Section 105

julieg713 asked:

My experiment comparing: *+*Urban Decay Primer Potion*+* with *+*Too Faced Shadow Insurance*+* Fabulous article on UDPP packaging: http://www.clumpsofmascara.com/2008/01/udpp-has-been-holdin-out.html

MICHEAL

asked:


I am thinking of moving into the City of Detroit, but, the city seems to be going through some very strange changes. More higher priced homes are being created in the downtown area, more people of different races are moving to Detroit, and the cost of living in Detroit is rising. It seems that 5 years ago, a person could find a nice brick house with a garage in a decent neighborhood in Detroit for about $85,000.00 to $105,000.00 but now — the price of a comparable home is anywhere from $120,000.00 to $140,000.00. I could spend this much on a house in the suburban area, say Royal Oak or Troy. Yes I would be further away from the city, but, I would not experience as much crime. The crime rate in Detroit is high and so is the cost of insurance. What do you think? Are there any other cities you could recommend that are not too far away from Detroit?

AGUSTIN

hill0723 asked:

Bangkok Insurance

JAMAR

Michael Challiner asked:


Are you one of the one in twenty motorists who regularly drive without insurance? You’d better watch out - your car could be heading for the crusher and shipped off to the world’s biggest scrap smelter in China!

New powers now allow the police to seize, impound and crush any car found on the road without insurance. A pilot scheme was introduced in Durham last spring. Since then, police have impounded more than 1,200 cars. Of those around half have been crushed into cubes and packed off for smelting.

Operation Takeaway as the pilot scheme was known, has been such a big success, that police forces throughout the UK are enthusiastically polishing up their tow trucks. The scheme is now supported by a new national police database that’s supported by the insurance industry. It enables the police to check the insurance status of every car in the UK whilst they’re sitting in their patrol car.

Now if you’re caught red handed without car insurance you’re forced to hand your keys to the police at the roadside. There are no exceptions - this applies to everyone; it doesn’t matter if it’s just a forgetful mistake or conscious driving without insurance.

Then you’ll have to get your skates on! You’ve just 14 days to produce a valid insurance policy to the police and collect your car. And other costs mount up. Before you can collect your car, you have to pay the cost of kerbside recovery (around £105) and the cost of secure storage - and that could easily amount to £15 a day. So, if you leave collecting your car to the 14th day, you could be in for a bill for £315.

And if you don’t reclaim your car, off to the crusher it goes!

During the pilot scheme, the cost of crushing the cars was partly funded by Direct Line. They have estimated that Operation Takeaway prevented up to 2,000 accidents. And many of the cars impounded by the police were found to be un-roadworthy.

A police spokesman said, ” Uninsured drivers are often guilty of many other offences. Such as having neither driving licence nor MOT certificate. We are doing everything in our power to get these dangerous and illegal drivers off our roads”.

Indeed, uninsured drivers are much greater problem than many of us would expect. The Department of Transport recently reported that 1 in 20 motorists regularly drive without insurance. Furthermore, research from the Association of British Insurers discovered that uninsured drivers are amongst the most dangerous on the roads. On average they cause one accident every six months and are three times more likely to be convicted of driving without due care and attention.

And who pays for those uninsured accidents? We do! The average car insurance premium is loaded by £30 to cover the cost of damage caused by uninsured motorists. Across the UK that adds up to an extra £500 million paid out each year by the law-abiding motorists!

But that’s not the end of our financial pain. If an uninsured vehicle collides into your car, it’s still recorded as a “fault claim” on your policy. This means you’ll have to pay the excess when your car is repaired and unless you’ve got Claims Protection on your policy, your no-claims bonus will take a knocking. Over a two-year period, the reduction in your no claims bonus could easily cost £275 in higher premiums.

The move to take cars off the road and crush them has been warmly welcomed by the Association of British Insurers. The ABI has long criticised the leniency of punishment handed out by the courts to uninsured motorists but they still want tougher penalties. Offenders are typically fined just £150 to £200 - with time to pay - and this is much less than the average car insurance premium. Surely this cannot be true justice!



