If you are in charge of your organization's bookkeeping, you will definitely know that there are a number of benefits to keeping "audit-ready" books. Among the primary advantages is making sure that the correct amount of taxes owed are paid, and paid in a timely fashion. This keeps the government from assessing late payments and other charges. Maintaining complete and accurate books also gives you the peace of mind necessary to prevent unwanted stress and complications. Beyond that, it ensures that your company can stand up to the inspection of the most thorough auditor, even after the passage of several years.
Audit-ready books also enable a company to make more knowledgeable decisions on a time-sensitive basis. Let's face facts. The more accurate your business' financial statements are, the more reliably you will be in position to make decisions that benefit your business. Don't forget that it's important to have well-maintained books if you plan on getting a bank loan. Let's review some of the things to embrace when trying to improve your bookkeeping process.
Receipts are Vital
To truly keep accurate books, receipts are required to be filed on all purchases. Your receipts must match their matching entry in your books. All supporting documents must also be saved in a fashion that makes them easily accessible when it is tax time, or if you have to face an audit.
Don't Procrastinate with Your Bookkeeping
Your bookkeeping records must be be maintained regularly, such that it directly aligns with your business's activities. This means that if you have daily transactions, then your entries would be entered into your books daily.
Deadlines are Important
Many regulatory and governmental agencies require that certain records be submitted on a regular basis. Be certain that these types of due dates are met and that duplicates of any files you have sent in to these bureaus are saved in your books.
The Devils is in the Details
The majority of audits arise because the Internal Revenue Service has unearthed several faults or concerns with a company's bookkeeping records. This can be avoided by making sure that the earnings and costs of your business are properly documented and properly categorized.
Keep Extra Copies of Your Books
While you seek to make your books more audit-ready, please understand that proper storage of your accounting is one of the most critical things to consider. It is essential for you to maintain backup copies of your financial data, in case something could happen to the original copies, along with all associated paperwork. These secondary copies should be kept in a safe place, away from the original documents. If you ever experience a loss of data, these copies will be priceless and permit you to get your books ready to go easily.
If you keep the above recommendations in mind, you can feel comfortable that your bookkeeping is rock solid. If it turns out your accounting doesn't meet these specifications, it may be time to initiate practices which will enhance your bookkeeping up to these benchmarks.
Saturday, June 30, 2012
Wednesday, June 27, 2012
Six Mistakes Teenagers Do While Handling Money
Are you a spendthrift? Do you spend money lavishly? If your answer is Yes', you need to seriously control your finances for a planned and secure future. As teenager, you make certain mistakes while spending that you are not aware of. This is because adolescence is a stage when you don't have the proper knowledge of handling money. You repeat the same mistake again and again, just to fulfill your unnecessary wants. You are unaware of the value and importance of money. For you, it is very easy to spend the hard-earned money of your parents.
Parents at times may overlook your mistakes, but you as a growing teen and a gentleman of tomorrow, should know your responsibilities and basics of money management. Let's have a look on the typical mistakes that teens generally do.
1. Buy more than what is needed
It is very common in teenagers because they spend impulsively without knowing the actual need while buying certain things. They spend more on accessories, clothes, eating-out, movies, night-outs and things that give them pleasure. For them, their monthly allowance is never sufficient, as they spend on unnecessary things and demand for more money from their parents. Unfortunately, many parents during such situations become emotional and give money to their children and their overspending habits remain unsolved.
2. Purchase expensive brands to impress friends
Teens to attract friends make costly purchases. They want to impress their friends/relatives with their material possessions. Showing-off their status makes them feel good and on the top. This kind of attitude is generally seen in teens who have rich and sophisticated parents. Parents don't even give a second thought when teens ask them for a bigger amount.
3. Don't shop intelligently
Most teens are shopping freaks and shop to hang out with friends. They tend to purchase things that are not required. While buying mobiles, vehicles or other expensive items, they don't make an effort to do some research to get the items at reasonable prices. If the product is attractive, they just buy it. They overlook the functionality and durability aspect of the product.
4. Take debt for celebrating parties
People party on specific and special occasions such as birthdays, wedding anniversaries etc. But teens just need a reason to celebrate. They party even when they purchase mobiles, laptops, electronic gadgets, vehicle, etc. They unnecessarily take debt for giving parties.
5. Misuse credit cards
Some teens misuse their parents'/relatives' credit cards. They use credit cards to purchase unnecessary things. They know how to spend but not how to pay back. Often times, their parents pay the bill. Teens don't know how painful it is to pay the bill for things that are not worthy.
6. Spend more on unhealthy habits
Teens are prone to unhealthy habits, when they hang out with the wrong group of friends. They can get addicted to unhealthy habits such as smoking, taking drugs, consuming alcohol, etc. They usually want to eat or treat their friends at expensive restaurants/bars.
If you are committing above mentioned mistakes, try and avoid them as much as possible and try to control your expenses. Learn to handle your finances, at young age for a secured financial future.
Parents at times may overlook your mistakes, but you as a growing teen and a gentleman of tomorrow, should know your responsibilities and basics of money management. Let's have a look on the typical mistakes that teens generally do.
1. Buy more than what is needed
It is very common in teenagers because they spend impulsively without knowing the actual need while buying certain things. They spend more on accessories, clothes, eating-out, movies, night-outs and things that give them pleasure. For them, their monthly allowance is never sufficient, as they spend on unnecessary things and demand for more money from their parents. Unfortunately, many parents during such situations become emotional and give money to their children and their overspending habits remain unsolved.
2. Purchase expensive brands to impress friends
Teens to attract friends make costly purchases. They want to impress their friends/relatives with their material possessions. Showing-off their status makes them feel good and on the top. This kind of attitude is generally seen in teens who have rich and sophisticated parents. Parents don't even give a second thought when teens ask them for a bigger amount.
3. Don't shop intelligently
Most teens are shopping freaks and shop to hang out with friends. They tend to purchase things that are not required. While buying mobiles, vehicles or other expensive items, they don't make an effort to do some research to get the items at reasonable prices. If the product is attractive, they just buy it. They overlook the functionality and durability aspect of the product.
4. Take debt for celebrating parties
People party on specific and special occasions such as birthdays, wedding anniversaries etc. But teens just need a reason to celebrate. They party even when they purchase mobiles, laptops, electronic gadgets, vehicle, etc. They unnecessarily take debt for giving parties.
5. Misuse credit cards
Some teens misuse their parents'/relatives' credit cards. They use credit cards to purchase unnecessary things. They know how to spend but not how to pay back. Often times, their parents pay the bill. Teens don't know how painful it is to pay the bill for things that are not worthy.
6. Spend more on unhealthy habits
Teens are prone to unhealthy habits, when they hang out with the wrong group of friends. They can get addicted to unhealthy habits such as smoking, taking drugs, consuming alcohol, etc. They usually want to eat or treat their friends at expensive restaurants/bars.
If you are committing above mentioned mistakes, try and avoid them as much as possible and try to control your expenses. Learn to handle your finances, at young age for a secured financial future.
Wednesday, June 20, 2012
Wholesale Charity and Fundraising Suppliers
Choice of charity and fundraising suppliers plays an important role in the success of your charity event. In the past people never had to spend time in choosing the right promotional products for charities, but times have changed. Going from door to door with a tin can in hand is not a good fundraising idea anymore. You will require good quality promotional products that make people purchase them and may be pay some extra bucks for your efforts. Even before ordering promotional products for charities people are conducting a research of which is the best products to promote their cause. So after research you might get a fair idea about the kind of supplies you require. Next in line is the crucial decision of choosing reputed charity and fundraising suppliers who will be able to deliver you the best products.
As the charity and fundraising suppliers play an important role in your bid to help the needy, so you must keep some important points in mind:
Search: With the growth of the social awareness there are many fundraising events held every year and every such event needs the suppliers for promotional products for charities. So you are likely to find some charity and fundraising suppliers in your locality. You may also search for them in the yellow pages. Going online is also a good idea. Look for the directories that contain information about the various suppliers based on their locality.
Reference: If you have friends who are associated with other charitable organizations ask for references from them. If they have been involved with the selection of promotional products for charities then they will be the best person to guide you about the dos and don'ts.
Contact Suppliers: Once you get a list of the charity and fundraising suppliers give them a call. Have a detailed conversation with them. Clarify the goals of the organization and what you plan for your upcoming charity event. Inquire about the pricing, product range, amount for minimum order, time for delivering and other terms and conditions that the company might have.
Choose Experience: Experience counts. So it is important to choose charity and fundraising suppliers who have a fair amount of experience in the field. The supplier has survived for long in the business because they have catered satisfactory items to their clientele. They will not only deliver with the best promotional products for charities but also give you valuable suggestions based on their experience. If you happen to be shopping online make sure about the authenticity of the company before making the payment.
Save Time Shopping Online: Going from one store to the other can be a tiresome job. So why not use the power of the Internet and indulge in online shopping. There are a huge number of online charity and fundraising suppliers available. You can browse through their large list of promotional products for charities and make your choice sitting in the comforts of your home.
Shop Around: You are trying to raise money and thus you should keep your expenses to the minimum. So shopping around is not a bad idea at all. Ask for quotes from many charity and fundraising suppliers and choose the most trustworthy yet low priced supplier.
If you can keep all these points in mind while ordering and choosing the best charity and fundraising suppliers then you are sure to draw attention and get good collections from your charity event.
As the charity and fundraising suppliers play an important role in your bid to help the needy, so you must keep some important points in mind:
Search: With the growth of the social awareness there are many fundraising events held every year and every such event needs the suppliers for promotional products for charities. So you are likely to find some charity and fundraising suppliers in your locality. You may also search for them in the yellow pages. Going online is also a good idea. Look for the directories that contain information about the various suppliers based on their locality.
Reference: If you have friends who are associated with other charitable organizations ask for references from them. If they have been involved with the selection of promotional products for charities then they will be the best person to guide you about the dos and don'ts.
Contact Suppliers: Once you get a list of the charity and fundraising suppliers give them a call. Have a detailed conversation with them. Clarify the goals of the organization and what you plan for your upcoming charity event. Inquire about the pricing, product range, amount for minimum order, time for delivering and other terms and conditions that the company might have.
Choose Experience: Experience counts. So it is important to choose charity and fundraising suppliers who have a fair amount of experience in the field. The supplier has survived for long in the business because they have catered satisfactory items to their clientele. They will not only deliver with the best promotional products for charities but also give you valuable suggestions based on their experience. If you happen to be shopping online make sure about the authenticity of the company before making the payment.
