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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DO YOU KNOW HOW TO REFINANCE YOUR STUDENT LOAN?
Refinancing student loans may seem easy until you immerse yourself into the details. What starts as a simple loan can turn into a pile of complicated paperwork and overwhelming decision choices. If you decide that student loan refinancing is a good idea for you, get organized and make it easier to take control of your financial future with these tips to remember when refinancing student loans.
Find out what type of loans, if any, you currently have outstanding. Student loans come in many forms including private and federal. Typically, federally guaranteed student loans are eligible for lower interest rates than private loans. Calculate the cost of consolidating all loans versus keeping private and federally funded loans separate.
Get your credit in great shape before applying to refinance or consolidate loans. Refinancing student loans is a lot like any other loan; the lenders will use your credit and payment history to determine rates and loan eligibility. Start several months in advance so you will be able to make corrections to your credit report in the event of errors or omissions. Having a solid credit score not only allows you to qualify for better rates but also reduces the fees associated with other monthly bills.
Watch the interest rates. Unlike mortgage or car loans, student loan rates on federal loans only change once each year - usually on July 1st. If you are interested in refinancing federal student loans and are unsure of whether not interest rates will remain low then lock-in prior to the rate change.
Verify requirements in advance. Take time to verify eligibility requirements prior to making a final decision. Each lender has different standards and requirements that must be met in order to qualify; for example, minimum student loan refinance amounts or "out of school" status.
Understand rights and responsibilities prior to taking on a new loan. Be sure you fully understand the rights and responsibilities associated with taking out a new loan prior to signing any papers. Remember, you can reduce student loan repayment terms by lowering the interest rate, extending the repayment period or both. Review all of your options in advance before making a final decision.
Compare discounts and other incentive programs. Many student loan consolidation programs allow considerable discounts for early payment, the establishment of a direct or automatic draft payment plan and on-time payments. Combined, these incentives and discounts can reduce rates by 1 full percent or even more when refinancing student loans.
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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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Ancient Proverb: You never really Live until you catch 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.
NBC (NO BETTER CREDIT)
WHY YOUR CREDIT SCORE
MAY BE COSTING YOU MONEY
There are surveys showing that 9 out of 10 consumers are unaware what their credit score is, I’d like to quickly share with you how your credit score could be costing you a fortune… in more ways than you can imagine. We spend a lot of time telling you how the Credit Secrets Bible can help you raise your score ... and this is great ... but it's also important to know just how bad a low score can be.
We all know a low credit score will make everything in the world of finance more expensive because of higher interest rates from lenders due to being considered a greater credit risk (i.e. higher interest rates on car, homes and credit cards). While this may be considered common knowledge by some, it’s truly devastating effects are understood by few.
For example. If you purchase a $200,000 home on a 30 year fixed mortgage at 8% interest instead of 6% (because of your credit score); that 2% is going to end up costing you a total of $96,934.11 over the term of the loan. Now, think about how many “extra” years you’ll have to work to pay off $96,934.11 because of an extra 2% in interest?
The part few people talk about is all the other areas in life where a low score will increase your cost of living on an annual basis. For example. In addition to paying more for a car, home and credit cards, a low credit score will most likely have you paying more for the following as well.
1.AUTO INSURANCE. As many as 92% of the 100 largest personal automobile insurers use credit information to underwrite new business, according to a 2001 study by Conning & Co., an insurance-research and asset-management firm.
2.HOMEOWNERS INSURANCE. It’s thought many insurance companies see a correlation between low credit scores and increased property insurance claims. Therefore, a low score will result in higher rates.
3.LIFE and HEALTH INSURANCE. Customers who are unable to pay their monthly insurance premium thereby pass along that increased cost to the insurance company whose stuck with the bill… resulting in a loss for the company. Since customers who pay without lapse are more profitable it is felt by many that a low credit score now even affects a monthly life and/or health insurance premium negatively.
One of the more shocking areas where a low credit score will you cost you is in the area of employment. It’s estimated as many as 42% of employers now do credit checks on applicants before hiring them (according to a 1998 survey by the Society for Human Resource Management).
