Tag Archive for Insurance

Digging deeper into the HAMP guidelines Verifying Monthly Gross Expenses

IF you have questions on what the lenders are looking at in terms of your monthly expenses below is a quick list of what you should know.

Lenders will pull your credit report, verify income from tax returns, transcripts, and other documentation provided by you. Servicer must verify the borrower’s monthly gross expenses as reported by the credit agencies.

a. Monthly primary mortgage, taxes, insurance, condo dues, mortgage insurance premiums etc.

b. Monthly payments on all closed-end subordinate mortgage (second mortgages)

c. Alimony payments, child support and separation payments (in lieu of a final divorce) with no more than 10 months left, if supplied by the borrower. Read more

Benefits Offered By Tax Deferred Annuity & Immediate Annuity Schemes

Are you among the individuals who do not bother about saving money? If you really belong to this category and spend money like there’s no tomorrow, then you had better be alert now. Saving money is one of the most important dos, if you wish to have a better tomorrow. Various sources are available that give you an opportunity to save a particular percentage of your income in order to guarantee a financially stable future for yourself. Insurance companies can be considered as one such source of making an investment that will turn out to be beneficial for you in future after retirement. Some of the plans that have been introduced by these agencies include tax deferred annuity, immediate annuities and many others.

Immediate annuities are the most common types of schemes that are offered by the insurance companies. The old aged individuals make regular investments, which serve to be as a financial support for their advanced stage of life. It is definitely a profitable scheme for the senior citizens as they get an opportunity to earn a significant income after enrolling for these programs. An individual, however, can avail this immediate annuities income benefit for his lifetime or even for a specific range of time. Well, it is left up to the seekers which alternative they want to opt for. As per your desire, you can sign up for the lifetime deal or may also go for an income restricted to a specific time range. Read more