Proposition 203, the medical marijuana initiative, has passed in Arizona as of the November 2010 elections. An amazing demonstration of how every vote counts, it passed by less than 5,000 votes. This means that in Arizona, doctors can prescribe marijuana to patients and they can receive legal marijuana for medicinal use.
Medical marijuana was a hotly contested issue. Proposition 203 specifically allows for doctor prescribed marijuana use in the following cases (source is the AZ Department of Health Services):
Cancer
Glaucoma
AIDS/HIV
Hepatitis C
Amyotrophic lateral sclerosis
Crohn's disease
Agitation of Alzheimer's disease
A chronic or debilitating disease or medical condition that produces any of the following:
Cachexia or wasting syndrome
Severe and chronic pain
Severe nausea
Seizures (including those characteristic of epilepsy) or
Severe and persistent muscle spasms (including those characteristic of multiple sclerosis)
Long story short, a person needs to contact a doctor who will sign a certificate stating that a person has a debilitating disease which may be treated with marijuana. The person would then receive a medical marijuana card through the AZ Department of Health Services, and could purchase the drug from a nonprofit registered dispensary.
Marijuana will still not be allowed for personal use in non-medical situations.
What does this mean for Arizona? The Grand Canyon State has joined fifteen other states and the District of Columbia this year in legalizing medical pot. It is still at odds, however, with the federal law which classifies marijuana as an illegal controlled substance. This means that while state law may effectively facilitate the use of marijuana in medical circumstances, that person is still technically in violation of federal law.
In California, which has led the way for medical marijuana policies, there have been several cases of people growing marijuana under the state law and still being prosecuted by the federal government. The Drug Enforcement Administration (DEA) and other federal agencies regularly conduct raids on dispensaries, leading to some conflict between state and federal legislatures.
This will require great care to be taken in Arizona by those wishing to consume medical marijuana. Purchasing an amount which by federal law could be considered trafficking should be carefully considered in light of the potential repercussions. Some cases in California have resulted in between one and five years in a federal penitentiary.
If you've been charged with a federal crime relating to marijuana, contact a reputable criminal attorney immediately. A criminal lawyer will evaluate your case, often at no cost, and represent your issues in the courtroom. This area of law is still hotly contested, and if you find yourself in trouble with contrasting laws you need adequate representation to protect your interests.
Sunday 27 March 2011
Arizona Bankruptcy Lawyer
As defined by United States law, bankruptcy is the settlement of the liabilities of individuals or organizations who cannot meet their financial obligations. The Under the Arizona law, filing bankruptcy immediately stops all creditors from claiming their debts from you, unless the debts are sorted out in accordance with the law. In order to file for bankruptcy in Arizona, you first need to collect all your financial information. You can file the bankruptcy application either yourself or through your attorney. In order to be properly represented, the best option is to go through a bankruptcy lawyer.
Bankruptcy lawyers are those who specialty is in bankruptcy law. A bankruptcy lawyer represents you in court, as well as helps you understand the complications involved in filing bankruptcy. They are the best guides, because they can help you rebuild your future by giving advice about debt consolidation and by protecting you from the harassment of the creditors. To look for a good bankruptcy lawyer, you can contact the Arizona State Bar Association's legal referral service and request a referral. You can also do research on the Internet, or flip thorough yellow pages to find a bankruptcy lawyer. main goal of the bankruptcy laws is to provide the debtors with an opportunity to start fresh. In some cases, the law also rquires that a debtor repay the creditors using property available.
Under the Arizona law, filing bankruptcy immediately stops all creditors from claiming their debts from you, unless the debts are sorted out in accordance with the law. In order to file for bankruptcy in Arizona, you first need to collect all your financial information. You can file the bankruptcy application either yourself or through your attorney. In order to be properly represented, the best option is to go through a bankruptcy lawyer.
Bankruptcy lawyers are those who specialty is in bankruptcy law. A bankruptcy lawyer represents you in court, as well as helps you understand the complications involved in filing bankruptcy. They are the best guides, because they can help you rebuild your future by giving advice about debt consolidation and by protecting you from the harassment of the creditors.
To look for a good bankruptcy lawyer, you can contact the Arizona State Bar Association's legal referral service and request a referral. You can also do research on the Internet, or flip thorough yellow pages to find a bankruptcy lawyer.
Bankruptcy lawyers are those who specialty is in bankruptcy law. A bankruptcy lawyer represents you in court, as well as helps you understand the complications involved in filing bankruptcy. They are the best guides, because they can help you rebuild your future by giving advice about debt consolidation and by protecting you from the harassment of the creditors. To look for a good bankruptcy lawyer, you can contact the Arizona State Bar Association's legal referral service and request a referral. You can also do research on the Internet, or flip thorough yellow pages to find a bankruptcy lawyer. main goal of the bankruptcy laws is to provide the debtors with an opportunity to start fresh. In some cases, the law also rquires that a debtor repay the creditors using property available.
Under the Arizona law, filing bankruptcy immediately stops all creditors from claiming their debts from you, unless the debts are sorted out in accordance with the law. In order to file for bankruptcy in Arizona, you first need to collect all your financial information. You can file the bankruptcy application either yourself or through your attorney. In order to be properly represented, the best option is to go through a bankruptcy lawyer.
Bankruptcy lawyers are those who specialty is in bankruptcy law. A bankruptcy lawyer represents you in court, as well as helps you understand the complications involved in filing bankruptcy. They are the best guides, because they can help you rebuild your future by giving advice about debt consolidation and by protecting you from the harassment of the creditors.
To look for a good bankruptcy lawyer, you can contact the Arizona State Bar Association's legal referral service and request a referral. You can also do research on the Internet, or flip thorough yellow pages to find a bankruptcy lawyer.
Sentencing Guidelines for Marijuana Possession in Arizona
As you probably know, the use of marijuana for medical reasons has been approved by Arizona voters. This does not mean that you have free reign to possess the illegal drug, nor does it mean that the state's laws against possession have become any more lenient.
Ever wonder what you should expect if you're discovered to be in possession (not for sale) of marijuana by a member of Arizona's law enforcement? Here's a breakdown:
Amount --> Severity --> Incarceration --> Fine
Less than 2 lbs. --> Misdemeanor or felony --> 6 months - 2 years --> $750 - $150,000
2 lbs. - 4 lbs. --> Felony --> Up to 2 years --> $750 - $150,000
4 lbs. or more --> Felony --> 1 year - 3.75 years --> $750 - $150,000
Near school or bus --> Felony --> Additional 1 year --> $2,000 - $150,000
If you're convicted of personal possession or use of marijuana, you are eligible for probation and the court is required to suspend the imposition or execution of the sentence. While on probation, you must participate in an appropriate drug treatment or education program and may be required to attend a more stringent treatment program and serve one year in jail for a second offense.
If convicted of a third or subsequent offense, you are not eligible for probation. You must also submit to urine drug tests as a condition of your probation. Of course, if you have a medical prescription, and a small amount of marijuana, you are exempt from the above.
If you've been charged with marijuana possession without a prescription, contact a criminal attorney who can answer your questions and tell you what to expect in court.
Ever wonder what you should expect if you're discovered to be in possession (not for sale) of marijuana by a member of Arizona's law enforcement? Here's a breakdown:
Amount --> Severity --> Incarceration --> Fine
Less than 2 lbs. --> Misdemeanor or felony --> 6 months - 2 years --> $750 - $150,000
2 lbs. - 4 lbs. --> Felony --> Up to 2 years --> $750 - $150,000
4 lbs. or more --> Felony --> 1 year - 3.75 years --> $750 - $150,000
Near school or bus --> Felony --> Additional 1 year --> $2,000 - $150,000
If you're convicted of personal possession or use of marijuana, you are eligible for probation and the court is required to suspend the imposition or execution of the sentence. While on probation, you must participate in an appropriate drug treatment or education program and may be required to attend a more stringent treatment program and serve one year in jail for a second offense.
If convicted of a third or subsequent offense, you are not eligible for probation. You must also submit to urine drug tests as a condition of your probation. Of course, if you have a medical prescription, and a small amount of marijuana, you are exempt from the above.
If you've been charged with marijuana possession without a prescription, contact a criminal attorney who can answer your questions and tell you what to expect in court.
Arizona Mesothelimia Lawyers
Mesothelioma is a rare type of cancer that most frequently arises from the cells lining the sacs of the chest (the pleura) or the abdomen (the peritoneum). It is usually caused by exposure to asbestos. Arizona mesothelioma lawyers are there to help you claim damages when a former company may have been at fault by not telling you that you were working with asbestos. Settlements can often bring a million dollars - most of which will go to cover the cost of medical treatment.
Arizona ranks 22 in the nation for mesothelioma cases. If you are living with mesothelioma or with someone who has it, you are not alone in your struggle. Anyone suffering from this dangerous disease has a right to file a lawsuit. In Arizona, mesothelioma laws come under the personal injury category, and there are many lawyers who specialize in these cases.
A mesothelioma lawyer, with the help of a private investigator, can find out where the exposure to asbestos took place and pinpoint the company or individual responsible for the exposure. Once, the guilt is proved, a mesothelioma lawyer can help you cover medical treatment that is aggressive and life extending and cost thousands of dollars. They will also help you win compensation for pain and suffering. A good lawyer can help you force asbestos manufacturers to reimburse you for your sufferings and take life long responsibility for your livelihood.
Arizona ranks 22 in the nation for mesothelioma cases. If you are living with mesothelioma or with someone who has it, you are not alone in your struggle. Anyone suffering from this dangerous disease has a right to file a lawsuit. In Arizona, mesothelioma laws come under the personal injury category, and there are many lawyers who specialize in these cases.
