RIPSINK.COM - FINANCIAL SECTION
--- INFORMATION TO HELP YOU MAKE CRITICAL FINANCIAL DECISIONS ---
DO YOU KNOW YOUR MORTGAGE REFINANCING OPTIONS?
The interest rate on your mortgage is tied directly to how much you pay on your mortgage each month--lower rates usually mean lower payments. You may be able to get a lower rate because of changes in the market conditions or because your credit score has improved. A lower interest rate also may allow you to build equity in your home more quickly.
For example, compare the monthly payments (for principal and interest) on a 30-year fixed-rate loan of $200,000 at 5.5% and 6.0%:
Monthly payment @ 6.0% $1,199
Monthly payment @ 5.5% $1,136
The difference each month is $ 63
But over a year's time, the difference adds up to $ 756
Over 10 years, you will have saved $7,560
Adjusting the length of your mortgage
Increase the term of your mortgage: You may want a mortgage with a longer term to reduce the amount that you pay each month. However, this will also increase the length of time you will make mortgage payments and the total amount that you end up paying toward interest.
Decrease the term of your mortgage: Shorter-term mortgages--for example, a 15-year mortgage instead of a 30-year mortgage--generally have lower interest rates. Plus, you pay off your loan sooner, further reducing your total interest costs. The trade-off is that your monthly payments usually are higher because you are paying more of the principal each month.
For example, compare the total interest costs for a fixed-rate loan of $200,000 at 6% for 30 years with a fixed-rate loan at 5.5% for 15 years:
Monthly payment Total interest
30-year loan @ 6.0% $1,199 $231,640
15-year loan @ 5.5% $1,634 $ 94,120
Refinancing is not the only way to decrease the term of your mortgage. By paying a little extra on principal each month, you will pay off the loan sooner and reduce the term of your loan. For example, adding $50 each month to your principal payment on the 30-year loan above reduces the term by 3 years and saves you more than $27,000 in interest costs.
If you have an adjustable-rate mortgage, or ARM, your monthly payments will change as the interest rate changes. With this kind of mortgage, your payments could increase or decrease.
You may find yourself uncomfortable with the prospect that your mortgage payments could go up. In this case, you may want to consider switching to a fixed-rate mortgage to give yourself some peace of mind by having a steady interest rate and monthly payment. You also might prefer a fixed-rate mortgage if you think interest rates will be increasing in the future. ( If your monthly payment on a fixed-rate loan includes escrow amounts for taxes and insurance, your payment each month could change over time due to changes in property taxes, insurance, or community association fees.)
Getting an ARM with better terms
If you currently have an ARM, will the next interest rate adjustment increase your monthly payments substantially? You may choose to refinance to get another ARM with better terms. For example, the new loan may start out at a lower interest rate. Or the new loan may offer smaller interest rate adjustments or lower payment caps, which means that the interest rate cannot exceed a certain amount. For more details, see the Consumer Handbook on Adjustable-Rate Mortgages.
Tip: If you are refinancing from one ARM to another, check the initial rate and the fully-indexed rate. Also ask about the rate adjustments you might face over the term of the loan.
Getting cash out from the equity built up in your home
Home equity is the dollar-value difference between the balance you owe on your mortgage and the value of your property. When you refinance for an amount greater than what you owe on your home, you can receive the difference in a cash payment (this is called a cash-out refinancing). You might choose to do this, for example, if you need cash to make home improvements or pay for a child’s education.
Remember, though, that when you take out equity, you own less of your home. It will take time to build your equity back up. This means that if you need to sell your home, you will not put as much money in your pocket after the sale.
If you are considering a cash-out refinancing, think about other alternatives as well. You could shop for a home equity loan or home equity line of credit instead. Compare a home equity loan with a cash-out refinancing to see which is a better deal for you. See What You Should Know about Home Equity Lines of Credit.
Tip: Many financial advisers caution against cash-out refinancing to pay down unsecured debt (such as credit cards) or short-term secured debt (such as car loans). You may want to talk with a trusted financial adviser before you choose cash-out refinancing as a debt-consolidation plan.
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WHAT DO YOU KNOW ABOUT ALLSTATE INSURANCE?
Allstate is financially a strong insurance choice. They are very popular among insurance customers in the U.S. They offer a wide variety of products and customers have access to local agents along with a user friendly website. Although there have been Allstate complaints, it still remains one of the top insurance choices for U.S. customers.
Company Rating by Best Insurance Reports A+
Solid History, Founded in 1931
2nd Largest Personal Lines Insurer in the U.S.
Exclusive "Acccident Forgiveness" Program
Local Offices Available Nationwide
Licensed insurance professionals are available 24/7 to discuss your specific needs. If you have a claim, you can be assured it will be filed easily and handled properly.
Allstate provides the best combination of coverage and value. You get customized insurance that's just as affordable as those one-size-fits-all policies.