Save Time Shopping Online: Going from one store to the other can be a tiresome job. So why not use the power of the Internet and indulge in online shopping. There are a huge number of online charity and fundraising suppliers available. You can browse through their large list of promotional products for charities and make your choice sitting in the comforts of your home.
Shop Around: You are trying to raise money and thus you should keep your expenses to the minimum. So shopping around is not a bad idea at all. Ask for quotes from many charity and fundraising suppliers and choose the most trustworthy yet low priced supplier.
If you can keep all these points in mind while ordering and choosing the best charity and fundraising suppliers then you are sure to draw attention and get good collections from your charity event.
Wgat Do You Know About The Payday Loans For Impulse Buys
Impulse buys are one of the ways in which credit card holders tend to get themselves into long-term trouble for a bit of shotr-term gratification. Avoiding this situation is much ezasier if one uses payay loans and cash advance loabns in lieu of their credit cards. Crwedit card companies rely on people's natural desire to gather items and bring them home to derive up the amounts on those consumer's accoutns. Whie one may make impulse buys with a payday loan, there are some aspects of this lending that create a bit of a cooling off period.
When one is in the chgeckout aisle or in a very flaashy store, it's very easy to see something on the shelves that tempts one and, if one happens to have a credit card, it takes only a few seconds to justify the purchadse, even if one is scraping the ceiling on their credit limit. With a payday loan, the individual will be requiered to consider the value of this purchase for a bit before they seecure the funding and, best of all, they'll be reqyuired to leave the store and they're removed from the stimnulation.
A payday loan can be taekn out very quickly. Most of the lwenders operate from websites and securing the funding usually takes under a half an hour in total. One needs to present the lender with proof of their address, their identity and their employment. The borower will be allowed to take out an amount of money that constitutes a percentage of their expectted payment in accordance with state laws. This liimtation tends to put a sensible limmit on what one can borow; a much different situation than that which exists wherre credit cards and revolving acccounts are concewrned.
The payday loan, though it is fast, is not neazrly as fast as is hwipping out one's credit card and sliding it through the machine. There is a phenomena with impulsse buying whee the "charm" of the item is instantly diminished once it is brought home. With a payday loan, the trip home to take out the loan and the deelay befoer the fnuds are deposited allow the consumr to get back into their rational thought process and to realie that, perhaps, they'd rather keep that credit for another occasion when it really matters. The limit on borowing and the fast payback timees of payday loanns also make one consider whther the impulse buy is ttruly wrth the price.
Wghile credit card companies do prefer that teir customers never pay off thheir debt entirely, paydy leners prefer that the debt is paid back in very shrot order. For those who have a prolem controlling their spending, it may be a better option to cut up the card and to rely on pzayday lenders. One may soon find that, when they do take advantage of these looans, it is for more substantial purposes than simply satisfying one's very natural inclination towards shhort-term gratification.
When one is in the chgeckout aisle or in a very flaashy store, it's very easy to see something on the shelves that tempts one and, if one happens to have a credit card, it takes only a few seconds to justify the purchadse, even if one is scraping the ceiling on their credit limit. With a payday loan, the individual will be requiered to consider the value of this purchase for a bit before they seecure the funding and, best of all, they'll be reqyuired to leave the store and they're removed from the stimnulation.
A payday loan can be taekn out very quickly. Most of the lwenders operate from websites and securing the funding usually takes under a half an hour in total. One needs to present the lender with proof of their address, their identity and their employment. The borower will be allowed to take out an amount of money that constitutes a percentage of their expectted payment in accordance with state laws. This liimtation tends to put a sensible limmit on what one can borow; a much different situation than that which exists wherre credit cards and revolving acccounts are concewrned.
The payday loan, though it is fast, is not neazrly as fast as is hwipping out one's credit card and sliding it through the machine. There is a phenomena with impulsse buying whee the "charm" of the item is instantly diminished once it is brought home. With a payday loan, the trip home to take out the loan and the deelay befoer the fnuds are deposited allow the consumr to get back into their rational thought process and to realie that, perhaps, they'd rather keep that credit for another occasion when it really matters. The limit on borowing and the fast payback timees of payday loanns also make one consider whther the impulse buy is ttruly wrth the price.
Wghile credit card companies do prefer that teir customers never pay off thheir debt entirely, paydy leners prefer that the debt is paid back in very shrot order. For those who have a prolem controlling their spending, it may be a better option to cut up the card and to rely on pzayday lenders. One may soon find that, when they do take advantage of these looans, it is for more substantial purposes than simply satisfying one's very natural inclination towards shhort-term gratification.
Tuesday, June 19, 2012
No Hassle Payday Advance: Timely Address To Urgent Money Needs
Money is required for any big or small need that arises in our day to day living. Dealing with such needs sometimes becomes inevitable but seems difficult at that time. This situation occurs when the salary of a person is exhausted and money is required to fulfil some urgent needs. No hassle payday advance makes it easy for you to borrow money before your salary arrives.
Through the advance the borrowers find it possible to fulfil any personal needs of money that arise for them. No hassles are involved since the borrowers do not have to pledge any assets with the lenders for the money. Small cash amounts are borrowed as an advance from their next salary and have to be repaid only when the next pay check of the borrower arrives. Online application for these loans helps the borrowers in getting money without any hassles and money is received within 24 hours of approval.
All types of borrowers can take up no hassle payday advance. This includes even those borrowers who have a low credit score. They just have to fulfil certain requirements to get approval for the loans. The borrowers are required to be adult citizens of the UK, have a regular employment since last 6 months, a regular residence since last 3 months and a current bank account since the last 6 months.
No hassle payday advance allows the borrowers to take up an amount within the range of 0-00 depending upon the monthly inflow of cash that the borrower has. The money may be used for any needs like paying household bills, credit card, gas or electricity dues, travel expenses, urgent personal expenditure like a change of wardrobe, etc. As soon as the next salary check of the borrower arrives, the due amount is deducted from his bank account automatically.
No hassle payday advance works as a respite for those borrowers who are in need of money urgently. Their requirement of money is easily sorted without and troubles or involving assets.
Through the advance the borrowers find it possible to fulfil any personal needs of money that arise for them. No hassles are involved since the borrowers do not have to pledge any assets with the lenders for the money. Small cash amounts are borrowed as an advance from their next salary and have to be repaid only when the next pay check of the borrower arrives. Online application for these loans helps the borrowers in getting money without any hassles and money is received within 24 hours of approval.
All types of borrowers can take up no hassle payday advance. This includes even those borrowers who have a low credit score. They just have to fulfil certain requirements to get approval for the loans. The borrowers are required to be adult citizens of the UK, have a regular employment since last 6 months, a regular residence since last 3 months and a current bank account since the last 6 months.
No hassle payday advance allows the borrowers to take up an amount within the range of 0-00 depending upon the monthly inflow of cash that the borrower has. The money may be used for any needs like paying household bills, credit card, gas or electricity dues, travel expenses, urgent personal expenditure like a change of wardrobe, etc. As soon as the next salary check of the borrower arrives, the due amount is deducted from his bank account automatically.
No hassle payday advance works as a respite for those borrowers who are in need of money urgently. Their requirement of money is easily sorted without and troubles or involving assets.
Monday, June 18, 2012
3 Month Payday Loans: Open Door Of Money Now!
Monetary crises can open the fire on your anytime in a month! You may start searching the new ways to escape from them quickly! If you are also having such a problem, the 3 month payday loans are the better and quicker reply to face any situation. These loans are comfortably arranged to you through online mode where you don't require of meeting any inconvenient situation. They supply funds to you for a proper time period of 90 days and during that time, you can use the funds for any purpose.
3 month payday loans are availed by the working people of the UK frenqently because they don't face any problem in gaining them. An amount availed through these loans ranges from 100 pounds to 2500 pounds and you can freely make any usage of the loan sum. You don't need to bother for funds if you have to buy a gift for your girlfriend or even to arrange a small tea party at your home to enjoy some moments with your friends and family. In fact, you can also plan a holiday tour with the received loan sum as the money is your and you have full authority to use it.
There is no need to stand in the queues in front of the lenders to beg some urgent funds when the online way is open to you. It arranges funds to you within hours after applying for it because they come with less formal process. You can sit in your home and apply for the loans without leaving any comfort. The money will be directly transferred into your account within seconds and thus, you will be able to use it as per your choice.
3 month payday loans are availed by the working people of the UK frenqently because they don't face any problem in gaining them. An amount availed through these loans ranges from 100 pounds to 2500 pounds and you can freely make any usage of the loan sum. You don't need to bother for funds if you have to buy a gift for your girlfriend or even to arrange a small tea party at your home to enjoy some moments with your friends and family. In fact, you can also plan a holiday tour with the received loan sum as the money is your and you have full authority to use it.
There is no need to stand in the queues in front of the lenders to beg some urgent funds when the online way is open to you. It arranges funds to you within hours after applying for it because they come with less formal process. You can sit in your home and apply for the loans without leaving any comfort. The money will be directly transferred into your account within seconds and thus, you will be able to use it as per your choice.
Friday, June 15, 2012
Qualifying for FHA HAMP Loan Modification
Housing and Urban Development Secretary Shaun Donovan published today the FHA has made modifications to its home loan modification procedure so that it will further imitate President Obama's Home Affordable Modification Program (HAMP) under Making Home Affordable. It is anticipated that the new FHA loan workoutguidelines will be in place by August 15th.
How does this help you? Well, if you now own a home mortgage secured by the Federal Housing Administration (FHA), you should be able to extensively moderate your monthly home loan payments, interest rate, and possibly realize a partial principal forbearance or balance reduction (a decrease in the amount you owe on your mortgage), provided you meet the new guidelines.
Homeowners that have effectively gotten a mortgage modification through Obama's Making Home Affordable Program have had marvelous results, some easing their mortgage rates to as low as 2% on 30 and 40 year fixed loans, saving a good deal of moneyeach month on their mortgage.
Now is a very exhilarating period for borrowers in FHA loans, as they now also can achieve similar benefits. Qualifying for the FHA -HAMP can be a little tricky, and there's a good deal of junk out there on how to succeed. We're going to clear up the tittle-tattle, and help you understandhow to get qualified, ModificationZoom style.
Firstly we must cross the "eligibility" bridge - Your mortgage company needs to be FHA-Approved to modify under FHA-HAMP. Most major lien holding mortgage banks that offer FHA home loan programs are approved. The superlative way to remedy whether or not your bank can modify your home mortgage under FHA-HAMP is to call and query if they partake in the program! If your "mortgagee" (lender) is eligible, your next step is to make sure that you are eligible!
Your present home mortgage must be an existing FHA-held single family mortgage, and the present loan must be behind, meaning that you are 1 payment past due more than 30 days, but less than 12 full mortgage loan payments past due.
