Mortgage Q&A: Interest-only ARM a good bet here

Q. We have a rental condominium in Washington that I'm hoping to sell in the next couple of years. It's probably worth $250,000 and has a $210,000, 30-year fixed-rate mortgage at 6.50 percent. I also have a 15-year fixed-rate $80,000 mortgage at 5.75 percent.

I want to take advantage of today's rates and refinance both loans, but my loan officer said that because the condominium is a cooperative, financing can't be found. He suggested we take out a new 15-year fixed-rate loan in the amount of $290,000, pay off the condo and have one loan secured against our primary residence. We can do this because our primary residence is worth more than $1 million.

The rate is great, but we don't want to have such a high payment for 15 years. As soon as we sell the condo, we want to get rid of the $210,000 debt. My loan officer says that even if we make a lump-sum principal payment of $250,000, our payment won't change.

As soon as we sell the condo, we want our payment to drop. Any thoughts?

A. You are a perfect candidate for a mortgage that offers an interest-only payment option because your payment will drop as you pay down the principal. Unfortunately, there aren't many interest-only programs from which to choose anymore, especially since the transaction constitutes a "cash-out" refinance. The two mortgage giants, Fannie Mae and Freddie Mac, now owned by Uncle Sam, discontinued interest-only programs for cash-out refinances regardless of how much equity you have in the property.

Searching my portfolio of lenders, I did find one cash-out program that allows interest-only payments. It is a 30-year loan that carries a fixed rate for the first seven years and adjusts annually thereafter.

Though many folks will decry this 7/1 interest-only ARM as dangerous, this program may fit your objectives for the following reasons:

• The 4.50 percent rate is fixed for the first seven years, and there are no points or origination fees.
• There is no prepayment penalty, so you may make principal payments in part or in a lump sum at any time.
• Because you have an interest-only payment feature for the first seven years, your payment can change every time you pay down the principal.

Let's assume you take out a $290,000 loan and pay off the condo. Let's also assume you sell the condo in two years and net $250,000, which you then apply toward the principal of the loan.

My calculator tells me that if you make the minimum interest-only payment of $1,088 ($290,000 x .045 = $1,088) and then make a lump-sum payment of $250,000 after the condo sale, your mortgage balance will drop from $290,000 to $40,000. If you then continue making a payment of $1,088 against the $40,000 balance, your loan will be paid off in full within 5 1/2 years.

Bad Credit Car Loan Calculators

Part of the research process for most consumers applying for auto loans for bad credit should include using web sites that have a resource section that includes the different types of bad credit car loan calculators

Our experience

Companies such as Auto Credit Express work with individuals who have bad credit and help them raise their credit scores and reestablish their car credit by filling out an online bad credit auto loan application and financing a vehicle using car loans with bad credit. Along the way, these web sites try to provide their applicants with the information they need in order to understand this type of loan, since the wrong selection can trap them in a loan they can’t afford which could result in arepossession that could lower their credit scores even further.

What you need to know

Unless this is the first time that you’ve shopped for a new or used car, you should know by now that it’s important to know your FICO score. This score, along with the information that appears on your credit report, will tell you if you’re qualified for a conventional loan or if you have to obtain a loan through a subprime lender or even a tote the note dealer. The dividing line for regular financing is generally a FICO score of 640. Above this credit score, you can usually get a conventional loan. But if you score below it, you’ll find that most conventional lenders will not approve you and you’ll need to secure financing with a subprime lender. In addition to your score, however, you need to look at something else.

Your budget

While your credit score will tell you what kind of loan you need, your budget will tell you what kind of payment you can afford. Once you know this, you can calculate how this payment translates into the price of the car. And while many web sites will let you research different vehicles, only a few will let you study the real nuts and bolts of car finance.

How to use our web site as a research tool

Copy the url http:// www.autocreditexpress.com and paste it in a second browser window before following the directions below.

Step One. The first step in your research is to determine what kind of loan you qualify for, given your FICO score. If you score is above 640, you can skip this first step. If you score is below 640, go to the web site and click on the RESOURCES button either at the top of the page or in the left-hand column. This takes you to the Auto Loans Resource Center. Here you can learn about the bad credit auto loan financing process. You can also view a series of videos that explain buy here pay here dealers, offer loan advice and educate you on the different types of bad credit auto loan websites.

Step Two. Now that you’re familiar with the loan process, once more go back to the RESOURCES page and click on the Loan Estimate Worksheet link just below the Loan & Down Payment Estimator header. This will take you to our Loan Estimator Worksheet.