LINWOOD

Drew Miles asked:


The first step in moving yourself from the “uneducated” tax system to the “educated” tax system is to have your own business. I’ve got great news; Tax Certificate Investing is a business.

Many new investors don’t capitalize on this distinction and they grossly overpay their income taxes as a result.

Unenlightened investors who confine themselves into the W-2 tax system give up between 42% and 55% in taxes. That’s because there are only a handful of deductions available to you in that system. Things like the interest on your home mortgage and some limited amount of medical deductions come to mind.

Yet by shifting into the other, more favorable tax system, you can reduce your taxes into the teens or even into single digits. Yes, that means you could be paying only 5%-15% by knowing and using some simple strategies. Strategies that the wealthiest people in America have been using for decades. This can save you $10,000 - $50,000 per year in cold, hard cash.

Let’s look at some of the key tax-saving differences.

First, the entire framework for the two systems is completely different. In the uneducated system, you must pay for your expenses with after-tax dollars. I’ll illustrate the

W-2 System this way:

Earn

- Taxes

————

Live on what’s left over.

So, if you earn $100,000 and are paying $45,000 in taxes (Federal, State and FICA), you only have $55,000 left over to live on. Its tough to get ahead this way.

Yet, the educated system turns the tables on this formula:

Earn

- Spend

————

Pay taxes on the balance

Can you see the HUGE shift here. Using the same figures, if you make $100,000 and have $55,000 in deductable expenses*, you only have to pay taxes on $45,000. That’s a tremendous savings potential.

Next, business owners have hundreds of deductions available to them instead of the relative handful for W-2 employees. In fact, we have identified over 300 individual expenses you can write off (most of them are 100% deductible). Again, fully utilizing these deductions can put thousands of dollars in your pocket.

Simple examples include writing off your phone, fax, cell, computer, home office, supplies, internet connection and business meals and entertainment. By re-charactering these expenses from personal expenses into business expenses, you can significantly reduce your taxable income and therefore your income tax obligation.

The next key is to use what I call the Power of Corporations. Corporations have a different tax structure than individuals. As of this writing**, here are the rates.

Taxable income over:_______Not over:______Tax rate:

$0______________________$50,000_______15%

50,000__________________75,000________25%

75,000__________________100,000_______34%

100,000_________________335,000_______39%

335,000_________________10,000,000____34%

10,000,000______________15,000,000____35%

15,000,000______________18,333,333____38%

18,333,333______________…………..______35%

Single Taxpayers–2005

Taxable income:________________________________Tax:

Over:________But not over:________Tax:__________+%:_________On amount over:

$ 0__________$ 7,300____________$ 0.00_________10__________$ 0

7,300_________29,700____________730.00________15__________7,300

29,700________71,950____________4,090.00______25__________29,700

71,950________150,150___________14,652.50_____28__________71,950

150,150_______326,450___________36,548.50_____33__________150,150

326,450_______…….______________94,727.50_____35__________326,450

Taking a close look at these tables is very revealing. For example, a corporation with a $50, 000 net income pays only 15% tax. Yet, an individual making the same $50,000 has to pay 25% tax. If you think about it, that’s a double whammy because they get almost no deductions, plus they pay a higher rate.

You deserve better than that.

On the high end of things, corporations don’t reach the 35% tax rate until they make more than $10 million in net income. Individuals hit the 35% rate at just $326,450.

Are you starting to see the savings potential? Are you starting to get excited?

But there’s still another important benefit for you. By incorporating, you can greatly reduce the self employment tax. That’s because if you do business as a sole proprietor, you pay self employment tax from the first dollar you make. That’s not so for corporations. This simple strategy is overlooked by about 90% of small business owners.

The next area of savings is what I call the Golden Tax Secrets. These are little known, highly effective strategies that you can begin using immediately.

Here are just some of them:

1. Group Term Life Insurance. -Sec 79. You can receive up to $50,000 in coverage and the premium is not included in your gross income, and it is 100% deductible to your corporation

2. Achievement and Awards for Safety and Longevity -Sec 74. These awards have to be in writing and can be up to $1,600 each. In a family corporation, both the husband and wife could receive the awards annually. The wife might receive the Longevity Award because she has been with the company since its inception. The husband might receive the Safety Award because he maintains a safe work environment. These awards are tax free deductions for the company.