A mesothelioma lawyer, with the help of a private investigator, can find out where the exposure to asbestos took place and pinpoint the company or individual responsible for the exposure. Once, the guilt is proved, a mesothelioma lawyer can help you cover medical treatment that is aggressive and life extending and cost thousands of dollars. They will also help you win compensation for pain and suffering. A good lawyer can help you force asbestos manufacturers to reimburse you for your sufferings and take life long responsibility for your livelihood.
Internet Sources For Criminal Arrest Records
Criminal records are one of the most helpful and useful documents that anyone can search for various purposes. Every state has its own archive for these files. For instance, the state of Arizona is noted to be very organized when it comes to documenting every single detail of the criminal reports so that it would be of much help to everyone. Obtaining Arizona Criminal Records at the authorized state office requires that you should have a clear purpose for doing the task.
In the state of Arizona, the retrieval of these criminal records can only be done at the state's Criminal History Records Section. As mandated by the Freedom of Information Act, the said information has been made available for public consumption as well. However, accessing these files is still under the jurisdiction of the state. Every state has various policies in terms of providing these records to the people. Thus, anyone who wishes to have it must adhere to those imposed rules and regulations.
It is of no doubt that people find so many reasons why they should search for this Criminal Arrest Records. Among those that are on the list, the most common reason is for security. Most employers rely on this information for employment screening and for conducting a background check on those individuals who are applying for a certain job position in the company. Soon-to-be bride can also use the same information to investigate on their future spouse's trustworthiness.
Indeed, you'll never feel any safer unless you've checked on that suspicious person who is just around you. It is not only the future bride who should watch out, but everyone must. Through the information that these records contain, you will get to know the real personality of your new neighbor, new colleague, your friend, anyone who is newly working under your supervision, and any person who seems to act strangely at you or at someone else.
Unlike in the past when you have to go through the process and procedures at the government offices, Free Arrest Records can be searched in various ways this time. Hence, no more dropping from one office to another, and no more paying for a private investigator to do the process for you anymore. In this time of more technological advancements, the standard way to obtain these arrest records is through the use of the Internet. The good thing about this is that it only requires you to have a computer that has access to the Internet. Once you do, you'll definitely get whatever you want in such a favorable way.
Your choices online range from those free-based search sites to the fee-based ones. Whatever kind of service you choose, based on the weight of your purpose, you will have to input some relevant information such as the name, age and state of residence of the person that you're searching for in order to start the process. Just remember that an accurate, comprehensive, and high quality type of report can only be obtained through those paid services which also guarantee to provide you with the result in a very short period of time.
In the state of Arizona, the retrieval of these criminal records can only be done at the state's Criminal History Records Section. As mandated by the Freedom of Information Act, the said information has been made available for public consumption as well. However, accessing these files is still under the jurisdiction of the state. Every state has various policies in terms of providing these records to the people. Thus, anyone who wishes to have it must adhere to those imposed rules and regulations.
It is of no doubt that people find so many reasons why they should search for this Criminal Arrest Records. Among those that are on the list, the most common reason is for security. Most employers rely on this information for employment screening and for conducting a background check on those individuals who are applying for a certain job position in the company. Soon-to-be bride can also use the same information to investigate on their future spouse's trustworthiness.
Indeed, you'll never feel any safer unless you've checked on that suspicious person who is just around you. It is not only the future bride who should watch out, but everyone must. Through the information that these records contain, you will get to know the real personality of your new neighbor, new colleague, your friend, anyone who is newly working under your supervision, and any person who seems to act strangely at you or at someone else.
Unlike in the past when you have to go through the process and procedures at the government offices, Free Arrest Records can be searched in various ways this time. Hence, no more dropping from one office to another, and no more paying for a private investigator to do the process for you anymore. In this time of more technological advancements, the standard way to obtain these arrest records is through the use of the Internet. The good thing about this is that it only requires you to have a computer that has access to the Internet. Once you do, you'll definitely get whatever you want in such a favorable way.
Your choices online range from those free-based search sites to the fee-based ones. Whatever kind of service you choose, based on the weight of your purpose, you will have to input some relevant information such as the name, age and state of residence of the person that you're searching for in order to start the process. Just remember that an accurate, comprehensive, and high quality type of report can only be obtained through those paid services which also guarantee to provide you with the result in a very short period of time.
Arizona's Constitutional Carry Law
Recently in Arizona there was a Senate bill which passed relatively quietly and with little opposition. It was SB 1270, and it widely increased the rights of Arizonans to carry weapons as they please in the Grand Canyon state. Prior to this bill, weapons could be carried openly by anyone over the age of 18, however they could not be concealed or carried into a restaurant (or any establishment serving alcohol) without a permit issued by the Department of Public Safety. The situation has changed significantly now.
Based on the new law, anyone over the age of 21 can legally conceal a weapon and carry it in public without a permit. Removing the burden of a permit from the average citizen, in some eyes, is a positive thing which enables people to enjoy the freedoms which are listed in the Bill of Rights. To others, the idea of anyone being able to put on a gun and conceal it is horrifying. Either way, as the law stands in December 2010, it is legal...to a point.
That point is as soon as the gun owner tries to enter private property. Any store or person is allowed to block weapons from being carried into their establishment. Failure to comply could result in a criminal trespassing misdemeanor. If the store allows the carrying of weapons (silence is consent) then everyone is in the right. In addition to several exceptions such as school and federal buildings, restaurants which serve alcohol are off limits to those who carry weapons unless they have a concealed weapons permits.
In addition, federal law still states that no one without a permit may carry a weapon concealed within 1,000 feet of a school. In urban areas, it is nearly impossible to come within 1,000 feet of a school. Therefore, many carrying concealed under the constitutional carry bill will still be technically in violation under the federal law.
Obtaining a permit is relatively easy. Training must be taken from any NRA and DPS certified instructor, or certain types of training like military service may be substituted. The appropriate paperwork as well as $60 is sent in with a fingerprint card to DPS, and usually within a few weeks a permit is issued. Arizona is a "shall issue" state, so any citizen without negative markers (criminal record, mental illness, etc) must be issued one.
There are still several complexities and rules within the weapons laws of Arizona which would take a book to explain. Make sure if you are going to carry a weapon you are well versed in these laws so you do not find yourself in trouble with the law when you least suspect it.
Based on the new law, anyone over the age of 21 can legally conceal a weapon and carry it in public without a permit. Removing the burden of a permit from the average citizen, in some eyes, is a positive thing which enables people to enjoy the freedoms which are listed in the Bill of Rights. To others, the idea of anyone being able to put on a gun and conceal it is horrifying. Either way, as the law stands in December 2010, it is legal...to a point.
That point is as soon as the gun owner tries to enter private property. Any store or person is allowed to block weapons from being carried into their establishment. Failure to comply could result in a criminal trespassing misdemeanor. If the store allows the carrying of weapons (silence is consent) then everyone is in the right. In addition to several exceptions such as school and federal buildings, restaurants which serve alcohol are off limits to those who carry weapons unless they have a concealed weapons permits.
In addition, federal law still states that no one without a permit may carry a weapon concealed within 1,000 feet of a school. In urban areas, it is nearly impossible to come within 1,000 feet of a school. Therefore, many carrying concealed under the constitutional carry bill will still be technically in violation under the federal law.
Obtaining a permit is relatively easy. Training must be taken from any NRA and DPS certified instructor, or certain types of training like military service may be substituted. The appropriate paperwork as well as $60 is sent in with a fingerprint card to DPS, and usually within a few weeks a permit is issued. Arizona is a "shall issue" state, so any citizen without negative markers (criminal record, mental illness, etc) must be issued one.
There are still several complexities and rules within the weapons laws of Arizona which would take a book to explain. Make sure if you are going to carry a weapon you are well versed in these laws so you do not find yourself in trouble with the law when you least suspect it.
Statutory Rape Laws in Arizona
Statutory Rape carries with it some seriously dark connotations. Simply by containing the word "rape" the term brings an image of an unwilling participant being forced in awful circumstances. In reality, statutory rape laws essentially represent an inability of the victim to legally consent to sex, however do not generally involve forcible rape charges. This article is specifically directed at still-teen relationships, however the author would go so far as to include anyone charged with the crime less than four years apart from the victim. This article will also focus on Arizona law, the author's home state. Please be aware that laws vary from state to state, and you should reference your own state's statutes to determine the laws in your area.
According to the Arizona Revised Statute 13-1405, "a person commits sexual conduct with a minor by intentionally or knowingly engaging in sexual intercourse or oral sexual contact with any person who is under eighteen years of age." There are no exceptions or qualifications, aside from extra penalties for "trusted persons" such as parents, teachers, or the clergy.
Contrary to popular opinion and rumors of a "three year rule," the only exception to the statutory rape law is that the victim is between 15-17 and the accused is under 19 or is still in high school and is no more than 24 months older.
To put these laws into a more simple format:
(1) Any adult having sexual relations with a person under 15 years old is in violation.
(2) Any adult over the age of 19 years and 1 day old who is not in high school and has sex with a person under 18 is in violation
(3) Any adult who is more than 24 months older than the victim is in violation unless under 19.
(4) Any adult who is still in high school but is less than 24 months older than the victim is not in violation.
It is also an affirmative defense in Arizona to prove that the accused did not know the victim's age at the time the crime was committed. It is also a defense that the two were married at the time.
It is important to educate young men and women who have recently graduated high school on these complex and at times arbitrary laws. Since many people between 17-19 have contact on a regular basis, it is conceivable that a recent graduate could be in technical violation of the law, even if that person had been in a preexisting relationship. Ignorance of the law is not a defense, and conviction of statutory rape carries jail time as well as registry as a sex offender.
