Before Disaster Strikes
Fires . . . hurricanes. . . floods . . . earthquakes . . . tornadoes.... Natural or other disasters can strike suddenly, at any time, and anywhere. Your first priority, of course, would be to protect your family and your property. But it's also important to protect against the financial consequences of a disaster. A disaster can damage or destroy your property, force you to temporarily live somewhere else, cut the flow of wages and other income, or ruin valuable financial records.

Listed here are some simple, common-sense steps you can take now. Before you take any actions, however, you should be sure you have involved your family or friends whenever possible in decision making and planning. You also may want the assistance of an advisor, such as a Certified Financial Planner, insurance agent, or similar financial professional.

The important thing is to begin planning now, before the unexpected becomes a harsh reality.

Protect your property
One of the first things to do is find out what disasters could strike where you live----fire, flood, earthquake, hurricane, or tornado, for example. The following steps can help you avoid or reduce substantially the potential physical destruction to your property if you were to be hit with a disaster. These steps can reduce your insurance costs, too. For example, you could:

Install smoke detectors to warn of an apartment or home fire. 
Elevate utilities to upper floor or attic. 
Clear surrounding brush to protect your home against wildfires. 
Anchor your house to the foundation, and anchor the roof to the main frame. 
Secure objects that could fall and cause damage in an earthquake, such as a bookcase or hot water heater. 
Install hurricane shutters on windows, and prepare plywood covers for glass doors. 
Cover windows, turn off utilities, or move possessions to a safer location if you have adequate warning of something like a hurricane or flood. 
If your home is in a high risk flood area, on a fault line, or threatened by coastal erosion, consider relocating. 
Have your house inspected by a building inspector or architect to find out what structural improvements could prevent or reduce major damage from disasters. 
If you haven't yet bought a house, you might take construction type into account. Frame houses tend to withstand some disasters, while brick homes hold up better in others.
If you're not sure where to start, you could contact your local fire department. Fire departments will often make house calls to evaluate your property and make suggestions on how to improve safety. In earthquake-prone areas, the local utility can be called upon to come to your location and show you how and where to shut off gas lines or how to elevate utilities to get them above a possible flood.

Conduct a household inventory
Inventory your household possessions by making a list of everything you own. If disaster strikes, this list could:

Help you prove the value of what you owned if those possessions are damaged or destroyed. 
Make it more likely you'll receive a fast, fair payment from your insurance company for your losses. 
Provide documentation for tax deductions you claim for your losses.
To conduct a thorough home inventory: 

Record the location of the originals of all important financial and family documents, such as birth and marriage certificates, wills, deeds, tax returns, insurance policies, and stock and bond certificates. Keep the originals in a safe place and store copies elsewhere. You'll need accessible records for tax and insurance purposes. 
Make a visual or written record of your possessions. If you don't own a camera or videotaping equipment (and can't borrow or rent it), buy an inventory booklet and fill it out, or make a simple list on notebook paper. Ask your insurance agent if he or she can provide one. 
Go from room to room. Describe each item, when you bought it, and how much it cost. If you're photographing or videotaping, have someone open closet doors and hold up items. 
Record model and serial numbers. 
Include less expensive items, such as bath towels and clothes. Their costs add up if you have to replace them. 
Be sure you include items in your attic, basement, and garage. 
Note the quality of building materials, particularly for such furnishings as oak doors or expensive plumbing fixtures. 
Photograph the exterior of your home. Include the landscaping---that big tree in the front yard may not be insurable, but it does increase the value of your property for tax purposes. Make special note of any improvements, such as a patio, fencing, or outbuildings. 
Photograph cars, boats, and recreational vehicles. 
Make copies of receipts and canceled checks for more valuable items. 
Get professional appraisals of jewelry, collectibles, artwork, or other items that are difficult to value. Update the appraisals every two to three years. 
Update your inventory list annually.
Sound like too much work? Computer software programs designed for such purposes can make the task much easier. These programs are readily available in local computer stores.

Most important, once you have completed your inventory, leave a copy with relatives or friends, or in a safe deposit box. Don't leave your only copy at home, where it might be destroyed.

