Commerce – Himspairport http://himspairport.com/ Fri, 28 May 2021 18:37:33 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://himspairport.com/wp-content/uploads/2021/05/default.png Commerce – Himspairport http://himspairport.com/ 32 32 So you got a payday loan – here’s how to avoid getting into debt https://himspairport.com/easy-money-loans-i-need-money-now-and-fast/ https://himspairport.com/easy-money-loans-i-need-money-now-and-fast/#respond Mon, 24 May 2021 09:42:25 +0000 https://himspairport.com/?p=771 Short term, high interest loans, otherwise known as payday loans, are a real bone of contention in the financeindustry. They are often a last resort for people who aren’t able to get credit on better terms, but people might also take them out when they only need to borrow a small amount, or need the cash in […]]]>

Short term, high interest loans, otherwise known as payday loans, are a real bone of contention in the financeindustry. They are often a last resort for people who aren’t able to get credit on better terms, but people might also take them out when they only need to borrow a small amount, or need the cash in your bank account very quickly. They have been subject to legal ruling in the past, with the most prominent payday loan service, Wonga, going into administration when it had to pay customers back because it hadn’t made terms clear enough. There are now far more regulations for short-term lenders, and they need to make clear how much you’ll end up paying back. It’s also now more common for repayments to be spread over a number of months, rather than the whole amount being collected from your bank account when you get paid.

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These types of loans are a very expensive form of borrowing, with interest rates (APR) in excess of 500%. When you compare that to the (still high) example APR of 40% for an overdraft, you start to see how high that figure really is. One lender gives the example of £480 borrowed over nine months, and the amount payable is £959.04 – very nearly double. In addition to this, they can be severely frowned upon by mortgage lenders, and make it more difficult to borrow in future.

If you’re considering getting a payday loan, it’s well worth looking at your other option – there’s a wealth of information about zero or low percentage credit cards, overdrafts, credit unions and money transfers on moneysavingexpert.com. If you’re already in one, here’s how you can proceed to stay out of any trouble:

Make your payments on time

Defaulting on a payday loan can lead to mounting fees and rising financial stress, so missing payments is not something to be taken lightly. Make sure that you know your payments schedule, and that you’re able to leave enough cash in your account to cover the repayments. Even better, if you can save to pay off the loan early, it’s worth seeing if you can negotiate an early settlement with reduced interest.

Take action if things get difficult

If you suspect that you won’t be able to make your repayments, or your circumstances change and you’re left short, don’t waste time in taking action. If you have a friend or family member who could help you out in the short term, this is one of those situations where it might be wise to ask for help. If not, you will need to let your lender know, and see if you can renegotiate your payment terms. If the thought of this brings you out in a cold sweat, charities like StepChange and CAP can guide you through the process, or even negotiate on your behalf to make things more affordable and take a bit of the pressure off.

Don’t let them get away with bad behaviour

Any lender has a duty to give you good, clear customer service and to be upfront about payment terms. If there have been communication or service issues, or you believe that your loan was mis-sold – i.e. you could never have afforded it, or the terms weren’t made clear – you can complain to the Financial Ombudsman Service. This is a free service that rules on whether or not a lender has acted fairly, and you can sometimes get compensation if your loan was not dealt with correctly.

You have a right to Breathing Space

Under new regulations brought in by the government, you can get 60 days respite from legal action by your lender if you have problem debt, including a freeze in any interest or fees payable. This can provide some much-needed time to stop panicking, gather your thoughts and look at what help is available to you. You’ll need to access it through a registered debt advisor, or a charity, or a mental health professional if your debt has caused a mental health crisis. In this latter instance, your breathing space time lasts for as long as your crisis period, plus 30 days.

Payday loans are not usually the best way to borrow, and are one of the easiest ways for debt to become a problem if they’re not carefully managed. But if you already have one, and are worried about making repayments – or how much it’s costing you – there are options available to you, so don’t despair.

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Old Hill Partners Closes $ 5.1 Million Senior Guarantee https://himspairport.com/old-hill-partners-closes-5-1-million-senior-guarantee/ https://himspairport.com/old-hill-partners-closes-5-1-million-senior-guarantee/#respond Wed, 07 Apr 2021 23:16:32 +0000 https://himspairport.com/old-hill-partners-closes-5-1-million-senior-guarantee/ DARIEN, Connecticut, Feb. 24, 2021 (GLOBE NEWSWIRE) – Old Hill has provided $ 5.1 million in the form of a senior secure picking facility to a company that acquires and leases standard 40-foot shipping containers. Its tenants include shippers with trade routes in Asia and the Middle East. Container rental and management services are provided […]]]>

DARIEN, Connecticut, Feb. 24, 2021 (GLOBE NEWSWIRE) – Old Hill has provided $ 5.1 million in the form of a senior secure picking facility to a company that acquires and leases standard 40-foot shipping containers. Its tenants include shippers with trade routes in Asia and the Middle East. Container rental and management services are provided to the borrower by managers in Hong Kong and Singapore. Facility security includes new containers, leases, receivables on leases, a borrower’s stock pledge, and guarantees.