If you have been accused of statutory rape in Arizona, contact a criminal defense lawyer in Phoenix. A criminal defense attorney in Arizona will have specific knowledge of the statutes and affirmative defenses, as well as experience with the specific court in question. Going it alone is never advisable, as simple procedural slip-ups can cost you years in jail.
According to the Arizona Revised Statute 13-1405, "a person commits sexual conduct with a minor by intentionally or knowingly engaging in sexual intercourse or oral sexual contact with any person who is under eighteen years of age." There are no exceptions or qualifications, aside from extra penalties for "trusted persons" such as parents, teachers, or the clergy.
Contrary to popular opinion and rumors of a "three year rule," the only exception to the statutory rape law is that the victim is between 15-17 and the accused is under 19 or is still in high school and is no more than 24 months older.
To put these laws into a more simple format:
(1) Any adult having sexual relations with a person under 15 years old is in violation.
(2) Any adult over the age of 19 years and 1 day old who is not in high school and has sex with a person under 18 is in violation
(3) Any adult who is more than 24 months older than the victim is in violation unless under 19.
(4) Any adult who is still in high school but is less than 24 months older than the victim is not in violation.
It is also an affirmative defense in Arizona to prove that the accused did not know the victim's age at the time the crime was committed. It is also a defense that the two were married at the time.
It is important to educate young men and women who have recently graduated high school on these complex and at times arbitrary laws. Since many people between 17-19 have contact on a regular basis, it is conceivable that a recent graduate could be in technical violation of the law, even if that person had been in a preexisting relationship. Ignorance of the law is not a defense, and conviction of statutory rape carries jail time as well as registry as a sex offender.
If you have been accused of statutory rape in Arizona, contact a criminal defense lawyer in Phoenix. A criminal defense attorney in Arizona will have specific knowledge of the statutes and affirmative defenses, as well as experience with the specific court in question. Going it alone is never advisable, as simple procedural slip-ups can cost you years in jail.
Self Defense Laws in Arizona
Self defense is something everyone thinks they understand. The concept of protecting yourself and your loved ones is generally considered to be sacred, and few would argue against such a right. Do you know what the law actually says about self defense? It is not as cut and dry as you might think. Like most statutes, there are complexities and legal language to understand. Why is this important? You never know when you could find yourself in an undesirable situation not of your own choosing; it is important should that time come that you know what you are allowed to do by law to protect yourself and possibly your family.
First, take a look at ARS 13-1404 if you like. Here I'll just go over my explanation.
To put this into layman's terms, you are justified in using lethal force when:
(1) A reasonable person would believe they were about to be injured.
or
(2) A reasonable person would believe someone was attempting to injure them.
and
(1) Physical force is immediately necessary to prevent injury
Further, you may not cry "self defense" if the following is true:
(1) Only words have been exchanged by the parties.
or
(2) The other party is a law enforcement officer.
or
(3) You initiated the encounter, and failed to attempt to leave and the other person keeps trying to hurt you or successfully does so.
Summarizing Section 5, be aware that you are able to use the same level of protection in defense of a third party as you are of yourself, as long as the same criteria are true for them. As you can see, it is not as simple as it first seems. Let me give you an example.
Suppose you are in a shopping mall with your family, when a drunk person approaches you. Again, suppose they are out of their mind, and are threatening you and your family and coming unreasonably close. You still may not use physical force to remove him from the situation. If you did, you could be charged with assault. It is not until you, under the "reasonable person" umbrella, believe you or a family member are about to be immediately injured and only physical force will stop the altercation.
While I do not sit here and seriously suggest you review the Arizona Revised Statutes while in the middle of a potential altercation in a public place, I do suggest that you remember one thing. Decisions made in the heat of the moment will be judged in the cool of the courtroom. Many have been tripped up by failing to remember this when their blood was hot, and they have sacrificed much for their mistake.
If you have been involved in a situation which you believe is justified under the self defense statute, contact a criminal defense lawyer. A criminal defense attorney will be well versed in the statutes and will know how to mount a defense against unreasonable prosecution when self defense is a valid claim.
First, take a look at ARS 13-1404 if you like. Here I'll just go over my explanation.
To put this into layman's terms, you are justified in using lethal force when:
(1) A reasonable person would believe they were about to be injured.
or
(2) A reasonable person would believe someone was attempting to injure them.
and
(1) Physical force is immediately necessary to prevent injury
Further, you may not cry "self defense" if the following is true:
(1) Only words have been exchanged by the parties.
or
(2) The other party is a law enforcement officer.
or
(3) You initiated the encounter, and failed to attempt to leave and the other person keeps trying to hurt you or successfully does so.
Summarizing Section 5, be aware that you are able to use the same level of protection in defense of a third party as you are of yourself, as long as the same criteria are true for them. As you can see, it is not as simple as it first seems. Let me give you an example.
Suppose you are in a shopping mall with your family, when a drunk person approaches you. Again, suppose they are out of their mind, and are threatening you and your family and coming unreasonably close. You still may not use physical force to remove him from the situation. If you did, you could be charged with assault. It is not until you, under the "reasonable person" umbrella, believe you or a family member are about to be immediately injured and only physical force will stop the altercation.
While I do not sit here and seriously suggest you review the Arizona Revised Statutes while in the middle of a potential altercation in a public place, I do suggest that you remember one thing. Decisions made in the heat of the moment will be judged in the cool of the courtroom. Many have been tripped up by failing to remember this when their blood was hot, and they have sacrificed much for their mistake.
If you have been involved in a situation which you believe is justified under the self defense statute, contact a criminal defense lawyer. A criminal defense attorney will be well versed in the statutes and will know how to mount a defense against unreasonable prosecution when self defense is a valid claim.
Differences Between Marijuana Possession Laws in Arizona and California
Recently, California has passed yet another law to further legalize marijuana possession. A possessor must have a marijuana medical card, and buy from a legally authorized dispensary. Possession without a medical card has been reduced to a civil offense, the same as a traffic ticket. While this has made many California residents happy, just across the border the laws in Arizona are still quite strict. Herein, I will describe what these laws mean to those who are visiting or moving from California to Arizona.
If you are from Arizona, you know that marijuana is effectively legalized in certain parts of the state. Medical marijuana cards can be had for a quick sixty dollar visit to a local doctor, and then a stop in to a dispensary, such as one in Oakland. At this point, the user can smoke marijuana free and clear, with no concern for criminal penalties. Without the card, the person could be ticketed for a civil offense, the same as speeding or a trespassing claim. This is deal for some citizens of California, but they should be aware of what this can means should they cross the border.
In Arizona, a quick trip down the I-8, the laws regarding marijuana possession are severe. Simply possessing a small amount for personal use can result in six months to a year in jail and a fine of up to $2,000. Should a person it packaged in a manner the state decides is designed for distribution, the penalties will skyrocket. Delivery or sales of marijuana results in an instant penalty of two and a half years in jail. So think twice before you bring that joint to your friend's house!
Overall, residents of California should always remember when they leave the state that they could be subject to vastly different laws across the border. We think of the United States of America as one large conglomerate, however in reality we are a union of states each with its' own legislative body. This results in something of a patchwork of laws which can be confusing and potentially damaging to visitors.
If you have been arrested for possession of marijuana, contact an Arizona criminal defense lawyer today. An Arizona criminal defense attorney will defend you in court, and can negotiate with the prosecution to lower the charge or at least the sentencing which is levied against you. If you are planning a trip to Arizona from California, ensure that you look up the laws for any goods which could be considered illegal where you are visiting.
If you are from Arizona, you know that marijuana is effectively legalized in certain parts of the state. Medical marijuana cards can be had for a quick sixty dollar visit to a local doctor, and then a stop in to a dispensary, such as one in Oakland. At this point, the user can smoke marijuana free and clear, with no concern for criminal penalties. Without the card, the person could be ticketed for a civil offense, the same as speeding or a trespassing claim. This is deal for some citizens of California, but they should be aware of what this can means should they cross the border.
In Arizona, a quick trip down the I-8, the laws regarding marijuana possession are severe. Simply possessing a small amount for personal use can result in six months to a year in jail and a fine of up to $2,000. Should a person it packaged in a manner the state decides is designed for distribution, the penalties will skyrocket. Delivery or sales of marijuana results in an instant penalty of two and a half years in jail. So think twice before you bring that joint to your friend's house!
Overall, residents of California should always remember when they leave the state that they could be subject to vastly different laws across the border. We think of the United States of America as one large conglomerate, however in reality we are a union of states each with its' own legislative body. This results in something of a patchwork of laws which can be confusing and potentially damaging to visitors.
If you have been arrested for possession of marijuana, contact an Arizona criminal defense lawyer today. An Arizona criminal defense attorney will defend you in court, and can negotiate with the prosecution to lower the charge or at least the sentencing which is levied against you. If you are planning a trip to Arizona from California, ensure that you look up the laws for any goods which could be considered illegal where you are visiting.
Arizona Criminal Records - How to Locate Criminal Records in AZ
The Revised Statute 41-1750 of Arizona provides that the Section of Criminal History Records serve as Arizona's central state repository for the purpose of the Public Records of Arizona. This same statute requires that law enforcement authorities and criminal justice agencies within Arizona should report information regarding disposition and arrest to this repository.
The Revised Statute 41-1750 of Arizona has a clause restricting all copies of any criminal legal records to be shown only to authorized agencies or individuals. What this means is that the records of Arizona cannot be as readily checked as compared to many other states.
Very often people do request one or several copies of an individual's criminal records. Sometimes people may wish to conduct a background check of an individual for any prior conviction records. This could be needed for licensing, employment purposes or any kind of volunteer work. People who do apply for permission to check out criminal records in the state of Arizona are required to go through the process of applicant fingerprint checking.
