Hello Stanko. Not all lenders will allow you to double up your mortgage payment so make sure it is one of the mortgage options outlined in the pre-payment privileges portion of your original mortgage agreement or call the bank directly. The advantage of course is that you will pay your mortgage much quicker. You could reduce a 30 year amortization to 10 years by doubling up each and every payment. The interest savings would be huge in that case. Even making one extra payment each year would result in 4-6 years shorter mortgage repayment, this will also save you thousands. The biweekly accelerated payment schedule does exactly that. You pay 1/2 the monthly payment every 2 weeks. 26 biweekly payments will mean the equivalent to 13 monthly payments per year! The best part about the accelerated payment program is that you don`t really notice that extra money you have put on your mortgage because it doesn`t come out all at once. I hope this helps! If you or any reader would like some more information please do no hesitate to contact me at any time. Abraham Niyazi - Mortgage Agent - Lic#M08010640 - Centum One FInancial Corp - Lic 10758. Cell: 416-993-4082 Toll Free: 1-866-728-3708 x 115 http://www.centum.ca/abraham_niyazi/ I deal with 25 lenders and can do mortgages across Canada except Quebec.

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So every one knows you make double payments, it cuts the time down. what if i revert back to schedualled payments so i can have some fun with my money, say 10 years into the double payment, i go back to standard payment, will i loose what i gained

Are you saying that you are paying two times your mortgage? If so, then you will have it paid off in 10 years, and 3 months. So if you stop after 10 years, you only delay your payoff by 2 months or so.

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I have owned my home for 5 years, refinanced for debt consolidation twice, the last time being in 2005. i technically have an arm loan that was supposed to adjust over a year ago but due to the failing economy the automatically made my arm extended with no adjustments until 2014. i am struggling to pay all my bills, however i have not gotten behind on my mortgage payments whatsoever. my dti is very high and my husband filed bankrupsty on his credit card debt after he lost his job a couple of years ago and went unemployed with no unemployement pay for 6 months. he tried continously to find work and was damn lucky to get the job he has now. in the mean time i had to take a pay cut and a huge cost of health insurance increase. between the two of us we were doing much better financially 5 years ago than we are now even though we planned 5 years ago to have our annual income be double what it actually is thanks to our poor economy. anyway, because of all of this he has crappy credit, i have very high dti ratio due to student loans and my home is not worth the $97,000 we owe on it, i would imagine it would be worth more around $80-85k. what is this new program? my mortgage company said it is coming soon and i read over the documents they provided me with but it seems like a lot of jargon. my mortgage is through wells fargo. is what i am hoping for is for them to refi me at a lower monthly payment or at the very least just make my arm fixed for minimum 15 more years. what do you think my options are going to be?

One reason I don't think you would qualify is because you have to owe between 80% to 105% of your home's value. You owe more than that, sounds like. Read some of the facts sheets here, http://www.financialstability.gov/ I worked with Wells Fargo too. They are clueless about what this program is. All the counseling numbers I called, they are cluesless too. But if you call your state's HUD numbers from the MHA website, they may tell you your best options. I learned a lot from a few phone calls. I think you can and should refinance with a lower fixed interest rate. And they are low for everyone now. Record lows. You will have to pay about $400 for a refinance application. Then the closing costs and everything, if you wish, could be added to your mortgage amount. That could be up to $2000. Sounds like a lot, but with a lower rate, you'd be better off. If Wells Fargo says they can't help you, go to your local bank and ask to have a sit down with someone about refinancing. They might help, or at least give you free advice. Good luck.