“We believe that the global container shortage represents an opportune time to finance the owners and lessors of these assets. Rental rates are at historically high levels and container owners are able to lock in these rates on long-term leases. We worked closely with the borrower and its parent company, who have extensive experience in acquiring and leasing containers, to craft a transaction that capitalized on the opportunity while incorporating collateral and collateral guarantees. cash flow to mitigate risk. We continue to be interested in this sector and in the financing of transport in general. Said Sam Adams, portfolio manager at Old Hill.

Old Hill offers asset-based lending solutions for borrowers looking for $ 5 million to $ 50 million in financing. The Company structures senior secured debt in the form of term facilities, drawdowns and revolving credit for up to four years and loan-to-value ratios between 35% and 85%. Types of collateral include pools of loans or leases (specialized financing), receivables, inventory, machinery and equipment.

Old Hill Partners Inc. is an alternative asset manager focused on asset lending transactions with small and medium-sized businesses. As an SEC-registered investment advisor, we operate at the crossroads of investors seeking attractive risk-adjusted returns and emerging companies seeking capital for expansion, acquisitions or growth.

press contact

Christie fogelstrom
Investor Relations
Old Hill Partners Inc.
1120 Boston Post Road
Darien, Connecticut 06820
www.oldhill.com
Telephone: 203 656 3004
info@oldhill.com

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Here’s the latest crisis management lesson from the Capitol Riot: Chains of command matter https://himspairport.com/heres-the-latest-crisis-management-lesson-from-the-capitol-riot-chains-of-command-matter/ https://himspairport.com/heres-the-latest-crisis-management-lesson-from-the-capitol-riot-chains-of-command-matter/#respond Wed, 07 Apr 2021 23:16:11 +0000 https://himspairport.com/heres-the-latest-crisis-management-lesson-from-the-capitol-riot-chains-of-command-matter/ WASHINGTON, DC – March 03: Major General William J. Walker, Commander of the General District of Columbia … [+] The National Guard testifies during a Committee on Homeland Security and Government Affairs / Rules and Administration hearing March 3, 2021 on Capitol Hill in Washington, DC. The committee is due to hear testimony on support […]]]>

Congressional hearings and inquiries into the January 6 riot at the Capitol continue to highlight the crisis management lessons for business leaders.

As reported by the Washington post Yesterday, Major General William J. Walker, commanding general of the DC National Guard, “… told lawmakers on Wednesday that the restrictions the Pentagon was placing on him on the eve of the Capitol riot prevented him from doing so. to send forces more quickly to help quell the violence. “

Walker said he did not receive permission from his chain of command at the Pentagon to send forces to Capitol Hill until three hours and 19 minutes after receiving an urgent call at 1:49 p.m. on January 6 from the chief of Capitol police saying a request for the safeguarding of the guard was imminent, ”according to the newspaper.

Chains of command are essential in a crisis

The critical crisis management lesson learned Walker’s testimony to Congress is that in any crisis, chains of command are important. The ability to quickly make and obtain decisions about a crisis – what to do, when to do it, how to do it, where to do it, who will do it, and why to do it – can be the tipping point to the extent that or wrong businesses and organizations react to a crisis.

Time is of the essence in any crisis situation. Every minute that goes by without reacting to the situation can make it more difficult to respond, manage and recover from the crisis. Business crisis management plans should include provisions for immediate reaction to a crisis. These provisions should include:

  • A description of the events or activities that will trigger the implementation of the plan.
  • Who will decide when the plan goes into effect.
  • Members of a crisis response team who will be responsible for implementing the plan.
  • A process for notifying all team members that the plan has been activated.
  • A timeline for testing the plan to make sure it works, and for conducting exercises with members of the response team to help ensure they will be able to work together when the need arises.

Two critical factors

Katie Achille is a crisis management communicator and managing partner at The Devon group, a technology public relations and marketing services company. She noted that “the most effective chain of command depends on two critical factors: the structure of the organization and its existing crisis management plans. Ideally, businesses of all sizes will have a designated crisis team in place before the need arises.

Members of the team

“More often than not, those involved in mitigation and management will include the executive team, legal counsel, communications and, potentially, operations. There should always be a spokesperson in place who has media experience and / or training, ”Achille advised.