If you're younger than 25, single, and a full-time student, your good grades may qualify you for a discount on auto insurance.
Allstate insurance company is the second largest personal lines insurer in the U.S. The Allstate insurance company began in 1931. They started in 1931 asa part of the Sears Roebuck and Co.
"Your in Good Hands" is a slogan that most know as belonging to Allstate insurance company. Allstate relies heavily on advertising through their TV commercials along with sponsorships. Allstate's largest sponsorships include the Allstate Sugar Bowl, the Allstate 400, and the U.S. Olympic Committee.
Allstate insurance company sells a variety of insurance products including 13 major lines of insurance. Allstate's auto, home, and life insurance are among their most popular products. The Allstate company also offers financial products.
Overall the Allstate insurance company is a solid company with a Best insurance report rating of A+ and their large customer base supports their stability. But, although their stability is strong, they still have had their share of complaints. One of of worst came with the title of #1 worst Insurer by the American Association for Justice. PBS and Business Week have also exposed various complaints about the insurance company ranging from claims problems to deceptive practices. Allstate has also had customer complaints of offering a low, attractive premium to get new customers to switch to Allstate.
Accidents happen. And if you're involved in one, you'll need to file an auto insurance claim. Even a minor accident can be unsettling, so taking a few minutes now to understand the claims process means fewer problems later when it's time to file your claim.
After the Accident:
Before doing anything else, check the accident scene and confirm that no one was injured. If there are injuries, dial 911 immediately.
Share Info with the Other Driver
Start with your policy number and your insurance company's phone number-you'll find them on the proof-of-insurance card most states require you to carry in your vehicle. Then exchange names, addresses, and phone numbers with the other driver. Remember to write down the other vehicle's make, model, and license plate number, along with the number of passengers and an overview of the damage to each vehicle. Our claim worksheet helps you gather all the info you'll need throughout the claims process-print one to keep in your glovebox.
Once you have all the accident info-and you've filed a police report, if required-contact your insurance company as soon as possible to report your accident and any damages. You have a few options in how to file a claim.
BENEFITS OF ALLSTATE AUTO INSURANCE:
This helps keep your rates from going up just because of an accident. Even if it's your fault.
You'll get $100 off your Collision deductible the day you sign up. And then $100 off every year you go without an accident. Up to $500 total.
NEW CAR REPLACEMENT
If your new car gets totaled in the first three model years, you may be able to get a totally new car - not just a check for the depreciated value.
SAFE DRIVING BONUS
Introducing the Safe Driving Bonus Check*, for every six months of accident-free driving you have the opportunity to earn a check of up to 5% of your premium.
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WHAT DO YOU KNOW ABOUT THE CHASE FREEDOM CARD?
The Chase Freedom Card might be a better alternative to the Discover Card for some. Since it's a Visa or MasterCard, it's more widely accepted. It also pays higher rewards than Discover.
The Chase Freedom has no annual membership fee. You don’t have to pay any annual fee to enjoy the cash back rewards and other great cardholder benefits of Chase Freedom.
You will receive 10,000 bonus points with this bonus offer, which can be redeemed for a $100 check. To qualify and receive your bonus, you must make purchases totaling $500 or more during the first 3 months from account opening. Purchases do not include using your account for balance transfers or cash advances, or using any checks that access your account. After qualifying, please allow 6 to 8 weeks for bonus points to post to your account. To be eligible for this bonus offer, account must be open and not in default at the time of fulfillment. This one-time bonus offer is valid only for first-time cardmembers with new accounts. Previous and existing cardmembers/accounts are not eligible for this bonus offer.
Receive $100 bonus cash back. This is one of the best deals the Chase Freedom card has to offer. You will receive this $100 cash back bonus after spending just $500 in your first three months of having this card. (Which can be spent in the form of purchases, balance transfers or checks.)
You earn 1% on all purchases and 4% more in bonus categories for a total of 5%. 4% bonus earn is subject to a quarterly maximum. You will be eligible for quarterly bonuses as long as (i) your account is not in default under, and/or you have not violated, the terms of your Cardmember Agreement and Rewards Program Rules and Regulations at the time accounts are selected for the promotional offers, and (ii) your statements are sent to a US address. Quarterly enrollment required.
Receive 5% cash back in quarterly rotating categories, up to $1,500 each quarter. 5% cash back is one of the most attractive benefits this card has to offer. This 5% deal averages out to 2% cash back on every category throughout the year, if you take into account a 1% cash back on 3 quarters for the year! You’ll be notified in advance which categories you will be able to benefit from each quarter and can then plan your spending for that year. It can help you save a lot of money if you use it to your advantage. The catch: you must enroll for each quarterly 5% program!
