The Houston Texans official team logo can now be featured on the NFL Extra Points™ Platinum Plus® Visa® Credit Card from Bank of America.  (www.texanscreditcard.com).   This rewards credit card has proven to be a touchdown with fans and is scoring rave reviews in the rewards credit card industry.  Like many universities, airlines, and retail stores have done for years, NFL football teams like the Houston Texans are now being displayed on consumer credit cards.  These football oriented credit cards are rapidly growing in popularity and are proving to be a hit with sports fans across the country.

The NFL Extra Points™ Platinum Plus® Visa®™ Credit Card from Bank of America has valuable features, including:

•           A $50 NFLshop.com gift card after your first qualifying transaction(s) using your NFL Extra Points™ Visa® Credit Card.

•           No Annual Fee.

•           Earn 1 Point for every dollar you spend in net retail purchases. Points are redeemable for NFL merchandise, tickets, and VIP passes to NFL experiences.

•           0% Introductory Annual Percentage Rate (APR) on balance transfers and cash advance checks for your first 12 billing cycles.

•           100% fraud protection

•           Online account access and Points management.

At a time when everyone’s nerves are frayed because of uncertainty in the stock market, illiquidity in the credit market and the softening real estate market, one thing remains constant – sports fans love NFL football.  Historically, football has given the public something to believe in and something to hope for, particularly in tough economic times.   With the NFL Extra Points™ Platinum Plus® Visa®™ credit card, Texans fans can be reminded of their favorite team every time they take out their wallets.  Real fans carry the card with pride.  Visit www.texanscreditcard.com to complete the credit card application online in a few short minutes.

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All you hear these days is that credit markets are tightening and small business is having a harder time financing equipment. That’s not always true, though. You just have to know where to look.

Financing equipment for your small business becomes an even more important strategy when the economy is down. As it may be harder to obtain any new lines of credit, it is important to preserve your current lines of credit and working capital.

Most businesses need some sort of equipment in order to operate. If you are looking to financing medical equipment, IT software and equipment, trucking or commercial, construction and heavy equipment, the needs may vary but the common goal is the same.

The primary goal of business equipment financing is to invest in capital while managing your cash flow and balance sheet. Financing comes in two basic forms: secured lending and leasing. In secured financing you own the equipment while the lender has a lien against it, and you make regular payments until the lien is paid off. In leasing, a lessor controls the asset, and transfers possession of that asset to the business for a specific time period in exchange for periodic payments.

So what are the advantages of financing?

Preserving your working capital is one such advantage. Paying cash for a large expenditure creates a risk on many levels, especially for a small business. What if your business equipment does not have the effects you hoped for, i.e. increased profits, efficiency, etc? If you paid cash, your cash flow can become tighter. Using your existing lines of credit can be risk as well; what if your lines of credit are maxed out by purchasing equipment and the bank is not willing to open any more lines for you?

You can even still find lenders that do not require a down payment. When you finance the full cost of equipment, it reduces your risk and transfers it to the lender.

Financing equipment also offers a hedge against inflation. When you finance equipment, the lender has a delayed use of funds because it does not get its money all at once. You pay over time. Your money loses value over time due to inflation. However, because you are locked in to a set payment, the risk of inflation is transferred to the lender.

Another thing to consider are the tax advantages. In addition to the usual tax advantages, from time to time Congress may vote for additional benefits as well, as they did for 2008. You lose certain tax advantages when you pay cash rather than finance your equipment.

You could also acquire more or better equipment by the use of equipment financing rather than dipping into your cash.

If you do your research, you can still find small business equipment financing loan options. The internet is a good source. There are still lenders who are willing to invest in your business, even in down times.

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FHA Loan Florida

Why choose an FHA home loan for your Next Florida home?

There are lots of good reasons Florida homebuyers choose an FHA mortgage loan over conventional home loans, especially if one or more of the following apply to you

You’re a first-time Florida homebuyer. You have less than perfect credit. You don’t have a lot of money to put down on your next Florida home. You want to keep your Florida mortgage payments as low as possible. You’re worried about your Florida mortgage payments going up. You’re worried about qualifying for a Florida home loan.

