer program to compute it ourselves.
What we do know is FICO is calculated based on a borrower's credit history after considering numerous factors such as:
... Whether you pay your bills on time
... How long you have had credit (longer the better)
... How much you have borrowed compared to how much you had the ability to borrow
... How long you have lived at your current residence
... If you are a renter or buying a home
... The bad stuff such as: Bankruptcy, write-offs, collection actions, and other such actions
You might be surprised to know that there are really three FICO scores, one each from the major credit bureaus - Experian, Trans Union and Equifax. All lenders use either one of these three scores, or an average of the scores when determining your credit worthiness.
The reason this system is used and has been approved by the federal government is, the FICO score has proven to be an accurate and surprisingly consistent way of showing a our credit worthiness. It has saved companies millions of dollars in credit charge-offs by preventing lending decisions based on human judgment instead of cold mathematics. Over the years, lenders who have used FICO scores to grant or reject loans have been right over 80 percent in those decisions. So you can readily see why the FICO system is here to stay and why you should learn more about it.
Unfortunately, determining the FICO score that a lender might have used when you were rejected for credit can be a challenge. First, your FICO credit score is not shown anywhere on your credit report like you might expect. In fact, for many years, FICO credit scores were a well kept secret. Legislation now requires that anyone can get their FICO score. Secondly, there is still the problem of the three bureaus each issuing their own calculation of FICO scores based on their own versions of your credit history.
You can see why it's vital that you get credit reports and FICO scores from all three bureaus as soon as possible and start to work on raising your FICO credit score.
The truth is that you can manipulate your FICO score and repair your credit nearly to what it was before you get any more bad news from a lender. It will take some time and a little work on your part, but it is definitely doable.
Loan companies and other creditors depend on your FICO credit score as their benchmark for lending. The three digit FICO number is their guide to determine if they will give you credit, the interest rate you must be charged for the lender to be safe, and how large a loan potential lenders think you will be able to pay back comfortably.
The guidelines they use are: The national average score is 723. The higher your score is above that, the better credit risk you are. The lower your FICO score is below 750, the worse you are as a credit risk. And, they have no choice in the matter because FICO is the industry standard.
Your FICO credit score tells lenders a lot about who you are as a credit risk so you want your FICO score to be as high as it can be. Let me reassure you - It does not matter how bad your FICO score is now, there are ways that you can raise your FICO credit score! Ours is over 800. We got there in a step-by-step fashion by doing the right things.
The FICO score is a mathematical way to show your credit history distilled into a single number based on past credit history. While there are guesses as to how Fair, Isaac & Co. (FICO) and the three major credit bureaus compute the score, they do not reveal their calculations. To be perfectly honest, even if they told us, we would need a very complex computer program to compute it ourselves.
What we do know is FICO is calculated based on a borrower's credit history after considering numerous factors such as:
... Whether you pay your bills on time
... How long you have had credit (longer the better)
... How much you have borrowed compared to how much you had the ability to borrow
... How long you have lived at your current residence
... If you are a renter or buying a home
... The bad stuff such as: Bankruptcy, write-offs, collection actions, and other such actions
You might be surprised to know that there are really three FICO scores, one each from the major credit bureaus - Experian, Trans Union and Equifax. All lenders use either one of these three scores, or an average of the scores when determining your credit worthiness.
The reason this system is used and has been approved by the federal government is, the FICO score has proven to be an accurate and surprisingly consistent way of showing a our credit worthiness. It has saved companies millions of dollars in credit charge-offs by preventing lending decisions based on human judgment instead of cold mathematics. Over the years, lenders who have used FICO scores to grant or reject loans have been right over 80 percent in those decisions. So you can readily see why the FICO system is here to stay and why you should learn more about it.
Unfortunately, determining the FICO score that a lender might have used when you were rejected for credit can be a challenge. First, your FICO credit score is not shown anywhere on your credit report like you might expect. In fact, for many years, FICO credit scores were a well kept secret. Legislation now requires that anyone can get their FICO score. Secondly, there is still the problem of the three bureaus each issuing their own calculation of FICO scores based on their own versions of your credit history.
You can see why it's vital that you get credit reports and FICO scores from all three bureaus as soon as possible and start to work on raising your FICO credit score.
Indian Bank Home Loan Interest Rates
Indian Bank offers numerous types of loans. Home loan is a predominant one among them. Home loans are provided both for Indians and Non-Residential Indians. They provide loan for purchasing plots, flats and construction purpose. They provide two different types of interest. They are floating and fixed rate. Usually, fixed rate is the better choice. Since it does not change, they are reliable. The rate of interest depends on various factors. Some of them are term period and loan type. Each type of loan has different rates. 8.00% is the base rate. 12.50% is the Benchmark Prime Lending rate. Rates for different ranges of loan amount are listed below here. The below mentioned rates are recent ones. It was announced on 1.07.2010 only.
The rate of interest for amount less than 20 lakhs is mentioned below:
Term Period - Interest
0-5 yrs - 9.00%
5- 10 yrs - 9.25%
10-15 yrs - 9.50%
15-20 yrs - 9.75%
The interest for loan money in range of 20 lakhs to 30 lakhs is listed below here.
Period - Interest
0-5 years - 9.25%
5- 10 years - 9.50%
10-15 years - 9.75%
15-20 years - 10.00%
The rate of interest for amount in range of 30 lakhs to 2 crores is listed below here.
Tenure - Interest
0-5 years - 9.75%
5- 10 years - 10.00%
10-15 yrs - 10.25%
15-20 yrs - 10.50%
The interest for loan money above 2 crores is 13.50%.
The rate of interest for amount less than 20 lakhs is mentioned below:
Term Period - Interest
0-5 yrs - 9.00%
5- 10 yrs - 9.25%
10-15 yrs - 9.50%
15-20 yrs - 9.75%
The interest for loan money in range of 20 lakhs to 30 lakhs is listed below here.
Period - Interest
0-5 years - 9.25%
5- 10 years - 9.50%
10-15 years - 9.75%
15-20 years - 10.00%
The rate of interest for amount in range of 30 lakhs to 2 crores is listed below here.
Tenure - Interest
0-5 years - 9.75%
5- 10 years - 10.00%
10-15 yrs - 10.25%
15-20 yrs - 10.50%
The interest for loan money above 2 crores is 13.50%.
Types of Mortgage Loan
These days, many banks and financial institutions are ready to offer mortgage loans to people with good credit history. Moreover, they are ready to offer different types of mortgage loans that suit different people with different needs. The following points present some of the different varieties of such loans that banks and financial institutions offer:
1. Term Loans with Fixed-Term Repayment : These are normal term loan schemes where you get a loan for a fixed duration. The rate of interest can be fixed or can vary based on some benchmark rate.
2. Overdraft-Loan : These are loans in the form of current account overdraft where surplus funds can be parked and therefore interest burden can be minimized. Every month, the overdraft limit is reduced as per the Equated Monthly Installment (EMI) amount.
3. Flexible-Loans : These are loans with a fixed rate of interest for one part of the loan and a floating rate of interest for the other part. It can be designed as per the convenience of the applicant and up to what is allowed under the rules of the bank/financial institution
4. Fixed Interest Loan: These are loans with a fixed rate of interest for the entire duration of the loan. It is well protected against market rate fluctuations. Generally, these rates are somewhat higher than the market rate.
5. Floating Interest Loan: Floating rate of interest is the rate that is linked to the Central Bank's (Federal Reserve) prime lending rate. If the Central Bank increases (decreases) the prime lending rate, then the bank/financial institution also increases (decreases) its interest rate.
1. Term Loans with Fixed-Term Repayment : These are normal term loan schemes where you get a loan for a fixed duration. The rate of interest can be fixed or can vary based on some benchmark rate.
2. Overdraft-Loan : These are loans in the form of current account overdraft where surplus funds can be parked and therefore interest burden can be minimized. Every month, the overdraft limit is reduced as per the Equated Monthly Installment (EMI) amount.
3. Flexible-Loans : These are loans with a fixed rate of interest for one part of the loan and a floating rate of interest for the other part. It can be designed as per the convenience of the applicant and up to what is allowed under the rules of the bank/financial institution
4. Fixed Interest Loan: These are loans with a fixed rate of interest for the entire duration of the loan. It is well protected against market rate fluctuations. Generally, these rates are somewhat higher than the market rate.
5. Floating Interest Loan: Floating rate of interest is the rate that is linked to the Central Bank's (Federal Reserve) prime lending rate. If the Central Bank increases (decreases) the prime lending rate, then the bank/financial institution also increases (decreases) its interest rate.
Home Loan Rates Hit the Roof
New home buyers and those who have already taken loans under floating rates should prepare for tough times ahead. On Monday, Housing Development and Finance Corp (HDFC), the leader in the home loan market, and ICICI Bank, the largest private sector bank in India, both announced raising home loan rates for existing as well as new customers by as much as 75 basis points (100 basis points=1%). Both the entities also announced raising deposit rates. The hike in interest rates as well as deposit rates for HDFC is effective July 1 while for ICICI Bank it was June 30.
Post this hike, for existing HDFC customers, for every Rs 1 lakh of home loan of 20 years tenure under the floating rate, the increase in monthly instalment would be Rs 34 while for loans of 15 years, the increase would be Rs 32. For new customers, for every Rs 1 lakh of loan for a 20-year tenure, the EMI would work out to Rs 1,033. The hikes come after the Reserve Bank of India (RBI) raised key rates for banks last week by 50 bps, the second increase this month. The RBI decision was aimed at bringing down inflation rate, which, at 11.42% last week, is at a 13-year high level. SBI, the country's biggest bank, increased its lending rate by 50bps to 12.75% last Thursday. Some other PSU banks-Union Bank, State Bank of Bikaner & Jaipur and Corporation Bank-have also followed SBI in increasing rates.
HDFC has however spared its existing customers some inconvenience by raising floating rate by 50 basis points (bps), while new customers would be faced with a hike of 75 bps. In ICICI Bank, the 75bps hike is acrossthe-board. For new home loan customers with HDFC, the floating rate of interest would be at a minimum of 11% per annum, while the fixed rates will be at 14%, a release from the company said. HDFC has also increased its rates on deposits by 50 basis points for most tenures. The rate of interest on consumer loans from ICICI Bank has also been increased by 75bps. The bank has increased its floating reference rate (FRR) for consumer loans by 75 basis points with effect from June 30. The revised FRR will be 13.50% per annum from 12.75% at present, a release from the bank said.
Bank of India increased its benchmark prime lending rate by 0.5 per cent to 13.25 per cent. With this, loans in all segments except auto, home and agriculture portfolios will become dearer to BoI's borrowers, a senior BoI official said. "Interest rates on all PLRrelated loans except home, auto and agriculture segments will go up with the PLR hike with effect from July 1," the official said. Dena Bank announced a 0.5 per cent hike in PLR. The bank also hiked its domestic term deposit rates by 0.25-0.75 per cent for various maturities. Allahabad too decided to increase its benchmark prime lending rate by 0.5 per cent to 13.50 per cent, effective July 2.
Post this hike, for existing HDFC customers, for every Rs 1 lakh of home loan of 20 years tenure under the floating rate, the increase in monthly instalment would be Rs 34 while for loans of 15 years, the increase would be Rs 32. For new customers, for every Rs 1 lakh of loan for a 20-year tenure, the EMI would work out to Rs 1,033. The hikes come after the Reserve Bank of India (RBI) raised key rates for banks last week by 50 bps, the second increase this month. The RBI decision was aimed at bringing down inflation rate, which, at 11.42% last week, is at a 13-year high level. SBI, the country's biggest bank, increased its lending rate by 50bps to 12.75% last Thursday. Some other PSU banks-Union Bank, State Bank of Bikaner & Jaipur and Corporation Bank-have also followed SBI in increasing rates.
HDFC has however spared its existing customers some inconvenience by raising floating rate by 50 basis points (bps), while new customers would be faced with a hike of 75 bps. In ICICI Bank, the 75bps hike is acrossthe-board. For new home loan customers with HDFC, the floating rate of interest would be at a minimum of 11% per annum, while the fixed rates will be at 14%, a release from the company said. HDFC has also increased its rates on deposits by 50 basis points for most tenures. The rate of interest on consumer loans from ICICI Bank has also been increased by 75bps. The bank has increased its floating reference rate (FRR) for consumer loans by 75 basis points with effect from June 30. The revised FRR will be 13.50% per annum from 12.75% at present, a release from the bank said.
