Financial Help Web

Wachovia and Overdraft Protection

2008-07-30T16:39:00.000-07:00

Consumers will want to take a look at our parent company's site today. One of their most recent complaints involves a consumer who reports that Wachovia closed a savings account without notice.

According to the consumer, the savings account provided overdraft protection for a checking account. With the savings account closed, the checking account's balance went haywire.

This was a savvy consumer who happens to own a business, not someone opening their first bank account. In today's uncertain financial times, interest rates on long-term notes are shifting, lines of credit are being slashed and pre-approved offers are being yanked for using other accounts at "certain types" of businesses.

The markets are scared, and the financial players who hold so much power, are even more scared. You need to be completing a monthly audit of all of your accounts, verifying interest rates, credit limits and other account details.

Buying A Foreclosed Home? The FDIC Wants You To Read First

2008-07-28T15:30:00.000-07:00

Home foreclosures can offer great bargains—and real risks. The steepest discounts are found at auction, but you have to buy the home sight unseen, in cash.

Pre-foreclosure sales—prior to auction—are less risky, and provide savings of 10 to 20 percent. But you deal directly with the owners and may even have to close the purchase within 30 days, depending on the state.

To help you get that loan, for a foreclosed home or any other home on the market, take a look at “The New Climate For Mortgage Borrowers, a free microsite from the FDIC

eBay Stock Gets Eaten By Bears

2008-07-17T11:24:00.000-07:00

One would hope growing profit 20 percent plus at a mature company would be enough in these troubled financial times to hold off the bear market, but Internet shopping site eBay learned otherwise today.

On a day when the S&P again climbed, eBay (NASDAQ: EBY) was hammered by investors despite beating estimates. Less than two hours before the market's close, EBY stock was trading down almost 15 percent, pushing the P/E ratio to over 75.

eBay announced yesterday that executive Lorrie Norrington would run the company's eBay Marketplaces division, a post once held by CEO John Donahoe. Norrington replaces long time eBay executive and former CFO Rajiv Dutta, who is leaving the company. Dutta had also previously run eBay's Skype and PayPal divisions.

We continue to suggest consumers seek advice from a licensed professional for investing and other financial matters.

IRS Mileage Rate Increases For 2008 Reimbursement

2008-06-24T09:29:00.000-07:00

Fuel surcharges, explicit and hidden, continue impacting consumer prices. Virtually every travel method from taxis to airplanes to trucking has included hefty fuel surcharges. Even local merchants who deliver are doing the same.

The Internal Revenue Service (IRS) is generally good about increasing the reimbursement rate for mileage used while using your car for business or as a personal tax deduction (perhaps if you itemize and your out of pocket medical qualifies). What the IRS has traditionally not been good at is changing the rate in response to a market condition in the middle of a tax year.

Not anymore.

The agency everyone loves to pound on is cranking the mileage deductible rate to 58.5 cents next week on July 1. The increase is more than 15%, and if your vehicle is averaging 20 miles per gallon, the 8 cent increase in the mileage deduction rate effectively decreases your cost per gallon by $1.60.

The deductible rate for medical purposes will rise to 27 cents.

Here Come Hydrogen Cars As Oil Rebounds and Americans Hypermile

2008-06-16T05:51:00.000-07:00

If you haven't been watching the news much lately, they're Honda's marketing coup. A mix of science fiction and global environmentalism, fuel cell cars are real and here to stay.

Saudi Arabia announced this weekend that they they would boost oil output to its highest level in 27 years. Asian and European exchanges had initially reacted favorably to the news, but now are seeing prices bounce back over $135.

Meanwhile, neither you nor your friends will be getting a Honda Clarity any time soon unless you're a Hollywood star or finance mogul, but the zero emissions vehicle's debut may be a landmark moment like the launch of Sputnik. While doing little by itself in terms of space exploration, Sputnik ushered in a generation of possibilities. The launch of the tiny Soviet spacecraft enabled John F. Kennedy several short years later to declare that the United States would put a man on the moon. What a pity none have returned.

Meanwhile, Honda announced today that three Southern California dealerships would form the first distribution network for fuel -- long seen by economists as one of the vehicle's major impediments. The world's industry still remains oil-dependent, but you will be able to tell your descendants that one day, long ago, you remember when the first zero emissions vehicles rolled off the assembly line.