 If any of these things describe you, then an FHA loan is right for you. Why? Because FHA-insured mortgages protect private Florida FHA approved lenders against loss. Because Florida mortgage lenders are insured against loss they off you’re a better deal.  

For the Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

Minimal Down Payment and Closing costs.

Down payment less than 3% of Sales Price Gifts are allowed Seller can credit up to 6% of sales price towards closing and prepaid costs. 100% Financing available No reserves required. FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:

  No minimum FICO score or credit score requirements. FHA will allow a home purchase 2 year after a Bankruptcy. FHA will allow a home purchase 3 years after a Foreclosure.

Other Benefits include:

 Low costs: FHA loans have low interest rates because they are insured by the  federal government

 Lower down payment:  FHA Loans have a low 3.5% down payment requirement, and the money can come from a family member, employer or grant.

 Easier approval: Because FHA insures your lFlorida mortgage lender against loss, private Florida FHA approved mortgage lenders are willing to give you mortgage terms that make it easier for you to qualify.

 No MIN FICO SCORE : You don’t have to have perfect credit to get an FHA insured mortgage. In fact, FHA loans have no minimum credit score requirements, even if you have had credit problems, such as a bankruptcy, it’s easier for you to qualify for an FHA-insured loan than a conventional loan. Bankruptcy Chapter 13 requires 12 months from filing date, and chapter 7 bankruptcy requires you to wait 24 months from discharged unless you can document death of a wage earner or extreme medial condition.

 More protection to keep your home: The FHA loan has been helping people since 1934. Should you encounter hard times after buying your home, the FHA has many options to keep you in your home and avoid foreclosure. FHA insures loans for Florida lenders against default. FHA   does not lend money or set interest rates. For the best interest rate and terms on a mortgage visit www.FHAMortgageprograms.com , for a free quote on a Florida FHA loan.

You may use an FHA-insured mortgage to purchase or refinance a new or existing 1- to 4-unit home, a condominium or a manufactured or mobile home (provided it is on a permanent foundation.

 What kinds of insured loans does FHA offer?

Fixed-rate loans – Most FHA-insured loans are fixed-rate mortgages (loans). The advantage of a fixed-rate Florida mortgage is that your interest rate stays the same during the loan period, so you know exactly how much your monthly payment will be.

 Adjustable rate loans – Most Florida first-time homebuyers are a little stretched financially. With FHA’s adjustable rate mortgage (ARM), the initial interest rate and monthly payments are low, but these may change during the life of the loan. FHA uses the 1-Year Constant Maturity Treasury Index (CMT) to calculate the changes in interest rates. An index is a measure of interest rate changes that determine how much the interest rate on an ARM will change over time.

The maximum amount that the interest rate on your loan may increase or decrease in any one year is 1 or 2 percentage points, depending upon the type of ARM you choose. Over the life of the loan, the maximum interest rate change is 5 or 6 percentage points from the initial rate. The advantage of selecting an ARM is that you may be able to expand your house-hunting value range because your initial interest rate will be low, as will your payment.

 Florida Purchase/Florida rehabilitation loans – Sometimes you might see a home you’d like to buy, but it needs a lot of work. FHA has a loan for rehabilitating and repairing single-family properties called the SF Rehabilitation Loan program (203k). You can get one loan which combines the mortgage and the cost of repairs. The mortgage amount is based on the projected value of the property with the work completed. The advantage of this loan is that you can buy a home that needs a lot of work, but have only one mortgage payment, and you can complete the repairs after buying the home.

How do Floirda FHA-insured loans compare to subprime loans?
Subprime loans are loans designed for homebuyers who don’t have a strong credit history or can’t qualify for a regular or prime loan. Lenders charge a high interest rate on subprime loans because the risk that a homebuyer may not make their payments is high. Because FHA insures the lender against this risk, the interest rates on FHA-insured loans are generally among the lowest in the market. Most subprime loans carry interest rates at least 3 percentage points higher than an FHA-insured loan. On a $100,000 mortgage, the monthly payment for a subprime loan would be over $200 a month higher than an FHA-insured loan.

 The majority of subprime loans are also ARMs, where the interest rate can change a lot and greatly increase your monthly payments. Most FHA-insured loans are fixed-rate loans where the mortgage payment always stays the same. If you have an FHA-insured ARM loan, the rate can’t go up by more than one or two points in a year. The fees that lenders charge their borrowers for processing a subprime loan are also generally higher than on an FHA-insured loan.

