Not All Homeowners Insurance Is Created Equal   (ARA) - If a fire destroyed your spacious four-bedroom home, complete with landscaping, home theater and wine cellar, would your insurance carrier expect you to live in a small one-bedroom apartment throughout the yearlong process of planning and building your new home? And what if the insurer limited your new home's design to a modest cracker box, because your policy only covered "insured value" rather than "replacement value"?

Then you would know that all homeowner policies are not created equal.

In the event of a loss, it's important that your lifestyle be protected and restored as completely as possible -- starting with your temporary accommodations. And when your home is rebuilt, the last thing you need is to be told there's a limit to how much you can spend to replace what you had.

How do some homeowners completely restore their houses and lifestyles while others are forced to haggle over additional out-of-pocket costs? The fact is that not all insurance policies are the same. As your life changes, your insurance needs become more complex and your old mass-market insurance policy might not be keeping pace.

In other words, as your lifestyle moves up from a discount store to Rodeo Drive, you begin to consider more than just price. The amount of choice, flexibility and value built into your homeowner's policy becomes more important.

The Replacement Gap

It is often at the critical juncture of a loss that homeowners learn their insurance has not kept pace with their home's replacement value.

"It you have owned your home for 20 years and you have the mass-market policy you first bought with that home, it's very possible your insurance has not kept up," says Mitch Ziemer, product director for Fireman's Fund Insurance Company. "Factors include inflation, value of contents, and even building codes, which may require a different kind of construction. A homeowner wants to be sure those costs are known -- and covered as long as they own their home."

Some policies insure only for actual cash value while others cover replacement costs. What's the difference? When actual cash value is used, the policyholder is entitled to the depreciated value of the damaged property. So the older the item is, the less money you may receive to replace it.

You'll want a policy that pays the complete replacement cost -- including rare and custom work. Under replacement cost coverage, the policyholder is reimbursed the amount it costs to replace the property and its contents with something of a similar type and quality at current prices.

For example, your Italian marble floors would be covered for the cost of the materials and installation -- even if these costs are higher at the time of replacement than they were for the original installation. The policy would also rebuild your downstairs home theater, your wine cellar, and even replace and replant your landscaping.

You should also seek a policy from an insurer like Fireman's Fund that provides the added benefit of a loss of use limit that is much higher than the industry standard. This coverage pays all comparable living expenses (compared to a predefined limit) you incur while your home is being rebuilt. And if you don't want to rebuild in the original location, you have the option to receive a cash settlement, which is also not offered by many other insurers. Plus, when you do rebuild, you can work with the contractor of your choice, not the insurance company's.

An additional benefit to seek in your policy is a loss of use limit that is much higher than the industry standard. This coverage pays living expenses you incur while your home is being rebuilt. And if you don't want to rebuild in the original location, you have the option to receive a cash settlement, which is also not offered by many insurers.

"To get an accurate value to assess risk, you need experts who know the market, your home, and your possessions," Ziemer says. Unlike the mass-market approach, a company like Fireman's Fund provides this kind of on-site expertise as part of the homeowner's policy.

It's this approach that serves the specific lifestyles of individuals and families with valuable assets and possessions. While perhaps a little lower in price, mass-market policies may not facilitate the concept of the individual experience, nor are they likely to provide coverage for your way of life. In many cases, they do not even insure the full replacement value of your home.

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Watch Your Weight and Your WalletDon't Let Disability Sideline Your Financial Health in 2008   (ARA) - Homeowners with subprime mortgages won't be the only ones facing foreclosure in 2008. Each year, 50 percent of all mortgage foreclosures are the result of the financial toll exacted by disability, according to the medical journal Health Affairs.

In fact, loss of income due to disability causes 350,000 personal bankruptcies every year, the journal reports. And three in 10 workers entering the workforce can expect to become seriously disabled during their lifetimes; one in seven will be disabled for five or more years, according to the Social Security Administration.

"Clearly, getting financially fit by preparing for disability should be high on the New Year's resolution list of every working American," says Robert Taylor, president of the nonprofit Council for Disability Awareness (CDA). "Not being able to work because of an illness or accident can be incredibly costly and personally devastating. Planning for disability is an essential, but often overlooked, part of the financial planning process."