Bank of India increased its benchmark prime lending rate by 0.5 per cent to 13.25 per cent. With this, loans in all segments except auto, home and agriculture portfolios will become dearer to BoI's borrowers, a senior BoI official said. "Interest rates on all PLRrelated loans except home, auto and agriculture segments will go up with the PLR hike with effect from July 1," the official said. Dena Bank announced a 0.5 per cent hike in PLR. The bank also hiked its domestic term deposit rates by 0.25-0.75 per cent for various maturities. Allahabad too decided to increase its benchmark prime lending rate by 0.5 per cent to 13.50 per cent, effective July 2.
Advantage Bank Depositors, India to Deregulate Savings Rate
India is set to usher in another set of banking reforms in a few months with the Reserve Bank of India (RBI), the central bank, proposing to deregulate savings rates.
This comes after a major overhaul of the way banks fix their lending rates. The RBI is going to enforce a new discipline among banks, requiring them to announce their own base rates, which will work like benchmarks for all lending products.
The so-called base rates will replace the existing benchmark prime lending rate. Indian banks have this so-called benchmark in practice but more often than not they lend, especially to big corporates, at rates far below this rate.
The new regulation, which comes into force from July 1 this year, is expected to bring in the much-needed transparency and competition among banks in pricing their products. This is also likely to tie down banks from offering teaser rate loans, a practice that has become rampant in the mortgage loan segment ever since a bubble burst in India's real estate sector and the slowdown in the domestic economy triggered by the global financial turmoil in 2008 and 2009.
Now in the next stage, RBI plans to deregulate savings rate. At present banks can fix rates only on deposits over Rs 2 lakh (approx $5,000).
"Deregulation of interest rates (including savings rates) is an important way forward for reforms. The base rate system that will come into affect from July 1 is also an important reform method," RBI governor D Subbarao said last week.
"There is now a consensus in the government and RBI that all rates should be deregulated, including the savings bank rate. It is certainly on the anvil. It could either be freed completely or there could be a floor price fixed as threshold, beyond which banks cannot go. We need to decide on the mode of migrating to the new system," RBI deputy governor KC Chakrabarty said in an interview.
Currently, Indian banks offer a fixed interest rate of 3.5 per cent on savings deposits. The RBI has mandated that this rate be calculated on a daily basis effective April 1, 2010.
Bankers say deregulating savings rate will help consumer get a better deal. As the banking space gets competitive with the arrival of a large number of private banks and consolidation among public sector players, banks are looking to raise their levels in savings and current accounts, a source of cheaper liquidity.
And when they get to offer savings rates at their own discretion, many are expected to use them to draw new customers. But these rates may also fluctuate wildly depending on the availability of liquidity. Also it remains to be seen if the new base rate and the proposed deregulation of savings rates will tighten margins so much as to hurt profitability and viability of smaller banks.
Indian banking sector has undergone a huge transformation even since the industry was opened up for private participation and foreign players as part of the broad based economic reforms initiated in 1991. The central bank has since restricted licensing of new foreign players, but the government this year proposed to open licensing of new domestic players.
Last year, the central bank freed use of automated teller machines for bank card holders across banking platforms and ordered banks mandatory accommodate segments of the unbaked population.
The government and the central bank are also in the process of implementing a new mechanism of using banking correspondents, which will use prominent citizens and even grocery shops in villages as dealing points to take banking to far-flung areas.
This comes after a major overhaul of the way banks fix their lending rates. The RBI is going to enforce a new discipline among banks, requiring them to announce their own base rates, which will work like benchmarks for all lending products.
The so-called base rates will replace the existing benchmark prime lending rate. Indian banks have this so-called benchmark in practice but more often than not they lend, especially to big corporates, at rates far below this rate.
The new regulation, which comes into force from July 1 this year, is expected to bring in the much-needed transparency and competition among banks in pricing their products. This is also likely to tie down banks from offering teaser rate loans, a practice that has become rampant in the mortgage loan segment ever since a bubble burst in India's real estate sector and the slowdown in the domestic economy triggered by the global financial turmoil in 2008 and 2009.
Now in the next stage, RBI plans to deregulate savings rate. At present banks can fix rates only on deposits over Rs 2 lakh (approx $5,000).
"Deregulation of interest rates (including savings rates) is an important way forward for reforms. The base rate system that will come into affect from July 1 is also an important reform method," RBI governor D Subbarao said last week.
"There is now a consensus in the government and RBI that all rates should be deregulated, including the savings bank rate. It is certainly on the anvil. It could either be freed completely or there could be a floor price fixed as threshold, beyond which banks cannot go. We need to decide on the mode of migrating to the new system," RBI deputy governor KC Chakrabarty said in an interview.
Currently, Indian banks offer a fixed interest rate of 3.5 per cent on savings deposits. The RBI has mandated that this rate be calculated on a daily basis effective April 1, 2010.
Bankers say deregulating savings rate will help consumer get a better deal. As the banking space gets competitive with the arrival of a large number of private banks and consolidation among public sector players, banks are looking to raise their levels in savings and current accounts, a source of cheaper liquidity.
And when they get to offer savings rates at their own discretion, many are expected to use them to draw new customers. But these rates may also fluctuate wildly depending on the availability of liquidity. Also it remains to be seen if the new base rate and the proposed deregulation of savings rates will tighten margins so much as to hurt profitability and viability of smaller banks.
Indian banking sector has undergone a huge transformation even since the industry was opened up for private participation and foreign players as part of the broad based economic reforms initiated in 1991. The central bank has since restricted licensing of new foreign players, but the government this year proposed to open licensing of new domestic players.
Last year, the central bank freed use of automated teller machines for bank card holders across banking platforms and ordered banks mandatory accommodate segments of the unbaked population.
The government and the central bank are also in the process of implementing a new mechanism of using banking correspondents, which will use prominent citizens and even grocery shops in villages as dealing points to take banking to far-flung areas.
Banks to Do Away With Sub-PLR Rates - Home Loan Takers to Benefit
People who prefer to take home loans at floating rate of interest might get benefited if banks change the method of pricing such loans. But now the Reserve Bank of India (RBI) is planning to forbid the banks from lending below prime lending rate (PLR), the benchmark rate for all floating rate bank loans.
A decade ago banks had taken permission from the RBI to lend below the benchmark rate known as sub-PLR. The banks had argued that if they do not lend below PLR they would lose customers to mutual funds (also other lenders ready to invest in their short-term debt offering rates below PLR.)? Although RBI accepted bankers' argument, from long time it is being felt that the practice of lending loans below PLR is not transparent and not much effective change can be seen in policy interest rates across the banking system.
Therefore to review sub- PLR lending practice, RBI constituted a committee headed by executive director Deepak Mohanty. It has been observed that 75% of loans given by banks are at sub-PLR rates. Also there are possibilities that RBI might not completely forbid such loans. According to people closely watching the proposed development, banks might be permitted to quote sub-PLR rates only on short-term, or on loans given for less than one year.
In case RBI prohibits sub-PLR rates on all loans above a year, then home loans will be priced at PLR or above PLR. Thus banks would probably find it difficult to reduce rates only for new customers by varying the spread between their PLRs and lending rates. Spread is the difference between the BPLR (benchmark prime lending rate) and the loan interest rate. This can be " BPLR plus' x' or BPLR minus" x"
Today when banks reduce interest rates on home loans the benefit of the revised rates is given only to the new borrowers For instance, a bank whose PLR is 11.5% its one borrower is paying 12% on a floating rate loan while bank is offering a loan at 9% to a new borrower. This is because the old borrower's loan was fixed at a rate of PLR plus 50 basis points while the new borrower loan has been fixed at PLR minus 250 basis points. Thus the banks are playing with spread, which make old customers feel cheated.
After RBI puts a ban on lending below PLR and it is fixed as the floor rate, with the maximum rate capped at 400 basis points above PLR, then banks will not have much option to vary rates for old and new borrowers. Looking at this the large corporates would prefer to take short-term loans as they would be able to bargain for lower rates. On the other hand small to mid-size corporates might get benefited the most as fixing PLR as the floor rates will bring some transparency in pricing of loans.
A decade ago banks had taken permission from the RBI to lend below the benchmark rate known as sub-PLR. The banks had argued that if they do not lend below PLR they would lose customers to mutual funds (also other lenders ready to invest in their short-term debt offering rates below PLR.)? Although RBI accepted bankers' argument, from long time it is being felt that the practice of lending loans below PLR is not transparent and not much effective change can be seen in policy interest rates across the banking system.
Therefore to review sub- PLR lending practice, RBI constituted a committee headed by executive director Deepak Mohanty. It has been observed that 75% of loans given by banks are at sub-PLR rates. Also there are possibilities that RBI might not completely forbid such loans. According to people closely watching the proposed development, banks might be permitted to quote sub-PLR rates only on short-term, or on loans given for less than one year.
In case RBI prohibits sub-PLR rates on all loans above a year, then home loans will be priced at PLR or above PLR. Thus banks would probably find it difficult to reduce rates only for new customers by varying the spread between their PLRs and lending rates. Spread is the difference between the BPLR (benchmark prime lending rate) and the loan interest rate. This can be " BPLR plus' x' or BPLR minus" x"
Today when banks reduce interest rates on home loans the benefit of the revised rates is given only to the new borrowers For instance, a bank whose PLR is 11.5% its one borrower is paying 12% on a floating rate loan while bank is offering a loan at 9% to a new borrower. This is because the old borrower's loan was fixed at a rate of PLR plus 50 basis points while the new borrower loan has been fixed at PLR minus 250 basis points. Thus the banks are playing with spread, which make old customers feel cheated.
After RBI puts a ban on lending below PLR and it is fixed as the floor rate, with the maximum rate capped at 400 basis points above PLR, then banks will not have much option to vary rates for old and new borrowers. Looking at this the large corporates would prefer to take short-term loans as they would be able to bargain for lower rates. On the other hand small to mid-size corporates might get benefited the most as fixing PLR as the floor rates will bring some transparency in pricing of loans.
Why a Freedom Loan From Benchmark Lending is the Most Popular
When you think of mortgages that enable thousands of people to acquire homes every year, you are thinking of the Benchmark Lending group which has provided much needed finances to get new homes or refinance the existing homes to many families for over ten years. They offer tailor made mortgages to suit the needs of customers ensuring that you can afford it. They make this happen by considering the cash flow of every customer. They also consider the repayment period, investment opportunities and your equity plans. The Benchmark lending group was founded by Barney Aldridge in 1995 as a primary mortgage lending bank and it continues to grow. Customers can expect no hassles and there are no middlemen. The headquarters are located in Northern California and their culture is to provide a good service with dedication and passion.
When you need to apply for a loan, the company assures you that the process is easy and, you do not have to worry about complications. You will have a loan officer guide you through the whole process briefing you on all vital issues on credit until you have a satisfactory end. At Benchmark lending group, the management consists of people who have mastered the industry and proved that they can deliver what it takes to progress the business. It consists of the President who is the Chief Executive officer. His name is Jason Ehrlicher and he began as a loan officer in the company and years have seen him become capable and able to lead owing to his rich experience and dedication to the company since it began.
The others in the management team include the Director of Human Resources, Vice President of Sales and the Sales Manager. The first kind of loan they offer is the Fixed Rate Loan where the rate does not change and one can get a loan to repay in 10, 15, 20 and 30 years. People who go for such a loan must be planning to keep their house for more than 10 years and, for those who do not plan to use their home equity for the period of the loan. The other kind of mortgage the Benchmark Lending group offer is the adjustable rate mortgage. This loan is for people who plan to keep their house for up to 10 years or less. The duration for this kind of mortgage is usually 3, 5, 7 and 10 years.
A freedom loan from Benchmark Lending is the most popular because it is an adjustable loan that enables you to choose from 4 different payment methods according to your convenience every month. The loan is tailor made for people who do not have a regular or stable cash flow and for people who want to make other investments. Another loan suitable for people with fluctuating incomes is the Better Half loan and, it will help people with unstable monthly income realize their dream of owning a home. There are very many other options to choose from and, you can even apply online on their site. There are other resources that you will find very helpful. Before you take any mortgage, it is good to consider your income and your flexibility and ability to repay given the many options of repayments. Get a good system that will help you realize your dream for a good home.
When you need to apply for a loan, the company assures you that the process is easy and, you do not have to worry about complications. You will have a loan officer guide you through the whole process briefing you on all vital issues on credit until you have a satisfactory end. At Benchmark lending group, the management consists of people who have mastered the industry and proved that they can deliver what it takes to progress the business. It consists of the President who is the Chief Executive officer. His name is Jason Ehrlicher and he began as a loan officer in the company and years have seen him become capable and able to lead owing to his rich experience and dedication to the company since it began.