While many employers claim they only do it to “verify” information on your application (such as where you live and where you have worked etc.) we can both assume they are taking the liberty to “have a peek” at how you handle your financial affairs as well. According to the Public Research Interest Group (PIRG) as many as 79% all credit reports contain errors - 25% of which are serious enough to cause the denial of credit (according to a 2004 report).
And that's all the more troubling in light of the increasing impact a bad credit report can have, says Ed Mierzwinski, director of PIRG's consumer program. "It's outrageous that the credit bureaus are claiming their scores are accurate enough to take people's lives and screw with them like this".
THE HISTORY OF NBC
For many years NBC was closely identified with David Sarnoff, who used it as a vehicle to sell consumer electronics. It was Sarnoff who ruthlessly stole innovative ideas from competitors,using RCA's muscle to prevail in the courts. RCA and Sarnoff had dictated the broadcasting standards put in place by the FCC in 1938,and captured the spotlight by introducing all-electronic television to the public at the 1939-40 New York World's Fair, simultaneously initiating a regular schedule of programs on the NBC-RCA television station in New York City. President Franklin D. Roosevelt appeared at the fair, before the NBC cameras, becoming the first U.S. president to appear on television on April 30, 1939. The David Sarnoff Library has available an actual, off-the-monitor photograph of the FDR telecast. The broadcast was transmitted by NBC's New York television station W2XBS Channel 1 (now WNBC-TV channel 4) and was seen by about one thousand viewers within the station's roughly 40-mile (64 km) coverage area from their Empire State Building transmitter location.
The next day, May 1, four models of RCA television sets went on sale to the general public in various New York City department stores, promoted in a series of splashy newspaper ads. It is to be noted that DuMont (and others) actually offered the first home sets in 1938 in anticipation of NBC's announced April 1939 start-up. Later in 1939, NBC took its cameras to professional football and baseball games in the New York City area, establishing many "firsts" in the history of television.
Actual NBC "network" broadcasts (more than one station) began about this time with occasional special events - such as the British King and Queen's visit to the New York World's Fair - being seen in Philadelphia (over the station which would become WPTZ, now KYW) and in Schenectady (over the station which would become WRGB), two pioneer stations in their own right. The most ambitious NBC television "network" program of this pre-war era was the telecasting of the Republican National Convention in 1940 from Philadelphia, which was fed live to New York and Schenectady.However, despite major promotion by RCA, television set sales in New York in the 1939-1940 period were disappointing, primarily due to the high cost of the sets, and the lack of compelling regular programming. Most sets were sold to bars, hotels and other public places, where the general public viewed special sporting and news events.
30 Rockefeller Center, also known as the GE Building, is the world headquarters of NBC.
Television's experimental period ended, and the FCC allowed full commercial telecasting to begin on July 1, 1941. NBC's New York station W2XBS received the first commercial license, adopting the call letters WNBT (it is now WNBC-TV). The first official, paid television commercial on that day broadcast by any station in the United States was for Bulova Watches, seen just before the start of a Brooklyn Dodgers baseball telecast on NBC's WNBT, New York. A test pattern, featuring the newly assigned WNBT call letters, was modified to look like a clock, complete with functioning hands. The Bulova logo, with the phrase "Bulova Watch Time", was shown in the lower right-hand quadrant of the test pattern. A photograph of the NBC camera telecasting the test pattern-advertisement for that first official TV commercial can be seen at this page. Among programming on the opening weekend of WNBT's programming was amateur boxing at Jamaica Arena, the Eastern Clay Courts tennis championships, programming from the USO, a spelling bee-type game show called "Words on the Wing," a few feature films, and the television debut of the game show Truth or Consequences.
Limited programming continued until the U.S. entered World War II. Telecasts were curtailed in the early years of the war, then expanded as NBC began to prepare for full service upon the war's end. On V-E Day, May 8, 1945, WNBT broadcast hours of news coverage, and remotes from around New York City. This event was pre-promoted by NBC with a direct-mail card sent to television set owners in the New York area. At one point, a WNBT camera placed atop the marquee of the Hotel Astor panned the crowd below celebrating the end of the war in Europe. The vivid coverage was a prelude to television's rapid growth after the war ended.