You will earn 1 point for each $1 of net purchases. You will earn an additional 1 point for each $1 of airfare and hotel accommodation net purchases when you book at chase.com/ultimaterewards. You do not earn points on balance transfers, cash advances, cash-like charges such as travelers checks, foreign currency, and money orders, any checks that are used to access your account, overdraft advances, interest, unauthorized or fraudulent charges, or fees of any kind, including fees for products that protect or insure the balances of your account. There is no maximum number of points that you can accumulate in the program. Bonus/Promotional offers may have a maximum accumulation. A service fee of up to $20 per ticket may be charged for the use of our toll-free number to book or change airline itineraries. Redemptions made online do not have a service fee. See Rewards Program Rules and Regulations which will be mailed after your account is established.
Earn cash back. Chase is offering $100 cash back after new cardholders spend $500 within the first three months of opening an account. After that, all purchases will earn 1 percent cash back, with 5 percent cash back being offered for spending in categories that change each quarter. For example, from July through September, you can earn the 5 percent bonus at gas stations and at restaurants.
Zero-percent promotional financing. New cardholders will also receive a zero-percent promotional APR on both new purchases and balance transfers for 15 months.
Chase’s Blueprint program. Freedom cardholders are eligible to participate in Chase’s Blueprint program, a free option that allows you to choose to pay some purchases in full while carrying a balance on others. No other bank offers this feature, and the Blueprint program also includes powerful budgeting and goal-setting tools.
No annual fee. But there’s a foreign transaction fee of 3 percent on all purchases processed outside of the United States - unlike the Chase Slate card, which has no fee.
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Ancient Proverb: Enjoy life, catch LIVE fish in a STREAM
RIPSINK.COM™ encourages you to learn all the details of your financial contracts before signing any documents or making any decisions.
CBS has its origins in United Independent Broadcasters Inc., a collection of 16 radio stations that was bought by William S. Paley in 1928 and renamed the Columbia Broadcasting System. Under Paley's guidance, CBS would first become one of the largest radio networks in the United States and then one of the big three American broadcast television networks. In 1974, CBS dropped its full name and became known simply as CBS, Inc. The Westinghouse Electric Corporation acquired the network in 1995 and eventually adopted the name of the company it had bought to become CBS Corporation. In 2000, CBS came under the control of Viacom, which coincidentally had begun as a spin-off of CBS in 1971. In late 2005, Viacom split itself and reestablished CBS Corporation with the CBS television network at its core. CBS Corporation is controlled by Sumner Redstone through National Amusements, its parent.
As of fall 2010, CBS operates on an 87½-hour regular network programming schedule. It provides 22 hours of prime time programming to affiliated stations: 8-11 p.m. Monday to Saturday (all times ET/PT) and 7-11 p.m. on Sundays. Programming is also provided 10 am-3 p.m. weekdays (game shows The Price Is Right and Let's Make a Deal, soaps The Young and the Restless and The Bold and the Beautiful, and talk show The Talk); 7-9 a.m. weekdays and Saturdays (The Early Show); CBS News Sunday Morning, nightly editions of the CBS Evening News, the Sunday political talk show Face the Nation, a 2½-hour early morning news program Up to the Minute and CBS Morning News; the late night talk shows Late Show with David Letterman and The Late Late Show with Craig Ferguson; and a three-hour Saturday morning live-action/animation block under the name Cookie Jar TV.
ABOUT NEW YORK:
New York has architecturally noteworthy buildings in a wide range of styles and from distinct time periods from the saltbox style Pieter Claesen Wyckoff House in Brooklyn, the oldest section of which dates to 1656, to the modern One World Trade Center, the skyscraper currently under construction at Ground Zero in Lower Manhattan and currently the most expensive new office tower in the world.
Manhattan's skyline with its many skyscrapers is universally recognized, and the city has been home to several of the tallest buildings in the world. As of 2011, New York City had 5,937 high-rise buildings, of which 550 completed structures were at least 100 meters high, both second in the world after Hong Kong, with over 50 completed skyscrapers taller than 656 feet (200 m). These include the Woolworth Building (1913), an early gothic revival skyscraper built with massively scaled gothic detailing.
Major destinations include the Empire State Building; Statue of Liberty; Ellis Island; Broadway theater productions; museums such as the Metropolitan Museum of Art; greenspaces such as Central Park and Washington Square Park; Rockefeller Center; Times Square; the Manhattan Chinatown; luxury shopping along Fifth and Madison Avenues; and events such as the Halloween Parade in Greenwich Village; the Macy's Thanksgiving Day Parade; the St. Patrick's Day parade; seasonal activities such as ice skating in Central Park in the wintertime; the Tribeca Film Festival; and free performances in Central Park at Summerstage. Special experiences outside the key tourist areas of the city include the Bronx Zoo; Coney Island; Flushing Meadows-Corona Park; and the New York Botanical Garden.