The others in the management team include the Director of Human Resources, Vice President of Sales and the Sales Manager. The first kind of loan they offer is the Fixed Rate Loan where the rate does not change and one can get a loan to repay in 10, 15, 20 and 30 years. People who go for such a loan must be planning to keep their house for more than 10 years and, for those who do not plan to use their home equity for the period of the loan. The other kind of mortgage the Benchmark Lending group offer is the adjustable rate mortgage. This loan is for people who plan to keep their house for up to 10 years or less. The duration for this kind of mortgage is usually 3, 5, 7 and 10 years.
A freedom loan from Benchmark Lending is the most popular because it is an adjustable loan that enables you to choose from 4 different payment methods according to your convenience every month. The loan is tailor made for people who do not have a regular or stable cash flow and for people who want to make other investments. Another loan suitable for people with fluctuating incomes is the Better Half loan and, it will help people with unstable monthly income realize their dream of owning a home. There are very many other options to choose from and, you can even apply online on their site. There are other resources that you will find very helpful. Before you take any mortgage, it is good to consider your income and your flexibility and ability to repay given the many options of repayments. Get a good system that will help you realize your dream for a good home.
Single American Women Want Long Term Relationships
Single American women are nice and honest. Every woman in America looks for a serious man who understands true love. Love is not something you can play around with. You have to love and respect your partner. This is the most important factor in search for an American single woman. She wants to find a man who respects her and treats her in a good way. If you live in the United States, you can meet local singles in your area. Free dating sites online will connect you with your beautiful companion who you can share your life from now on. Free online dating service helps single women and men to find each other for love and relationship.
There are other places for women meeting men in America, such as social services or parks. However, the free online dating sites are the most convenient way. Saving your time and money is the main reason for you to like the online dating method to find a date. Another reason may be the perfect match can be found on the Internet. We speak of the large number of singles that you can choose the best one to date with. So, online dating in America is easier than you look for a date at the night clubs. You may not seek a long term relationship at these clubs easily. You can look for fun on these places. In other words, most of the dates you meet at the clubs don't last too long.
America is a huge country. This popular country has million of singles looking for love and relationships on the Internet. Where to meet single women in America is a good question. They register their personal ads at dating sites. They even post their photos to make their ad to be viewed more. Generally speaking, what a single American woman seeking is the serious man online.
There are other places for women meeting men in America, such as social services or parks. However, the free online dating sites are the most convenient way. Saving your time and money is the main reason for you to like the online dating method to find a date. Another reason may be the perfect match can be found on the Internet. We speak of the large number of singles that you can choose the best one to date with. So, online dating in America is easier than you look for a date at the night clubs. You may not seek a long term relationship at these clubs easily. You can look for fun on these places. In other words, most of the dates you meet at the clubs don't last too long.
America is a huge country. This popular country has million of singles looking for love and relationships on the Internet. Where to meet single women in America is a good question. They register their personal ads at dating sites. They even post their photos to make their ad to be viewed more. Generally speaking, what a single American woman seeking is the serious man online.
If Half of American Singles Have Given Up on Love, Will Robots Be the Sex Partners of the Future?
A staggering 55% of American singles report no desire to change their relationship status, according to research data reported by Psychology Today in 2006. Half of today's singles under 30 are prioritizing their career over finding a relationship.
Singles of all ages are giving up on love and relationships, while embracing their freedom to pursue creative passions and rely on a network of close friends for emotional support. If humans are wired to love and be loved, could this profound need ever be satisfied by a robot? You're about to find out why a professor of gender studies believes robots may be the sex partners of the future. And learn how to avoid that fate.
In his book, Sex with Robots: The Evolution of Human-Robot Relations, author and academic, David Levy contends that hooking up with an robo-femme-fatale or a studly sexbot will become an accepted part of the human landscape.
"Think of it: great sex on tap, 24/7," Levy says in a 2008 COSMOS article.
I learned it's not a sci-fi scenario, because some people already have met their humanoid match. COSMOS revealed that in November 2007, researchers at Waseda University in Japan unveiled a robot, named Twendy-One, that can cook, talk, obey verbal commands, and use its soft silicon-wrapped hands - each equipped with 241 pressure sensors - to interact with humans.
A Japanese Company, Axis, has produced the world's first, rudimentary sexbot for men. Called Honeydolls, the life-size figures are made from surgical-grade silicone and resin, and are equipped with customizable mp3 audio files that can be recorded for a personal touch. Your Honeydoll isn't cheap. Her retail value is $7,000 US.
Professor Levy thinks that women may become more attracted to a sexbot than men, pointing to a worldwide surge in the sale of vibrators. He also thinks people may fall in love with their sexbots. Whoa. We know that a brain chemical, oxytocin, bonds a woman to her lover. Will it also bond a woman to her vibrator or sexbot? I hope not. But it will give academics like Levy another hot topic to research.
Will you embrace a future where humanoids provide carnal satisfaction along with pre-programmed pillow talk? Or do you feel the concept is soulless and well, dehumanizing? How will this affect your dating goals and relationship desires?
And you'll find more leading edge advice on how to create happy relationships in Hadley Finch's articles, podcast show and novel with songs, TRIBE OF BLONDES.
Not a hair color, it's a resilient optimistic spirit that unites us and fuels our passionate choices and personal triumphs.
In that spirit, Hadley Finch helps couples spark up existing relationships, and she introduces savvy singles seeking their great love match through video chats, book discussions (TelePowWows) and travel vacations with our Tribe Of Singles.
Singles of all ages are giving up on love and relationships, while embracing their freedom to pursue creative passions and rely on a network of close friends for emotional support. If humans are wired to love and be loved, could this profound need ever be satisfied by a robot? You're about to find out why a professor of gender studies believes robots may be the sex partners of the future. And learn how to avoid that fate.
In his book, Sex with Robots: The Evolution of Human-Robot Relations, author and academic, David Levy contends that hooking up with an robo-femme-fatale or a studly sexbot will become an accepted part of the human landscape.
"Think of it: great sex on tap, 24/7," Levy says in a 2008 COSMOS article.
I learned it's not a sci-fi scenario, because some people already have met their humanoid match. COSMOS revealed that in November 2007, researchers at Waseda University in Japan unveiled a robot, named Twendy-One, that can cook, talk, obey verbal commands, and use its soft silicon-wrapped hands - each equipped with 241 pressure sensors - to interact with humans.
A Japanese Company, Axis, has produced the world's first, rudimentary sexbot for men. Called Honeydolls, the life-size figures are made from surgical-grade silicone and resin, and are equipped with customizable mp3 audio files that can be recorded for a personal touch. Your Honeydoll isn't cheap. Her retail value is $7,000 US.
Professor Levy thinks that women may become more attracted to a sexbot than men, pointing to a worldwide surge in the sale of vibrators. He also thinks people may fall in love with their sexbots. Whoa. We know that a brain chemical, oxytocin, bonds a woman to her lover. Will it also bond a woman to her vibrator or sexbot? I hope not. But it will give academics like Levy another hot topic to research.
Will you embrace a future where humanoids provide carnal satisfaction along with pre-programmed pillow talk? Or do you feel the concept is soulless and well, dehumanizing? How will this affect your dating goals and relationship desires?
And you'll find more leading edge advice on how to create happy relationships in Hadley Finch's articles, podcast show and novel with songs, TRIBE OF BLONDES.
Not a hair color, it's a resilient optimistic spirit that unites us and fuels our passionate choices and personal triumphs.
In that spirit, Hadley Finch helps couples spark up existing relationships, and she introduces savvy singles seeking their great love match through video chats, book discussions (TelePowWows) and travel vacations with our Tribe Of Singles.
Why Do American Single Men Seek Asian Girls for Love and Marriage?
It is like a trend these days. What is it actually? I am talking about the American male singles looking for Asian girls for love and marriage. The best option to find your Asian soul mate will be the Asian dating websites. Finding a perfect Asian bride will be much simpler on the Asian dating sites than finding them in malls, schools and other public places. The reason behind searching them on Asian dating sites is that you will get your dream girl for sure when the choice is in the thousands. Countless single Asian females are available on these sites for love, friendship, relationship and marriage.
The Asian dating sites offer the Asian females who are complete marriage material. They are highly trustworthy as well as honest. Keep one thing in mind that you can not win their heart in a short time span. It is almost impossible. They will allow you to understand them from the depth only and only when you will be able to attain their extreme faith. It is not a soccer game of just 70 minutes. These females want a true life partner and are not here to find sex partners. They actually do not want sexual comrades but honest and loving husband. The Asian females are family oriented girls who are highly lovable and adorable. The American single males are seeking for Asian females in both Asia and America. They will never reveal much about themselves but will carefully learn and understand the inner self and nature of the people with whom they are in conversation and seeking for a life partner.
If you are an American male and want an Asian wife, you can also search out for your dream mate in New York City. You know why? This is because this popular city of USA is highly populated with beautiful, sexy, hot and elegant Asian females. Even you will see hundreds of couples where the husband is an Americana and the wife is an Asian. This is not at all an unknown fact. The Asian girls are admired by the American singles because they are always ready to sacrifice their life for their husbands. They can do anything to encourage their partner and see him living a contented life. Simply search on the Google search engine and you will get hundreds of results. The results on the initial page are the best for you.
Moreover, the Asian girls are in true manner the sign of pride for the whole of Asia. Their features are really sharp. You will love their glad faces, bright eyes, naughty smiles and spicy talks. Their first impression will store in the depth of your heart and mind. They love to hold their traditions and customs with them. They are like support systems for their husbands. Thus, all these factors must have proved why the American singles seek Asian girls for love and marriage. Family comes first for them in all situations and conditions. They are completely devoted to their husband and children.
The Asian dating sites offer the Asian females who are complete marriage material. They are highly trustworthy as well as honest. Keep one thing in mind that you can not win their heart in a short time span. It is almost impossible. They will allow you to understand them from the depth only and only when you will be able to attain their extreme faith. It is not a soccer game of just 70 minutes. These females want a true life partner and are not here to find sex partners. They actually do not want sexual comrades but honest and loving husband. The Asian females are family oriented girls who are highly lovable and adorable. The American single males are seeking for Asian females in both Asia and America. They will never reveal much about themselves but will carefully learn and understand the inner self and nature of the people with whom they are in conversation and seeking for a life partner.
If you are an American male and want an Asian wife, you can also search out for your dream mate in New York City. You know why? This is because this popular city of USA is highly populated with beautiful, sexy, hot and elegant Asian females. Even you will see hundreds of couples where the husband is an Americana and the wife is an Asian. This is not at all an unknown fact. The Asian girls are admired by the American singles because they are always ready to sacrifice their life for their husbands. They can do anything to encourage their partner and see him living a contented life. Simply search on the Google search engine and you will get hundreds of results. The results on the initial page are the best for you.
Moreover, the Asian girls are in true manner the sign of pride for the whole of Asia. Their features are really sharp. You will love their glad faces, bright eyes, naughty smiles and spicy talks. Their first impression will store in the depth of your heart and mind. They love to hold their traditions and customs with them. They are like support systems for their husbands. Thus, all these factors must have proved why the American singles seek Asian girls for love and marriage. Family comes first for them in all situations and conditions. They are completely devoted to their husband and children.
African American Single Men and Women - Are You Thinking About Online Dating?
Seeking Black Singles Online
Are you one of the many African American women or African American men who is trying to meet other black singles? Are you tired of some of the many games going on out there in black dating? Considering seeking black singles online where you can look and find the type of person you know you will be attracted to as well as other black dating tips to help get you back in the black dating world!
Most dating sites are not geared specifically to black singles and only have a small selection of African American men or Black women members. Now you have niche sites that are dedicated just to black singles. You get to meet other black people like you online and see that black dating really can be easier than you thought. In today's world most people are busy with their job, family or going to school so they do not have as much time to meet other eligible African American men or African American women. There is no reason to not have a love life any more. Now you can meet black people like you who are looking for love as well and you start out from the comfort of your home.
If you are sick of games and want to meet black people like you who are serious about finding love you do have the chance now. There are other eligible Black men and Black women out there who share the same interests and beliefs as you. If you have ever tried seeking black singles online and were not happy with the results now is the time to try again. Try a Niche African American Dating Site and you could significantly double your dating success. On a Niche Online Dating Site you can look through a huge photo base of people like you and see what their interests and beliefs are. No matter if you are looking for something very serious or to just start out as friends. There are other black singles just like you who are succeeding at dating online, don't miss out.
Are you one of the many African American women or African American men who is trying to meet other black singles? Are you tired of some of the many games going on out there in black dating? Considering seeking black singles online where you can look and find the type of person you know you will be attracted to as well as other black dating tips to help get you back in the black dating world!