Consequences

“Failure to act, whether due to inexperience or lack of preparation, will cause a delay in communication, which in today’s ongoing information cycle leads to speculation and increased surveillance. The media and the public expect information and responses almost as soon as an incident occurs, ”she said.

Speed ​​matters

Constance hubbell, president of The Hubbell Group, a strategic communications and crisis management company, said: “Traditional chains of command mean a waste of time, which is ruinous in the age of fast-paced social media that has both accelerated and compressed information cycles.

“Crisis management today means flattening command structures in order to minimize the time required for information to pass from ground level to C-suite, which requires defining emergencies in advance, training people to recognize them and empower them to escalate problems immediately.

“Doing this effectively,” said Hubbell, “involves pre-established protocols, clear channels that remove layers of management, intensive training, and regular practice. Businesses can learn a lot about crisis management from those whose crisis responses literally mean life or death. ”

Define roles

“When an organization has clear and defined roles as to who is responsible for every detail, writing internal communication and media statements, who can speak to the media, it makes the process more effective and efficient.” , according to Rachel Brockway, director of public relations at Serendipit Consulting.

She said: “Being effective and efficient is of the utmost importance in a crisis situation because the faster an organization can make decisions, get the right approvals and respond, the more effective the outcome will be. The biggest lesson here is that if your organization doesn’t have a crisis plan in place, or if your plan hasn’t been updated recently, it’s time to create or update it. . “

Be accessible

Heather Sugg is the senior vice president of William Mills Agency, a marketing and communications agency. She observed that “whoever is placed as a first point of contact must have a proven reputation for being readily available and accessible. I have seen issues in the chain of command if the gatekeeper is not very responsive, time can be very tricky in these situations. “

“It’s also important to make sure all associates know the chain of command. I have seen divisions within companies dealing with their crisis on their own, without thinking about stepping up communications with customers at the enterprise level. In most cases, this translates into a message that needs to be handled, on top of the original crisis, ”Sugg advised.

Have and execute a strategy

Ravi Kathuria is the founder and president of Cohegic, a management consulting and executive coaching company. He said: “There are three aspects to crisis management: strategy, execution and communication. The chain of command must reflect all three aspects. “

He said: “A clear and visible strategy minimizes confusion and ensures that everyone is on the same page. Execution must ensure an appropriate and well-balanced response that receives strong and sufficient input from experts.

“Communication must be shared in a timely manner internally and externally, be truthful, substantive, sincere and empathetic. Cohesion between strategy, execution and communication is essential to manage the crisis, ”said Kathuria.

The role of the CEO

“The communications team includes spokespersons, technical experts if necessary and the communications manager,” recommended Kathuria. “The CEO should be deployed only in strategic instances to deliver key messages. Having the CEO become the daily spokesperson increases the risk of inadvertent pitch or message errors. “

He recalled that “Oscar Munoz United Airlines came across as insincere and condescending in a passenger abuse cases creating a public relations nightmare.

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Mortgage applications decline for fourth consecutive week https://himspairport.com/mortgage-applications-decline-for-fourth-consecutive-week/ https://himspairport.com/mortgage-applications-decline-for-fourth-consecutive-week/#respond Wed, 07 Apr 2021 23:15:54 +0000 https://himspairport.com/mortgage-applications-decline-for-fourth-consecutive-week/ Home buyers are pulling back. Here’s why. There was a time last year when mortgage lenders were extremely overwhelmed with mortgage applications. But in recent weeks, things have cooled. In fact, mortgage loan applications fell for the fourth week in a row, according to the Mortgage Bankers Association. Here are some of the reasons why. […]]]>

Home buyers are pulling back. Here’s why.

There was a time last year when mortgage lenders were extremely overwhelmed with mortgage applications. But in recent weeks, things have cooled. In fact, mortgage loan applications fell for the fourth week in a row, according to the Mortgage Bankers Association. Here are some of the reasons why.

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1. House prices have gone up

Home values ​​have skyrocketed during the pandemic, making properties less affordable, which could explain why mortgage applications are dropping. The median price of homes in the United States reached $ 291,000 in February 2021. In contrast, in February 2020, homes sold for a median price of $ 260,000.

2. Mortgage rates have gone up

In early January, the average 30-year mortgage rate hovered around 2.75%. At the time of this writing, the average 30-year mortgage is available for around 3.3%. Rising mortgage rates are likely pushing some buyers away, even though current rates are still fairly competitive.

3. There is no house to buy

It is difficult to apply for a mortgage when there are no homes on the market. The number of homes for sale in February 2021 was down 11.9% from January 2021 and 42.0% from February 2020. This housing shortage is not new and the winter months have may have made matters worse, as stocks tend to be slower during this time.