Begin by filling out the Income Factor worksheet. The object of this particular worksheet is to determine the maximum loan amount you might qualify for. To begin, go to the Debt Factor portion of the worksheet and list your monthly expenses. This will tell you the disposable income that you have each month and give you an estimate of the maximum loan amount that this income qualifies you for.

A Credit Card Debt Consolidation Loans Can Salvage Your Financial Situation

One of the ideal ways to get rid of your excessive credit card debts is to apply for a credit card debt consolidation loan. This could be a smart move considering the fact that it enables borrowers to combine all their outstanding high interest credit card dues and pay them off with a new loan which could then be repaid back with easy-to-pay monthly installments. Besides, it provides you with the unique opportunity to become debt free within a stipulated time frame and thus, salvage your existing financial situation. But to get the best deal on your debt consolidation loan, you need to seek expert advice and assistance from a reliable debt consolidation company. This could help you to secure a consolidation loan solution which is instrumental in eliminating your credit card debts and actually caters to your financial needs and requirements.

The basic design of any credit card debt consolidation program facilitates merging of all the accumulated high interest credit card debts and repaying the creditors through much reduced single monthly payments. Typically, by securing a customized credit card debt consolidation loan secured at a much lower rate of interest, you could considerably reduce your unsecured debt burden while paying of all your creditors at one go.

These debt consolidation loan finances are available in two types-secured and unsecured loans. Secured loans require the borrower to pledge some collateral against the loan amount granted. But the interest rates offered could be much low in comparison to those provided on unsecured loans which do not ask for any kind of security. Nevertheless, you should choose an option depending upon your financial situation. That’s precisely the reason why you need to avail professional online help when you are out to consolidate credit card debts.

To get the lowest rates of interest on your consolidation loan finance, it is important for you to compare the quotes and the loan repayment terms offered by different consolidation loan lenders. By using a loan calculator, you could save a lot of time in deciding which quote is ideally suited to cater to your financial requirements. Currently, there are plenty of online services that guide borrowers in carrying out a comparison of quotes. By using such services, you could be helped with expert guidance and active assistance in securing a debt consolidation loan or even debt settlement through negotiation solution in accordance with your financial needs. However, it is recommended to utilize the professional services of an online debt consolidation service like ACreditConsultant that has been enjoying a market reputation among borrowers for years now.

Mortgage Refinancing Rates at 4.54%

Recent data has confirmed that more homeowners are paying down their mortgage in order to refinance at a lower interest rate.

During the last quarter approximately 22% of homeowners who refinanced their initial mortgage, paid more than they needed in order to lower the outstanding balance. Many homeowners are using a mortgage calculator to see the potential savings they could make.

The average 30-year loan rate dropped to 4.54 percent in the week ending July 22 compared to 4.56 percent from the previous

week and 5.25 percent from this time last year.

More homeowners have decided to refinance their home to consolidate debts, make home improvements or to pay off their mortgage faster.

Home mortgage refinancing means that you will get a secured loan in order to pay off an existing loan. In most cases, the loan will have been secured by your home.

The most common reason for refinancing is a lower interest rate. Even if interest rates have gone down that much since you bought your house, even a small amount of interest reduction can make a big impact in your monthly repayments. If your credit rating has improved, you may qualify for a lower interest rate when refinancing your home.

Many borrowers have to pay down principal in order to lower their loan-to-value ratio. This will then make them eligible to refinance their mortgage. More and more people are doing this because mortgage rates are at near all time lows.

Another reason mortgage refinancing is to reduce the length of your current mortgage. This allows you to pay off your mortgage sooner and save money.

Another reason many Americans are mortgage refinancing is to pay off credit card bills and other loans with high interest rates.

New Law Forcing Credit-Card Issuers to Play Fair

The rules of credit are changing. Consumers will see improvements this month as credit-card companies roll out the latest in a big series of government-ordered reforms on how they operate.

Wes Bedrosian

The various provisions of last year's Credit Card Act give consumers more disclosures and restrict credit-card rates and fees. Further, the financial-overhaul bill signed by President Obama last month creates a new consumer-protection agency and entitles consumers to more information.

"Institutions are going to be forced to become more accountable to consumers," says Adam Levin, chairman and co-founder ofCredit.com.

But the news isn't all positive: Credit-card companies are making up for lost revenue by adding new fees and increasing interest rates.

More Disclosures

The Credit Card Act, formally known as the Credit Card Accountability Responsibility and Disclosure Act, requires card companies to give consumers 45 days advance notice before increasing interest rates, changing certain fees or making other significant changes.