Most dating sites are not geared specifically to black singles and only have a small selection of African American men or Black women members. Now you have niche sites that are dedicated just to black singles. You get to meet other black people like you online and see that black dating really can be easier than you thought. In today's world most people are busy with their job, family or going to school so they do not have as much time to meet other eligible African American men or African American women. There is no reason to not have a love life any more. Now you can meet black people like you who are looking for love as well and you start out from the comfort of your home.
If you are sick of games and want to meet black people like you who are serious about finding love you do have the chance now. There are other eligible Black men and Black women out there who share the same interests and beliefs as you. If you have ever tried seeking black singles online and were not happy with the results now is the time to try again. Try a Niche African American Dating Site and you could significantly double your dating success. On a Niche Online Dating Site you can look through a huge photo base of people like you and see what their interests and beliefs are. No matter if you are looking for something very serious or to just start out as friends. There are other black singles just like you who are succeeding at dating online, don't miss out.
How American Dating Sites Connect American Singles Online
In this highly practical and fast world, we tend to have our acceleration bar pressed from our very childhood. Amidst the extremely tough schedule that we usually have, we often fail to save enough time for ourselves or for our personal life. The end result is that we end up being loners and fail to find a happy family for ourselves. In America, normal life is too fast to allow people to take ample time out for themselves to find the perfect mate. However it is extremely important for any individual to find the correct partner in order to have a happy personal life which again acts as the energy for a happy general life.
There are numerous American singles who are in search of their soul mate, and others who are repenting the fact that they made a wrong choice as far as their earlier selection is concerned. However in this modern age, it is not possible to run around searching for the right person. This is where, American dating sites come handy.
The American dating sites have a strong database of American singles who come, join and register themselves. The websites have people from all over America and of all types. The registered singles are free to choose their soul mates based on criterias laid down strictly by them.
Normally the American dating sites are free but some provide paid service as well. The paid service gives a more detailed information and bigger option to choose.
The American singles need to register themselves with the sites along with their photographs and various details. Once registered, they are allowed to search the database and to interact with the person of their choice. The best part about the entire idea is that all the people in the websites are willing to be in a relation, be it in friendship or live-in or marriage. Therefore, the effort would lie from both ends which provide a much bigger driving force in having the relationship working.
Some American dating sites have various interactive rooms where they allow the members to chat and know each other. There are others who provide the details of both sides to each other and then it is up to the concerned pair to interact with them. There are many such sites available and being well used by the American singles.
These sites are doing a great job on the social side of affair beside the business prospect which is their primary goal. Their main revenue comes from advertisements. They not only have a high earning business but also can have much satisfaction attached to it. This is solely because it is quite noble a job that to help people in finding the correct person for them and strictly that to, according to their choice.
Therefore, the American dating sites help a lot in connecting American singles online which saves a lot of time and energy but provides one of the dearest results. These sites are thus very much appreciated all over America.
There are numerous American singles who are in search of their soul mate, and others who are repenting the fact that they made a wrong choice as far as their earlier selection is concerned. However in this modern age, it is not possible to run around searching for the right person. This is where, American dating sites come handy.
The American dating sites have a strong database of American singles who come, join and register themselves. The websites have people from all over America and of all types. The registered singles are free to choose their soul mates based on criterias laid down strictly by them.
Normally the American dating sites are free but some provide paid service as well. The paid service gives a more detailed information and bigger option to choose.
The American singles need to register themselves with the sites along with their photographs and various details. Once registered, they are allowed to search the database and to interact with the person of their choice. The best part about the entire idea is that all the people in the websites are willing to be in a relation, be it in friendship or live-in or marriage. Therefore, the effort would lie from both ends which provide a much bigger driving force in having the relationship working.
Some American dating sites have various interactive rooms where they allow the members to chat and know each other. There are others who provide the details of both sides to each other and then it is up to the concerned pair to interact with them. There are many such sites available and being well used by the American singles.
These sites are doing a great job on the social side of affair beside the business prospect which is their primary goal. Their main revenue comes from advertisements. They not only have a high earning business but also can have much satisfaction attached to it. This is solely because it is quite noble a job that to help people in finding the correct person for them and strictly that to, according to their choice.
Therefore, the American dating sites help a lot in connecting American singles online which saves a lot of time and energy but provides one of the dearest results. These sites are thus very much appreciated all over America.
Another American Singles Review? Learn the Truth!
In this American Singles review, we will be highlighting the great and not so great qualities of American Singles to help you decide if it is the right site for you. Overall, it is a well rounded dating site which definitely keeps up with other top level online dating services. The first thing we would like to bring to your attention though, is that it is not solely for Americans, as the name might mislead you into thinking. On this site you will find people from countries all over the world.
A lot of the features of American Singles lead us towards giving it a positive review. The options they offer for allowing you to flirt with people you are interested in goes far beyond many other online dating sites. For instance, you can send "teasers" to people you are interested in, which are cute one-liners designed to express interest. Also, you can view who has viewed your profile, who you've viewed in the past, and who's "hot listed" (favorited) you. This makes it very easy for people to get in touch with the people who are obviously interested in them.
One negative aspect which should be mentioned in this American Singles review is the amount of spam you are likely to receive in your inbox. As with most dating sites, scammers and spammers are all over the place. Just remember that generalized messages in your inbox which are trying to get you to reply with any amount of personal information are a scam and to be ignored. These are phishing emails and should be reported as spam when you get them.
The pricing structure of American Singles is pretty standard. They let you sign up for free and actually offer you a good amount of features upon doing so. You can browse other peoples limited profiles and even send messages with a free account. Other upgrades are available and range from $29.99 for one month to $79.99 for six months. The different options offered by the other types of accounts are shown below.
Overall, American Singles gets a positive review from the editors here at Best Free Dating Sites. We like the setup, the customer service, and the user base seemed varied, providing an overall positive experience.
A lot of the features of American Singles lead us towards giving it a positive review. The options they offer for allowing you to flirt with people you are interested in goes far beyond many other online dating sites. For instance, you can send "teasers" to people you are interested in, which are cute one-liners designed to express interest. Also, you can view who has viewed your profile, who you've viewed in the past, and who's "hot listed" (favorited) you. This makes it very easy for people to get in touch with the people who are obviously interested in them.
One negative aspect which should be mentioned in this American Singles review is the amount of spam you are likely to receive in your inbox. As with most dating sites, scammers and spammers are all over the place. Just remember that generalized messages in your inbox which are trying to get you to reply with any amount of personal information are a scam and to be ignored. These are phishing emails and should be reported as spam when you get them.
The pricing structure of American Singles is pretty standard. They let you sign up for free and actually offer you a good amount of features upon doing so. You can browse other peoples limited profiles and even send messages with a free account. Other upgrades are available and range from $29.99 for one month to $79.99 for six months. The different options offered by the other types of accounts are shown below.
Overall, American Singles gets a positive review from the editors here at Best Free Dating Sites. We like the setup, the customer service, and the user base seemed varied, providing an overall positive experience.
Single American Men
International online dating and personals have become one of the biggest paid services on the Internet. It is estimated that one in every five singles around the world now seek a partner online. One can find a partner depending on the choice of race, nationality, age, and social status. A fair share of these searches is posted by women looking for eligible bachelors. Many of these women prefer single American men because of their reputation of being good husbands. Additionally, women choose single American men due to their perceived greater financial security. It is found that women from other countries search for single American men more than their local men.
Most of the women seeking single American men belong to economically backward countries. Men in these countries usually expect their wives to don the traditional role of a housewife. Career-oriented women generally do not prefer such husbands. They prefer the American men who have a reputation of allowing their wives to pursue careers or businesses. Moreover, these men?s reputation of being good husbands and the relatively easy life in the United States prove to be a powerful motivating force. Women preferring single American men do not mind leaving their homeland, as they believe the quality of life in the United States compensates for the loss of their old homes.
A general perception held among many women of the world is that they will be treated well in the United States. Women of the third-world countries therefore seek single American men, even if these men are 20 to 30 years older than they are. Marrying an American man is seen as way for gaining a better social status and financial security. An American man may not necessarily be a rich person, but even a middle-class American is seen as more financially stable than most men from a third-world country. Online dating and personal websites therefore see heavy traffic due to women looking for single American men.
Most of the women seeking single American men belong to economically backward countries. Men in these countries usually expect their wives to don the traditional role of a housewife. Career-oriented women generally do not prefer such husbands. They prefer the American men who have a reputation of allowing their wives to pursue careers or businesses. Moreover, these men?s reputation of being good husbands and the relatively easy life in the United States prove to be a powerful motivating force. Women preferring single American men do not mind leaving their homeland, as they believe the quality of life in the United States compensates for the loss of their old homes.
A general perception held among many women of the world is that they will be treated well in the United States. Women of the third-world countries therefore seek single American men, even if these men are 20 to 30 years older than they are. Marrying an American man is seen as way for gaining a better social status and financial security. An American man may not necessarily be a rich person, but even a middle-class American is seen as more financially stable than most men from a third-world country. Online dating and personal websites therefore see heavy traffic due to women looking for single American men.
Online Dating Services for American Singles to Meet
The online dating services for American singles have been a nice platform. These services are well executed and always keep up with the modern technology. Still they are offering you complete freedom to experience mind blowing dating. There are several websites which are meant just for American singles. It is your choice finally. You can go for online dating sites that are exclusive for American singles or the sites which are meant for singles from several nations. Now, American singles can communicate easily with other American singles from around the United States of America. Americans have actually started these services.
The dating sites for US citizens give them complete independence in their selection. If you are an American then you have been given the ability to see all the people whom you have viewed in the past time and who has viewed you. Moreover, you can see the list of the people whom you have hot listed and people who have hot listed you. Another benefit is that you can also view people who have teased you and whom you have teased. There are several different categories like this. So what have you decided? Make up your mind and have fun!
Another good thing about these dating sites for American singles is that these sites provide numerous ways to communicate and express one's interests for other singles online. For an instance, if you are interested in some female on the site then you can hot list her, you can send her some good teasing and cute lines, and can also send her a beautiful e-Card. If you really want to communicate with her then you can send her an instant message or can also connect with her through chat rooms. There are some very nice personal favorites online. You can view profiles and add them as per the preference. There are several other singles that may have viewed you and want to be friends with you for some or the other reason.
You will be notified through e-mails if someone has viewed your profile and actually want to communicate with you in some or the other context. Just like other online dating sites you may get several scam spasm in your inbox at some or the other point of time.
Always remember one thing that if someone has sent you an email as a generic message and has placed his or her own e-mail ID in the mail for return message then you must understand that it is like a scam span. You must ignore it. There are so many scams that are created to make money. They will eat you up to the depth. Such people are interested in making fake relationships. Suddenly they tend to ask for emergency financial help. What will you do?
The chat room is really a good concept to use to express your feelings but normally people do not use this concept. There are several generic categories on the online dating sites for American singles.
The dating sites for US citizens give them complete independence in their selection. If you are an American then you have been given the ability to see all the people whom you have viewed in the past time and who has viewed you. Moreover, you can see the list of the people whom you have hot listed and people who have hot listed you. Another benefit is that you can also view people who have teased you and whom you have teased. There are several different categories like this. So what have you decided? Make up your mind and have fun!
Another good thing about these dating sites for American singles is that these sites provide numerous ways to communicate and express one's interests for other singles online. For an instance, if you are interested in some female on the site then you can hot list her, you can send her some good teasing and cute lines, and can also send her a beautiful e-Card. If you really want to communicate with her then you can send her an instant message or can also connect with her through chat rooms. There are some very nice personal favorites online. You can view profiles and add them as per the preference. There are several other singles that may have viewed you and want to be friends with you for some or the other reason.
You will be notified through e-mails if someone has viewed your profile and actually want to communicate with you in some or the other context. Just like other online dating sites you may get several scam spasm in your inbox at some or the other point of time.
Always remember one thing that if someone has sent you an email as a generic message and has placed his or her own e-mail ID in the mail for return message then you must understand that it is like a scam span. You must ignore it. There are so many scams that are created to make money. They will eat you up to the depth. Such people are interested in making fake relationships. Suddenly they tend to ask for emergency financial help. What will you do?
The chat room is really a good concept to use to express your feelings but normally people do not use this concept. There are several generic categories on the online dating sites for American singles.
Do American Singles Find Online Love for Just Dating Or Marriage?
Finding love online at online dating sites is quite vernacular in America. The reason being it is easy and comfortable. There is no need to go to the bars or clubs to find your mate or partner. No matter you are a bachelor, single, divorced or a gay, there are several sites available for every American. More and more Americans are using the online method to find their date and romance. Another reason is that divorce rate is incrementing day by day. Thus, more and more Americans are attaining the single status. They have easy approach to singles from around the world.
