http://www.articletrader.com/ Articles at ArticleTrader en-us http://www.articletrader.com/home-and-family/parenting/reading-with-your-toddler.html http://www.articletrader.com/home-and-family/parenting/reading-with-your-toddler.html Mon, 13 Nov 2006 00:00:00 -0600 storybook together should be a every day activity.

When your child is an infant, story time creates a warm safe environment to encourage the connection between words and meaning. At this stage cloth books with bright pictures will be more of a “teething ring”, but your child will love to hold them while listening to your soothing voice.

For a toddler sturdy board books are designed for not so nimble fingers to turn the pages while you read the words on the brightly colored pages. At this age kids will start to connect pictures with words. ABC’s, shapes, and rhyming books are great teaching tools for this age group.

Preschool age children will love to “play” reading and writing games as they near school age. Also books can be more advanced to help “big” kids with things like potty training, starting preschool, and getting along with others.

Reading material with familiar subjects and people are great for teaching your child to read. Books can also boost your child’s self-esteem, excite their imagination, as well as stimulate learning. The greatest benefit though is the time spent sharing a wonderful pastime with your child.



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Under The Lamb– copyright 2006

Source: http://www.articletrader.com ]]> http://www.articletrader.com/home-and-family/interior-design/history-and-uses-of-tiffany-lamps.html http://www.articletrader.com/home-and-family/interior-design/history-and-uses-of-tiffany-lamps.html Mon, 13 Nov 2006 00:00:00 -0600
During this time Tiffany began using the discarded glass pieces from his stained glass panels to create the decorative lamps synonymous with his name. These lampshades were created by carefully fitting hundreds of hand cut glass pieces into copper foil enclosures. Copper foil is extremely light and strong which enabled Tiffany to design and create large and complex shades for his lamps. Commonly Tiffany lamps use a bronze sculpture base, but it is definitely not restricted to this material.

Tiffany style lamps can be used in many rooms within your home with various applications. Tiffany ceiling light fixtures are a great lighting source for illuminating a whole room. While smaller table lamps are an excellent source for directed lighting. If space is an issue Tiffany floor lamps can provide a lot of light while taking up minimal floor space. Tiffany lamps can also be found for desks, billiard lighting, walls sconces, and accent lighting.

Tiffany lamps have always been and will always be a beautiful piece of art as well as an outstanding addition to your home. Do not wait another day to add the timeless beauty and elegance of Tiffany lamps to your home. It is something many have always wanted and now is a great time to make it happen.



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All Things Tiffany - copyright 2006


Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/lease-option-to-buy-explained.html http://www.articletrader.com/finance/real-estate/lease-option-to-buy-explained.html Fri, 10 Nov 2006 00:00:00 -0600
At times a lease option can be used to help renters OR future purchasers out until they regain some control on their credit rating. Credit issues are the main reason people can't just purchase a home themselves in today's times - so a lease option is a great way to obtain a home, build some credit in the process through credit repair and then purchase that home of their dreams.

Lease Options are a thing still of the future. Alot of investors use these to make profits as well off of renters that later become the owner of the home.


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ABOUT THE AUTHOR:
Tamara Schmitt is currently a Loan Officer with 1st United Mortgage. Tamara is also the top loan officer at Get Loans Cheap, an internet business geared solely to educate and aid the consumer in assessing and obtaining the right loan for their specific needs, as well as, helping rate mortgage Professionals in all fields. View the site for more articles on mortgages and refinancing, or other home loan needs. You can view Tamara's home page and see her feedback and more articles she has written at Mortgage Information


Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/loans/interest-cost-vs-interest-rate.html http://www.articletrader.com/finance/loans/interest-cost-vs-interest-rate.html Fri, 03 Nov 2006 00:00:00 -0600
Let's look at this simple chart below:

A B
All Your Debt $100 $100
Monthly Payment $6.00 $7.00
Total of all Payments $149.00 $212.00

