While on Twitter lately, I spotted a fabulous question.

“Is it possible to transfer a domain that expired only a few days ago without renewing it first next initiating transfer which meant paying for the domain twice.”

Most people’s first re-action would be, “No, I don’t think you can. Sorry dude, but you’re stuck with paying twice” but that’s not true. There are circumstances when a domain registrar can reject your transfer. Two of those are

• When your domain has been registered less than 60 days or
• Your last transfer was less than 60 days ago

That’s probably what led to the mis-interpretation that you can’t transfer an expired domain. As enlarged as the domain is still within the 30 or 45 days (depending on your registrar) redemption grace period and the registrar hasn’t begun to delete it, you can initiate a transfer from the new registrar. that can be confirmed on ICANN’s web site.

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Original post by Lynette Chandler

Its back, and its here to stay. amidst TARP, Fed lending programs, a stimulus package, and a spending bill, its not hard to track the inflation trail back. We’ve overcorrected and now each of us is going to pay dearly as the grip of inflation tightens its hold on the economy. Worse […]

Original post by Jordan

Richard Wylie had a reversal of fortune two years ago - but don’t anguish, he’s doing better than before.

Wylie, 75, a retired Cape Coral police officer, got a reverse mortgage on his house under a program regulated by the Federal Housing Administration, which insures the loans.

The program, known as HECM (Home Equity Conversion Mortgage), lets public 62 and older get a reverse mortgage that allows them to get a loan for a positive percentage of the equity they have in their homes. As enlarged as they keep the property up and pay the taxes, the loan doesn’t need to be paid back until the last person on the mortgage dies or leaves the house.

Recent changes made by Congress have increased interest in the program by upping the amount society can borrow (the exact maximum increases as someone grows older), said Bronwyn Belling, reverse mortgage specialist with the American organization of Retired Persons Foundation.

But, she said, getting a HECM loan can be tricky and the law requires borrowers to talk to trained counselors to manufacture certain the complicated process is fully understood.

For one thing, she said, with hefty upfront fees, “whether you take out a reverse mortgage and only stay in the house for a couple of years it’s a very expensive proposition.”

Also, Belling said, borrowers who suddenly have a large chunk of money available to them need to be reminded that they still have to take care of the house and can’t necessarily just run through the windfall.

Sometimes, she said, folks take advantage of naive borrowers by getting them into risky or inappropriate investments.

Wylie said the program worked out well in his case.

“The way I had it set up it paid off my existing mortgage so I didn’t have my mortgage to pay,” effectively increasing his income by $650 a month, he said.

He’s used the additional money to travel and generally enjoy life more, Wylie said, and hasn’t touched the remaining $55,000 he had left by after paying the mortgage. It’s now in a certificate of deposit paying 4.5 percent interest.

Belling said HECM, which accounts for 95 percent of all reverse mortgages, is increasingly popular: the program was created in 1989 but 300,000 of the 500,000 issued have been in the past three years.

But David Johnson of Naples-based Reverse Mortgage Group said actually getting one done in today’s down real estate market can be difficult.

“We’re struggling with appraised values” to get the borrower adequate to pay off his mortgage, which often is the goal, he said.

Borrowers often would have been able to get a better deal before prices fell in the housing break down that has reduced the value of homes, Johnson said. “They should have done a reverse mortgage three or four years ago.”

On the other hand, said Stephanie Kirch of Reverse Mortgage in Naples, borrowers can have poor credit or a recent foreclosure in their past without being disqualified considering the loan is paid off when the house is sold. “I look at that as a lifeline, a Get Out of Jail Free card for seniors.”

Belling cautioned that like traditional mortgages, reverse ones carry risks that didn’t exist a few years ago. “Appreciation is an assumption we all had for years and it’s not a good assumption these days. There’s no guarantee you’ll be able to refinance your house years from now and get more money out of the house.”

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Reverse mortgage: Windfall or problem?

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Representative body, The National data Centre on Retirement Investments (NICRI), has slammed suggestions that retirees, whose principal residence is valued at by $1m, should not receive the aged pension, but rather fund their own retirement using a reverse mortgage.

The suggestion was put forward by Christian charity group, Brotherhood of St Laurence, who said the government should: “include owner-occupied housing as part of the means pop quiz for the age pension for homes of high value, say above $1m. that could include arrangements for reverse mortgages so citizens can remain in their family home while drawing down on its equity to create an income.”

But Wendy Schilg, director of NICRI, said it was concerned about the principle of “Australians being forced to fund their own retirement using equity in their primary residence”.