Other than the official database of the criminal records of Arizona, there does exist several other resources that are also available for checking out these records. There are numerous Internet sites that offer many different ways of retrieving information about the records of Arizona. Here are a few such websites.
Background Ferret is one of the online research firms that accept search requests for the conviction and arrest records of Arizona. For a rather small fee the researchers at Background Ferret will do a thorough search of the criminal history data of Arizona and conduct background checks and screenings of any previous criminal convictions at the county as well as state levels. Individuals requesting for the background search do not need to pay any signup fees. The listed price states the cost of each search.
Another online research firm is Criminal Records dot com. This company conducts searches for felony and misdemeanor records of Arizona as well as records of other states and other countries. At this site you could even request for a search of police reports, a search of warrants and also a search of criminal data nationwide. You would also be allowed to search through their online database of sexual offenders and find out hidden details about any individual.
Background Checks Systems provides nationwide public and private records for legitimate lawful and legal purposes. The company is a nationwide private and public records provider for legal and legitimate lawful purposes. They maintain a comprehensive database of background searches that is of great help to worldwide banking and financial institutions, human resources departments, multinational corporations and small businesses during the process of pre-employment screening. They also provide Identity Verification, Criminal Database Search Statewide and USA Nationwide Person Profiler.
AmerUSA Criminal Records offers Federal Arizona, statewide and nationwide criminal history search. They operate with the understanding that your business may be protected with information gleaned from public records of Arizona. The company discloses information to you that may normally not be revealed to you by any applicant.
The Revised Statute 41-1750 of Arizona has a clause restricting all copies of any criminal legal records to be shown only to authorized agencies or individuals. What this means is that the records of Arizona cannot be as readily checked as compared to many other states.
Very often people do request one or several copies of an individual's criminal records. Sometimes people may wish to conduct a background check of an individual for any prior conviction records. This could be needed for licensing, employment purposes or any kind of volunteer work. People who do apply for permission to check out criminal records in the state of Arizona are required to go through the process of applicant fingerprint checking.
Other than the official database of the criminal records of Arizona, there does exist several other resources that are also available for checking out these records. There are numerous Internet sites that offer many different ways of retrieving information about the records of Arizona. Here are a few such websites.
Background Ferret is one of the online research firms that accept search requests for the conviction and arrest records of Arizona. For a rather small fee the researchers at Background Ferret will do a thorough search of the criminal history data of Arizona and conduct background checks and screenings of any previous criminal convictions at the county as well as state levels. Individuals requesting for the background search do not need to pay any signup fees. The listed price states the cost of each search.
Another online research firm is Criminal Records dot com. This company conducts searches for felony and misdemeanor records of Arizona as well as records of other states and other countries. At this site you could even request for a search of police reports, a search of warrants and also a search of criminal data nationwide. You would also be allowed to search through their online database of sexual offenders and find out hidden details about any individual.
Background Checks Systems provides nationwide public and private records for legitimate lawful and legal purposes. The company is a nationwide private and public records provider for legal and legitimate lawful purposes. They maintain a comprehensive database of background searches that is of great help to worldwide banking and financial institutions, human resources departments, multinational corporations and small businesses during the process of pre-employment screening. They also provide Identity Verification, Criminal Database Search Statewide and USA Nationwide Person Profiler.
AmerUSA Criminal Records offers Federal Arizona, statewide and nationwide criminal history search. They operate with the understanding that your business may be protected with information gleaned from public records of Arizona. The company discloses information to you that may normally not be revealed to you by any applicant.
Attention New Medical Marijuana Patients in Arizona: Have a Criminal Attorney on Retainer!
With Proposition 203's passage, a lot of people are excited for the next few months in Arizona. Those with debilitating diseases will be able to legally be prescribed and purchase marijuana to ease their pain. This in effect decriminalizes marijuana for a select portion of the population. This is new territory for the whole state, to include law enforcement officials. Police, who respect and enforce the laws, will have to adapt to a one hundred and eighty degree turn in what was before a large part of their job. Reversing a portion of the drug war will not happen overnight, and it will require a substantial amount of training. In the mean time, those who hold medical marijuana cards will need to be especially careful not to run afoul of otherwise well meaning police officers.
Up until now, police have been responsible for location and identifying marijuana and marijuana paraphernalia. In Arizona, illegal possession of even a small amount of pot can carry a large fine and possibly jail time. New questions will have to be answered as training standards are instituted, such as:
Should officers ask first if the person is a medical marijuana card upon detection of a suspicious odor?
Should they still search them if they are a card holder and the only reasonable suspicion is a marijuana like odor?
Should the amount being carried to be weighed and measured to determine if the amount is within the standard established by the proposition?
How do you establish whether or not someone is a medical marijuana card holder if they left their card at home?
These are not easy questions to answer. Policy decisions are always a balancing act of personal liberties, officer and public safety, and proper enforcement of the statutes. Until these decisions are hashed out and passed down to the policemen and women on the ground, there will without a doubt be some confusion on how to proceed with a medical marijuana card holder. Mistakes will be made with all good intentions, and some otherwise law abiding citizens may be targeted unfairly.
The police's actions are out of the hands of the author or, most likely, the person reading this article. The action a law abiding citizen who carries a medical marijuana card takes, however, can mean the difference between being caught up in a false arrest and being sent on their way by a police officer or sheriff's deputy.
The card holder should not simply rely on their doctor's prescription as being enough. They should realize that some will probably try to forge these, and police will most likely have no way of verifying them anyway. Instead, the card holder should have a second professional on his side: a criminal defense attorney. A criminal defense lawyer should be put on retainer through a simple consultation meeting and a small amount placed as a down payment in case of legal services needed. In addition, the attorney will be familiar with the card holder and their prescription, so if they are detained by police the lawyer can be contacted and will speak on behalf of the person being detained. A reputable and effective attorney is invaluable in situations involving the police, and can make the difference between spending a night in jail and being sent on their way, legal marijuana in tow.
Don't skip what could be an important step in self-protection while the state is in this period of transition: hire a criminal defense attorney before you find yourself in an otherwise avoidable situation.
Up until now, police have been responsible for location and identifying marijuana and marijuana paraphernalia. In Arizona, illegal possession of even a small amount of pot can carry a large fine and possibly jail time. New questions will have to be answered as training standards are instituted, such as:
Should officers ask first if the person is a medical marijuana card upon detection of a suspicious odor?
Should they still search them if they are a card holder and the only reasonable suspicion is a marijuana like odor?
Should the amount being carried to be weighed and measured to determine if the amount is within the standard established by the proposition?
How do you establish whether or not someone is a medical marijuana card holder if they left their card at home?
These are not easy questions to answer. Policy decisions are always a balancing act of personal liberties, officer and public safety, and proper enforcement of the statutes. Until these decisions are hashed out and passed down to the policemen and women on the ground, there will without a doubt be some confusion on how to proceed with a medical marijuana card holder. Mistakes will be made with all good intentions, and some otherwise law abiding citizens may be targeted unfairly.
The police's actions are out of the hands of the author or, most likely, the person reading this article. The action a law abiding citizen who carries a medical marijuana card takes, however, can mean the difference between being caught up in a false arrest and being sent on their way by a police officer or sheriff's deputy.
The card holder should not simply rely on their doctor's prescription as being enough. They should realize that some will probably try to forge these, and police will most likely have no way of verifying them anyway. Instead, the card holder should have a second professional on his side: a criminal defense attorney. A criminal defense lawyer should be put on retainer through a simple consultation meeting and a small amount placed as a down payment in case of legal services needed. In addition, the attorney will be familiar with the card holder and their prescription, so if they are detained by police the lawyer can be contacted and will speak on behalf of the person being detained. A reputable and effective attorney is invaluable in situations involving the police, and can make the difference between spending a night in jail and being sent on their way, legal marijuana in tow.
Don't skip what could be an important step in self-protection while the state is in this period of transition: hire a criminal defense attorney before you find yourself in an otherwise avoidable situation.
New Mortgage Programs - Web Based Lending
Online mortgages? Really? Sure. A recent benchmark study by Mortgagebot.com states that of the mortgage agencies with an online presence, fully half of their loans have come through the online channel. This speaks volumes about how Americans are searching for information on home loan lending and how much information they're willing to get from Internet sources.
It also says a lot about the future of the mortgage industry as a whole. With the incredible movement to Web-based commerce still going strong, it should come as no surprise that people are readily engaging in every form of e-commerce, including mortgage applications.
Even less surprising is the market segment doing the online mortgage hunting. Young, affluent and creditworthy, is the description on a popular mortgage news site. These folks are creating the future, now. The market will follow where the money goes, and the money is going to the Internet. While the e-commerce boom has long since died down, the real e-commerce surge is just beginning. The fad that everyone called the 'boom' of e-commerce was nothing more than that, a fad. The real interest and movement of business to the Web began slowly and has continued while the .Com folks have mostly faded away.
It's only natural for the mortgage industry to make the move to the Web. After all, they're following the money, like everyone else. The real blossoming of the Internet as an outlet for all types of industry and business has yet to come, but we're seeing the first budding right now. The Web offers engaging visual interaction with enough information to sate anyone's hunger for knowledge. Websites can be incredibly interactive, even beautiful, and mortgage industry websites are no different. With the right tools, websites can be built that truly promote the beauty and immediacy of the "American Dream".
Web-based lending is making headway, a new mortgage program for a new generation of home buyers. As with most new business formats, web-based lending may take a little while to catch on with the majority of Americans and the need for brick and mortar lending institutions will never go away. Web-based lending, new mortgage program or not, is here to stay. An example of its growing popularity is the simple fact that Mortgagebot.com's study was done in the first place. If there weren't vast potential in the technology, it would have been dismissed completely and many mortgage lenders have realized the error of doing this to their chagrin.