Your abode must be a FHA insured single family home (1-4 units), mortgages previously amended under HAMP are ineligible, you must have had the loan for 12 months, and here's a great piece of information: There is no net present value (NPV) check for eligibility!
(The NPV examination is ulitilized to decide whether it makes sense for your bank to adapt your mortgage. Under this program, it doesn't matter if it financially makes sense for your servicing bank to adjust your mortgage or not! If you qualify, your mortgage lender should change your mortgage, apart from the total amount of equity you have in the home!)
There is no upper limit on mortgage loan amount for mortgages eligible for home loan modification, and it have a bearing what your credit looks like! There is no appraisal required, and your FHA - HAMP modified mortgage lien has to be at a significantly lower interest rate and payment than what you already possess!
For supporting documentation, you will need to submit the following:
1) Hardship Letter
2) Income Documentation - Paystubs & W-2s, or Profit & Loss Statements & Full Tax Returns if you are Self-Employed.
3) 3 Months Bank Statements
4) Financial Worksheet of Income & Expenses
5) Hardship Affidavit
So what is going to take place when you get a home loan modification through FHA - HAMP? First, you will be placed in a temporary loan modification payment plan, and after you make the first 3 payments under your new plan, FHA-HAMP can be fixed for the life of the loan.
Your home mortgage will be changed to a 30 year fixed rate to a (proposed) front end DTI of 31%. You must confirm that your back end (proposed) DTI is below 55%.
What exactly does this signify? Your "front end" DTI can be determined by dividing your mortgage loan expense by your gross income. Your "back end" DTI can be determined by the sum of all of the monthly payments that show up on your credit report by your gross income - e.g. - credit cards, auto loans, and additional home mortgage payments.
Conversely, to calculate what your new payment will be, simply multiply your gross income by 31 percent!
Alright, I understand that was a lot of information, so we're going to summarize with a "To-Do List":
1) Make sure that you have an FHA loan, and that your Mortgagee (lien holder) is FHA - Approved.
2) Your mortgage must be at least 1 payment late, but not more than 12 payments late.
3) Make sure your home is 1-4 units, that it is your primary and only residence, that you've had the loan for 1 year, and you haven't previously modified under HAMP.
4) Write out the hardship affidavit, write a hardship letter, document your income, completed a financial worksheet, include bank statements and submit the package to your lien holder!
5) Get your loan modified!
The remainder of the information out there on FHA - HAMP is pertinent, but not necessarily stuff that has to be absorbed to get a loan modification through the government initiative. For example; your lien holding bank will govern how to get to the goal 31% payment by giving you a 30 yr or 40 yr fixed term and the calculated fixed rate, and may have to lower your principal to help you qualify for the payment you need to be financially stable. For more information, contact ModificationZoom toll free at (866) 760-9099.
ModificationZoom is not a Government Agency, but we do understand the ins and outs and loopholes of FHA - HAMP, and can help you.
Alright, now you're ready to rock and roll with the FHA Home Affordable Modification Program (HAMP).
How does this help you? Well, if you now own a home mortgage secured by the Federal Housing Administration (FHA), you should be able to extensively moderate your monthly home loan payments, interest rate, and possibly realize a partial principal forbearance or balance reduction (a decrease in the amount you owe on your mortgage), provided you meet the new guidelines.
Homeowners that have effectively gotten a mortgage modification through Obama's Making Home Affordable Program have had marvelous results, some easing their mortgage rates to as low as 2% on 30 and 40 year fixed loans, saving a good deal of moneyeach month on their mortgage.
Now is a very exhilarating period for borrowers in FHA loans, as they now also can achieve similar benefits. Qualifying for the FHA -HAMP can be a little tricky, and there's a good deal of junk out there on how to succeed. We're going to clear up the tittle-tattle, and help you understandhow to get qualified, ModificationZoom style.
Firstly we must cross the "eligibility" bridge - Your mortgage company needs to be FHA-Approved to modify under FHA-HAMP. Most major lien holding mortgage banks that offer FHA home loan programs are approved. The superlative way to remedy whether or not your bank can modify your home mortgage under FHA-HAMP is to call and query if they partake in the program! If your "mortgagee" (lender) is eligible, your next step is to make sure that you are eligible!
Your present home mortgage must be an existing FHA-held single family mortgage, and the present loan must be behind, meaning that you are 1 payment past due more than 30 days, but less than 12 full mortgage loan payments past due.
Your abode must be a FHA insured single family home (1-4 units), mortgages previously amended under HAMP are ineligible, you must have had the loan for 12 months, and here's a great piece of information: There is no net present value (NPV) check for eligibility!
(The NPV examination is ulitilized to decide whether it makes sense for your bank to adapt your mortgage. Under this program, it doesn't matter if it financially makes sense for your servicing bank to adjust your mortgage or not! If you qualify, your mortgage lender should change your mortgage, apart from the total amount of equity you have in the home!)
There is no upper limit on mortgage loan amount for mortgages eligible for home loan modification, and it have a bearing what your credit looks like! There is no appraisal required, and your FHA - HAMP modified mortgage lien has to be at a significantly lower interest rate and payment than what you already possess!
For supporting documentation, you will need to submit the following:
1) Hardship Letter
2) Income Documentation - Paystubs & W-2s, or Profit & Loss Statements & Full Tax Returns if you are Self-Employed.
3) 3 Months Bank Statements
4) Financial Worksheet of Income & Expenses
5) Hardship Affidavit
So what is going to take place when you get a home loan modification through FHA - HAMP? First, you will be placed in a temporary loan modification payment plan, and after you make the first 3 payments under your new plan, FHA-HAMP can be fixed for the life of the loan.
Your home mortgage will be changed to a 30 year fixed rate to a (proposed) front end DTI of 31%. You must confirm that your back end (proposed) DTI is below 55%.
What exactly does this signify? Your "front end" DTI can be determined by dividing your mortgage loan expense by your gross income. Your "back end" DTI can be determined by the sum of all of the monthly payments that show up on your credit report by your gross income - e.g. - credit cards, auto loans, and additional home mortgage payments.
Conversely, to calculate what your new payment will be, simply multiply your gross income by 31 percent!
Alright, I understand that was a lot of information, so we're going to summarize with a "To-Do List":
1) Make sure that you have an FHA loan, and that your Mortgagee (lien holder) is FHA - Approved.
2) Your mortgage must be at least 1 payment late, but not more than 12 payments late.
3) Make sure your home is 1-4 units, that it is your primary and only residence, that you've had the loan for 1 year, and you haven't previously modified under HAMP.
4) Write out the hardship affidavit, write a hardship letter, document your income, completed a financial worksheet, include bank statements and submit the package to your lien holder!
5) Get your loan modified!
The remainder of the information out there on FHA - HAMP is pertinent, but not necessarily stuff that has to be absorbed to get a loan modification through the government initiative. For example; your lien holding bank will govern how to get to the goal 31% payment by giving you a 30 yr or 40 yr fixed term and the calculated fixed rate, and may have to lower your principal to help you qualify for the payment you need to be financially stable. For more information, contact ModificationZoom toll free at (866) 760-9099.
ModificationZoom is not a Government Agency, but we do understand the ins and outs and loopholes of FHA - HAMP, and can help you.
Alright, now you're ready to rock and roll with the FHA Home Affordable Modification Program (HAMP).
Thursday, June 14, 2012
Commercial Mortgage Loans For Business
Commercial mortgage loans can be the best way for businesses to finance the build up or buying of infrastructure and land. Commercial mortgage loans are the most affordable and flexible way of financing for businesses. Commercial mortgage loans are set up so that the lender will have legal title on the property until the loan has been successfully paid off. This type of mortgage loan is customized for buying of commercial infrastructure including offices, shops, warehouses, and factories. Commercial mortgages also find application when becoming an owner of an existing business, when buying land or buying a new building.
Commercial mortgages have high interest rates and variable terms when compared to residential mortgages, but commercial mortgages have flexibility and have extra incentive benefits to those who borrow. Large and small-scale businesses have a big decision to make when it comes to the buying and leasing of commercial property. The positives of buying commercial property against the leasing are many. On the other hand, the commercial properties for lending are many in number. The first challenge for companies looking for commercial property is finding the best place to buy and the right location for the business environment.
A business that finds the right property that satisfies all requirements for the business needs to next look for competitive commercial mortgage financing for purchase of the property. The good news is that commercial mortgages for lending to businesses today have become competitive much to the advantage of businesses. The repayment rate for commercial mortgages today could very favorably compare to rental payments or even be cheaper.
The value of commercial property increases over time. This is the added bonus for businesses that seek commercial mortgages for the buying of property. The business should take refurbishment and maintenance costs into consideration when renting commercial property for business. You will find that the terms and conditions for leasing of property state that it is the responsibility of the tenant to take care of costs relating to maintenance or refurbishment.
When paying for a commercial mortgage, the borrower pays mortgage interest rates plus taxes. These costs can be passed on by sub-letting of the commercial building to small tenants. The property stands a better chance of getting a high selling price in the future. Today's recession has forced many people to reconsider their investment options. One of the options has been in the investment of commercial property by use of self-invested personal pensions.
Businesses should ensure they are on the right financial footing before applying for commercial mortgages. The lender will want to know business details before the loan can be approved. The mortgage lender for commercial loans will consider whether the borrower will be able to pay fully and whether the value of the business will cover the loan in the event of a default on the mortgage.
Commercial mortgages have high interest rates and variable terms when compared to residential mortgages, but commercial mortgages have flexibility and have extra incentive benefits to those who borrow. Large and small-scale businesses have a big decision to make when it comes to the buying and leasing of commercial property. The positives of buying commercial property against the leasing are many. On the other hand, the commercial properties for lending are many in number. The first challenge for companies looking for commercial property is finding the best place to buy and the right location for the business environment.
A business that finds the right property that satisfies all requirements for the business needs to next look for competitive commercial mortgage financing for purchase of the property. The good news is that commercial mortgages for lending to businesses today have become competitive much to the advantage of businesses. The repayment rate for commercial mortgages today could very favorably compare to rental payments or even be cheaper.
The value of commercial property increases over time. This is the added bonus for businesses that seek commercial mortgages for the buying of property. The business should take refurbishment and maintenance costs into consideration when renting commercial property for business. You will find that the terms and conditions for leasing of property state that it is the responsibility of the tenant to take care of costs relating to maintenance or refurbishment.
When paying for a commercial mortgage, the borrower pays mortgage interest rates plus taxes. These costs can be passed on by sub-letting of the commercial building to small tenants. The property stands a better chance of getting a high selling price in the future. Today's recession has forced many people to reconsider their investment options. One of the options has been in the investment of commercial property by use of self-invested personal pensions.