Will the housing market open up this year?

Several factors could lead to an increase in available housing this year:

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  • Warmer weather: Spring is a more popular time to list homes, as it’s often easier to show the curb appeal of properties when the season cooperates. So there could be an increase in new home listings in April, May and June.
  • Widespread vaccination efforts: Sellers may be more willing to list their homes and host strangers for exhibitions and open houses once they feel better protected from COVID-19.
  • General economic recovery: Sellers can be more confident to list their homes once they are less worried about job loss and can support their moving plans.

If the housing inventory opens, it could help solve the problem of rising house prices, because as the supply of available housing increases, the demand from buyers could decrease. Of course, that doesn’t solve the problem of rising interest rates, and we might see those numbers climb even more over the course of the year.

However, since mortgage rates are still attractive at an all-time high, rates alone are unlikely to deter buyers in the coming months if stocks rise and home prices fall. As such, we might see an increase in mortgage applications later in the year, depending on how things move.

But will mortgage demands increase in the short term? This is the big question. We could see several weeks of downturn before mortgage activity picks up. It will be interesting to see how the data reads as homebuyers continue to grapple with today’s extremely tough housing market.

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Billing banks are changing and adapting in response to COVID-19 pandemic | Local News https://himspairport.com/billing-banks-are-changing-and-adapting-in-response-to-covid-19-pandemic-local-news/ https://himspairport.com/billing-banks-are-changing-and-adapting-in-response-to-covid-19-pandemic-local-news/#respond Wed, 07 Apr 2021 23:15:42 +0000 https://himspairport.com/billing-banks-are-changing-and-adapting-in-response-to-covid-19-pandemic-local-news/ “As the needs of our customers change, we have to be flexible and responsive to all customers and there are still a lot of customers who like and want to walk into a bank, sit with someone and talk to them face to face. to face. Brown said. The pandemic has shown the importance of […]]]>

“As the needs of our customers change, we have to be flexible and responsive to all customers and there are still a lot of customers who like and want to walk into a bank, sit with someone and talk to them face to face. to face. Brown said.

The pandemic has shown the importance of in-person banking, O’Sullivan said, especially as many Montanais faced financial uncertainty.

“It really taught us that there is a place for a physical presence, a physical branch and the ability to talk to someone one-on-one,” she said.

Montana Health Federal Credit Union, or Montana Health FCU, is a non-profit credit union that serves players in the health care industry. It is located on North Second Avenue and recently opened a new location on Shiloh Road.






The Montana Health Federal Credit Union on Shiloh Road in Billings on Thursday April 1, 2021.


MIKE CLARK Billings Gazette


Over the past year, Montana Health FCU has made changes to help its members weather the pandemic, including canceling loans, extending payments and removing overdraft fees, said Dennis Wizeman, president and CEO of the credit union in February.

The credit union has members in Montana and 33 other states, Wizeman said, so serving them in person is a challenge when there are only two branches in Billings. To achieve this goal, he plans to use interactive ATMs, or ITMs, which are similar to an ATM. However, members can also make loan payments, apply for a loan, disburse cash and coins, and more. The machines are also capable of calling for assistance from a Montana Health FCU employee.

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PV – ERBD finances a floating solar project in Albania https://himspairport.com/pv-erbd-finances-a-floating-solar-project-in-albania/ https://himspairport.com/pv-erbd-finances-a-floating-solar-project-in-albania/#respond Wed, 07 Apr 2021 23:15:42 +0000 https://himspairport.com/pv-erbd-finances-a-floating-solar-project-in-albania/ The power station will be built on the reservoir of the Vau i Dejës hydroelectric power station, which is managed by Korporata Elektroenergjitike Shqiptare. It represents a breakthrough in innovative green technology, using Albania’s rich solar resources while avoiding the use of rare earths. The EBRD loan will be granted to a special purpose vehicle […]]]>

The power station will be built on the reservoir of the Vau i Dejës hydroelectric power station, which is managed by Korporata Elektroenergjitike Shqiptare. It represents a breakthrough in innovative green technology, using Albania’s rich solar resources while avoiding the use of rare earths.

The EBRD loan will be granted to a special purpose vehicle owned by KESH and created for the construction of the project. Structured as a project finance loan and granted on a commercial basis, the EBRD loan is the first such financing by an international financial institution and will help commercialize KESH, one of the largest utilities in the world. Albania.

KESH owns and operates three large hydropower plants with a total capacity of 1,350 MW which represent approximately 70 percent of Albania’s national production. The new solar photovoltaic power plant will help make KESH more resilient to climate-induced hydrology and seasonality risks.

