Utah, the Nation’s Bankruptcy Capital

Written by Charles Essmeier


Continued from page 1
percent ofrepparttar citizens of Utah are members ofrepparttar 139874 Church of Jesus Christ of Latter-Day Saints, and members are encouraged to have large families. It costs more to feed, clothe and house a large family than a small one.

  • Utah has more families with only one wager earner. Large families mean more stay-at-home moms, so a lot of families must get by on a single paycheck.


  • Utah’s wages are lower than average. Many high tech companies have relocated to Utah in recent years, butrepparttar 139875 “high tech” jobs they provide are often telephone customer service jobs, which typically pay $8-10 per hour.


  • Members ofrepparttar 139876 LDS Church are expected to tithe 10% of their income torepparttar 139877 Church.


  • While Utah’s home prices are not amongrepparttar 139878 highest nationally, they are fairly high when compared torepparttar 139879 average wage withinrepparttar 139880 state.


    • The combination of large families, fewer workers per family, church donations and low wages have contributed to an economic environment that makes it very hard for many Utahns to stay afloat financially. This is in direct contrast withrepparttar 139881 arguments put forth by Congress whenrepparttar 139882 new bankruptcy law was proposed, which suggested that most people filing for bankruptcy are simply irresponsible. For many hard-working people in Utah,repparttar 139883 new law will make it harder than ever to make ends meet.

    ©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and StructuredSettlementHelp.com, a site devoted to information regarding structured settlements.


    Online Home Equity Loans: A Basic Glossary

    Written by John Ross


    Continued from page 1

    Equity: This isrepparttar amount of money that you have vested in your home. This can be determined by subtractingrepparttar 139873 lien amount fromrepparttar 139874 property's value.

    Equity Loan: A loan or line of credit that is based onrepparttar 139875 amount of equity that you have in your home. Your home is essentially used as collateral.

    Fixed Interest Rate: An interest rate that remains constant throughoutrepparttar 139876 life ofrepparttar 139877 loan. A fixed-rate mortgage will haverepparttar 139878 same interest rate and payments forrepparttar 139879 length ofrepparttar 139880 loan.

    Home Equity Line of Credit: Similar to a home equity loan, but you receive a line of credit that you can draw upon at any time.

    Home Equity Loan: A loan based onrepparttar 139881 amount of equity you have in your home.

    Interest: This isrepparttar 139882 cost for borrowing money.

    Interest Rate: This isrepparttar 139883 percentage ofrepparttar 139884 loan amount that you must add to your principle, forrepparttar 139885 privilege of borrowing money.

    Loan-To-Value Ratio: This isrepparttar 139886 ratio betweenrepparttar 139887 amount ofrepparttar 139888 loan andrepparttar 139889 actual value ofrepparttar 139890 home. Some loans can give you up to a 125% Loan-To-Value Ratio.

    Market Value: This isrepparttar 139891 price that buyers would be willing to pay for your home, atrepparttar 139892 present time. This can vary fromrepparttar 139893 actual sale price ofrepparttar 139894 home.

    PITI (Principal, Interest, Taxes, and Insurance): This isrepparttar 139895 usual breakdown for mortgage payments.

    Principal: The amount of your original loan before interest was added.

    John Ross is a freelance author who writes articles about financial loans including: home equity loans company, online home equity loans, and fixed rate home equity loans.


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