Your Personal Finance Source!

 
 
by: Nick Messe

It is not always easy to deal with creditors especially when you are deep down in debt troubles. The best way to help yourself is hire a good lawyer who can deal with these issues for you. Let us look at the two important options available to those facing huge debt burdens with no way to pay them back. The two most common choices are bankruptcy and debt consolidation.

You can file for bankruptcy if you have legally impaired your ability to repay your creditors. Creditors have recourse by filing involuntary bankruptcy to get back a part of the money they have lent to you, or to at least initiate restructuring. When the insolvent debtor himself initiates the proceedings, it is known as voluntary bankruptcy.

Debt consolidation is a method of taking one big loan to pay off many other loans. This helps the debtor to secure a fixed interest rate for repayment and usually the rates are quite a bit lower than the problem loans that are presently in place. Debt consolidation could be a move from many unsecured loans to a new single unsecured loan. However to achieve good flat rates, the debtor can choose to move to a secured loan that is issued against some kind of a collateral, usually a house. Since this reduces the risk to the lender, the rate of interest for such a secured loan is pretty low.

Bankruptcy and debt consolidation are both good ways to get out of debt traps. It is important to choose the one that suits you and this decision can be wisely made by comparing the pros and cons of both systems. Debt consolidation is quite different from bankruptcy in the way the creditors are paid off. While bankruptcy means settling all debts at one go, debt consolidation gets rid of all your creditors, but in turn leaves you with a bigger loan to pay off. In most cases, debt consolidation must include any properties. With bankruptcy your home is usually kept out of the proceedings.

Many people try to avoid bankruptcy fearing that this will destroy their credit report ratings for many years and compromise their chances of getting more credit in the near future. These beliefs are two of the most common bankruptcy myths. While running from bankruptcy to debt consolidation, a person is taking on an even larger burden on their shoulders, in the form of one huge loan that they have to repay. Bankruptcy, on the other hand, relieves you of a long set of responsibilities all at once, and gets you on the road to rebuilding your life.

In the case of credit card loans, it is best to get rid of these early by filing for bankruptcy, rather than making payments that include huge amounts of interest, for what could be years. People who are wallowing under the huge pressure of debt may find it hard to choose the best way out of their tricky situation. During these difficult times, the best friend they can have guiding them towards the sunshine at the end of the tunnel, is their lawyer..
 
 
by: Shushmul Maheshwari

RNCOS has recently added a new Market Research Report titled, “Global Mobile TV Forecast to 2013” to its report gallery. The mobile TV market has been continuously witnessing significant development across the world over the past few years, driven by the ability of this technology to stream television content on the move. The mobile TV services have already been launched in some parts of the world, albeit in a limited area and to only targeted audience; meanwhile, a number of carriers and technology companies have been working on the rollout of mobile TV throughout the world.

Anticipating the high growth potential in the global mobile TV market, our team of experts has done thorough research and analysis of the current and future prospects of mobile TV market worldwide. Our report, “Global Mobile TV Forecast to 2013” has been made to help clients gain deeper insight of the current and future trends and developments in the global mobile TV market.

The report covers various aspects of the mobile TV market worldwide. It gives detailed analysis of the mobile TV market in terms of total subscribers, subscribers by technology and service revenues. Each section succinctly explains the current and future market trends and developments in the global mobile TV market, which is projected to grow at CAGR of more than 46% from now to 2013.

With such high growth potential, our research foresees immense opportunities for various industry players including mobile operators, content providers, handset manufacturers, etc. Besides this, we have also comprehensively analyzed the regional markets, helping the clients to understand the mobile TV trends and developments across various regions. A number of key countries have been focused upon to analyze the factors which are an indication of regional trends and developments.

Our research also highlights the factors which are inevitable for the anticipated growth in the global mobile TV market over the forecast period. For instance, we believe that the success mantra for mobile TV market worldwide lies in the operators’ service pricing models coupled with the availability of handsets that support wide picture quality at high data transfer.

Extensive analysis of various business models have also been done that will help operators increase their revenues by offering mobile TV services. The study also evaluates various strategies that will help operators maximize the returns.