The 21st century's answer to the mortgage industry is web-based lending and it offers lending powerhouses the opportunity for secured future growth. Even with our society's increasing technology, most consumers still shop by brand name. Lenders with established names and reputations stand in good stead of reaping the rewards of web-based lending. New mortgage programs like online lending also increase company productivity with all or most of the customer's information originating from Internet portals. Web-based lending also promises greater competitive opportunities for small companies to grow brand recognition across the nation and even the world.
It also says a lot about the future of the mortgage industry as a whole. With the incredible movement to Web-based commerce still going strong, it should come as no surprise that people are readily engaging in every form of e-commerce, including mortgage applications.
Even less surprising is the market segment doing the online mortgage hunting. Young, affluent and creditworthy, is the description on a popular mortgage news site. These folks are creating the future, now. The market will follow where the money goes, and the money is going to the Internet. While the e-commerce boom has long since died down, the real e-commerce surge is just beginning. The fad that everyone called the 'boom' of e-commerce was nothing more than that, a fad. The real interest and movement of business to the Web began slowly and has continued while the .Com folks have mostly faded away.
It's only natural for the mortgage industry to make the move to the Web. After all, they're following the money, like everyone else. The real blossoming of the Internet as an outlet for all types of industry and business has yet to come, but we're seeing the first budding right now. The Web offers engaging visual interaction with enough information to sate anyone's hunger for knowledge. Websites can be incredibly interactive, even beautiful, and mortgage industry websites are no different. With the right tools, websites can be built that truly promote the beauty and immediacy of the "American Dream".
Web-based lending is making headway, a new mortgage program for a new generation of home buyers. As with most new business formats, web-based lending may take a little while to catch on with the majority of Americans and the need for brick and mortar lending institutions will never go away. Web-based lending, new mortgage program or not, is here to stay. An example of its growing popularity is the simple fact that Mortgagebot.com's study was done in the first place. If there weren't vast potential in the technology, it would have been dismissed completely and many mortgage lenders have realized the error of doing this to their chagrin.
The 21st century's answer to the mortgage industry is web-based lending and it offers lending powerhouses the opportunity for secured future growth. Even with our society's increasing technology, most consumers still shop by brand name. Lenders with established names and reputations stand in good stead of reaping the rewards of web-based lending. New mortgage programs like online lending also increase company productivity with all or most of the customer's information originating from Internet portals. Web-based lending also promises greater competitive opportunities for small companies to grow brand recognition across the nation and even the world.
How To Acquire A Bad Credit Mobile Home Loan
Even having with a bad credit, a person can still apply for a mobile home loan through the bad credit mobile home loan facility. If before, lenders would only choose to work with people who have good credit standing, today lending institutions have already recognized the fact that the bad creditors must also be given the opportunity for loan applications.
However, along this risk of opening the window for borrowers under the bad credit category is the special case of conditions set before them. Unlike borrowers with good credit standing, bad creditors will be asked to agree with certain special case agreements designed for them.
Now people wanting to apply for a bad credit home loan may simply go to a lending company and have him checked for his credit score. The credit score would be the company's benchmark as to how to categorize that particular borrower. Standards would take people having less than 620 credit score categorized as a bad credit mobile home loan. Being in this category, the borrower will have to accept special case conditions like higher interest rate as compared t those who belong in another category.
Another condition possibly set is the ballooning of the total payment if in case the borrower fails to pay on the dot. Also, paying less than the amount set would also bring a big problem to the borrower. These are just some of the special conditions that each of the bad credit mobile home loan borrowers must carefully understand so as not to further worsen their bad credit standing. These are also the reasons why people would have to think twice before engaging in this particular loan facility.
Only those who feel and think that they can manage and meet with the conditions set by this loan facility are advised to apply.
However, along this risk of opening the window for borrowers under the bad credit category is the special case of conditions set before them. Unlike borrowers with good credit standing, bad creditors will be asked to agree with certain special case agreements designed for them.
Now people wanting to apply for a bad credit home loan may simply go to a lending company and have him checked for his credit score. The credit score would be the company's benchmark as to how to categorize that particular borrower. Standards would take people having less than 620 credit score categorized as a bad credit mobile home loan. Being in this category, the borrower will have to accept special case conditions like higher interest rate as compared t those who belong in another category.
Another condition possibly set is the ballooning of the total payment if in case the borrower fails to pay on the dot. Also, paying less than the amount set would also bring a big problem to the borrower. These are just some of the special conditions that each of the bad credit mobile home loan borrowers must carefully understand so as not to further worsen their bad credit standing. These are also the reasons why people would have to think twice before engaging in this particular loan facility.
Only those who feel and think that they can manage and meet with the conditions set by this loan facility are advised to apply.
The Importance of Your Credit Check Score
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
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
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.
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%.
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 broadbased 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 unbanked 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 broadbased 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 unbanked 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 benefitted 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 benefitted 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.
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.
Travel Health Insurance For Over 65's - What Senior Travelers Should Know
Today, increasingly seniors are traveling to all parts of the world. As the number of seniors traveling abroad expands, so do health and safety concerns. Pandemics and terrorist attacks are a reality. In addition, many senior citizens have the added challenge of managing health conditions exacerbated by sleep loss, changes in diet, and increased physical exertion. Given the heightened risks, savvy senior travelers are learning how to avoid possible hazards.
Why Travel Health Insurance Has Become More Popular Among Seniors
Greater awareness of health risks and insurance gaps has led to a significant growth in travel health insurance sales. Medicare provides no protection overseas, while Medicare supplement polices strictly limit benefits abroad. Critically, few health insurance policies or supplements provide evacuation benefits should the need arise, to a suitable treatment facility due to a medical emergency.
What A Good Travel Health Insurance Policy Can Do For You
Travel health insurance covers unexpected medical expenses when you are outside of your home country. If you are covered under Medicare, these plans become your primary insurance while abroad. Travel health insurance also fills critical gaps with most Medicare supplemental plans while you are overseas. For example, Medicare supplements typically cover emergencies up to $50,000 and are subject to a $250 deductible and 20% co-insurance. In this case, the coverage gap on a $60,000 hospitalization followed by a medical evaluation of $35,000 will cost the unfortunate traveler $85,000 ($20,000 on the hospital bill and $35,000 for the evacuation charge).
The best travel health insurance plans offer emergency benefits and more. These plans cover everything from hospitalization and surgery to physician visits and prescription medications. The premier plans make it a point to cover sickness resulting from a pre-existing condition or terrorism without limitations. Some policies even pay doctors and hospitals overseas directly, so you avoid the hassles that come with filing a claim.
Many travelers are aware that their credit card company provides emergency medical evacuation benefits to its card members. However, the best travel health insurance plans take this evacuation benefit one crucial step further - if recommended by your attending physician and approved by the company, you can be medically evacuated back to your home area for follow-up treatment and recuperation.
"Admitted" Coverage Versus "Non-Admitted" Coverage
Senior travelers should know that there can be big differences in their rights when they buy travel health insurance. Some plans are licensed and regulated in the U.S. While others are issued offshore beyond the reach of your state's Department of Insurance. In fact, most evacuation membership plans are not regulated or even backed by a top-rated insurance company.
U.S. licensed and approved plans are called "admitted insurance" and afford members the strongest consumer protections. Senior Americans traveling abroad should keep this term in mind. Your personal health and financial security hang in the balance.
"Admitted" insurance advantages include:
1. Protection for the Consumer - You enjoy regulatory protection under insurance laws in your state. These laws are typically very strict and favor consumers. Policy wording must meet or exceed state standards and be written in plain English.
2. Worldwide Provider Networks - If you cannot locate find a physician who is trustworthy and speaks your language, what good is the insurance? The top international health insurance plans give you access to pre-screened medical providers. They can also arrange for doctors and hospitals to bill them directly.
3. Better Insurance Benefits - Insurance coverage from "admitted" companies tends to be more comprehensive, with fewer surprises in the event of a medical claim.
For senior travelers, international travel health insurance from a U.S.-regulated insurance company is the most sensible choice. In addition, more dependable coverage from an "admitted" insurance company typically costs no more than coverage from a non-regulated insurance company.
Why Travel Health Insurance Has Become More Popular Among Seniors
Greater awareness of health risks and insurance gaps has led to a significant growth in travel health insurance sales. Medicare provides no protection overseas, while Medicare supplement polices strictly limit benefits abroad. Critically, few health insurance policies or supplements provide evacuation benefits should the need arise, to a suitable treatment facility due to a medical emergency.
What A Good Travel Health Insurance Policy Can Do For You
Travel health insurance covers unexpected medical expenses when you are outside of your home country. If you are covered under Medicare, these plans become your primary insurance while abroad. Travel health insurance also fills critical gaps with most Medicare supplemental plans while you are overseas. For example, Medicare supplements typically cover emergencies up to $50,000 and are subject to a $250 deductible and 20% co-insurance. In this case, the coverage gap on a $60,000 hospitalization followed by a medical evaluation of $35,000 will cost the unfortunate traveler $85,000 ($20,000 on the hospital bill and $35,000 for the evacuation charge).
The best travel health insurance plans offer emergency benefits and more. These plans cover everything from hospitalization and surgery to physician visits and prescription medications. The premier plans make it a point to cover sickness resulting from a pre-existing condition or terrorism without limitations. Some policies even pay doctors and hospitals overseas directly, so you avoid the hassles that come with filing a claim.
Many travelers are aware that their credit card company provides emergency medical evacuation benefits to its card members. However, the best travel health insurance plans take this evacuation benefit one crucial step further - if recommended by your attending physician and approved by the company, you can be medically evacuated back to your home area for follow-up treatment and recuperation.