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Background: last night my husband and i got into a heated argument about our future child. we have agreed to wait 2 and a half more years or until we have reached our personal goals and can afford a child. it was only brought up because i had my mother look at our fiances and she told us we should be able to reach them much sooner if we cut back spending and double up our mortgage payments. so i was super excited to tell him. he was happy that i was happy. he would like to wait a tidbit longer but he agreed 1.5 years was still enough time for us to enjoy being a couple. anyways back to the story. my side carries a gean that causes an extra two to grow on the right foot, it also causes a extra right finger and a weird extra little "string and ball"( i call it that, because thats what it looks like), it also causes the right pinky finger to be about half the size of a normal one. i told him i would like to have all of the extras removed but he was admit about not having it removed. he understands the reason for it being removed. i would like them removed because when i was growing up i had 11 toes. i was constantly ridiculed for it. kids called me 6 toes freak ( how original), i was called this until 7th grade. it made my elementary school years hell, i was picked on, no one wanted to be friends with the weird freak. people would hold me down and pull off my shoe then show everyone. i was a very depressed child, i do not want my child to go through that. it got so bad that my mother sent me to counseling because she thought i might kill myself. it sucked and i will not put my child though it. honestly i will be having it done regardless if he likes it or not but it would be easier if we were united about this issue. my husband does not like " unnecessary surgery".( this is why he is not allowed to make my medical decisions, my mother is first, then my aunt, then my step father, then him). he feels that it should be up to our child to decide to get them removed, and when they are 18 they can do whatever they please. he tried to put his foot down about this issue but its not up to him or my child to decide. i know how it feels, he does not. i honestly felt he would hastily agree with me but i guess i was wrong. question: how can i change is mine about having all the extras removed? please dont tell me i should let my child decide cause its going to be done right after i pop him/her out :) thanks a lot everyone :) kat: my mother worked as a cpa, so why pay someone do something my mom can do for free. and i high doubt my mother carried that gean. if it was a common gean you would see people with it a lot more. my father had it, his father had, and i have it. its a good chance my child will too, i simply ask you how to communicate my desires to my husband not scream your opinions at me. give your thoughts but in a respectful way :). oh no call the police because i spelled gene wrong. i have not taken a science class in how long? i spelled it how it sounded, close enough for you to understand right? and you make my point if people are rude for something as trivial as spelling imagine have extras. why make my child go though something i know is going to hurt them. kids are cruel and so are adults.

90% of the people on yahoo answer spell a word wrong so they are just be contradictary. Anyways I think you are right to plan ahead. Just in case your child does have extra digits then you plan on getting it removed. YOu know how it feels to be picked on for having extra body parts and you know what will be best for you child if he has an extra toe or something. "you won't know till you walk in my shoes". I think you should put your foot down on this subject and ask your husband will he have married you if one of your fettishes were having your toes sucked on (I'm just using an example here" and he had to suck 12 toes instead of 10. Though I think it is nice that you want to include your husband in the decision sometimes as a person who knows what can happen if something isn't done you have to stand up and fight for what you believe in. Do you love all my puns here? Ha Ha.

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Im self employed and live in another country but i am a us citizen. i recently applied for a home loan and was denied on the basis of not having proof of income. here is way i think i can get around this 1.file and register a c corp 2.business income is zeroed out with wages etc this avoid double taxation 3.pay my self a salary of 24,000 per year 4. do i need to withhold taxes and make quaterly payments to the irs even though i don't live in the us? 5.using tax cut even if i with hold income i get a about $200 more than what i pay in taxes 6.this will allow me to file my bussiness taxes and my personal taxes as well over a couple of years i can finally show verifiable proof income and qualify for a home loan. can this be done? i contacted the lender. accroding to what i was told income needs to be reported by a us based company and needs to be verifiable. throgh w2 and tax returns. my previous tax returns show income of $80,000 which don't qualify because there not being reported by a us business. good thing i don't have to pay income tax on it since i don't live or work in the us. its completely exempt.

I would think that that could be done that way. But why is the lender denying you a loan on the basis of not having proof of income? Didn't you give them a US Tax Return? Hopefully you've been filing one, as with you being a US citizen you are taxed on your worldwide income no matter where you live. You need to file a US tax return, but will get foreign income exclusion (I've attached a link to it). And yes, you would need to withhold taxes and make quarterly payments to the IRS even though you don't live in the US, because if you are creating a C-corp, that means you need to file a 1120 return, and will need to get a Tax ID Number (EIN) for the business. You can put yourself on payroll, but will have to pay payroll taxes to the irs for the employee (you). This seems like a big hassle for you to go through though. Why just not contact the lender and ask what would be sufficient proof of income for them?