3.Health Insurance Sec 105. If you already have a health insurance program, the corporation can reimburse you for any expenses paid.. There is no dollar limit.

4. Insured Medical Plans 106. Your corporation can pay 100% of your medical plan. The amount is not included in your gross pay.

5.Meals and Lodging -Sec 119. When your meals and lodging are furnished by the employer (your corporation) and you are required to live in the house and eat on the premises, then they are paid for by the corporation as a business expense and are tax deductible. These are no limits to the amount spent for meals and lodging. Strict compliance with the code is necessary.

6. Dependent Care Sec 129.. Your corporation can provide you up to $5,000 a year for dependent care and it’s not part of your gross income.

7. Educational Assistance -Sec127. Your allotment is up to $5,250, and is not part of your gross income.

8.Seminars-Sec 162. Expenses (including meals and lodging) for business related seminars are 100% tax deductible to the corporation and are not included as part of your income.

9.Moving Expenses -Sec 217. All reasonable moving expenses except meals can be paid for and are not included in your gross pay.

10. Physical Fitness- Sec 132. You can have a physical fitness facility on your premises totally paid for by the corporation.

.

But the key is doing it right! It’s not about operating in the grey area. Some people can get very creative and figure: “Well, we’ll try it this year to see if we can get away with it.” But when the government and the IRS want to help you save on taxes, why not do it in the black and white area so that you can take full advantage of legitimate tax savings and be able to sleep at night?

The other thing that’s really great about the corporation is that it has so many different retirement plans available that you, as an individual, cannot take advantage of. You can put so much more money away in your retirement program through the corporation. There are qualified plans and unqualified plans depending on where you are and what you’re trying to do. So what you can save with a corporation is virtually endless.

Yet, I want to save you one last strategy to help you build lasting wealth. That’s our IRA Wealth System. This system let’s you utilize the incredible power of a self directed IRA to grow your retirement plan exponentially! It allows you to invest in tax certificates, real estate, foreclosures and other businesses right from your IRA and with our IRA Wealth System you retain checkbook control over your money! Let’s face it, the very best deals don’t last very long. So, if you’ve got to deal with a custodian to access your retirement money, you’ll lose the deal. With the IRA Wealth System, you can immediately write a check from your Retirement account and land yourself the best possible deals.

Some of these individual strategies will save you a small amount of money, some will save you much more. But, when you combine them together, you are building yourself a tax-saving machine that can save you a small fortune and help you build lasting wealth.

Ira Wealth

Drew Miles is an attorney, investor and successful businessman. Since retiring from the practice of law in 2001, he has dedicated his career to teaching others how to build and protect wealth for generations to come. To learn more about his programs, you can visit http//www.taxsavingconcepts.com or call Pathfinder Business Strategies, LLC at (888) 695-2765.

* For purposes of our illustration, we are assuming you can write off 100% of your expense. While this is not likely, it simplifies the illustration of the concept.

** August 2005



LANE

mualchon asked:

Very touching ad from Thai Life Insurance. Thx angelaaaaa for translation ^^.

WILLARD

Gerald Mason asked:


Investing in Forex is more risky but the gains that can be achieved are a lot larger than insurance, although insurance is a very good long term investment.

While there are innumerable kinds of life insurance available, they can be simplified into two general types: those that insure against death only and those that not only insure against death but make a provision for savings in addition to insuring. The first type is called term insurance.

It pays off only in the event of death. While it is worth nothing to the individual himself, since he never gets his hands on any of the money that went to pay the premiums, it does generally provide the maximum death benefits per dollar of premiums at the younger ages. Its sole purpose is to insure against death. As its name implies, it is written for a term-1, 5, 10, 20, 25 or 30 years-and if the term expires before the insured dies, that is that. There are no more premiums due and he gets nothing from the insurance company except the right to renew the policy for a longer term and/or the right to convert the policy to permanent insurance without a medical examination.