It is difficult to say whether American singles find online love for dating or marriage. This is because many American singles come online for making friends, finding long term relationship, partner, dating and marriage. Every single American has different idea while using these online services. These sites assure that you will get compatible partner for your self. You just have to browse through the contacts and profiles of other American singles available on the dating site. What is as convenient as the online dating services? Another benefit is that you do not have to waste your precious time and hard earned money.
First thing to do is to search out for best American dating site as per your requirements and wishes. Next step is to make your new and fresh profile on the site in just few clicks. What you have to do is fill the submission form where in you have to fill up your personal details and the partner preferences. The profile must be spellbinding and attractive. Do not forget to upload your latest picture because image will be able to attract more people and singles. You can do one more thing like advertise your profile. It will definitely be fruitful for you.
Thus, you will have the right to share and communicate your thoughts, likes and dislikes with other American singles available online. It is advised that you must check out the FAQ section of the dating site before signing up. It will be better to perform this step because there are various dating sites which do not charge anything on registration but start charging as soon as you involve in chatting, interacting, communicating and sending messages. Thousands of couples are living a happy and prosperous married life after meeting on the free American online dating sites.
They have been able to find their true love and true soul mate. It will true to say that most of the American singles find online love not only dating but for marriage and long term relationships too. It is not like people attend these dating sites for flirting. You will be able to receive good friendship, live in relationships and get married. You are not paying anything from your pocket so there is no difficulty at all. In the year 2004, over $469.5 million were spent on online dating services in America. So what are you waiting for? Take its advantage to the fullest and find your love.
It is difficult to say whether American singles find online love for dating or marriage. This is because many American singles come online for making friends, finding long term relationship, partner, dating and marriage. Every single American has different idea while using these online services. These sites assure that you will get compatible partner for your self. You just have to browse through the contacts and profiles of other American singles available on the dating site. What is as convenient as the online dating services? Another benefit is that you do not have to waste your precious time and hard earned money.
First thing to do is to search out for best American dating site as per your requirements and wishes. Next step is to make your new and fresh profile on the site in just few clicks. What you have to do is fill the submission form where in you have to fill up your personal details and the partner preferences. The profile must be spellbinding and attractive. Do not forget to upload your latest picture because image will be able to attract more people and singles. You can do one more thing like advertise your profile. It will definitely be fruitful for you.
Thus, you will have the right to share and communicate your thoughts, likes and dislikes with other American singles available online. It is advised that you must check out the FAQ section of the dating site before signing up. It will be better to perform this step because there are various dating sites which do not charge anything on registration but start charging as soon as you involve in chatting, interacting, communicating and sending messages. Thousands of couples are living a happy and prosperous married life after meeting on the free American online dating sites.
They have been able to find their true love and true soul mate. It will true to say that most of the American singles find online love not only dating but for marriage and long term relationships too. It is not like people attend these dating sites for flirting. You will be able to receive good friendship, live in relationships and get married. You are not paying anything from your pocket so there is no difficulty at all. In the year 2004, over $469.5 million were spent on online dating services in America. So what are you waiting for? Take its advantage to the fullest and find your love.
African American Singles - How to Meet Black People Online and Double Your Dating Success
It can be difficult to meet black singles, especially since it can be difficult to meet black people. When you are looking for African American men or African American women to date, it is time to turn to the internet for help. You can meet black people online that want to meet you. Black dating online is not what it used to be. African American Singles use black dating sites to meet black men and women that are dating material. If you are going to look for black singles online, follow these dating tips:
When you are looking to meet black people to date, make sure that you are being yourself in your online profile. It does not matter if you are looking to find black singles. Always meet black singles in a public place for your first meeting. It does not matter if you are meeting African American men or African American women, you need to be careful. Most black singles are wonderful people that are looking for true love just like you are, but be sure to put safety first. Make sure that other people know that you are going on a date and have an idea of what your itinerary will be so they know if they should be worried. This is by far the most important of the dating tips.
Also be honest about what you look like - there is nothing wrong with losing your hair or being a little overweight, but do not say that you have black hair when it is gray, or that you have a slender build if you shop in plus sizes. Honesty, in the black dating world, is definitely the best policy.
Have fun on your first date. Dating can be stressful, but enjoy meeting African American singles. This is by far one of the most important black dating tips. No one wants to date someone who does not like to have fun, so go out and have a blast. Be kind, cordial, and polite, but let loose and enjoy your evening away from your usual routine learn more about your date.
If you follow these black dating tips you are sure to have a great time on a very safe date. So go out there, have fun, and double your dating success online.
When you are looking to meet black people to date, make sure that you are being yourself in your online profile. It does not matter if you are looking to find black singles. Always meet black singles in a public place for your first meeting. It does not matter if you are meeting African American men or African American women, you need to be careful. Most black singles are wonderful people that are looking for true love just like you are, but be sure to put safety first. Make sure that other people know that you are going on a date and have an idea of what your itinerary will be so they know if they should be worried. This is by far the most important of the dating tips.
Also be honest about what you look like - there is nothing wrong with losing your hair or being a little overweight, but do not say that you have black hair when it is gray, or that you have a slender build if you shop in plus sizes. Honesty, in the black dating world, is definitely the best policy.
Have fun on your first date. Dating can be stressful, but enjoy meeting African American singles. This is by far one of the most important black dating tips. No one wants to date someone who does not like to have fun, so go out and have a blast. Be kind, cordial, and polite, but let loose and enjoy your evening away from your usual routine learn more about your date.
If you follow these black dating tips you are sure to have a great time on a very safe date. So go out there, have fun, and double your dating success online.
San Diego DUI Lawyers Report Breathalyzers Don't Measure Alcohol
Arrested for drunk driving? A San Diego firm of DUI defense attorneys reports that breathalyzers used by law enforcement do not actually measure alcohol -- and thus may produce falsely high "blood alcohol" readings.
According to the the Law Offices of Lawrence Taylor, Inc., in San Diego, California, most breathalyzers used in DUI cases by law enforcement today use "infrared spectroscopy". This technology involves detection of the "methyl group" in the molecular structure of alcohol. The problem is that there are thousands of chemical compounds containing the methyl group -- some of them found on the human breath. In one study involving 28 subjects, for example, researchers found that the "combined expired air comprises at least 102 various organic compounds of endogenous and exogenous origin" ("Characterization of Human Expired Air", 15 Journal of Chromatographic Sciences 240).
If a person has any of these other compounds on his breath, called "interferents" by the engineers, he will get a falsely high blood-alcohol test result. And if there are two or more such compounds on his breath, the machine will add them up and falsely report the total as the blood- alcohol level.
So what compounds can be found on your breath? According to the San Diego DUI attorneys, diabetics with low blood sugar can have high levels of acetone -- which is "seen" as alcohol by Breathalyzers. And scientific studies have found that people on diets can have reduced blood-sugar levels, causing acetone hundreds of times higher than found in normal individuals (Frank and Flores, "The Likelihood of Acetone Interference in Breath Alcohol Measurements", 3 Alcohol, Drugs and Driving 1). And there are many other so-called "interferents" affecting breathalyzer results
If you are a smoker, your breathalyzer result is likely to be higher than expected. The compound acetaldehyde -- containing the methyl group and so reported by the Breathalyzer as "alcohol" -- is produced in the human body as a by-product in metabolizing consumed alcohol, and eventually passes into the lungs and breath. Researchers have discovered that levels of acetaldehyde in the lungs can be 30 times higher in smokers than in non-smokers. Result: higher BAC readings on the machine.
The San Diego DUI lawyers report that common household products, such as paint, glue, gasoline, and thinners also contain the methyl group. No, you don't have to drink the stuff: simply absorbing it through your skin or inhaling the fumes can result in significant levels of the chemical in your body for hours or even days, depending upon the "half- life" of the compound. So if you've painted a room or breathed in fumes at a gas station in the last day or two, don't take a breathalyzer test.
If you are stopped by the police and suspected of drunk driving, say the San Diego DUI lawyers, you might consider a blood test rather than submitting to a breathalyzer.
According to the the Law Offices of Lawrence Taylor, Inc., in San Diego, California, most breathalyzers used in DUI cases by law enforcement today use "infrared spectroscopy". This technology involves detection of the "methyl group" in the molecular structure of alcohol. The problem is that there are thousands of chemical compounds containing the methyl group -- some of them found on the human breath. In one study involving 28 subjects, for example, researchers found that the "combined expired air comprises at least 102 various organic compounds of endogenous and exogenous origin" ("Characterization of Human Expired Air", 15 Journal of Chromatographic Sciences 240).
If a person has any of these other compounds on his breath, called "interferents" by the engineers, he will get a falsely high blood-alcohol test result. And if there are two or more such compounds on his breath, the machine will add them up and falsely report the total as the blood- alcohol level.
So what compounds can be found on your breath? According to the San Diego DUI attorneys, diabetics with low blood sugar can have high levels of acetone -- which is "seen" as alcohol by Breathalyzers. And scientific studies have found that people on diets can have reduced blood-sugar levels, causing acetone hundreds of times higher than found in normal individuals (Frank and Flores, "The Likelihood of Acetone Interference in Breath Alcohol Measurements", 3 Alcohol, Drugs and Driving 1). And there are many other so-called "interferents" affecting breathalyzer results
If you are a smoker, your breathalyzer result is likely to be higher than expected. The compound acetaldehyde -- containing the methyl group and so reported by the Breathalyzer as "alcohol" -- is produced in the human body as a by-product in metabolizing consumed alcohol, and eventually passes into the lungs and breath. Researchers have discovered that levels of acetaldehyde in the lungs can be 30 times higher in smokers than in non-smokers. Result: higher BAC readings on the machine.
The San Diego DUI lawyers report that common household products, such as paint, glue, gasoline, and thinners also contain the methyl group. No, you don't have to drink the stuff: simply absorbing it through your skin or inhaling the fumes can result in significant levels of the chemical in your body for hours or even days, depending upon the "half- life" of the compound. So if you've painted a room or breathed in fumes at a gas station in the last day or two, don't take a breathalyzer test.
If you are stopped by the police and suspected of drunk driving, say the San Diego DUI lawyers, you might consider a blood test rather than submitting to a breathalyzer.
San Diego DUI Defense Lawyer - Defenses to Get You Out of Jail
Driving Under the Influence is a serious charge. Even if it is a misdemeanor charge against you, meaning that no one was hurt when the police made the arrest, the possibility of jail time, fines and a permanent record on you is something worth considering about. California has one of the strictest laws against DUI because of the vast highways it probably has and among the cities and counties, San Diego has one of the most stringent policies. Part of the reason for this is because San Diego shares the border between the United States and Mexico and because of this, the perennial onslaught of college folk and vacationers sojourning through this city to Mexico may give rise to cases of DUI especially on the way back from Tijuana to the United States. Every year there are around 16000 DUI cases being handled in San Diego alone. However, their laws have had a good effect. During this year's summer season, though there have been 2000 arrests of DUI, there have been no DUI related fatalities on record. Could it be that the recent financial crisis has led to a decrease in out of town vacations? Maybe so, but still there are more people alive today because of that particular statistics.
There are also cases when some DUI arrests may have been done by overzealous cops. This is not a perfect world and these things happen. If by chance you happen to be one of those who were unfortunate enough to be cited for such, the best bet for you is to get a local San Diego DUI defense lawyer to represent you. Granted that getting a local DUI lawyer may be costly but it's worth the amount considering the alternative. What are the defenses these lawyers will use to counter the arrest?
- They will look at the video to see if you were cooperative and did not look inebriated.
- They will probably look at the time line between you being observed for DUI which has to be 15 minutes without any breaks or stops. This will start at the time the police will mention that you are being observed for DUI.
- They will listen to the conversation to see if the police had correctly told you that the field sobriety test is a voluntary one and that you could refuse it.
- They will look at your medical records to find out if you have any condition that could have caused you to have such high blood alcohol levels.
In such cases a local San Diego DUI defense lawyer is your best bet to get out of such a situation.
There are also cases when some DUI arrests may have been done by overzealous cops. This is not a perfect world and these things happen. If by chance you happen to be one of those who were unfortunate enough to be cited for such, the best bet for you is to get a local San Diego DUI defense lawyer to represent you. Granted that getting a local DUI lawyer may be costly but it's worth the amount considering the alternative. What are the defenses these lawyers will use to counter the arrest?
- They will look at the video to see if you were cooperative and did not look inebriated.
- They will probably look at the time line between you being observed for DUI which has to be 15 minutes without any breaks or stops. This will start at the time the police will mention that you are being observed for DUI.
- They will listen to the conversation to see if the police had correctly told you that the field sobriety test is a voluntary one and that you could refuse it.
- They will look at your medical records to find out if you have any condition that could have caused you to have such high blood alcohol levels.