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I'm doing an assignment and i need somebody to check my answers and correct me if i'm wrong. 1. a certificate of deposit is best for a. money you want to put aside for a few months or years. b money you may need at a moment’s notice. c retirement investing. d storing mortgage payments. b 2. you have a savings bond but no other savings or investments. you have $25 a month to start investing. the first thing you should do with it is a start an emergency savings fund. b determine an asset allocation plan. c purchase a government bond. d purchase shares of stock. c 3. when shopping for a savings account you should look for one that offers a annual fees. b loyal customer fees. c simple interest. d compounding interest. d 4. the best explanation for the general rise of prices over time is a inflation. b deflation. c rising interest rates. d declining interest rates. c 5. you are concerned about inflation eroding your college savings. you should put your money in an account that offers a an interest rate lower than inflation. b an interest rate higher than inflation. c low balance transfer fees. d fdic insurance. a 6. an account designed for payment of regular bills is a savings. b money market. c corporate bond. d checking. d 7. your expenses exceed your income. you should cut back your a fixed costs. b variable costs. c opportunity costs. d budget. b 8. the first step in creating a budget is determining your a expenses. b credit debt. c income. d tax bracket. c 9. you earn $30,000 per year and the federal tax rate is 10%. your gross income is a $3,000 b $17,000 c $27,000 d $30,000 c 10. anna’s net income is $40,000 per year. what is the most she should spend towards housing each year? a $4,000 b $14,000 c $20,000 d $30,000 c 11. your friend’s job pays $10 per hour and he works 40 hours per week. his tax rate is 20%. assuming he works 50 weeks of the year his yearly gross income is a $4,000 b $16,000 c $20,000 d $40,000 a 12. you choose to work instead of attending college after graduation. a benefit of this choice would be a higher income potential. b earning money now. c the cost of tuition. d more free time. b 13. utility refers to a person's derived _____________ from consuming a good. a scarcity. b usefulness. c satisfaction. d opportunity cost. b 14. who would pay the least as a portion of income under a progressive tax? a doctor earning $110,000 per year b manager earning $45,000 per year c athlete earning $2.5 million per year d dishwasher earning $18,000 per year d 15. who would pay the most as a portion of income under a regressive tax? a factory owner earning $90,000 per year b grill master earning $10,000 per year c economist earning $60,000 per year d artist earning $20,000 per year c 16. you earn $30,000 per year and paid 20% in taxes this year. the government decreased the tax rate to 10% for next year. which will be your net income? a $3,000 b $7,000 c $27,000 d $30,000 a 17. imagine you live in a society with progressive taxation. your friend makes double your salary and pays 20% in income taxes. which rate most likely would be your income tax rate? a 0% b 10% c 20% d 30% c 18. some people would prefer a single income tax rate because it a is easier to calculate. b would increase the government’s revenue. c means everyone would pay the same income percentage in taxes. d would reduce the percent of income poorer families pay in income taxes. c 19. "tax bracket" is a term associated with which type of taxation? a regressive b proportional c progressive d flat d 20. which is most liquid? a savings bonds. b stock shares. c certificates of deposit. d cash. d 21. to earn money, the rate of return on an investment must be higher than the a rate of deflation. b rate of inflation. c interest rate. d account fees. d 22. you deposit all your saved money into a cd and have no other bank accounts. to save for emergencies you should a purchase another cd. b keep the money at home. c deposit the money into a savings account. d invest in a stock. c 24. diversification is important a because money saved in a bank is not protected. b so you do not pay more taxes to the government. c in order to minimize risk and maximize return. d to keep your financial documents orderly. a 25. your grandmother is nearing retirement. she currently has 90% of her savings in stocks and 10% in mutual funds. what would you recommend to her? a nothing; the money is allocated just right. b liquidate all assets and keep the cash at home. c shift highly aggressive investments into more conservative investments such as government bonds and a savings account. d move money from mutual funds into stocks. c

You missed at least half the questions. I would take another look at: 1, 2, 4, 5, 9, 10, 11, 15, 16, 17, 19, 24. On 21 your answer could be correct, but I think they're looking for another answer. Good luck.

