7 Facts on Mortgage Refinancing

By Chris Edison

Getting a refinance on your mortgage is common practice nowadays due to the drop in interest rates and the receptiveness of borrowers toward the idea of refinancing. Although many have vouched for its benefits, house owners should evaluate their personal preferences, financial standing, and current mortgage status and compare these with the various options available before planning their next move.

There are many facts surrounding the concept of refinancing and this article will provide you with an insight of important aspects which you need to know in order to make an informed decision. Refinancing your mortgage is for the long-term and thus needs to be a choice that is thoroughly considered.

1. Penalty Costs
The process of refinancing basically means paying off your current mortgage and obtaining another mortgage at a different interest rate (usually at an adjustable rate) and loan term. This causes penalty costs to be imposed on your current mortgage by your current lender, as you have opted to pay off your loan earlier than agreed upon. Occasionally, depending on the status of your current loan, penalties incurred may be higher than the cost savings obtained from refinancing your mortgage, therefore making the idea of refinancing no longer attractive.

2. Savings on monthly repayments
When you refinance your mortgage, you may most likely switch to a new mortgage structure that will benefit you in the long run, especially with lower monthly repayments. With the availability of Adjustable Rate Mortgages, interests incurred are relatively lower than the traditional Fixed Rate Mortgages, which has been incentive enough for home owners to switch their mortgage loan plans. However, although interest rates may seem to be lower at first glance, home buyers should practice due diligence in tabulating the actual amounts paid over the long term in comparison with their current mortgage repayments.

3. Transactions costs
As with any mortgage transactions, a refinancing exercise will involve transaction costs such as attorney fees, points, appraisal fees, inspection fees and prepayment penalties. All these hike up the cost of refinancing, which need to be balanced out with the cost savings obtained from switching loans in the first place. As a rule of thumb, if you plan to stay in your current property for the long-term, transaction costs will be offset with savings in repayment amounts over the long-run. Therefore, refinancing will then be a good option for you.

4. Tax deduction possible
Refinancing may help you regain tax deductions on interest if you have already used up your allocated amount for tax deductions. Therefore, with a new mortgage, you will be able to deduct interests paid from your taxable income, thus helping to reduce your taxes payable.

5. Get cash out of your equity
Read this full story: 7 Facts on Mortgage Refinancing

Front yard decorations get more elaborate for WVC couple

A West Valley man does not need many hands to make light work — he has two to make 18,000 of them light up his front yard.

Dan Nelson has made and bought Christmas decorations for about eight years, and he is planning to expand his collection.

“Every year, I just want it to be brighter,” Nelson said. “I have more lights in my shed — in boxes that I don’t take out — than most people put up.”

“I think he’s obsessed, but I think it’s a good obsession,” said Jewel Nelson, his wife.

Dan Nelson, an architect, became fond of making Christmas decorations after a friend had asked Nelson to help with his. Ironically, the friend lived on Christmas Street.

Nelson got hooked.

“People go on vacations, and I buy Christmas lights,” he said.

In his front yard, Nelson has 10 ?plywood angels representing his granddaughters and 11 gingerbread boys representing grandsons. Each of them has a name written on it, and its eyes are painted, respective to the grandchild it represents.

Nelson said he made 21 reindeer for his friends and family members during the second year.

Among other decorations are reindeer and moose, three wise men and a nativity scene, a snowman, two soldier boys and pine trees, all decked out in lights and connected to 10 outlets. Onlookers can also hear Christmas songs in the background.

Nelson said he started getting his house into a festive mood the week before Halloween. He has since spent every weekend adding decorations.

Although the rest of Bluebird Drive doesn’t shine as brightly as the Nelsons’ home, neighbors don’t seem to mind. One of the neighbors, Randy Garcia, let Dan Nelson use a corner of his yard to set up some moose and pine trees.

“We’re actually waiting for Dan to expand all the way over,” Garcia said.

Nelson’s lights shine from 5 to 10 p.m. every night and help Rocky Mountain Power survive the country’s economic crisis.

“I don’t look at [the electricity bill],” Dan Nelson said. “We’re on a year-round [billing plan], and it goes up every year. I probably wouldn’t do this if I looked at it.”

He said that he’s trying to buy more LED lights, which run cooler and therefore save energy.

“It’s not like we’re saving anything because he keeps adding more stuff,” Jewel Nelson said.

Read full source - Front yard decorations get more elaborate for WVC couple

The Snoring Has to Stop!

We all long for a quiet night’s rest. But, for some of us, the snoring just blasts our eardrums!

It’s loud and it’s irritating. But, is it serious?

Patti from Pitman, N.J. e-mailed:

“My snoring wakes me up. Could this be a warning of a problem?”

Sometimes, snoring can just be annoying to your bed partner and annoying to yourself. But, sometimes, snoring can be the indication of a more serious problem like sleep apnea.

Sleep apnea is a common condition that leads to interrupted breathing for very short periods of time during sleep, usually the result of narrowed airways. Untreated, it can lead to health problems including, high blood pressure, memory problems, weight gain, and headaches.

“It’s associated with nighttime awaking or daytime sleepiness, so if that’s something that is occurring where you snore at night, you awake and feel tired, you’re sleepy during the day, you should talk to your doctor about perhaps having a sleep study done,” Dr. Helena Schotland said.

Doctors may recommend a device called a CPAP, which helps keep the airway open.

Darrell from Philadelphia asked:

“I have sleep apnea, but the device hurts my nose.”