It also requires banks to add more information to statements. The biggest wake-up call might be a table now required on all credit-card statements that outlines how long it will take you to pay down your balance if you make only the minimum monthly payment -- and how much you'd pay in total including interest. The table also estimates the monthly payment needed to pay off the balance in three years.

Money reads: More on why you are not your credit score

In February, It's Only Money wrote "You Are Not Your Credit Score." Last week, New York Times bizz columnist Joe Nocera wrote about how the credit score is the tyrant in lending. "FICO scores are not the best predictor" of a borrower defaulting, hewrites. Yet, "credit scores have remained shorthand for a borrower’s creditworthiness."

Here are ten lines you might hear your investment adviser say that you shouldn't buy (Brett Arends). No. 8: "We recommend a diversified portfolio of mutual funds."

investment called "factored structured settlement," of which Portland's Somerset Wealth Strategies reportedly is a top broker (Jason Zweig). It's also known as a "secondary-market income annuity."

Five types of insurance you don't need (Money Ning). No. 2: Identity theft insurance.

Five ways your bank can still gouge you (Ask Liz Weston).

Bank of America apparently thinks the new credit card law does not force it to disclose the interest rates it charges when card holders make a late payment or default (CreditCards.com viaMichaelBRubin)

No. 5 of 10 big mistakes The Simple Dollar says you can make in your life: Worrying about what other people think as you decide what to buy.

Lawsuit Financial Available to Help When Structured Settlement Full or Partial Sale is Necessary

The concept of lawsuit funding was created to provide relief to pending litigants who, through no fault of their own, need financial assistance but do not qualify for traditional loan products. Legal funding is meant to help prevent plaintiffs from settling a case too early—for too little—just to get the bills paid.

“My business is centered around helping plaintiffs in need get the settlements they have coming to them,” stated attorney Mark Bello, owner and founder of Lawsuit Financial. “And, while structured settlement buy-outs should only be used as a last resort, because they will always reduce the value of a settlement, we understand some people must take this route because of economic issues they face. For that reason, we want to provide direction and knowledge to these plaintiffs to ensure they do the right thing for themselves and their families. Because we have tremendous buying power in this marketplace, we can leverage that power, make companies compete for our business, and provide the consumer with the best companies, strategies and pricing in the industry.”

“This is a very small industry and people working within it know who the reputable companies are,” continued Bello. “My goal is to provide this knowledge to plaintiffs to ensure they are taking the right steps for their future and security, and are working with companies who have their best interests in mind.”

Kreutz read to go after Achilles surgery

BOURBONNAIS, Ill. -- Chicago Bears center Olin Kreutz, who's coming off Achilles surgery, expects to be on the field when the Bears open practice Friday afternoon.

"Yeah, I'm ready to go," he said Thursday as the team reported to camp. "I should be out there for Day 1, if everything goes as planned. I'm ready to go, and hopefully the foot feels better."

The 33-year-old Kreutz admitted the rehab was tougher at this stage of his career.

"It's probably a little tougher in your 13th year, but everybody has a rough time when you have surgery," he said. "So I did the rehab I had to do and I'm trying to get back."

Jeff Dickerson covers the Bears for ESPNChicago.com and ESPN 1000.

Crestwood settles over old water bills

The village of Crestwood and residents who sued it over its use of a tainted well reached a preliminary settlement over years of water bills paid by residents who believed they were getting only Lake Michigan water.

The agreement pertains only to bills paid by current and former residents and business owners. Personal injury and wrongful death lawsuits in the matter still are pending.

For the village's part, the settlement attempts to stem its rising legal costs in the water scandal revealed last year.

"It's not that the village felt that they were legally liable, but it's very expensive litigating these class-action cases," village attorney David Sosin said.

One of the main stipulations in the agreement requires Crestwood to establish a $500,000 fund for residents and businesses to claim a refund of a portion of the water bills paid between Jan. 1, 1985, and Sept. 1, 2007. It reflects the years the village was found to have tapped the contaminated well for part of its water supply.

Village Clerk Nancy Benedetto said notice of the agreement should hit residents' mailboxes early this week.

"We wanted to bring resolution to Crestwood and the people out there, the citizens," said Larry Drury, one of several attorneys representing current and former Crestwood residents.

The village was found to have engaged in a cover-up of the well's use, informing residents and Illinois Environmental Protection Agency regulators it used only lake water after the agency had discovered in 1985 the well was tainted with the carcinogen vinyl chloride.