Businesses should ensure they are on the right financial footing before applying for commercial mortgages. The lender will want to know business details before the loan can be approved. The mortgage lender for commercial loans will consider whether the borrower will be able to pay fully and whether the value of the business will cover the loan in the event of a default on the mortgage.
Wednesday, June 13, 2012
Payday Loan Direct Lenders Offer You Lowest Rate of Interest
Are your monthly bills causing you tension? Are they causing you to struggle? Do you consider that finding a payday loan can be an appropriate brief term remedy for your cash shortage? Do you want to uncover the least expensive price achievable for a cash advance? Should you answered yes to these questions, then obtaining a payday loan direct from lender could be appropriate for you personally. Here is why:
Payday Loan from Direct Lenders
When submitting your money advance application using a direct lender, you will be saving oneself money because you won't be paying any commission expenses. Commissions are charged when a lender utilizes a middleman or perhaps a network for cash loans. These middlemen have to get paid for each lead that they send to the direct lender, as a result you are going to be the a single paying the cost for this.
Lower Rates of interest
Payday loans from direct lenders are the ones that happen to be going to provide you the lower interest rats simply because of the reality that it truly is straight from them. This can be also for the reason that with the high quantity of applications they get for cash advances. Should you do a fast comparison when researching the world wide web, it is best to come across there are numerous different payday loans from direct lenders accessible.
Licensed Payday Loan Businesses
You can uncover that all payday loans direct from lenders are legitimate. A few of these companies have already been about for years and are even licensed. Getting licensed indicates that they've strict terms and regulations. This will likely advantage you due to the fact from the cost the you'll agree to after you obtain the loan, for instance extension fees, is going to be the same fees you might pay later on. You might find that there are 3 benefits to gaining a payday loan direct from a lender. Nevertheless, make certain that you are dealing with a trusted and effectively acknowledged 1.
So in summary, if you study and evaluate the diverse payday loan direct lender businesses, you'll be capable of discover the cheapest rates of interest and also the ones that happen to be able to get you the money the quickest. It's advised that you simply go using a trusted and very well recognized payday loan direct lender. This can save you time by working with an online application and save you money when it comes to the rates of interest.
It isn't complicated to obtain a cash advance in Texas. Whenever you obtain yourself in a money crunch and are face to face with an emergency, a cash advance will come to your rescue. The services of a cash advance retailer are so prompt that you can get your loan income deposited inside your account within 24 hours of filing your application.
These are also known as rapidly payday loans for obvious causes. So whether you (or an individual within your family members) meet an accident, or no matter if you have to pay for unexpected car repairs, an American cash advance will be your friend in require. Comparable in function, organizations giving cash advance in Texas can present rapid services because they do every little thing electronically. From your application towards the verification of one's details, from the deposit of loan quantity towards the repayment, it is all electronic.
Apply from Anywhere Anytime
Usually speaking, any individual can apply for a money advance in Texas. So long as you're an American citizen and are over 18 years of age, you are able to apply. Apart from this, you also need a steady job along with a savings or checking bank account to become eligible.
The money is deposited directly inside your bank within 24 hours of the application. Similarly, the loan amount will be debited to your account on the repayment date. There is no hassle of checks if you get a cash advance in Texas. When you wish to extend the loan period, you'll have to notify the lender prior to the repayment date.
But beware: the extension will cost you additional fees. So don't delay unnecessarily. And also try to stay away from falling into the effortless debt trap that a cash advance can turn out to be. Apply for a money advance in Texas only for those who face an emergency. Do not use the American money advance to fund your each day living expenditures.
Borrow Smartly
Apart from every one of the capabilities and gains, numerous folks still think about taking a cash advance is an pricey way of borrowing funds. Thus, it really is then worthy adequate to check out how you may make use of it smartly. As you search for a cash advance businesses in Texas or anyplace else, it is best to be certain that the organizations state clearly how much they charge you for interest and fees. Make certain there are actually no hidden fees apart from what they display in their internet sites. Also constantly borrow at a substantial amount that you can repay to avert you from finding caught in a loan sharking.
Payday Loan from Direct Lenders
When submitting your money advance application using a direct lender, you will be saving oneself money because you won't be paying any commission expenses. Commissions are charged when a lender utilizes a middleman or perhaps a network for cash loans. These middlemen have to get paid for each lead that they send to the direct lender, as a result you are going to be the a single paying the cost for this.
Lower Rates of interest
Payday loans from direct lenders are the ones that happen to be going to provide you the lower interest rats simply because of the reality that it truly is straight from them. This can be also for the reason that with the high quantity of applications they get for cash advances. Should you do a fast comparison when researching the world wide web, it is best to come across there are numerous different payday loans from direct lenders accessible.
Licensed Payday Loan Businesses
You can uncover that all payday loans direct from lenders are legitimate. A few of these companies have already been about for years and are even licensed. Getting licensed indicates that they've strict terms and regulations. This will likely advantage you due to the fact from the cost the you'll agree to after you obtain the loan, for instance extension fees, is going to be the same fees you might pay later on. You might find that there are 3 benefits to gaining a payday loan direct from a lender. Nevertheless, make certain that you are dealing with a trusted and effectively acknowledged 1.
So in summary, if you study and evaluate the diverse payday loan direct lender businesses, you'll be capable of discover the cheapest rates of interest and also the ones that happen to be able to get you the money the quickest. It's advised that you simply go using a trusted and very well recognized payday loan direct lender. This can save you time by working with an online application and save you money when it comes to the rates of interest.
It isn't complicated to obtain a cash advance in Texas. Whenever you obtain yourself in a money crunch and are face to face with an emergency, a cash advance will come to your rescue. The services of a cash advance retailer are so prompt that you can get your loan income deposited inside your account within 24 hours of filing your application.
These are also known as rapidly payday loans for obvious causes. So whether you (or an individual within your family members) meet an accident, or no matter if you have to pay for unexpected car repairs, an American cash advance will be your friend in require. Comparable in function, organizations giving cash advance in Texas can present rapid services because they do every little thing electronically. From your application towards the verification of one's details, from the deposit of loan quantity towards the repayment, it is all electronic.
Apply from Anywhere Anytime
Usually speaking, any individual can apply for a money advance in Texas. So long as you're an American citizen and are over 18 years of age, you are able to apply. Apart from this, you also need a steady job along with a savings or checking bank account to become eligible.
The money is deposited directly inside your bank within 24 hours of the application. Similarly, the loan amount will be debited to your account on the repayment date. There is no hassle of checks if you get a cash advance in Texas. When you wish to extend the loan period, you'll have to notify the lender prior to the repayment date.
But beware: the extension will cost you additional fees. So don't delay unnecessarily. And also try to stay away from falling into the effortless debt trap that a cash advance can turn out to be. Apply for a money advance in Texas only for those who face an emergency. Do not use the American money advance to fund your each day living expenditures.
Borrow Smartly
Apart from every one of the capabilities and gains, numerous folks still think about taking a cash advance is an pricey way of borrowing funds. Thus, it really is then worthy adequate to check out how you may make use of it smartly. As you search for a cash advance businesses in Texas or anyplace else, it is best to be certain that the organizations state clearly how much they charge you for interest and fees. Make certain there are actually no hidden fees apart from what they display in their internet sites. Also constantly borrow at a substantial amount that you can repay to avert you from finding caught in a loan sharking.
Jump Ahead In The Real Estate Business
Robert Kiyosaki writes a book called The Real Book of Real Estate. In this book, you will have all the sharpest and keen of advice that will really help guide you through the ups and downs of real estate. The economic frontier of the real estate business can be difficult, at best, as there are always times when the market takes a plunge. But this book allows you to get a whole selection of tips that have been gotten from some of the greatest realtors of all time. Experiences of over two dozen realtors and the ways they made it big are in this book captured for your benefit and you will be able to take your game up a notch and really make your mark in the market.
Charles Fishman writes The Big Thirst, a book that really helps you understand the world through the perspective of water. He discusses the fact that water has been plentiful and clean and safe for such a long time that people can take advantage of it, but this book discusses how all of that is about to undergo a massive change and how big businesses can be affected by this devastating change, particularly as a result of pollution and contamination. This is a very important book for a realtor as it can really affect how you approach the entire economy of buying and selling property with this new dilemma in mind.
Gary W. Eldred writes Investing in Real Estate, a book that comes out in its fifth edition with the intent to cover all of the nuances of a changing market, as well as covering various and important forms of legislation that is pertinent to the field of being a realtor. Moreover, it deals with history's way of dealing with the market, property cycles, and helps you figure new ways to benefit from foreclosures, REOs and inventories of places in a way that will maximize your position as a realtor. This book is wonderful if you are new to the business and want a comprehensive kind of reference that will help you learn all there is to know and to make the most of it, too.
Frank Gallinelli writes What Ever Real Estate Investor Needs to Know About Cash Flow, a book that includes many financial measures that are essential for any realtor. The book discusses key topics such as net present value, cash on cash returns, net operating incomes, profitability indexes, returns on equity, as well as a number of other numbers that are really important in the job of realtor. You will get to understand just how and why these numbers and rates are so important and the book will break down how to use and approach these things.
Ken McElroy closes this list with his book, Rich Dad's Advisors: The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss. The title is fairly explanatory of the book's overall goals, but it really gives a great detailed portrayal of just how the real estate business can help you get rich and make a good turnover profit. With over two decades of experience, the author proposes a number of great advice and tips.
Charles Fishman writes The Big Thirst, a book that really helps you understand the world through the perspective of water. He discusses the fact that water has been plentiful and clean and safe for such a long time that people can take advantage of it, but this book discusses how all of that is about to undergo a massive change and how big businesses can be affected by this devastating change, particularly as a result of pollution and contamination. This is a very important book for a realtor as it can really affect how you approach the entire economy of buying and selling property with this new dilemma in mind.
Gary W. Eldred writes Investing in Real Estate, a book that comes out in its fifth edition with the intent to cover all of the nuances of a changing market, as well as covering various and important forms of legislation that is pertinent to the field of being a realtor. Moreover, it deals with history's way of dealing with the market, property cycles, and helps you figure new ways to benefit from foreclosures, REOs and inventories of places in a way that will maximize your position as a realtor. This book is wonderful if you are new to the business and want a comprehensive kind of reference that will help you learn all there is to know and to make the most of it, too.
Frank Gallinelli writes What Ever Real Estate Investor Needs to Know About Cash Flow, a book that includes many financial measures that are essential for any realtor. The book discusses key topics such as net present value, cash on cash returns, net operating incomes, profitability indexes, returns on equity, as well as a number of other numbers that are really important in the job of realtor. You will get to understand just how and why these numbers and rates are so important and the book will break down how to use and approach these things.