Most subprime loans carry a heavy prepayment penalty that you must pay if you want to refinance your loan to a lower interest rate. These penalties can cost you hundreds or even thousands of dollars. There is never a prepayment penalty on an FHA-insured loan. You can refinance at any time and not worry about paying any penalties.

Unfortunately, because they don’t know these facts, many homebuyers who could qualify to buy a home with a fixed-rate FHA-insured loan only apply for subprime loans. Check out an FHA-insured loan before settling for a subprime loan!

 How do FHA-insured loans compare to conventional loans?
Conventional loans usually require a larger downpayment than FHA and if you have less than perfect credit you may not qualify for an affordable mortgage with a low interest rate . The best thing to do is compare the cost of the conventional loan to an FHA-insured loan line-by-line. What are the fees for each? What is the interest rate? How much is the mortgage insurance? How much downpayment is required? For some borrowers, a conventional loan may be less expensive. For many others, getting an FHA-insured loan is the way to go.

Do you have to buy mortgage insurance on an FHA-insured loan?
Yes – as you will with most loans. There is an up front mortgage insurance premium equal to 1.5% of the loan amount that is paid at settlement. In most cases, this mortgage insurance premium is included in your loan amount, so you are really paying it over the life of the loan. In addition, on loans with a term of greater than 15 years and a loan-to-value ratio of 90% or greater (meaning you are borrowing more than 90% of the value of the home), you will pay an annual mortgage insurance premium of 0.5% of the loan amount in monthly installments.

 Example:
Up Front Mortgage Insurance Premium
Mortgage amount: $100,000 X 1.75% = $1,500 @ 6.5% for 30 years = $ 9.48 per month

Annual Mortgage Insurance Premium
Mortgage amount: $100,000 X 0.55% = $ 500/12 months = $45.83 per month

 Total Mortgage Insurance Premium
Most loans require mortgage insurance when your down payment is less than 20% of the sales price. On conventional and subprime loans, mortgage insurance is provided by private companies. Whether private mortgage insurance is less than, equal to, or more than an FHA-insured loan’s insurance will depend upon the loan program and your qualifications.

Compare the cost of FHA to subprime and conventional types of loans over the life of your loan . Then compare how much each costs monthly. With the protection and value you get from FHA – it’s a very good deal.

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Product Description
Japanese Manufacturing Investment in Europe is a provocative examination of the causes and consequences of the growing internationalization of Japanese business and Japan’s increasing involvement in the economies of EC countries.

When in the mid-1980s, a surge in foreign direct investment (FDI) among the five great powers took place, Japanese manufacturing investment in Europe occupied the forefront of this unprecedented growth and involved an even wider range of industries than before. This volume provides twenty-seven detailed case studies of Japanese companies in order to demonstrate the diversity of adopted strategies. Roger Strange also reviews the current literature on FDI and trade policy and argues for a new theoretical framework in the assessment of foreign direct investment.

Japanese Manufacturing Investment in Europe: Its Impact on the UK Economy

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Chicago Spire developer sued over credit card debt
By Julie Johnsson | Bank of America is suing Chicago Spire developer Garrett Kelleher for $110,000 in unpaid credit card bills associated with the stalled construction project.

Read more on Chicago Tribune

Research and Markets: Global Credit Card Industry – Emerging Markets
DUBLIN—-Research and Markets has announced the addition of the “Global Credit Card Industry – Emerging Markets” report to their offering.

Read more on Business Wire via Yahoo! Finance

Changes made to credit card laws affect students
By: Sonia Mugabo With the economy slowly recovering, Congress passed a new credit card law, the Credit Card Act ,on Monday Feb. 22, 2010. This bill was passed in order to prevent credit card companies from raising rates on existing balances which were already high in debt…

Read more on The Tack

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The initiative of starting up a business is something very good. But the simple notion of starting up a business is sometimes plagued with certain thoughts of indecision or thoughts of canceling the whole idea of starting up a business. What is known is that a lot of people are afraid to get into business because they are troubled of loosing. This is because they might have previously experienced losses or might have seen others fail in business. It should be kept in mind that most of the failures often experienced in business are failures related to finances.