How Derivatives Trading Toppled A Giant, But Don't Credit A Single Person

2008-05-25T09:52:00.000-07:00

Rogue traders like Nick Leeson have been a part of of the financial landscape for years. Leeson was the young trader who destroyed Barings Bank in the early 1990s. That was the UK equivalent of Bear Stearns disappearing over a weekend. Shortly after that, Orange County, California faced a similar billion dollar loss through derviatives trading.

Derivatives Trading Defined

Most personal investors never have to worry or learn about derivatives, but you should be paying attention if your financial advisor or fund is using them as a hedge. At their core, derivatives are a financial instrument investors use to hedge their investment or even to bet against a market's general direction.

Derivatives usually involve a commitment to buy or sell a certain investment at a future date at a currently agreed upon price. Those investments can be anything from stocks to currency against another currency to a commodity.

If you saw the Eddie Murphy and Dan Akroyd movie Trading Places, released a generation ago, the orange juice futures being traded were essentially a derivative. And while you may not find a public exchange trading orange juice futures, you can certainly find public exchanges trading oil, gold and even soybean futures.

Because these trades are often made on margin (remember the margin call at the end of the movie), derivatives are a fast way to lose a lot of money while putting up only a fraction of the amount.

Why Derivatives Are Important Now

A billion dollars is the new million say many big investors so a headline of a trader causing a billion dollar drop doesn't necessarily destroy an institution any more.

During the beginning of 2008, however, France's Societe General (also called SocGen) announced that a young trader without authorization had dummied records and plunged the bank into the derivatives market while losing more than $7 billion.

The crisis reverberated through the financial and political communities. French officials were outraged that a 145 year old legendary institution was teetering on the brink of failure. No one understood how a 31 year old non-executive trader could enter derivative trades greater than the value of SocGen's market capitalization.

New reports out this weekend suggest that the trader, Jerome Kerviel, may have had at least one accomplice at a more senior level.

Given the relatively easy going Kerviel has experienced, we always wondered how far up SocGen's ladder the trading was known. The coming weeks will undoubtedly prove challenging for the bank and indeed for European institutions. If Countrywide and CDOs are the poster children of the financial crisis in the US, SocGen's $7 billion derivatives loss may be Europe's.

Why do derivatives matter to you as an individual investor? Because you need to know how much risk you are willing to assume and then you need to see what your funds and other investments are doing in the derivatives market.

One celebrity investor who isn't going anywhere near the derivatives pool is Warren Buffett. The renowned investor told Reuters (as published in today's New York Times) that "It's not right that hundreds of thousands of jobs are being eliminated, that entire industrial sectors in the real economy are being wiped out by financial bets even though the sectors are actually in good health."

We agree with Warren. We usually do. And on this long weekend, you should see how much of your own investments are tied up in this high risk-high reward area.

[mortgage] Adjustable Rate Mortgage Book Available

2008-03-15T12:58:00.000-07:00

Although adjustable-rate mortgages (ARMs) have recently been affecting many homeowners negatively, they’re still available.

If you’re in the market for a house, you should know what they are and how they might affect you.

Unlike fixed-rate loans where the interest rate stays the same for the life of the loan, the interest rate on an ARM changes periodically, usually in relation to an index. As a result, your monthly mortgage payments may go up substantially, especially if you received a low introductory rate.

Find out more, including how ARMs work, issues borrowers may face, and ways to reduce risks with the Consumer Handbook On Adjustable Rate Mortgages. This informative publication from the Federal Reserve Board costs $1.00.

For your copy, send your name, address, and a check or money order for $1.00 to:

Federal Citizen Information Center
Dept. 349R
Pueblo, CO 81009

You can also call toll-free 1 (888) 8 PUEBLO, and ask for Item 349R.

Tax Audits

2007-12-01T15:14:00.000-08:00

Many tax filers worry that the IRS is going to call on them to be audited. Those tax filers may be stressing out over nothing. The IRS actually only audits a very small percentage of individual tax returns. A computer-based model runs the selection process and goes by a certain set of standards. If the figures on your tax return are largely different from the standards that the computer is using, that would increase your chances of being audited greatly.

The IRS groups tax returns together and from there they choose which ones will be audited. Unfortunately, the IRS does not give information on the actual details that they use to create these groupings. If they did give out such information, there would be many people trying to outwit the system.

Red flags are set off at the IRS when an abnormally low income or large amounts of deductions are reported. You may not be audited but the IRS may contact you for an explanation. Depending on the answers that are given, an audit may ensue.

