LOAN | INSURANCE | MORTGAGE

The Best Type of Insurance For Your Cleaning Company - What is the difference between being insured or bonded? Is it better for your cleaning company to be insured or bonded? When you are going into your clients homes and doing work being insured is very important. It will put your clients at ease. Most of the time the reason that you are cleaning their home is because they are just too busy so when you go there to clean your client will not be home. If something gets broke or comes up missing then this where your insurance will cover you. Even though your company did not take the item it will still look bad for your business.

This is why if you do not have insurance then most people will not hire you. When you are starting up a cleaning company the best insurance for you would be general liability insurance. This type of insurance covers you if something accidentally gets broken or damaged. It also covers you
if you were to get injured while on the job. The price of the insurance depends on certain things. It depends on the amount of employees you have and also your business track record. Depending on the services that you offer can also cause the price of your insurance to go up. Two examples of these services are window services, disaster clean. Depending on all of these factors will determine how much you are going to pay for insurance.

A bond is similar to insurance it protects the client and you because if something were to go missing or broke then your client would get reimbursed from your bond. In the cleaning industry the best type of bond is a fidelity bond. This kind of bond works by if one of the employees that you hire do end up taking something then the bond will pay the client after the court case.

Another bond that is good to have when you are running this type of business is the surety bond. This type of bond is not a necessity but it sure will make you clients feel more comfortable hiring you. This type of bond guarantees your work. It means that if your client was not given the service that was promised to them then the customer can go through you insurance to get reimbursed. The customer can either get their money back or the insurance will pay for them to hire another cleaning company.

Technically you do not need to have these types of insurance but it will help with getting your business jobs and it also protect you if something were to go wrong. Even if you may never need to actually use these types of insurance it is definitely not a waste of funds. Just having your customers know that they are covered will be great when developing trust with your customers.


By Matthew McKernan

Finding the right car insurance for you in Salt Lake City is easy if you know how insurers calculate premiums. Several factors are taken into consideration, including your age, sex, occupation, and the size, type, and age of your car.


There is no one custom policy that is suitable for everyone; in fact an auto insurance policy can be very unique to the individual. The right policy for someone else could be completely wrong for you. Understanding the following facts about car insurance can help you find the best deal for you in Salt Lake City.

Corona, and congratulations on your decision to investigate further into the "new" life insurance plan versus the "old" life insurance plan. In the following paragraphs, I will disclose the reason why this information can benefit your family financially, and give you peace of mind and possibly save a lot of money. Do not we all need that?

The first reason and the main withering why it is so beneficial for you to look into the "new" life insurance plan, is that people live longer. This led to the "death table" used by life insurance companies to calculate the interest rate, to show a lower number of deaths per thousand at different ages of people in the mortality table, which consequently has led to lower life insurance rates, due to reduced risk for Insurance Companies, reasonable?

Another reason, is that there are some companies here that now include "life benefits" in the "new" life insurance policy at no additional cost! These benefits include access to some amount of your face if you have to have a critical or chronic illness, such as heart attacks, strokes, cancer, etc. That cause you can not do 2 of 6 "daily activities of life", such as feeding, , transferring, bathing, dressing, continuous. If your medical doctor diagnoses that you can not do two listed activities, you will be able to access dollars from your "new" policy, to pay for home care or nursing care, you know, the check is sent directly to you. , the owner of the policy. This means that if you prefer family members to take care of you, your wish is granted. This coverage can not be called "long-term care insurance, but you decide if it's the same or not

Many people also pay for separate policies for critical and chronic care, and it is up to the individual whether they continue to bring this type of policy, because if you need to access your face count, of course, reduce life insurance payable upon your death. But at least the "new" insurance plan gives you a choice, the "old" only pays if you die, period.

So I hope you can understand why it is to your advantage to get a comparison, you will not lose anything. You can even ask for on-line comparisons. A detailed comparison can be sent by email and there really is no need for an agent to visit you unless that's what you want, and that's not what we're hoping for!

However, once you have the opportunity to see how much money you can save, how much coverage you can provide for your family, and how much life benefit you can receive, it will be very beneficial when you see it!

Thank you very much for reading, and hopefully this information is useful for you!