Policies other than term insurance cost more than term insurance initially and the additional premium provides essentially one thing savings for the person insured. Now the main question to answer from an investor’s point of view is, “What do I get for this additional premium in the way of a return on my money?”

If a ten-year term policy is purchased the average net cost per $1,000 is $3.91 per year, and if a 20-year term policy is purchased the average net cost is $3.82. It gradually goes down according to the length of the policy, but if term insurance were bought each year, for just one year, the annual rate would be higher with each renewal since the older a person is the greater the likelihood of his death.

If he waits until he gets to age 55 the cost of term insurance rises tremendously. A five-year term policy at age 55 costs $21.85 per $1,000 and a ten-year policy $23.26. Term insurance usually may be maintained only until the insured is age 65. Thus, if a man kept term insurance to age 65, but died at age 66, his beneficiaries would get nothing and all of the premiums he had paid for this insurance would go down the drain.

These policies all provide nothing in the way of savings and there is no return on your money that you, the insured, will ever get. Your beneficiaries will get the face of the policy at your demise.

In contrast to term insurance there is permanent insurance. This is insurance that may be kept as long as the insured wishes to keep it. If the insured lives, he has built up a substantial cash value in his policy which he may take in cash or as income or which he may leave with the insurance company as “paid up” insurance.

The most popular form of permanent life insurance is convertible whole life insurance, sometimes called ordinary life or straight life.

Convertible life requires the lowest premium of all permanent insurance plans. Premiums may be paid on this policy as long as the insured lives or for a shorter period of time depending upon the objective of the insured.

Permanent insurance has a level annual premium for the duration of the premium paying period. The annual premiums in the early policy years are in excess of the actual premium needed to cover the risk. The excess premium is called the reserve and it is this reserve, together with interest earned on the reserve plus future earnings, which provide the cash needed to pay death claims in the later years.

If we consider that the 20-year term rate is the pure cost of insurance, and that the difference between this rate and the straight life rate represents the savings element of his premiums, you determine this savings element by subtracting $3.82 from $17.70, which equals $13.88. Over 20 years this savings element amounts to $277.60. For this total of $277.60 put in in premiums, $403.94 was collected-a profit of $126.34 over 20 years, or $6.31 per year.

The $277.60 was not put in all at once, but over a period of 20 years. Nothing was invested at the beginning of the 20-year period, and in the twentieth year the whole sum was invested, so that the average investment for the period was halfway between nothing and $277.60-$138.80. The return on this figure is the true return, and $6.31 per year on $138.80 is a little under 5%.

Let us consider the Retirement Income policy at 65, bought by a person 25 years old. Over a period of 40 years, he puts in $30.92, the annual premium, times 40, or $1,236.80. If the average net cost of the pure insurance feature is assumed at $7.79 per annum and the cost is subtracted from the total annual premium of $30.92, we get the investment in the savings element of the insurance, $23.13 times 40, or $925.20. For these invested savings the insured gets back $2,326.81 at age 65-40 years later-a profit of $1,401.61.

If we use the same reasoning in regard to the average amount invested over the period (one half of $925.20), we arrive at an investment of $462.60. The profit or return per year is determined by dividing the total profit of $1,401.61 by 40 years and we get $35 per year. This $35 represents a return on the investment of $462.60, or 7½% per year.

How good an investment is this $462.60 that grows to $2,326.81 in 40 years? It is almost identical with an investment of $462.60 which returns 4% per year if the 4% is left in the investment to be compounded annually. The discrepancy between the 7½% per year and the 4% is explained by compounding.

The 4% compounded is not a bad yield. It is roughly equal to the return of an insured building and loan association in the year 1962, but not as good as the better yielding ones.

Now the characteristic of the Retirement Income policy is that premium payments end at age 65. The insured is now entitled to $2,326.81 if he left his dividends in.

Further, the insured can have his $1,597 (due him if he took his dividends out) paid to him and/or his heirs at the rate of about $10.00 per month for 157 months (a full refund). If he is still living at the end of the 157 months, the insured would continue to receive $10.00 per month for the balance of his lifetime.