The Mobile TV market can be a great way to reach out to your customers in the future.  When you think about it, one thing that nearly everyone has on them at all times is their cell phone.  With advances in technology, including better screens, faster operating systems and download speeds
 
 
By:  Antonio Machado

Although the economy seems as though things are getting back on track with the DOW above 10,000 again and financials are gaining again the crisis isn't over yet.  Unemployment is still on the rise, banks are still filing for bankruptcy, the dollar is steadily weakening and our imports are still on the rise.  To top all of this off, the bottom has yet to fall out of the Commercial real estate and consumer credit markets.    Although in comparision, the commerical real estate market at $3.5 Trillion dwarfs the residential real estate market at $11 Trillion dollars the impact of the defaults will still be felt with many more companies filing for bankrupcty increased bank failures.

Recently the countries second largest shopping mall developer, General Growth Properties, owning 200 Malls filed for bankrupcty protection.  They were unsuccessful in renegotiating loan terms.  More companies are finding it difficult to renegotiate the terms on their commercial mortgages and as a result will lose their properties.  (This is a great opportunity to get in there and pick up some properties.  See this story of the acquisition of the Silverdome for $583,000 !!!!!  Originally constructed in 1975 for $55.7Million .  In the right hands that's a good deal!)

All of these events will cause increased unemployment and increased inflation.  How can we protect ourselves and also take advantage of this opportunity.  I think the biggest thing is to begin with the basics.  First, I would focus on paying off all of my revolving debt mainly credit cards as quickly as possible!  The banks are raising rates and decreasing credit lines.  If your balance is more than 50% of your available credit limit then that will reflect negatively on your credit report.  With the banks making adjustments to credit limits without advanced notice it's best to just pay it off as quickly as you can.  Also, I would focus on building up at least 3-6 months savings for living expenses in the event of an emergency.  Ideally shoot for 6 months, but if the absolute best you can do is 3 months then it's better to have something than nothing.   Eventhough the rates you earn may not be that great right now due to the FED's low interest rates you can explore short term CD's , or MMA's which will provide you with a better rate.  Ideally is to find a rate that at least keeps up with inflation so that you aren't losing money.

After you have this foundation, I would look for potential real estate investments, and stocks to invest in.  This second financial crisis wave is going to come soon.  Perhaps it won't be as severe as the first wave, but it will still be felt by us all.

Protect yourself, prepare for emergencies, position yourself to gain from the failure of the system.
 
 
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by:  Antonio Machado

Eventhough this news is not really related to personal finance I feel compelled to post this on the blog.  It has been announced that Oprah will officially end her talk show in September 2011.  I believe Oprah represents to many the American dream.  An African American woman who came from very humble beginings with the odds stacked against her yet she became the incredible success that she is today.  Oprah's talk show has influenced millions of people all over.

While mentioning Oprah's influence, I would like to bring up the Oprah Effect. 
I'm not sure how many have heard of the Oprah effect but it is an attestation to her level of influence over the American public.  Currently, Oprah's audience is around 44 Million people every week.  When Oprah comes across a product that she really likes and features it on her show those businesses become overnight successes!  There have been a countless number of cases.  In short, you still have some time to get on the show before it's too late.  I believe her viewership is going to increase over the next few months due to her ending the show, so get on it!

View Oprah's Bio here.

 
 
by: Antonio Machado

This year is flying by so fast I can't believe Thanksgiving is next Thursday!  As usual the day after turky day is retailers biggest sales day of the year.  Typically retailers withhold the details on some of the deals that they will offer, however, this year they let the faucet drip.  This was done with hopes of luring in bargain hungry piranhas.  So, what exactly are some of the deals  out there?  I found the following excerpt:

CNN Money explains what shoppers can expect find at Walmart on November 27. According to sources, there will be HDTVs, laptops, toys, and Blu-ray players for the grabbing. Confirmed products include a 50-inch Sanyo 720p plasma TV for $598, a Magnavox Blu-ray player for $78, and a GPS from TomTom for $59.

And across the urban sprawl at Target? A lot of the same, actually. There, you can get a 32-inch LCD HDTV from Westinghouse for $246, some toys for 50 percent off, and toasters and coffeemakers for just $3. Best Buy will reportedly offer shoppers a 50-inch Samsung plasma TV for $898, "huge discounts" on GPS units, and a PlayStation 3 Slim with two games for $300.