But Crestwood officials were tapping the well from 1985 until 2007, despite a pledge to the IEPA not to. Over that span of time, regulators said, the village relied on the well for as much as 20 percent of daily water needs.

Crestwood officials maintain it never amounted to a health risk because the water was diluted with lake water, a position reiterated by the IEPA.

Vinyl chloride is known to cause cancer as well as damage to the liver and the nervous system, according to the U.S. Environmental Protection Agency. An arm of that agency has said there is no safe exposure level to the chemical.

Illinois Attorney General Lisa Madigan also filed a lawsuit against Crestwood last summer.

Attorney Says Recent Salmonella Outbreaks Show Need for Food Safety Improvements

Chicago, IL (PRWEB) July 28, 2010

Two recent salmonella poisoning outbreaks highlight the need for federal, state and local officials to update their approach to protecting consumers from foodborne illnesses, a Chicago personal injury attorney says.

“Under the current system, officials react to outbreaks after they have already started. What we need is a system that addresses risks head on and prevents outbreaks from occurring in the first place,” says Patrick A. Salvi, managing equity partner of Salvi, Schostok & Pritchard P.C., a leading Illinois personal injury law firm with offices in Chicago and Waukegan.

“A recent report by the Institute of Medicine and National Research Council proposes ways to make such a system a reality, and I think health officials should give it serious consideration,” Salvi says.

In the 500-page IOM report, requested by Congress 18 months ago after a string of foodborne illness outbreaks, the IOM recommended that the U.S. Food and Drug Administration increase coordination with other agencies, such as the U.S. Department of Agriculture and state and local health departments.

The report called for setting up a centralized food safety data center that would collect information, identify risks and quickly move to address problems. It also proposed delegating food facility inspections to states, with the FDA establishing national standards for the intensity and frequency of those reviews.

“Every year, too many people become ill or die from foodborne illnesses, such as salmonella, in outbreaks that were ultimately preventable,” Salvi says. “The IOM report is useful because it shows how health officials can shift their focus to prevention instead of reaction.”

Salmonella is a type of bacteria that causes gastrointestinal illness. The contamination often comes from food that isn’t properly cleaned and prepared or is handled by a worker or employee who failed to properly wash his or her hands.

Symptoms of salmonella poisoning include diarrhea, fever and abdominal cramps. An infection can spread from the intestines to the blood stream and cause death.

The salmonella outbreaks that have recently garnered attention in Illinois started in May.

In one case, the Illinois Department of Public Health reported 90 cases of salmonella poisoning linked to Subway restaurants in 28 counties. As a result of the outbreak, 25 people needed hospitalization.

In another case, the Cook County Department of Public Health reported 45 cases of salmonella poisoning connected to the Skokie Country Club in Glencoe, with nine people requiring hospitalization, according to a report in the Wilmette Pioneer Local.

It’s unknown how many salmonella cases associated with either outbreak went unreported or untreated. The Centers for Disease Control and Prevention estimates that there are 40,000 cases of salmonellosis reported in the U.S. each year, while the number of actual salmonella-related illnesses could be as much as 30 times greater than what is reported.

“If you believe you are a victim of any food poisoning, you should contact your health care provider or local health department right away,” Salvi says. “An attorney who reviews your case also may be able to help you recover for your pain and suffering as well as medical expenses and lost wages.”

Austin Search Engine Optimization Company Teams With Appleton Personal Injury Law Firm

AUSTIN, Texas (MMD Newswire) July 28, 2010 -- The Search Engine Guys, LLC (TSEG, LLC) is pleased to continue its partnership with the Wisconsin personal injury law firm of Habush Habush & Rottier, S.C.

Habush Habush & Rottier, S.C. has been defending the rights of victims of negligent behavior for decades. They have secured many positive outcomes for their clients, such as a $99 million settlement for ironworkers killed in a crane crash at Miller Park.

If an individual has been hurt by the reckless behavior of another party, he or she deserves legal representation right away. To learn more about the rights of an injured victim, contact the Appleton personal injury attorneys of Habush Habush & Rottier, S.C. to discuss your legal claim.

About Habush Habush & Rottier, S.C.

Habush Habush & Rottier, S.C. has been serving the people of Wisconsin since it was founded by Jesse Habush in 1930. Since then, the firm has expanded with 13 offices in the state, including one in Appleton.

Dentist, corporate lawyer swap Near West Side 2BD

Dr. Kiley Hirons bought a two-bedroom, two-bath condo at 1033 W. Monroe St. on the Near West Side Chicago from Seth and Danielle Diehl for $430,000 on June 4.
The 1,500-square-foot Unit #2 is one of the condos at 1033 W. Monroe St., a development that was built in 2007.