Ken McElroy closes this list with his book, Rich Dad's Advisors: The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss. The title is fairly explanatory of the book's overall goals, but it really gives a great detailed portrayal of just how the real estate business can help you get rich and make a good turnover profit. With over two decades of experience, the author proposes a number of great advice and tips.
Tuesday, June 12, 2012
The Benefits of Using Stoneware Dishes and Dinner Sets
Stoneware dishes and dinner sets are just as popular and valued by today's cooks as they have been for centuries gone by. Stoneware is a safe material for cooking food and it is also one of the most admirable kinds of material that has been used throughout centuries as a cooking vessel. The artful designs found on stoneware have always been very appealing to many people. And things are no different now. Stoneware has made a big comeback recently due to its multiple uses in today's kitchens. Some cooks prefer to buy their stoneware dishes individually while other choose complete dinner sets but they all buy for the benefit of the wonderful material.
Stoneware dishes and dinner sets are durable and this increases their value in the kitchen even more. These cooking and serving vessels are actually made from clay that has been treated at very high temperatures. They keep the food warm for a long time because the material has an inherent ability to store heat.
They are even more resilient than dishes made from china or porcelain. The heavy coating of glaze applied to the clay base makes these dishes so much more resistant to cracking or chipping.
Stoneware dishes and dinner sets are dishwasher safe and are very easy to maintain and clean up. And to make it even better, you can use stoneware dishes in the microwave! That is one benefit that makes the sale for so many families today.
You can safely keep it in the oven or even freeze it if you would like to store something in it. But one caution when freezing in stoneware - care should be taken when taking the vessel out of the freezer. If there is too much of a sudden temperature change the dishes are likely to break. To get around this, just be sure to allow some thawing time on the counter or overnight in the refrigerator before heating in your microwave or oven.
Stoneware dishes and dinner sets are durable and this increases their value in the kitchen even more. These cooking and serving vessels are actually made from clay that has been treated at very high temperatures. They keep the food warm for a long time because the material has an inherent ability to store heat.
They are even more resilient than dishes made from china or porcelain. The heavy coating of glaze applied to the clay base makes these dishes so much more resistant to cracking or chipping.
Stoneware dishes and dinner sets are dishwasher safe and are very easy to maintain and clean up. And to make it even better, you can use stoneware dishes in the microwave! That is one benefit that makes the sale for so many families today.
You can safely keep it in the oven or even freeze it if you would like to store something in it. But one caution when freezing in stoneware - care should be taken when taking the vessel out of the freezer. If there is too much of a sudden temperature change the dishes are likely to break. To get around this, just be sure to allow some thawing time on the counter or overnight in the refrigerator before heating in your microwave or oven.
Sunday, June 10, 2012
Sms Jokes And Humor To Forget The Stress Of Life.
Humor is essential part of life, including work life and a very important in our conversation. The sense of humor is as necessary for keeping your outlook healthy and for growing strong relationship. Everyone enjoys the company of person who can deliver humor well. Humor is much deeper than laughter. Without humor our life would be very colorless and becomes dull and monotonous. The use of humor in our daily life brightens our day and may also make strides our mental and physical health.
Humor affects us in our daily life. Whether you are working in big company or small company, whether you are in marketing department, finance department or accounts department, you probably come across a person who is very funny in nature and enlighten your day with his humorous nature. He spread the humor and joy with his funny sayings and jokes and makes you feel happy. If these humorous persons are not there with us, our life would become very boring.
What are SMS Jokes? SMS Jokes are sweet, funny and short messages that are particularly used for sending to your friends via SMS text messages. You need to master the art of text Jokes if you use text messaging as your operations in your daily life.
Sending SMS Jokes is a great way spread the humor. In fact, it is the easiest way to makes your friends smile and forget the stress of your daily life. Sharing funny jokes with your mates' cam make the serious moments of life much lighter. Reading and sending sms Jokes helps you access laughter and joy within you and it helps you relieves the tension and embarrassment by adding some fun and humor to it.
There are thousand of websites on internet where you can read thousand of SMS Jokes. The jokes in these websites all well places in different categories e.g. funny sms jokes, Hindi sms jokes, flirt sms jokes, funny sayings jokes etc. so that you can easily access them. When using SMS Jokes, it is important to choose the sms which doesn't make angry to the receiver of sms. You should choose the sms which should not be very rude or dirty, choose one according to taste and nature of receiving person.
Hence, SMS Jokes are great way to interact with your friends. They help you keep smile on your face as well as your friend's face and let you forget the stress of daily life.
Humor affects us in our daily life. Whether you are working in big company or small company, whether you are in marketing department, finance department or accounts department, you probably come across a person who is very funny in nature and enlighten your day with his humorous nature. He spread the humor and joy with his funny sayings and jokes and makes you feel happy. If these humorous persons are not there with us, our life would become very boring.
What are SMS Jokes? SMS Jokes are sweet, funny and short messages that are particularly used for sending to your friends via SMS text messages. You need to master the art of text Jokes if you use text messaging as your operations in your daily life.
Sending SMS Jokes is a great way spread the humor. In fact, it is the easiest way to makes your friends smile and forget the stress of your daily life. Sharing funny jokes with your mates' cam make the serious moments of life much lighter. Reading and sending sms Jokes helps you access laughter and joy within you and it helps you relieves the tension and embarrassment by adding some fun and humor to it.
There are thousand of websites on internet where you can read thousand of SMS Jokes. The jokes in these websites all well places in different categories e.g. funny sms jokes, Hindi sms jokes, flirt sms jokes, funny sayings jokes etc. so that you can easily access them. When using SMS Jokes, it is important to choose the sms which doesn't make angry to the receiver of sms. You should choose the sms which should not be very rude or dirty, choose one according to taste and nature of receiving person.
Hence, SMS Jokes are great way to interact with your friends. They help you keep smile on your face as well as your friend's face and let you forget the stress of daily life.
Forex Charts - Using The ADX Indicator For Bigger Profits
If you're using charts, then you want to trade the strong trends - and the Average Directional Movement Index Indicator, or ADX, enables you to do this.
Wells Wilder developed the ADX, and outlined it in his classic book New Concepts in Technical Trading Systems.
Let's look at this essential indicator in more detail - and see how to apply it on your forex charts, to give you greater accuracy when generating your trading signals.
Determining the Strength of the Trend
The ADX is a momentum indicator, which aims to measure the strength of the trend - and attempts to determine if the market is trending, or is trading sideways.
The Advantages of the ADX
A core belief of technical analysis is that a strong trend in motion is more likely to continue, than reverse. Therefore, you always want to be trading strong trends - as your odds of success are higher. The Average Directional Movement is a good indictor and you should consider using it as part of your currency trading system.
The Technical Bit
For the boffin's out there, here's the technical bit don't worry if you don't understand the calculation, its easy to use when visually plotted. The ADX is based on the comparison of two other directional indicators, both of which were also developed by Wilder, and they are:
Positive Directional Indicator (+DI) and the Negative Directional Indicator (-DI) to produce ADX as showed in the following formula:
ADX = SUM[(+DI-(-DI))/(+DI+(-DI)), N]/N
Where:
N: Refers to the period of calculation. The formula above produces the ADX line, which oscillates between 0 to 100 values. The +DI and -DI are both present and can be seen to make up the indicator.
You don't need to understand the above calculation to use the indicator you only need to accept that the indicator works.
The indicator is easy to use when it's visually plotted - and you'll find it included, with most of the good forex chart services.
How to Trade using the ADX Indicator
The ADX it's not a bullish, bearish trading signal generator - and should never be used as such.
The ADX indicator simply indicates the strength of the trend - and other indicators should be used to enter, and exit trades.
Although the ADX fluctuates from 0 to 100, it rarely moves above 60.
Use the ADX in the following way:
Readings above 40 indicate the strength of the trend.
Readings below 20 indicate range trading and flat periods of consolidation.
You can use the crossing of +DI and -DI to determine the trend direction; when +DI crosses -DI upward, it's a bullish signal, on the other hand, when +DI crosses -DI downward it's a bearish signal.
The ADX line is a great momentum indicator and like the RSI (also developed by Wells Wilder), the ADX it will help you trade the strongest trends - and give you advance warning of changes in momentum.
The Bottom Line
If you want currency trading success, you can't just trade support and resistance levels, and hope they hold or break. You need confirmation of momentum to get the odds on your side - and the ADX indicator will assist you.
Final Words
New Concepts in Technical Trading Systems was published in 1978, and was one of the first trading books I ever bought. Every trader should make this book a part of his or her forex education. If you want to learn forex trading the right way, get the book, and use the ADX indicator to increase your chances of making big FX Profits.
Wells Wilder developed the ADX, and outlined it in his classic book New Concepts in Technical Trading Systems.
Let's look at this essential indicator in more detail - and see how to apply it on your forex charts, to give you greater accuracy when generating your trading signals.
Determining the Strength of the Trend
The ADX is a momentum indicator, which aims to measure the strength of the trend - and attempts to determine if the market is trending, or is trading sideways.
The Advantages of the ADX
A core belief of technical analysis is that a strong trend in motion is more likely to continue, than reverse. Therefore, you always want to be trading strong trends - as your odds of success are higher. The Average Directional Movement is a good indictor and you should consider using it as part of your currency trading system.
The Technical Bit
For the boffin's out there, here's the technical bit don't worry if you don't understand the calculation, its easy to use when visually plotted. The ADX is based on the comparison of two other directional indicators, both of which were also developed by Wilder, and they are:
Positive Directional Indicator (+DI) and the Negative Directional Indicator (-DI) to produce ADX as showed in the following formula:
ADX = SUM[(+DI-(-DI))/(+DI+(-DI)), N]/N
Where:
N: Refers to the period of calculation. The formula above produces the ADX line, which oscillates between 0 to 100 values. The +DI and -DI are both present and can be seen to make up the indicator.
You don't need to understand the above calculation to use the indicator you only need to accept that the indicator works.
The indicator is easy to use when it's visually plotted - and you'll find it included, with most of the good forex chart services.
How to Trade using the ADX Indicator
The ADX it's not a bullish, bearish trading signal generator - and should never be used as such.
The ADX indicator simply indicates the strength of the trend - and other indicators should be used to enter, and exit trades.
Although the ADX fluctuates from 0 to 100, it rarely moves above 60.
Use the ADX in the following way:
Readings above 40 indicate the strength of the trend.
Readings below 20 indicate range trading and flat periods of consolidation.