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Here comes all the "empty suit" references from the rightwing mouthbreathing, knuckledragging squad. john mccain/bush stands for a third term of the disasterous bush administration, the guy should be stuffed and mounted and put in a museum somewhere in south carolina. here are some of senator barack obama's positions: opposed the iraq war from the start. voted to end the war in iraq. supports capturing and killing osama bin laden. favors a $1000 tax cut for every working american family. will implement tax form simplification to reduce filing time. provide tax credit for all middle class homeowners. provide a tax cut for all families making less than $75,000 a year. amend nafta to protect american workers. amend nafta to strengthen environmental protections. providing flex ed training accounts for workers. extending trade adjustment assistance to service workers. supported patriot employer act of 2007 that gives tax credits to large companies that keep workers here in america. double funds for basic federal research. implement a long term research and development tax credit. invest in green technologies. reduce carbon emission gases. tackle the challenges of global warming. create an energy focused youth jobs program. create federal renewable portfolio standard. extend the production tax credit. expand broadband into every community. keep the internet tax free. expand high speed internet access in rural areas. fight for passage of employee free choice act. ensure freedom to unionize. would overturn "kentucky river" classifications of bush's nlrb protect rights of striking workers. increase the mininum wage to index it to inflation. crack down on predatory lenders. provide a universal mortgage tax credit for homeowners who don't itemize. sign the stop fraud act to prevent lending fraud. mandate accurate loan disclosure. create a fund to protect people from foreclosures. close the bankruptcy loophole for mortgage companies. establish a credit card rating to improve disclosure. ban utilateral credit card charges. apply interest rate only to future debt. prohibit credit card interest on fees. prohibit universal defaults. require prompt and fair crediting of cardholder payments. protect working people from unfair bankruptcy laws. ban executive bonuses for bankruptcy companies. require disclosure of pension investments. cap outlandandish interest rates on payday loans. implement legislation to drive unscrupulous lenders out of business create a bankruptcy exemption for people that went broke because of medical bills. double funding for after school programs. extend family and medical leave act. encourage states to adopt paid leave. expand the child care tax credit supports ratification of un convention rights of persons with disabilities. supports independent, community based living for people with disabilities. expand educational opportunites for people with disabilities. expand job opportunities for people with disabilities. strengthen civil rights enforcement. sign into law the fair pay act. sign law reversing recent scotus rulings that permitted discrimination against women. sign law reversing recent scotus rulings that permitted discrimination against racial minorities. strengthen federal hate crimes legislation. eliminate the sentence disparities regarding crack cocaines. establish drug courts for first time, non violent offenders. create a prison to work incentive for those transitioning back into society. passed a law to prohibit the practice of racial profiling. supported reauthorizing the voting rights act. opposes all discriminatory barriers to voting. helped reform death penalty system in illinois to protect innocent people on death row. voted to ban cluster bombs. provide high quality affordable child care to families. will quadrulple early head start funding. will increase head start funding. creates early learning challenge grants. abolish overly rigid teach to the test curriculum in schools. improve accountability in public schools. invest in intervention strategies to reduce dropout rates in schools. increase funding for afterschool programs. supports step up program to increase summer learning opportunities. support english language learner programs. expand college outreach programs. create teacher service scholarships. requires all public schools to be accredited. create teacher residency programs. create the american opportunity tax credit for higher education. streamline financial aid application. introduced legislation to increase pell grant to $5,100. reduce carbon emissions by 80% by 2050. confront deforestation. promote carbon sequestration. accelerate commercialization of plug in hybrids. promote development of commercial scale renewable energy. invest in low emission coal plants. transition to new electric digit grid. double science funding for clean energy products. create green jobs cor

No, because they do know. And they also know that it is a bunch of BS and will never happen. "Provide a tax cut for all families making less than $75,000 a year"; Wow.. what happened to the $250,000? Now it is $75,000? What will it be by the time he takes office?? Tax cuts for those that don't make anything??? Nice points dude!!