The fear of loosing should be something inherent in every business owner and particularly to those just getting into business. This fear is also experienced by those already established in business. But in most cases, they are very worried about sources of finance for their businesses.

One of the main ideas at the back of this article is to identify the various sources of financing a business as well as identify the various tools to take the business through to a stage of profit maximization. How can you seek for the finance necessary to run your business?

Loans

Loans are one of the commonest forms of securing finance for the business. Loans are commonly obtained through commercial banks and these will normally be made available to those who can show some convincing form of credit worthiness. However, the conditions over which loans are given will vary from one lending institution to the other.

One of the best ways to approach these lending institutions is to come up with a business plan which can be appreciated by the lending institution and also establish that your proposal has the least form of risk that can be thought of. Keep in mind that banks will prefer to put their money where they realize that risks are minimal or insurable than where risks cannot be insured. You must also make sure that you are a legal entity and that you have the necessary collateral to secure the loan.

Angel Financing

This is a type of scheme in which you will normally come up with a business program and present it to an individual or group of individuals who are willing and able to provide the necessary capital for the running of the business. It is common to find such groups working in a network today. You will also have to know about the various networks and how they function ahead of seeking financing from it.

Angel financing is also sought for and will be provided to businesses with very high risks. This will also warrant these financiers to demand for high returns on their investments. In most cases, what they stand to gain will be twenty or thirty times above the value of what they put in. This is a very expensive form of financing but it is probable that it can be made available to young business owners with businesses that have a high probability to expand. If you cannot get the required financing from a lending institution, you may opt for this form of financing.

Financing From Venture Capitalists

Venture capitalists are investors who gather money with the aim of putting it in businesses that are still at their inceptions or businesses that are experiencing insurmountable financial hurdles. Such business may lack the capital or personnel to direct the business and they may also be involved in businesses that have high prospects of making huge profits. However, those who provide finance under this type of scheme will want to have a considerable measure of influence over the affairs of the business. Business owners should therefore be wise enough on the amount of influence which they will accord to these investors.

There are other sources from which finance can be provided to the business. The business may decide to sell some of it shares to the public. It can also opt to sell what it acquired in the form of assets.

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Florida FHA loan Information from an FHA lender

An FHA loan is a federal insured mortgage loan that is made by a private Florida mortgage lender that is  insured by the Federal Housing Administration. The FHA loans are only provided by federally qualified lenders.

FHA loans have historically allowed lower income Floridians to borrow money for the purchase of a home that they would not otherwise be able to afford. The FHA mortgage program originated during the Great Depression of the 1930s to stimulate the economy and get people buying homes again when the rates of foreclosures and defaults rose sharply. The FHA loan program provides lenders with sufficient insurance to protect against loss in a case of default. Some FHA loan were subsidized by the government, but the goal was to make it self-supporting, based on insurance premiums paid by Florida borrowers.

Over time, private Florida mortgage insurance (PMI) companies came into play, and now FHA primarily serves people who cannot afford a conventional down payment or otherwise do not qualify for PMI.

On August 31, 2007, the FHA added a new refinancing program called FHA-Secure to help borrowers hurt by the 2007 subprime mortgage financial crisis.

The history of FHA loans

The National Housing Act of 1934 created FHA or  Federal Housing Administration which was established primarily to increase home construction, reduce unemployment, and operate various FHA loan insurance programs. FHA does not loans, nor does it plan or build houses. As in the Veterans Administration’s VA loan program, the Florida mortgage applicant must qualify for the loan though a private Florida lending institution. This financial organization then may ask if the borrower wants FHA insurance on the loan or may insist that the borrower apply for it. The federal government, through the Federal Housing Administration, investigates the applicant and, having decided that the risk is favorable, insures the lending institution against loss of principal in case the borrower fails to meet the terms and conditions of the mortgage. The borrower, who pays an insurance premium 1/2 percent on declining balances for the lender’s protection, receives two benefits: a careful appraisal by an FHA inspector and a lower interest rate on the mortgage than the lender might have offered without the protection.

For the Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

Minimal Down Payment and Closing costs.