The NBC television network grew from its initial post-war lineup of four stations. The 1947 World Series featured two New York teams (Yankees and Dodgers), and local TV sales boomed, since the games were telecast in New York. More stations along the East Coast and in the Midwest were connected by coaxial cable through the late 1940s, and in September 1951 the first transcontinental telecasts took place.
The early 1950s brought success for NBC in the new medium. Television's first big star, Milton Berle, drew large audiences to NBC with his antics on Texaco Star Theater. Under its innovative president, Sylvester "Pat" Weaver, the network launched Today and The Tonight Show, which would bookend the broadcast day for over fifty years, and which still lead their competitors. Weaver, who also launched the genre of periodic 90-minute network "spectaculars," network-produced motion pictures, and the live 90-minute Sunday afternoon series Wide Wide World, left the network in 1955 in a dispute with its chairman David Sarnoff, who subsequently named his son Robert Sarnoff as president.
In 1951, NBC commissioned Italian-American composer Gian Carlo Menotti to compose the first opera ever written for television; Menotti came up with Amahl and the Night Visitors, a forty-five minute work for which he wrote both music and libretto, about a disabled shepherd boy who meets the Three Wise Men and is miraculously cured when he offers his crutch to the newborn Christ Child. It was such a stunning success that it was repeated every year on NBC from 1951 to 1966, when a quarrel between Menotti and NBC ended the broadcasts. However, by 1978, Menotti and NBC had patched things up, and an all-new production of the work, filmed partly on location in the Middle East, was telecast that year.
LIST OF NBC SHOWS
News and information
Meet the Press (1947-present)
NBC Nightly News (1970-present)
Dateline NBC (1992-present)
Early Today (1999-present)
Rock Center with Brian Williams (2011-present)
Mad Money (2012-present)
Law & Order: Special Victims Unit (1999-present)
Harry's Law (2011-present)
The Firm (2012-present)
The Office (2005-present)
30 Rock (2006-present)
Parks and Recreation (2009-present)
Up All Night (2011-present)
Are You There, Chelsea? (2012-present)
Best Friends Forever (BFF) (2012-present)
The Apprentice (2004-present)
The Biggest Loser (2004-present)
America's Got Talent (2006-present)
The Sing-Off (2009-present)
The Marriage Ref (2010-present)
The Voice (2011-present)
Love in the Wild (2011-present)
Fear Factor (2001-2006, 2011-present)
Betty White's Off Their Rockers (2012-present)
Fashion Star (2012-present)
Escape Routes (2012-present)
Days of our Lives (1965-present)
Saturday Night Live (1975-present)
Last Call with Carson Daly (2002-present)
Late Night with Jimmy Fallon (2009-present)
The Tonight Show with Jay Leno (1992-2009; 2010-present)
Who Do You Think You Are? (2010-present)
Minute to Win It (2010-present)
It's Worth What? (2011-present)
Who's Still Standing? (2011-present)
Saturday morning (under the qubo banner)
Turbo Dogs (2008-present)
Willa's Wild Life (2009-present)
Jane and the Dragon (2012-present)
Miss USA (2003-present)
Miss Universe (2003-present)
The Golden Globe Awards
The NAACP Image Awards (2011-present)
NFL Coverage, which includes:
Football Night in America
Sunday Night Football
The Kickoff Game
The Thanksgiving Classic primetime game
The Super Bowl (every three years)
NFL Wild Card Weekend (Saturday games).
The NHL on NBC, which includes:
The Winter Classic
Saturday and Sunday Game(s) of the Week
Select postseason games
The Stanley Cup Finals
The Olympics (Summer and Winter) through 2020
Notre Dame Football (home games)
The Bayou Classic
The US Army All-American Bowl
The PGA Tour (under the Golf Channel on NBC banner), which includes
The U.S. Open
The U.S. Women's Open
The U.S. Senior Open
The Player's Championship
French Open Tennis
Horse Racing, which includes:
The Triple Crown of Thoroughbred Racing
The Kentucky Derby
The Preakness Stakes
The Belmont Stakes
Santa Anita Derby
The United States Figure Skating Championships
Major League Soccer