Under the best of circumstances, disability can place a financial hardship on families. But many American families are more financially at risk than ever, with 44 percent spending more than they earn, according to the Federal Reserve, and average credit card debt approaching $10,000, as reported by Parade Magazine.

"Disability does not have to equal financial disaster," Taylor says. The CDA offers the following tips for getting financially fit - and preparing for disability - in 2008:

1. Make a list of your essential monthly living expenses. These include costs like rent or mortgage payments, utilities, food and medical insurance that would continue if you lost your income. Eliminate extras that you could live without if you had to, such as entertainment and vacations. This list of essentials will give you an idea of how much money you absolutely must have each month in order to make ends meet.

2. Get familiar with your employer's sick pay and/or long-term disability policies. Can you count on your employer to continue at least some of your income while you are disabled? Many do not. Knowing in advance what, if anything, you can expect from your employer and how long you can expect to receive it, can help you determine how much income you'll have to replace in the event of disability.

3. Identify other sources of income that might help you cover expenses during a disability. Can your spouse work to replace some of your lost income? How long would your savings cover those expenses if you had no income? Would you want to tap into your retirement savings? Could a second mortgage or support from family members and friends be an option?

4. The average length of disability is 30 months. If your income during disability and savings wouldn't carry you for at least that long, you'll need to increase your savings or line up other sources of income.

The road to financial fitness begins with thinking ahead and good planning. You need to plan for disability just as you plan for an unexpected major medical expense or save for retirement. With good planning, the financial impact of disability can be much more manageable.

Taylor's organization, the Council for Disability Awareness, is a nonprofit group focused on helping the American workforce become aware of the growing likelihood of disability and its financial consequences. The Council's Web site, www.disabilitycanhappen.org, offers tools and tips to financially prepare for disability and how to help prevent disability before it happens.

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Mission 2008: Find a Better Job   (ARA) - With every new year, changing jobs often tops the list of personal resolutions. But with so many career paths to choose from, which offer the greatest opportunities? From civil engineers to regulatory affairs associates, tomorrow's hot jobs are within your reach.

According to the U.S. Department of Labor's Bureau of Labor Statistics, professional and related occupations are projected to grow faster and add more jobs than any other major occupational group, with 6 million new jobs by 2014.

Among the up-and-coming occupations, professional and technical industries such as engineering, healthcare and science are expected to produce the majority of jobs in the year to come. For those in engineering, companies in the Southwest region of the United States, particularly the Gulf Coast are gearing up for projects scheduled to commence in early 2008.

Civil engineers and designers with chemical and petrochemical expertise remain highly sought after. These professionals can expect a salary range of $80,000 to $130,000, depending on experience.

The healthcare industry has been experiencing a nationwide shortage of professionals for many years. Aside from the obvious nursing shortage, another area where recruiters can't keep up with the demand is for physical therapists.

Therapists typically have a four-year degree and can make upward of $90,000 per year. Prior clinical experience is often preferred in potential candidates, but because of the demand, companies are accepting graduates right out of college.

But it's not just the jobs that are hot. If you've got the right skill sets, your chances of landing that dream job practically double.

When it comes to the pharmaceutical, biotechnology and medical device markets, those who can pair technical know-how with soft skills like negotiation and effective communication are viewed as an invaluable asset in the workplace.

For example, there has been an increased demand for validation and regulatory affairs professionals, who can make between $60,000 and $125,000. These individuals often serve as the liaison between the manufacturer and regulatory agencies like the Food and Drug Administration.

Not only have these professionals mastered the scientific skills needed for the job, they also encompass the characteristics of a strong, well-rounded leader.

"Technical skills, paired with interpersonal skills make for a powerful combination. Candidates with in-demand skill sets will continue to experience a robust job market and can expect to set their own pay scales," says Steve Armstrong, senior vice president, Technical Services, Kelly Services.