If you agree that it may benefit you to look into the "new" life insurance plan, I urge you to contact your agency for detailed and detailed comparisons today. If you lose contact with your agent, I will gladly email you without any fees or obligations to you. If you are shopping for term life insurance for the first time, call or email me today, and I'll be happy to give you a detailed quote for this fantastic product. email: incomeprotectionpro@gmail.com or call me at 813-610-4638 ... Tom Goldtrap [http://www.advisorsintegrityofflorida.com]

Mortgage Loan Modifications and Settlements – Affording Your Home

Over the past several years, the recession has triggered an explosion of mortgage defaults, propelling an unimaginable number of houses into foreclosure. In fact, since 2007, more than 4 million U.S. homes have been foreclosed upon, and the number is expected to continue climbing.

Before a bank can foreclose on a home, its owner must be in default on his or her mortgage payments for a period of 60 days or more. At times, refinancing a home is the primary option. Another one for homeowners facing foreclosure is to attempt to have the terms of the mortgage modified.

Mortgage Loan Modification Makes Homes More Affordable

With mortgage modification, the goal is to convince the lender to renegotiate the agreement in order to make the mortgage payments affordable again. That way, the borrower can remain in his or her home.

The advantage to the lender is that the loan will generate some reimbursement and it will not have to spend the effort, time and money to foreclose. It is estimated that a bank loses an average of $60,000 every time it forecloses on a home.

A loan modification includes one or more of the following :

Many times, borrowers are able to work directly with their lenders to modify their mortgage. During the height of the real estate collapse, however, many lenders were unwilling to work with distressed homeowners wishing to modify their loan agreements. In addition, because so many mortgages had been sold, it was often difficult to determine who owned, or was empowered to modify the terms of, a particular mortgage.

Creation of HAMP

In 2009, the U.S. Treasury Department, in collaboration with banks, loan-service providers, credit unions and various federal departments, formed the Home Affordable Modification Program (HAMP). The program’s aim was to get struggling homeowners together with their lenders, in order to renegotiate their loans and prevent foreclosures.

Most conventional loans, including prime, sub-prime and adjustable-rate loans, are eligible for modification under HAMP. Servicers of loans owned or guaranteed by Fannie Mae and Freddie Mac are required to participate; other lenders have a choice. More than 100 major lenders have signed onto the program, which is set to expire in December 2013. By November 2011, 751,000 HAMP modifications had been made, and another 910,000 HAMP modifications had been started.

To apply for a modification under HAMP, a borrower must:

Participating servicers under HAMP are required to modify all eligible loans to reduce monthly payments to no more than 31 percent of a homeowner’s gross monthly income. To do so, a servicer will reduce the loan’s interest rate to as low as 2 percent and may extend the term of the loan up to 40 years. Finally, a servicer can defer a portion of the principal amount owed, or forgive part of the principal.

Before a loan can be officially modified, the homeowner must make on-time payments over the course of a three-month trial period. Homeowners who qualify for a permanent modification under HAMP are not required to pay a modification fee or pay past-due late fees.

Government Settlement Helps Homeowners

A $25 billion legal settlement between the government, and 49 states and five of the nation’s largest banks is providing more help for struggling homeowners.

The settlement came over charges of systemic and widespread mortgage fraud. The five banks — Ally Financial, Bank of America, Citigroup, JPMorgan Chase and Wells Fargo — handle payments on more than half of the nation’s almost 60 million home loans.

In addition to mandating comprehensive reform measures relating to mortgage servicing practices, terms of the agreement include the following payments from the banks:

According to the settlement, servicers must fulfill their obligations within three years.

Also, the deal only applies to privately held mortgages and not to those owned or guaranteed by mortgage giants Fannie Mae and Freddie Mac, which own about half of the nation’s mortgages.

Al Krulick

Every year, U.S. households pay $3.5 billion in interest for payday loans, with the annual percentage rates ranging from 200 percent to 500 percent. What starts as a short-term loan becomes a long-term debt cycle.


Payday lenders follow a specific business model, target repeat customers (often minorities), charge fees that build over time without offering feasible payment plans, borrow from big banks and function with few regulations.

The ease of the process and the easy access to cash make payday lending appealing to many consumers.

Payday Lenders Prey on the Poor

Payday loans are offered at payday loan stores, check-cashing places, pawn shops and some banks. Payday loan stores are open longer than typical bank hours, allowing easy access to cash regardless of the time of day.

Payday lending requires a borrower to write a check to a lender for the amount of a loan, usually around $300, plus a fee, which will be kept by the lender. The lender agrees to wait to deposit the check until the borrower has received his or her next paycheck. Since most people receive paychecks on a biweekly basis, the typical loan period is two weeks or less.