Buy insurance
Even with adequate time to prepare for a disaster, you still may suffer significant, unavoidable damage to your property. That's when insurance for renters or homeowners can be a big help. Yet, many people affected by recent disasters have been underinsured-or worse-not insured at all. Homeowners insurance doesn't cover floods and some other major disasters. Make sure you buy the insurance you need to protect against the perils you face.

If you own a home:

Buy, at a minimum, full replacement or replacement cost coverage. This means the structure can be replaced up to the limits specified in the policy. 
Investigate buying a guaranteed replacement cost policy. When and where available, these policies can pay to rebuild your house, including improvements, at today's prices, regardless of the limits of the policy. 
Have your home periodically reappraised to be sure the policy reflects the real replacement cost. 
Update the policy to include any home improvements, such as basement refinishing. Annual automatic increases may not be enough to cover these. 
Buy a policy that covers the replacement cost of your possessions. Standard coverage only pays for the actual cash value (replacement cost discounted for age or use). 
Be very clear about what the policy will and will not cover, and how the deductibles work (the part you pay before the policy pays). 
Check government operated insurance pools if you find it difficult to obtain private coverage because of a recent disaster. Premiums often run higher than market rates, but this is better than no coverage. 
Use your home inventory list to check that your policy's coverage matches the value of your possessions.
If you rent: 

If you are renting, consider locating outside a high risk flood area or away from a fault line. 
Buy renter's insurance, which pays for damaged, destroyed, or stolen personal property. Your landlord's insurance won't cover damage to or loss of your possessions. Also, consider special coverage like flood insurance for your belongings. 
Be clear about what a policy will cover. Some policies cover more than others. For example, will the policy pay for living expenses if you have to live somewhere else temporarily, or for damage from sewer backup? 
Comparison shop for the best coverage at the best price. Other than government flood insurance, policies vary from company to company. Policies in most areas are very affordable. Start with the company that insures your car. Discounts are often available if you carry more than one policy with a company.
If you are moving: 

Select a home in an area not on a fault line, in a flood area, or at risk from costal erosion.
Consider special coverage
Insurance for renters and homeowners won't cover certain types of losses. Ask your insurance agent or financial planner about special or additional coverage for the following:

Floods- Homeowner policies don't cover damage from flooding. Call your current insurance company or agent first about getting coverage. 
Earthquakes- Premiums typically are high, and deductibles may range from 5% to 20% of the policy's coverage. Still, such coverage may be better than no coverage. (Earthquake coverage for the contents of a home usually is separate.) 
Home offices- Some policies automatically extend coverage to computer equipment and a few other items of business property. Talk to your agent to determine what items would or would not be covered. If necessary, you could buy additional business coverage at a modest cost. Or it may be better to buy a separate small business policy, which would also provide more coverage. 
Building codes- Ask your agent about additional insurance to cover the costs of meeting new, stricter building codes. Frequently, after a disaster people get shocked with rebuilding costs that are much higher because building codes have changed. All current codes must be met when rebuilding. Consider additional structural improvements that provide more protection. 
Other potential problems- This would include problems such as underground mines (located beneath your property) sewer backup, or mudslides. 
Big-ticket items- Purchase additional coverage for specific jewelry, collectibles, artwork, furs, or other big-ticket items.
Where to keep cash
After a disaster, you may need cash for the first few days, or even several weeks. Income may stop if you can't work. To help stay solvent, consider the following:

Keep a small amount of cash or traveler's checks at home in a place where you can get at it quickly in case of a sudden evacuation. A disaster can shut down local ATMs and banks. The money should be in small denominations for easier use. 
Set aside money in an emergency fund. That can be tough to do on a tight budget, but it can be well worth the effort. The fund can be very helpful, not only in a disaster, but in other financial crises, such as during unemployment or when unexpected expenses like legal fees arise. 
Keep your emergency funds in a safe, easily accessible account, such as a passbook savings account or a money market account. 
Keep some funds outside the local area, since the disaster that affects you could also affect your local financial institutions. A mutual fund money market account in another city is one option to consider. 
Keep your credit cards paid off. You may have to draw on them to tide you over.
Use an evacuation box
Buy a lockable, durable "evacuation box" to grab in the event of an emergency. Even a cardboard box would do. Put important papers into the box in sealed, waterproof plastic bags. Store the box in your home where you can get to it easily. Keep this box with you at all times, don't leave it in your unattended car.