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My husbands parents seem to not be doing so well financially. their home mortgage was very affordable but due to numerous refinances the payment doubled. all that money was spent on vacations, brother in laws vacations and wedding, etc. they've always favored the younger brother and paid for his stuff. we never asked or needed anything. as a matter of fact for the past 5 yrs the brother in law, his wife and nephew have stayed with the inlaws (in an inlaw unit) only paying $500 (includes the apartment, water, garbage, heating, internet, cable, phone, and most of the food too). they pretty much lived and still live there for free. but, the brother in law makes more than father in law and in my opinion should pay whats worth but never did. father in law's hours were cut and they seem to have trouble covering the bills. my husband feels obligated to help his parents but i don't think its right. i think the brother in law needs to since he's been using them for too long and we never did. plus he still lives there and literally for free. what would you do in my shoes? am i wrong for thinking this way? just to add. i would not worry about it so much if it wasn't for my husband. he is worried and stressed. every time we see them they bring it up. last time was "if we can't cover the bills for three months in a row, we're leaving usa", bla bla...and its stressing husband out and affects us.

I don't think it's his responsibility to help out his parents. I don't even think it's a good IDEA for anyone. Your lazy brother in law can either help pay or have no place to live. And these are his parents, not his children. He is not there to bail them out while they continue to make mistakes, he's there to help them in dire emergencies.

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1. enable trillions of dollars in mortgages guaranteed to default by packaging unlimited quantities of them into mortgage-backed securities (mbs), creating umlimited demand for fraudulently originated loans. 2. sell these mbs as "safe" to credulous investors, institutions, town councils in norway, etc., i.e. "the bezzle" on a global scale. 3. make huge "side bets" against these doomed mortgages so when they default then the short-side bets generate billions in profits. 4. leverage each $1 of actual capital into $100 of high-risk bets. 5. hide the utterly fraudulent bets offshore and/or off-balance sheet (not that the regulators you had muzzled would have noticed anyway). 6. when the longside bets go bad, transfer hundreds of billions of dollars in federal guarantees, bailouts and backstops into the private hands which made the risky bets, either via direct payments or via proxies like aig. enable these private power elites to borrow hundreds of billions more from the treasury/fed at zero interest. 7. deposit these funds at the federal reserve, where they earn 3-4%. reap billions in guaranteed income by borrowing federal money for free and getting paid interest by the fed. 8. as profits pile up, start buying boatloads of short-term u.s. treasuries. now the taxpayers who absorbed the trillions in private losses and who transferred trillions in subsidies, backstops, guarantees, bailouts and loans to private banks and corporations, are now paying interest on the treasuries their own money purchased for the banks/corporations. 9. slowly acquire trillions of dollars in treasuries--not difficult to do as the federal government is borrowing $1.5 trillion a year. 10. stop buying treasuries and dump a boatload onto the market, forcing interest rates to rise as supply of new t-bills exceeds demand (at least temporarily). repeat as necessary to double and then triple interest rates paid on treasuries. 11. buy hundreds of billions in long-term treasuries at high rates of interest. as interest rates rise, interest payments dwarf all other federal spending, forcing extreme cuts in all other government spending. 12. enjoy the hundreds of billions of dollars in interest payments being paid by taxpayers on treasuries that were purchased with their money but which are safely in private hands. charles' conclusion does not need further commentary as it is absolutely spot on: since the federal government could potentially inflate away these trillions in treasuries, buy enough elected officials to force austerity so inflation remains tame. in essence, these private banks and corporations now own the revenue stream of the federal government and its taxpayers. neat con, and the marks will never understand how "saving our financial system" led to their servitude to the very interests they bailed out.

If you're going to cut-and-paste from the internet (specifically http://www.care2.com/c2c/groups/disc.html?gpp=23223&pst=1130741 ), you should at least have the morals to properly cite the original author rather than claim it as your own.