You can use the crossing of +DI and -DI to determine the trend direction; when +DI crosses -DI upward, it's a bullish signal, on the other hand, when +DI crosses -DI downward it's a bearish signal.
The ADX line is a great momentum indicator and like the RSI (also developed by Wells Wilder), the ADX it will help you trade the strongest trends - and give you advance warning of changes in momentum.
The Bottom Line
If you want currency trading success, you can't just trade support and resistance levels, and hope they hold or break. You need confirmation of momentum to get the odds on your side - and the ADX indicator will assist you.
Final Words
New Concepts in Technical Trading Systems was published in 1978, and was one of the first trading books I ever bought. Every trader should make this book a part of his or her forex education. If you want to learn forex trading the right way, get the book, and use the ADX indicator to increase your chances of making big FX Profits.
Friday, June 8, 2012
The Best Betfair Horse Laying System
I'm sure you've heard about people making their living on the Internet, but how do they do it? There are so many ways to make money on the Internet: eBay, freelancing, multi-level marketing, online casinos, etc. and I'm sure you will have seen lot's of people telling you about the systems they use that have made them very rich very quickly. But how can you separate the wheat from the chaff' as it were? Is there really a fool proof way of making a regular income and if there is, what is it?
You have no doubt heard of Betfair and there are thousands upon thousands of systems promising you a great income by using theirs, however is backing winners or laying losers really as easy as these people make out?
In this article, I'll discuss a horse laying system that I created and how I did it, so potentially you could create your own or use mine...
Hello, my name is Stuart Anderson and I am an avid fan of statistics and how statistics can be used to give you an edge when gambling on the horses. You'll already know that people have been using statistics to win at gambling since gambling was invented. You'll also probably think that people who make a living from gambling are few and far between but these people do exist and there are more than you'd realise. These people are called professional gamblers and the people who aren't making a living are called punters.
So what's the difference between a professional gambler and a punter? It isn't luck as you might think, it's actually knowing that when you put your money down on a bet the chances of you winning far outweigh the chances of you losing therefore giving you the opportunity of making more money than you can loose. So how can you achieve this in horseracing? Simple: instead of finding a winner, we try to find a loser. There can only be one winner of a horse race (apart from in the very rare example of a dead heat which, according to Wikipedia, has only happened 7 times in the last twenty years) so finding a losing horse is statistically a lot easier than finding a winner
So that leads us to our first conclusion, a horse laying system rather than a backing system is the obvious choice for creating a revenue stream from gambling.
The next step is finding a horse that has a higher chance of losing a race than the odds that are being offered for it to win so we can keep our risk level at the minimum in case we are unlucky enough to find a winner. So our second conclusion is to only lay horses with low odds.
The horse with the lowest odds in a race is called the favourite, now you may be nervous about laying a favourite because as the name suggests it appears that this is the horse that has the most chance of winning the race, but this simply isn't the case. A favourite is simply the horse that has the most amount of money bet on it by, you guessed it, the punters. We already found out that punters are the people who lose money more often than they win. We don't want to be a punter!
It is a statistical fact that favourites in horse races loose more often than they win, if that wasn't the case anyone could make a fortune by just backing the favourite in every race. Indeed, backing every favourite would be a sure way of losing lots of money and this is why not even the stupidest of punter would ever try this system and if they did they wouldn't try it for long as soon all of their money would be gone.
Now obviously, favourites do win some races so now we need to add some further criteria into our system, and that leads us to our final conclusion: only lay the favourites in the types of races where statistically the favourite loses over 97% of the time.
These conclusions led to me developing a system with a good friend of mine: John Campbell who is also well versed in statistical gambling and financial trading.
Together we developed our system horse laying system: horselays.com.
The real key to the success of the system is that it uses all of the conclusions that we arrived at earlier in this article. By having some very strict bet entry criteria, out of up to fifteen potentially qualifying races in a day we may only get one or two actual opportunities, out of these opportunities we only take the first one that qualifies and this is where we achieve over a 97% strike rate. With this strike rate you can start making a living by following this system. Starting off with only a few hundred dollars you can quickly build up your Betfair account and start making as much money as you want.
You can try out the system to by visiting and signing up to the daily e-mail service that costs less than one Euro a day. The e-mail has full instructions of how to use the system and all the qualifying races for that day. We are so confident that the system will make you money that we offer a 7 day money back guarantee. You really have nothing to loose and everything to gain.
Just remember, the key to success is following the rules and walking away for the rest of the day as soon as your target has been reached. You'll be surprised how quickly your Betfair balance grows from just hundreds of dollars to thousands.
I hope you'll give it a try and find the same financial freedom the system has brought me, if not thank you for reading my article and I hope you found it informative and useful. Whatever you decide, good luck in everything you do.
Stuart Anderson
You have no doubt heard of Betfair and there are thousands upon thousands of systems promising you a great income by using theirs, however is backing winners or laying losers really as easy as these people make out?
In this article, I'll discuss a horse laying system that I created and how I did it, so potentially you could create your own or use mine...
Hello, my name is Stuart Anderson and I am an avid fan of statistics and how statistics can be used to give you an edge when gambling on the horses. You'll already know that people have been using statistics to win at gambling since gambling was invented. You'll also probably think that people who make a living from gambling are few and far between but these people do exist and there are more than you'd realise. These people are called professional gamblers and the people who aren't making a living are called punters.
So what's the difference between a professional gambler and a punter? It isn't luck as you might think, it's actually knowing that when you put your money down on a bet the chances of you winning far outweigh the chances of you losing therefore giving you the opportunity of making more money than you can loose. So how can you achieve this in horseracing? Simple: instead of finding a winner, we try to find a loser. There can only be one winner of a horse race (apart from in the very rare example of a dead heat which, according to Wikipedia, has only happened 7 times in the last twenty years) so finding a losing horse is statistically a lot easier than finding a winner
So that leads us to our first conclusion, a horse laying system rather than a backing system is the obvious choice for creating a revenue stream from gambling.
The next step is finding a horse that has a higher chance of losing a race than the odds that are being offered for it to win so we can keep our risk level at the minimum in case we are unlucky enough to find a winner. So our second conclusion is to only lay horses with low odds.
The horse with the lowest odds in a race is called the favourite, now you may be nervous about laying a favourite because as the name suggests it appears that this is the horse that has the most chance of winning the race, but this simply isn't the case. A favourite is simply the horse that has the most amount of money bet on it by, you guessed it, the punters. We already found out that punters are the people who lose money more often than they win. We don't want to be a punter!
It is a statistical fact that favourites in horse races loose more often than they win, if that wasn't the case anyone could make a fortune by just backing the favourite in every race. Indeed, backing every favourite would be a sure way of losing lots of money and this is why not even the stupidest of punter would ever try this system and if they did they wouldn't try it for long as soon all of their money would be gone.
Now obviously, favourites do win some races so now we need to add some further criteria into our system, and that leads us to our final conclusion: only lay the favourites in the types of races where statistically the favourite loses over 97% of the time.
These conclusions led to me developing a system with a good friend of mine: John Campbell who is also well versed in statistical gambling and financial trading.
Together we developed our system horse laying system: horselays.com.
The real key to the success of the system is that it uses all of the conclusions that we arrived at earlier in this article. By having some very strict bet entry criteria, out of up to fifteen potentially qualifying races in a day we may only get one or two actual opportunities, out of these opportunities we only take the first one that qualifies and this is where we achieve over a 97% strike rate. With this strike rate you can start making a living by following this system. Starting off with only a few hundred dollars you can quickly build up your Betfair account and start making as much money as you want.
You can try out the system to by visiting and signing up to the daily e-mail service that costs less than one Euro a day. The e-mail has full instructions of how to use the system and all the qualifying races for that day. We are so confident that the system will make you money that we offer a 7 day money back guarantee. You really have nothing to loose and everything to gain.
Just remember, the key to success is following the rules and walking away for the rest of the day as soon as your target has been reached. You'll be surprised how quickly your Betfair balance grows from just hundreds of dollars to thousands.
I hope you'll give it a try and find the same financial freedom the system has brought me, if not thank you for reading my article and I hope you found it informative and useful. Whatever you decide, good luck in everything you do.
Stuart Anderson
Eliminate Debt From Last Year's Gift Giving Season
The slowing economy took a turn for the better this past shopping season, as retailers reported an increase in sales compared to the same time periods of the past few years. Considering that many stores depend on the holiday gift giving season for up to 40% - 50% of their annual sales, this was welcome news.
Sadly, a majority of people were still using credit cards for a majority of purchases, increasing account balances that were already too high. For the ever-increasing online purchases, paying with cash is never an option. Now, the time has come when the reality of those higher balances appear as the credit card monthly statements arrive.
The upswing in sales is a direct result of rising consumer confidence. People believe their personal economy is going to improve. When that improvement happens, the bills will get paid. However, when someone's personal economic condition does not improve, the cycle of debt begins.
Unless a person can payoff their card balances within a few months, then the amount of spent on those 2010 gifts will grow as interest on those purchases continues to accumulate. That 00 spent on holiday gifts could balloon from 00 to 00 once those purchases, plus interest, are paid for.
The unfortunate truth is that most people never know how much money they are actually spending. Current purchases are simply added to previous balances, interest, future purchases, and future interest. When a consumer does not know the actual cost of purchased items, it becomes nearly impossible to know how those purchases fit into the gift giving budget.
How do consumers survive in 2011 when the debt begins to grow out of control? First, put away the credit cards. Use cash or debit cards. This helps you spend less than your income. If a family's monthly income is not enough to cover the monthly expenses, then that family cannot survive. Period. Difficult choices must be made on which expenses must be cut out their lives.
Secondly, eliminate the debt burden left behind. Many people continue to discover that debt elimination programs are very real. These elimination programs take advantage of consumer protection laws which have existed for many years. To accomplish this, it is again imperative that the commitment is made to live without credit cards. Just stop to imagine the saving if you were not losing money on interest payments. That's greater spending power for you.
When using cash or debit cards for your purchases, you are less likely to make that un-needed purchase when you can actually see the money disappearing from their wallet, or when there is not enough money in the wallet to begin with.
Using cash for a majority of purchases makes it easier to eliminate foolish purchases, and save money. When using cash, your conscious is clear because the decision not to buy an item is made for them, so the guilt about buying, or not buying, an item is relieved. No money in the wallet? Oh well, no new pair of shoes for me today. Walk away without the guilt of a larger debt load.
Sadly, a majority of people were still using credit cards for a majority of purchases, increasing account balances that were already too high. For the ever-increasing online purchases, paying with cash is never an option. Now, the time has come when the reality of those higher balances appear as the credit card monthly statements arrive.