Believe it or not, interest rate doesn’t always matter. Let me give you an example. Imagine two scenarios, A&B. (Illustrated Above) In both scenarios; your total debt is $100. Scenario A your monthly payment is $6.00 and scenario B your payment is $7.00 per month. Which scenario would you choose? A is the obvious answer. Now everything is still the same. In scenario A, you will pay a total of $149.00 over the life of the loan and scenario B you will pay $212.00 over the life of the loan. Which scenario would you choose? Scenario A is still the obvious answer, because your monthly payment is lower and you are paying less over the life of the loan. Now everything is still the same. In scenario A your interest rate is 8% and scenario B your interest rate is 6%. Which scenario would you choose? If you answered A, then you now understand the difference between interest rate and interest cost. (Illustrated Below)


A B
All Your Debt $100 $100
Monthly Payment $6.00 $7.00
Total of all Payments $149.00 $212.00
Interest Rate 8% 6%

Interest rate is only a number on a piece of paper. Interest cost is what the rate is going to cost you in dollars and cents. I know what you are thinking, “That’s not possible; if the rate is lower then the payment has to be lower.” Not true, when looking at a mortgage payment, you also have to calculate in PMI or Private Mortgage Insurance. Anytime you are dealing with a Conforming Loan and the Loan to Value (the loan amount divided by the appraised value) is 80% or above, you will be required to pay PMI. The amount differs from loan to loan, but PMI can add a substantial amount to your payment. In addition, when PMI is required, it does not protect you, it only protects the bank. Therefore, in many of these situations going with another loan program (i.e. sub prime) that has a higher rate, but does not require PMI, can actually give you a lower payment. For example, if you have a home that is worth $112,000.00 and you have a mortgage of $100,000.00. If you were in a conforming loan you would be required opay PMI because your Loan to Value is 89.3% (100,000/112,000 = .893). Say that conforming loan is at 6.5%; your principle and interest payment would be $632.06/month. Your PMI conservatively could run around $60.00/ month bringing your payment up to $692.06/month. Now, if your loan is with a sub prime lender that does not require PMI and your rate is 7%, your payment would only be $665.30/month. “Amazingly” that 7% rate costs you $26.76 less per month than the 6.5% rate. You can also take into consideration the tax savings you will receive. You see, while interest that you pay on your mortgage is tax deductible, Private Mortgage Insurance is not. I could also illustrate interest cost versus interest rate with consolidating high interest credit cards into a 7% loan vs. not consolidating and just refinancing the mortgage into a 6% loan. Depending on how much additional debt there is to consolidate, you could save hundreds of dollars in monthly expenses while reducing the time it takes to pay off all your debts.There are many other examples I could use to illustrate this, but the best thing to do is discuss your personal options and savings with a mortgage professional.

As you can see, refinancing is not as simple as “What’s my rate?” The real question you need to ask when refinancing is, “What is my rate doing for me?” I encourage you to determine what your short term and long term financial goals are and discuss them with your mortgage professional. These professionals aren’t just there to get you “The Best Rate.” They are there to counsel you on how you can use the equity in your home to achieve your financial goals for today and tomorrow.



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ABOUT THE AUTHOR:
Ryan Davis is currently a Loan Officer with Global Mortgage Group, a Broker licensed in 12 States and one of the largest Brokerages in the South East. Ryan is also a Beta Team Tester of Get Loans Cheap, an internet business geared solely to educate and aid the consumer in assessing and obtaining the right loan for their specific needs. View http://www.getloanscheap.com for more articles on mortgages and refinancing, or other home loan needs. Also you can view Ryan's home page at Home Loan Information

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/loans/conforming-vs-nonconforming-mortgage.html http://www.articletrader.com/finance/loans/conforming-vs-nonconforming-mortgage.html Fri, 03 Nov 2006 00:00:00 -0600
Conforming mortgages derive thier name because they "conform" to Fannie Mae (FNMA) or Freedie Mac (FHLMC) standards. Fannie Mae (FNMA) is a private, shareholder-owned company that works to make sure money is available for home loans. FNMA stands for Federal National Mortgage Association. Fannie Mae does not lean money directly to home buyers. Instead, they work with lenders to make sure they don't run out of mortgage funds, so more people can achieve their goal of homeownership.

Freddie Mac (FHLMC) is a stockholder-owned corporation chartered Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership. FHLMC stands for Federal Home Loan Mortgage Corporation. Both have guidelines that must be met to obtain funding.