Often, getting your foot in the door with a prospective employer is the hardest part of landing a job. But some find that working with a staffing company helps them connect with the companies where many of these jobs exist.

"Sometimes, networking on your own will only take you so far. Working with a staffing company helped extend my reach and allowed me to leverage my professional knowledge and experience to a whole new audience," says Jim Jones, a contract planner and team leader with a major medical device manufacturer.

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Make "Financial Fitness" Your Goal for 2008   (ARA) - Most of us spend time thinking about getting our bodies back in shape. But how "fit" are the other parts of your life -- such as your finances -- for the year ahead?

"The key to financial fitness is preparation. Whether preparing for retirement, college for your children, a dream vacation home or even the unexpected, everybody needs to take time each year to reexamine what they're doing and the progress they're making in order to reach those milestones," says Christopher Pinkerton, senior vice president, North American sales and marketing for Foresters, a leading fraternal benefit society that assists people in achieving financial security.

Here are some easy ways to put together a financial fitness plan so you're better prepared monetarily for the days and months to come.

Saving Money
It's a new year and a new opportunity to examine your expenses, spending and savings habits. Start the year right by creating a month-by-month budget, setting a savings goal and projecting your financial needs.

A good rule of thumb is to set aside three to six months of salary for unexpected events such as a job loss, major car repairs or large medical bills. In addition to preparing for the unexpected, identify ‘known expenses' that are coming up such as college costs, a new home, new car or a new addition to the family, and build them into your budget. Give yourself adequate time to save for these expenses a little each month. Before you know it you won't even feel as if you're saving and you'll be a step ahead.

Taxes
They're definitely something you can count on year after year. Review the withholding on your paycheck and adjust it if necessary. Take time to gather and sort out your receipts from the past year to identify tax deductions. While you're at it, set up an organized system to keep track of receipts for next year, so you don't misplace something and miss out on any deductions moving forward. And speaking of deductions, this is also a good time to determine which charitable contributions you made in the previous year, and which ones you plan to make in the coming year.

Retirement
Review the status of your 401(k), IRA and pension plan. If appropriate and consistent with your savings goals, sign up for any automatic increases offered through your employer. Take note of your retirement plan status at this stage of your life -- are you on track for growth, or is it time for an investment change? Even periodic small changes can have a big impact on your ability to build strength through investments.

Also, review your spouse's retirement plan, and agree on a plan for building wealth. Determine a strategy that allows you to increase your contributions during the good times as well as make changes during challenging times. For example, mark your calendar to review your investment performance with a financial advisor each quarter.

Estate Planning
The need for this may seem like a long way off, but it's a good idea to plan for your family's financial security. Do you have a will, trust or health care directive? If so, review the beneficiary designations to make sure the plans reflect your current wishes. Ensure that you have a guardian named for your children, and that you've outlined how your assets will be transferred.

Also at this time, consider whether there will be significant tax consequences for your survivors, who has title to what property and who will oversee your estate plan. If you don't yet have these items in place, an estate planning professional can help you sort things out, saving your family added complications upon your death. Your family will appreciate your forethought and be comforted by knowing that you made plans for them.

Life Insurance
An important step in financial fitness is financial security, and life insurance can be the backbone of financial security.

Remember, life insurance is the piece of the puzzle that makes sure your family can keep the house, send the kids to college or sustain the family's livelihood if there's a loss of one or both income providers. Some life insurance products can also provide savings and investment options for a home, a family bequest or a dream vacation.

"At the start of a new year, many people resolve to re-evaluate their investments or bump up their 401(k) contributions. However, as your life changes so will your life insurance needs. Be sure to check the beneficiaries. And consult with a life insurance representative on a regular basis to help you determine if you have the coverage that fits your needs," says Pinkerton.

Conventional wisdom recommends households should carry anywhere between two to 10 times your annual income in life insurance.

If you don't have a life insurance policy -- or any of the other financial plans mentioned above -- now is the time to get those parts of your life in shape. With the help of qualified professional advisors, you can put a financial fitness plan in place and prepare both you and your loved ones for the future.

For more information on your life insurance needs, visit www.Foresters.com.