The project also aligns with Albania’s broader ambition to develop its solar capacity, which has resulted in two successful auctions supported by the EBRD and offering very competitive tariffs: the 140 MW Karavasta project and the 100 MW Spitalle.

The EBRD has also mobilized € 315,830 for project preparation support, including in the context of preparation and implementation of green economy projects financed by the Austrian government (the DRIVE Fund) and by the TaiwanBusiness-EBRD technical cooperation.

Francesco Corbo, EBRD Regional Energy Officer for the Western Balkans, said: “We are delighted to support this groundbreaking project, which is another major milestone in the success of Albania’s campaign to increase its solar capacity and improve its energy mix. The project is remarkable for its innovative technology, its positive environmental impact and its commercial logic. It also has the potential to be replicated in the wider Western Balkans region, which has numerous hydroelectric reservoirs. This is our first opportunity to fund floating solar PV technology and we look forward to many similar projects in the future.

The EBRD is one of the main institutional investors in Albania. To date, the Bank has invested over € 1.5 billion in loans in 110 projects across the country.

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What to know before getting a mortgage in retirement https://himspairport.com/what-to-know-before-getting-a-mortgage-in-retirement/ https://himspairport.com/what-to-know-before-getting-a-mortgage-in-retirement/#respond Wed, 07 Apr 2021 23:15:42 +0000 https://himspairport.com/what-to-know-before-getting-a-mortgage-in-retirement/ With mortgage rates still at historically low levels, retirees and seniors can benefit from reduce size, buy a vacation home, or use the equity in their home to increase cash reserves, pay down debt, or renovate. © Justin Paget / Getty Images A retiree at home However, if you are considering getting a mortgage in […]]]>

With mortgage rates still at historically low levels, retirees and seniors can benefit from reduce size, buy a vacation home, or use the equity in their home to increase cash reserves, pay down debt, or renovate.



a person standing in front of a window: a pensioner at home


© Justin Paget / Getty Images
A retiree at home

However, if you are considering getting a mortgage in retirement, it is important to carefully assess your financial situation, especially since your income may have changed. Here’s what you need to know to get a home loan as a retiree or senior.

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Can you get a mortgage as a senior?

When it comes to getting a home loan retirement, mortgage lenders look at many numbers to decide if a borrower qualifies, but age is not one of them. The Equal Credit Opportunity Act prohibits discrimination against a credit applicant on the basis of their age.

“I once took out a 30-year mortgage for a 97-year-old woman,” recalls Michael Becker, sales manager and loan originator at Sierra Pacific Mortgage in Lutherville, Maryland. “She was lucid, understood what she was doing and just wanted to help a member of her family [by taking] some money from her house, and had the income to qualify and the equity in the house – she owned it free of charge and clearly – so she got approved. “

When seniors apply for a mortgage, lenders look at the same criteria as any other borrower, including:

The minimum credit score for a conventional loan backed by Fannie Mae or Freddie Mac is 620, although this score does not qualify you for the best rates. A DTI ratio as high as 50% could be allowed, but lenders prefer to see you spend less than 45% of your monthly income on debt repayments, including your mortgage.

“The same underwriting guidelines apply to retirees and seniors as everyone else,” says Becker. “They have to have the ability to repay the loan, that is, have the income and the assets to qualify.

“If the retiree has non-taxable retirement income, such as Social Security income or tax-exempt interest, that income can be ‘grossed up’ or increased by 15 to 25 percent, depending on the loan proceeds, to help qualify for the loan, ”Becker adds.

Should You Get a Mortgage When You Retire?

There are a number of reasons you can get a home loan in retirement, including:

  • You want refinance to reduce your monthly payments because you are on a fixed income
  • You have a lot of equity in your home, but little or no retirement savings to draw on
  • You want to consolidate your debts
  • You want to buy a smaller house for your retirement or vacation home
  • You want to free up money for a emergency fund
  • You want to renovate or repair your current home

While these are all valid reasons for getting a mortgage, the decision to get a mortgage in retirement should be based on your financial situation and personal goals.

“When you think of the personal finances of most seniors, the notion of so-called fixed income comes into play,” says Mark Hamrick, senior economic analyst and Washington bureau chief for Bankrate, who stresses the importance of anticipating precisely what housing and other expenses will cost.

“Even if you own a property without further mortgage payment, property taxes and maintenance will be a consideration,” says Hamrick. “Although inflation has been fairly subdued for many years now, prices have risen for basic commodities like housing and health care over time … As with people of all ages, having a budget, limit spending, and accurately reflect income expectations are essential. “

If you and your partner or spouse are older, you should also think about what would happen if either of you died and how that would affect the survivor’s ability to repay the loan.