The box should be large enough to carry: 

A small amount of traveler's checks or cash and a few rolls of quarters. 
Negatives for irreplaceable personal photographs, protected in plastic sleeves. 
A list of emergency contacts that includes doctors, financial advisors, clergy, reputable repair contractors, and family members who live outside your area. 
Copies of important prescriptions for medicines and eyeglasses, and copies of children's immunization records. 
Health, dental, or prescription insurance cards or information. 
Copies of your auto, flood, renter's, or homeowners insurance policies (or at least policy numbers) and a list of insurance company telephone numbers. 
Copies of other important financial and family records (or at least a list of their locations). These would include deeds, titles, wills, a letter of instructions, birth and marriage certificates, passports, relevant employee benefits documents, the first two pages of the previous year's income tax returns, etc. Originals, other than wills, should be kept in a safe deposit box or at another location. 
Backups of computerized financial records. 
A list of bank account, loan, credit card, driver's license, investment account (brokerage and mutual funds), and Social Security numbers.
Safe deposit box key.
Rent a safe deposit box
Safe deposit boxes are invaluable for protecting originals of important papers. If you don't have a safe deposit box, keep copies in your evacuation box or with family or friends. Original documents to store in a safe deposit box include: 

Deeds, titles, and other ownership records for your home, autos, RVs, boats, etc. 
Birth certificates and naturalization papers. 
Marriage license/divorce papers and child custody papers. 
Passports and military/veteran papers. 
Appraisals of expensive jewelry and heirlooms. 
Certificates for stocks, bonds, and other investments. 
Trust agreements. 
Living wills, powers of attorney, and health care powers of attorney. 
Insurance policies (copies are sufficient). 
Home improvement records. 
Household inventory documentation.
Generally, originals of wills should not be kept in a safe deposit box since the box may be sealed temporarily after death. Keep originals of wills with your local registrar of wills or your attorney.

Deciding on a safe and convenient location is an issue. You may want to consider renting a safe deposit box in a bank far enough away from your home so it is not likely to be affected by the same disaster that strikes your home (for instance, bank vaults have been flooded). Keep the key to the safe deposit box in your evacuation box.

Home safes and fire boxes
Safes and fire boxes can be convenient places to store important papers. However, some disasters, such as hurricanes, floods, or tornadoes, could destroy your home. Usually, it's better to store original papers in a safe deposit box or at another location well away from your home.

If you have time...

Some disasters, such as tornadoes or earthquakes, strike with little or no warning. Others, such as floods or hurricanes, may allow some time to prepare. If there is enough time, you could take the following actions: 

Decide what household items you would put on a very short priority list. For example, imagine you could take only one suitcase or pack a single carload. What would you take? Involve the whole family in this discussion. Take jewelry and other small valuables. 
Take irreplaceable heirlooms, mementos, and photos. 
Don't bother with replaceable items such as televisions, furniture, computers, and clothing (except what you need to wear for a few days). 
Be sure, however, to take a battery-powered radio and spare batteries so you can stay informed. 
Take important papers and computer disks if you have a home business.
Whew! These are a lot of ideas. You may not be able to do everything that is suggested---that's OK. Do what you can. Taking even limited action now will go a long way toward preparing you financially before a disaster strikes.

How to Buy A Home with Absolutely No Money Down

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" Now you can realize the dream of owning your own home with zero down payment."


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The Zero Cash Down payment Program offers you a way to buy a home with no down payment. That's right zero down payment. You may have owned a home before and are presently renting, or are a first time homebuyer and need a way to break into the housing market but held back because you thought you required a substantial down payment. Or you may be in the position where you do not want to liquidate your financial assets to use as a down payment on a home. Regardless of your present situation, you want a way to get into or to re-enter the housing market without having to make a cash down payment. The Zero Cash Down payment Program may be just the answer you need. Here's what is required to qualify for the Zero Cash Down payment Program.

Program Qualifications
1. An excellent credit history
no recent history of bad debts 

consistent and timely payment of current liabilities 

2. Limited liabilities
You will be required to disclose all current liabilities you have in order to determine how much more debt you can carry. (ie. present car loan, credit cards, etc.) 

