Ask the Expert: Does mortgage insurance make sense? Dec #uk #mortgage #rates


#mortgage disability insurance

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Think twice before buying into one of the many pitches for different insurance products.
December 19, 2003: 9:31 AM EST
By Walter Updegrave, CNN/Money contributing columnist

NEW YORK (CNN/Money) – I am being offered mortgage protection insurance. Is it worth the cost?

— James Lawrence, Tampa, Florida

Before I answer your question, let’s be sure we’re both talking about the same type of mortgage insurance. There are actually two kinds, and they provide very different types of coverage.

First, there is the type known as private mortgage insurance, or PMI as it’s known in lending circles.

If you are buying a home and putting up a downpayment of less than 20 percent of the home’s value, then generally you don’t have a choice of whether to buy this type of insurance. The lender requires it.

Why? Because PMI isn’t there to protect you — it’s there to protect the insurer in the event you default on your home loan and the lender isn’t able to re-sell your home for enough money to pay off the mortgage.

The cost of PMI varies, but a rule of thumb is about one half of one percent of the loan amount.

So if you’re buying a house for, say, $150,000 and putting 10 percent down ($15,000), the annual cost of PMI on your $135,000 mortgage might run $675 a year, or $56.25 a month.

In years past, some lenders would continue to collect PMI premiums even after the mortgage balance had fallen to well below 80 percent of the home’s original value. But Congress passed the Homeowners Protection Act of 1998, which allows homeowners to request that the lender cancel PMI when the mortgage loan-to-value ratio falls to 80 percent and requires the lender to cancel it when the ratio falls to 78 percent.

By the way, appreciation in the home’s value isn’t taken into account in calculating this ratio — only the decline in the mortgage balance counts.

There are also some other qualifications that may affect your ability to cancel PMI. For more on what the bill requires of you and the lender, click here.

Mortgage life insurance

The second type of mortgage insurance is the type that usually goes by the name mortgage life insurance.

Here, you’re being offered the chance to buy an insurance policy that will repay your mortgage in the event of your death, disability or some incapacitating disease.

This offer — typically by mail — often comes from your lender or an insurance company affiliated with that lender.

This type of insurance is purely voluntary, however, so the question is, should you buy?

Generally, I’d say the answer is no.

It rarely makes sense to buy insurance for narrow reasons — to insure against a specific disease or a single calamity or to provide funds to pay off a single liability, in this case your mortgage.

In the case of life insurance, for example, you’re much better off analyzing your overall insurance need based on what kind of liabilities your spouse or other dependents would face and how much income they would have to replace if you were gone, and then buying enough insurance to meet that need.

Fact is, if you died tomorrow, your dependents would need to replace your income for a variety of reasons, not just to pay the mortgage.

Indeed, it might not even make sense to pay off the mortgage. Your spouse or other survivors might be better off continuing to pay the loan — assuming that’s possible — and putting insurance proceeds to other purposes.

In other words, you should take your overall financial picture into account when buying life insurance.

And the way you should do that is to have a financial planner or life insurance agent perform what’s known as a “needs analysis.” You can also use any one of a number of insurance needs calculators online, including the calculators at The Life and Health Insurance Foundation for Education site and TIAA-Cref site.

Of course, that leaves the question of what type of insurance you should buy — whole life, term, etc. — and the issue of how to shop for the best price for a policy.

For more on those topics, see a column I wrote last year called “Life insurance made easy .”

The same goes for disability insurance. You should consider a long-term disability insurance policy not just because you have an outstanding mortgage, but because you would likely need to generate income for a variety of reasons even if you were disabled and unable to work. For more on choosing a disability policy, click here.


What does SSO stand for? #what #does #sso #stand #for?, #what #does #sso #mean?, #sso


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What does SSO mean?