"Admitted" Coverage Versus "Non-Admitted" Coverage
Senior travelers should know that there can be big differences in their rights when they buy travel health insurance. Some plans are licensed and regulated in the U.S. While others are issued offshore beyond the reach of your state's Department of Insurance. In fact, most evacuation membership plans are not regulated or even backed by a top-rated insurance company.
U.S. licensed and approved plans are called "admitted insurance" and afford members the strongest consumer protections. Senior Americans traveling abroad should keep this term in mind. Your personal health and financial security hang in the balance.
"Admitted" insurance advantages include:
1. Protection for the Consumer - You enjoy regulatory protection under insurance laws in your state. These laws are typically very strict and favor consumers. Policy wording must meet or exceed state standards and be written in plain English.
2. Worldwide Provider Networks - If you cannot locate find a physician who is trustworthy and speaks your language, what good is the insurance? The top international health insurance plans give you access to pre-screened medical providers. They can also arrange for doctors and hospitals to bill them directly.
3. Better Insurance Benefits - Insurance coverage from "admitted" companies tends to be more comprehensive, with fewer surprises in the event of a medical claim.
For senior travelers, international travel health insurance from a U.S.-regulated insurance company is the most sensible choice. In addition, more dependable coverage from an "admitted" insurance company typically costs no more than coverage from a non-regulated insurance company.
How to Get Affordable Senior Medicare Supplemental Health Insurance
Senior citizens these days are presented with a wide variety of options when it comes to supplemental insurance. Most seniors, even if they have Medicare, are going to need additional supplemental insurance to take care of costs that Medicare does not cover. There are so many choices out there that it can be hard to know what to pick. For starters, one could consider Medicare Part B as a supplement to regular Medicare.
Some people may not know the difference between Medicare Part A and Medicare Part B. Medicare Part A is designed to pay for inpatient hospital visits, home health care and hospice care. Medicare Part B, on the other hand, takes care of expenses like outpatient hospital care and doctor appointments. Some medical equipment is also covered under Medicare Part B. Medicare Part D is another supplemental form of insurance that covers prescription medications.
Another option for seniors is a managed care plan. This means that a group of doctors and hospitals have agreed to provide medical care to senior citizens in exchange for payment from Medicare. These plans require you to only use certain hospitals and doctors who are participants in the managed care plan. This is often a good choice if your preferred hospital and doctor are participants. If they are not, you may want to go with a different form of supplemental insurance.
There are even more options available for seniors these days, such as private plans and religious fraternal benefit plans. If you are confused about what is best for you, speak to a representative at your local department of Social Services. They can tell you more about the different Medicare supplementals and help guide you towards the right choice for your needs.
The Internet can also be an ideal place to learn more about supplemental insurance for senior citizens. The Medicare web site is one resource where you can learn more details about not only Medicare Part A but the available supplement programs. You can also try performing a search engine query to find information about non-Medicare supplemental insurance plans that might be perfect for your individual needs.
Some people may not know the difference between Medicare Part A and Medicare Part B. Medicare Part A is designed to pay for inpatient hospital visits, home health care and hospice care. Medicare Part B, on the other hand, takes care of expenses like outpatient hospital care and doctor appointments. Some medical equipment is also covered under Medicare Part B. Medicare Part D is another supplemental form of insurance that covers prescription medications.
Another option for seniors is a managed care plan. This means that a group of doctors and hospitals have agreed to provide medical care to senior citizens in exchange for payment from Medicare. These plans require you to only use certain hospitals and doctors who are participants in the managed care plan. This is often a good choice if your preferred hospital and doctor are participants. If they are not, you may want to go with a different form of supplemental insurance.
There are even more options available for seniors these days, such as private plans and religious fraternal benefit plans. If you are confused about what is best for you, speak to a representative at your local department of Social Services. They can tell you more about the different Medicare supplementals and help guide you towards the right choice for your needs.
The Internet can also be an ideal place to learn more about supplemental insurance for senior citizens. The Medicare web site is one resource where you can learn more details about not only Medicare Part A but the available supplement programs. You can also try performing a search engine query to find information about non-Medicare supplemental insurance plans that might be perfect for your individual needs.
Short Term Senior Health Insurance Plans
Over the last few years, the short term insurances have become rather popular in the United States. Two of the most important reasons that have led to this enhanced popularity are that these are a lot cheaper and a lot more affordable in comparison to many of the other insurance policies out there. Talking of insurance policies and senior health insurance policies in particular, there are a huge number of varied options available that one can choose from. Again this ample availability of options often tends to confuse people as then it becomes rather tough as people find it hard to settle with any one policy.
Senior individuals, who are more than 65 years of age, may often find it a little more difficult than their younger counterparts when it comes to finding suitable plans. There may be two reasons responsible for this. On one hand they are not really knowledgeable enough of the suitable senior health insurance plans and on the other hand most of them seem to have the wrong idea that the amount of premium which they will be entitled to pay for the insurance policy will keep increasing with their age. Moreover, the fact that the insurance industry works keeping in mind the risk factor hence many of the insurers may not sell their products to senior citizens as there are chances of securing risks.
However, the one good news for senior citizens in this regard is that now there are the short term health insurance plans to help them out. These are special coverage plans offered by the insurance companies for the welfare and benefit of these aged individuals. There are a number of companies in the market who offer quality policies that are cost effective and suit the financial standards of the people of this age group most of whom are supposedly unemployed. The insurance companies in general have two sets of health insurance plans. The first category is available for people who are above the age of 65 and the one's who are below that age group.
Medicare has formulated some special plans for the senior citizens which are precisely short term health insurance policies. The factors that are taken into consideration while providing coverage to the senior citizens include,
- Height
- Family history
- Blood pressure
- Weight
- Cholesterol levels
- Various other considerations in terms of physical and physiological conditions
However, the policy considerations decided upon for the senior citizens are more lenient than the ones that are fixed for the younger citizens. Hence the aged people are given a chance to make the most of the short term health plans taking into view their precise requirements.
Moreover, the short term senior health insurance plans offers some really lucrative rates to the senior citizens which can help them save a lot of their hard earned money. Often termed as temporary insurance policies, these plans provide the coverage only for a stipulated period of time. It can be as short as a single month and can go up to a full year at the most.
Senior individuals, who are more than 65 years of age, may often find it a little more difficult than their younger counterparts when it comes to finding suitable plans. There may be two reasons responsible for this. On one hand they are not really knowledgeable enough of the suitable senior health insurance plans and on the other hand most of them seem to have the wrong idea that the amount of premium which they will be entitled to pay for the insurance policy will keep increasing with their age. Moreover, the fact that the insurance industry works keeping in mind the risk factor hence many of the insurers may not sell their products to senior citizens as there are chances of securing risks.
However, the one good news for senior citizens in this regard is that now there are the short term health insurance plans to help them out. These are special coverage plans offered by the insurance companies for the welfare and benefit of these aged individuals. There are a number of companies in the market who offer quality policies that are cost effective and suit the financial standards of the people of this age group most of whom are supposedly unemployed. The insurance companies in general have two sets of health insurance plans. The first category is available for people who are above the age of 65 and the one's who are below that age group.
Medicare has formulated some special plans for the senior citizens which are precisely short term health insurance policies. The factors that are taken into consideration while providing coverage to the senior citizens include,
- Height
- Family history
- Blood pressure
- Weight
- Cholesterol levels
- Various other considerations in terms of physical and physiological conditions
However, the policy considerations decided upon for the senior citizens are more lenient than the ones that are fixed for the younger citizens. Hence the aged people are given a chance to make the most of the short term health plans taking into view their precise requirements.
Moreover, the short term senior health insurance plans offers some really lucrative rates to the senior citizens which can help them save a lot of their hard earned money. Often termed as temporary insurance policies, these plans provide the coverage only for a stipulated period of time. It can be as short as a single month and can go up to a full year at the most.
California Senior Health Care Insurance
When it comes to California senior health care insurance, a qualified, independent agent or broker is more often better able to assist individuals with great prices than their captive counterparts. Research will tell you that California rates are extremely fluid, or fluctuating rates. They often change monthly and the company providing coverage is changed often to accommodate their budgetary needs. An independent agent is able to shop for seniors to find the best rates whereas a captive agent can only show what his company is offering, and you therefore lose the benefit of competition on behalf of the senior.
One such company that promises "Simple and affordable senior health care," is PR Leap - Accelerating search visibility. They're known as "The Health Insurance Store." They promise to allow consumers to immediately compare prices and coverage of over 100 health care options. They're one of a large number of California companies to work in partnership with Norvax, the designer of the massive search engine for insurance programs. In sixty seconds or less the agent is able to electronically sift through huge amounts of the California senior health care insurance plans and come up with those that will work best for an individual client, based on the information given it. Seniors can then make a visual comparison side by side of the small group the search engine selected for their circumstances.
California claims to lead the nation when it comes to senior citizen issues. However, the sheer number and types of programs one must peruse when making choices, along with the equally liberal numbers of gap insurance plans, make it important to have an effective search engine. They are invaluable for cutting through the confusion, directly to what really counts: seniors finding the best and most affordable health care insurance available. There are many groups of independent agents as well as individual independent agents that can be found very easily with any online search engine. According to Market Watch, the percentage of seniors going online has grown by more than 50% in just the past three years. In fact, a study from Burst Media declares "wired" seniors now spend more hours online than all other adult age groups and the content they research the most is health insurance and Medicare. That would imply that seniors are more than capable of finding California senior health care insurance programs online and "Norvax" and "The Health Insurance Store" are changing the way they do business to accommodate them. California senior health care insurance is not be the only type of insurance you can find through the "Norvax" search engine or "The Health Insurance Store." Plans available in all 50 states are at your fingertips on the internet.