Down payment less than 3.5% of Sales Price Gifts are allowed Seller can credit up to 6% of sales price towards closing and prepaid costs. 100% Financing available No reserves required. FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:

  No minimum FICO score or credit score requirements. FHA will allow a home purchase 1 year after a Bankruptcy. FHA will allow a home purchase2 years after a Foreclosure.

To take advantage of the FHA program in Florida, give us a call 1-800-570-0448 or visit www.FHAmortgagePrograms.com

For Florida first time home buyers and other borrowers, the FHA home loans can have key advantages:

Easy Qualification – The FHA loan insures Florida mortgage lenders against loss for loans made to properly qualified FHA home loan borrowers. So you’re likely to find FHA mortgage loans with terms that make it easier for you to qualify than any other mortgage program..

Minimal Down payment Requirements – Florida FHA loans work with as little as 3.5% down and those funds can come from a family member, charity, or your employer. Although the FHA loan does not have a zero down mortgage option yet, you will find that your loan officer can point you to many Down payment assistance programs that work well with Florida FHA home loans.

Less than A-1 Credit is Okay – The Florida FHA home loan program exists to expand the pool of home buyers. Even borrowers with prior bankruptcies or mortgage lates get approved every day for FHA mortgages to buy or Refinance homes in Miami, Jacksonville, Fort Lauderdale or any Florida city we serve. The FHA loan program uses credit quality, not credit score!

Lower Cost Over the Life of the Loan – The Florida FHA home loan rates are extraordinarily competitive. FHA’s lower risk to the lender means a better rate for the borrower.

Safeguards for Borrowers Who Get Behind – The Florida FHA loan mortgages also allow the lender more options in helping borrowers who fall behind keep their homes are get current again: special forbearance, workouts, even free mortgage counseling. Further, FHA/HUD can allow the lender to place past due payments and move them to the end of the loan and in some instance will actually pay your past due payments for you. Options to save your home you’ll never get from a conventional loan! In an uncertain world, this is another excellent reason for you to get an Florida FHA loan.

Options for Manufactured Housing – Under certain conditions, you can even finance a Florida Mobile Home or manufactured home using a Florida FHA mortgage loan. Call 1-800-570-0448 to get pre-approved for a Florida FHA loan for manufactured housing or just use our quick application to learn more!

FHA Loans Are Fully Assumable – When you are ready to sell your home, you can offer buyers FHA financing! All FHA loans can be assumed by qualified buyers.

These are just seven of the many good reasons to apply for an FHA mortgage. Call 1-800-570-0448 to speak with a friendly Florida FHA loan specialist now!

FHA Home Loans for Purchasing a Florida Home

Although Florida FHA home loans require additional paperwork, the reality is that applying for an FHA mortgage loan in Florida is not much different from applying for conventional financing. In fact, for many Florida mortgage applicants learn that the small amount of extra time turns out to be an exceptional mortgage bargain because they save thousands of dollars over the life of their Florida Mortgage.

At 1st Continental Mortgage, we have been working with the FHA program for many years. We’re experts at assembling the proper paperwork and presenting your loan application to FHA approved lenders diligently and professionally. It’s one of the ways that we have earned our reputation for closing FHA home loans in Florida on-time.

You may be surprised at how flexible Florida sellers are in the current market and how many programs there are that provide Down payment assistance to applicants for FHA financing to purchase Florida homes, condos, and townhouses. The fact is, seller can pay up to 6% towards your closing costs. This means, no closing costs for you when negotiated during the purchase contract!

The FHA loan program offers excellent fixed rate options and never a prepayment penalty. If other Florida mortgage lenders are quoting you subprime rates, you owe it to yourself to make the call to compare the costs of getting an FHA home loan for your home purchase. Call 1-800-570-0448 to speak with an FHA loan expert before accepting any conventional mortgage quote as the best you can do!

History of FHA loans

Until the latter half of the 1960s, the Federal Housing Administration served mainly as an insuring agency for loans made by private lenders. However, in recent years this role has been expanded as the agency became the administrator of interest rate subsidy and rent supplement programs. Important subsidy programs such as the Civil Rights Act of 1968 were established by the United States Department of Housing and Urban Development.