If desired, an alternate amount or alternate type of annuity could be selected.

In addition to the guaranteed amounts, there would, of course, be dividend income payable each month in accordance with the company practice. The present income dividend is about 10% extra per month.

All of the above income would be tax-favored as compared to ordinary investment income.

The income or annuity return per $1,000 of accumulated cash in the insurance policy is guaranteed by contract as of the date of issue for future delivery. It is interesting to note that the cost of an annuity at 65 has been increased seven times in the last 20 years as the science of geriatrics has prolonged life.

There is one type of policy which represents the savings element alone and does not provide the insurance element. This is the annuity. You make a cash payment early in life, or periodic payments throughout your life, in order to get an income when you retire or pass a certain age.

At age 25, for an annual premium of $100 for 40 years, you can get (a) $8,201.47 in cash at age 65 or (b) monthly payments of $51.34 for the rest of your life.

You have invested in 40 years 40 times $100 or $4,000, and at age 65 this has grown to $8,201.47. It has better than doubled.

To find the average annual return, we determine the profit ($8,201.47 less $4,000) which equals $4,201.47 and divide this by 40 to get an annual profit of $105.

The average investment is halfway between zero and $4,000 and is equal to $2,000. The annual return is thus $105 divided by $2,000, or 5¼%. This represents considerably less than 4% compounded annually.

If the option of $51.34 per month is selected instead of the sum total of $8,201.47, it takes between 13 and 14 years to exhaust the total, and if you live longer than this number of years, you have come out ahead.

Most other policies provide savings, and the return on these savings is what we are concerned with here. While the yield on the savings is low it must be pointed out that by entering into an insurance contract the insured is forced to save what he might otherwise spend. A second advantage in buying policies other than term policies is that if the insured falls on hard times these policies are worth something in cash to help tide him over; and if he can’t keep up the premiums there is a cash reserve to pay premiums for awhile. If term insurance premiums cannot be met the policy lapses.

One insurance company took what it considered to be a typical year as regards death claims and determined what the insured’s family got back in relation to what was paid. It determined that the average insured who was paid off that year collected $1.75 for every $1.00 put into premiums, and the average number of years each policy had been in force at the time of death was 22.6. The return was 4% per year, and the insurance company points out that the 4% return was tax free in that no income tax was taken out either as the policy went along or when final payment was made. This 4% equals 8% in income for a person in the 50% tax bracket.

The return on the savings element of life insurance can be determined by reference to the attached table. The major types of policy have been compared for ages 25, 40 and 55 as to annual premium, value of the policy in cash at different ages and monthly payments which can be received from age 65 to the end of one’s life.

Two of the greatest benefits of life insurance depend on: (1) inheritance taxes and (2) the uncertainty as to when the insured will die. These factors are not related directly to return on investment but cannot be minimized in any consideration of life insurance.

Long term it is very difficult to lose money if not impossible and the returns can be good.

The Forex is more risky but you can limit your risk by using good Forex software.



BENNY

Mike Samadi asked:


(Copyrighted Material)

My dear readers, there is no such thing as “Foreclosure Rescuer”.  Those are scam.  Let’s analyze.

We live in a world that every lender wants to make some money from us (that’s how businesses exist and there is nothing wrong with it).  If our credit is D- through B  (meaning 500 to 780+ credit score), we are given some jacked up finance rate and high fees/cost (even by those wonderful lenders that I believe or recommend).  Now, do you think there are third party hole in the walls who want to help you by putting up their own money??!!. 

I do not trust even most reputable and large lenders; do you think I trust, smaller ones (such as Litton, AMC, GMAC, Ameriquest) and a long list of others (especially the whole in the wall)?  I do not talk without having facts.  I would love for the above list of names to sue me. 

When your credit is bad you will pay extra for fees and higher rate, that’s a fact.  If someone tells you otherwise, you must stay away from that person, because, he/she must have other intentions/plans.  There is no question about it.  Don’t be offended by lenders treating you as a disgruntled stepchild, because you put yourself into that credit position.  Please don’t blame everybody else because you did not want to accept responsibility when you were younger.