One such company that promises "Simple and affordable senior health care," is PR Leap - Accelerating search visibility. They're known as "The Health Insurance Store." They promise to allow consumers to immediately compare prices and coverage of over 100 health care options. They're one of a large number of California companies to work in partnership with Norvax, the designer of the massive search engine for insurance programs. In sixty seconds or less the agent is able to electronically sift through huge amounts of the California senior health care insurance plans and come up with those that will work best for an individual client, based on the information given it. Seniors can then make a visual comparison side by side of the small group the search engine selected for their circumstances.
California claims to lead the nation when it comes to senior citizen issues. However, the sheer number and types of programs one must peruse when making choices, along with the equally liberal numbers of gap insurance plans, make it important to have an effective search engine. They are invaluable for cutting through the confusion, directly to what really counts: seniors finding the best and most affordable health care insurance available. There are many groups of independent agents as well as individual independent agents that can be found very easily with any online search engine. According to Market Watch, the percentage of seniors going online has grown by more than 50% in just the past three years. In fact, a study from Burst Media declares "wired" seniors now spend more hours online than all other adult age groups and the content they research the most is health insurance and Medicare. That would imply that seniors are more than capable of finding California senior health care insurance programs online and "Norvax" and "The Health Insurance Store" are changing the way they do business to accommodate them. California senior health care insurance is not be the only type of insurance you can find through the "Norvax" search engine or "The Health Insurance Store." Plans available in all 50 states are at your fingertips on the internet.
Health Insurance for Senior Citizens - How to Get the Best Rate
As a senior citizen, you may find yourself in a health insurance crisis - no longer covered by an employer's health insurance policy but needing health insurance more than you ever did before. Of course, Medicare covers some of your medical expenses, but how can you get the best rate on health insurance to cover the gaps Medicare leaves?
What Medicare Covers
Once you are 65 years old, you're eligible to enroll in Medicare. Medicare can include several programs:
* Medicare Part A, which helps cover inpatient hospital care, nursing home care, hospice care, and some home health care. Most people pay for this coverage through taxes, so they do not pay a deductible or monthly premium.
* Medicare Part B, which helps cover doctors' services, outpatient hospital care, medical equipment, physical and occupational therapy and some home health care. Most people pay an annual deductible and a monthly premium for this health plan.
* Medicare Part C, Medicare Advantage Plan, which offers you more choices among health plans and extends your benefits.
* Medicare Part D, prescription drug coverage.
In addition, you may need MediGap coverage, which is health insurance that covers what Medicare does not.
Affordable Health Insurance for Senior Citizens
As you can see, health insurance for senior citizens can be confusing. Fortunately, insurance comparison websites can help you gain a clear picture of what health insurance you need, as well as help you find that insurance at a reasonable rate.
All you need to do is go to an insurance comparison website and complete a simple form with information about yourself and your insurance needs. Once you submit the form, you will soon receive quotes for affordable health insurance from multiple A-rated insurance companies. And at the best insurance comparison websites, insurance professionals are standing by to talk with you and answer any health insurance questions you have. (See link below.)
What Medicare Covers
Once you are 65 years old, you're eligible to enroll in Medicare. Medicare can include several programs:
* Medicare Part A, which helps cover inpatient hospital care, nursing home care, hospice care, and some home health care. Most people pay for this coverage through taxes, so they do not pay a deductible or monthly premium.
* Medicare Part B, which helps cover doctors' services, outpatient hospital care, medical equipment, physical and occupational therapy and some home health care. Most people pay an annual deductible and a monthly premium for this health plan.
* Medicare Part C, Medicare Advantage Plan, which offers you more choices among health plans and extends your benefits.
* Medicare Part D, prescription drug coverage.
In addition, you may need MediGap coverage, which is health insurance that covers what Medicare does not.
Affordable Health Insurance for Senior Citizens
As you can see, health insurance for senior citizens can be confusing. Fortunately, insurance comparison websites can help you gain a clear picture of what health insurance you need, as well as help you find that insurance at a reasonable rate.
All you need to do is go to an insurance comparison website and complete a simple form with information about yourself and your insurance needs. Once you submit the form, you will soon receive quotes for affordable health insurance from multiple A-rated insurance companies. And at the best insurance comparison websites, insurance professionals are standing by to talk with you and answer any health insurance questions you have. (See link below.)
Professional Las Vegas Wedding Photographers Come With All Hotel Packages
Have you just popped the big question to your partner and are ready to seal the bonds with a marriage ceremony? These days the cost of weddings can run into the thousands of dollars; one way to get around this which is also becoming quite popular, is to go to Vegas. Having your wedding in Las Vegas has become cheaper than ever, you can find large hotel/casinos that offer amazing packages for first time couples; beside this the atmosphere of this desert city will make your special day one to remember for a long time.
So how do you start organizing your perfect wedding day in Las Vegas? Most people that travel to this city aim to get located in and around the main boulevard; this is where all the crowds and action are. You might be worried about the overall cost of the larger hotels, but if you do a little research, you can find the cheap hotels Las Vegas has to offer just off of the main drag. In terms of making arrangements you have 2 options open to you, either you do all the leg work and hire the hotel rooms, catering, chapel service, professional Las Vegas wedding photographer. The other option is to find a reasonably priced hotel that has ready made Las Vegas wedding packages, these will include everything you need to make your day special; if you don't want the stress of organizing a wedding and just want to enjoy the moment this is the choice for you.
If you are new to the city, finding a decent Las Vegas wedding package may take some time, but if you know where to look for the cheap hotels Las Vegas has, then it's easy. A good place to start is on the streets coming off the strip, these have a number of great fully featured accommodations there that are ideally located in the thick of the action. The upside to organizing the ceremony yourself is that you can have everything working on your schedule; the hotels will usually rush you through the proceedings as other people will also want to be married after you. If you aren't sure exactly where to begin, here are 2 options to give you an idea of how you might want to approach your Las Vegas wedding.
(1) Excalibur Hotel and Casino - This is one of the better options for couples getting married, not only do they have low priced packages, but this hotel is actually located at the South end of the main strip. This massive complex hotel/casino has nearly 4000 rooms in total, that's 28 floors of space and a beautiful interior. This particular hotel has a medieval theme and you can choose from a number of themed wedding packages, if you fancy getting married in old costumes, then this is the place for you. For couples that just want a standard Las Vegas wedding, the Excalibur hotel also has this option for a low $199 per couple. The price unfortunately doesn't come with a room, but you get ½ an hour in the chapel, a grooms boutonniere, a professional Las Vegas wedding photographer, 18 copyrighted photo proofs and image enlargements. You are limited to having just 20 guests, which is due to the size of the chapel, the wedding I also accompanied by a traditional band and flower arrangements.
(2) Vegas Weddings: Dream Chapel - This is another alternative to hotel package, you could separately ask a chapel to help you organized the ceremony. This particular chapel offers an attractive deal for just $429 per couple, it includes a limousine service for you and 6 other people to take you to the wedding in style, you'll get access to a private bridal suite where you can get dressed and add the finishing touches to your gown before the big moment. There are several venues available and you can choose the one that suits you, besides this there offer a bouquet of flowers for the brides maid, a grooms boutonniere, a copy of your marriage certificate in a sealed protective casing, your own professional Las Vegas wedding photographer, 18 quality photo prints of the action and finally for any friends or family that couldn't make it, there will be a live internet broadcasting for them.
So how do you start organizing your perfect wedding day in Las Vegas? Most people that travel to this city aim to get located in and around the main boulevard; this is where all the crowds and action are. You might be worried about the overall cost of the larger hotels, but if you do a little research, you can find the cheap hotels Las Vegas has to offer just off of the main drag. In terms of making arrangements you have 2 options open to you, either you do all the leg work and hire the hotel rooms, catering, chapel service, professional Las Vegas wedding photographer. The other option is to find a reasonably priced hotel that has ready made Las Vegas wedding packages, these will include everything you need to make your day special; if you don't want the stress of organizing a wedding and just want to enjoy the moment this is the choice for you.
If you are new to the city, finding a decent Las Vegas wedding package may take some time, but if you know where to look for the cheap hotels Las Vegas has, then it's easy. A good place to start is on the streets coming off the strip, these have a number of great fully featured accommodations there that are ideally located in the thick of the action. The upside to organizing the ceremony yourself is that you can have everything working on your schedule; the hotels will usually rush you through the proceedings as other people will also want to be married after you. If you aren't sure exactly where to begin, here are 2 options to give you an idea of how you might want to approach your Las Vegas wedding.
(1) Excalibur Hotel and Casino - This is one of the better options for couples getting married, not only do they have low priced packages, but this hotel is actually located at the South end of the main strip. This massive complex hotel/casino has nearly 4000 rooms in total, that's 28 floors of space and a beautiful interior. This particular hotel has a medieval theme and you can choose from a number of themed wedding packages, if you fancy getting married in old costumes, then this is the place for you. For couples that just want a standard Las Vegas wedding, the Excalibur hotel also has this option for a low $199 per couple. The price unfortunately doesn't come with a room, but you get ½ an hour in the chapel, a grooms boutonniere, a professional Las Vegas wedding photographer, 18 copyrighted photo proofs and image enlargements. You are limited to having just 20 guests, which is due to the size of the chapel, the wedding I also accompanied by a traditional band and flower arrangements.
(2) Vegas Weddings: Dream Chapel - This is another alternative to hotel package, you could separately ask a chapel to help you organized the ceremony. This particular chapel offers an attractive deal for just $429 per couple, it includes a limousine service for you and 6 other people to take you to the wedding in style, you'll get access to a private bridal suite where you can get dressed and add the finishing touches to your gown before the big moment. There are several venues available and you can choose the one that suits you, besides this there offer a bouquet of flowers for the brides maid, a grooms boutonniere, a copy of your marriage certificate in a sealed protective casing, your own professional Las Vegas wedding photographer, 18 quality photo prints of the action and finally for any friends or family that couldn't make it, there will be a live internet broadcasting for them.