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Quick Tips for Filing for Federal Financial Aid   (ARA) - Whether you'll be sending your kids to college in 2008 or heading there yourself, you've no doubt already heard of the FAFSA (The Free Application for Federal Student Aid). After all, it is one of the most critical financial aid forms a student will have to complete.

Much like filling out a bank loan application, the FAFSA determines how much federal aid a student is eligible to receive (in the form of grants or loans) based on U.S. Department of Education guidelines -- including information such as your family's assets and previous year's income.

"Although it is easier to file the financial aid application once parents have completed their taxes, the FAFSA can be filed using the best estimate of your prior year's income. Applicants will have the chance to update the information they initially provided at a later date," says Stephanie Behrends, spokesperson for 2nd Story Software, Inc., developers of TaxACT tax preparation software and online services.

Behrends continues, "Certainly, the state in which a student resides, choice of school and academic standing are components which contribute to the total amount of aid a student will receive in the form of scholarships, grants and loans. However, it is crucial for students to understand the chances of receiving federal aid are directly related to filing the FAFSA on time and the financial strength of their family, which is calculated by using the information supplied on the application."

The FAFSA measures your family's expected contribution toward the cost of your education. For that reason, cash assets and having high adjusted gross income (AGI) will greatly diminish the amount of assistance a student can receive. Nevertheless, a bit of planning prior to preparing the FAFSA can help you save thousands of dollars toward the cost of a college or technical education.

If you are a student (or the parent of a student) seeking to maximize your chances of receiving federal aid, be vigilant by using the resources available to you, which can help you to strategize and meet deadlines.

Behrends suggests, "Early tax preparation offers FAFSA filers a distinct opportunity to coordinate the lion's share of financial information required by applicants. Tax software, like TaxACT Deluxe, which contains a College Student Financial Aid Worksheet, is a valuable resource that can help students and their parents apply for financial aid. Plus, tax software helps them take full advantage of various tax credits, deductions and strategies, which can reduce the income reported to the IRS."

While any decision should be made with your financial advisor or accountant, some worthy strategies FAFSA filers should investigate to reduce cash assets and lower reported income include:

* Prepaying state taxes December 31. Paying a due amount by December 31 will reduce your cash assets and entitle you to an additional deduction on your 2006 tax return.
* Maximizing retirement saving contributions.
* Making charitable donations.
* Contributing to a Health and Dependant Savings Account (flex spending). Flex contributions are deducted from your gross income -- greatly reducing the amount of income you report to the IRS.
* Making purchases before the end of the year. Make a qualified energy efficiency improvement to your primary residence by December 31. You'll reduce the amount of cash you have on hand and, under the Energy Policy Act of 2005, you may get a tidy tax credit worth up to $500.
* Paying off /down loans. Making an extra payment toward the principal amount of your home loan. You'll pay less interest and build a nest egg in the form of home equity.
* Paying off bills. Paying for services upfront reduces cash assets and may entitle you to a discount. For example, many customers receive rebates from their automotive insurance provider by paying for the year in full.
* Sell bad investments by December 31. You can deduct up to a $3,000 capital loss ($1,500 if you are married and file a separate return) to offset capital gains.

Funding is on a first come, first served basis. File your FAFSA the second you are eligible -- the first minute of New Year's Day -- January 1. Not only will you increase your odds of getting federal aid, you may actually receive more financial assistance because the money pool has not been diminished. However, be forewarned, if you attempt to submit before January 1, the application will not be processed.

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Hole of Debt or Financial Mountain? How to Avoid Money Management Pitfalls   (ARA) - You see them on college campuses and at county fairs, people offering free T-shirts when you sign up for a credit card. You get offers in the mail every day - instant approval for the credit card of your choice. But just because you have access to seemingly unlimited credit does not necessarily mean you should take the credit card industry up on the offer.