Still, taking out a mortgage can be a smart game for retirees who can afford to pay cash for a house. One of Becker’s clients, for example, buys a retirement condo and has the assets to pay it off in cash, but chooses to deposit 50 percent and take out a mortgage for the balance.

“Once her existing house is sold, she will reinvest in her money. [investment] accounts rather than paying off the loan, so those assets can earn him money, ”Becker says. “She pays 2.875% on the loan, and her investment advisor is convinced that in the medium to long term, she can get much better returns on her money than that.”

If you are living on Social Security and without significant savings, however, taking out a mortgage may not be a wise move.

“Not having this extra debt will help the retiree pay other bills, like food, health care, insurance, property taxes and utilities,” Becker says.

6 mortgage options for seniors

There are many mortgage options available for retirees or eligible seniors. Here are six home loans to consider:

  • Conventional loan – A conventional mortgage is a mortgage issued by a private lender, not backed by the government like FHA and VA loans. You need to deposit 20% for a conventional loan or pay for private mortgage insurance (PMI).
  • Cash-out refinancing – With a cash repayment, you will get a brand new mortgage, usually at a lower rate and maybe on a shorter term, and you will cash in some of the equity in your home to use for whatever you want.
  • Mortgage loan – A home loan is a lump sum loan, generally with a fixed rate, fixed monthly payments and a term of between five and 30 years. You generally need at least 20% equity to qualify. Lenders have loan-to-value limits (LTVs) that help them decide how much to borrow.
  • Home equity line of credit (HELOC) – A HELOC is a variable rate loan that works like a credit card – you have a line of credit to draw on when needed. You will have a number of years to withdraw the money and then a period of time to repay the loan. Your monthly payments will vary based on changes in interest rates and the amount of line of credit you have used.
  • Home Equity Conversion Mortgage (HECM) – An HECM is the only federally insured reverse mortgage and is available from lenders approved by the FHA. Anyone considering this type of loan is required to meet with a HECM advisor. To be eligible, you must be at least 62 years of age, own your home (or nearby), and live in the home as your primary residence. You should also be able to afford property taxes, insurance, HOA fees, and other home maintenance costs.
  • Mortgage without document – A mortgage without documents is one that does not require the lender to verify the borrower’s income. It is a rare commodity, but it can be an option for borrowers with irregular income. Loans without documents generally require a higher credit score and a decline of at least 30%. You can also expect to pay a higher rate compared to a conventional loan.

What documents do you need?

Besides what is required to prove your identity, the documents needed to qualify for a mortgage are slightly different for retirees. Instead of payslips and W-2 forms, you will need to provide your lender with 1099 forms to document income from sources such as:

  • Social Security
  • Pension
  • Withdrawals from retirement accounts or minimum required distributions (RMD)
  • Interest income
  • Dividend income
  • Annuities
  • Any other income, such as from a rental property

“Typically, two months of bank statements are needed to show that these payments are deposited into the retiree’s account,” Becker says. “Since there is no paycheck, bank statements serve the same purpose. Deposits must match what the 1099s show. “

Capital gains, on the other hand, are reported on IRS Form 1040. For interest, dividends, and capital gains, Becker says you “must have a two-year history of these types of income and show that [you] have enough assets for these types of income to continue. “

You may also be required to provide:

  • Signed federal income tax returns
  • Retirement award letters
  • Proof of current receipts
  • Letters from organizations providing income

At the end of the line

Retirees who have good credit, sufficient income and assets, and little debt can get a mortgage, but the process for getting one can seem a little different. Some of the reasons you might want a loan in retirement include refinancing at a lower payment, increasing emergency funds, consolidating debt, or buying a new home or renovating. your current home.

Keep in mind that seniors can be the targets of scams, so take care when shopping for a mortgage or any other financial product. Gordon Miller, owner of Miller Lending Group, LLC in Cary, NC, notes that loan paperwork is complicated and important details are easy to miss.