How to Have a Great Family Trip in Las Vegas
You're getting all hyped up for your first trip to sin city Las Vegas, you have your bags packed and ready to go, got you take it all planned out in advance and your work schedule has been cleared and ready for you to take off to have the time of your life. The only thing that's wrong here with this picture is that you're not sure exactly which places you plan to go to have the best time ever. You have your wife and three kids with you and you want to take your kids into consideration here. I know from past experience that if you're Las Vegas strip is not planned that time can go by so fast and it passes you up without getting the best possible fun out of your trip. Now I would recommend a few great places in Las Vegas where you and the kids can have fun at the same time.
The Excalibur Hotel in Las Vegas
The Excalibur is a great hotel in Las Vegas has everything you would want in a casino hotel and more. You can gamble the day away and after you're done gambling you can take your wife and kids to the special tournament of Kings dinner show which is like taking a step back in time and seeing how people lived in medieval England. Your dinner comes complete with a great jousting show and other great shows like invading armies with beautiful dancing maidens and to top it all off fireworks show you will never forget. This is one show in Las Vegas that is great for kids and the younger part in anyone that is looking for great adventure, a guaranteed good time for anyone at any age.
The Circus Circus Hotel
If after your visit to the Excalibur Hotel in Las Vegas you're still left the sense of adventure and want to experience more than why not head on over to Circus Circus. Circus Circus isn't on as the largest permanent big top circus in the world and is open 24 hours a day for anyone to enjoy. Since the last time I visited Circus Circus many years ago they have added many other great themes such as the new adventure don't which features an upside down roller coaster ride that will give anybody an adrenaline rush. Adventure don't also features a special 4D show called Marvin the Martian who is the original character from the old Bugs Bunny and Donald Duck cartoons.
Circus Circus also features their new golf course called Primm Valley, a gigantic shopping mall for all of your wife's shopping pleasures and to top it all off you can travel virtually any place in Las Vegas at the special Circus Circus Dollar rent a car service which runs specials for Circus Circus clients. Plus, Circus Circus has some of the best hotel room rates out there and has many regular specials for you to book in advance like the early bird special in the $50 free gas which requires you to book a three night minimum in advance.
Best Casino Odds
Now if you're looking for casinos that will give you better odds for slot players, then you might want to try some of the smaller casinos that are right up the street from the big ones. These smaller casinos cannot compete with the specials and advertising at the bigger casinos offer so they try to even the playing field by offering better odds on their slot machines. Now some people just go to Las Vegas for the look and feel of a casino but if you want to come away from your Vegas trip with at least some or all of your money back I would suggest playing slots the smaller casinos.
Now sure I left a lot of bigger casinos out but I am taking into consideration the fact that people are bringing their whole families with them so my suggestions have always been geared towards Vegas in a family fun setting specially during these troubled economic times. I sure hope that this article has given you the information you need before you make your next decision to go to Las Vegas.
Good luck and happy sailing.
The Excalibur Hotel in Las Vegas
The Excalibur is a great hotel in Las Vegas has everything you would want in a casino hotel and more. You can gamble the day away and after you're done gambling you can take your wife and kids to the special tournament of Kings dinner show which is like taking a step back in time and seeing how people lived in medieval England. Your dinner comes complete with a great jousting show and other great shows like invading armies with beautiful dancing maidens and to top it all off fireworks show you will never forget. This is one show in Las Vegas that is great for kids and the younger part in anyone that is looking for great adventure, a guaranteed good time for anyone at any age.
The Circus Circus Hotel
If after your visit to the Excalibur Hotel in Las Vegas you're still left the sense of adventure and want to experience more than why not head on over to Circus Circus. Circus Circus isn't on as the largest permanent big top circus in the world and is open 24 hours a day for anyone to enjoy. Since the last time I visited Circus Circus many years ago they have added many other great themes such as the new adventure don't which features an upside down roller coaster ride that will give anybody an adrenaline rush. Adventure don't also features a special 4D show called Marvin the Martian who is the original character from the old Bugs Bunny and Donald Duck cartoons.
Circus Circus also features their new golf course called Primm Valley, a gigantic shopping mall for all of your wife's shopping pleasures and to top it all off you can travel virtually any place in Las Vegas at the special Circus Circus Dollar rent a car service which runs specials for Circus Circus clients. Plus, Circus Circus has some of the best hotel room rates out there and has many regular specials for you to book in advance like the early bird special in the $50 free gas which requires you to book a three night minimum in advance.
Best Casino Odds
Now if you're looking for casinos that will give you better odds for slot players, then you might want to try some of the smaller casinos that are right up the street from the big ones. These smaller casinos cannot compete with the specials and advertising at the bigger casinos offer so they try to even the playing field by offering better odds on their slot machines. Now some people just go to Las Vegas for the look and feel of a casino but if you want to come away from your Vegas trip with at least some or all of your money back I would suggest playing slots the smaller casinos.
Now sure I left a lot of bigger casinos out but I am taking into consideration the fact that people are bringing their whole families with them so my suggestions have always been geared towards Vegas in a family fun setting specially during these troubled economic times. I sure hope that this article has given you the information you need before you make your next decision to go to Las Vegas.
Good luck and happy sailing.
Las Vegas Hotels at Bargain Basement Prices
When you think of the glitz and glamour that is Las Vegas, the dollar signs begin ringing in your head. With all of the fine-dining, boutique shopping & partying shoulder to shoulder with A-list celebrities that goes on, its understandable to get the impression that the Vegas scene is just too expensive for you to enjoy. WRONG!
A trip to Las Vegas can actually be surprisingly affordable - so long as you don't blow your budget on the roulette wheel. With over 300 hotels to choose from, needless to say competition is extremely tight, which is great for us the consumers as this tends to force the prices down. Below is a list of four Vegas hotels which can be picked up from less than $40 per night! Thats right - modern, spacious hotel rooms in the heart of Las Vegas for under $40!
Circus Circus
This 3-star hotel on the strip is possibly the best value for money of all Vegas properties, boasting its own indoor theme park for both adults and kids to enjoy. The hotel also features a large outdoor swimming pool, spa & wellness centre, an array of quality bars and restaurants, and first-class gaming facilities with the hotel's casino featuring a 'race and sports betting auditorium' second to none. For those ready to take the plunge, there is even an on-site wedding chapel.
Imperial Palace Casino Hotel
The Japanese-styled 3-star hotel provides a large outdoor pool area equipped with jacuzzi, spa & massage service, excellent gaming facilities, and awesome in-house restaurants and bars, including the infamous Rockhouse nightclub. Like Circus Circus, Imperial Palace also features an on-site wedding chapel.
Centrally located on the strip, this hotel provides much more than the price tag would suggest.
Riviera Hotel & Casino
The extremely affordable Riviera hotel boasts a luxurious outdoor swimming pool and tennis courts, a number of top restaurants and bars, and an impressive on-site casino. For those in need of a little pampering, the elegant spa & beauty centre offers great massage and body therapies. All guest rooms are equipped with large flat screen TVs.
Excalibur Hotel & Casino
The recently renovated Excalibur hotel will blow you away when you see what's on offer. This 3-star hotel on the strip features 2 amazing outdoor swimming pools with waterslides for the kids, and cabanas for the adults, 6 mouth-watering restaurants, numerous bars and lounges, a full service spa and fitness centre, and nightly in-house entertainment. There is also fantastic gaming facilities at Excalibur's casino.
If you are planning a trip to Vegas on a tight budget, be sure to stay at one of these four hotels. You simply can't go wrong!
A trip to Las Vegas can actually be surprisingly affordable - so long as you don't blow your budget on the roulette wheel. With over 300 hotels to choose from, needless to say competition is extremely tight, which is great for us the consumers as this tends to force the prices down. Below is a list of four Vegas hotels which can be picked up from less than $40 per night! Thats right - modern, spacious hotel rooms in the heart of Las Vegas for under $40!
Circus Circus
This 3-star hotel on the strip is possibly the best value for money of all Vegas properties, boasting its own indoor theme park for both adults and kids to enjoy. The hotel also features a large outdoor swimming pool, spa & wellness centre, an array of quality bars and restaurants, and first-class gaming facilities with the hotel's casino featuring a 'race and sports betting auditorium' second to none. For those ready to take the plunge, there is even an on-site wedding chapel.
Imperial Palace Casino Hotel
The Japanese-styled 3-star hotel provides a large outdoor pool area equipped with jacuzzi, spa & massage service, excellent gaming facilities, and awesome in-house restaurants and bars, including the infamous Rockhouse nightclub. Like Circus Circus, Imperial Palace also features an on-site wedding chapel.
Centrally located on the strip, this hotel provides much more than the price tag would suggest.
Riviera Hotel & Casino
The extremely affordable Riviera hotel boasts a luxurious outdoor swimming pool and tennis courts, a number of top restaurants and bars, and an impressive on-site casino. For those in need of a little pampering, the elegant spa & beauty centre offers great massage and body therapies. All guest rooms are equipped with large flat screen TVs.
Excalibur Hotel & Casino
The recently renovated Excalibur hotel will blow you away when you see what's on offer. This 3-star hotel on the strip features 2 amazing outdoor swimming pools with waterslides for the kids, and cabanas for the adults, 6 mouth-watering restaurants, numerous bars and lounges, a full service spa and fitness centre, and nightly in-house entertainment. There is also fantastic gaming facilities at Excalibur's casino.
If you are planning a trip to Vegas on a tight budget, be sure to stay at one of these four hotels. You simply can't go wrong!