Sso The Sso was an initiation rite practiced by the Beti of Cameroon in the 19th and early 20th centuries. The participants were young men between 15 and 25 years of age who, by completing the rite, became adults and enjoyed added privileges, such as passage into the land of the ancestors at death. Each boy was sponsored by an esia Sso. The sponsor of the rite was a village headman; he was expected to provide food and lodging for guests and to pay for several large feasts during the rite’s six-month duration. Other important figures were the zum loa, who revealed past sins that the sponsor had committed and which would be expiated by the rite’s completion, and the mfek Sso, who organised and administered the rite. The Sso candidates lived away from the sponsor’s compound in a barracks called the esam Sso. The rite consisted of numerous feasts for the sponsors and elders and harrowing trials for the candidates. The boys had no instruction or supervision and relied on hunting and stealing to survive. After five months, the mfek Sso gathered the candidates around the ritual Sso tree and signalled the rite’s last stages. In the final ordeal, the boys danced around their compound, were sprayed with ants or itching powder, and crawled through a tunnel from the esam Sso to the sponsor’s compound. After one final hunt, the rite was completed and the boys obtained adult status.

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Acronyms Abbreviations


How Much Does Rehab Cost? We Do Recover, how much does rehab cost.#How #much #does


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How Much Does Rehab Cost?

While recovery from addiction may be priceless, receiving treatment inside a rehab does cost money.

However, the actual cost of it will vary from rehab to rehab as there are certain factors that play a role in determining what it will be.

The good news is that all of the rehabs that WeDoRecover can offer you accept South African medical aid schemes from all major service providers that cover the bulk of the price of a 4 week stay, making the cost of treatment much more affordable for our patients.

However, should you not have a medical aid, cash will also be accepted and in some cases we can liaise with the clinics to try and provide you with a subsidized rate.

To find out more about the costs of rehab, continue reading below and we’ll provide you with everything you need to know.

What Affects the Costs of Rehab?

As we mentioned above, the actual costs of rehab will be determined by various factors which include:

  • The quality of the facility and the services they provide
  • The length of your treatment program
  • The type of treatment program (Inpatient, outpatient etc.)
  • Where the rehab is situated

If a rehab centre offers facilities and services that include top class 24 hour medical care, professional chefs to ensure that their patients are on top of their diets, gym facilities to help them get back on track physically and private rooms to ensure that every recovering addict has their own privacy, it will cost a good sum of money.

The length of the treatment program customised to your needs will also have an effect on the bills. Some addicts might need a 30 day (4 week stay) in rehab, while others might need a 90 day stay in the clinic, however this period will be determined by the nature and severity of the addiction suffered.

The type of treatment program that you receive will also have a say in the cost of rehab. A residential stay inside a facility or inpatient treatment as it is commonly known as will cost more than outpatient treatment, which doesn’t require the patient to actually live in the clinic.

Also, where a rehab is based will also have a knock-on effect on the amount you will have to pay. For example, a clinic situated on the beachfront will cost more than a facility in a suburban area.

While the costs of rehab may seem high, it’s important to keep in mind what will the costs be if you allow your own or your loved ones addiction to continue.

Maintaining an addiction is very pricey, the actual costs of drugs are expensive, the lack of productivity at work could lead to job loss which may cause financial strain and the legal costs medical bills can be humongous.

The cost of addiction on relationships with family members and friends can sometimes be irreparable and the health effects of it can lead to death.

We urge you to not be scared away by the price, because like you, we only want what’s best for you or your loved one.

To find out more about the costs of rehab, feel free to contact us now and we can find a rehab centre to not only suit your pocket, but most importantly to suit you or your loved ones needs.

How much does rehab cost


Does it Make Sense to Buy a Second Home? #century #21 #mortgage


#second home mortgage

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Does it Make Sense to Buy a Second Home?

Before you apply for a second mortgage, keep these factors in mind. (iStockphoto)

Owning a second home may sound like something only the wildly rich do, but that isn’t always so. Sometimes people buy a new house when they haven’t had success selling the first. Other homeowners might like the idea of buying a second home to fix up and sell at a fat profit – or to rent out.

For the right individual, two homes may be a great plan. But for the wrong homeowner, plenty can go awry. If you’re thinking of getting a second mortgage for practical or profitable reasons. now is a good time to have second thoughts, because …

1. You need to have plenty of money. You don’t have to belong to the 1 percent to pull this off, but for a bank to allow you to purchase a second home without plans to sell the first, you can’t be just getting by, hoping a second house will fix your financial picture.

“Underwriters will want to know you have significant reserves – potentially a buffer worth six months of payments on both properties – before approving the loan,” says Brian Seibert president of Michigan First Mortgage in Waterford, Michigan.

