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I needed a way to help get my credit score up and was the perfect fit for the Wells Fargo Business Secured Credit Card. The low minimum deposit made it possible for me to get on track towards building my credit up. I have had no issues thus far and the fees are very reasonable.
I operate a small business and use Wells Fargo for both my checking and savings accounts. When I needed a line of credit it was a simple and painless process to get the Platinum credit card that they offered. It has served me well and been reliable to this day, I fully recommend it. The annual fee is very small and the interest rates are acceptable, especially if you are just starting your business and don't have a long credit history yet. The customer service at Wells Fargo is exceptional and they do a great job at not making you feel bad for having low credit.
I was a Bank of America person, I had used them for several years but a friend of mine works at a Wells Fargo and he told me about their checking and savings accounts. I was looking for an account to receive direct deposit with and when he told me that I could receive direct deposit and the account would be free as long as long as they totaled $500 in a month. This was perfect for me because I was paying 120 a year at Bank of America and I wasn't pleased with their service. I was constantly having problems with my old account and since switching to Wells Fargo I actually worry about my finances a lot less. I actually feel like the people there are genuinely interested in helping me succeed and I would recommend their value checking account to absolutely anyone.
I am really pleased with Wells Fargo so far. I have just recently made the switch from Bank of America and one of the best things about switching has been the service. I am treated with respect at the branch and I never got that at Bank of America. What's more, Wells Fargo got me set up with a real business checking account for the small business I run so I could take advantage of it. The business checking account only requires an automatic deposit of 150 dollars from checking to savings and it's free! You can even transfer the 150 right back to checking if you want. This is a substantially better deal than paying 120 dollars a year at Bank of America just for their awful service. Now I have online banking, mobile banking, and feel like my money is safer overall with the people at Wells Fargo.
When I was 15 and first getting on the road I have to admit I have had my share of tickets, fender benders, and even accidents. I've even had some near misses that were really close calls. I have insured my vehicle through Nationwide for years now. They were the lucky ones who got to deal with my unlucky attraction to other vehicles. They were rarely my fault but each time I was hit meant lots of time dealing with the aftermath. Nationwide has not only been there without question through the trying times after an accident but they have even been supportive! I have friends who when they deal with their agents say that it is a completely unpleasant experience and they hate their insurance company. The exact opposite is true for me, I actually enjoy talking with my agent and we have been actually developing a sort of friendship. At least she has always been sincere and helpful so the customer service is amazing. I have to mention as well that Nationwide deals with my claims faster than I have heard of any other claims taking. One of my first accidents was a rather nasty head when a senior drifted into the oncoming lane, and I was done dealing with it and cashed out within two weeks. I was recovering for a lot longer but the less time I had to spend on the claim meant the more time I had to heal, so I give them two thumbs up for the speed of dealing with claims as well.
While on vacation this card actually saved me a lot of head aches. I was in Key West in Florida and the second day there a suitcase was stolen with my wallet and clothes in it. It nearly turned my whole experience upside down! After the realization sunk I was beginning to despair and then I remembered taking my Discover card out when I went to the bar in the pool! Thanks to Discover for having the hassle free service with low APR that they do, because I was forced to put the rest of my trip on that card. I was able to take a breath and relax even though a lot of important things in my wallet were gone and a lot of money. I didn't have to go back home or call anyone for help. It totally saved the experience for me and although my first time to Key West wasn't the most memorable, I didn't have to let someone else's criminal behavior influence my time to be on vacation. I really owe that to Discover for their flexibility and thanks to their rewards program I was even able to recoup some of the money that had been stolen. I would recommend this card to anyone and I'm still using it today.
Spokane Teachers Credit Union was the bank of all the adults and successful professionals when I was growing up but I never expected I would qualify since I'm not a teacher. It turns out that you don't have to be a teacher and STCU provides the same banking treatment and quality customer care whether you're a principle or a janitor. They have the most awesome locations with huge flat screens to occupy kids, beverages, and enough tellers that you are never waiting long.
