Reverse Mortgage Providing Peace of Mind Without Sacrificing Safety or SecurityWritten by Barry Scoles
For many seniors one of their greatest sources of security is their home. It not only provides a comfortable and familiar environment, but it provides a sense of independence and a source of many fond memories. The equity in that home represents a financial nest egg and a legacy for them to pass on to their family. With ever-increasing cost of maintaining a home, along with overall rise in cost of healthcare, finding resources to live out ones life at home is becoming a growing challenge.
What is a Reverse Mortgage? A reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), is a government insured loan program that allows senior homeowners, age 62 and older, to convert equity in their home into usable cash. Unlike a conventional mortgage however, qualification is not based on credit, employment, income, or assets, and there are no monthly payments. The homeowner never forfeits title, and as long as they pay property taxes and homeowners insurance, no repayment is required until senior no longer occupies home due to their sale of property or their passing.
Are Reverse Mortgages Safe? Absolutely! Reverse Mortgages are FHA insured or backed by Fannie Mae. And as long as you continue to live in house as your primary residence, keep real-estate taxes and insurance(s) current, and comply with terms of loan, you do not have to repay loan.
For an increasing number of seniors, age 62 or older, a reverse mortgage has provided great peace of mind. They are provided tax-free cash to meet these financial demands without giving up title to their home. They have no monthly payment or deadline as to when they must move or pay off loan. Although program is viewed by seniors as a possible solution to there financial needs, they are concerned about putting themselves, their home or their family at risk. Following are a few of safeguards that HUD and Fannie Mae have provided:
Forex Trading Best PracticesWritten by Diane McDee
FOREX, term for FOReign EXchange market, is an international exchange market where currencies from many different countries are bought and sold. Both long-term hedge investors and short-term investors that seek quick profits use FOREX. Trade reaches between 1 and 1.5 trillion US dollars per day. Needless to say, FOREX is a very lucrative market. Many wonder how to gain most profits by trading with FOREX. There are a few simple trade practices that can help any trader, either an amateur or a professional make significant profit from FOREX.
The best traders firstly understand intricacies of FOREX trading. In order to be successful, one must understand how FOREX works. FOREX transactions are not centered in an exchange, unlike stock market. Many transactions can take place at different times all over world. This is important to note if one is going to invest in FOREX. In order to trade, one must simply find a trader (there are many around world, some can even be found online), decide currency to purchase, sell currency, and make profit. However, if FOREX was this simple, everyone would do it. In reality, most people have to gamble with FOREX because no currency is completely stable, and there is always risk for losing money.
One of best FOREX practices, but also most potential hazardous is marginal trading. Marginal trading is when an investor speculates on currency prices by getting a credit line. This can lead to a vast gain, as well as a potential loss. Because FOREX can be traded without real money, trading with borrowed capital (marginal trading) can be very appealing. Using this techniques, an investor can invest more money without having to deal with as many money transfer costs. Marginal trading also allows bigger positions to be opened with a smaller amount of actual capital. This trading practice is certainly for short-term investor.
The best long-term practices with FOREX are Technical Analysis and Fundamental Analysis. It is a good idea for small and medium sized investors to invest in technical analysis. Technical Analysis assumes that all information about market and future fluctuations of a currency can be found in price chain. In other words, technical analysis involves looking at past events in market and assuming that these trends will continue. This is a very good strategy because, quite simply, history has a habit of repeating itself. This is also safer because it entails less guesswork than marginal trading, since investor assumes that history will continue and therefore makes a safe investment in a strong currency that seems likely to continue a positive trend.