And while every lender will be different. as a general rule, you’ll need to pay a higher down payment for a second home than you would a first, says Riccardo Ravasini, owner of Rava Realty in New York City. “Say, 30 percent or more,” he says.

2. You shouldn’t have too much debt. You’re taking on more debt when you buy a second home – something lenders take into account. In fact, your debt-to-income ratio is usually the primary issue for lenders, says Stefani Markowitz, CEO and president of Charles Rutenberg LLC, a real estate agency in New York City.

“In most cases, the debt ratio can be 36 percent to 42 percent,” Markowitz says. That means, of course, that your debt – including mortgages, credit card debt. car loans and student loans – shouldn’t exceed that 36 to 42 percent.

Of course, if you’re planning to offset some of that debt by bringing in monthly rental income from your second home, mention that to your lender, Markowitz says.

“Renting out a home certainly lowers the risk of being rejected by a mortgage lender … the general rule of thumb is to provide as much reassurance as possible,” Markowitz says.

3. You have to spend money to make money. It isn’t just that you’ll need a hefty down payment. Your monthly mortgage may well be higher than it would be if you just had one home.

“Because investors are viewed by banks as riskier customers, they are often subjected to higher interest rates,” says Rhonda Duffy, a Georgia-based real estate agent who owns Duffy Realty of Atlanta. “To avoid financing issues, many investors use cash financing or existing lines of credit to purchase investments.”

You are also going to be maintaining two homes. You thought it was hard to make sure the bushes were trimmed for one house? Now, you get to double the fun.

“Most people grossly underestimate the carrying costs of the investment in real estate. It’s more than just taxes and insurance,” says Celandra Deane-Bess, a vice-president with PNC Wealth Management in the District of Columbia. Consider this scenario: Eventually – assuming you are hanging onto the second house and not selling it soon – you’ll have two roofs to replace, two homes to paint and twice as many appliances, such as hot water heaters and refrigerators, to purchase, she says.

If you’re spending money and losing money on the house but are truly looking at the property as a long-term investment, it may not matter to you to do that for awhile, Duffy says. Some homeowners “are happy to take a loss on a property in the short term, and build up equity for a future period, such as retirement.”

4. The buyers and renters may not come. Just because you have grand plans of renting out or selling a second home doesn’t mean things will work out that way. If you’re investing money into fixing up a property, that takes time – time that translates into money, Duffy says.

“Every day that an investment property sits empty means a loss in profitability to an investor,” she says. “All repairs and renovations must be completed quickly in order to have the fastest turnaround … Even with quality contractors, investors typically spend a significant amount of time working on houses, selecting paints and flooring, purchasing appliances or attending to the other details required to transform a home.”

Even if you bought a fixer-upper that’s all fixed up, you have to hope a renter or seller signs on the dotted line as soon as possible. And then, if you’re renting the place, you have to hope your tenant sticks around.

“Personally, I don’t recommend that my clients rely on sources of income that could suddenly stop. You have to be comfortable that if the property is not rented out, you’ll still be on solid footing,” says Kurt Fillmore, president of Wealth Trac Financial Group in Southfield, Michigan. (And back to the having-plenty-of-money point – Fillmore recommends having six months of emergency funds to cover the mortgages of both houses, in case something goes wrong.)

5. All of this is harder than it looks. Even if you sell or rent out a second home fairly quickly, you could have plenty go wrong later.

Seibert isn’t just the president of a mortgage company. He has been renting properties for 20 years.

“From my own experience as a landlord, I’ve learned that it’s critical to prepare for the worst,” he says. “I’ve had tenants spray paint the insides of houses, start fires indoors and attempt to flush tennis balls down the toilet. It happens with both high-priced and low-priced properties. You have to be financially ready in case the damage goes far beyond the safety deposit.”

He also observes: “Municipalities that react slowly to delinquent renters – such as Wayne County here in Michigan – can cause significant headaches for landlords. Not only are you likely to lose at least three months of rent income before any changes can begin to take place, these renters often don’t do any favors in the upkeep of the house itself.”

Fillmore even goes so far as to discourage folks who are retiring or approaching retirement from acquiring a second home – especially if they’re going to rent it out – simply because of the headaches tenants can bring.

“Real estate, even on a small scale, should be seen as another job or career,” Fillmore advises. “While it may be the right fit for some, it’s not for everyone.”