Dr. Hirons is a dentist at Naperville Dental Specialists and at Sonrisa Family Dental. Prior to that, she has worked as a dental assistant and she was a technology risk consultant at Arthur Andersen.

She holds a B.S. degree in management and international business and technology information systems from Purdue University. She received her doctor of dental surgery degree from the University of Illinois-Chicago.

Mr. Diehl is a senior counsel of corporate and securities in the legal department at Arthur J. Gallagher & Co., an insurance brokerage and risk management services firm. He was previously an associate at Latham & Watkins LLP and at Paul Weiss. He also served as a senior analyst at Continental Airlines and as a researcher at the Trinity Forum.

He holds an A.B. in East Asian studies from Harvard University (1998) and a J.D. from the University of Chicago Law School (2004).

There have been 240 condo sales on the Near West Side during the past 12 months, with a median sales price of $292,500.

Di Nolfo's norovirus outbreak in Mokena, Illinois

Yesterday, along with Gary Newland, a Chicago-area personal injury lawyer, we filed suit on behalf of Anita Fowler for a foodpoisoning illness that she developed after eating at a wedding reception held at Di Nolfo's banquet hall in Mokena, Illinois. Will County health officials are investigating a number of illnesses (reports of more than 50 people sickened) that are apparently linked to the outbreak. At least one person has tested positive for norovirus, which would seem to fit under the circumstances of this large outbreak. Multiple people required hospitalization for treatment of their illnesses.

Norovirus;

The Centers for Disease Control and Prevention (CDC) estimates that noroviruses cause 23 million cases of acute gastroenteritis annually, making noroviruses the leading cause of gastroenteritis in the United States (CDC, 2006; Fankhauser, et al., 2002; Mead, et al., 1999). Of viruses, only the common cold is reported more often than viral gastroenteritis (norovirus) (Benson & Merano, 1998).

Nature has created an ingenious bug in norovirus. The round blue ball structure of norovirus is actually a protein surrounding the virus’s genetic material. The virus attaches to the outside of cells lining the intestine, and then transfers its genetic material into those cells. Once the genetic material has been transferred, norovirus reproduces, finally killing the human cells and releasing new copies of itself that attach to more cells of the intestine’s lining.

Transmission of Norovirus:

Noroviruses are transmitted primarily through the fecal-oral route, and fewer than 100 norovirus particles are said to be needed to cause infection (MMWR, 2001, June 1).

Transmission occurs either person-to-person or through contamination of food or water. Foodborne norovirus transmission can occur when food is contaminated by an infected food handler (Caceres, et al., 1998; MMWR, 2001, June 1).

Forex Market

The Forex books that are presented in this section cover the general aspects of Forex and financial trading. They provide the information that is interesting not only to the Forex beginners but also to the experienced Forex traders that want to learn something new or to maintain a proper structure of their knowledge of the Forex market.

Almost all Forex e-books are in .pdf format. You'll need to open these e-books. Some of the e-books (those that are in parts) are zipped.

Forex Market

The Forex books that are presented in this section cover the general aspects of Forex and financial trading. They provide the information that is interesting not only to the Forex beginners but also to the experienced Forex traders that want to learn something new or to maintain a proper structure of their knowledge of the Forex market.

Almost all Forex e-books are in .pdf format. You'll need to open these e-books. Some of the e-books (those that are in parts) are zipped.

The Costs Of Trading

You may have relatives or friends who trade the markets. They could be trading shares, futures, options or forex. You may have heard of their exciting trading stories and perhaps this aroused your curiosity and you wondered whether you should trade too. One of the first questions you ask before you trade would be: what are the costs of trading.

The costs of trading depend on several factors, including the instrument and market you are trading. Most of the costs you pay are to your brokerage firm. They need to make a living in exchange for the services they provide.

Generally, you would expect to incur the following costs:

Commissions

Slippage

Spread

Platform Fees

Expenses

Commissions

These costs are charged by brokers. The commission you pay is usually calculated as a percentage of the size of your trade. For example, if you are buying or selling $10,000 worth of shares, your broker may charge you 1% of that. They may also charge in tiers: for example, if you are buying or selling shares with a total market value of less than $10,000 then your broker may charge you $30. If it is under $20,000, they may charge you $50. Therefore, if you bought $5,000 worth of shares, you would still pay $30 commission. And if you bought $12,000 worth of shares you would still pay $50 commission.