Once the next paycheck comes in, the borrower may choose to let the check go through, return to the lender and pay in cash, or pay another fee to let the loan roll over to the next pay period. Payday lenders charge fees for bounced checks and can even sue borrowers for bad checks.

The process allows those who have little or no credit to quickly access cash. Lenders do not check borrowers’ credit scores, nor do they report borrowers’ activity to credit bureaus.

Lenders require borrowers to earn at least $1,000 a month and to provide the following :

Payday lenders often seek out locations in impoverished and minority neighborhoods.

A typical borrower has one or more of the following characteristics :

Nearly everyone who visits a payday lender has been there before. It is unusual for a customer to go to a store, pay the two-week fee and then never return. Just 2 percent of payday loans are taken out by single-use customers.

It is estimated that 90 percent of business is generated by borrowers with five or more loans per year, with the average user taking out nine loans per year. Each of these loans charges a fee when it’s taken out and with each rollover.

The Credit Research Center at Georgetown University’s McDonough School of Business notes these common characteristics of payday customers: limited credit availability, history of borrowing from a pawn shop in the last five years, history of filing for bankruptcy in the past five years, or history of making late payments on mortgage or consumer debt in the last year.

Payday lenders also target military personnel. One in five active-duty military personnel were payday borrowers in 2005. But since 2007, the Department of Defense has prevented lenders from requiring a check from borrowers, and the annual percentage rate for military borrowers has been capped at 36 percent.

Some states require payday lenders to be at least a quarter of a mile from each other and 500 feet from homes — similar to the restrictions on sexually oriented businesses.
Payday Lenders Promise a Debt Cycle

Instead of advertising their three-digit interest rates, lenders focus on the price-per-$100 fee, leading customers to believe the equation works in their favor. Lenders typically charge around $15 or more for every $100 loaned. And since payday loans are not often paid off after two weeks, the annual percentage rate (APR) keeps growing and growing.

So an average $200 two-week loan, with $30 in fees, would amount to an APR of 391 percent.

Computing the annual percentage rate (APR) for payday loans can be done in a few simple steps.

Research shows that many customers using payday loans are unaware of the high interest rates and focus more on the so-called fees. The Truth in Lending Act of 2000 required that the APR be released on payday loans. Focusing on the fee alone prevents customers from shopping around and comparing APRs that banks and credit unions may offer. For example, many credit cards charge a cash advance fee of 4 or 5 percent, with a 25 percent annual interest rate.

The problem is many customers have maxed out their credit cards or have had to close their credit card accounts.

Customers may utilize payday lenders for emergency services like doctors visits or car problems. If a paycheck does not stretch far enough to cover utilities, rent or other bills, consumers will use payday lenders. The difficulty occurs when the loan is due, because by then it is time to pay the next month’s cycle of bills. So, users are forced to take out another loan to keep up with their regular bills.

The majority of payday borrowers function in this way, either paying a fee to roll over a loan for two more weeks or taking out new loans, immersing them into a dangerous cycle of debt.
Banks and Regulation

This practice of payday lending is not limited to small payday shops, as banks both offer similar programs to accountholders and make loans to the payday lenders themselves. Wells Fargo, U.S. Bank and Fifth Third offer payday loan products with annual interest rates up to 102 percent. Wells Fargo, Bank of America and JPMorgan Chase all lend money to payday lenders. Together, big banks provide $1.5 billion in credit to publicly held payday loan companies.

These banks provide money to lenders at a low interest rate. The banks borrow money from the Federal Reserve at an even lower interest rate. Meanwhile, consumers are faced with three-digit interest rates to pay for food, medical care and car repairs.

Regulating payday lending poses many difficulties, as laws that apply to banks do not apply to payday lenders. The Consumer Federation of America reports that 17 states have laws preventing high-cost lending. States achieve this by prohibiting payday lending or setting interest rate caps.

The U.S. Consumer Financial Protection Bureau, which was created in 2011, oversees payday lenders and other consumer financial services. Consumers can register complaints with this group, as well.

The Center for Responsible Lending Organization recommends these regulations for payday lenders:

Despite recommendations and regulations, payday lenders continue to prosper by taking advantage of impoverished communities. Faced with an emergency situation — or regular monthly bills — many consumers feel like they have little choice but to engage payday lenders — and be trapped by an irrecoverable debt cycle.

Al Krulick