It gets even harder if you’re trying to flip houses and are solely thinking of them as investments. For instance, Deane-Bess warns that you should “understand the tax implications of short-term gains and non-primary-residence sales.”

Michael Rosenberg, a financial advisor at Diversified Investment Strategies in Livingston, New Jersey, agrees that investing in real estate can get really complicated.

“I only would recommend a second home purchase if you are going to take advantage of the $500,000 for married couples and $250,000 for individuals deduction that you can make without incurring capital gains tax – as long as it was your primary residence for two years before the sale,” he says.

Beyond that, Rosenberg says he wouldn’t advise buying a second house unless you are a real estate developer: “I would warn the average person not to get involved unless they have a unique expertise,” he says.


How does interest on your mortgage work? #mortgage #loan #calc


#mortgage interest

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How does interest on mortgages work?

Ready to find a mortgage?

On the whole, the lowest interest rates are available to borrowers who have large deposits, or in the case of those remortgaging, significant equity in their property. Typically, you’ll need at a deposit of at least 40% to be eligible for one of the best rates. If you have only 10%, there are mortgages available but you’ll probably pay a higher rate.

This is advertised as loan-to-value (LTV). So if you see a mortgage with a 60% LTV it means you can borrow up to 60% of the property’s value. In other words, the minimum deposit you’ll need to put down is 40%. A mortgage with a maximum LTV of 90% is available to those with a deposit of 10% or more.

Don’t only look at the interest rate, though, you need to take the fees into account too. Our guide on fees will tell you more.

How does a mortgage work?

Your mortgage is made up of the capital – the amount you’ve borrowed – and the interest charged on the loan. With most mortgages you pay off the capital and interest monthly over 25 or 30 years, which is why they’re called repayment mortgages.

In the early years, most of your payments go to paying off the interest with a smaller part reducing the capital. As you get nearer to the end of the term, it switches so that you’re paying more off the capital each month.

You can opt for an interest-only mortgage where, as the name suggests, you just pay the interest every month. However, you’ll have to pay off the capital eventually so it’s important to have a repayment plan in place. The number of lenders offering interest-only mortgages has reduced over the last few years because there are concerns that many of those who have them have no repayment plan in place and could be left unable to pay back the capital at the end of the term.

Ready to find a mortgage?

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Islamic Mortgages: In a nut shell how does an Islamic mortgage work for different types


#islamic mortgage

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In a nut shell how does an Islamic mortgage work for different types of purchases?

  • you choose property, agree price, undertake survey
  • bank enters into contract to buy the property from vendor
  • bank sells property to you at higher price
  • the higher price is paid by you in equal instalments over a fixed term, irrespective of what happens to Bank of England base rate
  • choose property, agree price
  • bank undertakes survey, buys property and sells it to you for the same price, in return for payments spread over fixed period up to 25 years
  • in addition to monthly payments, you pay a sum for ‘rent’ – assessed annually in line with market trends
  • you can overpay (as with a conventional flexible mortgage) to buy the house more rapidly

Replacing a conventional mortgage with a Shariah compliant one:

  • bank buys property from you at current market value
  • you agree to buy back the property at the same market price
  • the bank pays off your interest-based mortgage
  • you repay the bank in equal monthly instalments

Copyright 2011 Islamic Mortgages.co.uk Please read our Terms and Conditions
The entire product range offered on this website is Shariah compliant. However, from time to time we will promote relevant none Halal products where no Islamic / Halal alternatives exist. Your home is at risk if you do not keep up monthly payments due under an Islamic / Halal mortgage agreement (your lease and / or diminishing ownership agreement).


Ask the Expert: Does mortgage insurance make sense? Dec #mortgage #loan #calculators


#mortgage disability insurance

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Think twice before buying into one of the many pitches for different insurance products.
December 19, 2003: 9:31 AM EST
By Walter Updegrave, CNN/Money contributing columnist

NEW YORK (CNN/Money) – I am being offered mortgage protection insurance. Is it worth the cost?

— James Lawrence, Tampa, Florida

Before I answer your question, let’s be sure we’re both talking about the same type of mortgage insurance. There are actually two kinds, and they provide very different types of coverage.

First, there is the type known as private mortgage insurance, or PMI as it’s known in lending circles.

If you are buying a home and putting up a downpayment of less than 20 percent of the home’s value, then generally you don’t have a choice of whether to buy this type of insurance. The lender requires it.