"Over the years, I've seen many students, colleagues and acquaintances make some very serious mistakes by misusing readily available credit and uninformed borrowing," says Larry Lazofson, professor of business administration at DeVry University, Columbus. Lazofson offers these tips to start young people off on the right financial footing:

* It's Your Responsibility to Know What You Can Afford

Never rely on a lender to determine how much debt you can manage. There are lenders who will readily extend enough credit to place you in a cash-strapped position where a large chunk of your earnings will go directly to paying their interest.

Every borrower needs to carefully review their finances to determine how much debt he or she can safely and comfortably afford. A simple debt-to-income calculator can be found at www.bankrate.com. It is your responsibility, as a borrower, to do the research on how much debt a person at your income level can handle.

"I can't even begin to tell you how many credit card offers I received when I was a student," says Ronna DiBuono, a recent college graduate, now working as a marketing and communications professional in Pittsburgh. "I had friends that took everything they were offered, but I did my homework and knew the consequences. I passed on most of the offers so I wouldn't have financial problems before my career even started."

* Build a Financial Mountain or Dig a Hole of Debt

When you save money and earn interest your investment compounds over time, like a snowball rolling downhill that becomes bigger the further it goes. Too many people borrow money to purchase things that lose value such as designer clothing, electronics and expensive cars. Putting lots of consumer goods on your credit cards can saddle you with debt for years and sap your personal savings.

And what happens to the trendy, chic stuff put on the credit card? It ends up in a box in the closet or in the trash while the debt lives on. It's always a better investment to save and build interest rather than spend and pay interest.

*There is no Easy Escape

Some people, when drilling themselves deeper into debt, believe that filing for bankruptcy will allow them to escape their financial troubles. Federal bankruptcy laws were revised in 2005, making it much harder to erase debt by filing for bankruptcy. If a college student plans on finding a good, professional job after completing his education, he should think twice before attempting to file for bankruptcy. Many employers do background checks and will not hire an employee with a poor history of managing finances.

"College students already make important sacrifices that will pay off both professionally and financially in the future. Students need to understand that taking advantage of easy credit is not worth the risk," says Lazofson. "Young adults bound for college, students and everyone, for that matter, need to carefully consider their consumer purchases, especially if making them on credit, and instead choose to invest in themselves and in the future."

For more information about DeVry University and its finance and business administration offerings, visit www.devry.com.

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Extra Precautions Help Prevent Identity Theft During Tax SeasonTips for Secure Filing Electronically and Through the Mail   (ARA) - For most Americans, tax season means frustrating hours spent with piles of paper, but for identity thieves, this time of year provides an open-door opportunity to steal your personal information.

Identity theft is a crime that has gained momentum in recent years, claiming more than 23,000 victims each day. While it's important to protect confidential information year-round, people are especially vulnerable to the crime during tax season.

From W-2 forms to old pay stubs and investment information, Americans send and receive a large quantity of confidential information that is a gold mine for identity thieves.

"Similar to the holiday shopping season, tax time provides a variety of opportunities for identity thieves," says Jay Foley, executive director, Identity Theft Resource Center. "It is essential that consumers are cautious when handling their tax-related information."

In recent years, more people have turned to electronic filing for added convenience. In fact, according to the IRS, the 2007 tax-filing season set a record for the number of electronic filers with more than 75 million tax forms filed online.

While e-filing may offer a simplified approach to an already dreaded filing process, it may also give consumers a false sense of security when it comes to protecting against the crime. Similar to mail filing, consumers must still collect necessary paperwork required to complete tax forms.

"The convenience of e-filing doesn't decrease consumer's vulnerability to identity theft during tax season," says Nancy Heaton, senior global marketing manager at Fellowes, Inc., the leading shredder manufacturer. "In reality, the same amount of paperwork is required for tax back-up. That's why it's essential for consumers to shred any papers containing confidential information that are used to file their taxes."

It's also critical to properly store and destroy sensitive back-up documents used during tax season. Once you have determined what you need to keep and what can be destroyed, make sure you properly dispose of this sensitive information. Shredding is one of the most effective ways to get rid of confidential information you no longer need.

When destroying records, it's best to use a shredder that features cross-cut capabilities, such as the Fellowes PS-77Cs, which ensures private information is reduced to small, unidentifiable pieces, making it nearly impossible for thieves to piece the information back together.