Most people do not understand all of the services that come with the Black Card. Besides offering worldwide acceptance, cash back bonuses, and a 24-hour concierge service, your purchases are insured and you even have my favorite perk, the VIP lounge program that provides access to many private airport lounges. You also don't want to underestimate the concierge service because it does provide a wide array of useful services that include entertainment planning, business services, travel information and assistance any time you need it. If your work calls you to travel frequently and you can afford the price tag of $495 a year, then I would recommend the Black Card as one of the premiere luxury credit cards.
Since changing to Wells Fargo I have been absolutely amazed at the quality of service that they offer. I even find myself finding reasons to go to the bank, I enjoy visiting with the employees and the vibe of the bank that much. The savings account that they offer is wonderful. Way2Save savings accounts come with no strings attached and I don't even have to pay for it as long as I transfer at least $150 to my savings account from my checking. I think this is a wonderful approach because it is an attainable amount for me (and I'm sure most people) to put into savings. I find that it is reminding me to transfer money to savings and I otherwise might not have been as diligent about doing it. Wells Fargo way2save savings accounts are wonderful for people beginning banking and long time bankers alike. I fully recommend Wells Fargo for your savings account and I truly believe you will find it a wonderful experience!
This is the best card for someone who is into technology. I consistently save 5-20% on purchases made at best buy. Through Best Buy's reward points program I also earn 5x the reward points on purchases at Best Buy which ends up being a lot gift cards. I can personally recommend this credit card, I mean most of the expensive things you would put on credit or otherwise are going to be electronics anyway. Best Buy doesn't have the best prices if you're not signed up for rewards, so the way I see it this is a win both ways.
Until I applied for Farmer's Insurance, I felt that all activities related to insurance were a headache and I even dreaded calling companies for quotes. I have to say I feel very fortunate to have been recommended to Farmer's Insurance when I was because I was quite frustrated after trying twice at other companies for a quote and being dissatisfied with the whole experience. That changed when I called Farmer's. I do not work for them nor know anybody that does, I am just a customer that wants to share the positive experience that I had with them. From the beginning to end, the process of getting my car insured with Farmer's was actually a pleasant one. The representative who helped me first get my quote put me at total ease and I felt that he was actually trying to get me the best quote possible. He was very polite and helpful and made the process so painless I would actually do it again. Since then I have had no problems with Farmer's whatsoever and my monthly amount is far less expensive than any other quote i got. From an ordinary persons perspective who is just needing basic car insurance I can say from experience that Farmer's is an excellent choice and their representatives will take good care of you!
Sterling Bank, formerly Sterling Savings Bank, has been there for every step of my financial life. I began using them at 14, when I created a checking and savings account to deposit checks from lawn mowing jobs. They have made a substantial impact on my life, I will list three top qualities for how they have done this. The first being presentation, at every branch you will be hard pressed to find a cleaner location, inside as well as out. This extends to their employees as well for always have the highest degree of hygiene and professionalism. Such attention to detail translates to there business, and I have never not once in ten years of being a customer had a single problem, error, or identity theft. Secondly, the rates they offer are amazing, having two accounts with them I never was charged a penny for the service, and the checking account includes personalized checks, all for free. For someone like me who just needs an account for direct deposit or transferring from Paypal, they have been the ideal option, and I have used national banks such as bank of america as well, they all have hidden fees that if requirements are not met you will be charged a certain amount every month. Finally one of the top attributes of this company, their speed of service! You better be ready when you head to sterling because they know you have busy schedules and breaks that are ending and somehow manage to deliver professional courtesy while conducting business in the speediest way possible. There are many other reasons that I would recommend this bank, the three I have listed should give a good idea that your money is well placed in their hands. I would recommend opening both savings and checking accounts at this bank.
Home equity loans are tax deductible under the home mortgage interest deduction. By definition in this case, 'mortgage' refers to any mortgage on your home, including a second mortgage. It is also possible to qualify for this tax deduction with a line of credit or a home equity loan. So to answer your question directly, yes. Home equity loans are tax deductible. To be more specific, the interest of your home equity loan is what is actually tax deductible. So before you get your hopes up too high you should know that the tax deduction is limited. Here are some of the qualifying criteria:
First of all, the home equity loans tax deduction is only available on the interest of your first or second mortgage. It is essentially a booster to encourage people to purchase their first or second homes in a time when the economy hasn't been the greatest for homeowners.