Why? Because PMI isn’t there to protect you — it’s there to protect the insurer in the event you default on your home loan and the lender isn’t able to re-sell your home for enough money to pay off the mortgage.

The cost of PMI varies, but a rule of thumb is about one half of one percent of the loan amount.

So if you’re buying a house for, say, $150,000 and putting 10 percent down ($15,000), the annual cost of PMI on your $135,000 mortgage might run $675 a year, or $56.25 a month.

In years past, some lenders would continue to collect PMI premiums even after the mortgage balance had fallen to well below 80 percent of the home’s original value. But Congress passed the Homeowners Protection Act of 1998, which allows homeowners to request that the lender cancel PMI when the mortgage loan-to-value ratio falls to 80 percent and requires the lender to cancel it when the ratio falls to 78 percent.

By the way, appreciation in the home’s value isn’t taken into account in calculating this ratio — only the decline in the mortgage balance counts.

There are also some other qualifications that may affect your ability to cancel PMI. For more on what the bill requires of you and the lender, click here.

Mortgage life insurance

The second type of mortgage insurance is the type that usually goes by the name mortgage life insurance.

Here, you’re being offered the chance to buy an insurance policy that will repay your mortgage in the event of your death, disability or some incapacitating disease.

This offer — typically by mail — often comes from your lender or an insurance company affiliated with that lender.

This type of insurance is purely voluntary, however, so the question is, should you buy?

Generally, I’d say the answer is no.

It rarely makes sense to buy insurance for narrow reasons — to insure against a specific disease or a single calamity or to provide funds to pay off a single liability, in this case your mortgage.

In the case of life insurance, for example, you’re much better off analyzing your overall insurance need based on what kind of liabilities your spouse or other dependents would face and how much income they would have to replace if you were gone, and then buying enough insurance to meet that need.

Fact is, if you died tomorrow, your dependents would need to replace your income for a variety of reasons, not just to pay the mortgage.

Indeed, it might not even make sense to pay off the mortgage. Your spouse or other survivors might be better off continuing to pay the loan — assuming that’s possible — and putting insurance proceeds to other purposes.

In other words, you should take your overall financial picture into account when buying life insurance.

And the way you should do that is to have a financial planner or life insurance agent perform what’s known as a “needs analysis.” You can also use any one of a number of insurance needs calculators online, including the calculators at The Life and Health Insurance Foundation for Education site and TIAA-Cref site.

Of course, that leaves the question of what type of insurance you should buy — whole life, term, etc. — and the issue of how to shop for the best price for a policy.

For more on those topics, see a column I wrote last year called “Life insurance made easy .”

The same goes for disability insurance. You should consider a long-term disability insurance policy not just because you have an outstanding mortgage, but because you would likely need to generate income for a variety of reasons even if you were disabled and unable to work. For more on choosing a disability policy, click here.


How to Get Prescribed Xanax: 14 Steps (with Pictures) #how #long #does #it #take #to


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How to Get Prescribed Xanax

You may have heard Xanax is a good drug to use for anxiety and other disorders. That much is true. However, most doctors will not readily hand out prescriptions for this drug because it does come with some problems. Therefore, you will need to convince your doctor that you actually need the drug, mainly by showing that you have an anxiety disorder.

Steps Edit

Part One of Three:
Talking to Your Doctor or Psychiatrist Edit

Talk to your regular doctor about your anxiety. Sometimes anxiety can actually be a symptom of some other illness. Therefore, your doctor should check you out first. For instance, psychological symptoms can be a symptom of a neurological problem. They can also be the result of a medication you’re taking. [1]

Describe your symptoms thoroughly. Though it may be embarrassing to you to talk about how pervasive your anxiety is, your doctor needs to know the full extent of the problem. In fact, it might be helpful if you keep a journal of when you are having negative thoughts and the results, such as it stopped you from enjoying the moment or from going on an outing. [2]

Ask about a psychiatrist. Once your regular doctor checks you out, she will often recommend you see a psychiatrist, since psychiatrists are more qualified to prescribe psychiatric drugs. Therefore, if your doctor doesn’t make a recommendation, ask about seeing a psychiatrist. [3]

Describe your symptoms to the psychiatrist. Like you did with your regular doctor, you’ll need to describe your symptoms thoroughly. You’ll also need to be able to talk about their effect on your life. [4]

  • You need to be comfortable enough to talk freely about your symptoms. If the psychiatrist you see at first is not a good fit, don’t be afraid to find another one. [5]

Ask for a prescription. You need to approach this topic delicately, since the doctor may become suspicious if she thinks you came in just to get this medication; as noted, Xanax is often abused. However, it doesn’t hurt to ask for what you want.