“We should not expect Mr. and Mrs. Smith to lose their pension and be forced to sell part of their house to put food on the table. They have contributed to the taxation system all their lives and their house is so valuable not considering they are rich, but considering they have owned it for 30 years and property prices have increased.

“While I understand the intention behind the suggestion, I believe that the recommendation is misguided and will aftereffect in detriment to Australia’s cash-poor, asset rich retires.”

Following the launch of its reverse mortgage info service for consumers last month, NICRI, which represents retiree and consumer groups, said calls to moment have shown that reverse mortgages can be a poor choice for some retirees.

“We have found that you have to be a undoubtful type of person to take on a reverse mortgage,” Schilg said.

“Some humans dislike the compounding interest that eats into the equity of their home by moment; others have wanted to sell their home and have encountered break fees in the tens of thousands of dollars.

Retirees are a vulnerable part of our community, and to assume that a reverse mortgage would be suited to everyone is just wrong.”

According to 2008 The Deloitte SEQUAL Reverse Mortgage Study, mortgage brokers and other intermediaries are responsible for distributing nearly half of all new reverse mortgages, in a market worth $2.3bn.

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‘Reverse mortgages cannot be forced on retirees’ [Australia]

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GETTING credit is no simple task these days, even under the best of circumstances - just ask anyone who has applied for a mortgage. But it can be even more problematic for those who are retired, with many facing the triple whammy of declining income, falling home values and dwindling savings from Wall Street’s meltdown.

Looking for a way around the continuing credit crunch, more older citizens are exploring reverse mortgages, which allow homeowners 62 or older to borrow against their equity.

With reverse mortgages, lenders and brokers generally don’t consider credit history. Instead, they look at the applicant’s age, any existing mortgage and the home’s value.

“Many seniors have been able to use reverse mortgages to avoid delinquency or foreclosure, and to help fund their retirement,” said Regina M. Lowrie, a former chairwoman of the Mortgage Bankers organization and the chief executive of Vision Mortgage Capital in Montgomeryville, Pa.

Reverse mortgages have been around for a while, but considering of recent changes now look more appealing. Last month, the economic stimulus package raised the maximum loan amount to $625,500 from $417,000, at least for that year.

New federal guidelines, meanwhile, expand the reach of the loans and compose them slightly more affordable. They cap the fees, which had drawn many complaints for their size and even allow borrowers to use a reverse mortgage to buy a primary residence. Eventually, the program will be offered to co-op owners, although it will be up to co-op boards to decide whether shareholders can take part.

Although still small, the number of reverse mortgages rose 6.4 percent in 2008 from the previous year, to 115,176 loans - all from the home equity conversion mortgage (HECM) program run by the Federal Housing Administration, an arm of HUD, and offered through brokers and lenders. (The credit crunch put an end to private reverse-mortgage loans.) One of the top 10 markets is the New York area, where higher home prices often mean more equity to tap into.

Part of the reason that reverse mortgages have gained in allure, brokers say, is that it has become more difficult to sell a home and move to a less expensive one. plus, some elderly homeowners have been unable to refinance their mortgage or qualify for a traditional home-equity loan considering they cannot meet tighter credit standards.

Elizabeth Gahart, 65, who owns a three-bedroom house and a horse farm on 19 acres in Bridgeton, N.J., with her husband, Ronald, 68, used a reverse mortgage to deal with a financial crisis. “that was the best solution for our situation,” Mrs. Gahart said.

Debt problems had forced the couple to file for bankruptcy protection, and they were in danger of losing their home - and quite possibly, their business raising Arabian horses - to foreclosure.

Because the property they bought nearly seven years ago had appreciated in value, they qualified for a reverse mortgage of around $225,000. They used the proceeds to settle the bankruptcy, retire the primary mortgage, and take out a $4,800 line of credit, which will go toward property taxes and insurance.

But reverse mortgages have their drawbacks. For one thing, they can be expensive, even with the recent caps on fees, which is why they build sense only for those planning to stay put for a while.

Total costs run from around $7,000 to $20,000, brokers say, though they are usually added to the loan balance, along with the interest. In addition to the regular mortgage closing costs, there is an origination fee (capped at $6,000). There is additionally an upfront insurance premium equal to 2 percent of the home’s appraised value or lending limit (up to $625,500), which protects borrowers whether anything happens to the lender and guarantees that the total debt owed will never exceed the home’s value.

“Even whether you live to be 130 years old, you’ll never owe more than the value of the house,” explained Eric Bachman, the chief executive of Golden Gateway Financial in Oakland, Calif., one of the nation’s largest reverse mortgage brokers.