 
I don't know about you all but $598 for a 50" PLASMA TV!!  I'm EXCITED!!!!  Just make sure if you prepare and go with full body armour to avoid another New York incident.  I RECOMMEND YOU LEAVE YOUR KIDS AT HOME.  BESIDES I THINK THEY WOULD MUCH RATHER APPRECIATE THE EXTRA SLEEP ANYWAYS AS CHANCES ARE YOU'RE GOING CHRISTMAS SHOPPING!   How many children understand the concept of delayed gratification?


Check out hot deals all the time by clicking here and get 2% cash back on purchases.  If you have a credit card that gives you cash back then you can get cash back from your credit card as well as the online shopping mall.
 
 
by: Thomas Sullivan

The information presented here is designed to provide a benefit to anyone who must answer questions during the dreaded job interview. The main point presented here is that the key to a successful job interview is preparation. The following discussion expounds on this key point.

While some tough job interview questions take us off guard, others we can see coming a mile away. How we answer job interview questions will make the difference between getting and not getting the job. We all have questions that we'd rather not be asked during an interview. But how can one prepare completely for a tough interview?

The answer to this question really comes down to intense preparatory work. In a nutshell, do your homework. Make sure that you know your resume thoroughly and expect questions to come from your work history. Also, expect questions about the company you want to work for and the type of future you want in that company, and finally, expect questions about you. You should use several large lists of questions in preparation for the interview. Below, you will find a list of tough job interview questions, which should be helpful in preparation for the job interview.

While the questions below are pretty standard and can be expected at most job interviews, you should also create your own questions. In creating your questions in preparation for an interview, you really need to sit down and think through what you would ask if you were the interviewer. Remember that the person interviewing you has a job to do as well. If you can provide a good answer to most of the questions below, and to the questions you have created, you have increased the probability of obtaining the job you are seeking.

Obviously during a job interview, regardless of your personality, you need to be congenial and polite. Try not to appear nervous as well. Most importantly, try to appear confident in yourself but not to the point of appearing cocky. Remember, the interviewer is not only trying to select the best candidate for the job, they also want to be sure that you will be compatible with other employees you will be working with. Also, remember that the interviewer is trying their best to find any red flags that may be present in your past work history.

The following is a list of questions you can expect at most job interviews. You most likely will not be asked all of these questions, but you can expect some of them. Many of these questions come from About.com, and some were created by our staff.


Job Interview Questions: Work History:

-What is the name of the company you worked for and what titles or positions did you hold?
-In a nutshell, describe what you did at your previous company.
-When were your employed by this company?
-What were your expectations for your previous job and to what extent were they met?
-What were your starting and final levels of compensation?
-What were your responsibilities?
-What major challenges and problems did you face? How did you handle them?
-What did you like or dislike about your previous job?
-Which was most and least rewarding?
-What was the biggest accomplishment and failure in this position?
-Why are you leaving your current job?
-Why were you fired?
-What was the most enjoyable aspect of your previous job?

Job Interview Questions: About Your Supervisors and Co-Workers:
-What was it like working for your supervisor?
-What do you expect from a supervisor?
-Who was your best boss and who was the worst?
-What is the ideal co-worker?
-What is the ideal boss?

Job Interview Questions: About You :
-What is your greatest weakness?
-What is your greatest strength?
-In terms of your current or last position, describe a typical work week for yourself.
-Do you take work home with you?
-How many hours do you normally work per week including work completed at home?
-How would you describe the pace at which you work?
-How do you handle stress and pressure?
-In terms of your career, what motivates you to move upward and attain further success?
-What are your salary expectations?
-What do you find are the most difficult decisions to make?
-Tell me about yourself.
-What has been the greatest disappointment in your life?
-What has been your greatest accomplishments in your life?
-What are you passionate about?
-What are your pet peeves?
-What do people most often criticize about you?
-When was the last time you were angry? What happened?
-If you could relive the last 10 years of your life, what would you do differently?
-If the people who know you were asked why you should be hired, what would they say?
-Do you prefer to work independently or on a team?
-Give some examples of teamwork.
-Were you responsible for any major projects at your last position, and if so, please describe in a nutshell the project you were responsible for.
-What type of work environment do you prefer?
-How do you evaluate success?
-Have you ever given a work related presentation to a group of people greater then 10, and if so, how did that work out?
-If you know your boss is 100% wrong about something how would you handle it?
-Describe a difficult work situation or project and how you overcame it.
-Describe a time when your workload was heavy and how you handled it.
-What have you been doing since your last job?