  • For instance, you could say, “I’ve heard Xanax and other drugs like it can help with anxiety. Would that be an option for me?”
  • Never lead with this question with any doctor. Talk about your problems first, to help establish that you really do need it.

Ask about Xanax as a sleep aid. Another option is to ask for Xanax as a sleep aid in relation to anxiety. Some people take a very small dose before bedtime to help them sleep. Once again, never lead with a request for the prescription. First, describe how you have trouble sleeping due to racing thoughts or anxiety, then move on to asking if Xanax could be a possible solution.

Know what it is. Xanax is a type of sedative. [9] It belongs in a class of drugs called benzodiazepines, which in turn are grouped under central nervous system depressants. [10]

  • Xanax essentially slows down your nervous system, which is why it’s considered a tranquilizer. It does this by binding to receptors in your brain, slowing down your neurons. [11]

Understand what Xanax is prescribed for. Most often, Xanax is prescribed for anxiety. You may also have it prescribed for panic disorder, [12] though sometimes doctors are reluctant to prescribe it for this condition, as you often get panic attacks when you are relaxed. [13] Sometimes, it is used a sleep aid in a mild dosage. [14]

  • Xanax can stop or lessen panic attacks.
  • Xanax can get you through a crisis, such as a stressful exam or difficult meeting. The correct dosage will get your anxiety out of your way so you can focus properly.
  • It treats the symptoms, not the cause. Xanax is not a cure for an anxiety disorder. Talk with your doctor about what treatments can help you in the long term.

Know why your doctor might be reluctant to prescribe Xanax. Xanax can become addictive over time. [15] Therefore, this drug can be abused, [16] and it has been a factor in many overdose cases. [17]

It’s not a good idea to go off Xanax all at once. You should wean yourself off this drug under the guidance of a doctor. If you don’t, you may end up with withdrawal symptoms, such as tremors, sweating, nervousness, and even seizures. [18]

Xanax can temporarily ease anxiety and stop panic attacks, allowing you to get rid of your anxiety short-term so you can handle a situation without stress getting in your way. It will not cure an anxiety disorder. Seek therapy and/or long-term medication for your disorder in order to live a healthier, happier life.

DO NOT convince your doctor to prescribe you Xanax for any reason other than treatment. If you thinking that you or someone you know may be addicted to Xanax and is manipulating their doctor or therapist to have it prescribed to them, call an addiction hotline or find other means of assistance immediately.


How Much Does It Cost to Sell a House? #how #much #does #homeowner #insurance #cost


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How Much Does It Cost to Sell a House?

You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. Here’s how we make money .

If you re selling a home. you ll want to know how much it s going to cost you to close the deal. That way you can make a plan for buying your next house.

In addition to what s needed to pay off your mortgage, it’ s smart to plan to spend about 10% of the home price in selling costs. But some things are optional.

Selling your home: common costs

Real estate agent commissions: The seller’s agent usually charges 5% to 6% of the home purchase price when the deal closes. This is likely the biggest expense you’ll pay. Seller s agents usually split commissions with buyer’s agents, who generally don t charge their clients.

Commission fees are negotiable, however, and many real estate agents charge less. Some even accept a lower flat rate for their services, so it can pay to shop around. You can ask for recommendations from friends and neighbors, and search home shopping websites for local referrals. Whichever seller’s agent you choose, make sure you agree on commission terms in writing.

Taxes and neighborhood fees: You’ll owe a prorated share of property taxes when you sell your home. The amount could be close to zero if you’ve recently paid taxes, or several thousand dollars if the due date is around the corner.

In some states, you may also be charged a local transfer tax, which the seller pays in order to change the title from one person to another. Depending on location, the tax is generally 0.01% to 2% of the sales price. In addition to the local taxes, you may also face capital gains taxes if the profit you make from selling your home is more than $250,000 ($500,000 for married couples on joint tax returns).