“They get a payment and an interest rate, sign the papers, and don’t notice that $ 20,000 has been added for closing costs,” Miller says. “Never go to closure without your lawyer or someone you trust looking at the documents to make sure the costs are what you think they are. Don’t rely entirely on the other person on the end of the phone. Don’t make a one-size-fits-all decision. “

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Largest SA bank sounds alarm over government’s R200 billion Covid-19 donation loan proposal https://himspairport.com/largest-sa-bank-sounds-alarm-over-governments-r200-billion-covid-19-donation-loan-proposal/ https://himspairport.com/largest-sa-bank-sounds-alarm-over-governments-r200-billion-covid-19-donation-loan-proposal/#respond Wed, 07 Apr 2021 23:15:42 +0000 https://himspairport.com/largest-sa-bank-sounds-alarm-over-governments-r200-billion-covid-19-donation-loan-proposal/ There was disappointment as to how the program fell short of its capacity. A 200 billion rand initiative to provide SMEs with Covid-19 relief, is due to expire on April 11. President Cyril Ramaphosa criticized the country’s largest banks for not having disbursed loans quickly under this initiative. The CEO of Standard Bank rejects suggestions […]]]>

There was disappointment as to how the program fell short of its capacity.

  • A 200 billion rand initiative to provide SMEs with Covid-19 relief, is due to expire on April 11.
  • President Cyril Ramaphosa criticized the country’s largest banks for not having disbursed loans quickly under this initiative.
  • The CEO of Standard Bank rejects suggestions to swap the loans that have been granted for grants.

The Standard Bank Group has sounded the alarm over proposals to revive a government-backed credit program designed to help South African businesses battered by Covid-19.

As South Africa’s largest lender is open to discussions on how to restructure the R200 billion program to increase demand, it rejects suggestions to swap the loans that have been given out for grants. CEO Sim Tshabalala said in the bank’s annual report.

“In addition to the unfair burden that a conversion to grants would place on our depositors and investors, and on taxpayers, we believe that the conversion of loans to grants would set a very undesirable precedent,” he said.

President Cyril Ramaphosa criticized the country’s largest banks for failing to disburse loans quickly under the initiative launched in May. The South African Banking Association said total allocations are unlikely to reach 10% of program capacity.

The program is scheduled to expire on April 11. A review by the banking association found that many business owners had opted for relief agreements with their individual banks rather than program loans.

If the decision is to forgo payment of loans already issued, the cost “would be too high at a time when South Africa is under extreme fiscal pressure,” according to Tshabalala. The country in the meantime needs its resources to pay for vaccines and other medical supplies, he said.

Backup plan

Ramaphosa’s administration unveiled a 500 billion rand support package last year by re-prioritizing spending from existing budgets. Banks have been strung together to distribute government-guaranteed loans to small and medium-sized businesses, starting with R100 billion in disbursements before doubling down.

The National Treasury did not immediately respond to questions about the future of the program after April 11. The South African Reserve Bank referred the requests to the National Treasury.

While there was disappointment as to how the program fell short of its capacity, the banks’ efforts could not go further to counter the effects of the country’s deepest economic contraction in a decade. century, said Tshabalala.

“Good businessmen are never eager to take out a loan unless they are sure of their ability to use the funds productively and their ability to repay the loan,” he said.

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EFL hopes for full league, Ligue 1 and Ligue 2 games next season, says CEO Trevor Birch | Football News https://himspairport.com/efl-hopes-for-full-league-ligue-1-and-ligue-2-games-next-season-says-ceo-trevor-birch-football-news/ https://himspairport.com/efl-hopes-for-full-league-ligue-1-and-ligue-2-games-next-season-says-ceo-trevor-birch-football-news/#respond Wed, 07 Apr 2021 23:15:42 +0000 https://himspairport.com/efl-hopes-for-full-league-ligue-1-and-ligue-2-games-next-season-says-ceo-trevor-birch-football-news/ EFL chief executive Trevor Birch remains cautiously optimistic clubs will be able to kick off the 2021/2022 campaign in front of crowds at full capacity. This month’s Carabao Cup final between Manchester City and Tottenham will see 8,000 spectators in attendance, with tickets available for fans of both clubs, residents of the Wembley area and […]]]>

EFL chief executive Trevor Birch remains cautiously optimistic clubs will be able to kick off the 2021/2022 campaign in front of crowds at full capacity.

This month’s Carabao Cup final between Manchester City and Tottenham will see 8,000 spectators in attendance, with tickets available for fans of both clubs, residents of the Wembley area and NHS workers. The FA Cup semi-final between Leicester and Southampton on April 18 will also see 4,000 supporters return to the national stadium.

It is hoped that the government events research agenda to allow the safe introduction of mass gatherings and indoor events as lockdown restrictions are eased in England will ultimately lead to an increase in number of participants.

Should the pilot – which could also lead to an increase in attendance for the FA Cup final on May 15 – prove to be a success and the road to exiting the lockout continues to follow the government’s roadmap , then the lifting of all social distancing measures is scheduled for June 21. .

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Birch said the governing body was working “hell for the leather” to try and facilitate the venues return to full capacity next season.

Along with the NHS enforcement, a Covid certification scheme, which could include proof of vaccination, a negative test result, or detectable antibodies, should help reopen the company.