No one likes to be audited but just because you are, doesn't mean things are going to turn out for the worse. As long as you are honest and double check your figures the first time around, you should be fine.

Be aware though that Congress has given the IRS a bigger budget for conducting audits. It was necessary because hundreds of billions of dollars have been lost by those who cheat on their taxes.

Home Sales Lowest in Five Years

2007-11-16T13:56:00.000-08:00

According to a trade group for real estate agents, 2007 is forecasted to be the lowest in sales of existing homes in the U.S in five years. The monthly forecast from the National Association of Realtors calls for existing home sales to fall 12.7 percent this year to 5.66 million, down from 6.48 million last year.

The outlook for 2008 is worsening but the trade group's chief economist, Lawrence Yun, said the housing market is likely to experience a "modest" recovery next year as the mortgage markets stabilize. "It is possible for even higher home sales activity than we're forecasting if buyers regain their confidence," he said in a prepared statement.

-- L. Morse

Taxpayers Beware of Recent E-mail Scams

2007-10-02T11:58:00.000-07:00

With internet usage so high these days, e-mail scams are on the rise. The most recent scams have been targeting taxpayers. Here are a few scams to look out for:

The IRS warns of a recent e-mail scam tells taxpayers that the IRS has calculated their "fiscal activity" and that they are eligible to receive a tax refund of a certain amount. Taxpayers receive a page of, or are sent to, a Web site (titled "Get Your Tax Refund!") that copies the appearance of the genuine "Where's My Refund?" interactive page on the genuine IRS Web site. Like the real "Where's My Refund?" page, taxpayers are asked to enter their SSNs and filing status. However, the phony Web page asks taxpayers to enter their credit card account numbers instead of the exact amount of refund as shown on their tax return, as the real "Where's My Refund?" page does. Moreover, the IRS does not send e-mails to taxpayers to advise them of refunds or to request financial information.

Another scam that the Internal Revenue Service is warning taxpayers about is a new phishing scam, in which an e-mail purporting to come from the IRS advises taxpayers they can receive $80 by filling out an online customer satisfaction survey. The IRS urges taxpayers to ignore this solicitation and not provide any requested information. The IRS does not initiate contact with taxpayers through e-mail.

Last but not least, consumers have received a "Tax Avoidance Investigation" e-mail claiming to come from the IRS' "Fraud Department" in which the recipient is asked to complete an "investigation form," for which there is a link contained in the e-mail, because of possible fraud that the recipient committed. It is believed that clicking on the link may activate a Trojan Horse.

The IRS does not send out unsolicited e-mails or ask for detailed personal and financial information. Additionally, the IRS never asks people for the PIN numbers, passwords or similar secret access information for their credit card, bank or other financial accounts.

"Everyone should beware of these scam artists," said Kevin M. Brown, Acting IRS Commissioner. "Always exercise caution when you receive unsolicited e-mails or e-mails from senders you don't know."

Recipients of questionable e-mails claiming to come from the IRS should not open any attachments or click on any links contained in the e-mails. Instead, they should forward the e-mails to phishing@irs.gov.

-- L. Morse

Technorati Profile

Federal Reserve Cuts Key Interest Rate

2007-09-18T12:56:00.000-07:00

Stocks went soaring today as a result of the Federal Reserve cutting its key interest rate from 5.25% to 4.75% and the discount rate from 5.75% to 5.25%. The move thrilled Wall Street because not only is this the first time in four years that the Federal Reserve cut its key interest rate, but the cuts were larger than most expected. Within seconds of the Fed's 2:15 p.m. ET announcement, the Dow Jones industrials had a gain of more than 220 points.

The Fed hopes that this cut will reduce the possibility of the economy sliding into a recession. "The tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally," the Fed's statement on its decision said. "Today's action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time."

The federal funds rate or key interest rate is what banks charge each other for overnight loans and is the basis for everything from business loans to credit card charges. The discount rate is what the Fed charges member institutions directly for short-term loans.

-- L. Morse

Multilevel Marketing Schemes

2007-09-15T14:03:00.000-07:00

Investors are often warned about new investment scams by state and federal regulators but two tried and true scams aren't often mentioned even though they continue to trap investors. Pyramid and multilevel marketing schemes are in full swing now that people are desperately looking for better returns in a declining market.

Most all pyramid promotions are illegal because members earn money from getting people to pay to participate in the operation. When new members can't be recruited, the pyramid collapses.