I am not trying to be a coldhearted, stupid or a senseless person who does not consider the fact that sometimes, creditors or collection agencies may/will be at fault.  But, I have seen enough credit reports and talked with hundreds of people who were telling me how innocent they were, only to learn the facts after reviewing their documents.  Again.  Please understand that mistake can take place by all parties in an agreement.

The difference between good credit and bad credit is, that with one, you: 

a.    will be welcomed to borrow and the other would worry creditors;

b.    get good-market finance rate, the other your rate will be much higher;

c.    get reduced fees, and no chance with the other;

d.    will get respect and with the other get brushed off in most cases.

That is why I repeatedly insist - keeping your credit in good shape.

Now, if the truly accredited lenders that have offices all over the country or at minimum in a few states can’t help you, why do you think a hole in a wall can?

Here are some ways to avoid these scammers.

When someone calls you with an offer,

a.    call your state attorney general’s office and get some information about the company.  See if there were any investigations, reports, etc.  You can get all the necessary information about those Attorney General’s offices (see the link in the Author’s Bio)

b.    Through the site above or through the state A.G.’s sites, you can also ask for the Secretary of State office to see if the company is registered and what type of business they do.

c.    You can also go to another page of the site (see link in Bio section) and contact other offices to see if they have any complaints or concerns about the company.

d.    If someone wants unreasonable amount of money from you in order to help you, you need to think again.

e.    Call a few bank managers in your area and share the offer made and ask if it sounds reasonable. 

f.    Call your State District Attorney’s office and see if any complaint was filed.

g.    If someone wants to take a large portion of your home equity, then there is something wrong.

h.    When a contract is given to you, BEFORE YOU SIGN, at the very least, have someone with more education than you (if you can NOT afford an attorney) read the fine prints, and see if it is truly good for you.  Show it to your law enforcement department.

Let me give you some other ideas.  You figure it out.  I may be mistaking!!  You think?!

Just during the past four months, I learned through friends that even repeatable lenders have been taking advantage of people who are suffering financially now.  If those do then, what should I expect from Litton, AMC and others.  AMC Mortgage charged a person -two sets of Foreclosure fees and added fees on the top of fees only to tell ME that, “because we have secured interest, we can charge any fees we want.”  REALLY??!!  When a certified letter was sent to the company president, it was tossed to the same person who made the comments.  When the second certified letter was sent to the company president, AMC tossed/sold the loan to Citi-Residential Mortgage.  Unfortunately, the company operates out of California (headquartered) and its parent company Ameriquest (California also) is not even responding.  When calls were made to the CA- Attorney General’s office, that office did not want to look into the matter.  First of all, what a shame that a public office (which its job is to protect its citizens) is not interested to even listen.

Let me give you the list of fees they charged so that you can analyze it for yourself, see what’s justified and what’s not. They are as follows:

On Sept. 14, 2007 Citi Residential Lending sent a letter to a borrower stating the following figures:

Principal Balance            $83,779.59

Expenses paid by Servicer        $16,443.33    ????

Unpaid Late Charges            $         0.00  after AMC charging so much

Other unpaid charges            $         0.00

Suspense Balance                 $  1,257.67 borrowers money put aside by lender when

the monthly mortgage of $735.00 was not paid.

Escrow                                       $     620.00  money to pay for taxes and insurance (OK)

Total amount of Debt:              $98,344.55 plus interest on the principal amount accrued

in arrears at the rate of 7.5% when the “market

mortgage rate” was around 5.75-6.25%)

On February 7, 2007, AMC Mortgage send and forced this family to sign a inflated “Mortgage Modification Agreement” which consists of Exhibit A showing the following items:  PLEASE PAY ATTENTION (THERE IS NO TYPO/MISTAKES HERE )

REINSTATEMENT AMOUNT GOOD THROUGH FEBRUARY 1, 2007:

2 payments @ $888.89                =$     1.777.78    (September 2005 through October 2005)

4 payments @ $888.87                =$    3,555.48    (November 2005 through February 2006)