Birch believes that whatever national and local measures are in place, there is real hope for a return to some sense of normalcy for the next campaign.

“Our aspiration and our goal is that from August 6 we will be back in full swing in accordance with the government’s roadmap for unlocking the economy from June 21,” he said. .

“Hopefully the outcome of all these test events will help and hopefully lead the government to allow us to do this.

“The key will obviously be to try to mitigate the spread by removing the need for social distancing that leads you to Covid certification, which will undoubtedly have a role to play moving forward.”

Birch added: “I am positive, our aspiration must be that [full grounds].

“We are not blind to the issues surrounding the difficulties in getting there, but we hope that the introduction of Covid certification, which seems to be the direction of travel, may well help us reach that level.”

Northampton Town, Wycombe Wanderers and Fulham won promotion to Ligue 2, League 1 and Championship via play-offs last season
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Birch says EFL is working to make Sky Bet Championship, League One and League Two play-off semi-finals played in front of fans

In addition to the fans in attendance for the EFL Cup final, Birch said the governing body is working to enable fans to attend the semi-finals and finals of the Sky Bet Championship, League One and League Two play-offs from this season.

He said: “It won’t be a test event as such, but May 17th is another date along the government’s roadmap, so hopefully there will be fan feedback for them. semi-finals and the final.

“We are working in this direction, we have a club meeting tomorrow where we will discuss the possibility of the supporters returning in limited numbers for these semi-finals.”



Hasenhuttl PA







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Southampton boss Ralph Hasenhuttl has said fans will return to Wembley for their FA Cup semi-final against Leicester and want NHS workers to receive tickets.

The EFL chief executive knows it is “vital” that clubs can once again get fans through the turnstiles, with a rough estimate of the collective financial impact of around £ 250million.

“This was offset by a few mitigating factors that kept clubs surviving – the championship loans, the Premier League bailout from leagues one and two,” Birch said.

“We had postponements and salary cuts, blocking the HMRC app, iFollow also helped, so there were mitigating aspects – but another season behind closed doors would have been unpleasant for most clubs.

“We are trying to create certainty in a very uncertain situation to allow clubs to plan and give them confidence in planning for next season.

“Looking positively towards the future, we have the date of June 21 where ‘all systems are gone’, but with a few caveats about it, but we have to plan accordingly.

“The clubs all want to know what to do in terms of season tickets, whether we have to offer iFollow or whether we are confident of bringing fans back early.”

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Make Wise Use of Stimulus Funds News, Sports, Jobs https://himspairport.com/make-wise-use-of-stimulus-funds-news-sports-jobs/ https://himspairport.com/make-wise-use-of-stimulus-funds-news-sports-jobs/#respond Wed, 07 Apr 2021 23:15:42 +0000 https://himspairport.com/make-wise-use-of-stimulus-funds-news-sports-jobs/ Over the past two years, Weirton officials have been making plans for expanding the city’s utility plants, all with the goal of increasing processing capacity in anticipation of the community’s future development. Plans call for the water treatment plant to grow from its current capacity of 4 million gallons per day to 8 million, with […]]]>

Over the past two years, Weirton officials have been making plans for expanding the city’s utility plants, all with the goal of increasing processing capacity in anticipation of the community’s future development.

Plans call for the water treatment plant to grow from its current capacity of 4 million gallons per day to 8 million, with the sewage treatment plant also increasing from 4 to 8 million gallons, with a potential of 4 million. additional liters in the future if it is ever needed.

We also learned last week that both projects are expected to be completed sometime in 2024, once designs are completed and approved, contractors are selected and construction begins.

One thing that is not yet established is how these projects will be funded.

Design loans have been guaranteed through the West Virginia Water Development Authority, with several sources of funding being considered for the construction phase, including loans through state and federal governments. Grant opportunities are also being discussed.

One option, which was raised at a board meeting last week, was the ability to use some of the funds Weirton expects to receive as part of the US bailout.

This block of COVID stimulus funds, with dollars to be allocated directly to both states and local governments, will see millions of dollars reaching our communities. Federal officials have specified uses of the funds that may include improving infrastructure, such as water, sewage and broadband.

This means Weirton’s utility projects would be a perfect use for ARP dollars, and we encourage Weirton officials to seriously consider using as much as they can for these plans.

We don’t know exactly how much the expansions will cost once they are completed, but we do know it will result in higher rates for local residents and businesses.

The fewer loans taken out to pay them off, the less expected an increase. So if grants or ARP funds can be allocated to these costs, it is less money that the city has to borrow and it means less increase for the inhabitants of the city.

It will be good for everyone.

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