With a legitimate multilevel marketer, participants make money selling products or services and by getting commissions on sales made by their own recruits, not just by paying a fee and getting others to pay a fee to join the organization.

According to the Federal Trade Commission, investors need to be very cautious before joining because it is difficult to tell the difference between a legitimate multilevel marketing scheme from a pyramid scheme. If you are approached with a money-making proposition promising easy earnings or inflated investment returns, you need to be skeptical. Be sure to obtain a lot of information and be sure a proven record is shown.

-- L. Morse

Need A Job? Head Out West!

2007-08-31T11:13:00.000-07:00

Employers out West are struggling to fill jobs due to a record low unemployment rate. Unemployment rates have been as low as 2 percent this year in Montana and nearly as low in neighboring states. Businesses are being forced to pay more and to recruit workers more creatively.

A McDonalds in Montana advertised in the local newspaper offering $10 and hour to compete with higher paying oil field jobs. The only calls they received regarding the ad were from other business owners who were upset that they would have to also raise wages. Then the current workers at McDonalds complained because they felt they deserved a pay hike. The owner of another fast-food joint found himself outsourcing the drive-thru window to a Texas telemarketing firm, because he couldn't find workers.

The effects are everywhere. Logging equipment in Idaho sits idle as companies have a tough time finding workers. A shortage of lifeguards has forced Helena to shorten hours at children-only pools. A local paper in Jackson, Wyoming has page after page of help-wanted ads.

According to economists, there are a number of reasons why parts of the West are feeling the pinch. The biggest reason is that established baby boomers, including retirees, have been moving into Montana for the mountain views and recreation. Younger people have been moving away, searching for bigger paychecks as the state's wages still lag behind other areas.

Economist, Larry Swanson says, "We thought the labor force crunch wouldn't come until 2012, but it's already arrived in a lot of these fast-growth areas." As a result, he said, "you'll find older workers working longer. People will sort of linger in the work force. The employers will make it worth their time to."

-- L. Morse

Credit Card Companies and College Campuses

2007-08-27T16:50:00.000-07:00

It's that time of the year when students start heading to or back to college. As they do, parents need to be aware that credit card companies will be right there to meet and greet them.

Unbelievably, credit card companies with offers of easy money bombard college campuses for students. You can find credit card companies marketing themselves on campus with incentives like T-shirts and water bottles in exchange for a completed credit card application. Credit card companies target students because they have a higher earning potential and most times, remain loyal to their first card, said Jeanette Tucker, a family economist at the Louisiana State University AgCenter. According to surveys, the average credit card debt of a graduating college student ranges from $2,300 to $9,000 said Layne McDaniel of Noesis Data, a Baton Rouge , La., firm that offers financial education.

Students certainly don't head off to college with a goal of digging themselves into debt. The idea of re-creating the comforts of home by purchasing computers, cable televisions, cell phones, and new clothes is very enticing. This spending pattern often gets out of hand and students end up having to work more or get too tired to study and others just quit school altogether to pay the bills. Parents aren't always able or willing to dig their children out of debt.

These on campus offers most often than not aren't a good deal for students after the introductory low-interest rate period ends. Studies have shown that that students who get credit at campus promotions have higher unpaid balances than those who don't and often times end up ruining their credit. Good credit is essential when these college students graduate to help get them where they want to go in life. Unfortunately, what was thought to be easy money actually ends up being a hard lesson learned.

-- L. Morse

Securities Division Orders Halt to Laurel-Based Mortgage Program

2007-08-17T06:57:00.000-07:00

Well folks, I guess the trend is still continuing. Now POS Dream Home, LLC has been charged with securities violations and investment fraud. Take a look ...

BALTIMORE, MD (August 15, 2007) - Attorney General Douglas F. Gansler announced today that the Securities Division of his office has issued a Summary Order to Cease and Desist against POS Dream Home, LLC, Metropolitan Grapevine, LLC, CEO Andrew H. Williams, and agent Laveda Whitfield, and their officers and directors, all operating out of Laurel, Maryland. The Order requires that the individuals and companies immediately cease and desist violating Maryland's securities laws and halt the operation of an investment program involving the promised payment of homeowners' mortgages in five years.

"This action orders POS Dream Home, Williams, and their agents and officers to cease any operations in Maryland until a hearing can be held in this matter," said Attorney General Gansler. "In the meantime, this company will no longer be able to unlawfully solicit investors and risk the potential loss of their money."