Non-conforming mortgage loans are entirely different. You may qualify for a mortgage loan through the non-conforming world even if you do not conform to the above standards. With nonconforming loans, each lender sets their own criteria to determine eligibility. Lenders have different "niches" they try to serve. Some may be to provide riskier loans at higher interest rates for poor credit applicants. Others may be to offer access to more cash for those with better credit. Some specialize in providing loans to self employed borrowers. In any case, each lender makes their makes their own rules and they are not bound by any federal charter. This gives extreme flexibility in the loan products they are allowed to offer.

Apart from structural differences between the companies offering each type of loan, there are major differences in the features and benefits of the two loan categories as the chart below highlights.

Conforming

*Typically, only for customers with good credit
* Rigid standards (e.g. max of 95% rate/term & 90% with cash out)
* Fewer Programs:
- Mostly fixed rates
- A few ARMs and balloons
- Full doc only
*Strict restrictions for cash out
*Mortgage insurance for loans over 80% LTV
*No unusual Property types (no mobile homes)
*No prepayment penalties
*Automated underwriting
*Primarily rate-focused

Non-Conforming

*For customers with good or bad credit
*Much more flexible standards (e.g. 125% cash out)
*Many programs, e.g.:
- Fixed, ARMs, balloons
- 100% LTV
- Alternative income documentation
- Interest only
*Few restrictions for cash out
*No mortgage insurance (usually)
*Most property types (e.g. mobile homes)
*Prepayment penalty options to lower the rate
*Automated or manual underwriting
*Primarily benefit-focused


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ABOUT THE AUTHOR:
Tamara Schmitt is currently a Loan Officer with 1st United Mortgage. Tamara is also the top loan officer at Get Loans Cheap, an internet business geared solely to educate and aid the consumer in assessing and obtaining the right loan for their specific needs, as well as, helping rate mortgage Professionals in all fields. View the site for more articles on mortgages and refinancing, or other home loan needs. You can view Tamara's home page and see her feedback and more articles she has written at Home Loan Information

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/loans/main-qualifying-factors-for-refinancing.html http://www.articletrader.com/finance/loans/main-qualifying-factors-for-refinancing.html Fri, 03 Nov 2006 00:00:00 -0600 mortgage loan: EQUITY, INCOME and CREDIT.

Everyone seems to be so concerned with the interest rate on their loan and how to get the lowest one possible. The answer is simple. Interest rate is directly related to ….RISK.
If you want to lower interest rate, eliminate the risk of the loan to the lender. Lenders look at risk based on the same three qualifying factors: Equity, income and credit.

Equity Risk Factors:

* Limited or no equity = High LTV %: the mortgage loan is secured by the equity in the property. If the property has little or no equity, it is a riskier loan for the lender.

* Poor marketability: If you are financing a unique property such as a log cabin or a home bigger or smaller than the homes in the area it affects the marketability of the home. In addition, mobile homes or manufactured homes have marketability issues as well.

* Short residential history: If you have not lived in the property very long, you have very little vested in it. You haven’t paid down the loan much, and now you are trying to finance it again. This could be adding debt on top of debt and is looked at as risky by the lender.

* Lack of comparable sales supporting value: If homes are not selling in the area, it is a risky loan to do. If the borrower defaults on the mortgage loan, the lender may have trouble recouping the costs and investment they made into the loan.


Income Risk Factors:

* Low Income = High DTI%: If the borrower doesn’t make much money or has bills that account for too much of the income that is received, it is a risky loan for the lender. The borrower may have to begin making choices of which bill to pay.

* Difficult to verify: There are many cases where a borrower may make plenty of money, but it is difficult to actually verify the money they bring in. Such is the case with many self-employed borrowers. To take advantage of tax laws, self-employed borrowers write off as much income by way of expenses as they can. This helps them avoid overpaying taxes. It hurts them, however, when trying to qualify for a mortgage loan.

* Short employment history or gaps in employment: The lender wants to know with reasonable surety that the employment the borrower has now while qualifying for the loan will remain in place. Job hoppers or borrowers who show periods of unemployment present more risk to the lender. What if the borrower takes a new job for less money? What if they become unemployed?