Slippage

The price of a commodity is always moving as long as the market is open. Therefore, if the price of a share is quoted at $10 now, it does not mean that when you decide to buy, you will buy those shares at $10 each. When you put in your order and it gets filled, the market price may have already changed. If your order to buy the shares was filled at a price of $10.25, and you bought 100 shares, then your total slippage cost is: $25 (that is 100 shares * $0.25). If you had the same slippage when you sell, then the entire slippage costs for you getting in and out of the market would be $50 (that is $25 * 2 trades).

Spread

The spread is the difference between the bid to buy and offer to sell for the commodity. If the most eager buyer is willing to buy US Dollars for 0.7500 Australian Dollars each, but the most eager seller is only willing to sell them for 0.7510 Australian Dollars each, then there is a spread of 10 pips. These 10 pips are referred to as the spread. If you bought 100,000 USDs, the spread would cost you 100 Australian Dollars. (Pips are discussed further in the book: The Part-Time Currency Trader .)

Platform Fees

Some brokers charge you monthly for using their trading platforms.

Expenses

These costs include those associated to your trading education like buying books, trading software, data subscription and so forth.

Some people may 'brush' these costs aside as negligible costs of having fun, much like the coins they put in poker machines. However, if you want to look at trading as a business, you have to minimize them and make sure you are getting the most for every dollar you spend to ensure your long-term survival.

Forex Software Packages

If you plan to start trading FOREX online you will of course be using a software system. This system will make it easy for you to get information quickly about market prices and make trades. There are two types of FOREX software available, client based and web based.

As the FOREX market is a fast moving market and you will need up to the minute information to make informed transactions, it is up to you to see you have a high speed internet connection. Dial up internet access will absolutely not work for this. Another consideration could be the location of the servers used by your broker. If your broker's servers are located quite a distance from you, say in another country, this could potentially slow down your transmissions. If you plan to trade online you will need a modern computer and high speed internet connection.

The next consideration would be which type of software, client based or web based? Web based software is housed on your brokers website. You will not have to install any software on your own computer. A web based software program will allow you to log in from any computer that has an internet connection. A client based software program, or one that you download into your own computer will limit you to transactions only on the computer it is downloaded on. Web based software programs are preferred by most brokers who think they are more safe and reliable. Web based software tends to be less vulnerable to attack from viruses and hackers during transmissions than client based software.

Any FOREX software should offer you real-time quotes and offer means to quickly enter and exit the market. These are minimal requirements of any trading software. Upgraded software packages are usually offered at an extra monthly fee by brokers.

Internet Marketing VS Forex Currency Trading

Have you noticed that when someone's trying to sell you something — such as a system for making money — they always make it look far easier than it is?

Let's look at two Internet businesses, almost as diametrically opposed as it's possible to be — Internet Marketing and Forex Currency Trading.

You've probably heard the old Internet adage — build a better website and they will come. Well it ain't true!

You could put up a site advertising dollars for a dime and they still wouldn't come — because they wouldn't know where to look!

Let's look at what you need to have in place in order to build a successful Internet marketing business.

First of all, you need a product. If you've been reading the recent Internet marketing blurb you'll know you need a niche product.

Actually, the new thing is sub-niche but whatever they call it, you need a product for which there is high demand but low supply.

Finding a suitable niche is the hardest part of the whole process but let's say you have a killer product, what else do you need?

The List.

Ask any Internet marketeer and they will say that the most important part of your business is your opt-in list.

For people to join your list you usually have to give them something of value such as a free eBook or report on a subject related to your main product line.

To keep them interested, you need to keep in touch with them offering them additional information, advice and tips.

Website.

Learn Currency Trade

The Foreign Exchange Market — better known as Forex — is a world wide market for buying and selling currencies.

It handles a huge volume of transactions 24 hours a day, 5 days a week. Daily exchanges are worth approximately $1.5 trillion (US dollars). In comparison, the United States Treasury Bond market averages $300 billion a day and American stock markets exchange about $100 billion a day.

The Foreign Exchange Market was established in 1971 with the abolishment of fixed currency exchanges. Currencies became valued at 'floating' rates determined by supply and demand. The Forex grew steadily throughout the 1970's, but with the technological advances of the 80's Forex grew from trading levels of $70 billion a day to the current level of $1.5 trillion.

The Forex is made up of about 5000 trading institutions such as international banks, central government banks (such as the US Federal Reserve), and commercial companies and brokers for all types of foreign currency exchange.