Second, you can usually deduct interest from the first $100,000 of a home equity loan but after that there are more specific requirements that are determined more on a case by case basis. Tax laws are complex and are constantly changing so be sure to examine the specific requirements in your state.
If you would like to know more about the tax law when it comes to the tax deduction you qualify for on your home equity loans, you can read IRS Publication 936 Section 2. Another good resource is the official IRS website at 'irs.gov'. I fully recommend spending a little bit of money for some counsel from a tax advisor who can better answer your question with more details of your specific circumstance. It is much more worth it to spend a little extra money in the long run to ensure your tax deductions are legal.
A hybrid loan can mean a couple of different things but typically refers to a special type of mortgage which essentially combines the benefit of adjustable-rate mortgage and a fixed-rate mortgage. The term "hybrid" in all honesty is sort of used to soften the blow of the reality of this type of situation which usually involves equity and debt. The most common hybrid loan combines aspects of fixed-rate and adjustable-rate mortgage to ensure a high interest rate is paid. The key factor here is that the high interest will be set locked for a longer period of time than it otherwise would be in a normal loan. Even when this initial period, which usually lasts 2-6 years, is over the interest rate is often adjusted in the lender's favor. A hybrid loan is sometimes also referred to as an "intermediate ARM", or a "fixed-period ARM", where "ARM" stands for adjustable mortgage rate. In these types of loans, the interest rate on the loan will be fixed as I mentioned before and is then adjusted to market rates, which can be a one time change or sometimes it can change several times over the course of a loan term.
Pros: One benefit of a hybrid mortgage is that the fixed term of the loan is often a lower interest rate than a 30 year fixed rate loan would be making it more attractive to borrowers with less than ideal history. Another perk of the hybrid loan is if you move or refinance before the interest rate is adjusted, which is typically at the end of the 2-6 year period where the interest rate was guaranteed not to change that I mentioned before, you will not have to worry about rates going up.
Cons: Some of the drawbacks to the hybrid loan include prepayment penalties that are in place to discourage you from paying off the loan early.
A reverse mortgage is basically a repayment of a homeowner's equity that is available to help those who are getting on in their lives and is only available to seniors aged 62 and above in the United States. There is a reason for the age restriction, which is actually 55 in Canada and can vary depending on the country and financing company's specific requirements. It essentially has to do with how much remaining time the individual will be occupying the home.
A reverse mortgage in simple terms is allowing the bank to repossess the house but not until after you've passed away. There are many advantages for people to do this. The motives of the financial companies are questioned but they are common nonetheless. Besides the age requirement the borrower must own the property, or nearly own the property, to be eligible for the reverse mortgage. The motivation for a bank to provide a reverse mortgage includes the guarantee they will own the home in the future and that the homeowner's loan will be repaid in full often with less legal expense than a foreclosure would accrue.
There are exact parameters involved that are laid out and the age of the person is directly related to the Principal Limit Factor. The maximum claim amount is multiplied by a principal limit factor to determine the principal limit. Loan costs, existing liens, and taxes are then subtracted from this principal limit and the result after this is the net principal limit which is the amount that will actually translate to cash for the borrower. The most common reverse mortgage is the one that allows the borrower to receive this net principal limit in the form of a credit line from their home in the form of a monthly payment, or sometimes even as a lump sum.
I hope this helps to explain what a reverse mortgage is and how it works. Please consult with your financial adviser about your options and whether a reverse mortgage is right for you.
To calculate your home's equity you will need two things first: the value of your home and how much you still owe on your mortgage. In order to find out an accurate estimate of your home's value there are a couple of ways to do this.1) If you're looking for a free estimate there are numerous resources available online. Simply do a keyword search for "find my home's value" and you will see several of the top real estate websites that are almost guaranteed to have your home's current market value listed. If you are looking for a more exacting estimate, the other option is to hire a real estate agent or other broker to inspect your home and come up with a thorough estimate.