If your neighborhood has a homeowners association, expect to pay prorated membership fees. You or the buyer may also need to pay an HOA transfer fee.

Title insurance for the buyer: This protects the buyer in case there’s an issue with the home’s ownership history.

Buyers also purchase a title policy if they apply for a mortgage, but that policy only protects the lender. Traditionally, the seller buys a separate policy for the new homeowner. The cost ranges from about $500 to $1,000.

The title company will run a title search on the property during the sale process. If a lien on your home is revealed, you’ll also need to settle it before you can sell the house.

Your current mortgage: It’s no surprise you’ll need to pay off your mortgage when you sell your home. But the payoff amount is probably different from the balance due listed on your last mortgage statement, because of interest charges. You’ll want to know the payoff amount. If your mortgage has a prepayment penalty, that will be added to the amount due.

Home repairs: Your buyer will probably order a home inspection before closing. If the report reveals problems, you may be asked to pay for repairs.

Moving costs: Whether you buy boxes, pack and move them yourself or hire a company, you’ll want to budget money for the actual move.

Selling your home: optional costs

Depending on how competitive your local market is, it can be smart to pay for extra services to attract potential buyers. They’re not always necessary, but in a sluggish market they could help your home stand out.

Home warranty: To ease potential worries about buying an older home, sellers can offer a home warranty that covers most of the repair costs if a major system breaks soon after the home is sold. A typical one-year warranty costs $350 to $500.

Home staging: It s wise to remove clutter and give your home a good cleaning before you put it on the market. But your agent may suggest going a step further and hiring a home stager to make your home more visually appealing.

Stagers may rearrange furniture, change the interior design and even rent furniture to display while selling your house. Most stagers charge from $250 to $1,000, according to HomeAdvisor.com.

Portion of buyer’s closing costs: Buyers are usually responsible for mortgage fees, home inspections and appraisal expenses, which can add up to about 2% to 5% of the selling price. If you’re in a slow market, offering to pay some of those closing costs for the buyer could help close the deal.

Image via iStock.

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How Much Should Inpatient Rehab Cost? What About Insurance? #how #much #does #alcohol #rehab #cost


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How Much Should Inpatient Rehab Cost? What About Insurance?
28 April 2015

Cost is one of the most important factors to consider before checking into rehab treatment. Cost can be a huge factor in people’s decision whether or not to go to rehab at all. The good news, however, is that inpatient rehab is probably a lot less expensive than you might think, and it pays off for the rest of your life.

How Much Does Rehab Cost On Average?

There can be tremendous variation in how much rehab centers charge. Some of the least expensive places might charge only $7,500 a month. The most exclusive, most luxurious rehab centers might charge up to $180,000 per month. It’s safe to say, however, that most rehab centers strike a middle ground between these two extremes.

Most private rehab centers cost between $10,000 and $20,000 per month. Though that’s a lot less than what rehab centers that cater to celebrities and businesspeople charge, it can still seem daunting. Is rehab really worth $10,000 or $20,000 per month? The answer: yes!

The Reasons Rehab Is Worth It

Even if you’re only thinking about economics, rehab is definitely worth the investment. Think about this hypothetical situation: let’s say you’re addicted to prescription painkillers. Using painkillers every day can cost up to $30,000 a year. Because addiction doesn’t just go away on its own, you could be paying $30,000 per year for decades. Even if rehab saves you from 10 years of addiction, that’s $300,000.

Of course, rehab pays off in many other ways, as well. Your quality of life is much greater after rehab, helping you stay healthy, happy and safe. You and your family are in a much better place after you complete rehab.

You Don’t Have to Pay For It By Yourself

The best news by far, however, is that you probably don’t have to pay for all your rehab treatment by yourself. Ever since the Affordable Care Act (“Obamacare”) was passed in 2010, health insurance providers have been required to provide coverage for mental health and substance abuse treatment. For the people who have health insurance, the Affordable Care Act ensures that all or part of their rehab stay can be paid for.

Of course, you can’t generalize about insurance and how much might be paid in your particular situation, so it’s best to check with an addiction treatment professional at a rehab center.

Want To See If Your Insurance Policy Will Cover Inpatient Rehab?

Call Water’s Edge Recovery to learn how we can work with your insurance policy to help get your rehab paid for.