There is no centralized location of Forex — major trading centers are located in New York, Tokyo, London, Hong Kong, Singapore, Paris, and Frankfurt, and all trading is by telephone or over the Internet. Businesses use the market to buy and sell products in other countries, but most of the activity on the Forex is from currency traders who use it to generate profits from small movements in the market.

Forex Enterprise — A Full Review

A new marketing course to hit the internet by Nick Marks that advertises earnings of $1000 a day and $30,000 a month respectively. This turnkey system generating multiple streams of income is relatively new and so it is my pleasure to review it for you.

After purchasing you are given a login page where you are introduced to the system which is in website format. Everything is easy to access and well organized.

After Nick gives you a little pep talk about positive thinking and goal setting, you will be introduced to his first recommendation: join Coastal Vacations. While not a part of his main Forex system this is a recommendation I could've done without.

In the pay per click section you are given a large list of keywords that Nick found convert really well with his system. Some of the keywords in the list have bid prices already attached to them so you can get front page exposure.

The course also has $50 in free adwords credit that unfortunately only works with new accounts so I was out of luck. If you don't already have an account this is worth the price of the course alone.

What's Fibonacci Forex Trading?

Fibonacci forex trading is the basis of many forex trading systems used by a great number of professional forex brokers around the globe, and many billions of dollars are profitable traded every year based on these trading techniques.

Fibonacci was an Italian mathematician and he is best remembered by his world famous Fibonacci sequence, the definition of this sequence is that it's formed by a series of numbers where each number is the sum of the two preceding numbers; 1, 1, 2, 3, 5, 8, 13 ...But in the case of currency trading what is more important for the forex trader is the Fibonacci ratios derived from this sequence of numbers, i.e. .236, .50, .382, .618, etc.

These ratios are mathematical proportions prevalent in many places and structures in nature, as well as in many man made creations.

Forex trading can greatly benefit form this mathematical proportions due to the fact that the oscillations observed in forex charts, where prices are visibly changing in an oscillatory pattern, follow Fibonacci ratios very closely as indicators of resistance and support levels; maybe not to the last cent, but so close as to be really amazing.

Fibonacci price points, or levels, for any forex currency pair can be calculated in advance so that the trader will know when to enter or exit the market if the prediction given by the Fibonacci forex day trading system he uses fulfills its predictions.

Many people tries to make this analysis overly complicated scaring away many new forex traders that are just beginning to understand how the forex market works and how to make a profit in it. But this is not how it has to be. I can't say it's a simple concept but it is quite understandable for any trader once he or she has grasped the basics and has had some practice trading using Fibonacci levels along with other secondary indicators that will help to improve the accuracy of the entry and exit point for every particular trade.

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Foreign Exchange Market

The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest market in the world, in terms of cash value traded, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. Retail traders (small speculators) are a small part of this market. They may only participate indirectly through brokers or banks and may be targets of forex scams.

What is Forex?

FOREX - the foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world.

Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in exchange rates.

In the foreign exchange market there is little or no 'inside information'. Exchange rate fluctuations are usually caused by actual monetary flows as well as anticipations on global macroeconomic conditions. Significant news is released publicly so, at least in theory, everyone in the world receives the same news at the same time.

Currencies are traded against one another. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX currency is expressed. For instance, EUR/USD is the price of the euro expressed in US dollars, as in 1 euro = 1.2045 dollar.

Unlike stocks and futures exchange, foreign exchange is indeed an interbank, over-the-counter (OTC) market which means there is no single universal exchange for specific currency pair. The foreign exchange market operates 24 hours per day throughout the week between individuals with Forex brokers, brokers with banks, and banks with banks. If the European session is ended the Asian session or US session will start, so all world currencies can be continually in trade. Traders can react to news when it breaks, rather than waiting for the market to open, as is the case with most other markets.

Average daily international foreign exchange trading volume was $1.9 trillion in April 2004 according to the BIS study.

Like any market there is a bid/offer spread (difference between buying price and selling price). On major currency crosses, the difference between the price at which a market maker will sell ("ask", or "offer") to a wholesale customer and the price at which the same market-maker will buy ("bid") from the same wholesale customer is minimal, usually only 1 or 2 pips. In the EUR/USD price of 1.4238 a pip would be the '8' at the end. So the bid/ask quote of EUR/USD might be 1.4238/1.4239.

