How to Find the Right Lender

piggyback-mortgage-house-familyWe all are daydreaming of a big and beautiful or small and cozy, but our own house. The process of buying a house can be, and in fact it is, very confusing and stressful. State and federal laws, current mortgage rates, tax considerations, your personal preferences and your financial situation – all these only add more headache to you.

One of the most confusing parts of the mortgage process can be figuring out all the different kinds of lenders that deal in home loans.

So, in order to get the best deal, or you have other special circumstances to address, understanding the different types of lenders can be a big plus.

There are direct lenders, retail lenders, mortgage brokers, portfolio lenders, correspondent lenders, wholesale lenders and others.

First, let’s define a lender and what he does. It is someone who lends money to another; it can be individual, public or private group. The money that was borrowed should be repaid with additional interest.

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7 Steps to Creating an Estate Plan For Life

estate plan

Many people fail to create an estate plan because they don’t truly understand what is involved and therefore believe it is too complicated. But the real truth is that creating an estate plan during your lifetime is far less complicated (and less expensive) than what your family will deal with after you are gone, if you don’t:

1. Create a Trust. When most people think of preparing for the end of life, they think of writing a Will. But having a Will without a Trust is a fast track to putting your family in the Courthouse after you’re gone. Instead, to keep your family out of Court, you’ll want to set up a Trust and title all of your assets to be owned by that Trust. While it might feel like a lot of effort up front, it will save your family a LOT of trouble after you’re gone, and it only takes a couple of days to gather the necessary statements and financial information. Plus, a lot of my clients have stated that putting all their financial information in once place that was easily accessible was something that had been on their “to-do list” anyways!

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Compliments of Mark Anderson of Andertoons

U.S. Personal Income Tax Rates – How Do They Compare Wiith the Rest of the World?


If you feel that personal income taxes in the United States are too high, you might be interested to learn that more than 8,000 French households had their 2012 tax bills top 100% of their income.

CNBC, in an article written by Holly Ellyatt entitled: Thousands of French Households Taxed 100%,French Symbol images it was reported that an additional 12,000 households paid taxes that were worth more than 75 percent of their 2011 income and that a further 9,910 households were taxed at more than 85 percent of their income.

The French business newspaper, Les Echos, reported that the excessively high taxes were the result of a “one-off levy” that was imposed on the 2011 incomes of French households with assets of more than 1.3 million euros (approximately $1.67 million).  The surcharge was introduced by socialist President Francois Hollande in an attempt to offset the cost of a rebate scheme and taxation cap that had been introduced by former President Nikolas Sarkozy.

In response to the personal income tax changes, the French Constitutional Council said that: “such a high income rate was unfair and could be viewed as confiscatory”.  The Council went one step further suggesting that the government should shift the burden to French companies thereby causing a major uproar throughout the French business community.

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The European Union Emissions Trading Scheme Prohibition bill



In a recent article by Leroy Baker entitled: US Nearer To Forbidding Its Airlines To Comply With EU ETS is stated that in the Senate, the Commerce Committee has approved a bill that forbids US airlines to comply with the European Union’s emissions trading scheme (ETS). It followed the passage by the United States House of Representatives in October last year.

On January 1, 2012, the EU ETS has been widened to aviation activities from or to European land, to provide a solution to taxing aviation emissions which were excluded from the Kyoto Protocol. Under the ETS, airlines operating into and out of the EU are asked to immediately start purchasing emissions allowances. However, they are expected to remit the sums in 2013.

The US and 16 other non-EU countries try to avoid any conflict of sovereignty and to prevent a potential trade war. The US government would decline any unilateral EU ETS on airlines starting before 2020. The government would hope that a global proposal could be handled during the next meeting of the International Civil Aviation Organization (ICAO).

The European Union Emissions Trading Scheme Prohibition bill would stipulate that the US Secretary of Transportation and the Administrator of the Federal Aviation Administration should «use their authority to conduct international negotiations and take other actions necessary to ensure that operators of civil aircraft of the US are held harmless from any ETS unilaterally established by the EU».

Co-sponsor of the bill in the Senate, Claire McCaskill (D — Missouri), said «To subject Americans to a tax levied by the EU while they fly in US airspace is a dramatic overreach and assault on our sovereignty – especially when European countries can use that money for anything they’d like. The bottom line is that European governments have no business imposing a tax on our air travel.» 

The other co-sponsor, John Thune (R – South Dakota), added that “Congress must act to protect America’s sovereignty and ensure that US operators and passengers are not penalized by this illegitimate tax. More than USD3.1bn will be wrapped up in new taxes between 2012 and 2020 that could otherwise be invested in creating jobs and stimulating economic growth in our country.

The bill has been reported by the Commerce Committee and it will be placed on the legislative calendar, thus allowing for full Senate consideration.