3. At least 3 years of employment stability
You will be required to show proof of employment for the past 3 years, ie. a letter of employment from your employer or financial statements for the past 3 years if self-employed. 

4. The financial ability to carry larger monthly payments
Without a down payment you will be required to meet the obligation of larger mortgage payments. Your monthly payments could vary from a few to several hundred dollars more per month. 

Under the Terms of the Program You Can Purchase Many Types of Properties
They include:

detached or semi-detached homes 

free-hold town homes 

condominium town homes 

It is important to note that not all properties qualify for the Zero Cash Down payment Program. To ensure that you get an accurate picture of what properties may or may not be included in this pro-gram in your particular area, it is advisable to review the terms of the program with your Realtor ® . 

Benefits of the Zero Cash Down payment Program
1. No Down payment 
If you are renting, why pay your landlord's mortgage? Why not reap the benefit of building your own equity? Are you renting because you are held back from owning your own home because you think you need a substantial down payment? The general perception of many would-be-homebuyers and even that of some Realtors ® is that a substantial down payment is required in order to purchase a home. This is simply not true. Because of this perception many would-be-home-buyers feel they have to save for years before they have enough money for a down payment so that they can finally enter the housing market. In the meantime they are lining someone else's pockets, while waiting a long time before they can start building their own equity. Well, with the Zero Cash Down payment Program you don't need a down payment to buy a home. 

2. Buy a Home Now! 
If needing a down payment is keeping you from owning your own home, this new program offers you an immediate way to get into the housing market. With the Zero Cash Down payment Program you don't have to wait to purchase a home. 

3. Approved Bank Program
It is important to know that the Zero Cash Down payment Program is an approved bank program. Review this program with your lender or Realtor ® who has specialized knowledge in financing and can assist you with the Zero Cash Down payment Program. 

Buying a Great Used Car
So, you need a new set of wheels but you can't afford to shell out more than $20,000 - the average cost of a new car. And you don't want to drive around in an unreliable "old bomb" either. What are your options? The good news is that there are lots of great deals available on "previously owned" cars. But be aware that buying a great used car requires navigating through a few special steps to ensure that you will get the most reliable and safe car. Follow these tips and you'll be rolling down the highway with confidence. 

Get the Facts 
Figure out which car best suits your needs and how much you are able to spend. Use the internet to do your homework. Go online to find out the value of a particular model, scan online classified ads, and search car finance loans, among other things. Each car buying site has a certain area of expertise. 

Of course, you can do your research the old fashioned way - at your local library. Look through popular consumer publications such as Consumer Reports for reliability and repair ratings, as well as general advice on the used car buying process.

Places to look for used cars include: new car dealerships, used car dealers, private individuals, and auctions. Unless you plan to pay cash, get quotes from at least two financing institutions, so that you know what payment and interest rate options exist before you talk to dealers. 

Avoiding Problems and Pitfalls
Try to find out as much as possible about the history of the vehicle. Ask the seller to provide you with copies of the repair records, if available. In addition, get a vehicle history report. The report includes such important information as to whether the car has ever been issued a salvage title (from being in an accident), a flood title, or a junked title, and if the odometer has been tampered with. 

Depending upon the mileage and prior maintenance performed, a used car could require more repairs sooner after you purchase it than a new car would. There are several additional steps you can take before you buy to insure that you are not buying a car in poor condition. Consider paying a mechanic to look the car over first. This might cost up to $100, but if you are serious about the car, this should be money well spent to insure that you are buying one that's reliable and safe. Take the car for a test drive and check out the braking, steering, shifting, acceleration, engine noise, and how well the accessories work. 

A Word About Certified Used Cars
Since the mid-1990s, dealers have been selling a special type of used car - the "certified" used car. Cars which have been leased or traded-in are evaluated to see if they qualify for certification. Vehicles that qualify are usually in very good condition, with low mileage. The dealers have their mechanics perform a detailed inspection and they offer various warranties. Certification can mean different things to different car manufacturers, so it's important to check with each dealer to get the details of their certification program. Review the warranties carefully to see which repairs are covered and which are not. You can check the websites for car manufacturers or contact dealers for information on their certification programs. 