Job Interview Questions: About the New Job and the Company:
-What interests you about this job?
-Why do you want this job?
-What applicable attributes or experience do you have?
-Are you overqualified for this job?
-What can you do for this company?
-What do you know about this company?
-Why do you want to work here?
-What challenges are you looking for in a position?
-What can you contribute to this company?
-Are you willing to travel?
-Is there anything I haven't told you about the job or company that you would like to know?
-How do you plan to move up within our company?
-What is the highest level you wish to be promoted within our company?
-Why should we select you for this job?

Job Interview Questions: The Future:
-What are you looking for in your next job?
-What are your career goals for the next five years and ten years?
-How do you plan to achieve those goals?
-How long would you like to stay with our company and why?
-What are your salary requirements - both short-term and long-term?
-What will you do if you don't get this position?

Once again, the key to a successful job interview is preparation. When you are completely prepared, you will tend to be less nervous. Of course, it is highly likely you will be presented with a question or two that you did not expect. This is why preparation also entails having the knowledge base that you can expect the interviewer will tap into.

Here I am not talking about the knowledge needed to do the job. That should be a given anyway, otherwise you would have not been asked to be at the interview. Here I am talking about knowing yourself and your attitudes, and being able to present your attitudes in a way the interviewer can appreciate. It does not hurt to let the interviewer know what really makes you tick, if the interview goes in that direction.

Make sure that you display an enthusiastic attitude. Make sure you present to the interviewer a willingness to learn and a desire to advance in the company you are about to potentially work for. You do not want to appear as if you are lacking seriousness and definitely do not appear cavalier. Try to appear enthusiastic and positive in a mature and professional way. If you are naturally an enthusiastic and positive type of person, then half the battle is won. The point is to be your self, but try to present the best of who you are.

Remember this, many employers prefer a less educated candidate with fewer credentials who is bright and willing to learn, over one who is more prepared but lacks the proper attitude. A good example of this is the entrepreneur who wants to launch a new business. For him or her who is starting a new venture, hiring someone who is bright and has the right attitude is extremely important. More important then previous education. In this case, the entrepreneur is looking for someone who is not afraid to take risks and is very much goal oriented. Here it is very important that you display to the interviewer your ability to work as part of a team. The 9 to 5 type worker who expects to work basically the same hours 5 days a week would not fit well here. And the interviewer needs to know this.

To conclude, in the end, most interviewers are looking for the right attitude for the job they are trying to fill. If you also have the right credentials along with the right attitude, then your chances are increased tremendously. If you can answer most of the above questions, display an enthusiastic attitude, and present yourself in the best possible way, this should result in you obtaining the job you are seeking.
 
 
I found the following article a while ago and thought this was pretty amazing so I decided to post it on the blog.

Although you aren't enrolled in any of these institutions as a matriculating student, you will receive FREE knowledge from top Universities in the US!  GO GET A "FREE" EDUCATION!!!!  Remember, continually expanding our knowledge is important, and applying what we learn afterwards is power.

By Pat Regnier, Money Magazine assistant managing editor Last Updated: October 30, 2009: 9:18 AM ET 

Last autumn I took time off to go back to school. The timing turned out to be just right: My American economic history course at the University of California at Berkeley got to the Great Depression in early October, around the time everyone became convinced we were about to have another one.

The professor, a former Treasury official named Brad DeLong, had no shortage of opinions on what needed to be done about the current crisis. Hearing those arguments in the context of the Depression's grim history made the stakes especially vivid.

Okay, so I never actually went to Berkeley. My "time off" consisted of jogs over the Brooklyn Bridge listening to lectures I had downloaded from iTunes. I took no tests, wrote no papers, and got no credit. It was a shadow of the experience of taking a real course. But my virtual auditing still made me smarter on the job as my colleagues and I tried to figure out how to respond to the crisis. And it was free.

If you want to keep up to date in your field (or explore a new one), take a look at what universities are giving away on the web.

School's open The easiest way to get started is to explore the offerings on the three sites in the table at right. Schools are experimenting, and it's still a mixed bag of stuff out there.

A few schools post full semesters of lectures, some just one-offs; others offer only written class materials such as study guides and syllabuses. Nothing's for credit. But you should find plenty of material relevant to your career: computer science classes at Stanford, interviews with top faculty at Wharton, and economist Robert Shiller's Financial Markets course at Yale.