The Securities Division's order alleged that POS Dream Home operated an unregistered promissory note investment program under the guise of a mortgage payment plan. Using personal sources and public meetings to solicit inquiries to Metropolitan Grapevine and POS by potential investors, agents would offer the opportunity to live mortgage free. In exchange for $5,000 plus a lump sum payment to POS, often of $50,000 or more, plus 50% of the ultimate value of the home, the company promised to pay off the home buyer's or owner's mortgage in full in five years or less. The money for the mortgage payments allegedly was generated from POS's investment in "POS cafes," which included ATMs, credit card readers, and other revenue-generating devices.

The order alleges that POS and its agents failed to disclose to investors material information such as the cafes' locations, past financial results, operating expenses, the lack of any registration of the investments, and the history of management personnel. As the result of a 2001 enforcement action by the Securities Division, Williams was enjoined and restrained from engaging in the securities business in Maryland.

Neither company, its notes, or its promoters is registered with the Securities Division as required by Maryland law.

The Securities Division brought the action not only to halt the registration violations, but also because of the material misrepresentations and omissions made in connection with the claims of the investment program.

"There is great risk of the loss of investors' money where there is no demonstrated source of income except other investors," said Attorney General Gansler. "In a climate of rapid change in home values, a program like this can increase risks to lenders and home owners."

Attorney General Gansler reminded investors that they can contact the Securities Division of his office at 410-576-6360 if they have questions concerning the status of investment promoters or the securities in which they plan to invest. Potential investors should thoroughly check out any investment opportunity by contacting the Securities Division regarding securities broker-dealers, agents, investment advisors, investment advisor representatives, financial planners, the registration status of securities, or to report suspected fraud.

Mortgage Woes in the News

2007-08-16T19:21:00.000-07:00

Mortgage companies and Banks have taken some hard hits so far this month.

Novastar Financial Inc., which provides mortgages to people with weak credit temporarily suspended funding on some of its loans on August 3rd through August 7th. The mortgages that were affected are wholesale loans that have not been locked in. After a re-evaluation, the company resumed funding wholesale mortgages on August 7th.

American Home Mortgage closed its doors on Friday, August 4th resulting in the lay off of more than 6,250 workers, including almost all of its 1,460-person Melville staff. The company's stock, which was above $36 as recently as December, was trading at 76 cents in mid-afternoon. Unfortunately, the market conditions in both the secondary mortgage market as well as the national real estate market have deteriorated to the point that we have no realistic alternative," chief executive Michael Strauss said in a statement. Numerous shareholder lawsuits have already been filed against American Home and its executives. The mortgage-lending company recently filed for bankruptcy.

National City Corp.,a large U.S. Midwest regional bank, said on August 6th that its National City Home Equity unit has temporarily suspended offering new home equity loans and lines of credit, citing tighter mortgage market conditions.

Countrywide Financial, the top U.S. home mortgage lender drew on their $11.5 billion emergency Line of Credit to stay afloat, and the stock took a 30% hit before institutions stepped in and propped it back up today, August 16th.

All these mortgage woes are affecting the stock market and not in a positive way. Stocks continued to slide this morning due to the U.S. subprime mortgage mess. U.S. Treasury Secretary, Henry Paulson said that the current turmoil in the market "will extract a penalty" on U.S. growth, but said the economy was strong enough to avoid a recession.

-- L. Morse

Colorado Mortgage Brokers Part of Probe

2007-06-24T18:39:00.000-07:00

According to the Denver Post, the Colorado Attorney General's Office is investigating lending and advertising practices at four mortgage brokerages which is an expansion of a probe that begun last year.

Late last year, the state sent 17 subpoenas to brokerages and opened full investigations into four, according to Nate Strauch, spokesman for Colorado Attorney General John Suthers. The companies were not named.

Officials state that the main focus of the investigation is to look into companies that advertise low teaser interest rates, tout minimum-loan-payment plans and use confusing terms to describe their loans.

Colorado had the highest rate of foreclosure filings per household of any state last year, according to RealtyTrac of Irvine, Calif. The state is now No. 2.

The state's investigation could result in the filing of civil lawsuits against mortgage brokers found to have violated the Colorado Consumer Protection Act, Deputy Attorney General Jan Zavislan said in October.

For more information regarding mortgage brokers and what they are allowed to advertise, click the links below:

What is a Mortgage Broker?