Buying a certified used car is a way to pay much less than you would for a new car, and still get recent models and features. The warranties should offer greater peace of mind because the dealers have taken the guesswork out of what condition the vehicle is in. 

Check for Car Safety Features
One of the most important considerations when looking for a car is what safety features they have. You should be able to understand what they are and what they are worth to you. If you haven't bought a car in many years, you may not be familiar with some of the newest safety features. Some features are mandatory and some are optional. Safety features on many recent models include: 

Front and side air bags. 
Head injury protection such as head air bags (shield you from impact with the upper interior of the car). 
Anti-lock brake systems (ABS). 
4-wheel drive with traction control (usually with ABS). 
Automatic dimming rear-view mirrors (to reduce glare). 
Daytime running lights. 
New child seat attachment systems. 
Built-in child safety seats. 
Dealing with Dealers and Private Sellers 
Once you have done your homework, know which car you want, and how much you want to spend, it's time to start bargaining with the sellers. 

Finding private sellers is as easy as checking the newspaper classifieds or going online to the electronic "classifieds" at websites such as AutoTrader. Don't forget to check with your family and acquaintances to see if anyone is selling their car. When you buy from private sellers, you usually pay less than you would if purchasing from a dealer. However, you may not have as many legal protections. Therefore, although you pay less initially, you run the risk of getting lower quality as well. 

When talking to car dealers, remember that it is very difficult to get out of a contract once you sign on the dotted line. Therefore, do not commit to buying or sign anything the first time you go in. Since you did your homework, take the information you gathered and show the dealer you are an informed person, so you can make the deal on your terms instead of theirs. Negotiate based upon the selling price - not payment plans - and be sure to get full disclosure of every charge involved. Don't take their word on promises made - get any proposal in writing. 

Finally, follow your instincts - if you feel pressured or powerless when dealing with any seller or you sense they are playing games with you, LEAVE. There is always another good deal waiting for you around the block.

Tips for Negotiating a Good Deal
Regardless of who you are dealing with, a good strategy is to let them know you have "cash in hand" or pre-arranged financing. 
If you have done your homework, you should be able to tell if they are asking for too much money for their vehicle. Let them know you have checked the prices at other sources and ask them to lower the price. 
Notice the condition of the body, paint, and tires. If it needs work, this is a reason to ask the seller to lower the price. 
If you have had the car inspected and found it needs mechanical repairs, inform them that the price should be lowered accordingly. 
Try to find a balance between appearing uninterested and being too anxious to buy. If you seem indecisive and hesitant, the seller might respond by lowering the price. But, be careful because this could backfire. If you seem too hesitant, someone else might be close by with cash in hand to buy the car. 

5 Things You Must Know about Recent Mortgage Loan Changes

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"....Insider Secrets that can make owning your Dream Home possible..."


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Increased Ability To Finance Your Closing Costs
You can now finance up to 100% of your closing costs thanks to recent changes in Federal Housing Administration (FHA) guidelines, compared to the old limit of 57%. This is very good news for the first time home buyer who typically has less cash available at the time of closing. 

Increased FHA Limits
There FHA loan amount maximums have increased, which is particularly helpful for people living in high cost housing markets. FHA 's mortgage limit is now tied to local housing costs. The limit is now 95% of the median home price, or 75% of the Fannie Mae maximum loan amount, which ever is lower. This is another avenue for the first time home buyer to achieve the dream of home ownership. 

Increased Accessibility to Down Payment Assistance Programs
With the rapid increase in home prices over recent years, more and more people are having the dream of home ownership ripped from their hands. Typically one had to go through a rigorous process to qualify for a down payment assistance program. Today, there are now programs which have very little hassle. Ask your mortgage broker if they have access to such options. 

Rapid Loan Approval
One of the latest innovations in the mortgage industry is the advent of computerized loan approval. These programs provide both rapid loan approval and more uniform loan approval practices. This type of approval is done by scoring a borrower's credit worthiness which quantifies the risk they will default on the loan. Does your mortgage broker use such a program? 

Affordable Mortgages Which Don't Verify Income
These loans are perfect for those people who are self employed, real estate investors, retired persons and anyone who doesn't want to have to prove their income. It is essential to have a good credit score in order to qualify for non income verified loan.