“Just because you don’t like your particular mask doesn’t mean that you are stuck with it. There are a huge number of masks. Some are nasal masks that go over your nose. Some are nose and mouth. There are also little nasal pillows that are just little prongs that go over your nostril that are great for people with claustrophobia,” Dr. Schotland said.

Other treatments include:

Weight loss
Sleeping on your side instead of on your back
Read full story - The Snoring Has to Stop!

Corporate spies clean up - The financial crisis means boom times for spooks-for-hire

The financial crisis means boom times for spooks-for-hire.

By Barney Gimbel, writer
Last Updated: December 8, 2008: 11:16 AM ET

NEW YORK (Fortune) — If James Bond’s “License to Kill” gets revoked, he’d have no problem finding work as a corporate spy. To the short list of sectors that stand to gain from the financial crisis, add corporate intelligence firms.

They are seeing a dramatic uptick in business from a surge of banks, private equity firms, and hedge funds that need to make sure those pesky multimillion-dollar investments they made when times were good will hold up.

Firms like Control Risks, a London-based risk consultancy staffed by ex-CIA agents, and its rival, New York-based Kroll say they have seen a 20% jump in new business over the past two months. Together the two firms control the majority of the market.

These spook outfits have long carved out a lucrative business investigating corporate fraud, performing due diligence, or simply ferreting out the things not on a balance sheet - be they a company’s shady associates in Brazil or corrupt investors in Texas.

But in the recent heady times, some fast-moving investment outlets cut corners.

Now they are hoping to save face - and money - before precarious deals fall apart altogether. “The tolerance for failure has diminished,” says Jim Brooks, who heads North American operations for Control Risks.

Already, spies-for-hire are finding a couple of embarrassing flubs.

Consider the more than $300 million that one international bank lent to a sketchy Russian magnate (we’d tell you who it was, but then we’d have to kill you). When he stopped paying his bills, the bank brought in Control Risks to find out where the money had gone. (They found the Russian could have funneled money out of the country through various, seemingly unrelated shell companies.)

Full story: Corporate spies clean up - The financial crisis means boom times for spooks-for-hire

Women Who Breastfeed Are More Likely to Shed Their Baby Weight 6 Months After Giving Birth, Study Shows

By Caroline Wilbert
WebMD Health News

Dec. 8, 2008 — Breastfeeding may help new mothers shed the baby weight.

A new study examines the relationship between breastfeeding and postpartum weight retention. The study, which looked at data for more than 25,000 women participating in the Danish National Birth Cohort, measured how long women breastfed and also how intensely. Each woman received a breastfeeding score. Results showed that women with higher breastfeeding scores were more likely to lose their pregnancy weight six months after giving birth.

Researchers concluded that women who gain a reasonable amount during pregnancy and breastfeed exclusively are likely to lose all pregnancy weight six months after giving birth. They also estimate that women who breastfeed retain 2 kilograms (4.4 pounds) less than women who don’t breastfeed at six months after giving birth.

Participants, all recruited by their doctors during their first prenatal visit, were interviewed four times — twice during pregnancy, as well as six months after giving birth and 18 months after giving birth. They answered questions about their weight and how they were feeding their babies.

Read this full article - Breastfeeding Helps Moms Lose Weight

Stop snoring with SnorePro?

We get some odd-ball press releases and story pitches here at TechFlash HQ. And this one, from a Fremont, Calif.-based company that has developed a $99.99 anti-snoring device called SnorePro certainly would qualify.

“HBI-USA, a biomedical device company, announced today its new SnorePro which uses its proprietary Dynamic Snore Detection (DSD) technology to precisely detect snores and to gently issue a programmable digital pulse to prevent snoring. The digital pulse functions like a spouse by nudging their snoring bedmate, which in turn trains the body to change sleep positions to eliminate the snoring. Bedmates of snorers lose an average of one hour of sleep per night due to snoring. The stimulation may disturb the snorer; however, it helps their bedmates to enjoy and regain sleep as they won’t have to nudge the snorer any more.”

Described as a wrist-watch style device with a built-in LCD screen, the press release goes on to say that the SnorePro can track the improvements of the snorer over time.

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Different Types of Taxi Insurance

Looking at the increasing number of road accidents, as well as vehicle theft, insurance for your vehicle is a must. Getting coverage for a vehicle means that at the time of damage or theft, the company from whom the policy is taken will cover the cost of damages, or will pay for the cost of the vehicle in case of theft. Many of the firms are offering insurance policies on a commercial basis as well, one example being the introduction of taxi insurance in which cover is provided for taxis, cabs and even vans. Private hire insurance policies, as well as public hire insurance policies, are two types of taxi insurance policies available. In comparison to the public hire insurance policy, private hire insurance policies are a lot more expensive as they involve a higher risk.

These types of taxi insurances are very popular these days, as having taxis for public as well as private hire includes a lot of risks, and not opting for any kind of insurance policy will make the running of taxis unaffordable. But one must also be very careful in choosing the company from whom the insurance is obtained, as it is a very specialised field, and very few companies are providing it at genuine prices. Getting a cheap taxi insurance policy may not be a very hard nut to crack because of the competition between the companies.

Obtaining these taxi insurance policies is very easy, as one may register directly over the net or can even consult any executive from the taxi insurance company. The best way to get cheap taxi insurance is to directly get in contact with the wholesale insurance agents as they are well trained and can calculate the minimum amount of premium required to obtain a taxi insurance policy. The prices, or the premium, of the policy is relatively cheap, if there is a good number of a taxis included in the policy. Apart from this, there are three types of taxi insurance policies offered by companies and they are: third party, fully comprehensive, and third party fire & theft.

Read full article: Different Types of Taxi Insurance

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