* Low disposable income: This ties in to the DTI%. Disposable income is what the borrower has left after all the reported monthly obligations are paid. Remember, this has to cover utilities, automobile, taxes, groceries, etc. None of those expenses are figured into the DTI%. Low disposable income indicates the borrower is probably over-extended and thus presents a riskier lending scenario.

* Unemployed/ laid off borrower: Obviously, if the borrower doesn’t have a job or a way to pay back the loan, it presents a high level of risk for the lender.


Credit Risk Factors:

* Late payments on the current or past mortgage accounts: The mortgage lender is most concerned with how the borrower has paid the mortgage loans in the past. If they have late payments in the past on mortgage accounts, it is a good indication that it may happen again in the future- showing a level of risk to the lender.

* Late payments on other accounts: After the mortgage accounts, lenders look at the other debt obligations to see how the borrower has paid those. Although not often weighted as heavily as the mortgages, late payments on other account still affect the level of risk inherent with issuing a mortgage to that borrower.

* Derogatory Accounts: Derogatory accounts include foreclosures, bankruptcies, charge offs and collections. If the borrower has had these issues in the past, the lender must weigh the level of risk and the probability that it could happen again in the future.

* Low Credit Scores: This is an indicator that the borrower has had some overall credit problems in the past. The lender will only lend certain amounts based on the various credit scores.

* Lack of credit history: Lenders like to see a pattern of good payment history on the credit report. If the borrower has little or no credit, the lender may want the borrower to establish a good payment history on other accounts before taking the risk in issuing a mortgage loan.

* High balances compared to limits: This typically shows that the borrower is over-extended and living on credit. For obvious reasons, this is risky for the lender. Usually, it is only a matter of time before the borrower will start getting behind on those payments, especially if they do not change the lifestyle to live within their means.

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ABOUT THE AUTHOR:
Tamara Schmitt is currently a Loan Officer with 1st United Mortgage. Tamara is also the top loan officer at Get Loans Cheap, an internet business geared solely to educate and aid the consumer in assessing and obtaining the right loan for their specific needs, as well as, helping rate mortgage Professionals in all fields. View the site for more articles on mortgages and refinancing, or other home loan needs. You can view Tamara's home page and see her feedback and more articles she has written at Home Loan Information

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/loans/preparing-your-home-for-an-appraisal.html http://www.articletrader.com/finance/loans/preparing-your-home-for-an-appraisal.html Fri, 03 Nov 2006 00:00:00 -0600 Many websites show the houses sold in your area within the last 6 month to a year that are similar to yours. Some require a membership fee (sitex.com) but some are free (Homevalue.com).

When an appraiser comes, part of his job will be to find “Comps”, or houses of comparable value that have sold in the last 6 months. This is to prove the value he places on your house. Many appraisals must include 3-4 Comps to verify value stated.

When you have set the appointment for the appraisal date, it’s a good idea to do a few preliminary things before the date. A little effort could increase the value by a lot. Of course, cleaning up clutter is always the first step. Clean environments give the impression that you care for your property and are responsible for its upkeep.

Secondly, simple repair of any unsightly damages can be inexpensive and pay huge dividends. Painting, trim, soffet repair and simple landscaping, for instance, can help the value considerably. Just remember, unfinished projects can hinder and do more harm than good on the inspection day, so only attempt projects that you know you can complete.

When the appraiser comes, he will measure the home, get a general layout of the interior and take photos of the outside and sometimes even the inside. The process usually takes less that an hour. Then his real work begins. With the information gathered, he now has to research for comps, and any other variables to verify the stated value. He won’t be able to give a firm value on the day of appraisal until this work is done. The total process takes about 4 days and a value is given of your property.

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ABOUT THE AUTHOR:
Tamara Schmitt is currently a Loan Officer with 1st United Mortgage. Tamara is also the top loan officer at Get Loans Cheap, an internet business geared solely to educate and aid the consumer in assessing and obtaining the right loan for their specific needs, as well as, helping rate mortgage Professionals in all fields. View the site for more articles on mortgages and refinancing, or other home loan needs. You can view Tamara's home page and see her feedback and more articles she has written at Home Loan Information

Source: http://www.articletrader.com ]]>