In such cases a local San Diego DUI defense lawyer is your best bet to get out of such a situation.
San Diego DUI Lawyer
A San Diego DUI lawyer and defense team are used to describe the team of attorney's, paralegal's, and other professionals that come together to defend you from a DUI or drunk driving related offense here in San Diego.
San Diego has one of the highest rates of DUI arrests in the nation for the population size. The city has dramatically stepped up DUI patrols and checkpoints in the areas known for a 'party' type atmosphere. Some speculate that the increased vigilance on DUI enforcement has been due in part to San Diego's fiscal difficulties. It is known that the city is in a bit of a financial bind and looking for ways to bring in more revenue.
Anyway you look at it, if you're arrested for a drunk driving charge you'll want to ensure that your San Diego DUI lawyer and defense team has experience fighting and winning cases here in this city. San Diego has a lot of different DUI firms who do a lot of advertising so choosing the right defense team can be a difficult task. We'll discuss how to decide which DUI lawyer to represent you.
First, you'll want to ensure that the DUI defense team you select will actually end up being the same team working on your behalf... beware of the 'bait and switch' tactic where you think you're getting the lawyers with the great reputations- but then you end up with a brand new bar admitted lawyer with no real experience handling your case after you agree to allow the firm to represent you. To avoid this simply ask them during the initial consultation who will be physically be handling this case. Make sure you speak with whoever that is.
Next, you'll want to make sure that the DUI lawyers you select have experience working with the San Diego District Attorney's office and more importantly they have a great working relationship with the San Diego District Attorney's office.
Last thing to make sure is that the firm only handles DUI cases here in San Diego and no where else. Make sure that that they spend their time here in SD; so that you know they have good relationships and experience
San Diego has one of the highest rates of DUI arrests in the nation for the population size. The city has dramatically stepped up DUI patrols and checkpoints in the areas known for a 'party' type atmosphere. Some speculate that the increased vigilance on DUI enforcement has been due in part to San Diego's fiscal difficulties. It is known that the city is in a bit of a financial bind and looking for ways to bring in more revenue.
Anyway you look at it, if you're arrested for a drunk driving charge you'll want to ensure that your San Diego DUI lawyer and defense team has experience fighting and winning cases here in this city. San Diego has a lot of different DUI firms who do a lot of advertising so choosing the right defense team can be a difficult task. We'll discuss how to decide which DUI lawyer to represent you.
First, you'll want to ensure that the DUI defense team you select will actually end up being the same team working on your behalf... beware of the 'bait and switch' tactic where you think you're getting the lawyers with the great reputations- but then you end up with a brand new bar admitted lawyer with no real experience handling your case after you agree to allow the firm to represent you. To avoid this simply ask them during the initial consultation who will be physically be handling this case. Make sure you speak with whoever that is.
Next, you'll want to make sure that the DUI lawyers you select have experience working with the San Diego District Attorney's office and more importantly they have a great working relationship with the San Diego District Attorney's office.
Last thing to make sure is that the firm only handles DUI cases here in San Diego and no where else. Make sure that that they spend their time here in SD; so that you know they have good relationships and experience
DUI Attorney - What You Should Expect After Being Caught For DUI?
No matter whether you have been caught driving drunk or you are being charged with the offense, you should not disregard it as something insignificant. Depending on the laws at the time of your citation and the adjustments that can happen, you could wind up facing serious consequences. Stronger consequences and laws are now being enforced by the states every year and you probably will end up paying a sizable fine or even be taken into custody. Furthermore, your license may be suspended and you could end up with a criminal conviction if anyone was injured during your incident. All of these can seriously affect your opportunities for employment in addition to your future plans. Having a experienced DUI attorney makes all the difference to ensuring your case proceed smooth helping you come out in the best possible situation.
If you have been pulled over for DUI and are looking for a good DUI attorney, you can always check online to review a number of attorneys backgrounds, qualifications, experiences, previous case histories and more. A San Diego DUI attorney advised to choose one according to their experience and recent cases as this will ensure they are up-to-date with the latest DUI laws. If they are members of the NCDD then it is all the better.
A Lawyer dedicated to focusing primarily on DUI cases in your county will definitely be much more qualified to handle this type of incident over an inexperienced attorney who has not successfully managed such cases previously. Experienced DUI lawyers may be able to have your charges reduced, protect your license and sometimes can have them dismissed completely. This is not to say they advocate the practice of driving under the influence, rather you will often be required to attend alcohol counseling.
A DUI attorney will be suited to handle the case and also will assist you if you are facing a substance abuse problem. A local San Diego DUI lawyer confirmed that your honesty with your lawyer will remain sacrosanct as it is a point of client confidentiality. If your case is criminal or homicidal recklessness then your attorney will be able to advise you on the repercussions of those charges on your life in terms of employment, future goals and more. If you are guilty of a serious drinking problem you will often be required to attend a mandatory alcoholic program or enroll into rehab. If there is personal injury involved, the attorney can be entitled to charge a bulky fee which is due to the more complicated proceedings involved.
You should always discuss the rates and payment details ahead of time with your attorney. If you need to give a substantial deposit, you need to discuss why and be able to pay. If you are certain of having found an experienced attorney it will likely be worth it as an effective lawyer may very well be able to get you off the hook. However, it will ultimately be your decision to make the effort to change your habits and stay off the wrong side of the law.
If you have been pulled over for DUI and are looking for a good DUI attorney, you can always check online to review a number of attorneys backgrounds, qualifications, experiences, previous case histories and more. A San Diego DUI attorney advised to choose one according to their experience and recent cases as this will ensure they are up-to-date with the latest DUI laws. If they are members of the NCDD then it is all the better.
A Lawyer dedicated to focusing primarily on DUI cases in your county will definitely be much more qualified to handle this type of incident over an inexperienced attorney who has not successfully managed such cases previously. Experienced DUI lawyers may be able to have your charges reduced, protect your license and sometimes can have them dismissed completely. This is not to say they advocate the practice of driving under the influence, rather you will often be required to attend alcohol counseling.
A DUI attorney will be suited to handle the case and also will assist you if you are facing a substance abuse problem. A local San Diego DUI lawyer confirmed that your honesty with your lawyer will remain sacrosanct as it is a point of client confidentiality. If your case is criminal or homicidal recklessness then your attorney will be able to advise you on the repercussions of those charges on your life in terms of employment, future goals and more. If you are guilty of a serious drinking problem you will often be required to attend a mandatory alcoholic program or enroll into rehab. If there is personal injury involved, the attorney can be entitled to charge a bulky fee which is due to the more complicated proceedings involved.
You should always discuss the rates and payment details ahead of time with your attorney. If you need to give a substantial deposit, you need to discuss why and be able to pay. If you are certain of having found an experienced attorney it will likely be worth it as an effective lawyer may very well be able to get you off the hook. However, it will ultimately be your decision to make the effort to change your habits and stay off the wrong side of the law.
DUIs in San Diego on the Rise
San Diego may be a hot tourist attraction, and a popular spring break location for students, but it all is also becoming one of the highest rate of DUIs per capita in the United States. There is a lot that goes into that factor, due the fact that police know what to look for the fact of the amount of volume that police officers are dealing with as far as DUI cases are concerned. Jamaal Williams, a San Diego professional football player, is a one of the most recent high-profile San Diego locals that have been charged with a DUI. Stephen Brodsky, a DUI specialist in San Diego, has witnessed a use which jumped a DUI cases in San Diego. There are some definite deuce and don't when visiting San Diego if you're from out of town, or even if you are a citizen of the finest city in the United States, you should pay attention to do's and don'ts of DUIs in San Diego.
Designated Drivers; Good Standard Operating Procedure
Designated drivers are still commonplace, and it should be a good practice if you're going out in the San Diego, some of the spots that have a high concentration of police officers looking for suspicious driving behavior is in Pacific Beach, the gas lamp district, Encinitas, Del mar, and downtown Oceanside. When driving in peace specific areas in San Diego one should be very careful of, not only being cognizant of what you've had to drink before you get behind the wheel, you should be very careful about driving erratically or with excessive speeds in general.
Part of the reason of the high concentration of DUIs in San Diego is due the fact that there is a large amount of college-age kids, military personnel and overall just a younger crowd out on the road. The mix of college kids, Marines sailors and other younger individuals behind the wheel who don't have a lot of experience treating alcoholic beverages, or don't really have a lot of years under their belt behind the wheel, have a high propensity to get DUIs. In Oceanside which houses one of the biggest Marine bases in the United States, this particular town has a huge volume of DUI cases. So as a good standard operating procedure, if you're out partying with your friends get a designated driver behind the wheel, don't roll the dice DUIs can get very expensive and if you do get one or are faced with a charge it is very important that within 10 days of the DUI charge that you contact a DUI attorney as soon as possible.
What to Do When Pulled Over
So you've been pulled over, you're sitting there in your car, a little nervous. The policeman comes up to your car and you're wondering what to do, what to say and how to act. Here are a few pointers that you may want to incorporate, not only when you feel that you may of had a few too many drinks before you got behind the wheel, but this is a good general practice for when you're pulled over general:
Be Polite: police men even though they may look like robots and all look the same in their uniforms and aviator glasses, are human and can sense when an individual is being facetious or defensive. The best policy to practice when getting pulled over is to be polite as possible. Practicing neutrality is important to me nervous, not being too nonchalant but just being polite.
Don't Get Out Of the Car: police officers deal with a lot of suspicious characters, and if you get pulled over make sure that you just put two hands on the wheel and follow instructions. In no means should you ever get out of the car if you're not instruct, the police officer has no idea what you have under your belt or the cell phone that's your hand is a gun.
Don't Make Excuses: try not to make excuses right out of the gate, just answer questions when asked to question. Answers should be somewhat neutral and not incriminating; practice politeness at the same time don't be too passive viewer of your surroundings and be quick to answer with absolute actuality.
If Asked to Take a Breathalyzer, You May Not Have Choice: most states, when they issue a driver's license that gives the police arrived to give you a chemical test, blood test or breathalyzer test by refusing to take a test with the police officer could, in some states, suspend your license on the spot and can pound your vehicle. Breathalyzers are not perfect, and the results and in certain situations can be fought in court.
If Charged Call an Expert
Stephen Brodsky, a San Diego DUI lawyer, advises that the best window of opportunity that legal counsel can assist you as within 10 days of being charged of your drunk driving incident. There's a lot of opportunity that can happen within those 10 days and is of grave importance, to your wallet, livelihood and record to make sure that you contact an expert in the field of DUI law within 10 days. But the best policy is always to not drink and drive.
Designated Drivers; Good Standard Operating Procedure
Designated drivers are still commonplace, and it should be a good practice if you're going out in the San Diego, some of the spots that have a high concentration of police officers looking for suspicious driving behavior is in Pacific Beach, the gas lamp district, Encinitas, Del mar, and downtown Oceanside. When driving in peace specific areas in San Diego one should be very careful of, not only being cognizant of what you've had to drink before you get behind the wheel, you should be very careful about driving erratically or with excessive speeds in general.
Part of the reason of the high concentration of DUIs in San Diego is due the fact that there is a large amount of college-age kids, military personnel and overall just a younger crowd out on the road. The mix of college kids, Marines sailors and other younger individuals behind the wheel who don't have a lot of experience treating alcoholic beverages, or don't really have a lot of years under their belt behind the wheel, have a high propensity to get DUIs. In Oceanside which houses one of the biggest Marine bases in the United States, this particular town has a huge volume of DUI cases. So as a good standard operating procedure, if you're out partying with your friends get a designated driver behind the wheel, don't roll the dice DUIs can get very expensive and if you do get one or are faced with a charge it is very important that within 10 days of the DUI charge that you contact a DUI attorney as soon as possible.
What to Do When Pulled Over
So you've been pulled over, you're sitting there in your car, a little nervous. The policeman comes up to your car and you're wondering what to do, what to say and how to act. Here are a few pointers that you may want to incorporate, not only when you feel that you may of had a few too many drinks before you got behind the wheel, but this is a good general practice for when you're pulled over general:
Be Polite: police men even though they may look like robots and all look the same in their uniforms and aviator glasses, are human and can sense when an individual is being facetious or defensive. The best policy to practice when getting pulled over is to be polite as possible. Practicing neutrality is important to me nervous, not being too nonchalant but just being polite.
Don't Get Out Of the Car: police officers deal with a lot of suspicious characters, and if you get pulled over make sure that you just put two hands on the wheel and follow instructions. In no means should you ever get out of the car if you're not instruct, the police officer has no idea what you have under your belt or the cell phone that's your hand is a gun.