The upswing in sales is a direct result of rising consumer confidence. People believe their personal economy is going to improve. When that improvement happens, the bills will get paid. However, when someone's personal economic condition does not improve, the cycle of debt begins.
Unless a person can payoff their card balances within a few months, then the amount of spent on those 2010 gifts will grow as interest on those purchases continues to accumulate. That 00 spent on holiday gifts could balloon from 00 to 00 once those purchases, plus interest, are paid for.
The unfortunate truth is that most people never know how much money they are actually spending. Current purchases are simply added to previous balances, interest, future purchases, and future interest. When a consumer does not know the actual cost of purchased items, it becomes nearly impossible to know how those purchases fit into the gift giving budget.
How do consumers survive in 2011 when the debt begins to grow out of control? First, put away the credit cards. Use cash or debit cards. This helps you spend less than your income. If a family's monthly income is not enough to cover the monthly expenses, then that family cannot survive. Period. Difficult choices must be made on which expenses must be cut out their lives.
Secondly, eliminate the debt burden left behind. Many people continue to discover that debt elimination programs are very real. These elimination programs take advantage of consumer protection laws which have existed for many years. To accomplish this, it is again imperative that the commitment is made to live without credit cards. Just stop to imagine the saving if you were not losing money on interest payments. That's greater spending power for you.
When using cash or debit cards for your purchases, you are less likely to make that un-needed purchase when you can actually see the money disappearing from their wallet, or when there is not enough money in the wallet to begin with.
Using cash for a majority of purchases makes it easier to eliminate foolish purchases, and save money. When using cash, your conscious is clear because the decision not to buy an item is made for them, so the guilt about buying, or not buying, an item is relieved. No money in the wallet? Oh well, no new pair of shoes for me today. Walk away without the guilt of a larger debt load.
Wednesday, June 6, 2012
Keep Driving, Even When You Can't Afford Your Vehicle's Repair
It has happened to almost everyone at one time or another; our cars have unexpectedly broken down when we can't afford to pay for an expensive repair. In the past, those of us with no credit cards, or maxed out cards were left with no option except to take our vehicles off the road until such a time as we could afford the cost of the repair. Fortunately today we have alternatives to such situations.
Today there are vehicle repair financing companies that can help. These companies offer financing specifically to those with no credit, or bad credit, who simply don't have the option of increasing their credit card limit. Because this financing is offered to those with poor credit histories, the borrower's vehicle is used as collateral to secure the loan. The vehicle remains in the borrower's name at all times, unless the borrower defaults on the loan, at which point the vehicle's ownership is transferred to the lender.
Lenders are usually able to advance amounts up to half of the market value of the vehicle. Because these loans are given based on the value of the vehicle, not on the credit rating of the borrower, the funds can be advanced quite quickly. Some lenders are even able to approve loans and send the funds all within the same day. This allows the borrower to get their car repaired and have it back on the road within the same day, depending on the time spent on the repair.
The vehicle repair industry is a relatively new industry, so finding a lender may be difficult, but it's not impossible. Ensure that the lender you choose is a reputable one by checking with either the Better Business Bureau or a similar entity, and that they do not have outstanding complaints against them. You may also request references from former customers. Also check the conditions of the loan carefully, or else you may find yourself stuck in an unending cycle of paying down only interest with little or no reduction in the amount of the loan.
As with all loans, car-title loans should not be taken lightly. They should be used by those who due to poor credit are not able to seek financing through typical financial institutions. Payments must be made on time and in full or the borrower risks either having an increase in interest charges, or worse, losing their vehicle. Finding the right lender is an effective way to ensure that you have a good loan experience.
Today there are vehicle repair financing companies that can help. These companies offer financing specifically to those with no credit, or bad credit, who simply don't have the option of increasing their credit card limit. Because this financing is offered to those with poor credit histories, the borrower's vehicle is used as collateral to secure the loan. The vehicle remains in the borrower's name at all times, unless the borrower defaults on the loan, at which point the vehicle's ownership is transferred to the lender.
Lenders are usually able to advance amounts up to half of the market value of the vehicle. Because these loans are given based on the value of the vehicle, not on the credit rating of the borrower, the funds can be advanced quite quickly. Some lenders are even able to approve loans and send the funds all within the same day. This allows the borrower to get their car repaired and have it back on the road within the same day, depending on the time spent on the repair.
The vehicle repair industry is a relatively new industry, so finding a lender may be difficult, but it's not impossible. Ensure that the lender you choose is a reputable one by checking with either the Better Business Bureau or a similar entity, and that they do not have outstanding complaints against them. You may also request references from former customers. Also check the conditions of the loan carefully, or else you may find yourself stuck in an unending cycle of paying down only interest with little or no reduction in the amount of the loan.
As with all loans, car-title loans should not be taken lightly. They should be used by those who due to poor credit are not able to seek financing through typical financial institutions. Payments must be made on time and in full or the borrower risks either having an increase in interest charges, or worse, losing their vehicle. Finding the right lender is an effective way to ensure that you have a good loan experience.
Tuesday, June 5, 2012
The Benefits Of Acquiring An Investment In Turkey
Turkey is a good tourist destination because of its environment that not only supports touring activities but also investment ventures. An investment in turkey would do so well if because of the large populace of the country that makes it a great spot to develop business enterprises. The economy of the nation has grown and it is still growing giving hope to those who need to go into various businesses.
Any business quest will find favor in this vast country with a number of great qualities to support it from all sides. It is not a tourist nation for nothing but it is for the good climate and the charming coastline that surrounds it. Year in and year out this country is filled with tourists from around the world who come to enjoy its products and services.
Real estate is set to benefit more when this country finally joins the European Union as this will grow it economically hence boosting businesses. As you plan to invest in real estate; you should have this nation in mind because it is a good starting point. As the country develops, your business quests will also follow suit giving you more benefits every year.
A nation will grow when it has people working hard every day and only young people can do this fast and efficiently. This is the kind of populace that Turkey has that is set to grow it economically and if you want to grow as well; you need to invest in property that will engage this populace. Familiarize yourself with majority of the cities in the country that have openings for real estate investing.
People have migrated to these cities to look for jobs; if you have invested properly in your property in any of these cities, you can make good profits. The building standards of this country are investor friendly hence suitable for you if you are from any of the European countries. As you venture into this area, you will find it easy to make it a second home because the investment laws are favorable.
A great amount of confidence will be installed in you when you are comfortable where you are investing in. You will not only be free to make more developments but also be proud of what you have already. This is what the nation will make you feel once you have set foot in it with an aim of investing in property and succeed.
As a growing country, it is one that is filled with so many opportunities for you to take advantage of. Invest your money in well researched and certified investment dealings that will not only make you move to the highest levels but also create a stable ground for your business. There is always success waiting where hard work and determination are combined with knowledge and blended in with professionalism.
The entry of the nation into the European Union will not only open up more market for investors but also grow the current investments. Therefore if you have an investment in Turkey, you are very lucky because you are on the right route. The journey will be better as time moves on and the country joins the EU finally.
Any business quest will find favor in this vast country with a number of great qualities to support it from all sides. It is not a tourist nation for nothing but it is for the good climate and the charming coastline that surrounds it. Year in and year out this country is filled with tourists from around the world who come to enjoy its products and services.
Real estate is set to benefit more when this country finally joins the European Union as this will grow it economically hence boosting businesses. As you plan to invest in real estate; you should have this nation in mind because it is a good starting point. As the country develops, your business quests will also follow suit giving you more benefits every year.
A nation will grow when it has people working hard every day and only young people can do this fast and efficiently. This is the kind of populace that Turkey has that is set to grow it economically and if you want to grow as well; you need to invest in property that will engage this populace. Familiarize yourself with majority of the cities in the country that have openings for real estate investing.
People have migrated to these cities to look for jobs; if you have invested properly in your property in any of these cities, you can make good profits. The building standards of this country are investor friendly hence suitable for you if you are from any of the European countries. As you venture into this area, you will find it easy to make it a second home because the investment laws are favorable.
A great amount of confidence will be installed in you when you are comfortable where you are investing in. You will not only be free to make more developments but also be proud of what you have already. This is what the nation will make you feel once you have set foot in it with an aim of investing in property and succeed.
As a growing country, it is one that is filled with so many opportunities for you to take advantage of. Invest your money in well researched and certified investment dealings that will not only make you move to the highest levels but also create a stable ground for your business. There is always success waiting where hard work and determination are combined with knowledge and blended in with professionalism.
The entry of the nation into the European Union will not only open up more market for investors but also grow the current investments. Therefore if you have an investment in Turkey, you are very lucky because you are on the right route. The journey will be better as time moves on and the country joins the EU finally.
Monday, June 4, 2012
Investor Grievance Redressal Mechanism
Those who invest in equity shares through the IPO route or secondary market often find it difficult obtaining rightful ownership of their assets. This happens because of failure on the part of the intermediary that is, the merchant banker or banker to the issue, when investing in IPOs. At fault also may be brokers, sub-brokers and depository participants, and poor service delivery by companies or registrar and transfer agent in respect of share certificates and the benefits thereon.
Let us look at some of the ways in which grievances pertaining to secondary market transactions can be redressed. These are the safest and most transparent in the Indian economy. Ours is the only market where the purchaser of a service knows how much its supplier has earned in the transaction. A complete audit trial is provided for the satisfaction of investors. When somebody does not deliver, the redressal mechanisms are severe on the defaulter, but often not used because of geographical distances or the friendly relationship between investor and broker. The mechanism is also very time-bound since prices fluctuate on a second-to-second basis and a dispute cannot be addressed after too long a time lag. Prompt communication with the agency concerned is therefore vital.
The broker is the first point of redressal mechanism. The bye-laws provide that the investor should bring his dispute to the notice of the broker within six months from the date of transaction. The Bombay Stock Exchange, Mumbai, has established an Investor Grievance Redressal Committee (IGRC), which, upon receipt of a complaint from the investor, seeks explanation from the member within a certain period. The IGRC is a conciliatory committee, chaired by a retired High Court judge, that tries to bring about an amicable settlement. If this is not possible, then the parties are advised to go in for arbitration proceedings. The IGRC looks into the following complaints:
Non-receipt of shares/ sale proceeds of shares.
Non-settlement of accounts.
Disputes regarding rate difference.
Non-implementation of arbitration awards.
The conciliatory proceedings are not part of the byelaws. However, certain penalties are imposed on brokers for failure to appear before or fulfill commitments due to the committee. If the conciliatory proceedings fail, the investor has to file arbitration with the stock exchange.