Martin M. Shenkman, a lawyer in Paramus, N.J., specializing in estate and tax planning, considers reverse mortgages “a great tool, when the right circumstances exist.” But considering of the high expenses and the myriad complexities of the loans, he urges homeowners to consider other alternatives first.

For some, he said, it might produce better sense to downsize, or to try to refinance a current mortgage. With property values still declining, he added, homeowners may not be able to borrow as much through a reverse mortgage as they could have a couple of years ago.

Still, Mr. Shenkman acknowledges that the reverse mortgage industry has come a towering way in attracting business and burnishing its reputation, which was sullied by stories from years past of nefarious lenders preying on the elderly. Strict federal guidelines protect borrowers today, and applicants are called for to attend a counseling session before they receive any money.

Many industry and consumer groups, including the AARP (aarp.org), offer education programs for consumers.

“There were misconceptions about reverse mortgages - a lot of folks thought they were giving up their houses, which is simply not true,” said Jonathan Pinard, the president of the Empire State Mortgage Bankers organization, which represents more than 100 mortgage-banking businesses in New York, and whose members speak to various senior groups all through the year.

More recently, efforts have been made to set up additional industry standards for brokers. The Mortgage Bankers organization formed a task force last year for that purpose, while the National Reverse Mortgage Lenders organization plans to have in place by mid-June a certification program for loan officers.

“The reverse mortgage field is one of the few growth areas,” said Peter H. Bell, the president of the reverse mortgage trade group. “There are a lot of new folks entering the field, and that helps the more experienced participants distinguish themselves from the newcomers.”

Mr. Bell and others see even more growth ahead, particularly as the reverse mortgage program continues to expand.

Few borrowers so far have taken advantage of a rule change that lets them use a reverse mortgage - instead of a traditional “forward” mortgage - to buy a home. The main advantage in doing so is that borrowers don’t have to use all the proceeds from a previous home sale, nor do they have to manufacture monthly payments.

Co-op owners contemplating reverse mortgages, meanwhile, will have to wait until HUD completes some technical language, Mr. Bell said.

Mark Draper, a senior loan officer for the reverse mortgage station at Regional Home Mortgage in Clark, N.J., says the prospect of reverse mortgages on co-ops is generating plenty of interest. “My list is getting longer,” he said. “I’m adding at least one client a week.”

Among his clients is Patricia DiLieto, 69, who owns a Westchester co-op. Mrs. DiLieto says a reverse mortgage would help to supplement her fixed income, which has been eaten away by health care costs for her husband, who is in a nursing home after a series of strokes. She said she had been given the go-ahead to take out a reverse mortgage by board members in her building.

Not surprisingly, though, some co-ops are apprehensive. “whether someone is in that position, they are obviously in need of cash,” said Daniel DiBenedetto, the co-op board president at 15 West 11th Street in the East Village. He expressed doubts about a reverse mortgage as a permanent solution to financial problems.

But Elliot Meisel, a real estate lawyer from Manhattan, says that co-ops can easily monitor such borrowing. “I would inspire boards to permit them with appropriate safeguards and tight controls and oversight,” he said.

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The Reverse Gear

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Original post by admin

There are tons of things you can outsource in your business and every business is rare. Here’s a starter list of 20 common tasks outsourced by small business owners, just like you.

1. write-up Writing
2. Blog Post Writing
3. write-up Submission
4. PLR Rewriting
5. Newsletter Creation
6. Affiliate Management
7. Website Creation & Maintenance
8. Blog Installation & Customization
9. Customer Service
10. Video Creation
11. Adding composition to Your Website
12. Project Management
13. Accounting/Bookkeeping
14. Graphic Design
15. Search Engine Optimization
16. Tax Preparation & Filing
17. Press Release Writing & Submission
18. Advertising
19. Cleaning (Office or Home)
20. Training of Employees/Assistants

While the majority of my list works for online businesses, there are several that will work for those who run a brick and mortar business as well (because you do have a website, don’t you?!).

Take the duration to build your own list starting with all the tasks you do in a given day, week or month. prepare a check by those items that you hate doing, could be better done by someone else or you can get done cost-effectively by someone else. next start handing those tasks to someone else.

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Original post by Alice Seba

Homeowners who are unable to sell their homes, or unwilling to lock in huge paper losses, have begun to trade homes with others. The trend, which is creating huge interest among cash strapped homeowners, involves finding another couple willing to invent the housing switch. What was once a buying spree has now turned […]

Original post by Jordan