What Mortgage Brokers Can Advertise

-- L. Morse

Homeowners Beware! Deed Scam Making the Rounds!

2007-05-07T09:07:00.000-07:00

If you are a property owner then this blog is an important one for you to read. There is a property deed scam that is becoming more prevalent lately. Homeowners are scammed into thinking they're getting a deal or doing something important to protect themselves and their finances.

A property deed is an important document that notes the transfers of ownership in real estate. This document should be stored in a safe place with other valuable papers.

Here is how the scam works: You get an "official" letter in the mail telling you how important it is to have a certified copy of your property deed. More often than not, it's a scam to get you to buy an unnecessary service that will get you a copy of your deed for a hefty fee. According to Consumer Reports, such letters look official, with companies invoking high-pressure sales tactics to persuade you to buy their services at a cost of $80 to $100.

Most homeowners already have a copy of their deed from their closing. If you are one of the few that don't, it's not hard to get a certified copy yourself. All you have to do is contact your county clerk or registrar's office. You can usually get a certified copy of your deed for less than $10.

-- L.Morse

Subprime Lending in the News

2007-04-23T17:38:00.000-07:00

Subprime lending has definitely been one of the hottest topics in the news lately. All of the coverage that this crisis has gotten lately has caused confusion over what it all means and how it will affect the average homeowner. We hope that the questions and answers that we have compiled will help alleviate some of this confusion.

What is Subprime lending?

Subprime lending, also called "B-Paper," "near-prime," or "second chance" lending, is a general term that refers to the practice of making loans to borrowers who do not qualify for market interest rates because of problems with their credit history. A subprime loan is one that is offered at a rate well above the prime rate, which is a benchmark that banks set for establishing interest rates for other loans.

Why is it such a hot topic in the news lately?

There has been a lot of bad buzz going on about subprime lending lately because there has been large movement, mostly down, as the stock market reacts to a large number of foreclosures on homes in the so-called "subprime" mortgage area. A large amount of these subprime loans are going into default and, the companies that made these loans are in real trouble.

Why are so many of these loans going into default?

Subprime lending was all well and good in the low interest rate environment we've enjoyed for a long time, but as interest rates have come up over the past few years, these shaky buyers have been increasingly unable to make their mortgage payments and going into default.

In the last 5-10 years, many people with not so great credit histories, low incomes, and low credit scores were approved to borrow money to buy houses because banks lowered their normal guidelines. These borrowers became "subprime" credit risks. The banks used different types of lending methods like adjustable rate mortgages, interest-only mortgages, and other kinds of financing to get these people into homes.

How does this affect you?

You really will not be affected directly by the subprime crisis if you already own a home and have a standard 30-year fixed mortgage. If there is an increase in foreclosures in your neighborhood, you may see your home's value drop some. If you are not planning to sell your home any time soon, you should be able to get through the dip in your home's value.

Unfortunately, if you are buying a home but do not have a down payment or have a credit score that is below 620 you will find it more difficult to obtain financing to purchase a home. Many lenders are either getting stricter on their approval requirements or getting out of the subprime business as a whole.

On a positive note, if you are looking to buy a home, the subprime problems may benefit you. Now that there is some uncertainty in the real estate market, homes are selling for lower prices and there are more homes out there for sale. You get more options for lower prices. At this point, rates are still low, so if you have good credit, you will be in a good position.

-- L. Morse

Welcome to Finacial Help Web!

2007-04-01T14:34:00.000-07:00

Hi Everyone! We are in the beginning stages of building this site and hope that you will join us as we update the site with valuable financial information that you will be able to benefit from.

In the coming weeks, you can expect to find many interesting up to date financial facts. We will provide you with what's hot in financial news and will also privide you with some valuable tips and tricks of the financial world that can save you money.

Here is just a sample of what tips and tricks we're working on:

* Did you know that it is possible to get your interest rate on your credit card lowered by simply just asking?

We will tell you how.

* Did you know that if you are charged a late fee on your credit card or ATM fees or returned check fees on your checking account, you just may be able to get those fees removed?

We will tell you how.

* Did you know that having too many credit cards, whether they are in use or not, can get you declined for credit?

We will tell you why.

* Did you know that a Home Equity Line of Credit is a very smart way to borrow?

We will tell you why.

Please bookmark us and come back often because we are here for YOU. If you have any topics that you would like to see discussed on our site, please feel free to comment below and let us know!

-- L. Morse