In addition to shredding, below are several tips people should consider this year to ensure tax season is more manageable.

Filing Taxes the Old Fashioned Way: Through the Mail
* Keep tax paperwork and other documents in a safe and accessible place, such as a fireproof box in your home.
* Regularly check the mailbox for W-2 forms and other documents containing sensitive information that arrive by mail. If you don't receive these documents by Feb. 15, contact the IRS for assistance at (800) 829-1040 as missing forms may be an indication that an identity thief went through your mail.
* Send completed tax returns from a locked mailbox or the post office. If mailing from home, do not put the mailbox flag up. This only alerts identity thieves that there may be an outgoing check in the mail.
* Make sure tax forms, backup documents and enclosed checks are not visible from the outside. Try wrapping your forms in an extra sheet of paper to disguise the contents of the envelope.

Filing Taxes Online
* Choose a tax filing service you are familiar with. The IRS doesn't offer software or direct filing, but it provides a list of approved companies at www.irs.gov/efile.
* Make sure personal computers are protected with updated firewall and secure software systems which contain antivirus and anti-spyware programs.
* If you are storing important tax-related documents on your computer, change your passwords frequently between December and April.
* Ensure that every Web site you are using during tax filing is encrypted to protect personal information when transmitted.
* Once you have submitted your tax forms, shred any information you no longer need.

For additional identity theft prevention tips and information on how long to keep financial records, visit www.fellowes.com or check with your tax professional.

Courtesy of ARAcontent

Retiring? Top Six Things to Consider Before You Leave Your Job   (ARA) - It's always a good time to take a fresh look at our financial future -- including how we plan for retirement.

For the 76 million baby boomers approaching retirement age, preparing for the golden years may mean making several important decisions while still in the workforce to help ensure that they will have enough money to live in retirement. As retirement looms closer, the overwhelming possibilities can leave many people uncertain about where to start.

To help Americans get started -- and perhaps focus on their retirement plans as part of their New Year's resolution -- Prudential Financial has identified six important financial considerations to think about before retiring.

"Just as the boomer generation has redefined history and culture, they will also change the nature of living in retirement," says Jill Perlin, vice president, Prudential's Retirement and Wealth Planning group. "Boomers and younger workers who understand what to do -- and take action -- before they leave the workforce may have many more choices available to them during their retirement years."

The Top Six

1. Define your retirement -- Your vision will drive your plan. Some may decide to work part-time, launch a completely new career, or perhaps go back to school, volunteer or develop new hobbies. Consider if you need to downsize, relocate or remain in your current residence.

2. Know where you stand financially -- Take inventory of your assets and possible income sources, and understand how your retirement plan will help provide you with income during your retirement years. Save as much as possible while still working.

3. Estimate your expenses in retirement, especially for healthcare -- Healthcare can be a significant expense category during your retirement years, so understanding what your healthcare plan covers in retirement is critical.

4. Manage asset allocation -- Regularly monitor and review your investments to ensure that they support your goals and to determine if you should change how assets are allocated among different investment types; consider professionally managed investments products.

5. Plan for your beneficiaries -- Create a will, choose a guardian if needed, and select who will manage your estate.

6. Explore options to create a retirement income -- Research product strategies that can help generate a guaranteed retirement-income stream, including the new generation of variable annuities that can provide guaranteed streams of income for life while still affording degrees of flexibility and control. It may be advantageous to purchase these products while you are still working.

According to Perlin, it's never too early or too late to start taking these tips into consideration. "People who are nearing retirement need to think about how to help grow, protect, and convert their assets into retirement income -- and that can take some time. Being engaged in this process while still working allows boomers more flexibility to course-correct, if necessary."

For more information about important retirement considerations and choices, review and download a copy of "The Fourth Pillar: Retirement Choices" brochure at Prudential's Web site, www.prudential.com.

Courtesy of ARAcontent

FHA: Old Mortgage Program Finding New Life   (ARA) - The sky is falling, the sky is falling! Or so you would think if you listened to all the news coverage about the mortgage market. The news is filled with reports of declining home values, resetting adjustable-rate mortgages and people feeling the pinch of tightened credit.