In 1974 the Housing and Community Development Act was passed. Its provisions significantly altered federal involvement in a wide range of housing and community development activities. The new law made a variety of changes in FHA activities, although it did not involve (as had been proposed) a complete rewriting and consolidation of the National Housing Act. It did, however, include provisions relating to the lending and investment powers of federal savings and loan associations, the real estate lending authority of national banks, and the lending and depositary authority of federal credit unions.

Further changes occurred in the 1977 Housing and Community Development Act, which raised ceilings on single-family loan amounts for savings and loan association lending, federal agency purchases, FHA insurance, and security for Federal Home Loan Bank advances. In 1980 the Housing and Community Development Act was passed; it permitted negotiated interest rates on certain FHA loans and created a new FHA rental subsidy program for middle-income families.

On March 6, 2008, the Florida “FHA Forward” program was initiated. This is the part of the stimulus package that President Bush had in place to raise the loan limits for Florida FHA loans.

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Standard Chartered to buy GE’s Hong Kong consumer finance business
HONG KONG: Standard Chartered Bank plc said it had agreed to buy General Electric Corp’s Hong Kong consumer finance business, a transaction that will add a roughly US$1 billion (US$1 = RM3.41) mortgage portfolio to the bank’s Hong Kong consumer banking business.

Read more on Business Times (Malaysia)

No impact on inflation in medium term: Finance Secretary
NEW DELHI: Finance Secretary Ashok Chawla on Friday defended the budgetary proposals and did not think the duty on petro-products would add to the inflationary pressures in a big way.

Read more on The Hindu

Standard Chartered to buy GE’s Hong Kong consumer finance business
HONG KONG: Standard Chartered Bank plc said it had agreed to buy General Electric Corp’s Hong Kong consumer finance business, a transaction that will add a roughly US$1 billion (US$1 = RM3.41) mortgage portfolio to the bank’s Hong Kong consumer banking business. The companies aim to complete the deal in the first half of 2010, said Standard Chartered spokeswoman Gabriel Kwan yesterday. At the …

Read more on Business Times (Malaysia)

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The Tennessee Titans official team logo can now be featured on the NFL Extra Points™ Platinum Plus® Visa® Credit Card from Bank of America.  (www.titanscreditcard.com).   This rewards credit card has proven to be a touchdown with fans and is scoring rave reviews in the rewards credit card industry.  Like many universities, airlines, and retail stores have done for years, NFL football teams like the Tennessee Titans are now being displayed on consumer credit cards.  These football oriented credit cards are rapidly growing in popularity and are proving to be a hit with sports fans across the country.

The NFL Extra Points™ Platinum Plus® Visa®™ Credit Card from Bank of America has valuable features, including:

•           A $50 NFLshop.com gift card after your first qualifying transaction(s) using your NFL Extra Points™ Visa® Credit Card.

•           No Annual Fee.

•           Earn 1 Point for every dollar you spend in net retail purchases. Points are redeemable for NFL merchandise, tickets, and VIP passes to NFL experiences.

•           0% Introductory Annual Percentage Rate (APR) on balance transfers and cash advance checks for your first 12 billing cycles.

•           100% fraud protection

•           Online account access and Points management.

At a time when everyone’s nerves are frayed because of uncertainty in the stock market, illiquidity in the credit market and the softening real estate market, one thing remains constant – sports fans love NFL football.  Historically, football has given the public something to believe in and something to hope for, particularly in tough economic times.   With the NFL Extra Points™ Platinum Plus® Visa®™ credit card, Titans fans can be reminded of their favorite team every time they take out their wallets.  Real fans carry the card with pride.  Visit www.titanscreditcard.com to complete the credit card application online in a few short minutes.

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Fed emergency loans to banks decline
WASHINGTON — Banks borrowed less from the Federal Reserve’s emergency lending program over the past week, another sign that strains on private credit markets are easing.

Read more on Washington Post

Madhya Pradesh cuts rates on loans to farmers
The Madhya Pradesh government Thursday announced reduction of interest rates on short term loans to farmers from the existing five to three percent and a rural road-building programme from the next financial year.

Read more on Calcutta News

Banks’ bad loans ratio lowest in 13 years
The bad loans of universal and commercial banks are in their lowest level in over a decade, the Bangko Sentral ng Pilipinas (BSP) recently said.

Read more on Malaya

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