This, of course, does not apply to retail customers. Most individual currency speculators will trade using a broker which will typically have a spread marked up to say 3-20 pips (so in our example 1.4237/1.4239 or 1.423/1.425). The broker will give their clients often huge amounts of margin, thereby facilitating clients spending more money on the bid/ask spread. The brokers are not regulated by the U.S. Securities and Exchange Commission (since they do not sell securities), so they are not bound by the same margin limits as stock brokerages. They do not typically charge margin interest, however since currency trades must be settled in 2 days, they will "resettle" open positions (again collecting the bid/ask spread).

Individual currency speculators can work during the day and trade in the evenings, taking advantage of the market's 24 hours long trading day.

Forex: Benefits of Trading the Forex Market

Trading the Forex market has become very popular in the last years. Why is it that traders around the world see the Forex market as an investment opportunity? We will try to answer this question in this article. Also we will discuss come differences between the Forex market, the stocks market and the futures market.

Some of the benefits of trading the Forex market are:

Superior liquidity.

Liquidity is what really makes the Forex market different from other markets. The Forex market is by far the most liquid financial market in the world with nearly 2 trillion dollars traded everyday. This ensures price stability and better trade execution. Allowing traders to open and close transactions with ease. Also such a tremendous volume makes it hard to manipulate the market in an extended manner.

24hr Market.

This one is also one of the greatest advantages of trading Forex. It is an around the click market, the market opens on Sunday at 3:00 pm EST when New Zealand begins operations, and closes on Friday at 5:00 pm EST when San Francisco terminates operations. There are transactions in practically every time zone, allowing active traders to choose at what time to trade.

Leverage trading.

What Is Forex Trading?

Forex trading is nothing more than direct access trading of different types of foreign currencies. In the past, foreign exchange trading was mostly limited to large banks and institutional traders. However recent technological advancements have made it so that small traders can also take advantage of the many benefits of forex trading just by using the various online trading platforms to trade.

The currencies of the world are on a floating exchange rate, and they are always traded in pairs. About 85 percent of all daily transactions involve trading of the major currencies. Four major currency pairs are usually used for investment purposes. They are: Euro against US dollar (EUR/USD), US dollar against Japanese yen (USD/JPY), British pound against US dollar (GBP/USD) and US dollar against Swiss franc (USD/CHF).

If you think one currency will appreciate against another, you may exchange that second currency for the first one and be able to "stay" in it. If everything goes as you plan it, eventually you may be able to make the opposite deal in that you may exchange this first currency back for that other and then collect profits from it. As a note bear in mind that no dividends are paid on currencies.

Transactions on the FOREX market are performed by dealers at major banks or FOREX brokerage companies. FOREX is a necessary part of the worldwide market, so when you are sleeping in the comfort of your bed, the dealers in Europe are trading currencies with their Japanese counterparts. Therefore, the FOREX market is active 24 hours a day and dealers at major institutions are working 24/7 in three different shifts. Clients may place take-profit and stop-loss orders with brokers for overnight execution. Price movements on the FOREX market are very smooth and without the gaps that you face almost every morning on the stock market. The daily turnover on the FOREX market is somewhere around $1.2 trillion, so a new investor can enter and exit positions without any problems.

Forex Trading

So what is is Forex trading you may ask? Forex is the exchange you can buy and sell currencies. For example, you might buy British pounds (by exchanging them to the dollars you had), then, after pounds / dollar ratio goes up, you sell pounds and buy dollars again. At the end of this operation you are going to have more dollars, then you had at the beginning.

The Forex market has much higher liquidity, then the stock market, as much more money is being exchanged. Forex is spread between banks all over the planet and as a result it means 24 hour trading.

Unlike stocks, Forex trades are performed with high leverage, usually it is 100. It means that by investing $1000 you can control $100,000, and increase potential profits accordingly. Some brokers provide also so called mini-Forex, where the size of minimum deposit equals $100. It makes possible for individuals to enter this market easily.

The name convention. In Forex, the name of a "symbol" is composed of two parts — one for first currency, and another for the second currency. For example, the symbol usdjpy stands for US dollars (usd) to Japanese yen (jpy).

As with stocks, you can apply tools of the technical analysis to Forex charts. Trader's indexes can be optimized for Forex "symbols", allowing you to find winning strategy.

Tradency

Tradency offers "mirror trading", a service allowing clients to receive signals from top traders and third-party automated and manual systems, executed into your account automatically, each with their own verified track record. You choose the systems you want to trade, the currency pairs, and your money management, and let Tradency trade your account automatically.

Foreign Exchange Market

The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest market in the world, in terms of cash value traded, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. Retail traders (small speculators) are a small part of this market. They may only participate indirectly through brokers or banks and may be targets of forex scams.