Don't Make Excuses: try not to make excuses right out of the gate, just answer questions when asked to question. Answers should be somewhat neutral and not incriminating; practice politeness at the same time don't be too passive viewer of your surroundings and be quick to answer with absolute actuality.
If Asked to Take a Breathalyzer, You May Not Have Choice: most states, when they issue a driver's license that gives the police arrived to give you a chemical test, blood test or breathalyzer test by refusing to take a test with the police officer could, in some states, suspend your license on the spot and can pound your vehicle. Breathalyzers are not perfect, and the results and in certain situations can be fought in court.
If Charged Call an Expert
Stephen Brodsky, a San Diego DUI lawyer, advises that the best window of opportunity that legal counsel can assist you as within 10 days of being charged of your drunk driving incident. There's a lot of opportunity that can happen within those 10 days and is of grave importance, to your wallet, livelihood and record to make sure that you contact an expert in the field of DUI law within 10 days. But the best policy is always to not drink and drive.
Get a DUI Attorney in San Diego to Avoid DUI Arrests
Driving under the Influence or DUI is a very serious offense. If you are arrested under this citation means that you have failed either a field sobriety test, or urine, breath analyzer or blood alcohol level test given by the police. A DUI conviction means that you will either serve time and pay a fee and have a permanent record which is something we don't want to have.
DUI arrests have been rampant especially in California where the best mode of transportation is by car. The wide highways and long distances, as well as easy access to vehicles, make it both a nice place to drive and an easy target for cops to look for suspicious moving vehicles. Those that seem to swerve or are moving too quickly will easily be pulled over and from that moment on, the driver may be grilled about his driving methods and perhaps asked to take a field sobriety test. What many don't know is that a field sobriety test is something that is voluntarily done and those who are aware of this situation may refuse to take the field test. If asked to, the driver may take another form of test. One may take the breath analyzer test or the urine test. These tests may have its form of inconsistencies as well. If a person has burped or regurgitated, he is allowed at least 15 minutes before taking the breath analyzer test. This is to insure that the test is not tainted as acids from the burp may affect the test. Also, the urine test may also be not as reliable and may not be upheld in court.
San Diego for instance has around 16000 cases of DUI instances being held every year. This city is notorious for having a high amount of DUI cases because of its proximity to the Mexican Border and in that instance, there is an assumption that those Americans coming from the border, especially in the early mornings or after long weekend, may have had one drink too many. In such instances, finding a DUI attorney in San Diego is the best option for those who are arrested. A specialized DUI attorney from San Diego knows the ins and outs of such an arrest and is a great resource for anyone arrested from getting convicted. These attorneys will look into the procedure and process of how the evidence was obtained and may find something that may be of use in your defense.
It is always better to be sober and avoid drinking altogether before driving and if you do drink, make sure that there is enough time before you sober up.
DUI arrests have been rampant especially in California where the best mode of transportation is by car. The wide highways and long distances, as well as easy access to vehicles, make it both a nice place to drive and an easy target for cops to look for suspicious moving vehicles. Those that seem to swerve or are moving too quickly will easily be pulled over and from that moment on, the driver may be grilled about his driving methods and perhaps asked to take a field sobriety test. What many don't know is that a field sobriety test is something that is voluntarily done and those who are aware of this situation may refuse to take the field test. If asked to, the driver may take another form of test. One may take the breath analyzer test or the urine test. These tests may have its form of inconsistencies as well. If a person has burped or regurgitated, he is allowed at least 15 minutes before taking the breath analyzer test. This is to insure that the test is not tainted as acids from the burp may affect the test. Also, the urine test may also be not as reliable and may not be upheld in court.
San Diego for instance has around 16000 cases of DUI instances being held every year. This city is notorious for having a high amount of DUI cases because of its proximity to the Mexican Border and in that instance, there is an assumption that those Americans coming from the border, especially in the early mornings or after long weekend, may have had one drink too many. In such instances, finding a DUI attorney in San Diego is the best option for those who are arrested. A specialized DUI attorney from San Diego knows the ins and outs of such an arrest and is a great resource for anyone arrested from getting convicted. These attorneys will look into the procedure and process of how the evidence was obtained and may find something that may be of use in your defense.
It is always better to be sober and avoid drinking altogether before driving and if you do drink, make sure that there is enough time before you sober up.
San Diego Boat Accident Lawyer - Will a Limitation Action Sink Your Boat Accident Case?
Maritime law is the law of the sea. Maritime law is very, very different from California State law. One of the peculiar parts of maritime law is the Limitation of Liability Act. Under the Limitation of Liability Act, if certain factual prerequisites are met, a shipowner can limit its liability for a accident to the value of their vessel.
Stated differently, if you are seriously injured in a boat accident your recovery may be limited to the value of the boat that caused your injuries. Which, quite obviously, may result in you not being adequately compensated for your serious boat injuries.
The Limitation of Liability Act
The Shipowners Limitation of Liability Act of 1851, ("the Act"), may limit the liability of the owner of a vessel to the value of the vessel. This is a unique maritime principal. The Act limits a vessel owners' liability for claims, arising from acts performed by a ship's crew without the owner's knowledge or privity, to the owners' interests in the ship.
Meaning the value of the boat or ship and its cargo. If the ship's value is insufficient to satisfy all claims, the Act provides for equitable apportionment among the claimants.
Vessel owners must either file a Limitation Action in federal court or raise it as a defense. Vessel owners must file a petition to limit liability in the appropriate federal district court within six months after a claimant notifies an owner of a claim. For purposes of the Act, the charterer of any vessel is deemed to be an owner.
A Limitation Action can literally draw your case into federal court. The proceeding is before the admiralty court. The Act provides for all claims against an owner to be aggregated and decided at one time. It prevents multiple claims against a vessel owner. Limitation actions are equitable proceedings.
"What Does This Mean To My Boat Accident Case?"
As a practical matter a Limitation Action can limit your claim to the value of the vessel that caused your injury. This may not be a problem with a cruise ship. It can be a huge problem with a PWC or a ski boat when there are serious injuries or death. The doctrine is very harsh and unfair. It is usually strictly construed.
The Limitation Act requires strict compliance. A proactive seasoned maritime attorney can sometimes defeat a Limitation Action before it is even filed. One way to defeat a Limitation defense is to marshal the evidence such that you can prove privity of the owner of the vessel. That is, the owner of the vessel knew or should have known of the vessel's dangerous condition that caused the injury.
In a boat collision case, when the owner of the vessel is driving the vessel, then a Limitation Action would not apply in most, if not every, situation. Because the owner would have privity of the way he or she was commanding the vessel.
Limitation of Liability Act Case Studies
Mission Bay, San Diego - Boat Pulling Water Skier Collides With a Fishing Boat
The owner of a ski boat was water skiing while being towed by a friend. The friend was operating the owner's boat. The ski boat was going the wrong way on Mission Bay, San Diego, California. The ski boat was not going in a counter-clockwise rotation. The boat operator was watching the skier and plowed into a small fishing boat, severely injuring three middle aged women.
The ski boat owner filed a Limitation Action. The Action was defeated because the owner of the vessel was being pulled as a skier and he could see that his friend was not following the proper counter-clockwise rotation on Mission Bay. Thus, he had knowledge of the acts that were a cause of the collision.
Mexican Waters - Passenger on a Charter Sportfishing Boat Slips Down Ladder
A passenger on a Charter Sportfishing boat was on a four-day fishing trip to Mexican waters. The passenger slips and falls down a steep ladder into the galley. The Limitation defense was defeated by proving the non-skid on the ladder had been worn smooth for months, if not years, before the passenger slipped on the ladder and was seriously injured. There was plenty of time for the owner to have learned of the dangerous condition before the injury incident. Thus, there was privity (i.e.,knowledge).
Catalina Island, California - Charter Sailing Boat Sinks Due to Electrical Problem
An electrical fire starts on a 54 foot Chartered sailing vessel while cruising off Catalina Island. The Captain and 11 passengers abandoned ship. Two of the passengers drown. Litigation discovery reveals months before the sinking, a mechanic had recommended fixing the electrical problem. The owner had try to conceal both the mechanic and the previous electrical problem. The insurance company settled soon after the concealment was uncovered.
Colorado River - Yuma - 16 Year Old PWC Operator Hits Teen on Inner Tube
A 16 year old is operating a personal water craft on the Colorado River, north of Yuma. The PWC clips a teenage girl floating on an inner tube. The teenage girl is seriously injured. The owner of the Jet ski did not require the 16 year old to read the manual nor the PWC's riding instructions for novices. The owner had given the 16 year old less then 3 minutes instruction on how to operate the PWC before allowing the teenager to ride unsupervised. The insurance company for the owner paid the policy limits.
Conclusion
If you were injured or had a family member killed in a boat accident that occurred in navigable waters you need to expect and plan on having to defeat the Limitation of Liability Act. Your California maritime attorney should be proactive in planning for and defeating the Limitation Act defense.
Stated differently, if you are seriously injured in a boat accident your recovery may be limited to the value of the boat that caused your injuries. Which, quite obviously, may result in you not being adequately compensated for your serious boat injuries.
The Limitation of Liability Act
The Shipowners Limitation of Liability Act of 1851, ("the Act"), may limit the liability of the owner of a vessel to the value of the vessel. This is a unique maritime principal. The Act limits a vessel owners' liability for claims, arising from acts performed by a ship's crew without the owner's knowledge or privity, to the owners' interests in the ship.
Meaning the value of the boat or ship and its cargo. If the ship's value is insufficient to satisfy all claims, the Act provides for equitable apportionment among the claimants.
Vessel owners must either file a Limitation Action in federal court or raise it as a defense. Vessel owners must file a petition to limit liability in the appropriate federal district court within six months after a claimant notifies an owner of a claim. For purposes of the Act, the charterer of any vessel is deemed to be an owner.
A Limitation Action can literally draw your case into federal court. The proceeding is before the admiralty court. The Act provides for all claims against an owner to be aggregated and decided at one time. It prevents multiple claims against a vessel owner. Limitation actions are equitable proceedings.
"What Does This Mean To My Boat Accident Case?"
As a practical matter a Limitation Action can limit your claim to the value of the vessel that caused your injury. This may not be a problem with a cruise ship. It can be a huge problem with a PWC or a ski boat when there are serious injuries or death. The doctrine is very harsh and unfair. It is usually strictly construed.
The Limitation Act requires strict compliance. A proactive seasoned maritime attorney can sometimes defeat a Limitation Action before it is even filed. One way to defeat a Limitation defense is to marshal the evidence such that you can prove privity of the owner of the vessel. That is, the owner of the vessel knew or should have known of the vessel's dangerous condition that caused the injury.
In a boat collision case, when the owner of the vessel is driving the vessel, then a Limitation Action would not apply in most, if not every, situation. Because the owner would have privity of the way he or she was commanding the vessel.
Limitation of Liability Act Case Studies
Mission Bay, San Diego - Boat Pulling Water Skier Collides With a Fishing Boat
The owner of a ski boat was water skiing while being towed by a friend. The friend was operating the owner's boat. The ski boat was going the wrong way on Mission Bay, San Diego, California. The ski boat was not going in a counter-clockwise rotation. The boat operator was watching the skier and plowed into a small fishing boat, severely injuring three middle aged women.
The ski boat owner filed a Limitation Action. The Action was defeated because the owner of the vessel was being pulled as a skier and he could see that his friend was not following the proper counter-clockwise rotation on Mission Bay. Thus, he had knowledge of the acts that were a cause of the collision.
Mexican Waters - Passenger on a Charter Sportfishing Boat Slips Down Ladder
A passenger on a Charter Sportfishing boat was on a four-day fishing trip to Mexican waters. The passenger slips and falls down a steep ladder into the galley. The Limitation defense was defeated by proving the non-skid on the ladder had been worn smooth for months, if not years, before the passenger slipped on the ladder and was seriously injured. There was plenty of time for the owner to have learned of the dangerous condition before the injury incident. Thus, there was privity (i.e.,knowledge).
Catalina Island, California - Charter Sailing Boat Sinks Due to Electrical Problem
An electrical fire starts on a 54 foot Chartered sailing vessel while cruising off Catalina Island. The Captain and 11 passengers abandoned ship. Two of the passengers drown. Litigation discovery reveals months before the sinking, a mechanic had recommended fixing the electrical problem. The owner had try to conceal both the mechanic and the previous electrical problem. The insurance company settled soon after the concealment was uncovered.
Colorado River - Yuma - 16 Year Old PWC Operator Hits Teen on Inner Tube
A 16 year old is operating a personal water craft on the Colorado River, north of Yuma. The PWC clips a teenage girl floating on an inner tube. The teenage girl is seriously injured. The owner of the Jet ski did not require the 16 year old to read the manual nor the PWC's riding instructions for novices. The owner had given the 16 year old less then 3 minutes instruction on how to operate the PWC before allowing the teenager to ride unsupervised. The insurance company for the owner paid the policy limits.