2 payments @ $925.16                =$    1,850.32    (March 2006 through April 2006)

6 payments @ $948.54                = $    5,691.24    (May through October 2006)

3 payments @  $987.64                =$    2,962.92    (November 2006 through January 2007)

1 payment @ $987.64                    =$    987.64

Late fees:                                        =$    435.92

Appraisal:                                          =$    325.00

Foreclosure Fees:                           =$    540.00

Foreclosure Cost:                            =$    607.76

BPO Fees:     (broker price opinion) =$    105.00

Non-sufficient Funds Fees:             =$      43.14           

Escrow Shortage:                              =$    173.63

Property Inspection:                          =$    107.00

And the totals:…

Now let’s understand something.  The monthly payments based upon letters sent by AMC was around $735.00 and somehow it became inflated due to A NEW interest rate of 11.5%.  Moreover, when I spoke with Ms. Olivera (executive representative) on August 30, 2007, she stated:

“Foreclosure Fees” is        $1,080.00

“Foreclosure Cost” is         $   617.76

“Appraisal” was                   $   650.00 (very high for GA, SC, AL)

“BPO” was                            $   105.00  It is very difficult for me to understand that a

company gets two appraisal “A.K.A. Certified Opinion” in less than a year and still gets “Broker Opinion”

All because, the individual got hurt at his job and could not work (back injury) with no medical settlement.  Imagine that.

Another example is: Litton Loan Servicing charges some borrowers one set of fees for Escrow, yet pays amount a lot less to the Tax Commission’s offices or the insurance companies - and gets away with it (or at least it think it is going to).  Not to forget the method it applies payments or excessive lat fess it charges.

The moral of the story is:

This is a lot better than other “stuff” I have seen or called upon.  If you are getting over charged, you MUST at minimum let someone with more knowledge than YOU (in the area of financing) to look at the document before you sign and commit yourself to homeless shelters or mental hospitals.  If you can NOT afford a lawyer, a real-estate closing attorney (which will cost somewhere between $100.00 to $250.00) can review and give you advice.

As far as Foreclosure process.

Some states have “Judicial foreclosure” process and some don’t.

If you are not sure, do NOT ASSume.  You can call your state “Consumer Protection” or “Citizen Services” division of the State Attorney General’s office (see link in Bio section) and ask if the state is a “Judicial Foreclosure State”.  If the person does not know the term, then ask a simple question:  “Does the Foreclosure process have to go through a Court? Or it is that the lender can simply sell my house by first sending me a certified letter?”

The reason for knowing the process, is that one allows at least an educated person-a Judge (hopefully a fair and unbiased) here the case, and the other is that you are at the mercy of any bull the lender and its foreclosure attorney feeds you.

If you live in a none-judicial foreclosure state, the next question to the A.G.’s office should be: what process should a lender take.  How many certified letters, how many month before the proceedings begin, and some other questions that fits your category of what caused you to fall behind.  Ask questions, write the answers, get educated.

So whatever you do, please don’t hand your property to someone you don’t know.  A lot of people will become your friend to see what you have and what they can get (especially if you are retried, close to it or from old school). 

The New Schools of Scams teaches a lot better techniques than what you may heard.  This is the age of electronics and Internet.  Scammers are born every second with the help of Internet and electronic gadgets.  Your knowledge is NOT ENOUGH to know what’s out there.

As I said in my previous articles, Stay stupid and pay the price.

They say: it takes a minute to find a CRAZY person,

An hour to appreciate them,

A day to love them,

But then an entire life to forget them.

Thank you again.

With love and best wishes.

Mike Samadi

You can go to my website and post your questions and comments.  Your personal information will remain confidential and is NOT sold or shared with anyone else.



BOB

Kris Willy asked:


Misconception #1:

Co-insurance

Co-Insurance levels should be given careful analysis when buying insurance. A health insurance plan premium with an 80/20 or 20% co-insurance level is much higher typically than is a 50/50 or a 50% plan. Co-insurance or shared costs between the insured and the insurance company normally have stop losses or Maximum Out-Of-Pocket amounts to protect you against a catastrophic event. Make sure there is, and you know what the stop loss is on the plan you are looking at. Let’s further examine and break down co-insurance.