Not that it's all about work. I brought Yale professor David Blight's lectures on the Civil War with me on vacation -- and found them so engrossing that I forgot all about the novels in my suitcase.

Making it matter I can see here the glimmer of a solution to a nagging problem. Mid-career professionals too often find that their skills are obsolete and that employers are no longer interested in providing career ladders. We'd like to invest in our skills. But a $25,000 to $100,000 grad school stint can be a speculative bet.

A master's degree may signal to employers that you're a clever person who got into grad school. But the effect is muted when you already have a 20- or 30-year-long work history speaking for you. So unless you know exactly what you want -- you need an MBA to get promoted, for example -- you may be better off putting ideas in your brain free than putting more credentials on your résumé. For now, at least.

There are lots of potential price-tags between free and the cost of a degree (or even a course credit). Joel Thierstein, an associate provost at Rice University, says the next big step in education might be for schools and other organizations to provide super-focused certifications.

Instead of an MBA, perhaps you could take a test showing that you have a grip on, say, two management topics that apply to your specific career -- whether you learned it in class or with "open-source" material available online. It's cool idea, and I'd sign up. In this crazy economy, I'll take any edge I can get.
   First Published: October 29, 2009: 4:16 AM ET
 
 
 by: Nick

Without question, one of the enablers in many fraudulent mortgage lending schemes has been a crooked appraiser willing to give a property any value that the Realtor, mortgage broker, or lender wanted. The real estate bubble could not have been inflated to such a high level without the complicity of many appraisers who threw all conservatism out the window and began giving properties ridiculous values in order to help secure loans.

Now, with the housing market collapsing all around us, these appraisers have had to go back to valuing homes at more reasonable levels. However, this leaves many homeowners out in the cold, having received inflated appraisals just a few years ago and now finding out their homes were never worth that amount. What recourse, though, do these borrowers have, especially when they fall into foreclosure ?

The degree of appraisal inflation and fraud has been found to be astronomical in too many cases already. Homeowners have discovered that their home's value was inflated by up to 1,000% of its non-bubble price. The typical mortgage insured by the Federal Housing Administration (FHA) is inflated by 30-50% in order to raise prices of property on first-time home buyers and low income borrowers.

So clearly, there is a problem with a large number of appraisals, but homeowners may have trouble holding the individual appraiser or his company liable for the inflated value. However, there are a number of different claims that can be brought against an appraiser that blatantly misrepresented the actual fair market value of a home, especially if the borrowers relied on that appraisal in their decision to buy or refinance.

The most obvious claim borrowers may be able to bring against an appraiser is fraud due to the misrepresentation of the home's value. While valuing a home is sometimes just as much art as science, obviously using inappropriate comparable sales or making unreasonable adjustments to justify a higher value can be a clear case of fraud.

The only problem with this claim that homeowners may find is that the conditions may be hard to meet. For example, the borrowers will need to show all nine elements are present for a fraud claim to be made. Unfortunately, this may be easier said than done, and homeowners may want to contact an attorney to discuss the potential of a fraud case in more depth. These nine elements are the following:

1. representation of an existing fact.
2. the fact is material.
3. the representation of the fact is false.
4. the speaker knows it is false.
5. the speaker intends the listener acts on the knowledge.
6. the listener is ignorant of the falsity.
7. the listener relies on the truth of the fact.
8. the listener has a right to rely on it.
9. damages are suffered by the listener.

Far more promising as a claim against appraisers is state Unfair and Deceptive Acts and Practices (UDAP) statutes. This claim is also somewhat easier to make. The reliance on the misrepresentation does not have to be show, and some of the other conditions are also loosened. Homeowners should contact a lawyer or do some research on their state's UDAP laws, however, to find out all of the relevant information.

There are also a number of other claims that can be made against an appraiser, either in or out of foreclosure. Depending on the circumstances of the case, some of these include violations of state licensing laws, civil conspiracy, fraudulent concealment, and civil RICO claims. Again, it may be in the homeowners' best interests to speak with legal counsel or research these issues in depth before making a claim.

Far too many homeowners were given the most expensive mortgages they qualified for and their home values were inflated to justify the large loans. Appraisers played a role in these transactions, and many of the most corrupt may have engaged in acts that carry significant legal liability. Especially in cases where a lender pushes homeowners into foreclosure, doing some research on these issues and holding the appraiser accountable may be called for.