This is a quasi-judicial mechanism, with a panel of arbitrators, consisting of retired High Court judges, and professionals, such as solicitors, chartered accountants, company secretaries, and others with a knowledge of the capital markets. The panel is constituted every year and approved by SEBI. Disputes against members of the Stock Exchange, Mumbai, and registered sub-brokers can be referred to arbitration:
The claimant has to bring the dispute to the member's notice in a written communication within six months from the date of claim. The NSE byelaws, on the other hand, state that the claim should be submitted to the arbitration within six months from the date on which it has arisen. For operational convenience, the date of transaction under dispute is taken for the purpose of calculating the time limit. The Stock Exchange, Mumbai, states that the complaint against the broker first be made to the IGRC, before accepting an arbitration application. A majority of the disputes get resolved at the IGRC level itself and investors are spared the lengthy arbitration process.
.
The Stock Exchange, Mumbai, provides for an appeal bench, which is the second-tier arbitration mechanism. The party which is not satisfied with the award can refer it to an appeal bench within 15 days of its receipt and deposit the full and final amount with the exchange. The bench, in exceptional cases, grants exemption against such deposits.
SEBI has advised the Stock Exchanges to debit the amount of arbitration award in favour of the client against the member of the exchange form the security deposit or any other monies of the concerned members and keep the same in a separate account. The awards passed by the appeal bench are appealable in the High Court under Section 34 of the Arbitration and Conciliation Act, 1996. The appeal has to be filed within 90 days of the award.
There is a limitation clause in the Byelaws for filing claims against defaulter members. The rules provide that the arbitrators will entertain no claim against a defaulting member after the expiry of six months from the date a member is declared a defaulter.
The Stock Exchanges have set up customer protection funds, which disburse award amounts of up to Rs 10 lacs against a defaulter member. The Investor Protection Fund in administered by the defaulters committee of the exchange and it has the sole discretion to honor various awards. The awards, which are for non-payment of shares sold and for non-receipt of shares purchased, are only entertained by this committee. Therefore, all claims for profits or losses arising out of share market transactions are not honoured by the committee. The committee also does not honour amounts advanced to brokers by way of loans.
Systemic improvements in the market such as online trading, depositories and improvement in compliance levels have considerably reduced the number of disputes between clients and brokers. Enhanced margining systems have made the markets safer and defaults are few and far between. Yet, if you are in a sticky situation, do not delay in informing the authorities. Ensure that the purchases you paid for are credited to your demat account and cash on sales made is received on time. You discharge your obligations, the system is in place to take care of all the disputes.
Let us look at some of the ways in which grievances pertaining to secondary market transactions can be redressed. These are the safest and most transparent in the Indian economy. Ours is the only market where the purchaser of a service knows how much its supplier has earned in the transaction. A complete audit trial is provided for the satisfaction of investors. When somebody does not deliver, the redressal mechanisms are severe on the defaulter, but often not used because of geographical distances or the friendly relationship between investor and broker. The mechanism is also very time-bound since prices fluctuate on a second-to-second basis and a dispute cannot be addressed after too long a time lag. Prompt communication with the agency concerned is therefore vital.
The broker is the first point of redressal mechanism. The bye-laws provide that the investor should bring his dispute to the notice of the broker within six months from the date of transaction. The Bombay Stock Exchange, Mumbai, has established an Investor Grievance Redressal Committee (IGRC), which, upon receipt of a complaint from the investor, seeks explanation from the member within a certain period. The IGRC is a conciliatory committee, chaired by a retired High Court judge, that tries to bring about an amicable settlement. If this is not possible, then the parties are advised to go in for arbitration proceedings. The IGRC looks into the following complaints:
Non-receipt of shares/ sale proceeds of shares.
Non-settlement of accounts.
Disputes regarding rate difference.
Non-implementation of arbitration awards.
The conciliatory proceedings are not part of the byelaws. However, certain penalties are imposed on brokers for failure to appear before or fulfill commitments due to the committee. If the conciliatory proceedings fail, the investor has to file arbitration with the stock exchange.
This is a quasi-judicial mechanism, with a panel of arbitrators, consisting of retired High Court judges, and professionals, such as solicitors, chartered accountants, company secretaries, and others with a knowledge of the capital markets. The panel is constituted every year and approved by SEBI. Disputes against members of the Stock Exchange, Mumbai, and registered sub-brokers can be referred to arbitration:
The claimant has to bring the dispute to the member's notice in a written communication within six months from the date of claim. The NSE byelaws, on the other hand, state that the claim should be submitted to the arbitration within six months from the date on which it has arisen. For operational convenience, the date of transaction under dispute is taken for the purpose of calculating the time limit. The Stock Exchange, Mumbai, states that the complaint against the broker first be made to the IGRC, before accepting an arbitration application. A majority of the disputes get resolved at the IGRC level itself and investors are spared the lengthy arbitration process.
.
The Stock Exchange, Mumbai, provides for an appeal bench, which is the second-tier arbitration mechanism. The party which is not satisfied with the award can refer it to an appeal bench within 15 days of its receipt and deposit the full and final amount with the exchange. The bench, in exceptional cases, grants exemption against such deposits.
SEBI has advised the Stock Exchanges to debit the amount of arbitration award in favour of the client against the member of the exchange form the security deposit or any other monies of the concerned members and keep the same in a separate account. The awards passed by the appeal bench are appealable in the High Court under Section 34 of the Arbitration and Conciliation Act, 1996. The appeal has to be filed within 90 days of the award.
There is a limitation clause in the Byelaws for filing claims against defaulter members. The rules provide that the arbitrators will entertain no claim against a defaulting member after the expiry of six months from the date a member is declared a defaulter.
The Stock Exchanges have set up customer protection funds, which disburse award amounts of up to Rs 10 lacs against a defaulter member. The Investor Protection Fund in administered by the defaulters committee of the exchange and it has the sole discretion to honor various awards. The awards, which are for non-payment of shares sold and for non-receipt of shares purchased, are only entertained by this committee. Therefore, all claims for profits or losses arising out of share market transactions are not honoured by the committee. The committee also does not honour amounts advanced to brokers by way of loans.
Systemic improvements in the market such as online trading, depositories and improvement in compliance levels have considerably reduced the number of disputes between clients and brokers. Enhanced margining systems have made the markets safer and defaults are few and far between. Yet, if you are in a sticky situation, do not delay in informing the authorities. Ensure that the purchases you paid for are credited to your demat account and cash on sales made is received on time. You discharge your obligations, the system is in place to take care of all the disputes.
Sunday, June 3, 2012
How To Negotiate For Furniture When You're Involved In The Sale Of A House
To effectively negotiate furniture into the sales agreement for a house, you should identify in advance any furniture that you are interested in selling or buying, let the realtor know your terms and expectations, don't be afraid to receive or make a counteroffer, and closely examine the sales contract.
When purchasing or selling a home you can expect to do a great deal of negotiating and bargaining. Common things that transactors discuss include the price of the home, and what items are included in the sale, like furniture. Here is some advice on negotiating the furniture when buying or selling a home:
If you are interested in buying or selling any furniture you should tell us in advance
If you are a seller, make sure you already have a clear list of the furniture pieces that you are willing to leave behind or sell with the house. Furniture is included in the contract mostly when the buyer and seller can't come to a deal. If the purchaser talks about the inclusion of extra items, it is good to be prepared. If you are buying, be sure to look for items in the house that you are interested in when you are able to take a peek inside. Adequate attention must be paid on expensive furniture pieces that decorate your home as their replacement would be difficult.
Explain to the realtor what you want and how you plan to go about it
Make a note of which things you want to purchase or sell and give the list of items to your realtor. The real estate agent is the one who deals with the terms and negotiation between the purchaser and seller. As a buyer you should be certain to tell your realtor your standards for any possible deals in advance. For sellers, be careful about letting go of too much furniture too soon. Let the realtor know your terms, but you may want to hold back on offering high-cost pieces early in the negotiation. If the potential homebuyer needs some encouragement to consummate the deal, you can offer to include your more expensive furniture items.
There is no need to be afraid about making or getting a counteroffer
If you are a seller, you should not be surprised if your initial offer gets declined and you receive a counter offer. If you are presented with a counteroffer, look over it to see if the terms and conditions are consistent with your needs and then make a decision about whether you want to add furniture to the agreement. For buyers, don't be afraid to voice an alternative proposition if you see that the seller's proposal still has room for negotiation.
Closely examine the sales contract
Sellers should already have written a contract with clearly defined terms. Verify again and again so that you are not in trouble of any kind. In the case of buyers, make sure that you have examined the contract to determine if the seller included any furniture pieces in the deal. In order to make sure that you do not miss even the minutest print, ask your lawyer to review the same.
Buyers and sellers need not be nervous about negotiating all the possible issues as the purchase and sale of a property is a major event for both.
When purchasing or selling a home you can expect to do a great deal of negotiating and bargaining. Common things that transactors discuss include the price of the home, and what items are included in the sale, like furniture. Here is some advice on negotiating the furniture when buying or selling a home:
If you are interested in buying or selling any furniture you should tell us in advance
If you are a seller, make sure you already have a clear list of the furniture pieces that you are willing to leave behind or sell with the house. Furniture is included in the contract mostly when the buyer and seller can't come to a deal. If the purchaser talks about the inclusion of extra items, it is good to be prepared. If you are buying, be sure to look for items in the house that you are interested in when you are able to take a peek inside. Adequate attention must be paid on expensive furniture pieces that decorate your home as their replacement would be difficult.
Explain to the realtor what you want and how you plan to go about it
Make a note of which things you want to purchase or sell and give the list of items to your realtor. The real estate agent is the one who deals with the terms and negotiation between the purchaser and seller. As a buyer you should be certain to tell your realtor your standards for any possible deals in advance. For sellers, be careful about letting go of too much furniture too soon. Let the realtor know your terms, but you may want to hold back on offering high-cost pieces early in the negotiation. If the potential homebuyer needs some encouragement to consummate the deal, you can offer to include your more expensive furniture items.
There is no need to be afraid about making or getting a counteroffer
If you are a seller, you should not be surprised if your initial offer gets declined and you receive a counter offer. If you are presented with a counteroffer, look over it to see if the terms and conditions are consistent with your needs and then make a decision about whether you want to add furniture to the agreement. For buyers, don't be afraid to voice an alternative proposition if you see that the seller's proposal still has room for negotiation.
Closely examine the sales contract
Sellers should already have written a contract with clearly defined terms. Verify again and again so that you are not in trouble of any kind. In the case of buyers, make sure that you have examined the contract to determine if the seller included any furniture pieces in the deal. In order to make sure that you do not miss even the minutest print, ask your lawyer to review the same.
Buyers and sellers need not be nervous about negotiating all the possible issues as the purchase and sale of a property is a major event for both.
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