Example:

Health insurance plan A has a $2,000 deductible and is an 80/20 plan. (Meaning you co-insure 20% after your deductible of $2,000) Let’s say your stop loss (maximum out of pocket) is $3,000, (which means you’re total out of pocket would be $5,000 on this plan and the plan costs $380 per month for a family of 5.

On the other hand health insurance plan B has a $5,000 deductible but is a 100% plan. (Meaning you have no co-insurance after your deductible of $5,000) Your stop loss (maximum out of pocket) is zero after your deductible and this plan costs you $290 per month.

Both plans have 100% coverage after your stop loss, (maximum out of pocket) has been met.

Your stop loss (maximum out of pocket) for plan A would be $5,000 per year. ($2,000 deductible + $3,000 co-insurance).

Your stop loss (maximum out of pocket) for the plan B would be $5,000 per year as well. ($5,000 deductible + $0 co-insurance).

Your total risk “potential loss” or exposure would be $5,000 in any given year on either plan.

So in this example, on plan A you would be paying an extra $1,080 per year for the exact same out of pocket catastrophic exposure compared to plan B.

Wouldn’t it make more sense financially to select plan B as opposed to plan A? When it comes to choosing a health plan these are the things most people overlook, or fail to understand. When you choose Colorado Health Solutions to represent you, we will inform and educate you of these types of things to make sure you select the right plan at a price you can afford.

Misconception #2:

Deductibles

Health insurance companies will charge you a “fool’s premium” for a very low deductible. By “fool’s premium” we mean that to lower your deductible from say $2,000 to $500, they will charge you an additional $2,880 a year. So unless you manage to have a catastrophic event in the first 6 months of your plan, you will always be the loser. Look carefully at the cost for different deductibles and ask yourself a couple questions:

1) How much does it cost for the next lowest and the next highest deductible?

2) How many months will it take before you have lost the advantage of the lower deductible by paying the difference in premiums?

Of course you could wind up in the hospital next month and call me up with an “I told you so”. However, 99% of you will never reach your deductible. There is normally a trade off between costs and benefits and typically it’s represented graphically by a curve of “diminishing returns”.

Misconception #3:

Co-pays

A $20 doctor office co-pay is much more expensive than a $40 doctor office co-pay! How you ask? Let’s take a closer look.

Let’s assume that the premium associated with a $20 co-pay is an additional $174 per month in premium for a family of 4 when compared to a $40 co-pay. (This is a real scenario)

In this scenario you would be paying an additional premium of $174 per month ($2,088 per year) to protect yourself against a “potential loss” or exposure of $20 each time you visited the doctor’s office. To come out even with the $20 co-pay you’d have to visit the doctor about 105 times a year to come out even! Don’t pay a “fools premium” for benefits that are offset by increased premiums. It pays to do a little math when looking at cost versus benefits when purchasing health insurance. Again we can help you decipher this and choose the right plan.

We hope this will help you now or sometime in the future, what I tell my clients is this…You already pay enough for your health insurance, don’t pay more than you have to!

Health insurance carriers are coming out with new more affordable plans all the time, how will you know if one is right for you? Would your agent call you if there was one better suited for your needs? Most likely not! Most agents/brokers will only talk to you if there is something in it for them! We here at Colorado Health Solutions have a completely different attitude and approach, if there is something that becomes available best suited for you and your family we will let you know!

There has been a new major medical plan that was just released that is on average 20-40% less than many of the other carriers. If you’d like to get a quote on this plan to either get health insurance or lower your premiums just visit our website today, we’d be happy to help. Again, don’t pay more than you have to when it comes to your health insurance!

Regards,

Your Colorado Health Solutions Team

www.ColoradoHealthSolutions.com



CHUCK

Shlo asked:


This company who’s headquarters is in California, is charging about 45 dollars a month for insurance, but if you work out of state, anywhere else, it is 105.00. This is the same position with the company despite the price difference. Is this employee fairness? Is this legal? Thanks!

AUBREY