However, despite the doom and gloom, much of the media haven't reported on the proverbial silver linings in the storm clouds. One of the bright spots is the resurgence in popularity of a loan program that has been around since the 1930s -- the Federal Housing Administration (FHA) loan.

Historically used almost exclusively by consumers to purchase their first home because of its low down payment requirements and competitive rates, FHA loans are making a comeback and quickly gaining prominence among those looking to refinance as well.

"A large number of people are really benefiting from the FHA loan program, and what is most interesting is many of them have just recently been turned down for more traditional conventional loans," says Bob Walters, chief economist for Quicken Loans, one of the nation's largest mortgage lenders. "This program isn't the answer for everyone, but we have found that it can be a very viable option for many people."

According to Walters, FHA loans are being used by consumers for cash-out refinancings, or to consolidate debt up to 95 percent of the home's value -- moves that are extremely difficult and often not financially practical to make with current conventional lending guidelines.

"Through the first half of 2007, homeowners had no problem making their mortgages work for them. However, since that time, tighter lending guidelines have resulted in many loan programs being taken off the table. Fortunately, FHA loans can fill some of the void. When used responsibly, FHA loans can provide much-needed relief. Every day, we help clients purchase homes, pay off medical expenses, eliminate high-interest credit card debt and generally improve their financial position through the FHA program," Walters adds.

Consumers are also finding that in some instances, FHA loans can close very quickly, in less than 14 business days in some cases.

"The bottom line is that FHA loans are an option for many folks, but not for everyone. It is very important that every homeowner consult with a reputable lender who will listen to their needs and goals, and then suggest the best mortgage for them. In some cases it could be an FHA loan, and in others it may be a conventional fixed or adjustable rate mortgage. What is important is that the loan actually works for the consumer and puts them in the best possible financial position," Walters concludes.

For more information about FHA loans, visit www.QuickenLoans.com/FHA.

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Start-Up Advice for Women Business Owners   (ARA) - Whether you're starting from scratch, purchasing an existing business or looking to buy a franchise, the starting point is always a significant hardship. In today's business world, women are faced with unique challenges when starting a business, due to ongoing stereotypes that portray women as a higher loan risk.

Karen Lackey, MBA, Business/Technology department program chair at Brown Mackie College - Findlay in Ohio, explains that while challenges do exist, women business owners can achieve success in the modern entrepreneurial world.

"It has been my experience that women face both financial and emotional hardships in opening their own business," says Lackey. "Despite the strides women have made in the workforce, there are still some obstacles for women wanting to open their own business. For instance, obtaining financial backing is still a struggle. Banks are leery about loaning out larger amounts of money to women. In addition, women still have the obstacle of overcoming the typical stereotypes of women not being able to compete in a ‘man's world.' "

According to Lackey, since the early 1980s, women have made solid strides in becoming prosperous entrepreneurs. More than 20 years ago, female business owners were few and far between, especially in male-dominated industries, such as automotive and wood working. Now it is not uncommon to find female entrepreneurs owning businesses ranging from auto body shops to nail salons.

What tips or resources would Lackey offer for first time female business owners as they strive for success? "My suggestion is to do as much research as possible about the industry you're entering and local competition before jumping in," advises Lackey. "Don't be afraid to take risks and always walk with your head held high."

There are also many associations, such as the National Association of Women Business Owners, which can help women at all stages of business to be more connected, more empowered and more successful. Such organizations provide business referral network opportunities, with personal interaction at monthly meetings and events, business education, and online connectivity and visibility.

The glass ceiling of stereotypes and discrimination is best surpassed through research, dedication, risk-taking, confidence, knowledge, and proactive planning, Lackey says. "Remember, the key to a successful business start-up is not narrowed down to a simple formula; it differs for every individual. Assess your situation and finances, do your research, formulate a structured plan of recourse, and don't be afraid to take a chance."

To learn more about Brown Mackie College, visit http://www.brownmackie.edu online.

Courtesy of ARAcontent