Conclusion
If you were injured or had a family member killed in a boat accident that occurred in navigable waters you need to expect and plan on having to defeat the Limitation of Liability Act. Your California maritime attorney should be proactive in planning for and defeating the Limitation Act defense.
The Credentials of Any Good San Diego Criminal Defense Lawyer
The hallmark credentials that you want to see when hiring a San Diego criminal defense lawyer on a serious felony charge are pretty much the same for a criminal defense lawyer anywhere. When you are charged with a serious felony in a state court system where your exposure is many years in prison you don't want someone "practicing" or dabbling on your matter. You want a consummate talented and respected professional that regularly handles the type of criminal charge that you are charged with.
The bottom line is that you want a lawyer with a winning reputation. The profile that makes up that type of lawyer consists of a number of characteristics. You want a lawyer that is well educated. While the law school a lawyer went to isn't necessarily the characteristic that makes the difference, the better law schools produce lawyers who understand the theory of the law better which makes them better able to make arguments that persuade judges.
You also want a lawyer who has a good presence and who is respected in the courts. The more respected your lawyer is, the better he will be able to negotiate, win critical motions, and get rulings favorable to your case. A good lawyer who is respected in his community will be respected anywhere he or she goes to handle a case. The prosecutors and the judges get the picture quickly by the way the lawyer handles themselves.
You want a lawyer who has been practicing many years if your case is a serious felony such as murder, vehicular manslaughter, forcible rape, or child molestation. The more years a lawyer has practiced means that he or she has handled more situations, more cases, and more trials. That combined experience means that they will be able to analyze your case quicker and with more accuracy than a lesser experienced lawyer. Years of experience means they know all the moves and how to implement them effectively at the right moment.
Make sure your lawyer has successfully handled many cases of the type of charge you have. If you are charged with murder, for instance, you want a lawyer who has handled and tried several murder cases. A top gun lawyer should be able to cite several examples of jury trial results and favorable settlements in the type of case you have. There is no reason not to hire a lawyer with a long record of winning. Every lawyer has won a case or two. You want the lawyer with a long list of successful results.
In every major community in this country competent skilled professionals exist who are capable of getting you the best results. A little work trying to find one will be worth the effort. If you throw your money away on someone who isn't up to the task you won't find out until it is too late. You can always change lawyers but you may have spent all of your resources. Major Tip: Don't ask people to refer you to a good lawyer. You may just be getting a friend or a business referral. Ask people: "Who are the five or ten best San Diego criminal defense lawyers to handle a serious state court felony trial case?" You will likely get a list of great lawyers. The good lawyers will all talk to you and you will be able to see the difference and choose who you are most comfortable with and can afford.
The bottom line is that you want a lawyer with a winning reputation. The profile that makes up that type of lawyer consists of a number of characteristics. You want a lawyer that is well educated. While the law school a lawyer went to isn't necessarily the characteristic that makes the difference, the better law schools produce lawyers who understand the theory of the law better which makes them better able to make arguments that persuade judges.
You also want a lawyer who has a good presence and who is respected in the courts. The more respected your lawyer is, the better he will be able to negotiate, win critical motions, and get rulings favorable to your case. A good lawyer who is respected in his community will be respected anywhere he or she goes to handle a case. The prosecutors and the judges get the picture quickly by the way the lawyer handles themselves.
You want a lawyer who has been practicing many years if your case is a serious felony such as murder, vehicular manslaughter, forcible rape, or child molestation. The more years a lawyer has practiced means that he or she has handled more situations, more cases, and more trials. That combined experience means that they will be able to analyze your case quicker and with more accuracy than a lesser experienced lawyer. Years of experience means they know all the moves and how to implement them effectively at the right moment.
Make sure your lawyer has successfully handled many cases of the type of charge you have. If you are charged with murder, for instance, you want a lawyer who has handled and tried several murder cases. A top gun lawyer should be able to cite several examples of jury trial results and favorable settlements in the type of case you have. There is no reason not to hire a lawyer with a long record of winning. Every lawyer has won a case or two. You want the lawyer with a long list of successful results.
In every major community in this country competent skilled professionals exist who are capable of getting you the best results. A little work trying to find one will be worth the effort. If you throw your money away on someone who isn't up to the task you won't find out until it is too late. You can always change lawyers but you may have spent all of your resources. Major Tip: Don't ask people to refer you to a good lawyer. You may just be getting a friend or a business referral. Ask people: "Who are the five or ten best San Diego criminal defense lawyers to handle a serious state court felony trial case?" You will likely get a list of great lawyers. The good lawyers will all talk to you and you will be able to see the difference and choose who you are most comfortable with and can afford.
The Curious Case of Rape and Consequent Defense
In San Diego, the laws are stricter than many other nations. If anyone is found guilty then the accused may have to serve prison for up to 8 or 13 years or a maximum fine of $10,000 and sex offender registration for life will be levied. To avoid such a situation a Rape Defense Lawyer San Diego would prove to be very helpful.
Contacting a Rape Defense Lawyer San Diego should be instant if there have been accusations on any individual. To protect the interests, freedom and future of the accused, the attorney will prepare a defense strategy and work towards protecting the rights of the accused. The selection of the lawyer should be done only after a brief research. The defense lawyer must have a good track record and some success in his or her name.
The San Diego law has a defined law for a rape case and decides on the penalties for this sexual offense. Engagement in sexual intercourse under the following situation will shift the case towards a rape case-
• An intercourse has happened against the victim's will or without the victim's consent; and
• There has been a sexual intercourse by means of force, violence, duress, menace, fear of bodily injury, fear of retaliation or fraud
The case of rape in San Diego is just not limited to unmarried females. There are different offenses related to the specific rape charge that a Rape Defense Lawyer San Diego may have to solve. This includes
• Spousal rape- which is the rape of one's spouse
• Date rape- committed against an acquaintance or person the accused was dating
• Statutory rape- involves sexual intercourse with a minor
In the cases of rape, the investigation procedures may include:
• Thorough check up of the credibility and validity of any witnesses
• Proving wrongful accusations or misidentification
• Exhausting all possibilities for gathering and evaluating DNA evidence
Experienced criminal Rape Defense Lawyer San Diego works with forensic specialists, lab technicians and psychologists in order to evaluate the accuser's case in details. The prosecutors tend to take such crimes seriously because there are good chances for the person to be defended.
Contacting a Rape Defense Lawyer San Diego should be instant if there have been accusations on any individual. To protect the interests, freedom and future of the accused, the attorney will prepare a defense strategy and work towards protecting the rights of the accused. The selection of the lawyer should be done only after a brief research. The defense lawyer must have a good track record and some success in his or her name.
The San Diego law has a defined law for a rape case and decides on the penalties for this sexual offense. Engagement in sexual intercourse under the following situation will shift the case towards a rape case-
• An intercourse has happened against the victim's will or without the victim's consent; and
• There has been a sexual intercourse by means of force, violence, duress, menace, fear of bodily injury, fear of retaliation or fraud
The case of rape in San Diego is just not limited to unmarried females. There are different offenses related to the specific rape charge that a Rape Defense Lawyer San Diego may have to solve. This includes
• Spousal rape- which is the rape of one's spouse
• Date rape- committed against an acquaintance or person the accused was dating
• Statutory rape- involves sexual intercourse with a minor
In the cases of rape, the investigation procedures may include:
• Thorough check up of the credibility and validity of any witnesses
• Proving wrongful accusations or misidentification
• Exhausting all possibilities for gathering and evaluating DNA evidence
Experienced criminal Rape Defense Lawyer San Diego works with forensic specialists, lab technicians and psychologists in order to evaluate the accuser's case in details. The prosecutors tend to take such crimes seriously because there are good chances for the person to be defended.
The Credentials of Any Good San Diego Criminal Defense Lawyer
The hallmark credentials that you want to see when hiring a San Diego criminal defense lawyer on a serious felony charge are pretty much the same for a criminal defense lawyer anywhere. When you are charged with a serious felony in a state court system where your exposure is many years in prison you don't want someone "practicing" or dabbling on your matter. You want a consummate talented and respected professional that regularly handles the type of criminal charge that you are charged with.
The bottom line is that you want a lawyer with a winning reputation. The profile that makes up that type of lawyer consists of a number of characteristics. You want a lawyer that is well educated. While the law school a lawyer went to isn't necessarily the characteristic that makes the difference, the better law schools produce lawyers who understand the theory of the law better which makes them better able to make arguments that persuade judges.
You also want a lawyer who has a good presence and who is respected in the courts. The more respected your lawyer is, the better he will be able to negotiate, win critical motions, and get rulings favorable to your case. A good lawyer who is respected in his community will be respected anywhere he or she goes to handle a case. The prosecutors and the judges get the picture quickly by the way the lawyer handles themselves.
You want a lawyer who has been practicing many years if your case is a serious felony such as murder, vehicular manslaughter, forcible rape, or child molestation. The more years a lawyer has practiced means that he or she has handled more situations, more cases, and more trials. That combined experience means that they will be able to analyze your case quicker and with more accuracy than a lesser experienced lawyer. Years of experience means they know all the moves and how to implement them effectively at the right moment.
Make sure your lawyer has successfully handled many cases of the type of charge you have. If you are charged with murder, for instance, you want a lawyer who has handled and tried several murder cases. A top gun lawyer should be able to cite several examples of jury trial results and favorable settlements in the type of case you have. There is no reason not to hire a lawyer with a long record of winning. Every lawyer has won a case or two. You want the lawyer with a long list of successful results.
In every major community in this country competent skilled professionals exist who are capable of getting you the best results. A little work trying to find one will be worth the effort. If you throw your money away on someone who isn't up to the task you won't find out until it is too late. You can always change lawyers but you may have spent all of your resources. Major Tip: Don't ask people to refer you to a good lawyer. You may just be getting a friend or a business referral. Ask people: "Who are the five or ten best San Diego criminal defense lawyers to handle a serious state court felony trial case?" You will likely get a list of great lawyers. The good lawyers will all talk to you and you will be able to see the difference and choose who you are most comfortable with and can afford.
William F. Nimmo is a highly regarded San Diego criminal defense lawyer who has successfully defended residents statewide for nearly three decades. He has been a San Diego criminal trial lawyer of the year and has been awarded the Directors' Award for Excellence by the San Diego Criminal Defense Bar Association.
The bottom line is that you want a lawyer with a winning reputation. The profile that makes up that type of lawyer consists of a number of characteristics. You want a lawyer that is well educated. While the law school a lawyer went to isn't necessarily the characteristic that makes the difference, the better law schools produce lawyers who understand the theory of the law better which makes them better able to make arguments that persuade judges.
You also want a lawyer who has a good presence and who is respected in the courts. The more respected your lawyer is, the better he will be able to negotiate, win critical motions, and get rulings favorable to your case. A good lawyer who is respected in his community will be respected anywhere he or she goes to handle a case. The prosecutors and the judges get the picture quickly by the way the lawyer handles themselves.
You want a lawyer who has been practicing many years if your case is a serious felony such as murder, vehicular manslaughter, forcible rape, or child molestation. The more years a lawyer has practiced means that he or she has handled more situations, more cases, and more trials. That combined experience means that they will be able to analyze your case quicker and with more accuracy than a lesser experienced lawyer. Years of experience means they know all the moves and how to implement them effectively at the right moment.
Make sure your lawyer has successfully handled many cases of the type of charge you have. If you are charged with murder, for instance, you want a lawyer who has handled and tried several murder cases. A top gun lawyer should be able to cite several examples of jury trial results and favorable settlements in the type of case you have. There is no reason not to hire a lawyer with a long record of winning. Every lawyer has won a case or two. You want the lawyer with a long list of successful results.
In every major community in this country competent skilled professionals exist who are capable of getting you the best results. A little work trying to find one will be worth the effort. If you throw your money away on someone who isn't up to the task you won't find out until it is too late. You can always change lawyers but you may have spent all of your resources. Major Tip: Don't ask people to refer you to a good lawyer. You may just be getting a friend or a business referral. Ask people: "Who are the five or ten best San Diego criminal defense lawyers to handle a serious state court felony trial case?" You will likely get a list of great lawyers. The good lawyers will all talk to you and you will be able to see the difference and choose who you are most comfortable with and can afford.
William F. Nimmo is a highly regarded San Diego criminal defense lawyer who has successfully defended residents statewide for nearly three decades. He has been a San Diego criminal trial lawyer of the year and has been awarded the Directors' Award for Excellence by the San Diego Criminal Defense Bar Association.